Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

Residential Site Valuation and Cost Approach Classroom Course (15-Credit Hours)

MN Residential Site Valuation and Cost Approach

Price: $349.00

Credit Hours: 15

Key Points:

This 2-day course is your opportunity to review the principles and applications of the cost approach and its relationship to residential site valuation.

This course includes step-by-step applications of the cost approach. It begins with a detailed inspection of the property. You’ll learn how to inspect the improvements and analyze the condition. You’ll learn how to inspect the site and perform a market analysis. And you’ll learn exactly how to measure the improvements and compute area. Through case studies and examples you’ll practice estimating physical deterioration, functional obsolescence and economic obsolescence. You’ll also learn how to reconcile the estimates of depreciation.

The principles covered in Residential Market Analysis and Highest and Best Use will be applied to show you how to perform a market analysis and arrive at a highest and best use conclusion. You’ll also look at alternative residential site valuation principles. The primary focus is the application of the sales comparison approach to estimate residential site value. You’ll learn the most common elements and units of comparison. You’ll also learn how to apply allocation and market extraction techniques. Finally, you’ll learn how to reconcile all of this information to arrive at your reconciled opinion of site value.

This course has been approved by the Minnesota Commissioner of Commerce for 15 hours of appraisal licensing education.

Topics:

  • Residential applications of the cost approach
  • Alternative methods to estimate building costs
  • How to find and apply cost data
  • Physical, functional and external depreciation
  • How to measure depreciation
  • How to perform market extraction
  • How to apply the breakdown method of depreciation
  • The principles of site valuation
  • How to identify site characteristics
  • How to analyze the market and determine highest and best use
  • Case studies and examples
  • Federally mandated one hour final exam must be passed for course credit
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