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The Cost Approach: Unnecessary or Vital to a Healthy Practice?
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How often have you have heard residential appraisers don’t need the cost approach to obtain credible assignment results? Participants in the secondary market often suggest this, and it’s even highlighted in the Fannie Mae Selling Guide that the cost approach is only required for the valuing manufactured homes. Unfortunately, not understanding the cost approach limits your ability to properly support adjustments in the sales comparison approach, understand trends in market conditions that are often driven by building costs, and recognize and quantify the forms of depreciation that can affect residential improvements. By better understanding the 8 important steps in the cost approach, you can rely on its indications whether you have little data, confusing data, or lots of data. Presentations and case studies will help you better understand the key connection between proficiency with the cost approach and your ability to support your adjustments in the sales comparison approach. This much needed seminar will show you that the cost approach truly is relevant!
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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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- Estimate site value.
- Estimate cost of improvements.
- Estimate entrepreneurial incentive.
- Estimate total cost of improvements.
- Estimate depreciation in the structure.
- Estimate depreciated cost.
- Estimate contribution of site improvements.
- Derive indicated value of the property.
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Appraisal Institute CE Points
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Required and/or Recommended Equipment
- A regular function or financial calculator is required
- Bringing a PRINT copy of the materials to class (rather than the download) will enhance your learning experience
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Classroom Seminar Materials Include: - Seminar Handbook (442 pp.)
- Pre-Class Memo (1 p.)
Important! You may want to consider ordering print materials for this seminar, or simply print all materials on your own and bring them to class. Having print copies of the materials will enhance the learning experience for this seminar. Required Equipment: - A regular function or financial calculator is required
Synchronous Seminar Materials Include: - Seminar Handbook (442 pp.)
- Pre-Class Memo (1 p.)
Important! You may want to consider ordering print materials for this seminar, or simply print all materials on your own and bring them to class. Having print copies of the materials will enhance the learning experience for this seminar. Required Equipment: - A regular function or financial calculator is required
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