Outline
- Real Estate Appraisal
- Appraisal Approaches
- Uniform Standards of Professional Appraisal Practice (USPAP)
- The Uniform Residential Appraisal Report (URAR)
- Characteristics of Real Estate
- Value Characteristics
- Physical Characteristics
- Property-Specific Factors Affecting Real Estate Value
- Economic Factors Affecting Real Estate Value
- Defining Market Value
- Making Land More Valuable
- Assemblage and Plottage
- Value of Frontage
- The Sales Comparison Approach
- Substitution and the Typical Buyer
- Adjusting Comparable Sales
- Limits on Adjustments
- Sequence of Adjustments
- Researching the Sale and Transfer of Properties
- Transfer History of the Subject
- Transfer History of the Comparables
- Reconciliation and Indicated Value
- Sales Comparison Opinion of Value
- Final Reconciliation on the URAR Form
- Market Value
- Indicated Value Range
- ”As is”
- Automated Valuation Models (AVM)
- Form 2075
- Home Valuation Code of Conduct (HVCC)
- Enforcement
- Criticism of HVCC
Learning Objectives
- Provide the steps necessary to complete a real estate appraisal
- Understand the three appraisal approaches used to arrive at an opinion of value
- Know what elements are recorded on a Uniform Residential Appraisal Report (URAR)
- Understand how adjustments are made to comparable properties
- Understand the impact of the Home Valuation Code of Conduct (HVCC)
Teaching Methods:
PowerPoints, Video PowerPoint Presentation and Optional Quiz
Course Features
- Lectures 1
- Quizzes 1
- Duration 1 hour
- Skill level All levels
- Language English
- Students 10
- Assessments Yes