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The Cost Approach
7-hr Elective Appraisal Continuing Education
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Illustrations and examples are offered of the three methods of cost estimation; Comparative Unit, Unit-in-Place, and Quantity Survey Methods. Detailed cost workups will be studied using Illustrations from the Marshall & Swift Residential Cost Handbook.
Then, the three methods of estimating depreciation (Age-Life, Market Extraction, and Breakdown Methods) will be examined in detail. All of these topics will be expanded through the use of helpful case studies and case problems.
Approved by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation and the state of Georgia as course approval 49930.
After you click the orange button, you will need to check the boxes for the courses you would like and click the "Enroll" button. On the next page, you will need to click the "Register" link from the right side as a new user to create an account and begin your course.
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Sale Price: $99.00 $129.00 |
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What Students Will Learn:
- How to differentiate between land and site
- The differences among the Metes and Bounds system, Government Survey system and the Lot and Block system of land description
- How to calculate the area of regular and irregular sites
- Common factors in site analysis
- Different kinds of public and private restrictions on land or site use
- Resources for gathering site data
- The most common units of comparison in site valuation
- The differences between excess land and surplus land
- How to calculate the value of a site using the six different methods of site valuation
- To recognize and summarize definitions relating to the Cost Approach
- When the Cost Approach is most applicable and least applicable
- The differences between Replacement Cost and Reproduction Cost
- How to find sources of cost data
- How to perform Cost Index Trending
- Complete an estimate of Replacement Cost using the Marshall & Swift Residential Cost Handbook
- The differences between the Unit-in-Place and Quantity Survey Methods of cost estimation
- How to describe the three kinds of depreciation
- How to define various kinds of estimated ages and lives for properties
- How to perform the Age-Life Method of estimating depreciation
- The elements of the Breakdown Method of estimating accrued depreciation
- How depreciation is classified as curable versus incurable
- The differences between short-lived and long-lived components of a structure
- How external obsolescence should be allocated between building and land components
- How to calculate accrued depreciation by the Market Extraction Method
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