RAC Town Hall - April 19, 2024
Clearing the Muddy Waters of the Short-Term Rental Market
This panel of appraisal experts will discuss the different types of short-term rentals and how they can be valued. Although every market is different, the processes discussed will give a basic overview of the tools and methodology used to develop a value. In addition, we will share a recent personal experience of establishing and operating an STR and end with an overview of the tools available and data sources to aid in the valuation process.
Betsy Hughes, SRA, AI-RRS is a State-Certified Residential Appraiser, a designated member of the Appraisal Institute, and owner of BK Appraisal Services. Her primary services include residential real estate appraisal services throughout the Hampton Roads area of Virginia and Northeastern North Carolina. She specializes in appraising beach houses and high efficiency homes.
Betsy currently serves on the Appraisal Institute Education and Relief Foundation board. Over the past 10 years she has served in all positions on the board of the Hampton Roads Chapter of the Appraisal Institute including chapter President in 2019. She is the current President of RAC (Relocation Appraisers and Consultants) after serving on the board for six years. She was the Appraisal Committee Chair for the Hampton Roads Realtors Association and was the President of the National Association of Women Business Owners (NAWBO) of Southeastern Virginia in 2014-2015.
Jason L. Ferris, MAI, SRA is the principal owner of Bell Ferris, Inc., fka Lin Bell & Associates, Inc. Jason is licensed in Kentucky, Indiana, and Ohio, experienced since 2003 in residential valuations in Louisville, Lexington, Cincinnati and Dayton and commercial properties in Louisville, Cincinnati and Dayton. Jason's experience includes residential valuations on properties, including FHA loans and Fannie Mae owned REO properties, commercial valuations on multi-family, office, industrial, development land, institutional, retail and special-purpose properties, commercial right of way and acquisition valuations for property owners in negotiations with taking authorities, tax appeals to County Taxing Authorities in Kentucky and Ohio, and testifying before the Hamilton County Board of Revisions for Tax Appeal and Kentucky Department of Transportation. Jason is a Qualified Expert Witness for Jefferson County Family Court, Louisville, Kentucky and the Kentucky Department of Transportation.
Jason has successfully completed numerous real estate related courses and seminars, sponsored by the Appraisal Institute and has been the instructor for AI's class entitled "Impact of Short-Term Rentals on Real Estate Appraisals".
Warren Boizot III, SRA, AI-RRS, RAA has been a residential appraiser in the Denver Metro area for 26 years and specializes in downtown high-rise condo units and new construction. He earned the Appraisal Institute SRA and AI-RRS designations and also carries the RAA designation from the National Association of Realtors. He is a past President of the Colorado Chapter of the Appraisal Institute and a current co-host of the Appraisal Institute’s monthly podcast, “Face Value”. Warren will be joining the panel to discuss his current experience turning his house in Denver into an Airbnb.
Friday, April 19, 2024, 2:00pm ET
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VIDEO LINK: https://drive.google.com/file/d/1OEekimYqhnBjlPVz5mVBc6M0QyHGHHzU/view?usp=drive_link
The Town Hall series is done in partnership with OERP Insurance and their sponsorship.
