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Advanced Concepts & Case Studies

EMAIL   Date: April 22 - 27, 2013   Location: Ashburn, VA
 
  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    
Name  Dulles Area Association of Realtors  
Address  21720 Red Rum Road  
City  Ashburn  
State  VA  
Zip  20147  
Phone  (703) 579-0305  
 
Click Here to check state approvals
     
 
  Sponsor / Contact    
Chapter  Washington DC Metropolitan Area
Website  www.appraisalinstitutedc.org  
Contact Name  Peter Houstle  
Address  11804 Bare Sky Lane  
City  Columbia  
State  MD  
Zip  21044  
Email  info@appraisalinstitutedc.org  
Phone  (301) 924-1020  
 
  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]
    •  
      Audience    
    General appraisers who want to improve their ability to apply appraisal methods, techniques, and procedures. Candidates for Designation 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 14 days prior to program start date, refund in full.
    • 5 - 13 days prior to program start date, $50.00 cancellation fee.
    • Less than 5 days prior to program start date, forfeit of payment.
    		   Transfer Policy
    • Up To 14 days prior to program start date, no transfer fee.
    • 5 - 13 days prior to program start date, $25.00 transfer fee.
    • Less than 5 days prior to program start date, no transfer allowed.
    		    


    Program materials will be picked up at the site.
     
      Additional Information    
    Additional Information:
    Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; course equivalencies. Follow this link: http://www.appraisalinstitute.org/education/downloads/AE_FAQs_Participants.pdf

    REQUIRED DIAGNOSTIC TEST: The diagnostic test must be passed before students can register for this advanced education course. We recommend that students take the test at least 21 days before the classroom session of the course begins. Follow this link to take the free test: http://www.appraisalinstitute.org/education/AETEST.aspx. Test results will be e-mailed to participants within 7 BUSINESS days from the day the test was submitted.

    OTHER IMPORTANT INFORMATION:
    Follow this link for important logistical course details (i.e. required equipment, laptop, software, etc.) http://www.appraisalinstitute.org/education/course_descrb/Default.aspx?prgrm_nbr=503GD&key_type=C

    LOCATION:
    Dulles Area Association of Realtors
    21720 Red Rum Drive, #177
    Ashburn, VA 20147
    703-777-2468
    Directions http://tinyurl.com/DAARAshburndirections

    COURSE SCHEDULE & DEADLINE DATES:
    Prior to the first day of class, a separate 2-hour online session is required. The online session is available 28 days before the classroom session begins. The online session ends 7 days before the classroom session begins.

    March 25, 2013
    2-hour online session begins.

    April 1, 2013
    Last day to register for and submit the diagnostic test.

    April 6, 2013
    Last day to cancel registration with $25 cancel fee (if materials have been shipped).

    April 7, 2013
    Last day to register for the course.
    Last day to receive a "pass" confirmation on diagnostic test.
    Last day to cancel registration with $150 cancel fee.

    April 15, 2013
    Last day to cancel registration with $0 refund.
    Last day to complete 2-hour online session.

    April 22-26, 2013
    Registration, 8:30am
    Classroom Instruction, 9:00am - 5:00pm
    A one hour lunch is on your own. There are numerous restaurants in the vicinity.

    April 27, 2013
    Exam, (in the classroom), 8:30am – 11:30am

    APPRAISAL INSTITUTE HOURS:
    40 (2 online, 35 classroom, 3-hour exam)

    STATE APPROVALS:
    http://www.appraisalinstitute.org/education/statecert.asp

    TEXTBOOK ORDERING INSTRUCTIONS:
    Order text books (separately) online at www.appraisalinstitute.org (click on “Publications”) or call 1-888-756-4624. Students are required to pre-order their textbooks separately from course enrollment. No additional course materials will be available at the class.

    EXAM GRADING POLICY – 15 Business Days:
    The Appraisal Institute's national office will e-mail exam results and certificates of attendance to the students within 15 business days from the date the exams are received at the National Appraisal Institute office.

    CANCELLATIONS/REFUNDS: Requests for cancellations must be received in writing at the chapter office. Confirmed students should not assume that cancellation has been granted until a confirmation has been received. Direct your email requests to: info@appraisalinstitutedc.org. There are NO transfers; you must cancel out of the offering.