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Advanced Sales Comparison & Cost Approaches

    Date: March 11 - 17, 2010   Location: Chicago, IL
 
  Course    
Category  General [Gen]  
Level  II  
Attendance Hours  36.0  
Exam Hours  4.0  
Current Price  $ 450.00 Designated
$ 550.00 Member
$ 675.00 Regular
 
  Instructor    
John H. Urubek, MAI  
Instructor Pending  
    
 
  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 Fulfold  
Email  kate@ccai.org  
Phone  (312) 616-9405  
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
    • $50.00 cancellation fee.
    • Less than 2 days prior to program start date, forfeit of payment.
    		       Program Material Policy

    Beginning 4 weeks before the offering start date, program material will be shipped directly to the student. If this material has been shipped and you request a registration cancellation, a call tag will be issued for the return of this material. A registration refund will not be issued until the material has been returned.
    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 class but you will not receive credit. Registration begins at 8:00 am for every course. Each course begins promptly at 8:30 am each day.

    Program Material Policy
    Beginning four weeks before the course start date, program materials will be shipped to the student. If you do not receive your materials within five business days of the start date, PLEASE NOTIFY the Chicago Chapter office immediately. All students must bring their materials with them to class; there will be NO EXTRA’s available.

    Cancellation Policy: Please read carefully.
    The Chicago Chapter charges a $50 cancellation fee. If you cancel less than 48 hours before the start of the course or seminar you will receive no refund. All cancellations must be submitted in writing to receive a refund. If the materials have been shipped to you and you cancel and request a refund, a call tag will be sent to you from UPS for the return of the materials. You will be issued your refund when your materials are received at the warehouse. The Chicago Chapter reserves the right to cancel, limit or reschedule the programs and to change faculty assignments at any time. Prospective students should confirm their registrations before making any non-refundable airline reservations.



    Program materials will be shipped directly to the student. If you do not receive your materials within 5 days before the offering start date, please call the sponsor to inform them.
     
      Additional Information    
    Class Schedule:
    Registration:
    Thursday, March 11 8:00a-8:30a
    Class begins at 8:30 each morning/ends at 5:00
    The exam is written on Wednesday, March 17 8:30-12:30

    Hotel Information can be found on the website at www.ccai.org under the education link, pull down menu,
    “where can I stay”.

    Please contact Kate kate@ccai.org 312.335.9405 or LA la@ccai.org 312.616.9406
    if you have any questions or need assistance.

    CCAI office: 312.616.9400 FX: 312.616.9404
     

     
     
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