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Advanced Sales Comparison & Cost Approaches

EMAIL   Date: November 30 - December 5, 2009   Location: Columbus, OH
 
  Course    
Category  General [Gen]  
Level  II  
Attendance Hours  36.0  
Exam Hours  4.0  
Current Price  $ 750.00 *
* includes late fee
Late Fee  $ 100.00
 
  Instructor    
John H. Urubek, MAI  
James D. Vernor, PhD, MAI  
    
 
  Location    
Name  The Ohio State University Fawcett Center for Tomorrow  
Address  2400 Olentangy River Road  
City  Columbus  
State  OH  
Zip  43210  
Phone  (614) 292-3902  
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Chapter  Cardinal Ohio
Website  www.cardohio.org  
Contact Name  Amy Cramer  
Email  info@aiohio.org  
Phone  (216) 520-0560  
Fax  (216) 274-9289  
 
  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
    • Up To 15 days prior to program start date, refund in full.
    • 7 - 14 days prior to program start date, $50.00 cancellation fee.
    • Less than 7 days prior to program start date, forfeit of payment.
    		   Transfer Policy
    • Up To 15 days prior to program start date, no transfer fee.
    • 7 - 14 days prior to program start date, $25.00 transfer fee.
    • Less than 7 days prior to program start date, no transfer allowed.
    		    
    The Cardinal Ohio Chapter reserves the right to change/cancel any class due to extraneous circumstances. If you have a disability and require special accommodations, notify the Chapter in writing at least two (2) weeks in advance and arrangements will be made.

    Program materials will be picked up at the site.
     
      Additional Information    
    Class will be held at The Ohio State University Fawcett Center, 2400 Olentangy River Road, Columbus OH 43210

    Hotel recommended is the Fairfield Inn & Suites, 3031 Olentangy River Road, Columbus OH 43202 - 614-267-1111.

    Class registration on November 30 is 8:00 a.m. Class begins on all other days at 8:30 a.m.
     

     
     
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    conducts its activities in accordance with federal, state and local laws.
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