ILR1-08 Course Description   |   ILR2-08 Course Description   |   USPAP Course Description

ILR2-08, the follow-up course to AIAREE Basic Appraisal Principles, covers the entire valuation process. The course provides the student with a “hands on” type experience through a sales comparison case study, using “paired sales analysis” for extracting data from the market. The Cost Approach and Income Approaches (Direct Capitalization and Multiplier Method) are further explained and utilized. The Income approach and direct capitalization techniques are explained. The reconciliation process and the step-by-step preparation of a residential appraisal report on the URAR form are also covered. The student learns statistical concepts, and gets a basic introduction to using a financial calculator for appraising.*

• Review of principles and the appraisal process
• Appraisal mathematics
• Site valuation
• Sales comparison case study (paired sales methodology)
• Cost approach and depreciation
• Income approach and direct capitalization
• Reconciliation, final value estimate, and residential appraisal report writing
  (on the URAR appraisal form)
• Use of financial calculators in appraising (*basic introduction to student- provided Hewlett Packard 12-C calculator)
• In addition to passing tests associated with the courses, students must apply to the state and pay application/testing fees to take the Associate Real Estate Appraiser exam (approximately $300).

* Students are to purchase the Hewlett Packard 12-C financial calculator, and should spend a minimum of two hours becoming familiar with the HP 12-C calculator prior to class.

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Click here to enroll in ILR2-08