At Norris Realty Advisors we have been appraising Charter Schools and private schools since 2005, and have now appraised more than 70 charter schools and 11 private schools. In the early days, these charter schools were generally located in South Los Angeles and in the Los Angeles Unified School District. Now we are appraising more schools in the San Fernando Valley and in the Bay Area in both Alameda and Santa Clara Counties. Most of the charter schools start either on a district campus or in an old church school. With the rise of charter schools, many private schools are losing students as students move to the newer and less costly competitive charters. In addition, as charter schools evolve and their parent companies have more schools such as Green Dot (25 schools), Alliance College-Ready Charter Schools (28), KIPP (13 in California), Aspire (37 in California) and Rocketship (15 in the Bay Area), they are moving from traditional mortgage financing to bond financing. From our perspective, it is interesting to see the rise of charter schools and the growth in testing scores and graduation rates that these new additions to the market have brought with them.