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

Date: March 4, 2021

Location: Virtual Classroom, MD


Sponsor:
Washington DC Metropolitan Area Chapter
Contact:
Mr. Peter Houstle
Phone:
301-924-1020
Email:
phoustle@marinermanagement.com
Name:
Virtual Classroom
Contact:
Phone:
301-924-1020
Instructors:
Craig Steinley, MAI, SRA, AI-GRS, AI-RRS
Notes:
Please note that you must have a webcam on your computer to verify attendance.

AI Price: $160.00
Full Price: $185.00

Notes

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

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.
 
 

Additional Information

Zoom - The login link will be sent the week before the class. As required by the AQB, all students must have a working camera and microphone so they can be seen and heard by the instructor for the duration of the class.

CE Approval - The Maryland, District of Columbia and Virginia appraisal licensing boards have agreed they will allow the “virtual” exception for approved classroom programs as recommended by the AQB (see https://appraisalfoundation.sharefile.com/d-s1955fb545bf43ac9).


Class Time: 9am - 5pm (Login to "sign in" at 8:45am)

National Disclaimer

Virtual Education Exception

Please note that not all states have approved Virtual education, therefore, registrants MUST CHECK their individual states for approval BEFORE registering for the Program. Before registering for the Program, registrants understand and agree that continuing education credit for this program MAY NOT be available in their state on the date of the Program. The Appraisal Institute is not responsible if credit is not available for the Program in individual states. Please note: State exceptions for virtual education may expire PRIOR to the offering date.

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.