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Advanced Sales Comparison & Cost Approaches

CALL   Date: November 16 - 21, 2009   Location: Chicago, IL
 
  Course    
Category  General [Gen]  
Level  II  
Attendance Hours  36.0  
Exam Hours  4.0  
Current Price  $ 600.00 Designated
$ 650.00 Member
$ 775.00 Regular
 
  Instructor    
Larry T. Wright, MAI, SRA  
    
 
  Location    
Name  Chicago Chapter Education Center (New)  
Address  205 W. Wacker Dr.  
   Suite 202  
City  Chicago  
State  IL  
Zip  60606  
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Chapter  Chicago
Website  www.ccai.org  
Contact Name  Kate Pahl  
Email  kate@ccai.org  
Phone  (312) 616-9408  
Fax  (312) 616-9404  
 
  Description    
This course provides in-depth instruction in the sales comparison and cost approaches. Participants explore ways to identify and measure elements of comparison as well as methods to select and support adjustments including graphing, pairing, sorting, regression analysis, and qualitative analysis. After reviewing the standard methods of calculation, the course explores special applications and common errors in using or misapplications of the approaches.

All components of the cost approach are explored thoroughly, with particular attention paid to feasibility and current cost, including supporting entrepreneurial incentive and calculating lease-up costs. In addition, participants study advanced data confirmation techniques, learn how to make all three approaches consistent in the reconciliation process, and discover traps to avoid.



This course may be used to fulfill the 30-hour Elective topic requirement toward certification in states where approved for QE credit. NOTE: This course is not a substitute for the prerequisite General Appraiser Sales Comparison Approach or General Appraiser Site Valuation & Cost Approach courses.



Note: Required MAI Designation Course


Content


  • Sales comparison approach

    • Elements of comparison
    • Adjustments
    • Land valuation
  • Cost approach

    • Current cost
    • Depreciation


What You Will Gain


At the end of the course, you will be able to:


  • Recognize how the cost approach applies to everyday situations and when it is most applicable
  • Explore categories of depreciation—extraction, breakdown and specialized applications such as nonconforming uses and troubled markets
  • Extract depreciation from the market and apply it to real-world problems
  • Develop more effective sales verification techniques to confirm data
  • Support feasibility conclusions using current cost


Required Texts

  • The Appraisal of Real Estate, 13th ed.

  • Uniform Standards of Professional Appraisal Practice (USPAP), current ed.

  • Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, current ed.


Downloads
  • Table of Contents and Overview [PDF]
  • Course Schedule [PDF]
    •  
      Audience    
    General appraisers with a working knowledge of the three approaches to value
     
      Equipment    
  • HP12C calculator
  • You must be familiar with calculator operation when the course begins. Answers to problems in course material are shown using the HP12C. Do not come to class expecting to be taught how to use a financial calculator.
  • Free Review—Using a Financial Calculator; Symbols and Formulas, Capitalization Selection Tree, and Sample Problems; and Financial Calculator Practice Exercises
  • For additional help with the HP12C calculator, take our online seminar, Using Your HP12C Financial Calculator.
    		•
     
      Prerequisites    
    Successful completion of Basic Appraisal Principles, Basic Appraisal Procedures, General Appraiser Income Approach/ Part 1, General Appraiser Income Approach/ Part 2, General Appraiser Sales Comparison Approach, General Appraiser Site Valuation and Cost Approach, and General Market Analysis and Highest & Best Use or equivalent courses is required.

    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.

    Required
  • Code of Professional Ethics & Standards of Professional Appraisal Practice of the Appraisal Institute, current ed.
  • Uniform Standards of Professional Appraisal Practice, current ed.
  • The Appraisal of Real Estate, 12th ed.
  • A Guide to Appraisal Valuation Modeling
    •  
      For Further Reading    
    •  Advanced Sales Comparison & Cost Approaches  
    •  The Dictionary of Real Estate Appraisal, 4th ed.  
    •  A Guide to Appraisal Valuation Modeling  
     
      Disclaimer    
    Cancellation Policy
    • $100.00 cancellation fee.
    • Less than 2 days prior to program start date, forfeit of payment.
    		        
    If you have received your materials and do not send them back, you will receive no refund.

    ALL cancellations must be submitted in writing to receive a refund.

    The Chicago Chapter reserves the right to change or cancel a class at any time. If you make non-refundable travel arrangements and the Chicago Chapter must change or cancel a course, the Chicago Chapter Appraisal Institute is not responsible for any costs incurred or lost.

    Program materials will be picked up at the site.
     
      Additional Information    
    Class Schedule:
    Registration:
    Monday, November 16, 8:00-8:30a
    Orientation: Monday, November 16, 8:30-9:00a
    Lectures: Monday - Friday
    November 16, 17, 18, 19, 20
    Examination:
    Saturday, November 21, 8:30a - 12:30p

    Credit:
    Appraisal Institute Continuing Education Credit: Full attendance at the course and completion of the examination 40 credit hours. Attendance only: 36 credit hours.

    State of Illinois credit – 36 hours.

    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 the course but you will not receive credit. Registration begins at 8:00 am for every course.

    Hotel Information - Special Chicago Chapter Appraisal Rates:

    1) Homewood Suites by Hilton - Six Blocks from the Appraisal Chapter Office
    Rates vary by the time of year from $99 to $175, Call Sarah Becker 312-644-8094 and ask for the Chicago Chapter Appraisal Institute Rate

    2) Amalfi Hotel - Six Blocks from the Appraisal Chapter Office
    Rates vary by time of year from $119 to $189, Call Amy O'Donnell 312.395.9096

    3) Holiday Inn Mart Plaza - Two Blocks from Appraisal Chapter Office
    Rates vary by time of year from $119 to $159, but are subject to change, call 312-836-5000 and ask for the "Preferred rate" for, Chicago Chapter of the Appraisal Institute

    4) Hotel Allegro - Two Blocks from Appraisal Chapter Office
    Rates vary by time of year from $149 to $189, but are subject to change, call 312-325-7211 between 8 am - 5 pm, Monday - Friday. Please give Corp ID: CCI and Rate Code: CRP14265

    5) Fairfield Inn & Suites - 10 Blocks from the Appraisal Chapter Office
    Rates vary by time of year from $109 to $139, but are subject to change, call Anne Smith 312-596-9056

    6) If you run into any difficulties booking a hotel room, please call Brandon Koenig at 847-808-1818.


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