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Part 1. Real Estate Markets and Analysis 8:359:05 9:059:10 9:109:20 9:209:25 9:259:35 30 minutes 5 minutes 10 minutes 5 minutes 10 minutes Overview: Market Analysis in Real Estate Appraisal Purposes of Market Analysis The Scientific MethodThe Recognized Approach Where Market Analysis Fits in the Valuation Process Review
Part 2. Types and Levels of Market Analysis 9:359:40 5 minutes Characterizing Market Analysis by Depth of Analysis Definitions Distinctions between the Two Levels of Market Analysis 9:409:45 9:459:55 9:5510:05 10:0510:15 10:1510:25 5 minutes 10 minutes 10 minutes 10 minutes 10 minutes Characterizing Market Analysis by the Way Demand Is Measured Inferred Demand Analysis Morning Break Fundamental Demand Analysis Levels of Market Analysis Level A Marketability Study Level B Marketability Study Level C Marketability Study Summary: Levels of Market Analysis 10:2510:35 10:3510:45 10.4510:55 10 minutes 10 minutes 10 minutes Determining the Level of Marketability Study Review Morning Break
Part 3. The Six-Step Process and Use of Market Analysis 10:5511:00 11:0011:05 11:0511:10 11:1011:20 5 minutes 5 minutes 5 minutes 10 minutes Overview of the Six-Step Process Used in Market Analysis Step 1. Analyze Property Productivity Step 2. Delineate the Market Area/Competitive Market Area Step 3. Project/Forecast Demand
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Part 3. The Six-Step Process and Use of Market Analysis (cont.) 11:2011:25 11:2511:30 11:3011:40 11:4011:45 11:4511:50 11:5012:00 12:001:00 5 minutes 5 minutes 10 minutes 5 minutes 5 minutes 10 minutes 60 minutes Step 4. Measure and Project/Forecast Supply Step 5. Calculate Marginal Demand Step 6. Project/Forecast Subject Capture Use of Market Analysis How to Determine the Adequacy of Market Analysis ReviewPractice Test Section 1 Lunch
Part 5. Level B Marketability Study for Suburban Residential Subdivision Property: Steps 1 and 2 2:152:20 2:203:00 3:003:10 3:103:25 3:253:35 3:353:40 3:404:00 4:04:10 4:104:25 4:254:30 4:304:40 4:405:00 5 minutes 40 minutes 10 minutes 15 minutes 10 minutes 5 minutes 20 minutes 10 minutes 15 minutes 5 minutes 10 minutes 20 minutes Introduction: Level B Marketability Studies for Suburban Residential Subdivisions Step 1. Analyze Property Productivity Afternoon Break Step 2. Delineate the Market Areas Review Suburban Residential Subdivision Demand Analysis Step 3. Measure Current Demand; Project Demand Afternoon Break Step 4. Measure and Project Competitive Supply Step 5. Calculate Marginal Demand Step 6. Project Subject Capture ReviewPractice Test Section 2
Part 6. Level B Marketability Study for Suburban Residential Subdivision Property: Steps 36
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Appraisal Institute General Appraiser Market Analysis and Highest & Best Use
Part 8. Level B Marketability Study for Multifamily Property: Steps 13 10:1010:25 10:2510:30 10:3010:35 10:3510:45 10:4511:05 11:0511:15 11:1511:20 15 minutes 5 minutes 5 minutes 10 minutes 20 minutes 10 minutes 5 minutes Case Study Property The Six-Step Process for a Level B Marketability Study for Multifamily Residential Properties Step 1. Analyze Property Productivity Step 2. Delineate the Market Areas Step 3. Measure Current Demand; Project Future Demand Morning Break Review
Part 9. Level B Marketability Study for Multifamily Property: Steps 46 11:2011:30 11:3011:35 11:3511:45 11:4512:00 12:001:00 10 minutes 5 minutes 10 minutes 15 minutes 60 minutes Step 4. Measure and Project Competitive Supply Step 5. Calculate Marginal Demand Step 6. Project Subject Capture ReviewPractice Test Section 3 Lunch
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Part 11. Level B Marketability Study for Office Property: Steps 13 1:502:00 2:002:10 2:102:25 2:252:35 2:353:00 3:003:10 3:103:20 10 minutes 10 minutes 15 minutes 10 minutes 25 minutes 10 minutes 10 minutes Office Building Case Study Description The Six-Step Process for a Level B Marketability Study for Office Properties Step 1. Analyze Property Productivity Step 2. Delineate the Market Areas Step 3. Measure Current Demand; Project Demand Afternoon Break Review
Part 12. Level B Marketability Study for Office Property: Steps 46 3:203:30 3:304:00 4:004:10 4:104:45 4:455:00 10 minutes 30 minutes 10 minutes 35 minutes 15 minutes Step 4. Measure and Project Competitive Supply Step 5. Calculate Marginal Demand Afternoon Break Step 6. Project Subject Capture ReviewPractice Test Section 4
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Appraisal Institute General Appraiser Market Analysis and Highest & Best Use
Part 14. Considerations in Highest and Best Use Analysis 9:409:50 9:509:55 9:5510:05 10:0510:10 10:1010:20 10:2010:30 10:3010:35 10:3510:40 10:4010:50 10:5011:00 10 minutes 5 minutes 10 minutes 5 minutes 10 minutes 10 minutes 5 minutes 5 minutes 10 minutes 10 minutes Two Considerations for the Highest and Best Use of Land and a Site as though Vacant The Ideal Improvement Morning Break The Special Issue of Consistency in Determining the Highest and Best Use of an Improved Site Alternative Use Decisions for Improved Property The Use-Decision Process Considerations Pertaining to Improved Property with Excess or Surplus Land Relationship between Use and Value Review Morning Break
Part 15. The Three Conclusions of Highest and Best Use Analysis 11:0011:10 11:1011:20 11:2011:30 11:3011:35 11:3511:45 11:4512:00 12:001:00 10 minutes 10 minutes 10 minutes 5 minutes 10 minutes 15 minutes 60 minutes Goal of a Highest and Best Use Analysis Analysis Required If a Use Is Not Currently Feasible Analysis of the Complete Highest and Best Use Flow Chart Interim Use The Most Likely Buyer/User ReviewPractice Test Section 5 Lunch
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Part 17. Applications of Market Analysis to the Three Approaches 3:454:05 4:054:15 4:154:30 4:304:45 4:455:00 20 minutes 10 minutes 15 minutes 15 minutes 15 minutes Sales Comparison Approach Afternoon Break Income Capitalization Approach Cost Approach ReviewPractice Test Section 6
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Appraisal Institute General Appraiser Market Analysis and Highest & Best Use
Part 19. Level C Marketability Study for Office Property and Data Sources 10:0010:05 10:0510:55 10:5511:05 11:0511:25 11:2511:50 11:5012:00 12:001:00 5 minutes 50 minutes 10 minutes 20 minutes 25 minutes 10 minutes 60 minutes Introduction to Level C Marketability Studies for Office Properties Additional Analysis Required for a Level C Marketability Study for an Existing Office Property Morning Break Additional Analysis Required for a Level C Marketability Study for an Existing Office Property (cont.) Data Sources Evaluations Lunch
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