Lipman Frizzell & Mitchell

Real 4Estate Counseling and Appraisal firm that serves a wide variety of clients in the public and private sectors, including corporations, institutions, governments, attorneys, investors and individuals. While the firm is regional in scope, serving all of Maryland, Washington DC, Northern Virginia and Delaware, our primary focus is on real property in and around the Baltimore and Washington DC metropolitan areas.

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About Us

Five of the partners hold the MAI designation of the Appraisal Institute or other advanced degrees. Academic degrees and professional designations are combined with hands-on real estate investment, development and ownership expertise, offering years of valuation and counseling experience. Most of the partners also hold the CRE (Counselor of Real Estate) designation. Members of the firm are affiliated with the Appraisal Institute, the American Society of Real Estate Counselors, the National and Maryland Associations of Realtors®, Coastal Association of Realtors and the National Association of Industrial and Office Properties. Members of our firm hold professional appraisal licenses from Maryland, the District of Columbia, Delaware, Virginia and Georgia.

Services

Appraisal/Portfolio Valuation

Lipman Frizzell & Mitchell LLC has been providing appraisal services since 1977 and is recognized for reliable, objective and timely valuations. The Appraisal Institute, the leading professional organization in the field, defines an appraisal as an unbiased estimate of the nature, quality, value, or utility of an interest in, or aspect of, identified real estate. Lipman Frizzell & Mitchell LLC is on the cutting edge of sophisticated valuation techniques consistent with the Institute’s definition, embracing computer-assisted models as well as the more traditional market research and valuation procedures. Our expertise covers all types of real property from vacant land to complex income-producing properties and the most sophisticated mixed use developments. Read More...

Counseling/Property Evaluation

As a consulting firm, Lipman Frizzell & Mitchell LLC assists its clients in making real estate-related decisions by developing strategies and solutions to assist owners and potential investors in solving problems, improving current and future profitability, and increasing value. Read More...

Transactional Consulting

Transactional consulting has become an important facet of counseling for Lipman Frizzell & Mitchell LLC. We have been consistently successful in marketing select properties, resulting in both timely and profitable transactions for our clients. Our philosophy for success involves preparation of complete, objective and informative marketing packages in which we address those factors a prospective purchaser needs to consider, thus accelerating market response and effectively shortening and/or eliminating contingency periods. Read More...

Feasibility Analysis/Real Estate Economics

Joseph M. Cronyn has been a principal with Lipman Frizzell & Mitchell LLC since 1997and a partner since 2003. He holds a Bachelor's degree from Boston College and a Master of Business Administration degree from Loyola University Maryland. Joe has a broad professional background in real estate research, sales and marketing, development, public policy and financing. His experience includes market and financial feasibility analyses of major real estate projects; fiscal and economic impact analysis; land acquisition and development of commercial and residential properties; planning for mixed use development, including historic preservation concerns; tax-motivated and conventional financing for single family and multi-family residential projects; TIF (Tax Increment Financing) bond financed development; due diligence research; and advising public, non-profit and private clients concerning economic and community development strategies. Read More...

News

Acquisitions by Eminent Domain Require a Very Specific Set of Appraisal Skills

8 August 2016

The role of the appraiser is very different when appraising real estate to be acquired by eminent domain than when appraising real estate that is purchased in standard open-market transactions.

"Eminent domain is defined as the right of the sovereign government to take private property for public use upon payment of just compensation." This right is granted to the United States, states, and municipalities, together with their various public agencies. It may also be granted to private persons and corporations. Eminent domain is sometimes also referred to as "condemnation."

Fractional Interest Appraisals in the Context of Estate Planning

9 June 2016

Whether gifting an interest in real property to an heir or paying estate taxes, the rights held by the ownership interest are extremely important. If that ownership interest is less than 100%, it can have a tremendous impact on the potential tax savings.

Fractional ownership is simply a percentage ownership in an asset. Owners of fractional shares in an asset share the benefits of that asset, such as usage rights, income sharing, priority access and/or reduced rates.

Why is this important? Because there are issues that affect ownership of a fractional interest that do not apply to 100% fee ownership in real estate. Fractional interests are generally discounted for issues pertaining to a lack of control and a lack of marketability.