Are you swamped with lending work right now, but don’t know what you’re going to do when the interest rate goes back up and things slow down? Or maybe you don’t have enough work and would like some other options besides working with the AMC’s. RETROSPECTIVE VALUATIONS may be something you should look at. There are many different reasons a retrospective valuation is needed. Don’t be afraid to branch out by adding a new appraisal product to your resume. Retrospective appraisals are prepared in much the same way as a current value appraisal; you just need to be “Looking back” instead of looking at today. Sometimes it’s just “looking back” a few days or months, but it could also be 10 years or more. This class will look at what constitutes a retrospective appraisal; is there a different Scope of Work; what additional considerations are there; how do you find your comparables and market data; and how do you determine the condition of the property as of the date of valuation.
Instructor: B. Penny Woods
B. Penny Woods, owner of BPW Appraisal & Realty Service based in Pleasanton, CA, has been working as an appraiser for the past 34 years, coming from a background of property management and real estate sales. In 2020, 35% of her business was completing retrospective appraisal assignments. She got her start in appraising by working for a fee appraisal firm; obtaining appraisal experience with both residential and small commercial properties. In 1994 she started her own firm and now does only residential appraisal work. Penny specializes in the unique and unusual properties, completing assignments for probate, divorce, estate planning, litigation & expert witness testimony, earth movement, fire damage, and insurance claims. She is excited to have been a founding member of the East Bay Chapter of REAA and believes that the class information, variety of different people, and the industry networking that REAA provides to its members are invaluable in our changing work environment. When she has time away from the appraisal industry, she can often be found working in local community theater.