Ncappraisalinstitute
Advanced Market Analysis and Highest & Best Use
Ncappraisalinstitute, Chicago, Illinois, United States, 60290
Advanced Market Analysis and Highest & Best Use
Combining the analytical processes of market analysis, highest and best use, and income valuation, this course is intended for those who have taken and passed the General Appraiser Market Analysis and Highest & Best Use course and have a thorough understanding of the mathematical and financial principles necessary to perform appraisals of income-producing properties. Building on the Level B marketability analyses that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability analysis using fundamental analysis and study several real estate markets in a fictional city. You’ll explore the economic base of the fictional city, which serves as the subject and example of both physical and economic forces that affect all communities and consequently all real estate. You’ll also work through four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that demonstrate both the power of fundamental market analysis and its application to highest and best use decisions.Note.
This course is in the Real Estate Analyst Professional Development Program.Who Should Enroll
Candidates for Designation who are working toward an MAI designationMAIs who want to enhance their knowledge and skill base in market analysis/highest and best useAI CE Points
Attend: 275 ptsAttend & Pass Exam: 375 ptsPass Only: 325 ptsCourse Objectives
Recognize the definitions of market analysis, market, market study, and marketability analysis.Recognize how market analysis applies to the determination of highest and best use.Identify ways of determining financial feasibility.Recognize applications of market analysis to the valuation process.Identify ways that social, physical, economic, and institutional support systems in urban areas ultimately determine land use.Identify the six basic steps used to conduct a marketability analysis.Complete rating grids about a subject property’s characteristics to draw conclusions about its competitive position.Recognize procedures for delineating a subject property’s market area.Forecast demand for office, apartment, condominium, retail, and industrial space.Conclude supportable demand for various property types.Calculate residual demand for various types of space.Forecast subject capture and draw conclusions about a property’s market rent and occupancy rate over a given time frame.Assignments:Yes. A pre-class, 2-hour online session.Equipment:A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.This course implements a blended learning approach which includes:Mandatory diagnostic test. Before enrolling in this or any other MAI designation course, you must take an Excel diagnostic to demonstrate your mastery of solving appraisal problems using spreadsheets. The diagnostic is intentionally designed to be challenging and ensure participants have adequate Excel skills before taking MAI designation courses. The diagnostic test is free and can be taken at any time on your personal computer.A pre-class, on-demand (self-paced) online session component. The on-demand component is available beginning 28 days before the live online (synchronous) course begins. The online component requires the completion of a pre-class assignment at least 2 days before the live online (synchronous) course begins.30 hours of live online (synchronous) education. Each live online session runs for 4.0 hours each day with at least 2 breaks during that time. The course runs for 8 half-days (Monday – Thursday) over 2 weeks.A 3-hour proctored exam at an offline testing center. You will have 90 days from the time that you complete the course to take the proctored exam.Location:This course will be held via live interactive classroom technology. See below for important participation requirements.Class Schedule:Class begins each day at 10:00AM Central time (8:00AM Pacific, 9:00AM Mountain, 11:00AM Eastern). Each class runs for four (4) hours each day with at least two breaks during that time. The course runs for eight (8) half-days.Times shown are U.S. Central (Chicago) time.Day 1: Tuesday, December 3, 10:00 am - 2:00 pmDay 2: Wednesday, December 4, 10:00 am - 2:00 pmDay 3: Thursday, December 5, 10:00 am - 2:00 pmDay 4: Friday, December 6, 10:00 am - 2:00 pm(No class on Friday, Saturday, or Sunday)Day 5: Tuesday, December 10, 10:00 am - 2:00 pmDay 6: Wednesday, December 11, 10:00 am - 2:00 pmDay 7: Thursday, December 12, 10:00 am - 2:00 pmDay 8: Friday, December 13, 10:00 am - 2:00 pmAI National Synchronous Participation Requirements:All students are required to have a computer, webcam, and microphone capability to participate and receive continuing or qualifying education credit where approved. It is the student’s responsibility to have the required equipment to participate and receive credit.For questions regarding these classroom participation requirements, contact the Appraisal Institute at sync@appraisalinstitute.org or call (312) 335-4473.
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Combining the analytical processes of market analysis, highest and best use, and income valuation, this course is intended for those who have taken and passed the General Appraiser Market Analysis and Highest & Best Use course and have a thorough understanding of the mathematical and financial principles necessary to perform appraisals of income-producing properties. Building on the Level B marketability analyses that were applied in General Appraiser Market Analysis and Highest & Best Use, you will perform Level C marketability analysis using fundamental analysis and study several real estate markets in a fictional city. You’ll explore the economic base of the fictional city, which serves as the subject and example of both physical and economic forces that affect all communities and consequently all real estate. You’ll also work through four case studies (apartment and condominium conversion, retail, industrial, and land with potential for mixed-use development) that demonstrate both the power of fundamental market analysis and its application to highest and best use decisions.Note.
This course is in the Real Estate Analyst Professional Development Program.Who Should Enroll
Candidates for Designation who are working toward an MAI designationMAIs who want to enhance their knowledge and skill base in market analysis/highest and best useAI CE Points
Attend: 275 ptsAttend & Pass Exam: 375 ptsPass Only: 325 ptsCourse Objectives
Recognize the definitions of market analysis, market, market study, and marketability analysis.Recognize how market analysis applies to the determination of highest and best use.Identify ways of determining financial feasibility.Recognize applications of market analysis to the valuation process.Identify ways that social, physical, economic, and institutional support systems in urban areas ultimately determine land use.Identify the six basic steps used to conduct a marketability analysis.Complete rating grids about a subject property’s characteristics to draw conclusions about its competitive position.Recognize procedures for delineating a subject property’s market area.Forecast demand for office, apartment, condominium, retail, and industrial space.Conclude supportable demand for various property types.Calculate residual demand for various types of space.Forecast subject capture and draw conclusions about a property’s market rent and occupancy rate over a given time frame.Assignments:Yes. A pre-class, 2-hour online session.Equipment:A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.This course implements a blended learning approach which includes:Mandatory diagnostic test. Before enrolling in this or any other MAI designation course, you must take an Excel diagnostic to demonstrate your mastery of solving appraisal problems using spreadsheets. The diagnostic is intentionally designed to be challenging and ensure participants have adequate Excel skills before taking MAI designation courses. The diagnostic test is free and can be taken at any time on your personal computer.A pre-class, on-demand (self-paced) online session component. The on-demand component is available beginning 28 days before the live online (synchronous) course begins. The online component requires the completion of a pre-class assignment at least 2 days before the live online (synchronous) course begins.30 hours of live online (synchronous) education. Each live online session runs for 4.0 hours each day with at least 2 breaks during that time. The course runs for 8 half-days (Monday – Thursday) over 2 weeks.A 3-hour proctored exam at an offline testing center. You will have 90 days from the time that you complete the course to take the proctored exam.Location:This course will be held via live interactive classroom technology. See below for important participation requirements.Class Schedule:Class begins each day at 10:00AM Central time (8:00AM Pacific, 9:00AM Mountain, 11:00AM Eastern). Each class runs for four (4) hours each day with at least two breaks during that time. The course runs for eight (8) half-days.Times shown are U.S. Central (Chicago) time.Day 1: Tuesday, December 3, 10:00 am - 2:00 pmDay 2: Wednesday, December 4, 10:00 am - 2:00 pmDay 3: Thursday, December 5, 10:00 am - 2:00 pmDay 4: Friday, December 6, 10:00 am - 2:00 pm(No class on Friday, Saturday, or Sunday)Day 5: Tuesday, December 10, 10:00 am - 2:00 pmDay 6: Wednesday, December 11, 10:00 am - 2:00 pmDay 7: Thursday, December 12, 10:00 am - 2:00 pmDay 8: Friday, December 13, 10:00 am - 2:00 pmAI National Synchronous Participation Requirements:All students are required to have a computer, webcam, and microphone capability to participate and receive continuing or qualifying education credit where approved. It is the student’s responsibility to have the required equipment to participate and receive credit.For questions regarding these classroom participation requirements, contact the Appraisal Institute at sync@appraisalinstitute.org or call (312) 335-4473.
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