Gray, TN October 26-27, 2023

Course Description
This course covers several aspects of appraising proposed construction or renovations of a luxury home. It is expected that students taking this course are already familiar with the cost approach to value and the fundamentals of appraising new construction properties. Learn the key elements for successful completion of these appraisal assignments and the special issues involved with appraising proposed custom luxury homes.  Examples and illustrations are included to enhance the learning experience.
Course Highlights
• Recognize the essential components and the different types of construction drawings. 
• Recognize the most common and significant variables that impact construction costs.
• Explain how renovations and remodels of luxury homes may positively or negatively affect value.

Market analysis is a fundamental cornerstone in completing a credible appraisal.  This course is intended to assist appraisers in understanding the need for and requirements to develop a sound market analysis in residential appraisal reports.

Special emphasis will be given in researching and analyzing markets in atypical scenarios and cycles such as areas impacted by environmental disturbances such as hurricanes and fires and economic turbulences such as real estate bubbles and busts. 

The course begins with a brief discussion as to why a market analysis is an integral part to the appraisal process and is followed by numerous case studies showing research, analysis and reporting strategies

HUD’s Single Family Housing Policy Handbook, also known as Handbook 4000.1 was released several years ago, yet many appraisers still struggle with minimum property requirements (MPR) for existing houses. The materials for this course include many photographs that provide examples of actual property deficiencies encountered by appraisers.  

Upon completion of this course, participants will be able to:  
•               Explain the rationale behind minimum property requirements
•               Summarize the appraiser’s obligations regarding reporting of property deficiencies 
•               Recognize minimum property requirements related to location, site, and improvements