Forum 909 — The Appraisal of Commercial Properties in a Declining Market
Many areas are experiencing a decline in the value of their commercial and industrial properties for the first time in recent history. Explore the process for valuing properties that fall into this category. The exploration of capitalization rates, vacancy calculations, and market rents are critical to this task. The impact and adjustment, utilizing the market approach, for time will also be discussed. IAAO recertification credit: 7.5 hours
Forum 910 — Valuation of Convenience Stores
Understand the history, definition and classification of convenience stores. Learn how to apply highest and best use analysis. Examine the cost approach, sales comparison approach and income approach to appraising convenience stores. Engage in problem solving exercises and case studies. IAAO recertification credit: 7.5 hours
Forum 911 — Valuation of Contaminated Properties
Participants will have the opportunity to analyze and evaluate the impact that contamination has on property valuation. Contamination appears in many forms; pesticides on agricultural properties, gas leaks at the corner gas station, run-off from landfills, and industrial by-products are some of the more common forms. Assessment officials must be prepared to deal with the impact these occurrences have on property valuation. IAAO recertification credit: 7.5 hours
Forum 917 — How to Critique An Appraisal
Discover a methodical approach to the review and critique of appraisals submitted in support of assessment reduction. You will distinguish if an appraiser acts as an advocate for the client, or truly approaches the assignment as a disinterested unbiased third party. All aspects of an appraisal will be inspected to ascertain the credibility and reliability of the work submitted. IAAO recertification credit: 7.5 hours
Forum 931 — Reading and Understanding Leases
Enhance your ability to read, analyze, and interpret leases. Learn why extracting all pertinent information from a lease is a critical step in determining property value by the income approach. Terminology, types of leases, common clauses, and custom leases will be reviewed. The impact that these issues have on value will also be discussed. IAAO recertification credit: 7.5 hours
Forum 932 — Restructuring Income/Expense Statements
Find out the importance of restructuring of income and expense statements. Learn how to take an owners income statement and restructure it applying knowledge learned in this forum. Income and expense items that are not permissible for valuation purposes and items that are allowable, but not reported by property owners will be discussed and reviewed. IAAO recertification credit: 7.5 hours
Forum 960 — Marshall & Swift Residential – Square Foot Method
This forum explores the Marshall & Swift Residential Cost Handbook-Square Foot Method. It is designed to give you a confident understanding of the use of the Residential Cost Handbook in evaluating properties using the cost approach. IAAO recertification credit: 7.5 hours
Forum 962 — Marshall & Swift Commercial – Square Foot Method
This forum explores the use of the Marshall Valuation Service in evaluating commercial properties using the cost approach. The method discussed is the calculator (square foot) method. IAAO recertification credit: 7.5 hours
Forum 990 — Residential Appraising: New Things to Think About
This seminar is designed to explore some contemporary residential appraising issues as well as some of the more difficult and controversial issues in residential mortgage lending appraisals. Topics that will be covered include:
• Situations where an appraiser may need a different skill set to develop a credible analysis.
• Appraisal problems that require an appraiser to get help or pursue further study.
• Situations where the highest and best use is to remove the residence and redevelop the real estate.
• The need to identify the most likely buyer for the subject and what data will give evidence of that buyer’s motivations.
• Methods to extract and support adjustments or adjustment rates in residential quantitative analyses.
• The need for market analysis in residential appraisals and the impact on credibility of a well- prepared analysis and report.
• Development of a market analysis in residential appraisals including sources of data, reliability of data, and statistical tools available in the market to support a market conditions conclusion.
• The need for some appraisal reports to stipulate the strengths and weaknesses and to give the client an idea of the credibility of the results.
IAAO recertification credit: 7.0 hours
Forum 991 — Understanding and Using Comparable Transactions
This forum is designed to enhance the understanding and use of comparable properties. Appraisers use comparable property information every day. The entire appraisal process is dependent on the comparison of data.
The analysis of real estate transactions is a critical component in the valuation of real property. Appraisal methodology and techniques are based on the comparison of data. Market analysis, highest and best use analysis, and the three approaches to value—the sales comparison approach, the cost approach, and the income approach—are developed based on the comparison of data. The proper recognition and identification of what is a comparable, why it has been selected as a comparable, and how the comparable is used is critical to the appraisal process.
Improving an appraiser’s ability to effectively analyze and select relevant comparable properties will result in better supported, more believable and persuasive appraisals and appraisal reviews. Additionally, an enhanced understanding of the process of selecting and analyzing properties that possess characteristics that may be useful for comparative purposes enables an appraiser to more clearly explain and support the analysis in an appraisal report.
IAAO recertification credit: 7.0 hours