Clear Capital Hires Veteran Appraiser to Lead Commercial Valuations Team and Develop Solutions to Help Clients Better Evaluate Properties
TRUCKEE, Calif. – October 5, 2011– Clear Capital (clearcapital.wpengine.com), announces the release of its next generation of commercial valuation products today, and the appointment of Erik Lundquist as Director of Product Management, leading the company’s commercial valuations efforts. Lundquist will oversee the creation and delivery of Clear Capital’s current and future commercial valuation offerings, including Broker Price Opinions, Evaluations, Appraisals and Property Condition Inspections.
The commercial market has shown similar trends as the residential market over the past few years, including steep price declines largely due to the increase in distressed properties and general oversupply of loans. These factors are driving the need for a wide variety of high quality commercial valuation products.
Clear Capital is launching its next generation of Commercial Broker Price Opinion (BPO) and Commercial Evaluation products at the California Mortgage Bankers Association’s 14th Annual Western States CREF Conference at the Wynn Encore resort in Las Vegas this week. The elegantly re-designed Clear Capital Commercial BPO can serve as an alternative to traditional commercial appraisals when a high quality, fast, and clear opinion of selling price is needed on a commercial property. The Evaluation product was developed to provide accurate values of commercial property when it is being used as collateral for a business loan under $1 million in certain states. The Clear Capital Evaluation is fully compliant with Interagency Guidelines and is designed to lower the cost and shorten the delivery time for valuations used for these types of loans.
“For over eight years, we have performed various commercial valuations, and studied the needs and changing environments. Commercial has always been in our DNA,” said Kevin Marshall, President of Clear Capital. “Our latest round of commercial products is not only a game changer in form, but is fully compliant to the latest standards, and delivered with our unmatched service and quality levels—a huge need in the commercial valuation space.”
Erik Lundquist has an impressive background of more than 10 years in the commercial real estate industry. Prior to joining Clear Capital, he worked at one of the leading commercial appraisal providers in the Sacramento area where he performed valuations for a wide variety of properties types including retail, office, industrial, agricultural, multi-family and special purpose properties.
“I was drawn to Clear Capital’s strong vision, and am excited for the opportunity to change the way the world looks at commercial real estate valuations,” said Lundquist. “Clear Capital finds innovative and forward-thinking ways to better serve customers that are truly game changers.”
Lundquist joins an existing staff with deep commercial experience and many certified general appraisers, including the company’s Executive Vice President and Chief Appraiser, Dave DeMello, who also brings years of commercial valuation knowledge and experience.
“Our team was fortunate to work alongside Erik prior to his joining Clear Capital, and knew he was a perfect fit for our organization,” continued Marshall. “His extensive knowledge and strong background in commercial valuations as an appraiser is accompanied by his creativity and a deep care for our clients.”
Clear Capital’s next generation of commercial offerings meets the needs of loan servicers, loan investors and loan due diligence providers and lenders, whether they’re looking for a reliable sales comparison, income capitalization BPO, or an inexpensive commercial alternative to traditionally available products. Today’s release by Clear Capital builds on the company’s long time commitment to the commercial market in both products and staffing, and the company expects to announce further commercial offerings and investments in upcoming months.
