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Feasibility, Market Value, Investment Timing: Option Value | Program Details

Overview:
The past decade has seen a revolution in the way investors approach investment decision-making, with option value at the center of the revolution. In this new seminar, appraisers will become better informed about option value and its potentially dramatic impact on property value, especially the value of vacant land. Participants will discover common sense methods to quantify option value and learn how to make it an integral part of investment analysis and appraisal.

Syllabus:
Module 1: Highest and Best Use: A Review of Principles and Applications
Module 2: Relating Highest and Best Use to Investment Decisions
Module 3: Examples of Applications of Highest and Best Use/Investment Decisions
Module 4: Introducing Real Options: The Value of the Option to Wait
Module 5: Option Value and Market Behavior: Insights and Lessons Learned

Learning Objectives:

  • Understanding of Highest and Best Use Principles and Applications.
  • Understanding of Investment Analysis Principles and Applications.
  • Understanding the Link between Highest and Best Use and Investment Decisions.
  • Apply Traditional Highest and Best Use Analysis to Vacant Land and to Improved Property.
  • Recognize and Incorporate the Impact of the Development Option in Value Estimates.

    AI CE Credit for Designated and Associate Members
    This program is approved for 1.25 hours of Appraisal Institute CE credit for every hour taken.

    • Appraisal Institute Credit Hours
    Attendance Hours: 7.0
    Exam Hours: 0.0

    Category
    General [Gen]

    Prerequisites
    The audience for this seminar is general appraisers and residential appraisers with some knowledge of the income approach, and some background in discounted cash flow analysis. Students will be solving intense math/algebraic problems, hence high-school level math skill is essential.

    Required Technology
    The participants must have a financial calculator and be able to use it at a level consistent with completion of the AQB appraisal licensing courses. You can use any of the following calculators: HP 10b, HP 10bii, HP 12c, HP 17bii, HP 19bii calculators or Texas Instruments (TI) BA II PLUS. While any of the above mentioned calculators may be used, only the HP-12C is supported by the instructor and administrative staff, and only HP-12C keystrokes are provided in the course materials.

    Recommended Text
    None.

    Register

    Tuition
    AI Price: $ 114.00
    Full Price: $ 137.00

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    Instructor
    Kenneth M. Lusht, PhD, MAI, SRA

    Contact Name

    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). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a member of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, that I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Appraisal Institute's Code of Professional Ethics and Standard of Professional Appraisal Practice, and that such peer review proceeding may result in termination of my Appraisal Institute membership.

    Additional Information
    ONLINE CLASS ACCESS
    Please allow 1 hour after registration to start an online session in progress (on or after the session start date). Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. You will automatically be taken to the "My Appraisal Institute" page. Near the middle of that page your course will be listed with a link next to it that says "Go To Class".

    If you have any questions, please email us at OL-Help@appraisalinstitute.org.

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