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Feasibility, Market Value, Investment Timing: Option Value

    Online Education
 
  Seminar    
Category  General [Gen]  
Attendance Hours  7.0  
Current Price  $ 114.00 AI
$ 137.00 Full
 
  Instructor    
Kenneth M. Lusht, PhD, MAI, SRA  
    
 
  Location    
Appraisal Institute - Online Education
 
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  Sponsor / Contact    
  Appraisal Institute  
Email  OL-Help@appraisalinstitute.org  
Phone  (877) 674-2447  
 
  Description    
Overview:
The past decade has seen a revolution in the way investors approach investment decision-making, with option value at the center of the revolution. In this new seminar, appraisers will become better informed about option value and its potentially dramatic impact on property value, especially the value of vacant land. Participants will discover common sense methods to quantify option value and learn how to make it an integral part of investment analysis and appraisal.


Syllabus:
Module 1: Highest and Best Use: A Review of Principles and Applications
Module 2: Relating Highest and Best Use to Investment Decisions
Module 3: Examples of Applications of Highest and Best Use/Investment Decisions
Module 4: Introducing Real Options: The Value of the Option to Wait
Module 5: Option Value and Market Behavior: Insights and Lessons Learned

Learning Objectives:
  • Understanding of Highest and Best Use Principles and Applications.
  • Understanding of Investment Analysis Principles and Applications.
  • Understanding the Link between Highest and Best Use and Investment Decisions.
  • Apply Traditional Highest and Best Use Analysis to Vacant Land and to Improved Property.
  • Recognize and Incorporate the Impact of the Development Option in Value Estimates.

    AI CE Credit for Designated and Associate Members
    This program is approved for 1.25 hours of Appraisal Institute CE credit for every hour taken.

    •  
      Equipment    
    The participants must have a financial calculator and be able to use it at a level consistent with completion of the AQB appraisal licensing courses. 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.
     
      Prerequisites    
    The audience for this seminar is general appraisers and residential appraisers with some knowledge of the income approach, and some background in discounted cash flow analysis. Students will be solving intense math/algebraic problems, hence high-school level math skill is essential.
     
      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: $60 cancellation fee

    • 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:
      • First transfer allowed: no charge
      • Second transfer allowed:
         $60 charge
               (for 7 hour programs and above)
         $35 charge
               (for 6 hour programs and below)
      • Any transfer not allowed beyond two

    • 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    
    ONLINE CLASS ACCESS
    Please allow 1 hour after registration to start an online 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 OL-Help@appraisalinstitute.org.


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