Residential Sales Comparison and Income Approaches

• Recognize the relationship between the sales comparison and income capitalization approaches and the rest of the valuation process.
• Extract and support adjustments using paired data analysis.
• Extract and support adjustments using income analysis.
  
• Extract and support adjustments using cost and depreciation analysis.
  
• Apply the adjustment techniques most appropriate for given data. 
• Calculate appreciation rates for the subject property and comparable sales.
• Use the estimated gross monthly market rent and the reconciled GRM to derive a value indication from the income capitalization approach.
• Apply the reconciled GRM to the gross monthly rent estimate to derive a value indication for the subject property by the income capitalization approach.
• Derive an indication of value by the sales comparison approach.

Program Overview:
Table of Contents and Overview
Course Schedule

Assignments:

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.
• Free Review: Using a Financial Calculator: Formulas, Symbols, Math Review, and Sample Problems; and Financial Calculator Practice Exercises.
• For additional help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
• HP-12C calculator User’s Manual.
  

Additional Information:

Course Materials Include:

• Course Handbook (456 pp.)
• Case Studies Packet (12 pp.)
• Solutions Booklets (112 pp.)

You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.

• Basic Appraisal Principles
• Basic Appraisal Procedures
• National Uniform Standards of Professional Appraisal Practice (USPAP) Course, 15-Hour

• Residential Property Appraisal
• The Appraisal of Real Estate. 15th ed.
• The Dictionary of Real Estate Appraisal, 7th ed.