General Appraiser Site Valuation and Cost Approach

Two in-depth case studies are presented in this course. Summerville Case Study addresses the valuation of an industrial property and demonstrates the fundamentals of site valuation, estimation of current improvement cost, and various methods of recognizing and measuring depreciation.

The second case study, Oakvale Terrace, is a short one, featuring valuation of a residential subject site using the sales comparison approach, extraction, interview techniques, and information provided by professional cost data sources.

By successfully completing the course and exam, you will have met most states' education requirements in the content area identified as general appraiser site valuation and cost approach.

• Develop a complete cost approach. The step-by-step process of estimating current construction cost is the focus.
• Identify and 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 for estimating depreciation, including physical deterioration, functional obsolescence, and external obsolescence.
• Recognize elements of cost approach summation, including reconciliation of depreciation estimates.
• Identify basic site valuation principles and how they relate to the concept of market analysis and the development of a highest and best use conclusion.

• Basic Appraisal Principles
• Basic Appraisal Procedures
• National Uniform Standards of Professional Appraisal Practice (USPAP) Course, 15-Hour