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Real Estate Finance Statistics and Valuation Modeling Education Schedule (PDF)
Education Catalog (PDF)
Some AI educational programs may not be approved in every state.
Students should check state approvals prior to registering for any Appraisal Institute program.

ClassroomOn-Demand Online EducationLive Online (Synchronous)

Updated to Reflect Today's Economy!

This two-day course provides an introduction to statistics, real estate finance, and modeling with applications to residential and commercial real estate appraisal. On the first day, you will develop an understanding of basic statistics and statistical analysis and learn how those skills can be used in valuation and evaluation practice.

On day two, you will gain an introductory understanding of real estate finance markets, learn about credit conditions and their impact values on appraisal, and calculate and interpret fundamental numbers on loan payments and balances.

Successful completion of the course and exam should satisfy most states’ education requirements in the content area identified as real estate finance, statistics, and valuation modeling. Participants should understand that this course will be a review and will not address more advanced topics.

This course revision includes an update on financial history and the future implications of the burst housing bubble. A discussion on how mortgages impact value also was added, as well as measuring volatility and standard deviations.

Note: Real Estate Finance, Statistics, and Valuation Modeling was designed according to the broad topical guidelines of the Appraisal Qualification Board as part of qualifying (i.e., prelicensing) education for both residential and general certified appraisers.

National Registry of CPE Sponsors

The Appraisal Institute is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 Fourth Avenue North, Nashville, TN, 37219-2417. Web site:

Delivery Method: Group-Live

AICP members may be able to earn Certification Maintenance (CM) credits for this activity. Visit for a list of approved offerings.

Program Overview
• Table of Contents and Overview (PDF)
• Schedule (PDF)

Recommended Text
• A Guide to Appraisal Valuation Modeling
• Practical Applications in Appraisal Valuation Modeling
• An Introduction to Statistics for Appraisers
• The Appraisal of Real Estate, 14th ed.

Ordering Information
To order books and other materials go to
our store

Please contact the sponsoring chapter for information on fees applicable to chapter programs.

• A financial calculator is required. The accepted model used in the course is the HP-12C. Note: Cellular phones, tablets, iPads, and other devices that connect to the Internet are NOT permitted during the exam.
• You must be familiar with calculator operation when the course begins. Answers to problems in course material are shown using the HP-12C. Do not come to class expecting to be taught how to use a financial calculator.
• Free Review: Using a Financial Calculator; Formulas, Symbols, Math Review, and Sample Problems and Financial Calculator Practice Exercises
• For additional help with the HP-12C calculator, take our online seminar, Using Your HP-12C Financial Calculator

AI CE Credit for Designated Members, Candidates for Designation, and Practicing Affiliates
• Attend Only = 70 points (general) or 175 points (residential)
• Attend and Pass = 140 points (general) or 225 points (residential)
• Pass Exam Only = 125 points (general) or 200 (residential)

Basic Appraisal Principles and
Basic Appraisal Procedures or equivalent courses

Students must sign a waiver at the beginning of the course stating that they have the prerequisites. If they do not, they will not hold the Appraisal Institute responsible and will not expect to receive special attention during the course.

Who Should Enroll
• Beginning appraisers
• Real estate professionals
• Users of appraisal services
• Accountants

Click Here for State Approvals

Class Schedule & Locations

04/17/2015 - 04/18/2015
Location: Branchburg, NJ
Click here for location details
Sponsor: Metro New Jersey
Contact: Debra J. Miller, (732) 560-0072
Instructor: Josephs, Patrick A., MAI, AI-GRS & Viggiano, Diane C., MAI

04/20/2015 - 04/21/2015
Location: Chicago, IL
Click here for location details
Sponsor: Chicago
Contact: L.A. Anderson, (312) 616-9406
Instructor: Urubek, John H., MAI

04/23/2015 - 04/24/2015, Save up to $125 - Register by 4/3!
Location: Lafayette, CA
Click here for location details
Sponsor: Northern California
Contact: Lisa M. Estes, (925) 932-7753
Instructor: Molitor-Gennrich, Dawn M., SRA

04/29/2015 - 04/30/2015
Location: St. Paul, MN
Click here for location details
Sponsor: North Star
Contact: Maribelle E. Cushman, (651) 633-0676
Instructor: Vernor, PhD, James D., MAI

05/04/2015 - 05/05/2015
Location: Atlanta, GA
Click here for location details
Sponsor: Atlanta Area
Contact: Suzanne S. Brockway, (770) 803-0024
Instructor: Ellis III, Lamar H., MAI, SRA

05/13/2015 - 05/14/2015
Location: Tampa, FL
Click here for location details
Sponsor: Florida Gulf Coast
Contact: Nancy J. Bachor, (813) 962-4003
Instructor: Lusht PhD, Kenneth M., MAI, SRA

06/18/2015 - 06/19/2015
Location: Burlington, MA
Click here for location details
Sponsor: Massachusetts and Rhode Island
Contact: Lianne C. Andreucci, (781) 397-8922
Instructor: Dowling, Vincent M., MAI, SRA

06/25/2015 - 06/26/2015
Location: Aurora, CO
Click here for location details
Sponsor: Colorado
Contact: Sherry Engleberg, (303) 691-0487
Instructor: McCloud, Harold S., MAI

07/24/2015 - 07/25/2015
Location: Pittsburgh, PA
Click here for location details
Sponsor: Pittsburgh Metropolitan
Contact: Kari Ballenger, (412) 563-1900
Instructor: Smeltzer, Mark V., SRA

08/03/2015 - 08/04/2015
Location: Chicago, IL
Click here for location details
Sponsor: Chicago
Contact: L.A. Anderson, (312) 616-9406
Instructor: Urubek, John H., MAI

09/23/2015 - 09/24/2015
Location: Indianapolis, IN
Click here for location details
Sponsor: Hoosier State
Contact: Shannon O'Keefe, (317) 815-1340
Instructor: Tillema, Nick A., MAI, SRA, AI-GRS

11/02/2015 - 11/03/2015
Location: Columbus, OH
Click here for location details
Sponsor: Ohio
Contact: Nancy Linton-Hall, (336) 297-9511
Instructor: Smeltzer, Mark V., SRA

11/05/2015 - 11/06/2015
Location: San Diego, CA
Click here for location details
Sponsor: San Diego
Contact: Patti L. Kreutzer, (858) 292-7324
Instructor: Wright, Larry T., MAI, SRA, AI-GRS

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