Bob Wright was a Political Science major at American University in Washington, DC and painting his way through school when he landed an appraisal research assistant job in 1974. His course selection shifted to business, real estate development, appraisal and law and urban development. His employer John J. Shank, MAI encouraged his professional development as Bob gathered experience and education for the MAI designation of the Appraisal Institute which he received in 1982 at 27 years old. Starting his own practice in Washington, DC in 1981, Bob’s appraisal business targeted tenant initiated housing development and conventional multifamily properties. His specialty in affordable housing development appraisals grew with the LIPRHA and IPHRA programs which allowed pre-payment and re-development of HUD financial/subsidized multifamily projects. Moving back to the Philadelphia Metro area where he had grown up, he added PA, NJ and DE to his Washington-Baltimore-Northern VA market areas.
The demand for Bob’s services has been especially strong when lenders and investors become more sensitive to market risk. The property could be a complicated mixed use development, new multifamily construction or substantial renovation, distressed property conditions or in stressed general market conditions – either high or low. Underwriters and reviewers consistently express their appreciation for the firm’s thoroughness, technical proficiency and depth of market knowledge.
Bob’s interest in housing has grown into ownership of a 5-property portfolio in three states ranging from 48 to 200 units. Bob’s interest in waveski surfing has led to his development of two single family subdivisions in Costa Rica.
The production of high quality appraisals demanded a quality team. August (Augie) Semple joined Bob in February 1992 bringing extensive single family home appraisal experience. Augie worked as a staff house appraiser in the late 1980s and early 1990s before beginning his career appraising apartments in 1992. His attention to detail and fast learning ability were crucial in his growth as a multifamily appraiser. Augie is a Certified General Appraiser in Pennsylvania, New Jersey, Delaware and Maryland. Augie is married to Susie and has three children, Karl, Katie and Abigail and one grandchild, Audrey. Augie’s passion for baseball continues as he participates each year in a local softball league.
David S. Johnston, MAI started working with Bob in 1999 and has devoted himself to gathering a wide range of multifamily valuation experience for various financing programs. Dave has received consistent praise for his ability to tackle the most complex appraisal problems. Dave lives in New Castle County, DE with his wife and three sons.
In recognition of the outstanding professional contributions Augie and Dave have made to his firm’s success, Bob has organized Multifamily Valuations, LLC with Augie and Dave as co-owners.