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Residential Site Valuation and Cost Approach
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This course focuses on the valuation of vacant land parcels and the development of the cost approach. Expand your skills by creating a current cost estimate using market extraction, interview techniques, and information provided by professional cost data sources. An in-depth case study takes you from the origin of the appraisal assignment to a final value indication using various cost approach applications. Successful completion of the course and exam should satisfy most states' education requirements in the content area identified as residential site valuation and cost approach.
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Delivery Format |
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State Approvals |
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| Appraisal Institute |
On Demand |
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Online |
Check |
Register |
| Appraisal Institute |
June 12-15, 2023 |
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Synchronous |
Check |
Register |
| Tennessee Chapter |
August 16-17, 2023 |
Nashville, TN |
Classroom |
Check |
Register |
| Appraisal Institute |
November 06-09, 2023 |
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Synchronous |
Check |
Register |
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Program State Approval & Hours
Some AI educational programs may not be approved in every state and every delivery format. To see a list of all state approvals across all formats for this course, please use the link below.
View all approvals for this course
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Those seeking residential real property appraiser licensure or certification with introductory experience and an understanding of the fundamental concepts of appraising
- Identify all steps in completing a cost approach. The step-by-step process of estimating current construction cost is the focus.
- Recognize how to use data sources and the comparative-unit method of cost calculation.
- Apply the age-life and market extraction methods of estimating depreciation.
- Apply the breakdown method of estimating depreciation, including physical deterioration, functional obsolescence, and external obsolescence.
- Recognize elements of cost approach summation, including reconciliation of depreciation estimates.
- Identify residential site valuation principles and how they relate to the concept of market analysis and the development of a highest and best use conclusion.
- Identify the elements of comparison and the units of comparison as they are applied in the sales comparison approach for estimating site value.
- Recognize steps in the extraction and allocation methods of site valuation.
- Reconcile multiple site value indications to a final opinion of site value.
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Appraisal Institute CE Points
Attend: 70 AI Points, Attend and Pass Exam: 140 AI Points, Pass Only: 125 AI Points
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Classroom & Synchronous Online & Synchronous
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Required and/or Recommended Equipment
Classroom & Synchronous Online |
Classroom Course Materials Include:
- Course Handbook (413 pp.)
- Case Study Booklet (26 pp.)
You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam. Online Exam:
You will have 90 days from the time that you complete the course to take the proctored, offline exam. Testing center locations in your area can be found by clicking on this link:www.pearsonvue.com/ai.
Exam FAQ
Online Course AccessGo to www.appraisalinstitute.org and log in with the username and password you used when you registered. Click on the red “My Account” button if you are not automatically taken to your account page. 1. Click "Education and Events" on the right navigation menu. 2. Find the course under the “Online Courses” heading and click the “Begin” button. IMPORTANT NOTE: Once this button is clicked, your access length time (e.g. 90 days) will begin. Only click when you intend to start the course. If you are returning, once you have started the course, click the “Continue” button to continue. Technology-Based Education Student DisclaimerI agree to the terms and policies set forth under the Appraisal Institute Education Policy. I also certify that I am the person identified under Personal Data and that I will personally complete each assigned component of instruction and any examination(s). I understand and agree that if I misrepresent my identity or arrange for someone else to represent himself or herself as me at any time during the Appraisal Institute online course or seminar, I will be immediately removed from the course or seminar and I will not be entitled to any refund. I further understand that if I am a Designated member, Candidate for Designation, Practicing Affiliate, or Affiliate of the Appraisal Institute and participated in any misrepresentation of identity, by affirmative act or failure to act, I will be the subject of a peer review proceeding under Regulation No. 6 for violation of the Code of Professional Ethics and Standards of Professional Practice of the Appraisal Institute, and such peer review proceeding may result in termination of my Appraisal Institute membership, candidacy, and/or affiliation. Other DetailsFor information about how on demand online education programs work, registration and cancellation policies, and other details, see our On Demand Online Education Frequently Asked Questions. Synchronous Course Materials Include:
- Course Handbook (417 pp.)
- Case Study Booklet (26 pp.)
You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.
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