Land Valuation: Tips and Trends

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Seminar: “Land Valuation: Tips and Trends”- Virtual April 6, 2021 3 hours

April 6, 2021: 8:30-11:30 am via ZOOM

Target Audience: Residential and Commercial Appraisers

Instructor: Susanne M. Curran MAI, AI-GRS, MCRP, PP

Objective: Present a Comprehensive High-Level Overview of factors supporting Land Valuation that are Relevant to

Appraisers and to the Accuracy of Appraisal Reports

Seminar Outline:

Instructor Introduction and Comments: 5 minutes

Part 1: Land Concepts: Physical, Economic, Legal and Risk Aspects that Affect Value 20 Minutes

Property Characteristics: “As Is”, Current Sources of Information, Fee Simple rights vs. Easement, Risks Inherent in

Trend/Forecast Assumptions, Intended Users- Who Asks? / “Other” Requirements/ Appraiser Independence

Part 2: Highest and Best Use and Demand: Market Analysis Factors; Property Marketability 30 Minutes

D.U.E.S, Population, Income and Employment, Competitive Current and Future Supply; Demand

10-minute Break

Part 3: Easements and Utilities: 30 minutes

Public Sewer/Water, Access Easements, Conservation Easements, Stream/Stormwater Easements, Corridors

Discussion of Relevant Information on Partial Easement Interests and Utility Interests, for Land Appraisal

Part 4: Land Development Regulations 30 minutes

PA Land Use Law: Municipalities and Counties; Development Approval Process, meaning of “Approved”?

Development Approvals: Real or Not? Permit Extension Act, Building Permits, Perc Tests, Protection of Natural Areas,

Zoning and Overlays, State Jurisdiction

5-minute Break

Part 5: Approaches to Value: 40 minutes

Sales Comparison Approach: Guidelines for Locating Relevant Sales, Units of Comparison, Elements of Comparison,

Relevant Quantitative Adjustments, Reconciliation of Value

Discounted Cash Flow Analysis/Development Method: When appropriate and supported, Risk Factors, Timing of

Development, Absorption, Expenses, Site Costs, Appropriate and Sufficient Discounts and Deductions

Questions: 10 minutes

Additional Information

The Philadelphia Metro. Chapter is seeking CE approval for PA, DE and NJ ONLY! Please note the Virtual Guidelines below.  We will be enforcing these for ALL PARTICIPANTS!!! Virtual Meeting Participation Requirements and Guidelines: Students must have webcam/iphone/ipad/smartphone capability to participate and receive continuing education credit. The platform will be interactive and live. The instructor must be able to physically see and interact with all students and students must be able see and interact with the instructor. A copy of your driver’s license must be emailed to the Chapter office as verification after you have registered for the offering prior to the offering start date. An access link will be emailed to student prior to the offering in separate email from registration confirmation. Please check your webcam privacy settings on your computer.

National Disclaimer

This Educational Program was developed and organized by the Appraisal Institute Chapter offering the Program with the intent of addressing topic(s) of current local interest solely for educational and informational purposes. The Appraisal Institute national organization was not involved in developing or organizing the Program.

The content of this Program, including but not limited to any written materials and presenter comments, does not represent the viewpoint of the Appraisal Institute (defined as including but not limited to, the national organization, its Regions, Chapters, members, candidates, affiliates and staff) unless formally adopted by the national Board of Directors. Further, the Appraisal Institute has not peer-reviewed or approved the content of the Program and does not warrant the accuracy or timeliness of the content of the Program. The content of the Program is subject to court decisions and local, state and federal laws and regulations and any such revisions of such laws and regulations.

This Program is presented with the understanding that the Appraisal Institute is not engaged in rendering legal, accounting or other professional advice or services. Nothing in the Program is to be construed as the offering of such advice or services. If expert advice or services are required, attendees and readers are responsible for obtaining such advice or services from appropriate professionals.