Short Course: The Basics of Pine Region Forest Land and Timber Appraisal
Location: Red Lion Hotel at the Park, Spokane, WA
This session is an intensive introduction to timber and timberland appraisal for natural resource professionals, appraisal professionals, finance, tax and legal professionals. You will learn how to construct an accurate appraisal for forest assets (timber and land). An accurately performed appraisal will help you receive top dollar when selling forest assets or bid at a competitive price when buying. Confidence in your appraisal will help to minimize business and financial risks, simplify your documentation and reduce the amount of outside appraisal review. The workshop is taught by Vic Mussel man and Norm Elwood, each with 40+ years of experience in forest appraisal, economics and taxation.
Timberlands located both east and west of the Cascade Mountains can be appraised with three generally accepted approaches to value. Each approach will be covered in this workshop and include: The Cost Approach, the Income Capitalization Approach and the Sales Comparison Approach. However, the methodology used in each approach varies between the two regions. This workshop will only cover eastside valuations and use individual tree orientation more in keeping with the uneven-aged forest management practiced in the region. This eastside methodology is not transferrable to westside valuations.
Tuesday • November 6, 2012 | |
8:00 | Introduction to Accurate Forest Land Appraisal
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12:00 | Lunch (included with registration) |
1:00 | Defining the class appraisal problem
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5:00 | Adjourn for the day |
Wednesday • November 7, 2012 | |
8:00 | Using the Cost Approach
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12:00 | Lunch (included with registration) |
1:00 | Preparation and allocation of timberland sale
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5:00 | Adjourn for the day |
Thursday • November 8, 2012 | |
8:00 | Using the Sales Comparison Approach
Using the Income Capitalization Approach |
12:00 | Lunch (included with registration) |
1:00 | Reviewing the basics of timberland discounted cash flow analysis: Putting the pieces together
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5:00 | Adjourn for the day |
Friday • November 9, 2012 | |
8:00 | Review of questions from Day 3.Determining the final estimate of value: Compare and reconcile results of the three appraisal approaches.Specialized Appraisal Topics and Techniques How to value forest land for higher and better use.Class wrap-up, discussion and evaluation. |
Noon | Workshop Adjourns |