Sunday, November 19

Market Analysis/Multi-Family Services

GAR Associates LLC has been performing real estate appraisals and consulting services for over 35 years. We have successfully proven to our clients that we maximize technology allowing us to grow, change and adapt. Our focus has been and will continue to be to listen to our client's needs and work together to meet the challenges we face in the real estate profession. We continue to maintain three integrated divisions in our corporation: commercial, including market analysis and housing, residential, and governmental services.

 Our commercial clients include banks and private lenders, investors, municipalities and government agencies, developers and property owners, accounting firms, attorneys and realtors.  Our clients are national in scope, but our work effort is primarily concentrated throughout Upstate New York and the Northeast.  We have the experience and the capability to service other northeastern and national territories.

 Our Multi-Family services have grown out of an increased need for market studies, appraisals and consulting for newly developed and existing housing projects. On an annual basis, we complete around 300 market studies and appraisals in conjunction with a wide variety of multiple family housing including:

  • Proposed developments using Low-Income Housing Tax Credits.
  • Market studies and appraisals required under the HUD MAP guidelines.
  • Market studies in conjunction with proposed market rate housing projects.
  • Senior specific as well as family developments.
  • Preliminary market screening/analysis.
  • Real estate appraisals for all types of multi-family and residential housing.
  • Student Housing

Our market studies are prepared in conjunction with the requirement of the end user.  We are approved under the HUD MAP Program, and recognized by New York State HCR, Fannie Mae and Freddie Mac as a provider of such studies.  We have also prepared market studies for multiple state allocating agencies which have found our reports acceptable and we are approved on certain state lists; work has been completed and was submitted to various states including Arizona, Massachusetts, Vermont, Pennsylvania and New York. Over the past decade, GAR Associates has been active in completing numerous studies in conjunction with submission for Low-Income Housing Tax Credits issued by NYS HCR.  We have completed studies across New York State, spreading from metropolitan New York City to Western New York, and areas in between. Based on our experience here, and in conjunction with our NCHMA ties, we have expanded our studies to other areas including work in: Arizona, Vermont, New Jersey, New Hampshire, Massachusetts, North Carolina, Michigan, Florida, Connecticut, Pennsylvania, Nebraska and Iowa. From fall 2010 to fall 2012 Mr. Allen served as the Chairperson for the NCHMA, and  is currently on their executive committee, and serves on the Board of Director for their parent organization; NH&RA.

 We recognize that completion of such studies is a critical component of development for housing across the country.  This is especially true in limited growth markets, where specific projects must find a supportable market "niche" in order to achieve operating success.  Our studies identify specific supply and demand variables that are important to consider for the wide array of housing options. We are also aware of and address the concerns in the current economic climate related to Affordable Housing Markets. Given the heightened sensitivity and demand for high quality development efforts, there has been an increased concern pertaining to Market. We feel that a strong and dependable study helps projects from the standpoint of the developer, State Allocating Agencies, and the Syndicator/Financial market place. 

 

For additional information on market studies please contact:


M. Scott Allen, Vice President (
HUD & Market Study) 

(716) 691-7100 Ext. 3019

sallen@garappraisal.com

 

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