Real Estate Appraisals

Associated Courses

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SKU: MP-APPR Category:

Outline

  1. Real
    Estate Appraisal

    1. Appraisal Approaches
    2. Uniform Standards of Professional Appraisal Practice (USPAP)
    3. The Uniform Residential Appraisal Report (URAR)
  2. 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
  3. Defining
    Market Value

  4. Making
    Land More Valuable

    1. Assemblage and Plottage
    2. Value of Frontage
  5. The
    Sales Comparison Approach

    1. Substitution and the Typical Buyer
    2. Adjusting Comparable Sales
    3. Limits on Adjustments
    4. Sequence of Adjustments
  6. Researching
    the Sale and Transfer of Properties

    1. Transfer History of the Subject
    2. Transfer History of the Comparables
  7. 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”
  8. Automated
    Valuation Models (AVM)

    1. Form 2075
  9. Home
    Valuation Code of Conduct (HVCC)

    1. Enforcement
    2. Criticism of HVCC

Learning Objectives

  1.       Provide the steps necessary to complete a real
    estate appraisal
  2.       Understand the three appraisal approaches used
    to arrive at an opinion of value
  3.       Know what elements are recorded on a Uniform
    Residential Appraisal Report (URAR)
  4.       Understand how adjustments are made to
    comparable properties
  5.       Understand the impact of the Home Valuation
    Code of Conduct (HVCC)

Teaching Methods:  

PowerPoints, Video PowerPoint Presentation and Optional Quiz