“Understanding and Appraising properties with Accessory Dwelling Units (ADUs)” – a free seminar December 16, 2011 in Portland

[EDITOR’S NOTE: this event has already occurred! For a synopsis of results, click here.]

(for an emailable PDF of this invitation, click here)

A presentation for real estate, building, and planning professionals
by Martin John Brown and Taylor Watkins

Friday, December 16, 2011, 1:00 – 3:30pm
Metro Council Chambers, 600 NE Grand Ave, Portland, OR 97232
Cost: free
(see below for transit and parking options)

SYNOPSIS

Accessory dwelling units (ADUs) are widely touted by planners and activists for social and environmental reasons. ADUs promise to increase housing density without changing neighborhood character, increase the number of rental units, and assist aging in place.

However, ADU financing and development are inhibited by misunderstanding of ADUs among real estate professionals and lending institutions. In particular, residential appraisers struggle with the valuation of properties featuring ADUs, because the standard sales comparison approach to valuation is often unworkable.

In this presentation, researcher Martin John Brown and appraiser Taylor Watkins will describe an appraisal method they have developed for properties with ADUs, a method based on the income approach to value. They will demonstrate the application of this method to a sample of 14 Portland properties and contrast their results to sales-based figures. They will end with a Q&A/brainstorming session on how lending and appraisal policies might affect the scale of future ADU development.

SPECIAL THANKS

This research was supported by a grant from The Appraisers Research Foundation, and a grant of services from rdbOregon.com. This presentation of research results is supported by donations from Hammer & Hand and Green Hammer Design & Build. The presentation venue is being provided by Metro. Thank you!

TRANSPORTATION AND PARKING OPTIONS

Metro encourages the use of MAX, bus and carpool for travel to and from the Metro Regional Center. You can learn more about these options at http://trimet.org/. The Metro Regional Center no longer validates parking for visitors. Here are some parking options for visitors conducting business at Metro:

· Irving Street Garage, 600 NE Grand Ave ($6 daily)
· Lloyd Center Tower, 825 NE Multnomah ($2 hourly; $8 daily)
· Liberty Centre, 650 NE Holladay ($2 hourly; $8 daily)
· Lloyd 700 Building, 700 NE Multnomah ($2 hourly; $8 daily)
· 7th and Holladay ($8 daily)
· 1201 Building, 1201 NE Lloyd ($6 daily)
· Lloyd Doubletree, 1000 NE Multnomah ($8 daily)
· State of Oregon (surface), 800 NE Oregon ($1 hourly; $8 daily)

About Martin John Brown

Martin John Brown is a researcher and consultant on environment and housing. Find out more at http://martinjohnbrown.net.

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