Credit Hours: 45
Property valuation may be the single hardest thing to determine in real estate today – sound appraisal principles are the key.
Where is the market going? Are you in a declining, stable, or appreciating market…and what determines that? These are big questions that can really only be answered after gaining a fundamental understanding of real estate appraisal, and with over 70% of all real estate transactions involving a loan and home mortgage, you can bet that professional appraisals play a huge role in the real estate industry today.
In this course you will learn the basics of the appraisal profession, the mathematical and statistical analysis skills the role requires, and how the appraisal process relates to financing and the real estate transaction as a whole. Discover how hard it is to find “good data” and to what extremes appraisers sometimes need to go in order to get it to determine a property value.
Appraisers were overly criticized during the real estate bubble collapse and are now held to some of the highest standards of professionalism in the country. Learn the various approaches that appraisers must now take when determining value by cost, sales, or income approach and why their opinion of value sometimes contradicts what you or your clients think.