Advanced Residential Applications and Case Studies/Part 1

Instructor: Mark V. Smeltzer, Sr., MAI, SRA, AI-GRS, AI-RRS

Class Time: 14 hours

Exam Time: 1 Hour

In Part 1 of a two-course program, you'll apply appraisal techniques to solve a complex residential case study appraisal assignment. Putting your knowledge of terminology, concepts, procedures, and methods to the test, you'll demonstrate competence in the areas of appraisal analysis learned in previous courses. By successfully completing the course and exam, you'll have met most states' education requirements in the content area identified as advanced residential applications and case studies. If you are seeking the Appraisal Institute SRA designation, this course and Advanced Residential Report Writing/Part 2 serves as an alternative to complete your Residential Demonstration of Knowledge requirement.

PRECLASS VIDEO AND ASSIGNMENT!

To ensure success in this course, it is important that you watch a short preclass video, which details the unique expectations not only for this course/package but also the preclass assignment as well.

If you wish to become a State Certified Residential Appraiser, Advanced Residential Applications and Case Studies/Part 1 is approved by the Appraiser Qualifications Board for 15 content hours in advanced residential applications and case studies. Advanced Residential Report Writing/Part 2 is approved for 30 hours in the appraisal subject matter elective category.

The 45-Hour Package is comprised of two courses:

Advanced Residential Applications & Case Studies/Part 1
Advanced Residential Report Writing/Part 2

Following are the requirements to use the 45-Hour Package as an alternative to the Residential Demonstration Report:

You must register for a paired package of Part 1 and Part 2.
Part 1 and Part 2 of a paired package are generally scheduled 3 - 4 weeks apart.
It is not permissible to register or take Part 2 unless it is in the same pairing as Part 1.
Course materials will be sent to you before class begins and will be accompanied by a memo explaining the preparations that you should make before coming to class. Be sure to register at least 2 weeks before the course starting date so that you can receive your materials in time to complete the required preparations.
For this course, case study solutions are not distributed at the end of class.

Who Should Enroll

Appraisers seeking residential real property appraiser certification with experience in and understanding of the fundamental concepts of appraising.

Course Objectives

Identify and document pertinent information from the market for neighborhood/market analysis.
Identify a preliminary highest and best use and support the preliminary conclusions after cumulative analysis.
Support cost estimates through extraction; reconcile a cost per square foot; and determine physical deterioration by the age/life method and the breakdown method.
Derive and reconcile a GRM, market rent, and support for adjustments through the income capitalization approach.
Complete paired sales analysis for specific elements and provide support for adjustments.
Reconsider your preliminary highest and best use and provide additional support and rationale for the conclusions.
Reconcile a final opinion of value for the subject property.

Equipment Requirements:

A laptop computer is required with a flash drive and Microsoft Word and Excel OR form software with AI Reports Form 100, Summary Appraisal Report • Residential, installed OR other word processing/spreadsheet program AND Adobe Acrobat Reader software for converting files to PDFs.
A financial calculator is required. The accepted model used in the program is the HP-12C.
You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.

Connection Information:

Several minutes after you register, you will receive a second e-mail that includes instructions on how to connect to the synchronous sessions. If you do not receive the connection information, please check your junk, spam, or quarantine folder.

Disclaimer:
I agree to the terms and policies set forth under the Appraisal Institute Online Education Policy. I also certify that I am the person identified above under Personal Data and that I will personally complete each assigned module of instruction and any examination(s).

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Advanced Residential Applications and Case Studies/Part 1