Residential Market Analysis and Highest & Best Use

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The Residential Market Analysis and Highest and Best Use qualifying education course 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 is 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 have been identified in the course 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 for the student’s understanding. The components of analysis to be used in the determination of highest and best use for a given property are set out and outlined for the student.  Several in-depth case studies and application-based exercises are presented to further demonstrate this analysis process.  A basic calculator is recommended for this course. 

This course will provide a basic knowledge of the market fundamentals, characteristics, and definitions used in the analysis of the market. The course will provide for the basic understanding of the supply side and demand side characteristics prevalent in the market place. The information presented herein is divided between reading assignments and application of the material with frequent assessments within each chapter, plus a summative assessment at the end of each chapter.  The case studies provide further practical applications for the information presented in this course. 

Chapter list:

1. Market Fundamentals, Characteristics, and Definitions
2. Market Analysis
3. Using the Market Analysis
4. Highest and Best Use
5. Case Studies for Highest and Best Use
6. Conclusion