Real Estate Appraisals

Teacher

Debra Killian

Outline

Real Estate Appraisal
1. Appraisal Approaches
2. Uniform Standards of Professional Appraisal Practice (USPAP)
3. The Uniform Residential Appraisal Report (URAR)
Characteristics of Real Estate
1. Value Characteristics
2. Physical Characteristics
3. Property-Specific Factors Affecting Real Estate Value
4. Economic Factors Affecting Real Estate Value
Defining Market Value
Making Land More Valuable
1. Assemblage and Plottage
2. Value of Frontage
The Sales Comparison Approach
1. Substitution and the Typical Buyer
2. Adjusting Comparable Sales
3. Limits on Adjustments
4. Sequence of Adjustments
Researching the Sale and Transfer of Properties
1. Transfer History of the Subject
2. Transfer History of the Comparables
Reconciliation and Indicated Value
1. Sales Comparison Opinion of Value
2. Final Reconciliation on the URAR Form
3. Market Value
4. Indicated Value Range
5. ”As is”
Automated Valuation Models (AVM)
1. Form 2075
Home Valuation Code of Conduct (HVCC)
1. Enforcement
2. 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 11
Certificate Yes
Assessments Yes

INTRODUCTION

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COURSE

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  Real Estate Appraisals
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  Appraisals Quiz 0 question

Debra Killian

Debra Killian is a NMLS State Licensed Mortgage Loan Originator and Certified Residential Mortgage Specialist (CRMS), graduated from Western Connecticut State University, Danbury, CT with a B.B.A. in Accounting.

She has over 35 years of financial, banking, accounting and business experience. Since 1994 when she started originating retail residential mortgages she has directly overseen and managed in excess of $1 billion in closed residential real estate loans, representing thousands of customers.
Debra's experience and educational focus has given her an edge in the marketplace and a strong foundation as a passionate trainer for mortgage originators and Realtors offering customized sales and and mortgage-related training courses.

She utilizes a proprietary software system (LoanMgr) developed by her partner and husband Don DeRespinis, CPA, CRMS designed for compliance, transparency and constant communications with customers, clients, Realtors, attorneys and closing agents throughout each and every transaction.

In 2010, Debra co-authored one of the first NMLS approved 20-hour Pre-licensing SAFE Act courses, required for all state-licensed mortgage originators by Title V of the SAFE Act. She also develops for continuing education classes for Realtors.

In 2011, Debra and Don co-authored The Mortgage Professional, National Residential Mortgage Loan Originator which has been approved by the NMLS for the 20-hour pre-licensing course.

In 2014, she co-authored the MBA's School of Loan Origination(SOLO) I and II.

Past positions include Directors of the CT Mortgage Bankers Association (CMBA) and National Association of Mortgage Professionals (NAMB), Past President of the CT Mortgage Association (CMA) as well as served on the Education, FHA and Government Affairs committees of NAMB. Debra is one of only four originators in CT to earn the Certified Residential Mortgage Specialist (CRMS) designation and the first originator in CT to earn the Lending Integrity Seal of Approval from NAMB.

Debra speaks on a variety of topics to various professional groups and trade organizations and is available for custom course development and delivery.

She is a member of the NAMB, CMA, AIME, Northern Fairfield County Association of Realtors (NFCAR), Connecticut Association of Realtors (C.A.R) and the National Association of Realtors. (NAR).