Residential Market Analysis and Highest & Best Use
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The Residential Market Analysis and Highest and Best Use qualifying education course of instruction will acquaint the student with the basics of analysis. The student will learn some of the methodology and techniques used by appraisers to extract information from the marketplace. Some of the definitions and terminology commonly used in the analysis of market trends and conditions are presented for the student’s benefit. Several discussion type exercises have been included to further challenge the student’s proper interpretation of data gathered from the marketplace. General type data and specific type data examples are identified in order to provide the student with the different areas of available research for data. The theory of Highest and Best Use and the theory of Consistent Use are defined and explored. The components of analysis to be used in the determination of Highest and Best Use for a given property are set forth. Several class discussion problems and application based exercises are presented to further demonstrate this analysis process. A basic calculator is recommended for this course.
This course will discuss fundamentals of the markets, market characteristics, and definitions used in analysis of the market. Additionally, it will provide basic understanding of the supply side and demand side characteristics prevalent in the marketplace. The information presented herein is divided between reading assignments and application of the material, with word problems for the student. General discussion questions provide the necessary feedback to the student for the covered material. Case studies give further practical applications for the information presented.
In addition to the end-of-chapter quizzes and final exam, this course contains mini-quizzes that will test the knowledge of the material throughout each chapter. The mini-quizzes will help prepare you for not only the end-of-chapter quiz, but also for the cumulative final exam at the end of the course.
There is a required one-hour proctored exam at the end that must be taken in a monitored setting.
- Chapter 1 - Market Fundamentals, Characteristics, and Definitions
- Chapter 2 - Market Analysis
- Chapter 3 - Using the Market Analysis
- Chapter 4 - Highest and Best Use
- Chapter 5 - Case Studies for Highest and Best Use
- Chapter 6 - Conclusion