The principles of appraisal course offers students an overview of the property values of residential and commercial locations. Topics of the course focus on the value influence, economic principles, value types, characteristics, appraisal ethics and real estate markets. To develop an understanding of appraisal principles, students look at case studies and other practical examples.
Students enrolled in a procedures of appraisal course are taken through a step-by-step guide in how to identify values, collect and analyze data, communicate appraisals, and reach final appraisal value. Focuses of the course include income capitalization, sales comparison, opinion of value and cost. Opportunities are available to examine formulas for income capitalization and interest rates.
A residential market analysis course offers students a strong understanding of the market and teaches them about supply and demand, market analysis procedures and market fundamentals. Students learn about buyer and seller behaviors and gain the tools to properly analyze data. The theory of highest and best use is also covered.
The commercial and residential sales comparison and income approaches course teaches students about the valuation principles applicable to properties. Students learn about market adjustments, market analysis techniques, appraising income properties, and finance and cash equivalency. Opportunities are also available to develop techniques to organize and reconcile data.
A general appraiser site valuation and cost approach course educates students on the basic approaches to real estate appraisal. Students in the course learn about land and site valuation, and apply that valuation to cost approach. Additional topics include replacement cost, reproduction cost and accrued depreciation.