15 Hour USPAP 2007-2008 - Uniform Standards of Professional Appraisal
Licensed appraisers should not register for a 15-hour USPAP class until they familiarize themselves with the new USPAP UPDATE requirements.
It''s the Law! All real estate appraisers must comply with USPAP regulations in accordance with the Financial Institutions Reform, Recovery and Enforcement Act of 1989. State Appraiser Certification and Licensing Boards; federal, state and local agencies; appraisal services; and appraisal trade associations require compliance with USPAP. The National Uniform Standards of Professional Appraisal Practice (USPAP) material is designed to aid appraisers in all areas of appraisal practice seeking competency in the USPAP. This course is intended to fulfill the 15 hour requirement as established by the Appraisal Qualifications Board (AQB) of The Appraisal Foundation. This course is approved for 15 hours of primary credits in MA, NH, CT, ME and RI.
7-Hour USPAP 2014-2015 National Update Course
NOTE: -THIS CLASS IS REQUIRED FOR CONTINUING EDUCATION CREDIT FOR ALL APPRAISERS. TO RENEW A LICENSE, ALL MASSACHUSETTS TRAINEES, LICENSED & CERTIFIED APPRAISERS MUST COMPLETE A 7 HOUR USPAP UPDATE COURSE WITH EACH NEW EDITION OF USPAP. MOREOVER, ALL LICENSEES MUST COMPLETE A USPAP UPDATE COURSE AT A MINIMUM OF EVERY 24 MONTHS!! The 7-hour course material focuses on the changes to the 2008-2009 edition of the Uniform Standards of Professional Appraisal Practice (USPAP). It also addresses common misunderstandings about USPAP. This course is intended to fulfill the 7-hour requirement as established by the Appraisal Qualifications Board (AQB) of The Appraisal Foundation and is approved for 7 hours of continuing education credits in MA, ME, NH, CT and RI.
BASIC APPRAISAL PRINCIPLES
This basic appraisal course provides an overview of real property concepts and characteristics, legal considerations, value influences, real estate finance, types of value, economic principles, real estate markets and analysis, and ethics in appraisal theory. Through theory and examples, the course offers practical application of appraisal principles. A calculator is recommended. Approved in NH, RI, CT, MA & ME.
BASIC APPRAISAL PROCEDURES
This basic appraisal course provides an overview of real estate appraisal approaches to value, valuation procedures, property description, residential applications, commercial applications, improvement construction, home inspection, and appraisal math. Through theory and examples, the course offers practical application of appraisal procedures. A calculator is required plus the student should possess the knowledge of how to use it. Approved in MA, NH, RI. ME & CT.
Income Property Appraisal
The purpose of this course is to familiarize the student with the underlying theory behind the income approach to value. Through practical, hands-on examples, the student will apply recognized techniques used by appraisers to value several types of income producing properties. Throughout the course, special emphasis is placed upon the direct effect which financing has on a property''s investment potential and upon the investor''s expectation of return on invested capital. Topics include income and expense analysis, lease analysis, investment return measures, and property valuation through direct capitalization, discounted cash-flow analysis, and yield capitalization. An HP-12C financial calculator is recommended. This course is approved for 33 hours of primary credits in New Hampshire and 30 hours of primary credits in Massachusetts, Connecticut, Maine and Rhode Island and 30 hours of continuing education credits in New Hampshire, Massachusetts and Connecticut, 27 hours of continuing education credits in Maine, and 20 hours of continuing education credits in Rhode Island.
Investment Analysis for Appraisers
The purpose of this course is to allow the student to develop skills that are essential to analyzing real estate income property investments. Techniques used by real estate investors and appraisers are introduced and illustrated with numerous examples. The concepts discussed are applicable to all types of properties including small residential rental properties, apartment and office buildings, hotels/motels, shopping centers and other income property investments. The techniques are applicable for many purposes, including appraisal, lease negotiations, refinancing, and analysis for purchase, sale or lease by a broker, property manager, consultant, or investor.
Topics covered include an introduction to income property valuation, use of compound interest and discount factors, cash-flow forecasting, investment return calculations, evaluation of mortgage financing, risk analysis, and tax considerations in investment analysis.
Student Materials: HP-12C Financial Calculator or its equivalent required with knowledge of its use.
Now approved in the state of MA NH, ME, CT and RI.
Residential Appraiser Site Valuation and Cost Approach
The purpose of the course is for the student to gain valuable insight into and a working knowledge of the various theories and methodologies for arriving at residential site values and ways to apply the Cost Approach in everyday appraisal work. The advantages and disadvantages of using the cost approach in residential appraising will be examined; the distinction between replacement cost versus reproduction cost will be discussed; along with an in-depth look at several methods for estimating accrued depreciation. Each student will complete a step-by-step case study utilizing the Marshall and Swift Residential Cost Manual. Approved for primary and continuing education credit in MA, RI, CT, ME and NH.)
Residential Market Analysis and Highest and Best Use
Identifying and analyzing market forces affecting the buyers’ and sellers’ behavior is key to understanding and reporting values. This course is designed to give students the tools needed to properly collect and analyze market data. Markets, sub-markets, market segmentation, supply side analysis, demand analysis and the importance of market analysis to the appraisal process are covered in the first half of this course. The second half focuses on the theory of Highest and Best Use. The two-step analysis along with the four tests for Highest and Best Use are covered in detail. Drill problems and a short case study allow students to put into practice the techniques presented in the course. Approved for primary or continuing education credit in MA, NH, RI, CT & ME.
Residential Report Writing and Case Studies
This basic appraisal course introduces theories, techniques, and procedures to help the student understand the appraisal process and how to use various residential forms and reports for appraisal. Through theory and hands-on examples of appraisal processes, the course will provide practical application of real estate appraisal procedures. A calculator is suggested. Approved for primary and continuing education credit in MA, NH, RI, CT & ME.
Residential Sales Comparison and Income Approaches
The student will gain a basic understanding and knowledge of the Sales Comparison and Income Approaches to value as they apply to residential properties. The course includes the valuation principles and procedures applicable to both approaches. With the aid of case studies, students will develop and apply the techniques for market analysis, including the application and use of matched pairs and capitalization rates and gross rental multipliers. There will be a discussion on cash and finance equivalency. Students will learn how to apply and defend the rationale behind market adjustments. The course will include a discussion of current Fannie Mae and Freddie Mac Guidelines and relevant USPAP requirements and introduce students to the methods of appraising income properties. A financial calculator and knowledge of its use is suggested. Approved for primary and continuing education credit in MA, ME, NH, CT and RI.
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