Over the last two years, Simonson Appraisals has completed multiple portfolio assignments for highway right-of-way (ROW) expansion and reconfiguration projects across Minnesota and North Dakota. These projects involved 20+ properties at a time, requiring consistent methodology, fast turnaround, and clear communication with engineering firms managing acquisitions on behalf of the state Departments of Transportation (DOTs). Our…
Category: Appraisals and Property Valuations
Case Study: Appraisal Helps in Significant Property Tax Savings Achieved for Full Service Hotel
Overview:Simonson Appraisals recently assisted in a property tax appeal involving a 200+ room full-service hotel in the Minneapolis/St. Paul metropolitan area. Our client was the property owner, who was represented by local property tax appeal attorneys. Simonson Appraisals conducted an appraisal report and was prepared to testify at trial. The case settled shortly before the…
MREJ Mid-Year Apartment Summit
Insights from the Simonson Appraisals Team Panel 1: Development in Minnesota The Itasca Project aims to add 18,000 new units annually to offset the slowdown from the Great Recession. In both 2024 and 2025, approximately 12,000 units are projected—about two-thirds of the target. Population growth in the Twin Cities has rebounded, with the region now…
Downtown Minneapolis CRE Market Update
Downtown Minneapolis, despite current headlines in real estate and news articles, remains a major driver of our economy and state. We need a thriving downtown economic engine. It spills out into every aspect of the economy and beyond. With many great speakers, here are my top distinctions from the Downtown Minneapolis Summit hosted by the…
Valuation – How Much is My Property Really Worth?
The value of a commercial property is an important piece of information in many aspects. Whether you’re the purchaser looking for financing, the seller hoping to attain maximum profit, the appraisal review department at a bank, or an attorney –the value is what provides you with the confidence to make the right decision for your…
Working With Your Appraiser Helps Deliver a More Reasonable Value
The role of the appraiser is to provide objective, impartial, and unbiased opinions about the value of real property—providing assistance to those who own, manage, sell, invest in, and/or lend money on the security of real estate. Here are a few things that highlight the items important to prepare an accurate and reasonable appraisal. When…
2020 Banking and Construction Lending Trends for Minnesota
On March 11, 2020, the World Health Organization announced COVID-19 as a global pandemic (this day also happens to be my birthday so good or bad, it’s an easy date for me to remember). Since then, market uncertainty has caused commercial investors to increasingly worry whether their commercial appraisal analyses are accurate. At Simonson Appraisals,…
Navigating the Appraisal Process – What You Need to Know
While commercial appraisals are a central part of evaluating real estate, the appraisal process itself can be frustrating and confusing – primarily since each assessment depends on the scope and nature of the specific property. My goal here is to help lenders, bank reviewers and appraisers better understand the commercial appraisal process to ensure projects…
“No News is Good News” – It’s What We Strive For
“No news is good news” is more than just a saying. It’s the outcome we strive for following the appraisal process. As an appraiser, it means we nailed that sweet spot and produced an accurate appraisal. The sweet spot is not a predetermined number or target, but rather a number that is within a comfortable…
COVID-19 Changed the Commercial Real Estate Appraisal World – Here’s How To Respond
I don’t need to tell you how much the world can change in 45 days. The speed at which the world as we know it is changing is astonishing. One thing that isn’t changing is our enthusiasm to deliver credible analysis for our clients while simultaneously providing guidance to our colleagues. Every day, our team…