The Cost Approach (Florida version)

7-hr Elective Appraisal Continuing Education

Florida law requires Registered, Licensed and State Certified Appraisers, licensed prior to November 30, 2007, to complete 30 hours of state approved continuing education before November 30, 2008.

This course provides an in depth look at developing a Cost Approach for residential appraisals. The six methods of site valuation are illustrated and explained.
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. There is a required one hour exam at the end that must be taken in a monitored classroom setting.

Approved by the Appraiser Qualifications Board (AQB) of The Appraisal Foundation as course 0007978.

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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Your purchase includes:

The Cost Approach (Florida version)

Elective Florida Real Estate Appraiser Continuing Education
 

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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