Advanced Concepts & Case Studies

• Develop and reconcile the cost, income capitalization, and sales comparison approaches for a leased fee interest rent, including consistent treatment of property rights.
• Recognize the typical relationships between yield rates on leased fee and fee simple estates, considering their varying risk.
• Review proper procedures for developing a market-supported discounted cash flow analysis and apply them to practical examples.
• Develop and reconcile the cost, income capitalization, and sales comparison approaches for a proposed property as is, upon completion, and upon stabilization.
• Demonstrate a working knowledge of various methods of calculating a rent-up adjustment and a property rights adjustment.
• Identify the demographic and economic data used to estimate an absorption period for a development project.
• Develop and reconcile the cost, income capitalization, and sales comparison approaches for a property in a market not at equilibrium.
• Conduct inferred and fundamental analysis based on data provided in case studies.
• Develop and reconcile the cost, income capitalization, and sales comparison approaches for a subdivision.
  

Program Overview:
Table of Contents and Overview
Course Schedule

Assignments:
Yes. A pre-class, 2-hour online session.

Equipment:

• A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
• You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.
• For more information and a free review, click here.
• For additional help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
• HP-12C calculator User's Manual.

Additional Information:

Course Materials Include:

• Course Handbook (513 pp.)
• Solutions Booklet (110 pp.)
• Case Study Booklet (86 pp.)
• Self-Study Problems (40 pp.)

Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; and course equivalencies.

Requirements:

• Microsoft Excel 2007 or 2010 must be loaded and operational (external mouse recommended). (You may use other spreadsheet programs, but those programs won’t be supported in class; demonstrations will be done in Excel.)     
• Do not enroll expecting to be taught how to use Excel. 

• Advanced Education Diagnostic Test
• Advanced Income Capitalization    
• General Appraiser Sales Comparison Approach    
• General Appraiser Market Analysis and Highest & Best Use
• General Appraiser Income Approach/Part 1    
• General Appraiser Income Approach/Part 2    
• General Appraiser Report Writing and Case Studies

• Advanced Market Analysis and Highest & Best Use 

• Market Analysis for Real Estate, 2nd ed.
• The Valuation of Apartment Properties, 3rd ed.
• Subdivision Valuation, 2nd ed.
• Shopping Center Appraisal and Analysis, 2nd ed.
• The Valuation of Office Properties: A Contemporary Perspective
• The Appraisal of Real Estate, 15th ed.
• The Dictionary of Real Estate Appraisal, 7th ed.