Advanced Land Valuation: Sound Solutions to Perplexing Problems

• Use a land residual technique based on a DCF analysis to value land intended for two alternative competing uses (“for rental” apartments versus “for-sale” condominiums).
• Determine the highest and best use of land when the legally permissible, physically possible, and financially feasible use(s) are very uncertain and cannot be determined using traditional methodologies.
• Determine land value when the value is a function of a curvilinear relationship with its appropriate unit of comparison (in this case, the value of land suitable for apartment development as a function of density).
• Determine land rent using a nontraditional unit of comparison (in this case land rental value based on average traffic volume).
• Estimate the value of land subject to a long-term ground lease with multiple forms of financial benefits accruing to the landowner.

Program Overview:
Table of Contents and Overview
Seminar Schedule

Assignments:

Equipment:

• A laptop computer is highly recommended.
• Excel Analysis ToolPak should be installed and operational.

Additional Information:
Seminar Materials Include:

• Seminar Handbook (170 pp.)
• Pre-Class Downloads (1.5 KB)
• Pre-Class Memo (1 p.)

Requirements:
None specified

• Familiarity with DCF concepts and general valuation approaches, specifically yield capitalization
• Basic working knowledge of Excel helpful

• Market Analysis for Real Estate, 2nd ed.
• The Appraisal of Real Estate, 15th ed. 
• The Dictionary of Real Estate Appraisal, 7th ed.