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COURSE
DESCRIPTIONS FOR REALETECHS' APPRAISAL PRE-LICENSING/CERTIFICATION COURSES
BAPRI & BAPRO must be completed sequentially (the 15-hour USPAP course
may be taken any time after BAPRO) and satisfactory completion of all
four R courses will qualify the student to take the trainee and residential
appraiser licensing examination. The
G Series requires Completion of R-1, 2 & 3 & the 15-Hour National
USPAP Course & must be taken sequentially.
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Below to jump to the course description
Introduction
to Real Estate Appraisal (R-1) 30 hrs. $510.00
This course introduces
the student to the subject of real estate appraisal and prepares the student
for the R-2 course on "Valuation Principles and Procedures".
It begins with coverage of basic real property law, followed by coverage
of the various concepts of value and the operation of real estate markets.
Relevant mathematical concepts are then reviewed and the student is introduced
to statistical concepts used in appraisal practice. Next comes the coverage
of real estate financing terminology and practice, followed by an introduction
to the basics of residential construction and design. The student is then
provided an overview of the entire valuation (appraisal) process, and
the course concludes with specific coverage of residential neighborhood
analysis, two of the most important steps in the appraisal process.
Valuation
Principles and Procedures (R-2) 30 hrs. $510.00
This course focuses
on the procedures (methodology) used to develop an estimate of property
value and how the various principles of value relate to the application
of such procedures. Emphasis is in appraisal of residential 1-4 unit properties
and small farms: all the concepts and procedures covered are applicable
to the appraisal of all types of properties. The course begins with a
review of the appraisal process and proceeds into thorough coverage of
the sales comparison approach, followed by site valuation methods used
to appraise 1-4 unit properties. The cost approach is then covered in
depth. The basic concepts and methodology associated with the income approach
are covered, with emphasis on direct capitalization using an overall rate
and the gross rent multiplier technique. Finally, the student is introduced
to the process of reconciling property value estimates obtained through
application of the approaches to value.
Applied
Residential Property Valuation (R-3) 15 hrs. $375.00
This course covers
laws, rules and standards which must be followed by appraisers and focuses
on the application of principles and practices to the appraisal of residential
1-4 unit properties and small farms. The student is first acquainted with
federal laws/regulations applicable to appraisers and the provisions of
the North Carolina Real Estate Appraisers Act and related Commission Rules.
Next comes coverage of appraisal reports, with emphasis on standard report
forms. The student then participates in a comprehensive case study of
an appraisal of a single-family house using the URAR form. Instruction
is then provided on various special considerations in appraising other
types of residential 1-4 unit properties and in appraising farms. Finally,
the student is introduced to appraising special (partial) property interest
and to condemnation appraisal.
15-Hour
National USPAP Course $510.00
This
course focuses on the requirements for ethical behavior and competent
performance by appraisers that are set forth in the Uniform Standards
of Professional Appraisal Practice (USPAP). This course is unique
in that it was developed in 1998 and revised annually for The Appraisal
Foundation with assistance from the eight Appraisal Sponsoring Professional
Organizations for use nationwide.
In addition
to lectures, the course includes Discussion Examples that show how USPAP
applies to situations that appraisers encounter in everyday practice.
These examples address issues frequently experienced by appraisers as
professionals in the appraisal of real property, personal property, and
businesses or intangible assets, in appraisal review, and in real property
appraisal consulting assignments.
This
course is required for application to the North Carolina Appraisal Board
for Trainee registration, Appraiser Licensure or Certification.
If all R-Series courses
are to be taken, a fee of $1750 may be paid in advance of the R-1 start
date, a savings of $155.
R-1
through 3 require the purchase of "Basic
Appraisal Principles", "Basic Appraisal Procedures" and
"Residential Report Writing" from Hondros Learning (Available
at Realetech for $90.00). The G courses require "Appraisal of Real
Estate", Twelfth edition from the Appraisal Institute and an HP Financial
Calculator.
Introduction
to Income Property Appraisal (G-1) 30 hrs. $470.00
This course introduces
concepts and techniques used to appraise real estate income properties.
It begins with a discussion of underlying economic principles and motivations
for investing in income property, The appraisal process is then reviewed
with emphasis on income property. This is followed by a discussion of
real estate market analysis, property analysis, and site valuation. Mathematical
and statistical concepts used in the appraisal of income property are
covered next followed by coverage of how to use financial tables and/or
financial calculators to solve a variety of problems associated with analysis
of real estate income properties, including present value, loan calculations,
estimation of net operating income, and estimation of before tax cash
flow. Next students are introduced to other capitalization rates.
Advanced Income Capitalization Procedures (G-2) 30
hrs $470.00
This course reviews
and then expands on the concepts introduced in Course G-1. The direct
capitalization techniques introduced in G-1 are expanded to include various
band of investment and residual techniques used in income property appraisal.
This is followed by a thorough discussion of the concepts of yield rates
and of discounted cash flow analysis (yield capitalization), which is
the primary focus of this course. Financial leverage is also discussed
so students better understand the relationship between various yield rates
and capitalization rates. Several traditional yield capitalization formulas
including Inwood, Hoskold, Ellwood and Akerson, are then discussed. Although
rendered obsolete by the advent of financial calculators, these formulas
are still used by many appraisers and students should be familiar with
them. A financial calculator is required for this course.
Applied Income Property Valuation (G-3) 30 hrs $470.00
This course covers
laws, rules and standards which must be followed by appraisers and focuses
on the application of principles and practices to the appraisal of income
properties. The course begins with a review of federal laws/regulations
applicable to appraisers, followed by coverage of the North Carolina Appraisers
Act and coverage of the Uniform Standards of Professional Appraisal Practice
(which are part of the Board's rules). Preparation of narrative appraisal
reports is then covered, with students also being introduced to the Uniform
Commercial and Industrial Appraisal Report (UCIAR) form. Coverage then
shifts to appraising leased income properties, with emphasis on the effect
of various lease provisions on the value estimate. The student then participates
in highest and best use case studies, followed by case studies of appraisals
of various types of existing income properties, which is the major focus
of the course.. The course concludes by covering considerations in appraising
various development projects.
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APPRAISER
CONTINUING EDUCATION COURSES
7-Hour
National Uniform Standards of Professional Appraisal Practice, Update
Course, $179.00
This
course focuses on recent changes to USPAP requirements for ethical behavior
and competent performance by appraisers. It also includes some commonly
misunderstood aspects of USPAP. This course assumes the participants
have previously had a 15-hour USPAP course.
This
course is designed to aid appraisers in all areas of appraisal practice
seeking updated competency in USPAP, including those subject to state
licensing or certification and continuing education requirements imposed
by professional organizations, client groups or employers.
The
national USPAP courses require the purchase of the current version of
USPAP, course cost includes the corresponding 15 or 7 hour student manual
(requires advanced registration). Orders can be placed with the Appraisal
Foundation by calling 1-800-348-2831. Order these well in advance of
the course date to assure delivery and avoid rush shipping charges.
Fannie
Mae Guidelines for Appraisers $139, 7-Hours
This
course provides an overview of Fannie Mae Guidelines for real estate
appraisers. It specifically covers the Fannie Mae Uniform Residential
Appraisal Report (URAR) Form 1004 and how appraisers performing reports
are expected to address market and appraisal issues using this common
form. Additional Fannie Mae forms will be discussed, including addressing
USPAP reporting requirements and what steps the appraiser can take to
make these forms USPAP compliant.
Upon
completion of the course attendees will be knowledgeable of Fannie Mae
Appraisal forms and how they should be filled out. Students will have
a better understanding of form reports and understand USPAP reporting
requirements that will be required to make the forms USPAP and NCAB
compliant.
Attendees Receive:
1. Fannie Mae Handbook for Appraisers
2. URAR Form 1004
Appraisers
and Residential Reviews $139, 7-Hours
This
course provides an overview of the residential appraisal review process
and focuses on the techniques, responsibilities and requirements of
reviewers. This is accomplished by an in-depth discussion of USPAP Standards,
Statements and Advisory Opinions. There will be an analysis of desk
reviews and field reviews, reviews with new value opinions and reviews
of properties where there is no new opinion of value.
In
addition, an in depth analysis of the most common and recent review
forms will be performed. There will also be discussion of these forms
compliance with USPAP's reporting and development requirements from
Standard 3.
Course
attendees will gain an in-depth understanding of reviews, and establish
a foundation for performing independent, impartial and objective appraisal
reviews.
Attendees
Receive:
1. Copy of FIRREA appraisal law
2. Copy of the Appraisal Rules, Office of the Comptroller of Currency
3. Copy of Uniform Residential Appraisal Report form
4. Copy of FNMA Test Form 2000
5. Copy of Uniform Review Appraisal Report
Introduction
to Environmental Risk Screening
$139, 7-Hours
This course provides an overview of global environmental problems, including
global warming, destruction of forests and depletion of ozone. It includes
information about national and local problems including hazardous waste
sites, acid rain, wetlands & flood plains, drinking water and waste
disposal.
Upon
completion of the course attendees will be knowledgeable of major global
environmental problems. They will be knowledgeable about environmental
aspects of hazardous waste sites, wetlands, flood plains, drinking water
and sanitary waste disposal. There will be discussion of addressing
issues in appraisal reports, the extent of responsibility the appraiser
has in identifying potential hazardous environmental conditions, and
identifying the impact on value that a known environmental hazard has
What
The North Carolina Appraisal Board Expects From You $85, 4-Hours
This course provides an overview of the North Carolina Appraisal Board
Rules and the North Carolina Appraisers Act. This is accomplished by
an in-depth discussion of North Carolina General Statute 93E Chapters
1-14 and Section 57A-C of the Occupational Licensing Boards', Real Estate
Appraisal Board rules.
There
will be discussion of common violations of Appraisal Board Rules as
they relate to General Appraisal Practice. Course attendees will gain
an in-depth understanding of Appraisal Board Rules & the North Carolina
Appraisers Act.
Attendees
Receive:
1. Copy of North Carolina Appraisal Board Information and Application
Booklet
AQB's
FAQ's Part I 7 hour (descriptions coming soon) $139
AQB's
FAQ's Part II 7 Hour $139, $260 for both,
includes FAQ Book
Fundamental
Appraisal Principles Part I
(Crammer Course) 7 Hour $139
Fundamental
Appraisal Principles Part II
(Crammer Course) 7 Hour, $139,
$260 for both,
Paired
Sales Analysis 4 Hour, $85
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