Real Estate Training Needs Analysis

Chapter 2 - Course Descriptions

APPRAISAL / VALUATION

Appraisal Institute

Course Title: Appraisal Principles

Course Number: Level I, Course 110

Sponsoring Organization: Appraisal Institute

Course Description: Appraisal Principles is the introductory course in the Appraisal Institute's curriculum.It provides an overview of the valuation process and establishes the foundation needed to learn appraisal concepts and procedures.Participants learn what professional appraisers do, how they do it, and the importance of appraisal work.Course 110 also examines the ethical rules and standards that apply to Appraisal Institute members and the level of performance required in preparing appraisal analyses and reports. The course is designed to establish an understanding of basic appraisal judgment and the context in which this judgment is applied.

Content includes the following topic areas:

The professional appraiser and the structure of the Appraisal Institute
Nature of appraisals
Nature of value
Real estate markets
Money markets and capital markets
Data collection and analysis
Neighborhoods and districts
Developing Negotiation Skills
Land or site description
Improvement description
Highest and best use

Target Audience: Beginning appraisers, real estate professionals, users of appraisal services

Attendance Restrictions: Open to all individuals interested in real estate appraisal. An HP-19BII, HP-17BII, HP-12C, or equivalent calculator is required.You must be familiar with its operation when the course begins. See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Course Length: Classroom / Examination Hours-36 classroom hours/3 exam hours. A mandatory orientation session must be scheduled prior to the first class session.

Course Fee: Contact sponsoring chapter for fee information.

Contact Information:
The Information Center
Appraisal Institute
875 Michigan Avenue, Suite 2400
Chicago, IL 60611
Phone: (312) 335-4140
Fax: (312) 335-4222
E-mail: info@appraisalinstitute.org
Web site: www.appraisalinstitute.org

Keywords: Appraisal, valuation

Course Title: Appraisal Procedures

Course Number: Level I - Course 120

Sponsoring Organization: Appraisal Institute

Course Description: Appraisal Procedures is the "nuts and bolts" of appraising property.This intensive lecture and problem-solving course covers the entire valuation process, providing participants with an opportunity to explore the full range of valuation techniques and procedures. Statistical concepts, compounding, and the use of financial calculators are reviewed.Highest and best use analysis and sales comparison and cost approaches are examined in depth.The fundamentals of the income capitalization approach are introduced and direct capitalization techniques are demonstrated.The reconciliation process and the preparation of an appraisal report are also addressed.

The following topics will be covered:

Review of valuation process
Appraisal mathematics
Land or site valuation
Cost and sales comparison approaches
Introduction to income capitalization approach
Reconciliation, final value estimate, and appraisal reporting
Valuation of partial interests

Target Audience: Beginning appraisers who have taken an introductory course in real estate appraisal as well as users of appraisal services who wish to reinforce their understanding of fundamental appraisal theory and procedures.

Attendance Restrictions: Successful completion of Appraisal Institute Course 110, or equivalent educational background, is required.Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it. See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.
Appraisal Institute Continuing Education Credit-Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 39 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 36 Appraisal Institute continuing education credit hours.
A mandatory orientation session must be scheduled prior to the first class session.

Course Length: Classroom/Examination-36 classroom hour/3 exam hours.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Residential Case Study

Course Number: Level I - Course 210

Sponsoring Organization: Appraisal Institute

Course Description: This practical, hands-on course reviews residential appraisal techniques and, using a case study, demonstrates the skills needed by modern residential appraisers.The course takes participants through a residential appraisal from the time the assignment is received to the point at which a value conclusion is reached and the appraiser is ready to complete the appraisal report.The case study is supplemented with problems focusing on individual valuation procedures.The course covers the following topics:

Case study and problems exploring all facets of the valuation process, including:
Observation techniques for field inspections
Area and neighborhood analysis
Site and improvement analysis
Highest and best use
Sales comparison approach
Site valuation
Cost approach
Income capitalization approach

Target Audience: Residential appraiser trainees with a good foundation in appraisal theory.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110 and 120, or equivalent educational background, is required.Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Appraisal Institute Continuing Education Credit-Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 39 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 36 Appraisal Institute continuing education credit hours.

A mandatory orientation session must be scheduled prior to the first class session.

Course Length: Classroom/Examination Hours-36 classroom hours/3 exam hours

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Basic Income Capitalization

Course Number: Level I - Course 310

Sponsoring Organization: Appraisal Institute

Course Description: Through intensive lectures and problem-solving exercises, this course provides participants with an understanding of the mathematical procedures used to analyze data and derive value estimates for income-producing properties.It focuses on the skills needed to solve appraisal problems-e.g., perceiving the significance of the data available, deriving necessary information from data, and interpreting and testing the reasonableness of mathematical conclusions.The theory and applicability of the income capitalization approach are reviewed along with the reasoning and concepts behind yield capitalization formulas.With these tools, overall rates are calculated and applied to derive an indication of market value.

The course covers the following topics:

Income capitalization and income estimation
Direct capitalization
Yield capitalization
Financial functions
Income change and value models
Valuation of lease interests
Cash equivalency
Introduction to risk analysis

Target Audience: General appraiser trainees with a good foundation in appraisal theory.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110 and 120, or equivalent educational background, is required.Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it. See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

A mandatory orientation session must be scheduled prior to the first class session.

Course Length: Classroom/Examination Hours-36 classroom hours/3 exam hours.

Course Fee: Contact sponsoring organization for fee information.

Keywords: Appraisal, valuation

Course Title: General Applications

Course Number: Course 320

Sponsoring Organization: Appraisal Institute

Course Description: Focus on appraisal theory and review applications of appraisal methods and techniques.The valuation process is analyzed in depth.Participants learn the important issues to address when developing a value estimate.Case studies and problems are included to help attendees focus on significant issues and apply the techniques they learn General Applications is designed to give participants an opportunity to apply the appraisal methods, techniques, and procedures presented in Appraisal Principles (Course 110), Appraisal Procedures (Course 120), and Basic Income Capitalization (Course 310).During the course, students identify their strengths and weaknesses during this course.

The course covers the following topics:

Rights in real property
Valuation process
Land description and analysis
Improvement description and analysis
Land or site valuation
Cost approach
Building cost estimates
Depreciation
Sales comparison approach
Income capitalization approach

Target Audience: Appraisers, real estate professionals, users of appraisal services.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, and 310, or equivalent educational background, is required. Participants must have an HP-19BII, HP-17II, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

A mandatory orientation session must be scheduled prior to the first class session.

Course Length: Classroom/Examination Hours-36 classroom hours/3 exam hours.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Apartment Appraisal: Concepts and Applications

Course Number: Level I - Course 330

Sponsoring Organization: Appraisal Institute

Course Description: This practical, two-day course will show you how to apply the valuation methods taught in earlier courses to small and mid-sized apartment properties.Participants will learn the importance of sound market analysis in appraising these properties and how to select the most suitable valuation approaches for each assignment, with emphasis on direct income capitalization.The course material is packed with sources of electronic and conventionally published data on rents, occupancy by market area, and investor expectations as well as pointers on appraisal reporting.A case study in which a completed appraisal is reviewed brings together the concepts covered in class.

The course covers the following topics:

Competitive supply and demand analysis
Highest and best use analysis
Income capitalization, beginning with how to develop a reconstructed operating statement
Sales comparison and cost approaches as applied to apartment appraisal
Case study based on review of an apartment appraisal

Target Audience: General appraisers and residential appraisers with an interest in this property type.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, and 310, or equivalent educational background, is required. Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Appraisal Institute Continuing Education Credit-Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 16 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 15 Appraisal Institute continuing education credit hours.

Course Length: Classroom/Examination Hours-15 classroom hours/1 exam hour.

Course Fee: Contact sponsoring chapter for fee information.

Contact Information:
The Information Center
Appraisal Institute
875 N. Michigan Ave., Ste. 2400
Chicago, IL 60611
Phone: (312) 335-4140
Fax: (312) 335-4200
E-mail: info@appraisalinstitute.org
Website: www.appraisalinstitute.org

Keywords: Appraisal, valuation

Course Title: Advanced Income Capitalization, Level II

Course Number: Course 510

Sponsoring Organization: Appraisal Institute

Course Description: In this course advanced applications of the income capitalization approach are investigated and explored through lectures and homework assignments.Discounted cash flow (DCF) analysis provides the framework for much of the discussion of investment analysis concepts, and an understanding of the relationships among the various components of DCF is emphasized.Financial leverage, risk analysis, and ways to support a discount rate are highlighted.

The course covers the following topics:

Application of concepts
Stabilizing income and yield capitalization (DCF) using an equity yield rate
Review of income capitalization concepts
Estimating cash flows
Investment analysis concepts
Risk analysis
Financial leverage
Yield capitalization (DCF) using an overall yield rate
Supporting the discount rate

Target Audience: General appraisers with a solid background in the income approach.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, 310, and 320, or equivalent educational background, is required. Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Appraisal Institute Continuing Education Credit-Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 40 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 36 Appraisal Institute continuing education credit hours.

Course schedule: A mandatory orientation session must be scheduled prior to the first class session.

Course Length: Classroom/Examination Hours-36 classroom hours/4 exam hours.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Highest and Best Use and Market Analysis

Course Number: Level II - Course 520

Sponsoring Organization: Appraisal Institute

Course Description: Participants learn to apply market analysis to appraisal procedures, with particular emphasis on estimating supply and demand.The course presents market analysis techniques as tools that can be used to increase the reliability of highest and best use analysis and valuation models.Course participants will gain a deeper understanding of the markets in which buyers and sellers interact and learn how to measure the future performance of properties.The course materials provide step-by-step procedures for marketability studies and address situations that arise in an appraiser's daily practice.Other topics include demand analysis for retail, office, and residential properties and absorption and capture rate analysis for use in discounted cash flow analysis.

The course covers the following topics:

Supply and demand concepts
Data gathering techniques
Cash flow analysis
Neighborhood analysis and marketability

Target Audience: Appraisers, real estate professionals, government regulators, appraisal administrators, users of appraisal services, and review appraisers.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, 310, 320, and 510, or equivalent educational background, is required.Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Appraisal Institute Continuing Education Credit: Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 40 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 36 Appraisal Institute continuing education credit hours.

Course schedule: A mandatory orientation session must be scheduled prior to the first class session.

Course Length: Classroom / Examination Hours - 36 classroom hours / 4 exam hours

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Advanced Sales Comparison and Cost Approaches

Course Number: Level II - Course 530

Sponsoring Organization: Appraisal Institute

Course Description: This course provides in-depth instruction in the sales comparison and cost approaches as they are applied to the valuation of income-producing property.Participants explore various ways of determining elements of comparison in the sales comparison approach and various methods to select, measure, and support adjustments, including graphing, pairing, sorting, regression analysis, and nonnumerical, subjective judgments.After reviewing the standard methods of calculation, the course explores alternative applications.Participants learn to conduct quantitative analysis, confirm data, and perform final reconciliation.

The course covers the following topics:

Sales comparison approach
Elements of comparison
Adjustments
Land valuation
Cost approach
Reconciliation

Target Audience: General appraisers with a working knowledge of the three approaches to estimating value.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, 310, 320, 510, and 520, or equivalent educational background, is required.Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Course schedule: A mandatory orientation session must be scheduled prior to the first class session.

Course Length: Classroom / Examination Hours - 36 classroom hours / 4 exam hours.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Advanced Applications

Course Number: Level II - Course 550

Sponsoring Organization: Appraisal Institute

Course Description: Advanced Applications synthesizes the three approaches to value, examines their applications, and helps participants apply the basic and advanced valuation techniques they have learned in previous courses.Rather than rely primarily on lectures, this course lets participants get involved in practical group work on case study assignments.Case studies on office, apartment, subdivision, and industrial properties teach participants to analyze and organize data and choose the appropriate tools to solve appraisal problems.The course emphasizes the need to test the reasonableness of all the conclusions reached in an appraisal. Advanced valuation problems relating to distressed properties and the prospective valuation of proposed properties are addressed.

The course covers the following topics:

Leased fee valuation
Income capitalization approach
Cost approach
Sales comparison approach
Highest and best use analysis
Market analysis

Target Audience: State-certified appraisers and associates who want to improve their ability to apply appraisal methods, techniques, and procedures.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, 310, 320, 510, 520, 530, and 540, or equivalent educational background, is required. Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Course Length: Classroom / Examination Hours - 36 classroom hours / 4 exam hours.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Income Valuation of Small, Mixed-Use Properties

Course Number: Specialty Course 600

Sponsoring Organization: Appraisal Institute

Course Description: Helps participants acquire the tools needed to appraise simple properties that often present complex valuation issues.Through lectures, in-class problems, and two case studies, participants learn how to derive supportable potential gross income multipliers (PGIMs), effective gross income multipliers (EGIMs), and overall capitalization rates for these properties.The relationship between multipliers and ratios is also explored.Participants will walk away from this hands-on learning experience with an understanding of what is required to appraise properties in this niche market.

The course covers the following topics:

Theory of direct capitalization as it applies to small, mixed-use properties
Development of potential and effective gross income estimates
Operating expense analysis
Development of rates and factors used in direct capitalization
Reconciling the findings and various rates and factors used in the income capitalization approach

Target Audience: Residential appraisers with an interest in this property type

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, and 210, or equivalent educational background, is required. Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it.See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Appraisal Institute Continuing Education Credit: Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 16 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 15 Appraisal Institute continuing education credit hours.

Course Length: Classroom/Examination Hours - 15 classroom hours / 1 exam hour.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Sales Comparison Valuation of Small, Mixed-Use Properties

Course Number: Specialty Course 620

Sponsoring Organization: Appraisal Institute

Course Description: Sales Comparison Valuation of Small, Mixed-Use Properties provides residential appraisers with the tools needed to appraise properties with multiple sources of value.The course walks participants through the process of collecting data, selecting the most comparable data, analyzing the data, communicating the analysis, and defending the value conclusion using the sales comparison approach. Participants will learn how to find market support for adjustments and adjust for differences in complex elements of comparison such as parking, land use, and seller financing.After group discussion of a case study that offers hands-on practice in applying the analytical techniques introduced in the course, the class reviews reconciliation, communication skills, and consistency among the approaches.Relevant standards issues are considered throughout the course.

The course covers the following topics:

Sources of value in mixed-use real estate
Appraisal principles and how they relate to mixed-use property
Typical and atypical units of comparison for analyzing mixed-use property
Data collection and verification
Primary and secondary data and their uses
The adjustment process and effective tools for analysis
Qualitative and quantitative issues in reaching a final conclusion

Target Audience: Appraisers, real estate professionals, and users of appraisal services.

Attendance Restrictions: Successful completion of Appraisal Institute Courses 110, 120, and 210, or equivalent educational background, is required. Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it. See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Appraisal Institute Continuing Education Credit: Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 16 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 15 Appraisal Institute continuing education credit hours.

Course Length: Classroom / Examination Hours - 15 classroom hours / 1 exam hour.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Condemnation Appraising: Basic Principles and Applications

Course Number: Specialty Course 710

Sponsoring Organization: Appraisal Institute

Course Description: This two-day course will provide you with an understanding of the eminent domain process, rules and regulations governing condemnation appraisals, and important issues unique to this appraisal specialty.Through the use of lectures, activities, and extensive problem-solving exercises, participants will acquire the tools they need to address issues such as the various valuation rules used by different jurisdictions, the identification and valuation of the larger parcel, and the estimation of damages and benefits.

The course covers the following topics:

Appraising properties acquired by condemnation through eminent domain.
Introduction to the eminent domain environment.
Role of the appraiser
Larger parcel issues
Valuation of the part acquired and the remainder
Legal measurements of just compensation
Analysis of damages and benefits to the remainder

Target Audience: Experienced residential and commercial appraisers who have done little condemnation work but have an interest in condemnation appraising.

Attendance Restrictions: Successful completion of Institute Courses 110 and 120, or equivalent educational background, is required. Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it. See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Appraisal Institute Continuing Education Credit: Under Regulation No. 10 of the Appraisal Institute, full attendance and completion of the examination qualify designated members for 16 Appraisal Institute continuing education credit hours.Attendance only qualifies designated members for 15 Appraisal Institute continuing education credit hours.

Course Length: Classroom / Examination Hours - 15 classroom hours / 1 exam hour.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

Course Title: Condemnation Appraising: Advanced Topics and Applications

Course Number: Specialty Course 720

Sponsoring Organization: Appraisal Institute

Course Description: This two-day course builds on Course 710 and examines advanced applications of appraisal techniques and problem solving in condemnation cases.Participants will gain insight into how courts view various appraisal methodologies and practice preparing exhibits, assisting in the development of a trial strategy, and participating in a mock trial.A case study is presented to simulate the adversarial atmosphere of a condemnation trial.

The course covers the following topics:

Condemnation blight and enhancement
Inverse condemnation
Larger parcel issues
Demonstrative evidence for trial
Measuring damages
General and special benefits
Data verification

Target Audience: Experienced residential and commercial appraisers interested in increasing their expertise and ability to provide services in eminent domain litigation as well as attorneys interested in effective and efficient integration of expert valuation testimony into their trial presentations.

Attendance Restrictions: Successful completion of Appraisal Institute Course 710, or equivalent educational background, is required.Participants must have an HP-19BII, HP-17BII, HP-12C, or equivalent calculator and be able to use it. See our Web site (www.appraisalinstitute.org) for a tutorial on operating HP calculators.

Course Length: Classroom / Examination Hours - 15 classroom hours / 1 exam hour.

Course Fee: Contact sponsoring chapter for fee information.

Keywords: Appraisal, valuation

American Society of Appraisers

Course Title: Appraisal Report Writing

Course Number: ALL215

Sponsoring Organization: American Society of Appraisers

Course Description: This course addresses the difficulties of writing and how to overcome them, the types of writing styles used in appraisal reports, critical thinking skills, argument analysis, and logical fallacies.Examples of good and poor writing are provided, and student writing exercises are included.

Target Audience: Real estate professionals specializing in residential, urban, rural, and ad valorem real estate.

Attendance Restrictions: None

Course Length: 27 classroom hours +3 hour exam.

Course Fee: ASA member - $475, Nonmember - $575

Contact Information:
Patrick L. Christoff, Ed.D., or Sandra K. Stein
555 Herndon Parkway, Suite 125
Herndon, VA 20170
Phone: (800) 272-8258
Fax: (703) 742-8471
E-mail: patrick@appraisers.org
sstein@appraisers.org
Website: www.appraisers.org/

Keywords: Appraisal, valuation

Course Title: Real Property Appraisal Theory, Principles, and Concepts

Course Number: RP201

Sponsoring Organization: American Society of Appraisers

Course Description: Covers general valuation theory and principles, the three approaches to estimating value, steps of the appraisal practice, factors affecting value, land valuation-highest and best use, adjustments and extractions, and property inspection techniques.

Target Audience: Real estate professionals specializing in residential, urban, rural, and ad valorem real estate.

Attendance Restrictions: None

Course Length: 27 classroom hours + 3 hour exam.

Course Fee: ASA member - $375, Nonmember - $475

Keywords: Appraisal, valuation

Course Title: Introduction to Income Capitalization

Course Number: RP202

Sponsoring Organization: American Society of Appraisers

Course Description: Topics include introductory income capitalization, residual analysis techniques, compound interest functions, discounting and annuities, financial statements and ratio analysis, reconstruction of income streams, and income property classification.

Target Audience:Real estate professionals specializing in residential, urban, rural, and ad valorem real estate

Attendance Restrictions: Successful completion of RP201 or equivalent

Course Length:27 classroom hours + 3-hour exam

Course Fee::
ASA member-$375
Nonmember-$475

Contact Information:
Patrick L. Christoff, Ed.D., or Sandra K. Stein
555 Herndon Parkway, Suite 125
Herndon, VA 20170
Phone:(800) 272-8258
Fax:(703) 742-8471
E-mail: patrick@appraisers.org
sstein@appraisers.org
Website: www.appraisers.org

Keywords: Appraisal, valuation

Course Title: Advanced Income Capitalization

Course Number: RP203

Sponsoring Organization: American Society of Appraisers

Course Description: Topics include advanced income capitalization, invested return calculations, leasehold and leased fee valuations, investment analysis, discounted cash flow analysis, valuation of mortgage and equity, and cash equivalency and adjustments.

Target Audience:Real estate professionals specializing in residential, urban, rural, and ad valorem real estate

Attendance Restrictions: Successful completion of RP201 and RP202 or equivalents

Course Length:27 classroom hours + 3-hour exam

Course Fee::
ASA member-$450
Nonmember-$550

Keywords: Appraisal, valuation

Course Title: Urban Case Studies-Part I

Course Number: RP204

Sponsoring Organization: American Society of Appraisers

Course Description: This course uses case studies to examine the market research appraisal report, including components, organization, composition, and supplementary exhibits.

Target Audience:Real estate professionals specializing in residential, urban, rural, and ad valorem real estate

Attendance Restrictions: Successful completion of RP201, RP202, and RP203 or equivalents

Course Length:27 classroom hours + 3-hour exam

Course Fee::
ASA member-$450
Nonmember-$550

Contact Information:
Patrick L. Christoff, Ed.D., or Sandra K. Stein
555 Herndon Parkway, Suite 125
Herndon, VA 20170
Phone:(800) 272-8258
Fax:(703) 742-8471
E-mail: patrick@appraisers.org
sstein@appraisers.org
Website: www.appraisers.org

Keywords: Appraisal, valuation

Course Title: Urban Case Studies-Part 2

Course Number: RP205

Sponsoring Organization: American Society of Appraisers

Course Description: Topics include the written appraisal report, data analysis, adjustment techniques, narrative reports, and form reports.

Target Audience:Real estate professionals specializing in residential, urban, rural, and ad valorem real estate

Attendance Restrictions: Successful completion of RP201, RP202, RP203 and RP204 or equivalents

Course Length:27 classroom hours + 3-hour exam

Course Fee::
ASA member-$450
Nonmember-$550

Contact Information:
Patrick L. Christoff, Ed.D., or Sandra K. Stein
555 Herndon Parkway, Suite 125
Herndon, VA 20170
Phone:(800) 272-8258
Fax:(703) 742-8471
E-mail: patrick@appraisers.org
sstein@appraisers.org
Website: www.appraisers.org

Keywords: Appraisal, valuation

Course Title: Applied Residential Property Valuation

Course Number: RP213

Sponsoring Organization: American Society of Appraisers

Course Description:

This course covers:

Current theories and contemporary interpretations
Techniques in collecting, analyzing, verifying, organizing and interpreting data
Adjustment techniques; quantifying versus qualifying adjustments; the logic and critical reasoning of appraising
Typical single-family residence condominiums, luxury homes, and employee relocation appraisal problems
Theories and applications of AVMs in SFR appraising
The new forms-FNMA's 2050, 2055, 2065, and 2075 and FHMC's 2070.

Target Audience:Real estate professionals specializing in residential, urban, rural, and ad valorem real estate

Attendance Restrictions: Successful completion of RP201 and RP202 or equivalents

Course Length:27 classroom hours + 3-hour exam

Course Fee::
ASA member-$450
Nonmember-$550

Contact Information:
Patrick L. Christoff, Ed.D., or Sandra K. Stein
555 Herndon Parkway, Suite 125
Herndon, VA 20170
Phone:(800) 272-8258
Fax:(703) 742-8471
E-mail: patrick@appraisers.org
sstein@appraisers.org
Website: www.appraisers.org

Keywords: Appraisal, valuation

Course Title: Applied Small Residential Income Property Valuation

Course Number: RP214

Sponsoring Organization: American Society of Appraisers

Course Description: Topics include inspection techniques, lender requirements, market participants, correct adjustment techniques, the three traditional approaches to estimating value, benefits and pitfalls of FNMA form 1025, reconciliation and appropriate addenda, benefits and pitfalls of FHLMC's form 72 (all versions), and a look at FHLMC's forms 71A and 71B.

Target Audience:Real estate professionals specializing in residential, urban, rural, and ad valorem real estate

Attendance Restrictions: Successful completion of RP201 and RP202 or equivalents

Course Length:27 classroom hours + 3-hour exam

Course Fee::
ASA member-$450
Nonmember-$550

Contact Information:
Patrick L. Christoff, Ed.D., or Sandra K. Stein
555 Herndon Parkway, Suite 125
Herndon, VA 20170
Phone:(800) 272-8258
Fax:(703) 742-8471
E-mail: patrick@appraisers.org
sstein@appraisers.org
Website: www.appraisers.org

Keywords: Appraisal, valuation

Course Title: Forensic Real Property Appraising

Course Number: RP302

Sponsoring Organization: American Society of Appraisers

Course Description: Participants learn how to perform litigation-related valuation assignments and litigation support, how to write contracts for appraisal services, and how to manage their relationship with clients and counsel.The seminar covers this specialty from appraiser qualifications and marketing to special reporting guidelines and the rules of evidence.Topics include court testimony, report preparation, depositions, and interrogatories.

Target Audience:Real estate professionals specializing in residential, urban, rural, and ad valorem real estate

Attendance Restrictions: None

Course Length:7 hours

Course Fee::
None

Contact Information:
Patrick L. Christoff, Ed.D., or Sandra K. Stein
555 Herndon Parkway, Suite 125
Herndon, VA 20170
Phone:(800) 272-8258
Fax:(703) 742-8471
E-mail: patrick@appraisers.org
sstein@appraisers.org
Website: www.appraisers.org

Keywords: Appraisal, valuation

American Society of Farm Managers and Rural Appraisers

Course Title: Fundamentals of Rural Appraisal

Course Number: A-10

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: This course offers a comprehensive introduction to rural appraising by covering the basic concepts, principles, procedures, and valuation process.For individuals new to rural appraisal, the course explains what professional rural appraisers do, the procedures they follow, and the level of performance required in conducting the appraisal.Examples, problems, and case studies are used to make a connection between the theoretical side of appraisal economics and the practical side of the market and the appraisal process.Course work progresses from basic theories of property and markets to the comprehensive appraisal report.Participants will develop an understanding of depreciation, income capitalization, analysis, and comparison processes.

Target Audience:Anyone interested in rural real estate appraisal

Attendance Restrictions: None. This is a beginner skill-level course.

Course Length:42 hours

Course Fee::
ASFMRA member-$495
Nonmember-$660
Site fee-$80

Contact Information: Please refer to the Web site for updated information: www.asfmra.org or contact:
Mary Elster
950 South Cherry Street, Suite 508
Denver, CO 80246-2664
Phone:(303) 758-3513
Fax:(303) 758-0190
E-mail: asfmra@agri-associations.org

Website: www.asfmra.org

Keywords: Appraisal, valuation

Course Title: Fundamentals of Rural Appraisal (Internet Course)

Course Number: A-10INT

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: This course offers a comprehensive introduction to rural appraising by covering the basic concepts, principles, procedures, and valuation process.For individuals who are new to rural appraisal, the course explains what professional rural appraisers do, the procedures they follow, and the level of performance required in conducting the appraisal.Examples, problems, and case studies are used to make a connection between the theoretical side of appraisal economics and the practical side of the market and the appraisal process.Course work progresses from basic theories of property and markets to the comprehensive appraisal report.Participants will develop an understanding of depreciation, income capitalization, sales analysis, and comparison processes.

Target Audience:Anyone interested in rural real estate appraisal

Attendance Restrictions: None. This is a beginner skill-level course.

Course Length:15 weeks

Course Fee::
ASFMRA-$500
Nonmember-$650

Keywords: Appraisal, valuation

Course Title: ASFMRA Code of Ethics

Course Number: A-12

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: This course is devoted exclusively to the discussion of the Code of Ethics of the ASFMRA Articles 1-15.The course concludes with a written examination and may be taken alone or in conjunction with Part II.Completion of this course will satisfy American Society of Farm Managers and Rural Appraisers (ASFMRA) ethics requirements for the ARA and RPRA designations.ASFMRA appraisal members are required to take Part I every 9 years.Topics include ASFMRA Ethics and Bylaws Articles 1-15, history of the ASFMRA, relationship of the Code of Ethics to the Uniform Standards of Professional Appraisal Practice (USPAP), and summary of enforcement procedures.

Target Audience:Real estate appraisal professionals

Attendance Restrictions: None, but A-10 is recommended.

Course Length:7 hours + 1-hour exam

Course Fee::
ASFMRA member-$115 Nonmember-$160
Site fee-$20

Keywords: Appraisal, valuation

Course Title: Principles of Rural Appraisal

Course Number: A-20

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: Building on basic appraisal concepts, participants explore the practical application of the appraisal process.Course lectures are supplemented with a case study.This course is a natural progression for individuals who have completed A-10, Fundamentals of Rural Appraisal, and want to focus on the skills needed to solve rural appraisal problems.These skills include data analysis, application of proper methods to derive essential information from the data, and the interpretation and examination of the soundness of the mathematical conclusions.This course is also suggested for rural appraisers interested in updating their knowledge of the recommended methods and techniques used to prepare a contemporary rural appraisal report.The course reviews appraisal concepts, expands on practical applications of the three approaches to value, and addresses the calculation of discounts for favorable financing (cash equivalency).Topics include annuity capitalization, income approach, sales comparison approach, direct and straight-line capitalization, cash equivalency, depreciation, market abstraction, and cost approach.

Target Audience:Appraisal professionals

Attendance Restrictions: Completion of A-10 or American Society of Appraisers (ASA) RP201

Course Length:40 hours + 4-hour exam

Course Fee::
ASFMRA or ASA member-$530
Nonmember-$700
Site fee-$80

Contact Information:Mary Elster 950 South Cherry Street, Suite 508 Denver, CO 80246-2664 Phone:(303) 758-3513 Fax:(303) 758-0190 E-mail: asfmra@agri-associations.org

Website: www.asfmra.org

Keywords: Appraisal, valuation

Course Title: Principles of Rural Appraisal

Course Number: A-20

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Target Audience:Appraisal professionals

Attendance Restrictions: Completion of A-10 or American Society of Appraisers (ASA) RP201

Course Length:40 hours + 4-hour exam

Course Fee::
ASFMRA or ASA member-$530
Nonmember-$700
Site fee-$80

Contact Information:Mary Elster
950 South Cherry Street, Suite 508
Denver, CO 80246-2664
Phone:(303) 758-3513
Fax:(303) 758-0190
E-mail: asfmra@agri-associations.org

Website: www.asfmra.org

Keywords: Appraisal, valuation

Course Title: Highest and Best Use

Course Number: A-29

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: The goal of this course is to provide a forum for analysis and discussion of the impacts on the highest and best use of rural real estate.The course provides a review of the basics of the principle of highest and best use, including some of the most elemental concepts of the appraisal process.This review provides a foundation for the application of the tests required to determine ultimate highest and best use: legally permissible uses, physically possible uses, financially feasible uses, and maximally productive uses.Students apply the concepts and techniques used to complete a highest and best use analysis to a series of drill problems and case studies designed to provide practical application of appraisal theory.In addition, a forum for the discussion of theory and how to apply it to the practical day-to-day world of rural appraisal is provided with other appraisers possessing similar levels of experience and expertise.

Topics include appraisal concepts, appraisal and economic principles, factors of value, Uniform Standards of Professional Appraisal Practice (USPAP) standards affecting highest and best use, legally permissible uses, physically possible uses, financially feasible uses, maximally productive uses, single use, special purpose uses, nonconforming uses, excess land, multiple uses, concurrent uses, testing use conclusions, interim use, transitional use and property in transition, and the highest and best use statement as it appears in the narrative appraisal report.The drill problems include exercises drawn from other course work, including A-10 and A-20, as well as some advanced problems designed to stimulate the learning process.The case studies are all highest and best use sections taken from actual appraisal reports and are designed to stimulate class discussion.Examples include conservation easements and highest and best use of wetlands and property affected by wetlands.

Target Audience:This course is considered to be at an intermediate level and is designed for those appraisers having considerable experience in appraising rural real estate or for those who have completed the first two levels of core courses offered by the American Society of Farm Managers and Rural Appraisers.

Attendance Restrictions: This is an intermediate skill-level course. Completion of A-10 or American Society of Appraisers RP201 and A-20 or equivalent is required.

Course Length:15 hours + 1-hour exam

Course Fee::
ASFMRA member-$225
Nonmember-$300
Site fee-$40

Contact Information:Please refer to Web site for updated information: www.asfmra.org or contact:
Mary Elster
950 South Cherry Street, Suite 508
Denver, CO 80246-2664
Phone:(303) 758-3513
Fax:(303) 758-0190
E-mail: asfmra@agri-associations.org

Website: www.asfmra.org

Keywords: Appraisal, valuation

Course Title: Advanced Rural Appraisal

Course Number: A-30

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: A thorough and comprehensive review of the appraisal process, plus advanced rural valuation techniques covering a wide array of property types, is presented.This course brings together all advanced rural techniques and includes a narrative case study.This course is a necessity for practicing and/or reviewing appraisers.The course enhances appraisal technique by emphasizing market abstraction for components used in all three approaches to value; analyzes leases (leasehold/ leased-fee); advances income concepts such as discounted cash flow analysis, solving for internal rates of return and equity dividend rates, and enhances technical skills; emphasizes application of techniques using problems and a working case study; and presents advanced application of depreciation, capitalization, and market derived adjustments.

Topics include cost approach-breakdown of depreciation into physical, functional, and external components; income approach-band of investment; gross income multipliers; gross rent multipliers; discounted cash flow; internal rates of return; lease analysis; and advanced application of the sales comparison approach.There is a "hands-on" full-day case study using the three approaches to value

Target Audience:Practicing and/or reviewing appraisers

Attendance Restrictions: This is an advanced skill-level course. Completion of A-10 or American Society of Appraisers (ASA) RP201, A-20, A-25, A-27 or ASA RP202, and A-29 or equivalent is required.

Course Length:43.5 hours + 4-hour exam

Course Fee::
ASFMRA or ASA member-$550
Nonmember-$725
Site fee-$80

Keywords: Appraisal, valuation

Course Title: Advanced Resource Appraisal

Course Number: A-34

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: This is an intermediate to advanced course designed to apply valuation techniques learned in A-20 and A-30 to properties that include mineral rights, water rights, and/or timber rights.The course differentiates between these rights but also identifies similarities whereby the basic valuation processes can be applied. Sales analysis techniques include land allocation by direct component comparison and ratio techniques.Paired sales, direct sale comparison, ratio analysis, and discounted cash flow applications are demonstrated in the course.

Three case studies are used to illustrate the valuation of natural resources (minerals, water, and timber).The minerals section contains segments that consistently apply the appraisal theory and procedures to elements such as surface mining (sand, gravel, coal, precious metals, specialty clays, etc.) and drill problems covering similar situations for underground mining (oil, gas, etc.).The water section deals with commercial and recreational applications, split estates, and ownership.The timber section includes discussion of pre-merchantable and merchantable timber.Timber, mineral deposits, and water rights are uniformly analyzed to demonstrate common valuation processes applicable to otherwise unique and complex properties.The course covers complete sales analysis; cost approach, including advanced depreciation; income approach, including direct capitalization, discounting, rate extraction, and discounted cash flow analysis; and sales comparison approach, including all aspects of pairings, adjustments, multipliers, and alternative units of comparison.

Target Audience:Appraisal professionals

Attendance Restrictions: This is an advanced skill-level course. Completion of A-10 or American Society of Appraisers (ASA) RP201, A-20, A-25, A-27 or ASA RP202, A-29, and A-30 or equivalent is required.

Course Length:42.5 hours + 4-hour exam

Course Fee::
ASFMRA member-$560
Nonmember-$725
Site fee-$80

Keywords: Appraisal, valuation

Course Title: Advanced Appraisal Review

Course Number: A-35

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: This is a "technical" review course demonstrating the interrelationships of the appraisal process; commercial, residential, and agricultural narrative and form appraisal reports are included.It covers the process of formally defining the responsibilities of a reviewer, the steps to a formal review, the minimum educational and experience requirements for a reviewer, the reviewer's role in the process, and the reviewer's reporting requirements.Independent fee appraisers will benefit greatly from taking this course.Through a better understanding of the review process, the fee appraiser can prepare appraisals that are more readily acceptable by the reviewer.This course is based on Standard III of the Uniform Standards of Professional Appraisal Practice (USPAP), which states that the "technical" review appraiser is responsible for preparing a separate report setting forth the results of the review process.Thus, this course begins with coverage of Standards 1, 2, and 3 of USPAP-inclusive of the Competency and Departure Provisions.The Appraisal Education Committee of the American Society of Farm Managers and Rural Appraisers (ASFMRA) believes an understanding of the Uniform Standards is essential for background and required performance of the review appraiser.

The course material provides for hands-on review of appraisals of at least seven different properties, ranging from agricultural to transitional, developmental, residential, and income commercial properties.

Topics include:

History and need for appraisal reviews
Requirements for appraisal review process
Review appraiser-role, minimum qualifications, limitations, and final obligations
Review report writing, procedure and methods of review
Use of the SARR, UAAR, URAR, and FMHA rural forms
Divergence resolution
Common deficiencies and errors
Purpose of The Appraisal Foundation.

Target Audience:Government and State agency reviewers, reviewers for federally funded programs and various lending institutions

Attendance Restrictions: This is an advanced skill-level course. Completion of A-10 or American Society of Appraisers (ASA) RP201, A-20, A-25, A-27 or ASA RP202, A-28 or ASA RP203, A-29, and A-30 or equivalent is required. Attendees should read Capitalization Theory and Techniques, Study Guide and have a working knowledge of lessons 1 through 10. Students must be conversant with proportional land mix analysis.
Materials: HP-12C, HP-17BII, or HP-19BII; Rural Appraisal Manual, eighth edition; Capitalization Theory and Techniques, Study Guide.

Course Length:45 hours + 5-hour exam

Course Fee::
ASFMRA member-$590
Nonmember-$775
Site fee-$80

Keywords: Appraisal, valuation

Course Title: Advanced Rural Case Studies

Course Number: A-40

Sponsoring Organization: American Society of Farm Managers and Rural Appraisers

Course Description: The purpose of this course is to help participants apply appraisal principles and analytical techniques to rural appraisal problems.Specialized property types are used to emphasize different parts of the appraisal process.The advanced applications include the breakdown method of depreciation, development cost, yield rate extraction, discounted cash flow analysis, and applications for data analysis.The class divides into small groups to analyze and solve case studies.Drill problems that focus on individual appraisal procedures supplement the case study material.This course was developed as a joint effort between the American Society of Farm Managers and Rural Appraisers (ASFMRA) and the Appraisal Institute.

The course concentrates on advanced valuation procedures using four case studies--typical rural property, building-intensive property (dairy), a rural subdivision, and a permanent planting (orchard).These case studies are analyzed to illustrate advanced cost and depreciation, cash flows, advanced income techniques, proportional and trend analysis.The course also deals with statistics, bracketing, property description, highest and best use, site values, reconciliation and final value estimates.

Target Audience:Appraisal professionals

Attendance Restrictions: This is an advanced skill-level course. Students should have completed A-10 or RP201 through A-30, or have equivalent background including Appraisal Institute courses 110 Appraisal Principles, 120 Appraisal Procedures, 310 Basic Income Capitalization, and 320 General Applications.Those students who have not completed A-20 and A-30, and are not conversant with proportional land mix analysis, must read "Sales Analysis" (Section 6) of the Rural Appraisal Manual before beginning the course.

Course Length:48 hours + 4-hour exam

Course Fee::
ASFMRA /Appraisal Institute members or affiliate-$590
All others-$775
Site fee-$80

Keywords: Appraisal, valuation

Federal Highway Administration/Office of Real Estate Services

Course Title: Real Estate Appraisal Workshop:Uniform Standards of Professional Appraisal Practices and the Uniform Act

Course Number: 141037 (Technical Assistance)

Sponsoring Organization: Federal Highway Association/Office of Real Estate Services

Course Description: A one-day technical assistance workshop, customized to meet the local needs of each audience.An FHWA program office representative discusses the real versus the often-perceived differences between government appraisal requirements (Uniform Act and 4 CFR) and the Uniforms Standards of Professional Appraisal Practices (USPAP).This workshop covers how government-required appraisal services can be performed by State certified and licensed appraisers and remain in conformance with USPAP.

Target Audience:State Highway Agencies, Local Public, Right of Way Consultants

Attendance Restrictions: None

Course Length:1 Day

Course Fee:: No fee if provided by the Federal Highway Administration Division.
$700 with 1 FHWA Staff Instructor

Contact Information: Bryan O'Neill
Office of Real Estate Services
Federal Highway Administration
U.S. Department of Transportation
400 7th St. SW Suite 3221
Washington, DC 20590
Phone:(202) 366-9881
Fax: (202) 366-3713
E-mail: Bryan.O'Neill@fhwa.dot.gov

Website: www.fhwa.dot.gov/realestate

Keywords: Appraisal, valuation

Course Title: Real Estate Appraisal Review Workshop

Course Number: 141038 (Technical Assistance)

Sponsoring Organization: Federal Highway Administration Office of Real Estate Services

Course Description: A two-day technical assistance workshop, customized to meet the local needs of each audience.The focus is on the role of the review appraiser in a public agency which acquires real property I conformance with Federal and State law, policies and procedures.Discussion centers on two general areas; (1) consistency with, and divergence between the Uniform Act and 49 CFR, and USPAP, and (2) practical application of appraisal review techniques and "best practices."The discussion topics may include a wide range of issues which government review appraisers face in the performance of their duties; agency policy, appraisal management, data analysis, communicating, involvement as part of the management team, valuation consistency, litigation, and others.The sessions are typically conducted by a team of two FHWA program office representatives.

Target Audience:State Highway Agencies, Local Public, Right of Way Consultants

Attendance Restrictions: None

Course Length:1 or 2 Days

Course Fee:: $700 (1 Day with 1 FHWA Staff Instructor)
$850 (2 Days with 1 FHWA Staff Instructor)

Keywords: Appraisal, valuation

International Right of Way Association

Course Title: Principles of Real Estate Appraisal

Course Number: 400

Sponsoring Organization: International Right of Way Association

Course Description: This course introduces the principles of real estate and real property valuation.It is also a refresher course for the experienced right-of-way professional who would like to enhance his/her appraisal abilities.Topics include types and uses of appraisals, types of value, economic principles, the appraisal process, market analysis, area and site analysis, highest and best use analysis, sales comparison approach, cost approach, income approach, reconciliation and final value determination, and an introduction to partial acquisitions.

Target Audience:This course is designed for new appraisers and those interested in entering the appraisal field who need a basic course.This is also a good course for those wanting an overview on appraisal fundamentals.

Attendance Restrictions: None

Course Length:2 Days

Course Fee:: Member-$295
Nonmember-$385

Contact Information: Connie Sanchez
Senior Course Coordinator
IRWA Headquarters
Pacifica Harbor Business Center #220
Torrance, CA 90502-1144
Phone:(310) 538-0233
Fax:(310) 538-1471
E-mail: sanchez@irwaonline.org
education@irwaonline.org
Website: www.irwaonline.org

Keywords: Appraisal, valuation

Course Title: Appraisal of Partial Acquisitions

Course Number: 401

Sponsoring Organization: International Right of Way Association

Course Description: This how-to, hands-on application course deals with special problems involved with the evaluation of partial takings (fee and easement).Students learn about various accepted appraisal methods and how to select the most appropriate for a given situation.Topics include valuation of the larger parcel, two approaches to right-of-way valuation, techniques for valuation of the part acquired, damages/diminution to the remainder, special benefits, and the appraiser as expert witness.Numerous case studies and problems are solved by the student to highlight the course material.

Target Audience:This course is for those who already have a good understanding of basic appraisal applications but want learning experiences that will enable them to perform better in real situations.

Attendance Restrictions: Successful completion of 101A/400

Course Length:5 days

Course Fee:: Member-$555
Nonmember-$725

Keywords: Appraisal, valuation

Course Title: Introduction to the Income Capitalization Approach

Course Number: 402

Sponsoring Organization: International Right of Way Association

Course Description: Introduces the income capitalization approach to appraisal in a concise, easy-to-understand format.With a combination of lecture and case studies, this intensive course teaches students to apply the approach in a variety of situations.Topics include valuation process, income capitalization approach, direct and yield capitalization, and components of direct capitalization.

Target Audience:An advanced course for those wishing to understand income capitalization for appraising

Attendance Restrictions: Successful completion of 101A

Course Length:1 day

Course Fee:: Member-$230
Nonmember-$300

Keywords: Appraisal, valuation

Course Title: Easement Valuation

Course Number: 403

Sponsoring Organization: International Right of Way Association

Course Description: This is a practical, hands-on course that presents specific methods and procedures by which to measure and value property before and after an encumbrance, as well as damages, if any result.Topics include how to value the whole and the part taken; ways to measure severance damages; and how to measure construction damages, if any result.

Target Audience:Those who want to know how to measure and value property with respect to encumbrance

Attendance Restrictions: None

Course Length:1 day

Course Fee:: Member-$230
Nonmember-$299

Keywords: Appraisal, valuation

Course Title: Appraisal Theory and Principles

Course Number: 404

Sponsoring Organization: International Right of Way Association

Course Description: This course emphasizes skills required for preparing appraisal reports for governmental agencies and public or quasi-public companies.Students perform analysis and calculations required for each approach to value.Topics include introduction to appraisals and appraising, appraisal reports, nature and importance of value, legal considerations in appraising, principles of valuation, understanding real estate markets, impact of financing, valuation process, data collection and analysis, area and neighborhood analysis, property analysis, highest and best use analysis, site comparison approach, site valuation, cost approach, income approach, reconciliation, final value estimate, valuation of partial interests, and condemnation appraisals.The course begins with an introduction on Sunday evening and runs Monday through Friday; the exam is administered on Saturday morning.

Target Audience:Right-of-way and real estate professionals interested in entering the appraisal field, or non-appraisers who want to gain an increased understanding of appraisal or valuation theory and principles

Attendance Restrictions: Successful completion of Course 101, or equivalent experience.

Course Length:6 days

Course Fee:: Member-$560
Nonmember-$725

Keywords: Appraisal, valuation

Course Title: Valuation of Contaminated Property

Course Number: 407

Sponsoring Organization: International Right of Way Association

Course Description: Focusing on properties that have been contaminated by toxic waste, this course presents appraisal techniques enabling students to address contamination issues that affect real estate and the valuation of real property, methodologies appropriate to appraise impacted properties, reference sources that deal with environmental issues, and eminent domain.Topics include valuation framework used in appraising contaminated properties, contamination versus conservation, examples and categories of contaminated properties, environmental site assessments, relationship between technical and valuation teams, and valuation of contaminated properties.

Target Audience:Those wanting to learn how to appraise property that has been contaminated by toxic waste

Attendance Restrictions: None

Course Length:1 day

Course Fee:: Member-$215
Nonmember-$280

Keywords: Appraisal, valuation

National Association of Independent Fee Appraisers

Course Title: Principles of Residential Real Estate Appraising

Course Number: 1.1

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This four-day course is designed to provide a comprehensive view of the significance of the role and responsibilities of the appraiser. The factors creating and affecting value will be demonstrated as well as the practical applications of the real-estate values that affect value and that are critical in solving realty valuation problems. The appraisal process, the flow chart for valuation, will be covered in detail with class members solving verbal and mathematical valuation problems.Class participation is encouraged. Types of appraisals and report formats will be discussed.The class will complete a case study, providing an opportunity to put theory into practice.The NAIFA member examination will be given at the end of the course. Students must pass the examination to receive a certificate of completion.

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:30 hours

Course Fee:: $542

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Principles Review

Course Number: 1.1A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to review the principles and how they affect real estate.The course will also cover value (factors and forces) and bundle of rights.Testing will be optional.

Course content includes:

Value: defined, factors
Real-estate principles
Bundle of rights
Limitations on ownership

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Residential Real Estate Appraising-or its equivalent.

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Dissection of a Residential Appraisal Report

Course Number: 1.1B

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed as a hands-on program to help appraisers, reviewers and loan underwriters identify mathematical, conceptual, technical and logic inconsistencies in an appraisal report.The program is based on the premise that the identification of incorrect procedures and entries is the foundation for learning how to complete a report without those deficiencies. More than 75 percent of the class time will be spent working on case studies and completing mental exercises.Inappropriate report entries, common errors, clients' responsibilities, Fannie Mae guidelines, USPAP violations and FIRREA implications applicable to each section of the report will be discussed briefly and then be reinforced by extensive class participation. Testing will be optional.

Course content includes:

Inconsistencies in an appraisal report
Inappropriate report entries Common errors
Clients' responsibilities
Fannie Mae guidelines
USPAP violations
Identifying adjustments

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Residential Real Estate Appraising or its equivalent.

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Market Data Analysis of Residential Real Estate Appraising

Course Number: 1.2

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course has been designed to teach the students how to prove adjustments by market abstraction, by calculating depreciation and by completing the URAR Single Family Report. The course is designed around classroom problems and a working manual.Students must pass the examination given at the end of the course to receive a certificate of completion.

Contents of this course include:

Introduction to market abstraction
Case studies applying the mathematics of proving adjustments
Methods applied in supporting dollar adjustments of depreciation
Market abstraction of depreciation cost, contributory value and appreciation
Isolation of depreciation by the income approach
Review of appraisal principles and terminology
The step-by-step process for completing the URAR Single Family Residential Report Form

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:30 hours

Course Fee:: $496

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Market Abstraction Review

Course Number: 1.2A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is a review of market abstraction methods. Students will review basic definitions as well as work market abstraction problems to determine adjustments in the market section.The course requires the use of a financial calculator.Testing will be optional.

Course contents include:

Case studies applying the mathematics of proving adjustments
Market abstraction of depreciation

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Residential Real Estate Appraising and Market Data Analysis of Residential Real Estate Appraising-or their equivalents.

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Home Inspections: Common Defects in Homes

Course Number: 1.3D

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to teach appraisers how to recognize the presence of environmental concerns in homes, including radon, asbestos and underground storage tanks; how to recognize easily identifiable code violations, including structural, plumbing, electrical and mechanical violations; and how to recognize common defects in homes, including the exterior, interior and major systems.Testing will be optional.

Course content includes:

Common defects in homes.
Basic code violations: structural, plumbing, electrical, mechanical
Environmental concerns: radon, asbestos, underground storage tanks

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Report Writing of Residential Real Estate Appraising

Course Number: 1.4

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course has been designed to teach the students how to complete real-estate appraisal reports.The class will learn the steps for completing narrative reports, relocation reports and condominium reports as well as the steps for review appraising. Students must pass the examination given at the end of the course to receive a certificate of completion.

Course content includes:

Review of Code of Ethics as applied to appraisals
Practices, standards and rules for writing appraisal reports
Definitions
Step-by-step instructions for narrative reports
Review of procedural guidelines for relocation appraisals
Review E-R-C Appraisal Report Form
Common errors in relocation-appraisal reports
Background and history of condominiums
Formation and declaration of condominiums
Appraisal assignments: types of values
Appraisal examples
Use of review-appraisal assignment check sheet for short forms and narrative reports
Review of URAR Form #1004
Outline in quality control of form appraisal reports

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:30 hours

Course Fee:: $526

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Report Writing--Non-Residential

Course Number: 1.4B

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: Students will learn step by step how to put together a commercial narrative appraisal report.The course will introduce income terminology & proper use of income/operating statements.

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Residential Analysis for Small Income Property Appraisals

Course Number: 1.5

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed as an extension of capitalization and techniques as used by residential appraisers.Students will learn more about income capitalization and the compound interest concepts, including the six functions of a dollar.A review of the appraisal process and the basic principles will focus on the related study of small residential income properties and investor objectives.Testing will be optional.

The course content includes:

Review of appraisal process
Discussion of economic principles, theories & assumptions
Investor objectives
Appraisal forms
Highest and best use
Income and expense statements
Appraisal math: six functions of a dollar
Income capitalization techniques

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Residential Real Estate Appraising-or its equivalent.

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Small Income Property Appraisals

Course Number: 1.5A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to introduce residential appraisers to a variety of complex residential properties that may require using the income approach rather than the sales comparison approach to value.Many properties may be zoned for residential use as well as other permitted uses; for example, offices, retail outlets and apartments or condominiums may co-exist on the same property.The class will cover many types of properties, including a doctor's office combined with apartments, a six-family residential apartment house and a one-family residence with an accessory building that is legally used as an on-site delicatessen with one boarding unit. Testing will be optional.

Course topics include:

Determining the type of essential data needed.
Analyzing highest and best use of the land and improvements
Preparing income and expense statements
Applying the appropriate valuation approaches
Capitalizing income to value

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Residential Real Estate Appraising-or its equivalent.

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Testing Highest and Best Use

Course Number: 1.6

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course has been designed to analyze the property "as if vacant" and "as if improved" with the greater emphasis given to the most profitable use.Case studies include single-family analysis as well as small income property examples.Appraisers will also analyze when an existing property must be rehabilitated, modernized or remodeled to produce the maximum profit at highest and best use.Testing will be required.The content of this course includes applied economic theory, USPAP rulings, the theory of highest and best use, consistent-use theory, narrative formats, and Case studies.

Target Audience:Real estate professionals

Attendance Restrictions: none

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Financial Analysis of Income Properties

Course Number: 2.0

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course has been designed to teach the students how to use the HP 12C calculator and how to understand the mathematics of appraising.Instruction on the HP 12C financial calculator will cover everything from simple calculations to wraparound mortgages.Students should take this course before the capitalization courses.Students must pass the examination given at the end of the course to receive a certificate of completion.

Course content includes:

Appraisal methods of the income approach
Interrelationships of the basic functions
Factors as multipliers and dividers
Present worth of annuities, leased fees and leasehold interest
Mortgage analysis and cash equivalents
Mortgage equity
Simple calculations
Storage functions
Amortization: payments
Amortization schedules: payments
Mortgage constants
Increase NOI: sales price
IRR explanation
Discounted mortgages, wraparound mortgages

Target Audience:Real estate professionals

Attendance Restrictions: none

Course Length:8 hours

Course Fee:: $288

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Financial Analysis of Income Properties Using Discounted Cash Flow Analysis

Course Number: 2.0A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This one-day course is designed as a continuation of 2.0 Financial Analysis of Income Properties.Particular emphasis will be put on leases, internal rates of return and net present values and their interrelationships. Testing will be optional.

The content of this course includes:

Review of 2.0 course
Interrelationships of the six functions of a dollar
IRR of even cash flows
IRR of uneven cash flows
NPV of various leases, including graduated leases

Target Audience:Real estate professionals

Attendance Restrictions: Financial Analysis of Income Properties-or its equivalent.

Course Length:8 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Introduction to Income Property Appraising

Course Number: 2.1

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to introduce students to the appraisal of properties designed to be rented to tenants.During the course, students will process the income from such properties, develop reconstructed income statements, identify and use the elements of comparison for various types of properties to obtain indications of value, apply direct capitalization and develop capitalization rates using various methods of recapture.The first part of the senior member examination will be given at the end of this course. Students must pass this examination to receive a certificate of completion.

The contents of this course include:

Processing income
Using the sales comparison approach to value
Developing capitalization rates
Applying the six functions of a dollar
Applying the building residual technique to property valuation and estimation of depreciation
Applying the land residual technique as a method of forming an opinion of highest and best use

Target Audience:Real estate professionals

Attendance Restrictions: Financial Analysis of Income Properties-or its equivalent

Course Length:30 hours

Course Fee:: $516

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Basic Commercial Review/VIM and IRV Review

Course Number: 2.1 A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed as a review of the process of the basic income approach using VIM with residential and small income properties as well as a review of IRV and processing income. Testing will be optional.

Courses content includes:

VIM: finding the multiplier
IRV: finding the rate
Rate development

Target Audience:Real estate professionals

Attendance Restrictions: Financial Analysis of Income Properties and Introduction to Income Property Appraising-or its equivalent.

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Techniques of Income Property Appraising

Course Number: 2.2

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to introduce students to the techniques of the appraisal of properties designed to be rented to tenants. During the course, students will value leased fee and leasehold estates and use discounted cash flow analyses, mortgage-equity analyses and statistical evaluation of data including linear regression.The second part of the senior member examination will be given at the end of the course.Students must pass this examination to receive a certificate of completion.

The contents of this course include:

Valuation of partial interests
Discounted cash flow analyses
Mortgage-equity analyses
Statistical analysis of appraisal data
Linear regression

Target Audience:Real estate professionals

Attendance Restrictions: Introduction to Income Property Appraising-or its equivalent

Course Length:30 hours

Course Fee:: $516

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Condemnation Appraising

Course Number: 2.3

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This two-day course is an introduction to condemnation appraising.It also provides an overview of other real-estate valuation problems that might result in litigation.The course is valuable to all real-estate professionals involved with assignments that might require testimony in court.Students will be taught how to do condemnation appraisals that meet the Uniform Appraisal Standards for Federal Land Acquisitions as well as local laws and procedures and that are in accordance with the Uniform Standards of Professional Appraisal Practice.This course has been proved valuable to attorneys, government agency officers and other officials who must deal with condemnation.This is an appraisal course, not a law course.Students must pass the examination given at the end of the course to receive a certificate of completion.

The content of this course includes:

Appraisal concepts in condemnation
Introduction to the before and after process
Condemnation appraisal report, formats
Attorney explains the fundamentals (video)
Federal and state condemnation procedures
Process of taking private property
Case studies and class problems
Larger parcel concepts
Valuation concepts in condemnation
Understanding the "Uniform Act"
Relationships: appraiser/attorney or client
This property is condemned (video)
Takes: total or partial
Damages: subjective or objective
Easement valuation, terminology

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Residential Real Estate Appraising, Market Data Analysis of Residential Real Estate Appraising, Introduction to Income Property Appraising, Techniques of Income Property Appraising - or their equivalents.

Course Length:15 hours

Course Fee:: $313

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Litigation Valuation: The Appraiser's Role as an Expert Witness

Course Number: 2.3A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to prepare appraisers to communicate their appraisal reports effectively in court and to minimize the apprehension of appearing in course as a witness.Students will learn the basic courtroom fundamentals, terminology and procedures to become capable of defending their services as appraisers or consultants.Students must pass the examination given at the end of the course to receive a certificate of completion.

The content of this course includes:

Terminology
Uniform Standards of Professional Appraisal Practice
Preparation of Report Writing
Handling Difficult Questions
Types of Cases
Pretrial Conference
Depositions

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: $313

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: American Disabilities Act Title III Affect on R.E. & R.E. Appraisers

Course Number: 2.6

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to educate appraisers about the construction or architectural changes needed to comply with Title III of the American Disabilities Act.The act, which was signed by President Bush in July 1990, is designed to extend civil rights protection to people with disabilities.The course will discuss the intent of the law, civil rights legislation, the definition of disability, public accommodation, dates of compliance, landlord/tenant responsibilities, commercial facilities, implementation, new construction and alterations to existing construction as well as to historic properties.Testing will be optional.

The content of this course includes:

Title III and its effects on real estate
Definition of disability
Public accommodations
Landlord/tenant responsibilities
Commercial facilities
Alterations to exiting buildings
New construction

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Financial Analysis of Income Properties Using the HP 19B II

Course Number: 2.7

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course has been designed to teach the students how to use the HP 19B II calculator to understand the mathematics of appraising using the built-in menu functions to make calculations. Instructions on the use of this calculator will set the foundation for understanding the various calculations students will solve in the income-capitalization courses.Students must pass the examination given at the end of the course to receive a certificate of completion.

The content of this course includes:

Basic mathematical calculations
Time value of money
Cash flow calculations
Problem solver equations
Basic statistics
Storage and recall functions
Calculating amortization schedules
Calculating mortgages balances
Calculating mortgage constants
Calculating time intervals
Using the HP infrared printer
Calculating cash equivalency
Understanding the solver menu

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Capitalization Rates, Discount Rates and Ratios

Course Number: 2.9

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed as an introduction to, or a review of, more intense courses of the income approach to value.It centers on capitalization rates, discount rates and ratios-their composition, application and function in valuation and marketing of investment properties.An understanding of these rates and ratios is essential to appraisers, brokers and lenders involved in this area of real estate.The workbook provides patterned formulas and procedures for easy future use. Testing will be optional.

The content of this course includes:

Review definitions and steps of the income approach
Capitalization rate formulas
Capitalization rate development
Capitalization rates, discount rates: derivation and use NIM, GIM
Debt-coverage ratio
Mortgage-equity rate
Mortgage-equity program for HP 12C

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Valuation of Landscape Improvements, Timberland & Orchards

Course Number: 3.0

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to teach the students how to estimate the value of individual trees and shrubs as well as the value of commercial timberland.Students must pass the examination given at the end of the course to receive a certificate of completion.

The content of this course includes:

Tree biology
Valuating landscaping
Determining shade-tree value
IRS/insurance claims
Tree identification
Measuring board feet
Timberland approaches to value
Valuating fruit and nut trees

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Principles of Farm, Ranch & Rural Appraising

Course Number: 3.1

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This is an introductory course with emphasis on the principles of real estate appraising, the appraisal process, appraisal terminology, the role of highest and best use in appraising and the three approaches to value as applied in the agricultural setting. The basic assumptions of the perpetual income capitalization method will be discussed in detail and considered in light of the existing situation in agriculture.This course is designed to make students aware of the roles appraisal theory, standards of practice and appraisal techniques play in the estimate of value.There will be assigned considerable homework problems to demonstrate practical solutions to common appraisal problems in each approach to value.Students must pass the examination given at the end of the course to receive a certificate of completion.

The content of this course includes:

Principles of farm, ranch & rural appraising
The appraisal process
Depreciation
The cost approach
The sales-comparison approach
The income approach
Reconciliation of values
Basic appraisal case studies

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:30 hours

Course Fee:: $528

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Advanced Farm, Ranch & Rural Appraising

Course Number: 3.2

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to reinforce and expand upon 3.1 Principles of Farm, Ranch & Rural Appraising, and a significant portion of the course is designed to ensure that the students understand the principles, procedures and techniques of appraising.The three approaches to estimating value will be reviewed in detail along with the consideration of the role of highest and best use in the appraisal process.Appraising of specialized agribusiness properties will be reviewed. Partial interests will also be covered in this course.Mortgage-equity "price" methods and income value methods of appraising as applied to agricultural appraising will be considered.Case studies of a general nature such as site valuation as well as specialized agribusiness case studies will be presented as time permits.The NAIFA agricultural member examination will be given at the end of the course.Students must pass this examination to receive a certificate completion.

The content of this course includes:

Review of introductory agricultural course
Statistical tools, analysis and applications in farm appraising
Financial functions, tables, calculators and discounting
Capitalization of non-perpetual income
Rate development and capitalization
Valuation of partial interests
Mortgage-equity "pricing" and income value appraising
Case studies

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Farm, Ranch & Rural Appraising- or its equivalent

Course Length:30 hours

Course Fee:: $496

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Marshall & Swift Valuation Guides

Course Number: 4.0

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to teach the students how to use the Marshall & Swift Residential Cost Manual and the Marshall & Swift Commercial Valuation Guide.The class will work several case studies to learn how to apply the cost service.Students must pass the examination given at the end of the course to receive a certificate of completion.

The content of this course includes:

Introduction to Marshall & Swift
Square-foot method
Segregated-cost method
Yard costs
Depreciation
Local multipliers
Construction classifications
Calculator method
Comparative replacement-cost multipliers
Insurable values
Fire exclusions
Depreciated tables

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Marshall & Swift Residential Cost Approach Review

Course Number: 4.0A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed as a review to emphasize the cost problem.Students will work a square foot problem and reach a cost value conclusion.Testing will be optional.

The content of this course includes:

Square foot cost methods
Segregated cost methods
Building types & quality levels
Depreciation
Residential cost problems

Target Audience:Real estate professionals

Attendance Restrictions: Marshall & Swift Residential Cost Manual- or its equivalent

Course Length:4 hours

Course Fee:: $115

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Marshall & Swift Residential Cost Manual

Course Number: 4.1

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to teach the students how to use the Marshall & Swift Residential Cost Manual.The class will work several case studies to learn how to apply this service.Testing will be optional.

The content of this course includes:

Residential cost manual overview
Cost methods overview
Building type nomenclature
Quality selection
Square-foot method overview
Case-study example
Interpolation
Current/location cost multipliers
Depreciation overview
Segregated-cost overview
Use of segregated cost
Segregated-cost examples

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Marshall & Swift Commercial Valuation Guide

Course Number: 4.2

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to teach the students how to use the Marshall & Swift Commercial Valuation Guide.The class will work several case studies to learn how to apply this service.Testing will be optional.

The content of this course includes:

Marshall & Swift Valuation Service
Overview
Cost method overview
Occupancy types
Construction classifications
Quality classifications
Calculator cost
Segregated cost
Unit-in-place supplemental costs
Depreciation overview
Fire & insurance exclusions
Case studies

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Narrative Report Writing

Course Number: 4.3

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to teach students how to write a narrative appraisal report.Students will write each section of the report with instructor supervision; the more complicated sections and how certain sections of the report relate to FIRREA will be emphasized by the instructor.This program will also show real-estate agents and lenders the importance of an acceptable report as well as the importance of the salient facts, effort, time and proof that should be in an acceptable report.Testing will be optional.

The content of this course includes:

Parts of the narrative report
Relation of the report to FIRREA
Photos & maps for narrative report
Three approaches to value

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Farm, Ranch & Rural Appraising- or its equivalent

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: The New Uniform Residential Appraisal Report (URAR)

Course Number: 4.5

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to teach students not only the changes on the URAR form but also the Statements on Appraisal Standards and the Advisory Opinions, G1 through G10, as set forth by The Appraisal Foundation.When these letters are communicated and interpreted to appraisers, concerning specific appraisal situations, the clarity of understanding becomes obvious and the question less complex.Testing will be optional.The contents of this course include an overview of URAR changes and a line-by-line examination of URAR form.

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:7 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Reviewing Residential Appraisals

Course Number: 4.6

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to attract more qualified people to become review appraisers.It is especially designed to appeal to bankers and other lenders to train in-house reviewers as well as lending officers and bank examiners.This course is recommended to every appraiser who wants to learn the latest information concerning review appraising.Testing will be optional.

The content of this course includes:

Definitions
Demonstration of different review forms
Importance of market abstraction
Required addenda
Lenders' point of view
Case study

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Basic Residential HUD Appraisal Requirements

Course Number: 4.7

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to ensure proper training and understanding to individuals who want to be on the HUD Lender Select List for performing FHA appraisals.Students will learn about HUD standards and how to conduct appraisals under the HUD 203K program and how to conduct review appraisals under HUD.This is a course that every licensed appraiser should attend; the knowledge from this course will create another opportunity for future business.Testing will be optional.

The content of this course includes:

Requirements of existing housing
Completing the URAR
New construction
Condominiums
Appraiser/review appraiser checklist
HUD 203K mortgage program
Manufactured housing

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:7 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Professional Standards of Practice

Course Number: 5.0

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to give the students a thorough understanding of the Uniform Standards of Professional Appraisal Practice as promulgated by The Appraisal Foundation and as required by Title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA).A charter member of the Foundation, the NAIFA has also adopted these standards.Students must pass the examination at the end of the course to receive a certificate of completion.

The content of this course includes:

Purpose and history of The Appraisal Foundation
Introduction and background on the creation of the Uniform Standards of Professional Appraisal Practice
USPAP Preamble
Competency provision
Departure provision
USPAP word definitions
The appraisal process
Standard I: real-estate appraisal
Standard II: real-estate appraisal reporting
Standard III: review appraisal
Standard IV: real-estate analysis
Standard V: real-estate analysis reporting
Overview of Title XI
Appraisal standards for federally related transactions

Target Audience:Real estate professionals

Attendance Restrictions: Principles of Farm, Ranch & Rural Appraising- or its equivalent

Course Length:15 hours

Course Fee:: $278

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Standards Review

Course Number: 5.0A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to review professional standards, ethics and updates to the Uniform Standards of Professional Appraisal Practice.Testing will be optional.

The content of this course includes:

Review Standard I: real-estate appraisal
Review Standard II: real-estate appraisal reporting
Review Standard III: review appraisal
Review IV: real-estate analysis
Review V: real-estate analysis reporting
Review appraisal process

Target Audience:Real estate professionals

Attendance Restrictions: Professional Standards of Practice-or its equivalent.

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Introduction to Historic Appraising

Course Number: 6.0

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed for appraisers, lenders, real-estate agents and homeowners interested in historic buildings.The course will discuss historic preservation, local preservation ordinances, the National Register of Historic Places, the effects of preservation tools on historic buildings' property values and how appraisers look at historic property.Testing will be optional.

The content of this course includes:

An overview of historic preservation
The role of the State Historic
Preservation Society
Local historic-preservation ordinances
Legal aspects
The appraiser's view of historic buildings

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: $343

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Land Use

Course Number: 8.2

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to make appraisers aware of an extended opportunity from the valuation field.It will provide insight to both private and governmental land-use control.Students will be given an overview of land-use development and types of controls.A presentation of specific state regulations regarding zoning, planning and relief shall be given.The real-estate expert's role in the process shall be discussed and demonstrated using actual examples of successful presentations.Testing will be optional.

The content of this course includes:

Introductory history of land-use controls in the United States
Definitions
Appraiser or land-use expert
Applicable USPAP guidelines
Constitutionality of land-use controls
General exceptions to residential zones
Non-conforming uses
Wetlands and other environmental restrictions
Preparing a land-use presentation
Specific laws and land-use rights

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Is the Comparable Comparable?

Course Number: 8.3

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to enrich and deepen the understanding of comparability, which is a cardinal factor in the valuation, sale and mortgaging of real property.This course will increase professionalism for agents, appraisers, lenders and all other interested real-estate practitioners.It applies concepts and techniques to determine comparability.Case studies are the raw material used in this course.Testing will be optional.The content of this course includes definitions, the essence of comparability, and case studies.

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:8 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Concepts, Terminology, and Techniques: An Overview of the Appraisal Process

Course Number: 9.0

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This is a special course designed to help real-estate appraisers brush up on their basic skills in both residential and income-property appraising.Students will also discuss the certified appraisers law and how it affects them.Students may attend two days or four days of this course, depending on their specific needs

The content of this course includes:

Real-estate principles
Concepts of value
The appraisal process
Cost, depreciation
Sales approach, income approach
Processing income
Review of capitalization
Six functions of a dollar
income appraising problem solving

Target Audience:Real estate professionals

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Concepts, Terminology, and Techniques (Residential Only)

Course Number: 9.0A

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This is a special course designed to help real estate appraisers brush up on their basic skills in residential appraising.Students will also discuss the certified appraisers law and how it affects them.Students may attend two days or four days of this course, depending on their specific needs

The content of this course includes:

Real-estate principles
Concepts of value
The appraisal process
Cost, depreciation
Sales approach, income approach
Processing income
Review of capitalization
Six functions of a dollar
income appraising problem solving

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Concepts, Techniques, and Terminology (Income Only)

Course Number: 9.0B

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This is a special course designed to help real estate appraisers brush up on their basic skills in income-property appraising.Students will also discuss the certified appraisers law and how it affects them.Students may attend two days or four days of this course, depending on their specific needs

The content of this course includes:

Real-estate principles
Concepts of value
The appraisal process
Cost, depreciation
Sales approach, income approach
Processing income
Review of capitalization
Six functions of a dollar
income appraising problem solving

Target Audience:Real estate professionals

Attendance Restrictions: Successful completion of 9.0A

Course Length:15 hours

Course Fee:: $258

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Capitalization Theory and Techniques: Using the ROADMAP SYSTEM

Course Number: 9.1

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed to help students understand the complexities in the valuation of income-producing properties.The ROADMAP SYSTEM was developed to provide users with a visual display of the facts and the path to follow to solve the valuation question.Students must pass the examination at the end of the course to receive a certificate of completion.

The content of this course includes:

Processing income
Six functions of a dollar
Payments in advance
Amortization schedule
Cash equivalency calculations
Cash flow programs
Rate development
Residual techniques
Leased valuation
Mortgage equity

Target Audience:Real estate professionals

Attendance Restrictions: Financial Analysis of Income Properties-or its equivalent.

Course Length:15 hours

Course Fee:: $298

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Principles and Practices of Environmental Risk Screening

Course Number: 10.1

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course, co-sponsored by the National Association of Environmental Risk Auditors, is structured to help appraisers, lenders, attorneys, real-estate brokers, lenders, attorneys, real-estate brokers and other professionals identify those properties with a high probability of having environmental problems.The course is a three-day study on the environmental hazards relating to real estate and on how to identify those hazards.Students will learn how to report those hazards properly and how to write the screen report.This course is conducted by instructors who are nationally recognized authorities in the areas of environmental analysis, appraisal, site inspection, environmental science, and mortgage underwriting.The course includes an examination that covers both the course materials and the lectures.Students may earn from the NAERA designations in the area of environmental risk screening and environmental risk assessments.

The content of this course includes:

Introduction to environmental screening
Recognition of the environmental risk in real-estate
The local, state and governmental agencies
An overview of the regulations that affect property transfer
How to identify the apparent hazards and the dangers of the following:
- Asbestos
- Radon
- Lead paint
- Water pollutants
- Polychlorinated biphenyls (PCBs)
- Underground storage tanks (USTs)
- Urea formaldehyde foam insulation
- Ground water contamination
- Hazardous waste disposal
- Analysis of findings
- Report writing
- Standards of practice

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:22 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Appraising Environmentally Impacted Properties

Course Number: 10.2

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course, co-sponsored by the National Association of Environmental Risk Auditors, has been designed to teach students how to complete an appraisal or consultation assignment on properties that have been environmentally impacted, how to discuss environmentally related issues with appraisers and other related professionals and how to estimate the value of an environmentally impacted property.Credit for this course may be used for all NAERA designations.

The content of this course covers:

Environmental laws and regulations: Advisory Opinion #9, OT (89), Fannie Mae (90), OCC (92), FDIC (93)
Appraisal inspections
Hazards to consider
Introduction to methods of hazard controls
Introduction to remediation process of soil and water
Appraisal principles applied to environmentally impacted property
Bundle of rights
Highest and best use
Principle of substitution
Costs to cure/correct
Loss of rental income (all or partial)
Financing: reduction in loan-to-value ratio
Increased cost of funds, increased equity position
Overall extraction rate
Market reaction: stigma (real or perceived), contamination
Data analysis: applied techniques
Case studies

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:15 hours

Course Fee:: To be determined

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Calculating Gross Living Area Using ANSI Standards

Course Number: 11.8

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course describes the procedures for measuring the total square footage of detached single-family homes and multi-family gross building areas.The methods employed will standardize the calculation process and enable the users of this information to obtain accurate and reproducible measurements for the total gross living area (GLA) of residential properties.The student will learn how to treat the finished areas above and below grade, finished living areas above the garage, and the unfinished areas within the structure.This standard will allow individuals and organizations to agree and cooperate in communicating these square footage quantities to users of this information.

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:7 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Calculating Gross Living Area Using ANSI Standards

Course Number: 11.8A

Sponsoring Organization: National Association of Independent Fee Appraisers

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Professional Appraiser's Liability Prevention

Course Number: 99.6C

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course has been designed to teach the students how to prove adjustments by market abstraction, by calculating depreciation and by completing the URAR Single Family Report.The course is designed around classroom problems and a working manual.

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:7 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Blue Print Reading for Appraisers

Course Number: 99.7

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: This course is designed as to familiarize the appraiser with working blueprints, including; electrical, plumbing, HVAC, construction and material symbols.The student will become familiar with various views including landscaping, roof and foundation, window and door schedules, kitchen and bath layouts.

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:7 hours

Course Fee:: $139

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

Course Title: Expert Witness in Court

Course Number: 99.8

Sponsoring Organization: National Association of Independent Fee Appraisers

Course Description: The content of this course includes:

The fundamentals of being a good witness.
The three kinds of witnesses
Types of Examination
Direct Examination of expert witness: Fact, Opinion
Direct examination techniques: Who, What, When, Where
Types of questions
Specific questions/narrative questions
Cross examination: understanding leading questions, information fed to witnesses
Impeach or discredit witness
Bias, interest, prejudice, the lack of ability to perceive
Rules of the expert witness: tell the truth, listen, make sure you understand the question, take your time, answer the specific questions asked, do not volunteer more than what is asked, and don't guess
Our Jury system: Good judges, Fair minded jurors
Competent Attorneys, Willing and honest witnesses

Target Audience:Real estate professionals

Attendance Restrictions: None

Course Length:4 hours

Course Fee:: $100

Contact Information: Dana Vence
Education Assistant
7501 Murdoch Avenue
St. Louis, Missouri, 63119
Voice: 314-781-6688
Fax: 314-781-2872
E-mail: Register@naifa.com
Website: www.naifa.com

Keywords: Appraisal, valuation

US Army Corps of Engineers

Course Title: Real Estate Appraisal in Leasing

Course Number: 102

Sponsoring Organization: U.S. Army Corps of Engineers

Course Description: Includes lectures, class discussions, practice exercises, a field trip, and testing. The following topics will be addressed: what is an appraisal, how is it used, and who uses it?; terminology, definitions, and structure of the appraisal report; three approaches to value, sales comparison, cost, and income; use of grids, spreadsheets, formulas, and reconciliation of approaches; completion of appraisal for military in-lease appraisals ($24,000 or less); review of the Uniform Standards of Professional Appraisal Practice (USPAP); leasehold authorities, regulations, and leasing procedures; leasehold estates and forms, including mandatory and optional clauses; preparing and using acquisition reports, environmental baseline studies, economic analyses, standard lease acquisition packages, and planning reports; lease negotiations; and lease administration. (CEUs: 3.0)

Target Audience:Appraisers and realty specialists

Attendance Restrictions: Nominees must be assigned Occupational Series 0905, 1101, 1170, or 1171, or other related series; Grade GS-05 or above; and primarily assigned to real estate functions.

Course Length:36 hours 49RAL01A

Course Fee:: $1,200

Contact Information: Attention: CEHR-P-R9
PO Box 1600
Huntsville, AL 35807-4301
Phone:(256) 895-7421
Fax:(256) 895-7469
Website: www.pdsc.usace.army.mil

Keywords: Appraisal, valuation

US Forest Service

Course Title: Valuation and Landownership Adjustment

Course Number: PRLS 645

Sponsoring Organization: U.S. Forest Service (USDA at George Mason University)

Course Description: This course covers landownership authority, coordination, and adjustment processes; land valuation and rules; and processes of appraisal, title, exchange, purchase, donation, transfer, sale, and condemnation of properties. (5 credits)

Target Audience:Administrators, Mid-Level professionals

Attendance Restrictions: Government experience recommended

Course Length:The length of time to complete the course depends on course content and experience of the learner.Students have 6 months from receipt of course materials to complete the course (there are extension possibilities for an additional cost).

Course Fee:: $660

Contact Information: Distance Learning Program
George Mason University
10900 University Boulevard, Room 312
Manassas, VA 20110
Phone:(703) 993-8301
Fax:(703) 993-8300
Website: http://dlp.gmu.edu

Keywords: Appraisal, valuation

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