Dori Bower, MAI
2020 Atlanta Area Chapter President
We find ourselves amidst an ongoing global pandemic affecting the real estate market as well as all aspects of the economy and much of our daily lives. These are unprecedented times, and the future is unclear. Now, more than ever, we can look to the Appraisal Institute for guidance. AI continues to provide up-to-date information on how the coronavirus pandemic is affecting the real estate market and appraisers around the world. You can find news and updates from federal, state and Appraisal Institute resources on the coronavirus Updates page on AI's website. The Appraisal Institute's body of knowledge is an invaluable resource that provides members the skillset necessary to continue being the top professionals in their fields. I urge you to take advantage of these resources which will enable you to provide the expertise that has come to be expected from designated members of the Appraisal Institute. If you are a residential appraiser, check out AI's new 7-hour seminar, " Rapid Response: Market Analysis in Volatile Markets," which will premiere Oct. 12, in Chicago. This seminar will show you how to locate current data for your clients, and how to rapidly and accurately read and report on market changes.
As our nation continues reflecting on matters of racial justice, the Appraisal Institute reiterated its efforts to expand opportunities for aspiring appraisers and help combat alleged bias in valuation. AI has several initiatives dedicated to promoting greater diversity within the real estate appraisal profession, including the Appraiser Diversity Pipeline Initiative with Fannie Mae and the National Urban League, and the Minorities and Women Course Scholarship Program from the Appraisal Institute Education and Relief Foundation. The Diversity Panel is discussing new steps that the Appraisal Institute can take toward an even stronger commitment to diversity and inclusion. Additionally, the Appraisal Institute has a newly formed Women's Initiative Committee. Please reach out to me if you are interested in any of these initiatives.
While it has been disappointing that our in-person educational opportunities, social and networking events have been cancelled and/or postponed due to the pandemic, I am proud of the success we have had with our virtual meetings and seminars. This new format has allowed us to continue to provide relevant, current, and local information to our Chapter members. While we certainly miss the opportunity to get together, it has been a convenient and cost-effective platform, and I do enjoy "seeing" everyone. We have Suzanne Brockway to thank for her ability to adapt and guide our chapter through this new reality. I am also looking forward to the 20th Annual State of Atlanta. We have a great program lined up so REGISTER today!
I welcome any suggestions for ways we can improve our member services and provide the support you need, and I look forward to seeing you at our live State of Atlanta webinars on October 8th and October 15th and the next virtual chapter meeting on November 11th. Stay safe, and take care.
Best Regards,
Dori D. Bower, MAI
Atlanta Area Chapter President 

20th Annual State of Atlanta:  The New Normal?
Program Website & Registration Found HERE 

This year's event will be delivered as a Zoom live video-conference on October 8, 2020 (3 hours) and October 15, 2020 (4 hours). Each day will cover different real estate and economic topics and will be presented by some of Georgia's most lauded real estate valuation and economic experts.  Attendees will learn from professionals in various industries and specialties, who will share their knowledge and perceptions on relevant local real estate.  
Topics for presentation and discussion will include: the current economy, economic forecast, single-family, residential, multifamily, property tax appeals, retail, hotels, industrial, office, Port of Savannah/Brunswick, and the local film industry's impact on the economy and real estate. 
Giving Back to the Community
 During the Pandemic

National Valuation Consultants' (NVC) Atlanta office continued  support of restaurants and healthcare workers within our local communities by providing meals to these critical workers for their hard work in the challenge of the current COVID-19 pandemic. Peter Lamas, MAI, regional manager of NVC's Atlanta office, Cheryl Bolas and Miles Finlay delivered approximately 100 boxed lunches from Newk's Eatery to the Emergency Room and COVID staffs at Northside Hospital and Emory - Saint Joseph's Hospital in Atlanta in appreciation for their service during the ongoing global pandemic. Company wide, NVC provided over 500 meals to show our support of local restaurants, healthcare workers and first responders in Denver, Dallas, New Jersey, Houston, and Atlanta.  

We would like to acknowledge and thank AI Members and Professionals for their contributions to the community, during these uncertain times and fluid environment, due to COVID-19. Please let us know if you and/or your company has donated time or money to the local community in an effort to provide some financial relief or assistance due to the pandemic.

AI's Vice Presidential Election Process Project Team

The Appraisal Institute announced Sept. 9 that President Jefferson L. Sherman, MAI, AI-GRS, has appointed a project team to examine the organization's vice presidential election process. The project team is chaired by Richard L. Borges II, MAI, SRA, AI-GRS, AI-RRS; and comprised of Ken P. Wilson, MAI, SRA; James L. Murrett, MAI, SRA; Heather M. Placer, MAI, SRA; and Lindel D. Schulze, MAI, AI-GRS.
AI professionals with recommendations on how the process can be improved should submit comments no later than Sept. 21 to Board Secretary Joan Barngrover at Findings will be conveyed to the Board of Directors.
Appraisal Concepts Refresher During COVID-19
by K.C. Conway, MAI
Director of Research & Corporate Engagement

The stock market's volatility during COVID-19 with greater than 2% up then down patterns is reflecting investor confusion over valuations. That same uncertainty over stock and bond valuations extends to commercial real estate. Thirty-five years of experience, combined with a legacy of growing up in a real estate developer family, has ingrained in me the principle that "when markets depart from fundamentals, valuations get distorted and corrections soon follow." This week's WIN examines this risk related to commercial real estate valuations. Three fundamental concepts rooted in appraisal theory dating back nearly three-quarters of a century can serve as valuable during COVID-19 as they have through every previous disruptive cycle since the 1970s. The difference today is we have history and established valuation principles to lean on to avoid the valuation mistakes of prior real estate crises.

Appraisal Concept #1 - Market Value:
Read More HERE
Meet Our New Designated Members

Matthew D. Anderson
National Valuation Consultants, Inc.
An Atlanta native, and working as a real estate professional since 2001, Matthew D. Anderson, MAI, AI-GRS has extensive experience in commercial real estate appraisal. Following his graduation in 2000 from the University of Georgia, where he earned a BBA degree with a concentration in real estate, he immediately joined McColgan & Company, Inc. (Atlanta, GA) in 2001. During his four-year tenure there, Matt earned his initial appraisal licensure in the State of Georgia and gained valuable appraisal experience under the direct mentorship of Brian McColgan, MAI. In addition to performing appraisals, he was responsible for mentoring new hires and assisted in appraisal review. In 2005, Matt joined National Valuation Consultants, Inc., the largest privately owned commercial real estate appraisal firm in the United States.  With Larry Stark, MAI, Matt Ansay, MAI, and Jeffrey P. Keller as mentors, Matt continued to build upon his appraisal experience working on high profile assignments throughout the United States for a multitude of institutional clients out of the Atlanta office of NVC, Inc.  In 2016, Matt signed on with SunTrust Bank (Atlanta) under the direction of Sandra Winter, MAI, AI-GRS, and K.C. Conway, MAI gaining insight into the lending side of real estate appraisal as a Real Estate Valuation Specialist responsible for engaging and reviewing third party appraisals.  After approximately two years with SunTrust Bank, Matt rejoined National Valuation Consultants, Inc. in 2018 and is currently serving as a Senior Vice President. Matt achieved designation as a Member of the Appraisal Institute in 2019, and his AI-GRS designation in 2020. He currently holds Certified General appraisal licensure in GA, TN, SC, and NC.  Additionally, he is a licensed real estate broker in the State of Georgia and is the owner/founder of MDA Real Estate, LLC.  Matt has two children, Abigail and Thomas, and enjoys live music, tennis, golf, soccer, basketball, snowboarding, and backpacking. 

Gregory Dupes, MAI
Valuation Services Director
Colliers International
Greg Dupes, MAI is a Valuation Services Director in the Atlanta office of Colliers International Valuation & Advisory Services. He joined the Valuation & Advisory Services group in November of 2017. Greg has been in the valuation industry since 2014, and previously worked for Duff & Phelps in Atlanta, GA as a Vice President in the Real Estate Advisory Group.
Greg is primarily focused on real estate valuation and consulting for institutional owners and operators. He specializes in the valuation of multifamily apartments, student housing, affordable housing and mixed-use properties. Greg also has experience in hotels/resorts, quick-service restaurants, shopping centers, malls, office buildings,and industrial properties. His appraisals and consultations have been used in connection with real estate portfolio valuations,financing, feasibility studies, mergers and acquisitions, financial reporting, workout and repositioning strategies, and insurable value studies.
Greg received his masters degree in real estate from the University of Florida and his bachelor of science in finance with a minor in real estate from the University of Florida.

Garrett W. Gerstung, MAI, AI-GRS
Sr. Vice President
National Valuation Consultants
Garrett joined National Valuation Consultants, Inc. in 2010 and currently serves as a Senior Vice President in the firm's Atlanta office. With more than 15 years of real estate appraisal and sales experience, Garrett has experience with all types of income producing properties and vacant land throughout the United States, as well as specialized assets such as cold storage, movie theaters and golf courses. Before joining NVC in 2008, Garrett worked as a Capital Markets Analyst providing underwriting and sales support to a team of investment brokers.

David B. Griffin, MAI, SRA, AI-GRS
Metro Appraisals
David B. Griffin, MAI, SRA, AI-GRS is the President of Metro Appraisals, which has been in business since 1988 and is headquartered in Gainesville, Georgia with a satellite office in Moultrie, Georgia. David is an MAI, SRA & AI-GRS Designated member of the Appraisal Institute, a Certified General Real Estate Appraiser in Georgia, Alabama, North Carolina, South Carolina and Tennessee, and a Licensed Georgia Sales Agent. He is also an associate member of the Atlanta Chapter of the Urban Land Institute.
Throughout his appraisal career, David has provided valuation and consultation services for a wide variety of both commercial and residential property types and has testified as an expert witness throughout Georgia for numerous court proceedings. He is a graduate of the University of Georgia with a Bachelor's of Science in Consumer Economics. He has been with Metro Appraisals since graduation in 2005 and has owned the company since October 2013.
David is currently an Alternate Regional Representative for the Atlanta Chapter of the Appraisal Institute. He has previously served as Chair of the Leadership Development Committee, been a member of the Chapter Developed Seminar Task Force Project Team and been a member of the Government Relations committee.
A native of Hawkinsville, Georgia, David currently resides in Gainesville, Georgia with his wife Maggie and sons, Henry & Samuel. He is a graduate of the 2019 Class of Leadership Georgia and a graduate of the 2013-2014 class of Leadership Hall County. In his spare time, he enjoys spending time with his family, traveling and recreating on Lake Lanier.
James H. Groover, MAI
Director Valuation & Advisory
Cushman & Wakefield
James Groover is a Director within the Valuation & Advisory (V&A) Group at Cushman & Wakefield. Mr. Groover is also part of the specialty Financial Reporting Practice within V&A focusing on engagements involving real estate related consulting services, with a primary focus on valuation for financial reporting (GAAP & IFRS), including fair value measurements (ASC Topic 820), purchase price allocations (ASC Topic 805), capital leases (ASC Topic 840), and reorganizations (ASC Topic 852).

Prior to joining Cushman & Wakefield, Mr. Groover was a senior associate of the real estate valuation practice at KPMG LLP, where he consulted with real estate clients in a variety of industries, including hospitality, healthcare, retail, manufacturing, and financial services.

Mr. Groover obtained a Bachelor of Science in Real Estate at the University of Georgia.

Brian Pendley, MAI
Pendley & Pendley Appraisers
Brian L. Pendley is a graduate of the University of Georgia with a Bachelor's of Business Administration in Economics. Brian is a second-generation appraiser and has been involved in real estate since a young age. He has worked as a commercial real estate appraiser for 15 years and is a Certified General Appraiser in the state of Georgia. He has extensive experience in the valuation of a variety of property types and a broad range of clients. In recent years, his practice has had a heavy focus on land valuation, eminent domain work, churches, and office and retail properties across north Georgia. Brian enjoys the research and analysis of the appraisal process and seeks to incorporate newer technologies to enhance the analytical analysis. He received the MAI designation from the Appraisal Institute in 2020.

A life-long resident of Forsyth County, Georgia, Brian currently resides in Cumming, with his wife and four children. He is an active member in the community, serving for years with the United Way of Forsyth County and Boys and Girls Club of Lanier. He is an active member of Oak Grove Baptist Church. In his spare time, Brian enjoys spending time with his family, woodworking, reading, and hiking.

John Ritger, MAI
Partner / Senior Appraiser
Core Hospitality Advisors, LLP

John earned his bachelor's degrees in Finance and Risk Management & Insurance from the University of Georgia in 2004. After UGA, John worked for KPMG for a few years; as a Senior Valuation Analyst for Hunter Hotels hotel brokerage from 2007-2012; and joined Cowart Hospitality Services, LLC in 2012 as a trainee appraiser.  In 2016, John and Adam Cowart formed Core Hospitality Advisors, LLP, to separate out the appraisal and consulting business from Cowart Hospitality Services, which continues to operate and develop hotels.

Barton C. Sands, MAI
Director, Valuation & Advisory
Cushman & Wakefield of Georgia

Mr. Sands was with the Valuation & Advisory group of Cushman & Wakefield of Georgia from 2011-2014 and was a member of the Residential Development and Golf specialty practice groups.  Mr. Sands rejoined Cushman & Wakefield of Georgia in 2018.  During his time away, Mr. Sands worked with BDO Consulting's Valuation Services and Calhoun Sands Valuation & Advisory, Inc. gaining valuable and diverse experience in commercial real estate valuation.  Mr. Sands is a commercial real estate appraiser with over 8 years of valuation and appraisal review experience in a variety of property types for a broad range of local, regional, and national properties.  Assignments have included valuation, market analysis, and advisory services on existing and proposed commercial properties including retail, industrial, office, medical, multifamily, restaurants, residential subdivisions, special-purpose and mixed-use.  Specialized experience includes the valuation of properties such as shooting ranges, golf courses, and other unique property types.  Other notable experience includes the development and review of financial reporting assignments including purchase price allocations.  Mr. Sands obtained a BBA in Real Estate at Georgia State University.

Ryan J. Walther, MAI
Senior Consultant, Research, Valuation & Advisory Practice
Altus Group

Mr. Walther is responsible for the appraisal and consulting of various types of core investment real estate throughout the continental United States. Property types include office, retail, industrial, multifamily, self-storage, and land.
Mr. Walther has a diversified background in real estate with primary emphasis in the areas of valuation, valuation management for investment analysis, portfolio asset management, acquisitions, dispositions, purchase price allocation, and attribution & performance evaluation analysis.

Mr. Walther obtained a BBA in Real Estate from the University of Georgia, Athens, GA.

Congratulations New 2020 
AI Designated Members!

Matthew D. Anderson, MAI, AI-GRS
Kelly A. Crouch, MAI, AI-GRS
Gregory A. Dupes, MAI
Garrett William Gerstung, MAI, AI-GRS
David B. Griffin, MAI, SRA, AI-GRS
James H. Groover, MAI
Brian L. Pendley, MAI
Melvin R. Poland, II, MAI
John Andrew Ritger, MAI
Adam C. Trammell, MAI, AI-GRS
Ryan Walther, MAI

Welcome New 2020 AI Professionals 

Candidates for Designation
Milton C. Bowling, III
Stuart M Gregg
William Drady Hendley, III
Patrick Alexander Kellner
Guilliaume Dee Kellogg
Marcus Andrew Kent
Sharon E. Washney

Practicing Affiliates
Cody William Barham
Louis Jackson, III

Rischonya Alridge

Live Virtual Education Schedule

Artificial Intelligence, AVMs, and Blockchain:  Implications for Valuation
(4 hours)
Doug Potts, MAI, AI-GRS


20th Annual 
State of Atlanta
The New Normal?
Part 1
(3 Hours)
Part 2
(4 hours)


Local Impact on Value Due to COVID-19 Update
(3 hours)
Save the Date! 
Details TBA

Thank You!
State of Atlanta Sponsors!








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