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This 1-day seminar is intended to reinforce the concepts of the Income Approach and its application to the overall appraisal process. The seminar introduces improved techniques for estimating the value of income-producing rural property by converting anticipated benefits into property value. The seminar is intended to not only review the various formulas and procedures utilized for deriving various rates of return, but to develop an understanding of the inner workings of these derived rates such that the appraiser can more accurately interpret market movements. An American Society of Farm Managers and Rural Appraisers course, this will be a good update for General and Residential certified appraisers who need to brush up on income applications in the appraisal process.
The Commission will provide an update on recent rule amendments and other topics of interest. Mr. Jacobs will speak on Missouri's complaint and discipline process and the most common errors and misconduct leading to the discipline of real estate appraisers.
The role(s) of the appraiser in litigation, types of litigation, differences between typical reports and litigation reports, the legal basis for admissible evidence and use of exhibits. Information concerning cross examination, direct testimony and appraiser credibility.
An overview of site valuation and the cost approach with emphasis on technique, documentation and reporting – a real hands-on appraiser’s course cast in the light of MREAC requirements. Taught by two seasoned appraisers, Julie Molendorp and Rick Bobbitt, this cost course will prove invaluable to all who attend; additional emphasis on USPAP and FNMA requirements.
Fannie Mae revised 11 of its appraisal forms. Let's look at the 1004, 1004MC, 1004C, 1004D, 2055, 2065, 2070, 2075, ERC, etc. and review any changes or problem areas. A comprehensive review of the 1004MC form will be done and a case study example worked. Students will be given a free spreadsheet to use when MLS data is not available and a free software program to extract data from your MLS into the 1004MC form. The program works with most (not all) MLS systems. Concerned about liability, especially when doing drive-bys? What can the appraiser do or say in the report to limit one's liability? Be informed!
This course is designed to provide a comprehensive review of the current publication of USPAP. The preamble, definitions, rules, ten standards, statements and some of the advisory opinions are reviewed. Students are required to bring a readable electronic or paper copy of the 2010-11 USPAP.
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