WESTERN RESERVE LAND ECONOMICS is a boutique Real Estate Appraisal and Consulting firm based in Northeast Ohio. The firm has specialized experience in the appraisal of commercial and investment property, business-owned real estate, and special-use properties located throughout the United States. WRLE was founded by Werner T. (Ted) Kostendt, MAI in 1995.
Our Mission
Our mission is to provide our clients with diligent and thoughtful solutions to their valuation and other real estate investment problems. We provide a benchmark for prudent real estate decision-making and a template of reasoning with which our clients can leverage their own expertise. Our broader professional mission to society and our clients is to assist in the efficient and equitable allocation of capital within the marketplace.
Our Philosophy
Every property is unique. WRLE approaches each assignment as a unique and special valuation problem. Your valuation issue deserves nothing less than individualized, careful, reflective, and experienced consideration. As a smaller firm, we can assure you that your sensitive appraisal problems will not be dumped off on an inexperienced staff member.
Our Standards
Our appraisals conform to the Uniform Standards of Appraisal Practice as promulgated by the Appraisal Foundation. Our professionals adhere to the stricter standards of the Appraisal Institute with respect to the valuation process and documentation. We strive to answer questions in our reports before they arise, fostering a more efficient review process. When questions do arise, we pride ourselves in being responsive to our clients questions before and after the appraisal is completed.
Our Clients
Our clients have included some of the largest investors, lending institutions, and law firms in the United States. They have trusted us with some of their highest profile and most difficult valuation problems. For example, WRLE has appraised the largest apartment complex in the Greater Cleveland and the largest new land development undertaken in the last 15 years in the New York Metropolitan Area.
Our Offices
WESTERN RESERVE LAND ECONOMICS is headquartered in the Cleveland area and maintains a presence in the New York Metropolitan area through its office in Westwood, New Jersey.