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Advanced Market Analysis and Highest & Best Use

CALL   Date: November 3 - 7, 2014   Location: Chicago, IL
 
  Course  
Category  General [Gen]  
Level  II  
Attendance Hours  32.0  
Exam Hours  3.0  
Current Price  $ 745.00 AI Price  
$ 1,065.00 Full Price  
 
  Instructor  
William D. Otto Spence, MAI  
    
 
  Location  
Name  Chicago Chapter  
Rep  LA  
Address  205 W Wacker Dr #202  
City  Chicago  
State  IL  
Zip  60606  
Phone  (312) 616-9400  
 
Click Here to check state approvals
    
 
  Sponsor / Contact  
Chapter  Chicago
Website  www.ccai.org  
Contact Name  L.A. Anderson  
Email  LA@ccai.org  
Phone  (312) 616-9406  
Fax  (312) 616-9404  
 
  Description  

The 35-hour Advanced Market Analysis and Highest & Best Use course implements a blended learning approach, which includes a pre-class, two-hour onlinesession combined with 30 hours of traditional classroom education and wraps up with a three-hour exam on the fifth morning.

Please note Designated Members and Candidates for Designation will receive the discounted AI Price for Advanced Education courses: Advanced Income Capitalization, Advanced Market Analysis and Highest and Best Use, Advanced Concepts and Case Studies, and Quantitative Analysis. All others will receive the Full Price.
For more information on how to become a Candidate for Designation, click here.

Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; course equivalencies. Click here.

COURSE DESCRIPTION

Combining the analytical processes of market analysis, highest and best use, and income valuation, this course is intended for those who have taken and passed the General Appraiser Market Analysis and Highest & Best Use course and have a thorough understanding of the mathematical and financial principles necessary to perform appraisals of income-producing properties.

Building on the Level B marketability studies that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability studies using fundamental demand analysis and study several real estate markets in a fictional city.

The economic base of the community is explored, and it is used as the subject and example for both physical and economic forces that affect all communities and consequently all real estate.

The remainder of the course consists of four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that are intended to demonstrate both the power of fundamental market analysis and its application to highest and best use decisions.

Note. Because this course builds on concepts learned in the Appraisal Institute’s General Market Analysis & Highest and Best Use course, it is HIGHLY recommended that you take the Appraisal Institute’s General Market Analysis & Highest and Best Use course before you take this advanced course.

By taking both courses, you should gain a solid knowledge base of market analysis and highest and best use concepts. If you elect only to take this course, be advised that you’ll need to factor in additional study time to learn the general concepts presented in the previous course.

Required Text
Market Analysis for Real Estate: Concepts and Applications in Valuation Highest and Best Use



Downloads
Table of Contents and Overview (PDF)
Course Schedule (PDF)
 
  Audience  
Candidates for Designation working on MAI designations, MAIs who want to further market analysis/highest & best use knowledge and skill base
 
  Equipment  
• Laptops (recommend external mouse)
• Spreadsheet program: Excel 2007 (participants can use other spreadsheet programs, but those programs won’t be supported in class; demonstrations will be done in Excel)
• Calculators. 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 basic Excel and calculator operation when the course begins. Answers to problems in course material are shown using Excel and the HP-12C. Do not come to class expecting to be taught how to use Excel or 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 HP12C Financial Calculator.
 
  Prerequisites  
Required:

Advanced Education Diagnostic Test
Advanced Income Capitalization (old 510 or new version)
Basic Appraisal Principles
Basic Appraisal Procedures
15-hour National USPAP
General Appraiser Market Analysis and Highest & Best Use
General Appraiser Income Approach/ Part 1
General Appraiser Income Approach/Part 2
General Appraiser Site Valuation and Cost Approach
General Appraiser Sales Comparison Approach
General Appraiser Report Writing & Case Studies
Real Estate Finance, Statistics, and Valuation Modeling

Participants 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.
 
  For Further Reading  
  The Dictionary of Real Estate Appraisal, 5th ed.  
  The Appraisal of Real Estate, 14th ed.  
  Shopping Center Appraisal and Analysis   
  Valuation of Apartment Properties  
 
  Disclaimer  
Cancellation Policy
  • $150.00 cancellation fee.
  • Less than 7 days prior to program start date, forfeit of payment.
      Program Material Policy

Beginning 4 weeks before the offering start date, program material will be shipped directly to the student. If this material has been shipped and you request a registration cancellation, you will automatically be charged a $25.00 fee and you may keep the material. Once the fee is charged, your refund will be processed. Material returns are no longer accepted. Contact the offering sponsor for more information.
  • Cancel Offering, $25.00 material fee.
ADVANCED EDUCATON - VERY IMPORTANT STUDENTS PLEASE READ CAREFULLY! To allow enough time for you to complete the required online session, course registration will be cut off on the 14th day before the classroom session begins. Please see additional deadlines below and the costs for cancellation. IMPORTANT DEADLINES FOR AE Official FIRST day of course - day online session begins 28 days BEFORE the classroom session begins. Last day to register for & submit the Diagnostic Test*** 21 days BEFORE the classroom session begins. Last day to receive a "PASS" confirmation on Diagnostic Test 14 days BEFORE the classroom session begins. Last day to register for the course 14 days BEFORE the classroom session begins. Last day to cancel registration with full refund 15 days BEFORE the classroom session begins. Last day to cancel registration with $150 cancellation fee 14 days BEFORE the classroom session begins. Last day to cancel registration with ZERO -0- refund 7 business days or less BEFORE the classroom session begins. Last day to complete online session 7 days BEFORE the classroom session begins. PLEASE NOTE: there will be NO exceptions to these rules above for registration or cancelling ALL ADVANCED EDUCATION COURSES!!!!!!!!!!! The Chicago Chapter enforces the attendance requirements as mandated by the State of Illinois and the AQB. There is a 100% attendance policy, if you are late, you will not receive credit. If you are late the first day of the course, you may stay in class but you will not receive credit. Registration begins at 8:00 am for every course. Each course begins promptly at 8:30 am each day. Program Material Policy Beginning four weeks before the course start date, program materials will be shipped to the student. Standard ground shipping is INCLUDED in the tuition price. HOWEVER, ADDITIONAL CHARGES are added for express shipping. These charges will be reflected in late registration. YOU MUST MEET THE DEADLINES INDICATED ABOVE TO ATTEND THIS COURSE!

HOTEL INFO: We have a corporate rate at the Holiday Inn Mart Plaza, right across the street from the chapter office. The Holiday Inn Mart Plaza that the hotel room rate for November 2-4 is $299/ night. In order to receive this rate, please make your reservation by October 13.
Call Tony at 312.529.1127 and tell him you’re a student with the Chicago Chapter and he will make your reservation for you.
CHICAGO IS A VERY BUSY CITY ….YOU NEED TO MAKE YOUR HOTEL RESERVATIONS EARLY TO GET OUR CORPORATE RATE OR EVEN GET A HOTEL ROOM BECAUSE THE HOTELS FILL UP QUICKLY WITH CONVENTIONS.

Program materials will be shipped directly to the student. If you do not receive your materials within 5 days before the offering start date, please call the sponsor to inform them.
 
  Additional Information  
Class Schedule:
Registration:
November 3, 2014 8:00a-8:30a
Class: 8:30 -4:30
Nov 3-6
Exam Nov 7




Please contact LA LA@ccai.org 312.616.9400
if you have any questions or need assistance.


 

 
















 
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