Please Note: Principles of Real Estate Appraisals is a prerequisite for all other courses. A high school diploma or the equivalent is required. Basic computer and math skills are highly desirable.
Required Courses:
Related Courses:
Required Real Estate Appraising Courses
- Principles of Real Estate Appraisal
- Subject and Catalog Number: XREA 980
Those seeking to enter the appraisal field will receive an overview of real estate appraisal concepts. Through reading, case study analysis and discussion, students will learn how to apply appraisal principles.
Topics:
- Real property characteristics
- Real estate concepts
- Legal considerations
- Types of value
- Influences on value
- Economic principles
- Real estate finance
- Real estate markets and analysis
- Application of ethics in appraisal theory and practice
This course provides 30 hours of basic education for those seeking to enter the appraisal field.
This course is structured to comply with the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
Required Text: Basic Appraisal Principles (Hondros Learning, 2006)
- Procedures and Applications in Real Estate Appraisal
- Subject and Catalog Number: XREA 981
Through examples, case study analysis and discussion, students will learn how appraisal procedures and techniques are applied and receive an overview of real estate appraisal concepts.
Topics:
- Valuation procedures
- Overview of approaches to value
- Property descriptions
- Residential appraisal applications
- Commercial appraisal applications
- Residential construction and features
- Home inspection
- Appraisal mathematics
This course provides 30 hours of basic education for those seeking to enter the appraisal field.
The course is structured to comply with the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
Required Text: Basic Appraisal Procedures (Hondros Learning, 2006)
- Residential Sales Comparison and Income Approaches
- Subject and Catalog Number: XREA 982
This course provides the student with a basic understanding of residential sales comparison and income approaches to real estate appraisal. Valuation principles and concepts related to both approaches will be explored through case studies that teach students how to apply techniques for market comparison and income analysis. Through reading, exercises and discussion, students will learn how to develop and apply matched pairs of sales, gross rent multipliers and direct capitalization rates.
Topics:
- Valuation and sales comparison
- Assembling and verifying data
- Selecting comparable sales
- Adjusting comparable sales
- Final sales comparison analysis
- Income approach to appraisal
- Income capitalization
- Investor consideration
- Other income approaches
- Final income approach analysis
This course provides 30 hours of basic education for those seeking to enter the appraisal field.
This course is structured to comply with the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
Required Text: Residential Sales and Income Approaches (Hondros Learning, 2005)
- Market Analysis and Highest and Best Use
- Subject and Catalog Number: XREA 983
Highest and Best Use analysis is the centerpiece of all types of residential real estate valuation. This course provides an overview of appraisal concepts relating Real Estate Market Analysis to Highest and Best Use Analysis. Students will learn the theories and methods regarding proper collection and analysis of market data and how they relate and apply to Highest and Best Use Analysis. Through examples, case study analysis and discussion, students will acquire a working knowledge of this important subject.
Topics:
- Market analysis
- Defining and analyzing the market
- Drawing conclusions from the market
- Land use restrictions
- Highest and Best Use
- Economic considerations
- Final Highest and Best Use Analysis
This course provides 15 hours of basic education for those seeking to enter the appraisal field.
The course is structured to comply with the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
Required Text: Market Analysis & Highest and Best Use (Hondros Learning, 2005)
- Residential Report Writing
- Subject and Catalog Number: XREA 984
Students will gain an overview of Residential Appraisal Report forms and formats, with a concentration on form reports most often encountered, and they will learn how to use the URAR form reports in compliance with USPAP (Uniform Standards of Professional Appraisal Practice) and other guidelines and standards. Sources for comparable sales, flood maps, census tract maps and local data will be detailed. Using software examples and class discussion, the course provides a working knowledge of this subject.
Topics:
- Data collection, sales comparison, cost and income approaches, and reconciliation and addenda for the URAR (Using Residential Appraisal Report)
- Exterior-only reports for drive-by appraisals
- Appraisal update, completion report
- Residential appraisal review report
- Other form appraisal report types
This course provides 15 hours of basic education for those seeking to enter the appraisal field.
The course is structured to comply with the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
Required Text: Residential Report Writing (Hondros Learning, 2005)
- Residential Site Valuation and Cost Approach
- Subject and Catalog Number: XREA 985
This course provides an overview of real estate appraisal concepts relating to the Cost Approach to Value and its relationship to residential site valuation. The student will learn theories and methods for obtaining residential site values and how to apply the Cost Approach in residential appraisal assignments. Through examples, case study analysis and discussion, students will gain a working knowledge of this field.
Topics:
- Basic concepts of land and value
- Data collection and analysis
- Site valuation
- Reasons for separate site valuation
- The Cost Approach to appraisal
- How costs are calculated
- Depreciation estimating
- Final Cost Approach analysis
This course provides 15 hours of basic education for those seeking to enter the appraisal field.
This course is structured to comply with the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
Required Text: Residential Site Valuation and Cost Approach (Hondros Learning, 2005)
- USPAP 15-Hour National Course
- Subject and Catalog Number: XREA 986
This course focuses on the Uniform Standards of Professional Appraisal Practice (USPAP) and is designed to comply with the most recent requirements for State-certified appraisers. It is offered to licensed and certified appraisers needing to fulfill the biannual USPAP update requirement for license renewal.
Topics:
- Responsibilities of the appraiser, broker and lender in real estate transactions
- Professional industry standards
- Professional reporting standards
- Disclosure principles
- Ethical conduct
The approved student manual will be provided in class. The cost of the student manual is included in the course fee.Students must bring the current annual edition of the USPAP to class. It may be purchased from The Appraisal Foundation, phone number (800) 348-2831.
Related Courses
- Applied Appraisal Techniques
- Subject and Catalog Number: XREA 987
Students will go into the field to apply appraisal principles and value a single-family/one-to-four unit type of property. The class includes on-site property inspection and measurement, data search and verification, physical data verification and comparison, cost analysis and final property valuation. Emphasis is on the steps required to develop "physically" and produce an appraisal. Different methods of report packaging and production will be discussed.
The final examination will be the student's completion of the two-page Uniform Residential Appraisal Report with attachments (pictures, maps, etc.)
Students need to provide their own transportation to and from designated field study locations. Unless pre-arranged, each class meeting will begin on campus. After the first class, students need to bring a clipboard, graph paper and a 100-foot tape measure to class.
There is no required text for this course. However, students who have attended Real Estate Appraisal certificate program classes will find previous course materials helpful.
The instructor will supply appraisal forms.
This course is not granted credit by OREA under the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
- Appraisal Exam Prep
- Subject and Catalog Number: XREA 988
This review course is designed for students who have completed their basic education. Students will uses study aids and practice exams to master test-taking techniques in this class, which focuses on exam topics and concepts that students need to know to pass the state appraisal license exam.
Topics:
- Influences on real estate
- Legal considerations in appraisal
- Types of value
- Economic principles
- Real estate markets and analysis
- Valuation processes
- Property descriptions
- Highest and Best Use Analysis
- Appraisal math and statistics
- Sales comparison approach
- Site value
- Cost approach
- Income approach
- Valuation of partial interests
- Appraisal standards and ethics
This course is not granted credit by OREA under the curriculum requirements of the 2008 AQB/Office of Real Estate Appraisers.
Required Text: Appraisal Review Crammer (Hondros Learning, 2006)
18111 Nordhoff Street, Northridge, CA 91330-8434 / Phone: 866-873-6439 / © 2007 The Tseng College, CSUN
