Hours: 3.5 CE
The seminar will go through the valuation process identifying any/all areas where competency in performing mathematical calculations is necessary. Beginning with a review of the property's legal description, the appraiser will compare it to the survey (if available) for reasonableness. Next, the appraiser will calculate site and building areas using examples varying from simple to complex (many angles, etc.). Simple regression/interpolation will be taught to all using the HP 12C calculator, which can be used in deriving daily cost factors using Marshall & Swift, etc. Attendees will then calculate annual percent depreciation rates from market sale information. Several mathematical derivations will be worked in the Sales Comparison Approach including: cash equivalency analysis, time adjustments (compounded and non-compounded), etc.
In the Income Approach, the six functions of a dollar will be reviewed, along with other mathematical applications. Equations will be analyzed to develop percentage adjustments, etc.
The seminar will benefit all appraisers (residential and non-residential).