Course: Advanced Market Analysis and Highest and Best Use
November 11 - November 15
This course is still “under construction”.
We are working to bring this “LIVE” in-classroom Advanced / Designation Education course to the East Bay. Dates listed are ONLY tentative for now.
Combining the analytical processes of market analysis, highest and best use, and income valuation, this course is intended for those who have taken and passed the General Appraiser Market Analysis and Highest & Best Use course and have a thorough understanding of the mathematical and financial principles necessary to perform appraisals of income-producing properties. Building on the Level B marketability analyses that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability analysis using fundamental analysis and study several real estate markets in a fictional city.
You will explore the economic base of the fictional city, which serves as the subject and example of both physical and economic forces that affect all communities and consequently all real estate. In the remainder of the course, you will work through four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that demonstrate both the power of fundamental market analysis and its application to highest and best use decisions.
Because this course builds on concepts learned in the Appraisal Institute course General Appraiser Market Analysis and Highest & Best Use, it is HIGHLY recommended that you take the General Appraiser Market Analysis and Highest & Best Use course before you take this advanced course. By taking both courses, you should gain a solid knowledge base in market analysis and highest and best use concepts. If you elect to take only this course, be advised that you’ll need to factor in additional study time to learn the general concepts presented in the previous course.
- Recognize the definitions of market analysis, market, market study, and marketability analysis
- Recognize how market analysis applies to the determination of highest and best use
- Identify ways of determining financial feasibility
- Recognize applications of market analysis to the valuation process
- Identify ways that social, physical, economic, and institutional support systems in urban areas ultimately determine land use
- Identify the six basic steps used to conduct a marketability analysis
- Complete rating grids about a subject property’s characteristics to draw conclusions about its competitive position
- Recognize procedures for delineating a subject property’s market area
- Forecast demand for office, apartment, condominium, retail, and industrial space
- Conclude supportable demand for various property types
- Calculate residual demand for various types of space
- Forecast subject capture and draw conclusions about a property’s market rent and occupancy rate over a given time frame