- Date
- On Demand
- Sponsor
- Appraisal Institute
- Appraisal Institute Government Relations Location
- Instructor
- Edward T. Molinari, SRA, AI-RRS
J. Craig Julian, SRA, AI-RRS
Richard C. DuBay, SRPA, SRA - Class Time
- 14 hours
- Exam Time
- 2 Hours
- Full Price
- $345.00
- AI Price
- $290.00
Course Description
This course focuses on the valuation of vacant land parcels and the development of the cost approach. Create a current cost estimate using market extraction, discover effective interview techniques, and explore information provided by
professional cost data sources. An in-depth case study takes you from the origin of the appraisal assignment to a final value estimate using various cost approach applications.
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Who Should Enroll
AI CE Points
Attend:
70
Attend & Pass Exam:
140
Pass Only:
125
State Approvals
| State | QE/CE | Course & Exam | Course Only | Exam Only | Delivery Format | Approval Format | Start Date | Expire Date | State Code |
|---|---|---|---|---|---|---|---|---|---|
| AL | QE | 15 | 14 | 1 | Online | Online | 11/01/2022 | 09/30/2024 | C02682 |
| CA | CE | 14 | 14 | Online | Online | 08/27/2008 | 06/16/2024 | 20CP754601429 | |
| CA | QE | 15 | 14 | 1 | Online | Online | 08/27/2008 | 06/29/2024 | 08754126 |
| IL | QE | 15 | 14 | 1 | Online | Online | 01/28/2021 | 12/31/2024 | 573.000517 |
| ND | QE | 15 | 14 | 1 | Online | Online | 07/03/2008 | QE-2813 | |
| SC | QE | 15 | 14 | 1 | Online | Online | 09/01/2022 | 08/31/2024 | AS.1DQE-5 |
| TN | CE | 15 | 14 | 1 | Online | Online | 06/15/2022 | 07/31/2024 | 1203 |
| TX | QE | 15 | 14 | 1 | Online | Online | 06/01/2022 | 06/01/2025 | TX Provider #8038 Course #: 27897 |
| UT | QE | 15 | 14 | 1 | Online | Online | 10/01/2022 | 09/30/2024 | AQ220913 |
| VA | CE | 14 | 14 | Online | Online | 06/02/2008 |
Course Objectives
- Identify all steps in completing a cost approach. The step-by-step process of estimating current construction cost is the focus.
- Recognize how to use data sources and the comparative-unit method of cost calculation.
- Apply the age-life and market extraction methods of estimating depreciation.
- Apply the breakdown method of estimating depreciation, including physical deterioration, functional obsolescence, and external obsolescence.
- Recognize elements of cost approach summation, including reconciliation of depreciation estimates.
- Identify residential site valuation principles and how they relate to the concept of market analysis and the development of a highest and best use conclusion.
- Identify the elements of comparison and the units of comparison as they are applied in the sales comparison approach for estimating site value.
- Recognize steps in the extraction and allocation methods of site valuation.
- Reconcile multiple site value indications to a final opinion of site value.
Course Details
Program Overview:
Online Syllabus
Assignments:
No
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.
- Free Review: Using a Financial Calculator; Formulas, Symbols, Math Review, and Sample Problems; and Financial Calculator Practice Exercises
- 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:
Exam:
You will have 90 days from the time that you complete the course to take the proctored, offline exam. This examination is not available through Pearson. To set up
a special proctor, please complete the application and follow this link.
Online Course Access
Go to www.appraisalinstitute.org and log in with the username and password you used when you registered. Click on the red “My Account” button if you are not automatically taken to your account page.
1. Click "Education and Events" on the right navigation menu.
2. Find the course under the “Online Courses” heading and click the “Begin” button.
IMPORTANT NOTE: Once this button is clicked, your access length time (e.g. 90 days) will begin. Only click when you intend to start the course. If you are returning, once you have started the course, click the “Continue” button to continue.
Technology-Based Education Student Disclaimer
I agree to the terms and policies set forth under the Appraisal Institute Education Policy. I also certify that I am the person identified under Personal Data and that I will personally complete each assigned component 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 Designated member, Candidate for Designation, Practicing Affiliate, or Affiliate of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute, and such peer review proceeding may result in termination of my Appraisal Institute membership, candidacy, and/or affiliation.
Other Details
For information about how on demand online education programs work, registration and cancellation policies, and other details, see our On Demand Online Education Frequently Asked Questions.
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Requirements:
Prerequisites
Course Materials & Recommended Books
Pricing Options
| Rate | Full Price | AI Price |
|---|---|---|
| Standard
Today thru 12/31/2050 |
$345.00 | $290.00 |
Have Exam Questions?
Event Information
This course is only for students who need credit in Florida. The course content is the same as the regular version, however, the exam is different to meet Florida-specific requirements for more exam questions.