Tony Correia has been in the real estate appraisal business since 1972, specializing in the appraisal of agricultural properties since 1982. He is currently a Principal and Owner of The Correia Company, and an Independent Contractor with the firm of Correia-Xavier, Incorporated, an independent appraisal firm focused solely on the appraisal of agricultural and rural properties, after serving as President of the Company for sixteen years. Mr. Correia holds the professional designation of Accredited Rural Appraiser, (ARA) from the American Society of Farm Managers and Rural Appraisers (ASFMRA), and is a Professional Member of the Royal Institution of Chartered Surveyors (MRICS). Mr. Correia is also certified by the State of California as a Certified General Real Estate Appraiser, Certificate Number AG008510.

After undergraduate work at Saint Mary’s College of California and Syracuse University, Tony graduated from California State University, Fresno, with a major and post-graduate work in English and a second major in Russian. Prior pursuits include former lives as a grape grower, partner in a large commercial real estate brokerage, various government positions, including a tour as an IRS examiner, and as a military intelligence analyst, cryptologist, and linguist. He now lives in Sonoma, with his wife Stephanie, and enjoys travel, great literature and music, fast cars, slow cooking, gardening, the study of wine, and the pursuit of knowledge.

APPRAISAL EXPERIENCE:

Properties appraised include all types of agricultural and rural properties, including some of the largest and most complex properties in California. Appraisal assignments have been completed in California, Arizona, Nevada, Oregon, British Columbia, Virginia, and Hawaii; and include:.

• Leasehold valuation of water rights on the Island of Maui, Hawaii
• the Getty Agri-Business Properties (77,000 acres of vineyards, orchards, facilities, and irrigated row cropland in seven counties)
• Very large holdings of vineyards and wineries
• Ultra-premium, boutique, or “cult”, wineries in Napa, Sonoma and Santa Barbara counties
• Conservation Easements on large (>80,000+ acres) Pacific Coast ranches
• several very large irrigated row crop farms, in excess of 50,000 irrigated acres
• the Almaden Vineyards in Monterey and San Benito counties, at the time, the largest assemblage of vineyard holdings in the world
• Undivided partial interest in the leased fee estate, subject to a Conservation Easement, in a world renowned vineyard
• the Sun World properties in Madera, Kern, and Riverside counties
• 127 parcels of Southern Pacific’s “excess land” in Westlands Water District
• In excess of ten years experience in the appraising of conservation easements

COURT EXPERIENCE:

• Mr. Correia has qualified as an expert witness in the Superior Courts of Kings, Merced, Madera, Fresno, Santa Barbara, Stanislaus, Sonoma, Sutter, Los Angeles, and Napa Counties, California; Washoe County, Nevada, the US District Court for the Eastern District of California, and Federal Bankruptcy Courts in Fresno, California, and Phoenix, Arizona, regarding property values and the economics of production agriculture.

PUBLICATIONS:

• The End of “California Dreaming?”, in Wine Business Monthly magazine, December 2008, Pg. 56.
• Insurance Companies Continue Tradition of Long-Term Ag Lending, in Wine Business Monthly magazine, November 2008, Pg. 74.
• Co-Author; Chapter 13,“Financial Aspects of Wine," Wine; A Global Business, Second Edition: 2008.
• Fresno State’s Viticulture and Enology Program, in Wine Business Monthly magazine, December 2007, Pg. 94.
• Wine Grapes in the Central Valley,Proceedings Booklet, Agribusiness Management Conference, November 7, 2007. (With Nat DiBuduo, et al)
• Land Values vs Grape Prices, in Wines and Vines Magazine, October 2007
• Wine Grapes in the Central Valley, Proceedings Booklet, 25th Annual Agribusiness Management Conference, November 3, 2006. (With Nat DiBuduo and Stanley Xavier, Jr.)
• Wine Grapes in the Central Valley, Proceedings Booklets, Annual Agribusiness Management Conference, 2005, 2004, 2003. (With Nat DiBuduo)
• California’s Thriving Vineyard Market, in Wines & Vines Magazine, October 2005, page 50.
• Buying and Selling Vineyard Land, paper presented at The Western Economic Association International Conference, San Francisco, California, USA, July 6, 2005
• Wine Renaissance Redux, Wine Business Monthly magazine, August 2001, Pg. 42.
• Co-Author chapter entitled, The Financial Picture of Wine,in the textbook, Wine; A Global Business: Success Strategies for New World Wine, published by Sonoma State University’s Wine Business Program, August 2004, second edition August 2008 (above).
• What Goes Around Comes Around, in Wine Business Monthly magazine, February 2003, Pg. 54.
• Grape Grief, or: When the Party’s Over, with Richard Brockmeyer, in Wine Business Monthly magazine, October 2001, Pg. 12.
• All Dried Up, The California Raisin Industry, in Wine Business Monthly magazine, August 2001, Pg. 42.
• Contributing Author, The Appraisal of Rural Properties, published by the Appraisal Institute, 2000.
• Locational Considerations in the Valuation of Permanent Plantings, in the 2000 Journal of the ASFMRA, Pg. 35.
• Vineyards as Investments, in Practical Winery and Vineyard Magazine, January 1999.
• Romance of the Vine, in Grape Grower Magazine, May 1996.

OTHER:

• Past President, and Past Executive Board Member, California Chapter of the ASFMRA
• ASFMRA National Committee Chairs; Technology; Appraisal Education; Public Relations
• Member and Past President, Chapter 50; International Right of Way Association
• Past Member and Director, San Joaquin Valley Ag Lender's Society
• Past Member and Chairman, County of Fresno Tax Assessment Appeals Board, 1982 - 1996
• Member, California Association of Wine Grape Growers
• Affiliate Member, American Society for Enology and Viticulture
• Member, Planning Committee, Unified Wine and Grape Symposium
• Member, Steering Committee, Wine Industry Financial Symposium
• Intelligence Analyst and Russian Linguist, U.S. Air Force Security Service (1963 - 1967)

PROFESSIONAL EDUCATION: Successfully Completed the following professional courses:

• Bachelor of Arts Degree - California State University, Fresno, 1970, Graduate School, 1970 -72
• American Society of Farm Managers and Rural Appraisers (ASFMRA): Advanced Rural Appraisal; Principles of Rural Appraisal; Administrative Appraisal Review; Income Capitalization Leveraged; Advanced Appraisal Review; Report Writing; Standards and Ethics; Advanced Resources, Conservation Easements, Fractional Interests
• Appraisal Institute: Appraisal Regulations - Federal Banking Agencies; Business Valuation Part I & II; Vineyard & Winery Valuation; Wetlands; “The Masters Class,” Undivided Interests, Case Studies in Limited Partnerships and Common Tenancies
• American Society of Appraisers (ASA): Principles of Business Valuation; Parts One - Four; BV201 – BV204
• International Right of Way Association (IR/WA): Appraisal of Partial Acquisitions; Legal Aspects of Easements; The Valuation of Easements
• Society of Real Estate Appraisers: Introduction to Appraising Real Property

EDUCATIONAL EXPERIENCE:

Mr. Correia instructed the Introductory Class in Farm Appraisal at California State University, Fresno, from 1984 to 1996, and succeeded in certifying that class for full ASFMRA credit, California State OREA credit, and full CSUF credit. He has also developed, instructed, or co-instructed, the following classes, for the respective professional associations, in the following locations:

• Market Value and Fair Value, AI, ASFMRA, RICS, and ASA, Washington and Oregon
• Vineyard Valuation, CALASFMRA, California
• Fair Value Accounting and the Appraisal Profession, ASFMRA, RICS, and ASA, California
• Valuation of Conservation Easements, served on course development team composed of members from ASFMRA, ASA, Appraisal Institute, and Land Trust Alliance
• Conservation Easement Appraisal, ASFMRA, Calif., and the Appraisal Institute, Hawaii
• Agricultural Lease Valuation, ASFMRA, the Appraisal Institute, and the State of Hawaii, Hawaii
• Vineyard Valuation, Appraisal Institute, Washington
• Summer Wine; Vineyard and Winery Valuation, ASFMRA, ASA and the Appraisal Institute, California
• Valuation of Winery Assets, Appraisal Institute, Washington
• Agricultural Real Estate Valuation and Business Enterprise Value, ASFMRA, Texas
• Appraising Permanent Plantings in Rapidly Changing Markets, ASFMRA, California, and Valuation2000
• Multi-Disciplinary Approach to Property Valuation; ASFMRA, ASA and the Appraisal Institute, Valuation2000
• The Appraisal of Agricultural Related Businesses, ASFMRA and the ASA, New Jersey, and California;
• Valuation of Easements, IR/WA, California;
• Fundamentals of Rural Appraisal, ASFMRA, California;
• Principles of Rural Appraisal, the Mexican Institute of Valuation, Mazatlan and Mexico City, Mexico;
• Administrative Appraisal Review, ASFMRA, California, Arizona, and Montana;
• Advanced Income Capitalization, UnLeveraged, ASFMRA, California, Montana, and North Carolina;
• Advanced Resources (Water, Minerals & Timber), ASFMRA, Colorado;
• Rate Extraction, ASFMRA, Louisiana, Texas, Oregon, and Florida;
• Advanced Rural Case Studies, ASFMRA and the Appraisal Institute, California;
• The Appraisal of Permanent Plantings, ASFMRA, California, Arizona, Oregon, and Florida

APPRAISAL CLIENTS:Mr. Correia has appraised properties, on a fee basis, for a broad spectrum of clients, including

• Federal, state, and local government agencies,
• Major local, national and international banks,
• Major insurance companies,
• Pension funds, and pension fund advisors,
• plus numerous attorneys, accountants, corporations, and individual landowners.

MISCELLANEOUS:Mr. Correia is currently a certified instructor for the American Society of Farm Managers and Rural Appraisers and has instructed appraisal classes in California, Hawaii, Arizona, Nevada, Montana, Colorado, Oregon, Washington, North Carolina, New Jersey, Texas, Louisiana, Florida and Mexico.

He has been a guest lecturer at

• UC Davis;
• UC Santa Barbara;
• Sonoma State University;
• California State University, Fresno;
• Santa Rosa Junior College;
• Fresno City College;
• The Institute of Agribusiness at Santa Clara University;
• The Wine Industry Financial Symposium,
• The Vineyard Economics Seminar in Napa;
• The University of Zacatecas in Mexico;
• The California Agribusiness Conference.

Mr. Correia has been invited to speak before meetings of:

• Land Trust Alliance,
• American Bankers Association,
• American Bar Association,
• American Society of Farm Managers and Rural Appraisers (ASFMRA),
• Appraisal Institute,
• American Society of Appraisers,
• California Society of Certified Public Accountants,
• International Association of Assessing Officers (IAAO)
• Columbia River, California and Arizona Chapters of the ASFMRA,
• San Joaquin Valley Ag Lenders Society,
• the San Francisco Bay, Southern California, and San Joaquin Valley Chapters of the Appraisal Institute,
• San Joaquin Valley Chapter of the International Right of Way Association,
• Rotary and Lions Clubs,
• Society of Real Estate Appraisers, and
• The Central Region Assessor's Association.

In addition, Mr. Correia is a Contributing Editor with Wine Business Monthly magazine, and has appeared on local and national television and radio regarding Agricultural Property Values, and is frequently interviewed and quoted by newspapers and other print media, including the San Francisco Chronicle, the Los Angeles Times, Time magazine, Napa Valley Register, St Helena Star, Santa Rosa Press Democrat, Wines and Vines, San Luis Obispo Tribune, the Fresno Bee, Western Farm Press, and Ag Alert.