The Harris Company, REA/C « The Harris Company, REA/C

The Harris Company, REA/C

August 4, 2006 · Filed under Commercial Real Estate Appraisal, Uncategorized

OUR WORK PLAN, A TECHNICAL / FORENSIC APPROACH
We believe the prerequisites of a successful real estate appraisal, consulting, and
valuation firm are diversity, an extensive background, and specialized knowledge that
when utilized appropriately are the catalysts for complex problem solving. Accordingly
we have developed a methodology and study approach which exploits the most recent
developments in computer technology for both data analysis and information
management. In addition to the commercially available software, utilized by our firm,
such as Word Perfect, MicroSoft Office, Generic CADD, FloorPlan, and Plan Ease we
have designed analytical software using Lotus 1-2-3, Fortran IV, and even Basic-A. Our
proprietary software was designed to prepare market data analysis, building load and
function analysis (based upon key design ratios), standard and discounted cash flow
analysis, sales comparison analysis, multiple regression analysis, lease vs. buy
analysis, and a complete development-investment-and-financial analysis au fait
participating mortgages and equity structures providing simple, cumulative, and
compound preferences.

In the areas of land use (highest and best use), economics, market analysis, and
planning our endeavors have resulted in the production of several computer models
that are capable of measuring the benefits and disadvantages of planned and sporadic
growth patterns. Aided by tools such as export base multipliers, location quotients,
input/output analysis, and aerial photography we have successfully tracked and
identified, economic and social factors, which have lead to regional prosperity or blight.

We are aware that some jurisdictions may have laws, administrative rules, regulations,
or ordinances that stipulate requirements in the valuation of real estate within their
jurisdictions. We are then bound to utilize these requirements and comply with USPAP
under the Jurisdictional Exception Rule.

We are well aware that we are in an information driven industry and to insure ready
access to the best and most recent information effecting the real estate industry, we
have made a significant investment in our library which contains Expert Witness in Civil
Trails by Mark A Dombroff, Construction Arbitration by Thomas Oehmke, and a
complete set of the following: California Real Estate Law 2d., by Miller and Stark;
selected volumes, including The California Eminent Domain Law of Deering’s
California Codes published by Bancroft Whitney. And, a complete text of the following:
Section 49, Code of Federal Regulations, Part 24 – The Uniform Relocation Assistance
and Real Property Acquisition for Federal and Federally Assisted Programs; The
Appraisal Guide, which provides guidance on appraising real estate for acquisition
under 49 CFR, Part 24b, May 2001; The Uniform Appraisal Standards for Federal Land
Acquisition, 1992; Title 2, California Code of Regulations, Office of Public School
Construction, Section 1859.44.1, Site Acquisition Guidelines; Title 5, California Code of
Regulations, Education, Section 1400, Minimum Standards; Title 25, California Code of
Regulations, Housing and Community Development, Section 6182, Acquisition; The
California Health and Safety Code Division 24, Section 33000, en seq – The California
Community Redevelopment Law; The California Evidence Code Section 810-824,
Evidence of Market Value of Property; The California Code of Civil Procedure Section
1258.210-1258.300, Discovery-Exchange of Valuation Data; The Los Angeles County
Superior Court Rules, 1995; and via the Internet, California Law, which consist of 29
codes, covering various subject areas, the State Constitution and Statutes. Information
presented reflects laws currently in effect.

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