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Appraisal Challenges: Declining Markets and Sales Concessions
June 24, 2008
* includes late fee
Mark R. Rattermann, MAI, SRA
Hyatt Regency Austin
208 Barton Springs
Sponsor / Contact
Recognizing shifts in the market is one of the most significant issues facing residential real estate appraisers today. Until recently, many residential appraisers have never seen a significant market downturn in which residential property values and employment in the real estate industry fall. This timely new seminar will discuss the correct use, pitfalls, and procedures used in valuing residential real estate in markets shifting from appreciation to depreciation. In addition, it will focus on the tools necessary to analyze a local market. Although local and national newspapers and local brokerage firms provide statistical analysis indicating a declining market, it is still necessary to provide well-reasoned support for a property value conclusion, decreasing or not. Finally, recognizing, measuring, and adjusting for today’s creative financing plans will be analyzed. Most of these plans involve sellers participating in the plan, and most will have an impact on the price paid, but not the value of the property. Understanding the impact of these concessions on real estate prices is particularly important and is discussed in detail.
Upon completion of the seminar, participants will be able to:
•Recognize the “general” sources of market information that may give indications of market trends. •Recognize a declining market in a local market when it occurs. •Measure the losses in value in the local markets. •Apply the measured rate change in the analysis using the cost approach. •Apply the measured rate change in the analysis using the income capitalization approach. •Apply the measured rate change in the analysis using the sales comparison approach. •Recognize current and new creative financing plans for financing of real estate. •Measure the impact on the sale prices of real estate due to these creative financing plans.
An HP-12C Calculator
Up To 15 days prior to program start date, refund in full.
7 - 14 days prior to program start date, $100.00 cancellation fee.
Less than 7 days prior to program start date, forfeit of payment.
Continuing Education Credit
This course is approved for seven (7) hours of Appraisal Institute continuing education credit. This course might not be approved in all states by the offering date. Please check with your state board for state approval information.
This confirmation will serve as your receipt. All cancellations must be submitted in writing. Confirmed students should not assume that cancellation has been granted until a confirmation has been received.
If you have a disability and require accommodation, please notify the national office at least two weeks in advance and we will arrange for reasonable accommodation. We reserve the rights to cancel, limit, or reschedule the course and to change faculty assignments and facility locations at any time. Prospective students should confirm their registration before making any non-refundable airline reservations. The Appraisal Institute reserves the right to cancel, limit, or reschedule the program and to change faculty assignments and facility locations at any time.
Program materials will be picked up at the site.
8:30-4:30 Lecture Hours
The Appraisal Institute issues certificates for state certification/licensing or state continuing education credit that verify attendance of 100%. Please note, if Appraisal Institute attendance records indicate attendance of less than 100%, the student certificate will reflect this and state agencies may refuse to award credit.