Course 333 Residential Modeling Applications SRM. Does not include the exam.
Course 333 focuses on mass appraisal model building for residential properties. Chapter 1 explains the different types of mass appraisal models; types of data used in models; steps in model development; software tools available for modeling; and key regression concepts and statistics. Chapter 2 introduces the student to features contained in common statistical software packages. Chapter 3 covers basic statistical analyses; data transformations; charts and graphs; and data filters and sub-files. Chapter 4 focus on the development and application of price trends and vacant land models. Chapter 5 focuses on the development of improved residential models. Chapter 6 introduces automated comparable sales models.
Along with problems and illustrations; more than half of the course is based on hands-on labs in which students work through exercises with real world data to answer questions and construct data transformations; price trends; land and improved residential models; and ratio analyses. The course uses IBM’s user-friendly statistical software package; SPSS (Statistical Package for the Social Sciences); the most common statistical software package used by assessors. Follow-up course 334 covers the development of non-residential mass appraisal models.