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Income Valuation of Small, Mixed-Use Properties

EMAIL   Date: November 19 - 20, 2009   Location: Woburn, MA
 
  Course    
Category  Residential [Res]  
Level  III  
Attendance Hours  15.0  
Exam Hours  1.0  
Current Price  $ 375.00 Member
$ 425.00 Regular
 
  Instructor    
Edward V. Bowler, MAI, SRA  
    
 
  Location    
Name  Best Western - New Englander  
Address  One Rainin Road  
City  Woburn  
State  MA  
Zip  01801  
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Chapter  Massachusetts
Website  www.ma-appraisalinstitute.org  
Contact Name  Lianne Andreucci  
Email  l.andreucci@comcast.net  
Phone  (781) 397-8922  
Fax  (781) 388-9052  
 
  Description    
This course helps participants acquire the tools needed to appraise simple properties that often present complex valuation issues. Through lectures, in-class problems, and two case studies, participants learn how to derive supportable potential gross income multipliers (PGIMs), effective gross income multipliers (EGIMs), and overall capitalization rates for these properties. The relationship between multipliers and ratios is also explored. This hands-on learning experience will help participants understand what is required to appraise properties in this niche market.


Content:


  • Theory of direct capitalization as it applies to small, mixed-use properties
  • Development of potential and effective gross income estimates
  • Operating expense analysis
  • Development of rates and factors used in direct capitalization
  • Reconciling the findings and various rates and factors used in the income capitalization approach


What You Will Gain:


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


  • Reconcile a potential gross income for a property using grids and qualitative analysis
  • Analyze data from an owner's income statement and compare it with data collected from the market
  • Estimate a vacancy and collection loss from market data
  • Develop a reconstructed operating statement
  • Calculate operating expenses
  • Extract an overall capitalization rate from comparable sales
  • Evaluate the quality, quantity, and reliability of data available in the income capitalization
    approach


Recommended Text


The Appraisal of Real Estate, 13th ed.





USPAP Ordering Information


To order the Uniform Standards of Professional Appraisal Practice, members can call 312-335-4469 for a complimentary copy. Nonmembers call 800-348-2831 and pay $50 or order online from The Appraisal Foundation's Web site at www.appraisalfoundation.org.




To order the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute, call 312-335-4469. A complimentary copy is available to members and nonmembers pay $25.



Downloads
  • Table of Contents and Overview [PDF]
  • Course Schedule [PDF]
    •  
      Audience    
    Residential appraisers with an interest in this property type
     
      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 and Basic Appraisal Procedures 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
  • Uniform Standards of Professional Appraisal Practice, current ed.
  • A Guide to Appraisal Valuation Modeling
    		•
     
      For Further Reading    
    •  Income Valuation of Small, Mixed-Use Properties  
    •  The Appraisal of Real Estate, 13th ed.  
     
      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.
    		    


    Program materials will be picked up at the site.
     
      Additional Information    
    Course Location: Best Western New Englander One Rainin Road Woburn, Massachusetts Registration: 8:00 am Classroom Hours: 8:30 am - 5:00 pm Course materials, shipping fees, and AM break included in tuition. Lunch and afternoon break is "on your own". Directions: From I-93 and points south: Take 93 north to exit 36 (Montvale Avenue). Turn left at the signal. The hotel will be approximately one block down on the right. Overnight Accommodations: A discounted room rate can be obtained by calling 781-935-8160. Be sure to mention the Appraisal Institute when booking your overnight room.

    Early Registration Fee until 11/6

    •  Hotel Information  
     

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