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General Appraiser Site Valuation and Cost Approach

    Online Education
 
  Course    
Category  General [Gen]  
Attendance Hours  28.0  
Exam Hours  2.0  
Current Price  $ 455.00 Member
$ 555.00 Regular
 
  Instructor    
Arlen C. Mills, MAI, SRA  
    
 
  Location    
Appraisal Institute - Online Education
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Contact Name  John Witham  
  Appraisal Institute  
Email  tbe@appraisalinstitute.org  
Phone  (312) 335-4207  
 
  Description    
Overview:
General Appraiser Site Valuation and Cost Approach is a practical, online course designed and presented in a manner that addresses the actual employment and application of appraisal techniques learned in previous courses. It concerns two basic aspects of real estate appraisal: land/site valuation and the development of the cost approach. Special attention is given to the appraisal of various types of sites and the various means of measuring accrued depreciation. Another major course component is analysis that develops skills in developing a current cost estimate using market extraction, interview techniques, and information provided by professional cost data sources.

Two in-depth case studies are presented in this course. Summerville Case Study features the valuation of an industrial property and demonstrates the fundamentals of site valuation, estimation of current improvement cost, and various methods of recognizing and measuring accrued depreciation. It is presented in four separate modules, which are not contiguous to each other, but instead follow the order of the text material. The first modules relate to construction cost and depreciation projections, and the later modules pertain to estimating the site value and the development of a complete Cost Approach analysis and final value conclusion.

The second case study called Oakvale Terrace Case Study is a short one, featuring valuation of residential subject site using sales comparison approach. There are a total of nine mandatory student exercises based on the both case studies. Through these exercises you will have a chance to demonstrate your knowledge about the basic concepts. Please know that these exercises are intense and require a fair amount of time.

Students have 45 days from the session start date to complete the course material for this program. This course is completed at the student's own pace.




Do I have to take the 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.



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.
  • Learn to apply the breakdown method for estimating depreciation techniques including physical deterioration, functional obsolescence, and external obsolescence.
  • Discuss cost approach summation including a reconciliation of depreciation estimates.
  • Understand basic site valuation principles, the concept of market analysis, and the development of a highest and best use conclusion.
 
  Audience    
This class has been developed for appraisers seeking general certification with experience and understanding of the fundamental concepts of appraising. This course was designed to fulfill part of the current and new AQB content requirement.
 
  Equipment    
You can use any of the following calculators: HP 10b, HP 10bii, HP 12c, HP 17bii, HP 19bii calculators or Texas Instruments (TI) BA II PLUS. While any of the above mentioned calculators may be used, only the HP-12C is supported by the instructor and administrative staff, and only HP-12C keystrokes are provided in the course materials.
 
  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: full tuition refund

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

   Transfer Policy
If you wish to transfer a registration from one seminar to another, the following transfer policy applies based on the amount of material completed in a seminar:

• Less than 25% of original seminar completed: transfer allowed

• More than 25% of original seminar completed: no transfer allowed

If you transfer from a lower priced seminar to a higher priced seminar, you will be responsible for paying the difference using the automated online system. If you transfer from a higher priced seminar to a lower priced seminar, an appropriate tuition refund will be issued.

    
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    
For online education, you will receive an email from the instructor on the morning of the session start date that will remind you of your login information and the website address to begin your program.

To start immediately if you registered for an online education 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 tbe@appraisalinstitute.org.


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