Education
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Some AI educational programs may not be approved in every state.
Students should check state approvals prior to registering for any Appraisal Institute program.
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Valuing subdivisions offer appraisers unique challenges. This new seminar provides a complete look at subdivision valuation methodology as it relates to valuing improved subdivisions. Appraisers who provide opinions of value for proposed subdivisions or a group of existing lots of units will find this seminar a valuable source of reference and ideas. Students will come away with techniques appraisers need to value a group of lots or units that must be marketed over a period of time. Comprehensive examples are provided to explain how line item profit and discount rate selection are handled in conjunction with discounted cash flow analysis. Ample time is given to typical problems encountered by appraisers in specific valuation scenarios.
At this seminar, participants should learn how to:
• Recognize elements of a subdivision and when to apply subdivision analysis to reflect a bulk sale value.
• Differentiate between a “bulk “ sale for a group of lots and applying subdivision analysis to reflect vacant land value.
• Understand how to apply subdivision valuation methodology to solve for a wide variety of valuation scenarios at different points along the time line.
• Recognize the strengths and weaknesses of the three approaches to value as they relate to subdivision analysis.
• Analyze risk and when it occurs in the three general development phases.
What Students Are Saying
"I attended and got a lot out of you seminar in New Hampshire last week. I have been appraising for 21 years, was once an SRA, am a Certified General, who took a short break to complete my degree. Your seminar was concise, well thought out, to the point, and included all of the information that will make it very easy for new people to hopefully learn and developed credible reports. I completed a 15 lot project a few weeks ago and it was great to see many of the issues that I dealt with in your presentation. I was lucky enough to find three bulk sales with-in a year of my appraisal date that supported a higher value then my income approach."
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Program Overview
• Table of Contents and Overview (PDF)
• Schedule (PDF)
Type
General
Ordering Information
To order books and other materials go to
our store
Tuition
Please contact the sponsoring chapter for information on fees applicable to chapter programs.
Required
A financial calculator is required. The accepted model used in the course is the HP-12C.
Students should have general working familiarity with spreadsheet applications dealing with DCF analysis and present value concepts. This is not an introductory seminar in subdivision valuation and /or DCF techniques.
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AI CE Credit for Designated Members, Candidates for Designation, and Practicing Affiliates
• Attend Only = 75 points
Level
Intermediate
Click Here for State Approvals
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Overview
Valuing subdivisions offers general appraisers unique challenges. This new seminar provides a complete look at subdivision valuation methodology as it relates to valuing improved subdivisions. Appraisers who provide opinions of value for proposed subdivisions or a group of existing lots of units will find this seminar a valuable source of reference and ideas. Students will come away with advanced techniques appraisers need to value a group of lots or units that must be marketed over a period of time. Comprehensive examples are provided to explain how line item profit and discount rate selection are handled in conjunction with discounted cash flow analysis. Ample coverage is given to typical problems encountered by appraisers in specific valuation scenarios.
Advanced examples using the income approach are provided explaining how line item profit and discount rate selection are handled in conjunction with discounted cash flow analysis. This sets the stage for more detailed coverage of income, sales comparison and cost approach applications in subdivision valuation.
Seminar Coverage
This seminar provides an introduction to valuation methodology applicable to "improved" subdivisions" or groups of lots or units. It excludes mega projects and large mixed use planned developments.
This seminar provides coverage and examples for:
• Group of existing lots
• Existing and proposed projects
• Phased projects and remaining land for future phases
• Valuation of typical suburban subdivisions
• Seminar examples use vacant lots for simplicity
• Explanation and examples for all three approaches to value
• Marketability analysis using the six step process
• Inferred method of market analysis (Market study levels A & B)
Syllabus
Module 1: Characteristics and Analysis of Subdivisions
Module 2: Time Line Concepts and USPAP Considerations
Module 3: Time Line Concepts and Value Reference Points
Module 4: Basic Valuation Concepts -- Income Approach
Module 5: Basic Valuation Concepts -- Cost Approach
Module 6: Applying the Income Approach, Part 1
Module 7: Applying the Income Approach, Part 2
Module 8: Applying the Cost Approach, Part 1
Module 9: Applying the Cost Approach, Part 2
Module 10: Applying the Sales Comparison Approach
Learning Objectives
Upon completion of the seminar, participants will be better able to:
• Employ the correct terminology unique to subdivision analysis.
• Understand the significance of USPAP provisions applicable to subdivision analysis and how to perform competently.
• Recognize the elements of a subdivision and when to apply subdivision analysis to reflect a bulk sale value.
• Differentiate between a bulk sale for a group of lots and applying subdivision analysis to reflect vacant land value.
• Apply subdivision valuation methodology to solve for a wide variety of valuation scenarios at different points along the time line.
• Recognize the strengths and weaknesses of the three approaches to value as they relate to subdivision analysis.
• Explain how the selection of line item profit influences the selection of the discount rate.
AI CE Credit for Designated members, Candidates for Designation and Practicing Affiliates
• Attend Only = 75 points
• Attend and Pass Exam = 75 points
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Category
General [Gen]
Prerequisites
General Income Approach, Part II (or equivalent knowledge/experience) Audience
This seminar is intended for general appraisers who have taken General Income Approach, Part II or have equivalent knowledge/experience.
Required Technology
None Specified.
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Tuition
AI Price:
$ 114.00
Full Price:
$ 137.00
Click Here for State Approvals
Instructor
Don M. Emerson, MAI, SRA
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Disclaimer
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.
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Additional Information
Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to www.myappraisalinstitute.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".
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Online Class Schedule
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02/15/2015 - 03/17/2015
Instructor: Emerson, Don M., MAI, SRA
03/01/2015 - 03/31/2015
Instructor: Emerson, Don M., MAI, SRA
03/15/2015 - 04/14/2015
Instructor: Emerson, Don M., MAI, SRA
04/01/2015 - 05/01/2015
Instructor: Emerson, Don M., MAI, SRA
04/15/2015 - 05/15/2015
Instructor: Emerson, Don M., MAI, SRA
05/01/2015 - 05/31/2015
Instructor: Emerson, Don M., MAI, SRA
05/15/2015 - 06/14/2015
Instructor: Emerson, Don M., MAI, SRA
06/01/2015 - 07/01/2015
Instructor: Emerson, Don M., MAI, SRA
06/15/2015 - 07/15/2015
Instructor: Emerson, Don M., MAI, SRA
07/01/2015 - 07/31/2015
Instructor: Emerson, Don M., MAI, SRA
07/15/2015 - 08/14/2015
Instructor: Emerson, Don M., MAI, SRA
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Not available synchronous.
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