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

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

Notes

Description

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!

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

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.

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