Advanced Land Valuation: Sound Solutions to Perplexing Problems

By examining unusual and complex land valuation assignments, this seminar takes concepts covered in the Appraisal Institute curriculum to the next level. In addition to lecture, discussion, and Q&A, sample case studies will demonstrate, primarily in Excel, conceptual and practical applications that participants will be able to incorporate into their day-to-day work. The seminar will suggest strategies for performing these assignments.

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• General and residential certified appraisers
• Consultants, real estate agents, land owners, land use planners, developers, investors

• Use a land residual technique based on a DCF analysis to value land intended for two alternative competing uses (“for rental” apartments versus “for-sale” condominiums).
• Determine the highest and best use of land when the legally permissible, physically possible, and financially feasible use(s) are very uncertain and cannot be determined using traditional methodologies.
• Determine land value when the value is a function of a curvilinear relationship with its appropriate unit of comparison (in this case, the value of land suitable for apartment development as a function of density).
• Determine land rent using a nontraditional unit of comparison (in this case land rental value based on average traffic volume).
• Estimate the value of land subject to a long-term ground lease with multiple forms of financial benefits accruing to the landowner.

• Familiarity with DCF concepts and general valuation approaches, specifically yield capitalization
• Basic working knowledge of Excel helpful

No Exam

Intermediate/Advanced

Attend: 75 AI Points

7 hours

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Table of Contents and Overview
Seminar Schedule

• A laptop computer is highly recommended.
• Excel Analysis ToolPak should be installed and operational.

None specified

Seminar Materials Include:

• Seminar Handbook (168 pp.)
• Pre-Class Downloads (1.5 KB)
• Pre-Class Memo (1 p.)

• Market Analysis for Real Estate, 2nd ed.
• The Appraisal of Real Estate, 15th ed. 
• The Dictionary of Real Estate Appraisal, 6th ed.