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Advanced Concepts & Case Studies

    Date: November 11 - 16, 2013   Location:
 
  Course    
Category  Other [Oth]  
Level  II  
Attendance Hours  37.0  
Exam Hours  3.0  
Current Price  $ 725.00 AI
$ 1,035.00 Full
 
  Instructor    
William D. Otto Spence, MAI  
    
 
  Location    
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Chapter  Philadelphia Metropolitan
Website  www.aiphilametro.org  
Contact Name  Tiffany L. Lewis  
Address  20 Creekside Drive  
City  Pottstown  
State  PA  
Zip  19464  
Email  contact@aiphilametro.org  
Phone  (610) 326-0100  
 
  Description    
The 40-hour Advanced Concepts & Case Studies course implements a blended learning approach, which includes a pre-class, two-hour online session combined with 35 hours of traditional classroom education and wraps up with a three-hour exam on the sixth morning.

Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; course equivalencies. Click here.

Course Description
This course synthesizes basic and advanced valuation techniques taught in previous courses, and addresses consistent treatment of the three valuation approaches for various valuation problems. Case studies teach participants how to address common but complex appraisal issues, including a leased fee not at market rent, a proposed property, a property in a market not at equilibrium, and a subdivision. The course emphasizes the need to test the reasonableness of conclusion in an appraisal.

Note. This is primarily a synthesis course, not a review course. Like all advanced education courses sponsored by the Appraisal Institute, the course naturally reviews many concepts taught in previous courses. However, it includes some new material and does not include a complete overview of the other courses. Therefore, Advanced Concepts & Case Studies should not be considered an adequate review for the comprehensive exam. To prepare for the comprehensive exam, associates must review all four advanced education courses, as well as basic concepts from qualifying education for certified general appraisers.
  • Develop and reconcile cost, income, and sales comparison approaches for a leased fee interest rent, including consistent treatment of property rights.
  • Recognize the typical relationships between yield rates on leased fee and fee simple estates, considering their varying risk.
  • Review proper procedures for developing a market-supported discounted cash flow analysis, and apply them to practical examples.
  • Develop and reconcile cost, income, and sales comparison approaches for a proposed property as is, upon completion, and upon stabilization.
  • Demonstrate a working knowledge of various methods of calculating a rent-up adjustment and a property rights adjustment.
  • Identify the demographic and economic data used to estimate an absorption period for a development project.
  • Develop and reconcile cost, income, and sales comparison approaches for a property in a market not at equilibrium.
  • Conduct inferred and fundamental demand analysis based on data provided in case studies.
  • Develop and reconcile cost, income, and sales comparison approaches for a subdivision.


Downloads
  • Table of Contents and Overview [PDF]
  • Course Schedule [PDF]
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      Audience    
    General appraisers who want to improve their ability to apply appraisal methods, techniques, and procedures. Associate Members who are working on MAI designations.
     
      Equipment    
     
      Prerequisites    
    Required:

    Recommended:

    Participants 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.
     
      For Further Reading    
    •  The Dictionary of Real Estate Appraisal, 5th ed.  
    •  The Appraisal of Real Estate, 13th ed.  
    •  Market Analysis for Real Estate: Concepts and Applications in Valuation and Highest and Best Use  
    •  Valuation of Apartment Properties  
    •  Subdivision Analysis  
    •  Shopping Center Appraisal and Analysis  
    •  The Valuation of Office Properties  
     
      Disclaimer    
    Cancellation Policy
    • Up To 15 days prior to program start date, $50.00 cancellation fee.
    • 7 - 14 days prior to program start date, $125.00 cancellation fee.
    • Less than 7 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, you will automatically be charged a $25.00 fee and you may keep the material. Once the fee is charged, your refund will be processed. Material returns are no longer accepted. Contact the offering sponsor for more information.
    • Cancel Offering, $25.00 material fee.


    ENROLLMENT POLICY: Your enrollment form and payment by check or online registration must be received by the chapter office at least 14 business (14) days prior to the start of the course. We do not accept walk-in students. ATTENDANCE POLICY. Please be aware that the Appraisal Institute enforces the 100% attendance requirements mandated by the Appraisal Foundation and state regulatory agencies. If you do not attend 100% of the course or seminar, you will receive a notice with your examination results from the Appraisal Institute stating that you have not met the attendance requirement. You must sit for the exam on exam day, pass the exam, and attend all classes to receive a certificate of completion. Pennsylvania State Appraisal Board requires 100% attendance and a passing grade on the exams. Partial credit not awarded. If you have a disability and may require some form of accommodation, please notify us in writing at least 2 weeks in advance and we will arrange for reasonable accommodation.

    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.