New York Codes, Rules and Regulations › Title 19 - DEPARTMENT OF STATE › Chapter XXXI - Board of Real Estate Appraisal › Part 1103 - Qualifying Course Regulations › Section 1103.6 - Residential course outlines

Current through Register Vol. 46, No. 28, July 10, 2024
The following are the required subjects to be included in the
				  courses of study and the required number of hours to be devoted to residential
				  appraisal courses. All appraisal schools must utilize the following course
				  outline in conducting their programs. The following course outline are not
				  intended to substitute for specific outlines for the proposed course.
(a)
R-5/Basic Appraisal
				Principals
A.
Real Property Concepts and Characteristics
4 hours
1. Basic Real Property Concepts 2. Real Property
							 Characteristics 3. Legal Description
B.
Legal Consideration
4 hours
1. Forms of Ownership 2. Public and Private Controls 3.
							 Real Estate Contracts 4. Leases
C.
Influences on Real Estate Values
2 hours
1. Governmental 2. Economic 3. Social 4. Environmental,
							 Geographic and Physical
D.
Types of Value
3 hours
1. Market Value 2. Other Value Types
E.
Economic Principles
10 hours
1. Classical Economic Principles 2. Application and
							 Illustrations of Economic Principles
F.
Overview of Real Estate Markets and Analysis
3 hours
1. Market Fundamentals, Characteristics, and
							 Definitions 2. Supply Analysis 3. Demand Analysis 4. Use of Market
							 Analysis
G.
Ethics and How They Apply in Appraisal Theory and
							 Practice
2 hours
Final Examination (75-100 questions)
2 hours
Total
30 hours
(b)
R-6/Basic Appraisal Procedures
A.
Overview of Approaches to Value
10 hours
B.
Valuation Procedures
8 hours
1. Defining the Problem 2. Collecting and Selecting
							 Data 3. Analyzing 4. Reconciling and Final Value Opinion 5. Communicating the
							 Appraisal
C.
Property Description
4 hours
1. Geographic Characteristics of the Land/Site 2.
							 Geologic Characteristics of the Land/Site 3. Location and Neighborhood
							 Characteristics 4. Land/Site Considerations for Highest and Best Use 5.
							 Improvements - Architectural Styles and Types of Construction 6. Special Energy
							 Efficient Characteristics of the Improvements
D.
Residential or General Applications
6 hours
Final Examination (75-100 questions)
2 hours
Total
30 hours
(c)
R-7/Residential Market Analysis and Highest and Best Use
A.
Residential Markets and Analysis
8 hours
1. Market Fundamentals, Characteristics, and
							 Definitions 2. Supply Analysis 3. Demand Analysis 4. Use of Market
							 Analysis
B.
Highest and Best Use
6 hours
1. Test Constraints 2. Application of Highest and Best
							 Use 3. Special Considerations 4. Market Analysis 5. Case Studies
Final Examination (35-30 questions)
1 hour
Total
15 hours
(d)
R-8/Residential Appraiser Site Valuation and Cost Approach
A.
Site Valuation
6 hours
1. Methods 2. Case Studies
B.
Cost Approach
8 hours
1. Concepts and Definitions 2.
							 Replacements/Reproduction Cost New 3. Accrued Depreciation 4. Methods of
							 Estimating Accrued Depreciation 5. Case Studies
Final Examination (35-30 questions)
1 hour
Total
15 hours
(e)
R-9/Residential Sales Comparison and Income Approaches
A.
Valuation Principles and Procedures-Sales Comparison
							 Approach
1 hour
B.
Valuation Principles and Procedures-Income
							 Approach
1 hour
C.
Finance and Cash Equivalency-Identification of Seller
							 Concessions and Their Impact on Value
2 hours
D.
Financial Calculator Introduction
2 hours
E.
Identification, Derivation and Measurement of
							 Adjustments
9 hours
F.
Gross Rent Multipliers
2 hours
G.
Partial Interests
2 hours
H.
Reconciliation
2 hours
I.
Case Studies and Applications
7 hours
Final Examination (75-100 questions)
2 hours
Total
30 hours
(f)
R-10/Residential Report Writing and Case Studies
A.
Writing and Reasoning Skills
1 hour
B.
Common Writing Problems
3 hours
C.
Form Reports
2 hours
D.
Report Options and USPAP Compliance
2 hours
E.
Case Studies
6 hours
Final Examination (35-50 questions)
1 hour
Total
15 hours
(g)
R-11/Advanced Residential Applications and Case Studies
A.
Complex Property, Ownership and Market Conditions
3 hours
B.
Deriving and Supporting Adjustments
3 hours
C.
Residential Market Analysis - Seller Concessions -
							 Special Energy Efficient Items (
i.e.
, Green Buildings)
3 hours
D.
Advanced Case Studies
5 hours
Final Examination (35-30 questions)
1 hour
Total
15 hours