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Residential Site Valuation and Cost Approach

    Online Education
 
  Course  
Category  Residential [Res]  
Attendance Hours  14.0  
Exam Hours  1.0  
Current Price  $ 280.00 AI Price  
$ 330.00 Full Price  
 
  Instructor  
Arlen C. Mills, MAI, SRA  
    
 
  Location  
Appraisal Institute - Online Education
 
Click Here to check state approvals
    
 
  Sponsor / Contact  
  Appraisal Institute  
Email  OL-Help@appraisalinstitute.org  
Phone  (877) 674-2447  
 
  Description  
Designed for participants with introductory experience and understanding of fundamental concepts of appraising, it focuses on the valuation of vacant land parcels and the development of the cost approach. Develop your skills by creating a current cost estimate using market extraction, interview techniques, and information provided by professional cost data sources.

An in-depth case study takes you from the origin of the appraisal assignment to a final value estimate using various cost approach applications. The case study is presented in three modules. It features the valuation of a two-unit residential rental property and demonstrates the fundamentals of site valuation, estimation of current improvement cost, and various methods of recognizing and measuring accrued depreciation. There are seven mandatory student exercises based on the case study, presented throughout this course. Through these exercises you will have a chance to demonstrate you knowledge about the basic concepts.

Do I have to take the 1-hour course exam?

You are required to complete and pass a proctored offline exam if:

    · you are taking this class to meet state qualifying education requirements · you are taking this class to meet the qualifying education requirements for an Appraisal Institute designation

You may be required to complete and pass a proctored offline exam if:

    · you are taking this class to meet state continuing education requirements.  Most states do not require the exam for CE credit, but please confirm this with your state licensing board.

You are not required to complete and pass a proctored offline exam if:

    · if you are taking this class to meet the continuing education requirements of an Appraisal Institute designation
You will have 90 days from the time that you complete the course to take the proctored exam. Testing center locations in your area can be found by clicking on this link: www.pearsonvue.com/ai.

Syllabus:
Module 1: Introduction to the Cost Approach
Module 2: Cost Estimating Methods
Module 3: Depreciation Concepts
Module 4: Breakdown Method of Depreciation
Module 5: Practice Problems in Estimating Depreciation
Module 6: Introduction to Campus City Case Study, Cost and Depreciation
Module 7: Overview of Site Valuation and Campus City Case Study
Module 8: Site Valuation Procedures - Part 1
Module 9: Site Valuation Procedures - Part 2
Module 10: Campus City Case Study - Part 3
Module 11: Extraction and Allocation Methods of Site Valuation
Module 12: Cost Approach Review and Reconciliation and Exam Review


Learning Objectives:
    · Study in detail the development of a complete cost approach. The step-by-step process of estimating current construction cost is the focal point. ·  Learn about Data sources and the comparative-unit method of cost calculation are explored in detail, and the specifics of the age-life and market extraction methods of estimating depreciation are discussed. · Apply the breakdown method for estimating depreciation techniques, including physical deterioration, functional obsolescence, and external obsolescence. · Discuss cost approach summation, including reconciliation of depreciation estimates. · Learn residential site valuation principles, the concept of market analysis, and the development of a highest and best use conclusion. · Study the elements of comparison and the units of comparison as they are applied in the sales comparison approach for estimating site value. · Understand the extraction and allocation methods of site valuation and discuss reconciliation of the value indications to a final opinion of site value.

AI CE Credit for Designated members, Candidates for Designation and Practicing Affiliates

    · Attend Only = 70 points · Attend and Pass Exam = 140 points · Pass Exam Only = 125 points
 
  Audience  
This course is designed for individuals with introductory experience and an understanding of the fundamental concepts of appraising who wish to become a licensed and/or certified appraiser. It translates theory into practice through extensive and varied activities. By applying concepts to real-world situations, students can discover new ways to use their knowledge and analytical skills.
 
  Equipment  
A financial calculator is required for this class. You can take a financial calculator into the exam provided you clear the memory banks before hand. The allowed calculators are: HP 10b, HP 10bii, HP 12c, HP 17bii, HP 19bii calculators or Texas Instruments (TI) BA II PLUS. Other calculators are prohibited in the exam.
 
  Prerequisites  
Successful completion of Basic Appraisal Principles and Basic Appraisal Procedures is required. Completion of Residential Market Analysis and Highest and Best Use is recommended.

 
  For Further Reading  
  The Appraisal of Real Estate, 14th ed.  
  The Dictionary of Real Estate Appraisal, 5th ed.  
 
  Disclaimer  
Cancellation Policy
If you are unable to complete a seminar once it begins, you may cancel out of the seminar before the official seminar end date. Once you cancel out of a seminar, however, you must start the seminar over at the beginning in any later enrollments. You cannot be placed into the seminar where you left off before canceling.

The following tuition refund policy is in effect for canceled online seminars based on the amount of material completed in a seminar:

 Less than 25% of the seminar completed: $60 cancellation fee

 More than 25% of the seminar completed: no tuition refund

       
I agree to the terms and policies set forth under the Appraisal Institute Online Education Policy. I also certify that I am the person identified above under Personal Data and that I will personally complete each assigned module of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a member of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, that I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Appraisal Institute''s Code of Professional Ethics and Standard of Professional Appraisal Practice, and that such peer review proceeding may result in termination of my Appraisal Institute membership.
 
  Additional Information  
ONLINE CLASS ACCESS
Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. You will automatically be taken to the "My Appraisal Institute" page. Near the middle of that page your course will be listed with a link next to it that says "Go To Class".

If you have any questions, please email us at OL-Help@appraisalinstitute.org.


  http://www.appraisalinstitute.org/education/online_education.aspx  

 

Promotional Package
Save $ 205.00 AI Price / 235.00 Full Price   Package – Online Education 75-hour Licensed Residential Appraiser (Upgrade) $ 999.00 AI Price  
$ 1,199.00 Full Price  

 
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