Residential Upzoning: New Challenges and Opportunities for Residential Appraisers

After satisfactorily completing this program, participants should be able to: 

• Explain Upzoning and how it is impacting the residential landscape. 
• Describe the appraisal fundamentals are necessary to competently analyze an upzoning scenario. 
• Recognize applicable licensing and assignment requirements/expectations.

Program Overview:

SYLLABUS 

Introduction 

• Introductory Remarks and Program Overview 

Part 1. Upzoning Overview 

• What is Upzoning? 
• Upzoning Growth and Examples 
• Middle Housing 
• Challenges for Residential Appraisers 
• Population Tiers 
• Major Transit Stops, Minimum Lot Size, and Parking 
• CICs (PUDS)/HOAs/Condos 
• Conclusion/Summary 

Part 2. Upzoning Appraisal Fundamentals 

• The Basics 
• H&BU and Market Analysis 
• Market Analysis: 
  • Formal Components 
  • Marketability Study 
  • Neighborhood Analysis 
  • Keep it Simple 
• Highest and Best Use Analysis 
• Common Concerns
• Fundamental Analysis 
• Inferred Analysis 
• H&BU Question 
• License Question H&BU, Market Analysis, and Upzoning 
• Conclusion/Summary 

Part 3. Regulations and Requirements 

• Regulations 
• Communicating Assignment Results 
• Fannie Mae and Freddie Mac 

Part 4. Analyzing a Property with Upzoning Overlay 

• Introduction 
• H&BU and Reasonably Probable 
• Transitions 
• Practical Application: 
  • Assumptions 
  • Data Gathering 
  • Analysis 
  • Statement of Work 
  • Highest & Best Use: As Vacant / As Improved 
  • Density and Maximally Productive Use 
  • Highest and Best Use 

Part 5. Documentation and Examples 

• Affordable Housing 
• Market Analysis Examples 
• Highest and Best Use Statement Examples 
• Cost Approach 
• Market Analysis Checklist 
• Subdivision Analysis 
• Redevelopment Project Financing 

Conclusion 

• Q&A and Closing Remarks

Additional Information:

Important Pre-class Download: For the best learning experience, it is recommended you download the program materials prior to class and come prepared to take notes. You can either print the handbook or bring a laptop with materials saved where they can be easily accessed.

Materials may be obtained by logging onto the Appraisal Institute website. (Click on the three horizontal lines to the left of the AI logo and select “My AI Account” from the drop-down menu.)

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