Certified for 3 hours of continuing education in AL, AR, AZ, CA, CO, CT, FL, GA, IL, KY, KS, LA, MD, MI, MO, MS, NE, NJ, NV, NY, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, and WA. *Re-Approval Pending in IN* More states coming soon!
This course was created to provide a broad review of basic techniques and procedures for deriving market adjustments and extracting them from available market data. The course examines the wealth of data in the public records system and explores multi-variable regression analyses (sometimes called automated valuation models), the MLS, as well as the appraiser’s own files. Specifically, this course identifies ways in which time adjustments, size adjustments and amenity adjustments can be extracted and measured from market data. This is in keeping with USPAP and FannieMae Selling Guide requirements for adjustments.
The goal is to demonstrate to the appraiser not only the need to make proper adjustments when those are necessary, but to have market-derived support for those adjustments, and then to maintain that support in the workfile, as both USPAP and Fannie Mae require.
Learn how to isolate specific market data
By isolating specific market data, learn how to extract market-supported adjustments from them
Learn what USPAP and Fannie Mae have to say about adjustments, the need for them, and where they must come from
Examine the Fannie Mae definition of market value from the standpoint of extracting market adjustments
Discuss the different approaches to value, as well as how they can serve as a basis for an adjustment
Discuss the importance of critical analyses as part of the typical real estate appraisal
Learn more about comparables sales, the concept of a comparable sale as an analogue, and the principle of substitution
Discover the powerful tool of “Scope of Work”, as well as how an appraiser should use it
Learn the importance of following USPAP’s SR1-4 relative to gathering, analyzing, and verifying information
Discover the importance of maintaining a proper and USPAP-compliant workfile
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Tim Andersen, MAI
Tim Andersen is an AQB Certified USPAP Instructor, consultant, and reviewer. He also does commercial real estate appraisal and Florida tax appeal work. He travels throughout the US teaching USPAP, and is an Approved Instructor for the Appraisal Institute. Have PowerPoint, Will Travel. Besides all facets of commercial real estate appraisal, other areas of expertise include writing, producing, and presenting webinars on all areas of real estate appraisal.
Specialties: Appraisal Institute member, designated as an MAI, Master of Science degree in Real Estate Appraisal , AQB Certified, USPAP Instructor, State Certified General Real Estate Appraiser, Instructor with the Appraisal Institute, Experienced Public Speaker