Dec 16th event for real estate, building, and planning professionals interested
- 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.
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 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.
I've posted the full announcement here: