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Don M. Emerson, MAI, SRA
Appraisal Institute - Online Education
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Valuing subdivisions offers general appraisers unique challenges. This new seminar provides a complete look at subdivision valuation methodology as it relates to valuing improved subdivisions. Appraisers who provide opinions of value for proposed subdivisions or a group of existing lots of units will find this seminar a valuable source of reference and ideas. Students will come away with advanced techniques appraisers need to value a group of lots or units that must be marketed over a period of time. Comprehensive examples are provided to explain how line item profit and discount rate selection are handled in conjunction with discounted cash flow analysis. Ample coverage is given to typical problems encountered by appraisers in specific valuation scenarios.
Advanced examples using the income approach are provided explaining how line item profit and discount rate selection are handled in conjunction with discounted cash flow analysis. This sets the stage for more detailed coverage of income, sales comparison and cost approach applications in subdivision valuation.
This seminar provides an introduction to valuation methodology applicable to "improved" subdivisions" or groups of lots or units. It excludes mega projects and large mixed use planned developments.
This seminar provides coverage and examples for:
Group of existing lots
Existing and proposed projects
Phased projects and remaining land for future phases
Valuation of typical suburban subdivisions
Seminar examples use vacant lots for simplicity
Explanation and examples for all three approaches to value
Marketability analysis using the six step process
Inferred method of market analysis (Market study levels A & B)
Module 1: Characteristics and Analysis of Subdivisions
Module 2: Time Line Concepts and USPAP Considerations
Module 3: Time Line Concepts and Value Reference Points
Module 4: Basic Valuation Concepts -- Income Approach
Module 5: Basic Valuation Concepts -- Cost Approach
Module 6: Applying the Income Approach, Part 1
Module 7: Applying the Income Approach, Part 2
Module 8: Applying the Cost Approach, Part 1
Module 9: Applying the Cost Approach, Part 2
Module 10: Applying the Sales Comparison Approach
Upon completion of the seminar, participants will be better able to:
Employ the correct terminology unique to subdivision analysis.
Understand the significance of USPAP provisions applicable to subdivision analysis and how to perform competently.
Recognize the elements of a subdivision and when to apply subdivision analysis to reflect a bulk sale value.
Differentiate between a bulk sale for a group of lots and applying subdivision analysis to reflect vacant land value.
Apply subdivision valuation methodology to solve for a wide variety of valuation scenarios at different points along the time line.
Recognize the strengths and weaknesses of the three approaches to value as they relate to subdivision analysis.
Explain how the selection of line item profit influences the selection of the discount rate.
AI CE Credit for Designated members, Candidates for Designation and Practicing Affiliates
Attend Only = 75 points
Attend and Pass Exam = 75 points
This seminar is intended for general appraisers who have taken
General Income Approach, Part II
or have equivalent knowledge/experience.
General Income Approach, Part II
(or equivalent knowledge/experience)
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
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:
(for 7 hour programs and above)
(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.
ONLINE CLASS ACCESS
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