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    General Appraiser Site Valuation and Cost Approach

    Register
    October 16-19, 2024 Woburn, MA
    Date
    October 16-19, 2024
    Location
    Woburn, MA
    Sponsor
    Massachusetts Rhode Island and Maine Chapter
    Instructor
    Edward V. Bowler, MAI, SRA
    Class Time
    27 hours
    Exam Time
    3 Hours
    Full Price
    $660.00
    AI Price
    $610.00
    Enroll by October 2!
    View Pricing Options
    Course Description
    This is a practical, hands-on course that concerns two basic aspects of real estate appraisal: land/site valuation and the development of the cost approach. Extensive use of problems and case studies will give you practice in applying site valuation and cost approach methods learned in previous courses. Special attention is given to the appraisal of various types of sites and the various means of measuring depreciation. Two in-depth case studies are presented. The first case study addresses the valuation of an industrial property and demonstrates the fundamentals of site valuation, estimation of current improvement cost, and various methods of recognizing and measuring depreciation. The second case study is a short one, featuring valuation of a residential subject site using the sales comparison approach, extraction, interview techniques, and information provided by professional cost data sources.

     

    Who Should Enroll
    Those seeking general real property appraiser certification
    AI CE Points
    Attend:
    175
    Attend & Pass Exam:
    225
    Pass Only:
    200
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    Course Objectives
    • Develop a complete cost approach. The step-by-step process of estimating current construction cost is the focus.
    • Identify and use data sources and the comparative-unit method of cost calculation.
    • Apply the age-life and market extraction methods of estimating depreciation.
    • Apply the breakdown method for estimating depreciation, including physical deterioration, functional obsolescence, and external obsolescence.
    • Recognize elements of cost approach summation, including reconciliation of depreciation estimates.
    • Identify basic site valuation principles and how they relate to the concept of market analysis and the development of a highest and best use conclusion.

    Course Details

    Program Overview:
    Table of Contents and Overview
    Course Schedule

    Assignments:

    No

    Equipment:

    ·        A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended. 

    ·         You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.

    ·         Free Review: Using a Financial Calculator: Formulas, Symbols, Math Review, and Sample Problems; and Financial Calculator Practice Exercises.

    ·         For additional help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.

    ·         HP-12C calculator User's Manual.

    Additional Information:

    Course Materials Include:

    • Course Handbook (428 pp.)
    • Solutions Booklet (150 pp.)
    • Self Study Problems (67 pp.)
    • Pre-Class Memo (1 p.)
    • Case Study (28 pp.)

    You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.

    Requirements:
    None specified

    Additional Course Offerings
    Sponsor Date Location Format
    Chicago Chapter March 4-7, 2024 Chicago, IL Classroom View Details Register
    Appraisal Institute On Demand Online View Details Register
    Appraisal Institute July 22 - August 1, 2024 Synchronous View Details Register
    Tennessee Chapter August 26-29, 2024 Nashville, TN Classroom View Details Register
    Appraisal Institute September 16-26, 2024 Synchronous View Details Register
    Event Information

    Course Location/Schedule:

    Courtyard By Marriott, 700 Unicorn Park Drive, Woburn, MA

    Check-in: 8:00 am on October 16, 2024

    Classroom Hours: 8:30 am - 5:00 pm unless other stated by the instructor

    Course Attendance: One hundred percent (100%) attendance is required for all Appraisal Institute education programs. Credit and a course completion certificate can only be issued by attending 100% of the course. Please plan accordingly and be on time as late arrival or leaving early could jeopardize your receiving a certificate of attendance.

    Course Materials/Breaks: A downloaded copy of materials is included in tuition.

    Overnight Accommodations: We now have a discounted rate for students attending AI programs who wish to book overnight accommodations. Contact the Chapter office for details.