Valbridge Property Advisors | Northern California is a prominent division of Valbridge Property Advisors, the largest independent commercial property valuation and advisory services firm in the United States. Established in 1976, the Northern California office has been delivering comprehensive appraisal and consulting services across 48 counties, encompassing the San Francisco Bay Area, Central Valley, Central Coast, and the northernmost regions of the state.
Company Overview
With offices strategically located in San Jose, San Ramon, Modesto, and Sacramento, Valbridge Property Advisors | Northern California offers a wide array of services, including:
- Appraisal and Consulting Services: Specializing in lending, buy-sell decisions, mergers and acquisitions, estate planning, litigation support, leasing, and project feasibility.
- Property Types: Expertise spans industrial buildings, subdivisions, endangered habitats, and unique properties like football stadiums.
- Litigation Support: Many appraisers are qualified as expert witnesses, having testified in numerous cases, including private arbitrations and jury trials in state and federal courts.
Notable Assignments
The firm's portfolio includes high-profile projects such as:
- Facebook’s proposed campus in Menlo Park.
- Millennium Tower in San Francisco, involving construction defect litigation.
- Vallco Town Center in Cupertino, a mixed-use project with 2,402 housing units.
- The "5M" site in downtown San Francisco, a 1.8 million square foot mixed-use development.
- Former HPE Headquarters in Stanford Research Park, Palo Alto.
- Chase Center in San Francisco, home to the Golden State Warriors.
- Ghirardelli Square and Macy’s Union Square in San Francisco.
Leadership Team
The Northern California team is led by seasoned professionals, including:
- Norman “Norm” Hulberg, MAI: Senior Managing Director with over 40 years of experience in appraisal assignments across all property types, specializing in condemnation, construction defects, contamination, and business litigation.
- Walter “Walt” Carney, MAI: Senior Managing Director with a background in consulting and valuation of diverse property types, including rights-of-way corridors, easements, open spaces, wetlands, and endangered species habitats.
- Yvonne J. Broszus, MAI: Managing Director of the San Jose office, with over 30 years of experience appraising all property types, including special-purpose properties like automobile dealerships, service stations, worship facilities, military bases, and airports.
Market Trends in Northern California
The Northern California real estate market has experienced notable trends:
- Home Sales: In the third quarter of 2023, 9,284 homes were sold, marking a 20% decrease from the same period in 2022. Sales were 8.4% lower than in the second quarter of 2023.
- Home Prices: The average sale price was $1.217 million, a 3.9% increase from the previous year, despite a 1.2% drop from the second quarter of 2023.
- Mortgage Rates: Rates continued to rise, reaching levels not seen since the fall of 2000, impacting affordability and buyer activity.
- Days on Market: The average time to sell a home was 36 days, consistent with the second quarter of 2023.
Conclusion
Valbridge Property Advisors | Northern California stands as a leader in commercial real estate valuation and advisory services, backed by a team of experienced professionals and a portfolio of significant projects. Despite market fluctuations, the firm's comprehensive services and deep market knowledge position it to navigate the evolving real estate landscape effectively.
