The Cost Approach: Unnecessary or Vital to a Healthy Practice?

Date: June 3, 2022

Location: Coralville, IA


Sponsor:
Iowa Chapter
Contact:
Ms. Gehring
Phone:
(515)419-6076
Email:
proappraisalinc@gmail.com
Name:
Kirkwood Regional Center
Address:
2301 Oakdale Blvd
Coralville, IA 52241
Instructors:
Craig Steinley, MAI, SRA, AI-GRS, AI-RRS

Continuing Education
Class Time: 7 hours
Exam Hours: N/A


AI Price: $190.00
Full Price: $190.00

Notes

DescriptionHow 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!

Objectives
  • 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.

Experiences

Seminar Materials Include:
  • Seminar Handbook (259 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.
 
 

Cancellation Policy

Cancellation Policy

Cancellation Fees:

·         Up to 14 days prior to the program start date, $25 cancel fee

·       8-13 days prior to the program start date, $75 cancel fee

·         7 days or less prior to the program start date, no refund will be provided


Additional Information

Location: Kirkwood Regional Center, 2301 Oakdale Blvd, Coralville, IA 52241

Class Registration:  June 3rd, 2022 at 8:00 A.M. to 8:30 A.M.. (Lunch not included with seminar fee).

 

Class Sessions:8:30 A.M. to 12:00 P.M. (Lunch Time) 1.00 P.M. to 5:00 P.M.

 

Continue Education - Classroom Credit: 

Continue Education Credit: Seven (7) hours of continuing education credits have been APPROVED/APPLIED for license and appraisal certification renewal in Iowa and Illinois,  (7) hours of continuing education credits have been APPLIED for Realtors by the Iowa Real Estate Commission,  (7) hours of continuing education credits have been APPLIED by the Appraisal Institute and  (7) hours of continuing education credits have been APPLIED by the Iowa Department of Revenue for assessors.


We will follow Iowa Covid 19 guidelines. 


Attendance:The Appraisal Institute enforces attendance requirements mandated by State licensing and certification regulatory agencies. The Iowa Chapter enforces the attendance requirements as mandated by the State of Iowa and the AQB. There is a 100% attendance policy. Don't be late or leave early


 

Disclaimer Information

Registration is on a first-come, first-served basis. If the program is filled, e-mail iachap@yahoo.com to be placed on a waiting list.  If you have a disability and require accommodation, please e-mail iachap@yahoo.com at least two weeks in advance for reasonable accommodations to be arranged.

National Disclaimer

State Credit

Please note that 100% attendance is required in order to receive any approved state credit or to be awarded AI CE points. It is imperative that you check with your state board for state approval information before completing registration.

Other Information

If you have a disability and require accommodation, please notify the sponsor at least two weeks in advance for reasonable accommodations to be arranged.

The Appraisal Institute reserves the rights to cancel, limit, or reschedule the program and to change instructor assignments and facility locations at any time.