Cost Approach This course concentrates on the valuation methodology known as the Cost Approach. It incorporates a discussion of the meaning and measurement of market based judgments regarding both Cost New and potential depreciation factors. Essential for appraisers, this class also lays the groundwork for sales associates to understand, quantify, and thus, discuss and advise buyers and sellers with regard to such issues as physical depreciation, locational and economic detriments, and the market's reaction to non-typical or specialized properties. An advanced Cost Approach Class will be unveiled in late 1999 which will emphasis application for both residential and commercial properties including cost new abstraction and economic calculations. The Sales Comparison Approach Concentrates on how real estate professionals estimate the market's behavior toward a given property based on its previous behavior toward similar, existing properties.
Emphasis is on basic methodology and the essential principle of matched pair analysis.
Residential Case Study Concentrates on delivering all the information necessary to perform a residential appraisal, including a slide presentation on the inspection, pertinent documents, and adequate comparable sales data to analyze cost new, depreciation, sales comparison adjustment abstraction, and GRM applications. This course is highly recommended as a precursor to any income approach classes with any organization. The operational expertise with the calculator and introduction to the income approach concepts will enhance your ability to fully benefit from educational experiences with this more abstract area of appraisal practice. Income Approach Introduction, Non-Farm Properties Will establish a theoretical and practical foundation for forecasting income and expenses, collecting data, and applying the information to various types of income properties. Finally, case studies of each of the major types of income producing properties are examined.