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    Residential Site Valuation and Cost Approach

    More Info Register
    June 17-18, 2024 Walnut Creek, CA
    Date
    June 17-18, 2024
    Sponsor
    Northern California Chapter
    Location
    Treat Towers
    1255 Treat Boulevard
    First Floor Conference Room
    Walnut Creek, CA 94597
    Instructor
    Mark V. Smeltzer, MAI, SRA, AI-GRS, AI-RRS
    Class Time
    14 hours
    Exam Time
    1 Hour
    Full Price
    $495.00
    AI Price
    $395.00
    Enroll by May 31 and save $30!
    View Pricing Options
    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.


    Who Should Enroll
    Those seeking residential real property appraiser licensure or certification with introductory experience and an understanding of the fundamental concepts of appraising
    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 CE 15 14 1 Classroom Classroom 10/01/2022 09/30/2024 C02687
    AL QE 15 14 1 Classroom Classroom 10/01/2022 09/30/2024 C02687
    AR CE 14 14 Classroom Classroom 05/06/2022 09/10/2025
    AR QE 15 14 1 Classroom Classroom 05/06/2022 09/10/2025
    AZ CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    AZ QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    CA CE 14 14 Classroom Classroom 09/20/2021 07/27/2025 05754102
    CA QE 15 14 1 Classroom Classroom 09/20/2021 07/27/2025 05754102
    CO CE 15 14 1 Classroom Classroom 04/16/2024 04/16/2027 2619
    CO QE 15 14 1 Classroom Classroom 04/16/2024 04/16/2027 2619
    DC CE 15 14 1 Classroom Classroom 02/29/2024 02/28/2026 4055
    DC QE 15 14 1 Classroom Classroom 02/29/2024 02/28/2026 4055
    DE CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    DE QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    FL CE 14 14 Classroom Classroom 10/27/2023 10/26/2025 0007610
    FL QE 15 14 1 Classroom Classroom 10/06/2022 10/05/2024 0007815
    GA CE 15 14 1 Classroom Classroom 10/07/2005 43954
    GA CE 14 14 Classroom Classroom 10/01/2005 43955
    GA QE 15 14 1 Classroom Classroom 10/01/2005 43954
    HI CE 14 14 Classroom Classroom 04/16/2024 12/31/2024 23-367
    HI QE 15 14 1 Classroom Classroom 04/16/2024 12/31/2024 23-367
    IA CE 14 14 Classroom Classroom 04/16/2024 04/15/2027 A518-437
    IA CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 A518-1194
    IA QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 A518-404
    ID CE 15 14 1 Classroom Classroom 04/16/2024 02/28/2026
    ID QE 15 14 1 Classroom Classroom 04/16/2024 02/28/2026
    IL CE 14 14 Classroom Classroom 01/01/2023 12/31/2024 575.001131
    IL QE 15 14 1 Classroom Classroom 01/01/2023 12/31/2024 573.000401
    IL QE 15 14 1 Classroom Classroom 09/23/2005 12/31/2024 573.000401
    IN CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    IN QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    KS CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 232.C24.R
    KS QE 15 14 1 Classroom Classroom 01/01/2024 12/31/2024 333.P24.R
    KY CE 15 14 1 Classroom Classroom 07/01/2023 06/30/2024
    KY QE 15 14 1 Classroom Classroom 07/01/2023 06/30/2024
    LA CE 14 14 Classroom Classroom 04/16/2021 06/14/2024 A0085
    LA QE 15 14 1 Classroom Classroom 04/16/2021 06/14/2024 A0085
    MA CE 14 14 Classroom Classroom 04/25/2024 04/15/2027 00120151
    MA QE 15 14 1 Classroom Classroom 04/25/2024 04/15/2027 00120128
    MD CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    MD QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    ME CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    ME QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    MI CE 14 14 Classroom Classroom 09/05/2023 09/05/2026 20 - 864099
    MI QE 15 14 1 Classroom Classroom 04/16/2024 04/16/2027 20-1197146
    MN CE 15 14 1 Classroom Classroom 05/01/2024 04/30/2026 58775
    MN CE 14 14 Classroom Classroom 05/01/2024 04/30/2026 996064
    MN QE 15 14 1 Classroom Classroom 05/01/2024 04/30/2026 509
    MO CE 14 14 Classroom Classroom 04/16/2024 04/15/2027
    MO QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027
    MT CE 14 14 Classroom Classroom 04/16/2024 04/15/2027 REA-CEC-REC-17970
    MT QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 REA-CEC-REC-17970
    NC QE 15 14 1 Classroom Classroom 01/01/2024 12/31/2024
    ND QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 QE-223011
    NE QE 15 14 1 Classroom Classroom 05/21/2008 04/15/2027 1151405.02
    NJ CE 14 14 Classroom Classroom 04/16/2024 04/15/2027 2024-3015
    NJ QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 2024-3015
    NV CE 14 14 Classroom Classroom 11/01/2022 05/23/2024 CE.0009707-A
    NV QE 15 14 1 Classroom Classroom 11/01/2023 08/31/2024 PL.0009586-A
    NY CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 A5480-14
    NY QE 15 14 1 Classroom Classroom 10/01/2023 09/30/2024 Q0206 R8
    OH CE 14 14 Classroom Classroom 01/01/2024 12/31/2024 084402604A 22
    OH QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    OK CE 14 14 Classroom Classroom 04/16/2024 04/15/2027 703v
    OK QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 612
    OR CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 APIN-Q-0424-9030
    OR QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 APIN-Q-0424-9030
    PR CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    PR QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    RI CE 15 14 1 Classroom Classroom 04/17/2027 04/15/2027 REA.0002187-CE
    RI QE 15 14 1 Classroom Classroom 04/17/2027 04/15/2027 REA.0002187-CE
    SC CE 15 14 1 Classroom Classroom 09/01/2022 08/31/2024 CE1982
    SC QE 15 14 1 Classroom Classroom 09/01/2022 08/31/2024 AS.1QE5
    SC QE 15 14 1 Classroom Classroom 08/31/2014 08/31/2024 AS.1QE-5
    SD CE 15 14 1 Classroom Classroom 11/26/2023 04/15/2027 SD 381
    SD QE 15 14 1 Classroom Classroom 04/27/2024 04/15/2027 SD 381
    TN CE 15 14 1 Classroom Classroom 10/01/2023 10/31/2025 951
    TN QE 15 14 1 Classroom Classroom 10/01/2023 10/31/2025 951
    TX CE 15 14 1 Classroom Classroom 05/03/2024 04/30/2026 TX Provider #:10 Course #:48077
    TX QE 15 14 1 Classroom Classroom 03/25/2023 03/24/2026 TX Provider #: 8038 Course #: 27852
    UT CE 14 14 Classroom Classroom 04/01/2023 03/31/2025 AC230315
    UT QE 15 14 1 Classroom Classroom 01/01/2018 05/31/2025 AQ230526
    VA CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    VA QE 15 14 1 Classroom Classroom 10/01/2023 09/30/2025 4006000473
    VT CE 14 14 Classroom Classroom 02/15/2024 08/31/2025
    VT QE 15 14 1 Classroom Classroom 02/15/2024 08/31/2025
    WA CE 15 14 1 Classroom Classroom 04/18/2024 04/15/2027 A23015549
    WA QE 15 14 1 Classroom Classroom 04/18/2024 04/15/2027 A23015549
    WI CE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    WI QE 15 14 1 Classroom Classroom 04/16/2024 04/15/2027 77113
    WV CE 15 14 1 Classroom Classroom 04/23/2024 04/15/2027
    WV QE 15 14 1 Classroom Classroom 04/23/2024 04/15/2027
    WY CE 14 14 Classroom Classroom 08/31/2021 08/31/2024 1701
    WY QE 15 14 1 Classroom Classroom 08/31/2021 08/31/2024 1702
    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:
    Table of Contents and Overview
    Course Schedule

    Assignments:
    No

    Equipment:

    Additional Information:

    Course Materials Include:

    • Course Handbook (413 pp.)
    • Case Study Booklet (26 pp.)

    You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.

    Prerequisites
    Course Materials & Recommended Books
    Pricing Options
    Rate Full Price AI Price
    Standard
    Today thru 05/31/2024
    $495.00 $395.00
    Late
    After 06/01/2024
    $525.00 $425.00
    Have Exam Questions?
    Additional Course Offerings
    Sponsor Date Location Format
    Appraisal Institute On Demand Online View Details Register
    Appraisal Institute June 10-13, 2024 Synchronous View Details Register
    Tennessee Chapter September 12-13, 2024 Nashville, TN Classroom View Details Register
    Appraisal Institute November 5-8, 2024 Synchronous View Details Register
    Event Information

    * * * * * Please review the entire section below. * * * * *

    It contains IMPORTANT SPECIFIC details about the June offering that you are registering for.



    Location

    Treat Towers
    1255 Treat Boulevard
    First Floor Conference Room
    Walnut Creek, CA  94597


    BART and Onsite Parking 

    • Treat Towers is a quick walk from the Pleasant Hill BART Station
    • Onsite parking is available
      - enter from Buskirk Avenue
      - $9 daily rate (subject to change)
      - no in / out privileges

    • Street parking may also be available; be watchful of any parking restrictions


    Program Hours and Materials
    Onsite check-in will begin at 8:00am on Monday, June 17.  "Live / in-person" Instruction will run from 8:30am – 4:30pm (Pacific Time) Monday, June 17 and from 8:30am – 3:30pm on Tuesday, June 18.  The one-hour exam will be administered at 3:30pm on Tuesday, June 18.  Students will be on their own for lunch; numerous eateries are available within easy walking distance of and onsite at Treat Towers.


    Tips on Downloading the Course Handbook
    Upon registering, students will have access to the downloadable course materials.  Students are strongly encouraged to have pre-printed and/or pre-downloaded the materials.  Do not wait until the day of the course to download as the files are quite large.  

    • Log in to My Account (https://www.appraisalinstitute.org/)
    • Select Education & Events (right sidebar)
    • See list of all offerings, scroll to Residential Site Valuation and Cost Approach and select View
    • You will now see a box that contains downloadable program materials
    • Click link(s) to download:

    • Course Handbook (413 pages)
    • Case Study Booklet (26 pages)


    Ordered Printed Materials or Need Assistance in Downloading? If you (1) have not received your pre-printed materials (must be selected at the time of online registration; extra fees apply for printing and shipping) within 4 weeks of the offering, (2) have any questions or difficulty in accessing / downloading the required electronic course materials 
    contact AI's Education Delivery Department directly at 312-335-4207 or education@appraisalinstitute.org.  


    Required Text

    • None other than the (2) items listed above including the Course Handbook plus the Case Study Booklet. 

    Required 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.

    • Students will need a No. 2 pencil for the exam
    • Students are encouraged to bring extension cords / powerstrips (especially if viewing materials on a laptop)

    Education Credit Hours and Attendance Verifications
    Those who check in late, leave early or are not in attendance during non-scheduled breaks may jeopardize receipt of credit.

    Appraisal Institute: Full attendance (100%) and successful completion of the exam enables Designated Members, Candidates for Designation and Practicing Affiliates to receive 140 AI CEC points; 70 points for full attendance only (no exam). 

    BREA Continuing: Residential Site Valuation and Cost Approach has been approved by the BREA (#05754102) for 14-hours of BREA CEC. Full (100%) attendance required but BREA CEC (continuing education credit) does not require successful completion of the exam.

    BREA Basic/QualifyingResidential Site Valuation and Cost Approach is approved for 15-hours of BREA qualifying education (QE) credit (#05754102with 100% attendance and successful completion of the course exam.


    If you are seeking credit for this offering from a state outside of California, check with your state licensing board(s) to make sure an out-of-state offering will be accepted before registering.  It is best to speak directly with a representative from your board rather than relying on information posted to the web.  Note: Some states outside of California may have additional reporting requirements that the chapter is not able to comply with.


    Attendance Verification Process Effective 10/01/19
    Verified attendance certificates will be available for downloading within 15 working days of the offering

    • Logging into My Account www.appraisalinstitute.org
    • Select EDUCATION
    • Click on the specific offering that you are seeking the certificate for; it will show REGISTERED
    • Scroll to the very bottom of the screen to (1) COMPLETE EVALUATION FORM and (2) RETRIEVE CERTIFICATE

    Note:  Effective 10/01/19 students will be able to access their attendance certificates 24/7 through the Appraisal Institute's netFORUM association management program.  The Northern California Chapter does not have direct access to certificates for programs held after this time. Any issues in retrieving certificates should be brought directly to the attention of the Appraisal Institute's Education Delivery Department at 312/335-4207 or education@appraisalinstitute.org.  

    Confirmation Emails
    All confirmed registrants will receive a payment receipt plus a separate confirmation by email.  Be sure that you can accept emails from each of the following email addresses: 

    Any last minute updates to this offering will most likely be sent from lisa-norcal-ai.org@shared1.ccsend.com (registrants should not send emails to this address).  


    Note: 
     If you do not receive emails on a regular basis from the Northern California Chapter ( lisa-norcal-ai.org@shared1.ccsend.com ) be sure to visit our homepage and sign-up to receive our emails.  Registrants will not want important details like location changes or material downloads defaulting to spam / junk or be classified as undeliverable.  

    • Those who work for financial institutions or government agencies my need to enlist the assistance of their IT Department to insure timely email delivery.


    Accommodations
    The following hotels are within proximity of Treat Towers (Walnut Creek)

    • Embassy Suites (at Pleasant Hill BART) - 925/934-2500 - 1345 Treat Boulevard, Walnut Creek, CA
    • Holiday Inn Express - 925/932-3332 - 2730 N Main St, Walnut Creek, CA
    • Hyatt House - 925/934-3343 - 2611 Contra Costa Blvd, Pleasant Hill, CA

    Click here - for additional lodging options in the Pleasant Hill / Walnut Creek Area

    Some students have also explored options for vrbo and Airbnb.


    Questions? Contact Us
    Northern California Chapter
    925/932-7753 l 916/972-9700
    via email


    CEC Approvals
    Approval outside of California or acceptance of out-of-state providers cannot be guaranteed.  If you are seeking credit for this offering from a state outside of California, check directly with your state licensing board(s) - before registering - to make sure that they will accept credit from an out-of-state provider.  Some states may have special pre-approval or reporting requirements that the chapter is not able to comply with.  Use caution in relying on website approvals as they may not be up-to-date.


    COVID Protocols
    All registrants attending a live-classroom offering do so at their own risk.  Each registrant is individually responsible for being aware of and following state, city and county COVID protocols and guidelines.


    Disclaimers
    By registering for this event, you agree that

    • your attendance may be recorded, photographed, and/or monitored at any time
    • will accept emails from the Northern California Chapter
    • registrants will add this address to their accepted list of emails - lisa-norcal-ai.org@shared1.ccsend.com
    • your contact information may be published in a networking roster
    • we may switch or change locations based on program logistics or necessity
    • if you have a disability and may require special accommodation, please notify us in writing at least two weeks in advance to arrange for reasonable accommodation
    • all registrants attending a live-classroom offering do so at their own risk.  Each registrant is individually responsible for being aware of and following COVID protocols and guidelines


    Lost or Damaged Items
    The Appraisal Institute nor the chapter presenting this program is not liable for lost or damaged items. This includes but is not limited to calculators, laptops, cell phones, etc.


    Cancellations
    Written cancellations received by Monday, June 3 subject to a $50 cancellation fee.  Cancellations received after that time but prior to noon on Monday, June 10, are subject to a $100 cancellation fee.  No refunds for cancellations received after June 10 or for program "no shows".   Cancellations can be emailed to lisa@norcal-ai.org.

    We reserve the right to substitute instructors, or to cancel or modify this program (adjust hours or location) if sufficient registrations are not received by Friday, May 31 or due to other circumstances beyond our control. In the event of cancellation, tuition fees will be refunded. All other costs incurred are the registrant’s responsibility. Those requiring out-of-town travel arrangements should exercise caution in booking non-refundable tickets/reservations.


    Questions? Contact Us
    Northern California Chapter
    925/932-7753 l 916/972-9700
    via email