Course: Residential Site Valuation and Cost Approach
June 17 @ 8:00 am - June 18 @ 5:00 pm
This course is still “under construction”.
We are working to bring this “LIVE” 2-day QE/BE offering to the East Bay. Dates listed are ONLY tentative for now.
This course focuses on the valuation of vacant land parcels and the development of the cost approach. Create a current cost estimate using market extraction, discover effective interview techniques, and explore information provided by professional cost data sources. An in-depth case study takes you from the origin of the appraisal assignment to a final value estimate using various cost approach applications.
- Examine all steps in completing a cost approach. The step-by-step process of estimating current construction cost is the focus.
- Recognize how to use data sources and the comparative-unit method of cost calculation.
- Apply the age-life and market extraction methods of estimating depreciation.
- Understand elements of cost approach summation, including reconciliation of depreciation estimates.
- Identify residential site valuation principles and how they relate to the concept of market analysis and the development of a highest and best use conclusion.
- Explore the elements of comparison and the units of comparison as they are applied in the sales comparison approach for estimating site value.
- Recognize steps in the extraction and allocation methods of site valuation.
- Reconcile multiple site value indications to a final opinion of site value.
- Apply the breakdown method of estimating depreciation, including physical deterioration, functional obsolescence, and external obsolescence.