Ryan M. Hlubb

Ryan M. Hlubb

MAI SRA

CEO & Managing Partner


Specialties

Going Concern Appraisals (Hotel, Golf Courses, Hospitals,

  • Restaurants), Complex, Land/Subdivision Valuation
  • Multi-Family Apartments, Mixed Use and Urban Developments, Office,
  • Industrial, Retail, Specialty Residential

License — Certified General Appraiser

PennsylvaniaGA003546
Maryland04-11723
District of ColumbiaGA11482
Virginia4001-017295
New Jersey42RG0026900
New York46000053768
North CarolinaA9328
South Carolina8426
DelawareX1-0010804

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Ryan M. Hlubb MAI, SRA

CEO & Managing Partner

Ryan M. Hlubb, MAI, SRA, is the founding partner of Principle Real Estate Companies, a multi-disciplinary professional services firm specializing in valuation services while also offering brokerage, capital, and tax consulting. Ryan’s expertise lies in tax assessment appeals, complex litigation, going concern properties, regional bank assignments, and mentoring the next generation of appraisers within his practice.

Ryan has been a prominent leader within the Appraisal Institute and his local community. Over the years, Ryan has held numerous roles within the organization, including serving twice on the Admissions Designations and Qualifications Committee, as Regional VI Chair, and as a Director on the National Board. Locally, he has held almost every leadership position within the Maryland Chapter.

In 2024, Ryan was honored with the Bert L. Thornton President’s Award in recognition of his significant contributions to the industry and his commitment to excellence. This award reflects his leadership, integrity, and dedication, which are the hallmarks of the Appraisal Institute.

With over 25 years of experience in real estate, Ryan has made a lasting impact through his expertise in complex assignments and his ability to solve unique appraisal challenges. His leadership and forward-thinking approach continue to shape the future of the appraisal profession.

Professional Experience
Managing PartnerPrinciple Real Estate Companies, LLC Principle Valuation Group Principle Realty Group Principle Tax Consultants Principle Capital Advisors2015 – Present
PartnerHlubb & Goldstein Valuation Group, LLC2009 – 2015
Senior AssociateHlubb & Associates2002 – 2009
Education
University of Maryland Baltimore CountyBaltimore, MD
Loyola “Blakefield” High SchoolTowson, MD
Affiliations
Realtor MemberNational Association of Realtors
MemberInstitute for Professionals in Taxation (IPT)
MemberInternational Association of Assessing Officers (IAAO)
Noteable Recognitions
Appraisal InstituteBert L. Thorton Presidents Award (2024)
University of BaltimoreMerrick School of Business – RE Advisory Board
Baltimore Sun NewspaperFeatured in “A question of value”
Appraisal InstituteVolunteer of Distinction
Valuation MagazineFeatured in “The Next Generation of Appraisal Leaders”
Testimony
CourtsU.S. Bankruptcy Court (Various), Pennsylvania Court of Common  Pleas (Allegheny, Berks, Bucks, Butler, Chester, Cumberland,  Dauphin, Delaware, Lancaster, Lebanon, Montgomery, Philadelphia, Warren, Westmoreland, York)
DepositionsVarious Depositions for Pre-Trial & Arbitration Proceedings
Pennsylvania
Tax Assessment Boards
(At least 65 of the 67 Counties)
Maryland
Tax Assessment Boards
Baltimore City, Baltimore County, Anne Arundel County, Howard County, Harford County, Montgomery County, Prince Georges County, Queen Anne’s County
Virginia
Tax Assessment Boards
Arlington, Fairfax County, Loudon County, City of Norfolk
District of Columbia
Tax Assessment Boards
Notable Service (Appraisal Institute)
NationalAdmissions Designations & Qualifications Committee Chair2023-Present
NationalPublic Relations Project Team2024-Present
NationalAdmissions Designations & Qualifications Committee2022
NationalFind an Appraiser Project Team2020-2021
NationalBoard of Directors2015-2018
NationalStrategic Planning Committee Chair2017
NationalStrategic Planning Committee2015-2016
Region VI3rd Director2014
Region VIRegional Finance Officer2014-2015
MarylandPresident2009-2010
MarylandVice President2008
MarylandAssociates Guidance Chair2008 & 2013
MarylandAlternative Region Representative2007 & 2013
MarylandBoard Director2005-2007
NationalAdmissions and Qualifications Committee2009 – 2010
NationalLeadership Development & Advisory Council2005, 2006, 2007
Courses
Appraisal Principles14 Hour USPAP
Appraisal Procedures7 Hour National USPAP Update (Bi-Annual Rotation)
Basic Income Capitalization
General ApplicationsReal Estate Practicum
Advance Income CapitalizationMarket Analysis & The Site to do Business Subdivision Valuation
Advanced Residential Applications & Case StudiesGeneral Demonstration Report Writing
Residential Market Analysis & Highest & Best UseProfessional’s Guide to the Uniform Residential Report Business Practices and Ethics
Advanced ApplicationsHotel Appraising: New Techniques
Advanced Residential Report Writing Parts I & IIAppraising Manufactured Housing
Advanced Sales and Cost ApproachAppraising the Tough Ones
Advanced Highest and Best Use and Market AnalysisDistressed Commercial Real Estate
Advanced Report Writing & Valuation AnalysisREO Appraisal: Appraisal of Residential Foreclosures
Marketability Study: Advanced Considerations & ApplicationsSkip Seward Commercial Market Update – Annually
Analyzing Operating ExpensesValuation Bias & Fair Housing
Other Education
Analyzing Retail Shopping CentersEssential Elements of Disclosure & Disclaimers
Land and Site ValuationVarious State Mandated Law for Appraisers
Historic Preservation (Façade) Easements: Appraisal
Techniques and Valuation Issues
Wisely Appraising Intangibles
Various IRS Summits – Valuation Focused Seminars by
Appraisal Institute
Examining Property Rights and Implications in Valuation
Effect of PA Economic/Demographic Trends on HBU Analysis ConsiderationBeyond The Numbers: Market Analysis Tips and Trends
Liability Issues for Appraisers Performing Litigation and Other Non-Lending WorkIntroduction to Green Buildings: Principles & Concepts
Appraising Distressed Commercial Real Estate: Here We Go AgainMarketability Studies: Advanced Considerations & Applications