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Qualifications of William C. Forrest
MAI, ASA
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General
- President of REVAC,
Inc.
- Real Estate Appraiser
and Analyst with Marshall and Stevens, Inc., Dallas, Texas from 1973
to 1976
- Right of Way
Appraiser Negotiation - Mississippi Highway Department from 1969 to
1972
- Licensed Real Estate
Broker, State of Texas since 1973, License No. 213693
- University of
Houston - Downtown Campus Advisory Board, Real Estate Department from
1978 to 1980
- Real Estate Index,
Emeryville, California, Advisory Board
Professional
Affiliations
- Appraisal Institute,
member since 1976, Certificate No. 5526 (MAI Designation) currently
certified
- State Certified
General Real Estate Appraiser for the State of Texas, Certificate
Number TX-1320155-G
- State Certified
General Real Estate Appraiser for the State of Louisiana, Certificate
Number 0687
- Certified
Environmental Inspector, Membership No. 7210
- Member of Business
Valuation Institute No. 604
- American Society of
Appraisers, senior member since 1977 (ASA Designation in Real
Property) currently certified
- Sponsor Member,
National Golf Foundation
- Texas Senior
Property Tax Consultant No. 1264
Educational Activities
- Completed Real
Estate Appraisal Courses I, I-B3, II, IV, VI, and Standards of
Professional Practice, sponsored by the Appraisal Institute
- Bachelors Degree in
Public Administration with specialization in city planning and land
economics, 1969, University of Mississippi
- Completed Educare
course on the use of on-line computer systems in Real Estate Analysis,
University of Wisconsin
- Completed Shopping
Center Seminar at Southern Methodist University sponsored by Appraisal
Institute, Chapter 17
- Two day seminar on
the Management of Investment Properties, sponsored by the Society of
Certified Property Managers
William C. Forrest/Page Two
- Four CE units on
Real Estate Development and Investment, Eastfield College, 1975
- Feasibility Seminar,
Southern Methodist University, 1976
- Business Valuation
Seminar, University of Houston, 1978
- Oil and Gas
Valuation Seminar, University of Houston, 1978
- Oil and Gas
Valuation Seminar, Texas A & M, 1982
- Hewlett Packard 12C
Seminar, sponsored by Appraisal Institute, 1989
- Highest and Best Use
Seminar, sponsored by Appraisal Institute, 1990
- Review Appraisal
Seminar, sponsored by Appraisal Institute, 1990
- Discounted Cash Flow
Analysis, sponsored by Appraisal Institute, 1990
- Standards of
Professional Appraisal Practice, 1998
- Vacancy Seminar,
sponsored by American Society of Real Estate Counselors on hotels,
office buildings, and industrial properties
- Understanding
Limited Appraisals and Appraisal Reporting Options
- Preparing and
presenting an ethical Ad Valorem Tax Protest, 1999
- Standards of
Professional Practice, 2000
- 14th Annual Real
Estate Law Conference, South Texas College of Law, 1998
- 15th Annual Real
Estate Law Conference, Texas A & M, 2001
Appraisal Experience
William C. Forrest has appraised the following types of properties:
Commercial, industrial, residential, special purpose properties; which
include service stations, bowling alleys, warehouses, apartment complexes,
hotels/motels, shopping centers, large undeveloped acreage, golf courses,
lumber yards, single-family residences, funeral homes, churches, nursing
homes, large industrial facilities, oil refineries, and waste treatment and
water plants. (Speciality - Multi-Family and Hotels).
He has appraised properties for the following purposes: Sale/purchase,
insurance, rental, financing, inheritance tax, ad valorem tax,
condemnation, investment tax credit, component depreciation, and court
testimony.
Testified as an expert witness on Real Estate in Texas, Mississippi, New
York and California courts, and Federal Bankruptcy courts over 350 times.
Publisher
Publisher of the "Apartment Occupancy and Rental Survey" and
REVAC's "Real Estate Reports" for Harris and Montgomery Counties,
Apartment Ownership Guide, and Retail Ownership and Rental Guide, Houston
Retail Market Survey, Office Building Survey, Houston Market Trends
Newsletter and book on Houston market trends. Developed CID SourceNet, a
computer network of over 2,500 independent real estate appraisers, brokers,
leasing agents with commercial listings for sale and for lease, sales data,
ownership and rental data for all type of commercial properties.
Lecturing Activities
Ahrens School of Real Estate, a class of Century 21
students.
Instructor at University of Houston, June 1977, and
September, 19780-1981
Houston Apartment Association
Houston Society of Certified Public Accountants
Houston Association of Realtors
Partial List of Clients Serviced
Banks – Savings and Loan
Associations – Mortgage Companies – Credit Unions
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NCNB Texas National Bank
Cullen/Frost Bankers
Hong Kong Bank/Houston
Bank of America
River Oaks Bank and Trust/Houston
Chase Commercial Corp.
American Bank – Houston
CitiCorp Industrial Credit*
North Texas Savings & Loan/Denton
Wells Fargo Bank
Chase Commercial Corp.
Black Hawk Federal Savings &Loan Assn
TCF Bank, FSB
Laredo National Bank*
NBC Bank – Houston – San Antonio
Community Savings
Post Oak Bank – Houston
First National Bank of Dallas
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First Bank & Trust of Bryan
Hong Kong Bank – New York, New York
Washington Mutual Bank
Amoco Houston Credit Union
Guaranty Federal Savings – Galveston Government Employees Credit
Union
CitiBank of New York*
CitiCorp Real Estate, Inc.
Pacific Southwest Bank, FSB
Pacific First Federal – Tacoma, Washington
Goldome Credit Realty Corp.
Bank One
First National Bank of Chicago
Lehigh Financial
Texas Banc, FSB
Bank Plus
International Bank of Commerce – Laredo
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Professional Service Firms: Accountants – Attorneys – Brokers
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Hoover, Bax & Shearer
Bulter Binion, Rice, Cook & Knapp, Attys
Baker, Botts, Attorneys
Pannell Kerr Foster
Arthur Andersen
Roland & Keim, Attys
Price-Waterhouse
American Appraisal Company
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Coldwell Banker
Nebyn-Peterson
International Appraisal Co. of New York
Vinson-Elkins, Attys
Marshall & Stevens
Thomas Karstens Associates
Robert Yeager, CPA
Maddox, Perrin & Kirkendall, Attys
Thelen, Marrin, Johnson & Bridges, Attys
Miller & Martin, P.C.
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Corporate Clients
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Nabisco
Gulf Oil Corp
Mac Haik Enterprises
Texaco, Inc
United Salt Corp
Phillips Petroleum Corp
Austin Steel Co., Inc
Michelin Tire Division
Glover Meat Packing Corp
Drever Partners, Inc
Ratcliff Corp
C.J. Brown Investments
Trammell Crow Residential
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Charter Marketing
Main Packing Plant
Merrill Lynch
Reef Industries
Woolco Department Stores
Powell Industries
Jack in the Box
Carson Estates
Granada Land & Cattle Co
Global Services, Inc
Dannenbaum Engineering
Merrill Lynch Business Financial Services, Inc
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Builders – Developers – Syndicators – Management
Companies
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Golder Corporation
Montgomery Realty Investors
Johnson Housing Association
Hotel Development Serv. Inc
Admiralty Realty
Oceanic Development Company
Arlington Corporation
Todd Moore Properties
Sumar Management
Homart Development Company
J&B Management
Lei Triomphe
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Cloverleaf Group, Inc
Drever Partners, Inc
Wilshire Realty, Inc
Chester J Reed
C.S.M. Inc
Bankers Construction Company
Associated Financial Corp
MHB Companies
Crystal Properties
The Dinerstein Companies
The Hettig Companies
Affordable Housing Developers, Inc
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Insurance Companies
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Prudential
Private Mortgage Insurance Corp (PMI)
The Insurance Co. of North America
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Mortgage Guarantee Insurance Corp
Mass Mutual
Sun America
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Governmental Agencies
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I.R.S. Estate Tax Division
General Services Administration
F.D.I.C.
U.S. Corps of Engineers
City of Houston
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F.S.L.I.C.
Housing & Urban Development (H.U.D)
F.H.L.B
Resolution Trust Corp.
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References
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Thomas A Hardin
Ruben Lopez, Jr.
Cullen/Frost Bankers, Inc
International Bank of Commerce
100 West Houston St
1200 San Bernardo
P.O. Box 1600 Laredo, TX 78040
San Antonio, TX
78296
(210) 722-7611
(512) 220-5361
Mike Fowler
Barry J. Hawk, Credit Process Review
Sunamerica
Southwest Bank of
Texas, N.A.
1 Sunamerica Center
12130 Hempstead Rd
Los Angeles, CA
90067
Houston, TX 77092
(310) 772-6000
(713)225-3800
Bob Phillips
Sharon Fintoski
Texas State Bank
Column Financial
1000 Main St
5100 Tennyson Parkway, Suite 2400
Houston, TX
77002
Plano, TX 75024
(713) 561-0423
(972) 473-8100
Carl Ogden
Jerry Johnson, Chief Underwriter
Davis-Penn Mortgage Company Red Mortgage
Capital, Inc
12612 Featherwood, Suite 200 150 E. Gay Street, 22nd Floor
Houston, TX
77034 Columbus, OH
43215
(281) 481-2400
(614) 217-1561
Jay Ohrt
Richelle Perkins
Hibernia Bank
Capri Capital Finance
LLC
7602 North Navarro
1655 North Fort Myers
Dr, 13th Floor
Victoria, TX
Arlington,
Virginia 22209
(361) 576-3181
(703) 243-5100
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