Real Estate Course 3 meets the requirements of the 2008 Appraisal Qualifications Board of the Appraisal Foundation. It covers Advanced Residential Applications and Case Studies, as well as Residential Report Writing and Case Studies. This course meets the license requirements for all levels of appraisal licensure. It is required for the trainee license, residential license, certified residential license, and certified general license.

Units - 3.0

Upon successful completion of the required course work, the student will be able to:

1. define statistical concepts;

2. describe how statistics, valuation models and finance relate to real estate appraisal;

3. identify a variety of valuation models and methods of finance;

4. explain how automated valuation models (AVMs) and mass appraisals are used in real estate appraisal;

5. explain two ways the Federal Reserve controls the United States monetary supply;

6. compare and contrast Federal Housing Authorities (FHA) and Veterans Administration (VA)

programs;

7. list the key considerations for residential conforming and non-conforming properties;

8. demonstrate how to complete a Uniform Residential Appraisal Report (URAR) form;

9. identify and overcome common report writing problems.

A. Property, Ownership, and Market Conditions 6 hours

B. Deriving and Supporting Adjustments 6 hours

C. Residential Market Analysis 6 hours

D. Advanced Case Studies 6 hours

E. Writing and Reasoning Skills 9 hours

F. Common Writing Problems 3 hours

G. Form Reports 3 hours

H. Report Options and Uniform Standards of Professional Appraisal Practice (USPAP)

Compliance 3 hours

I. Case Studies 6 hours

(Without Final) TOTAL HOURS 48

The following instructional methodologies may be used in the course:

Huber W., Messick, L., IFAC, and Pivar, W. Residential Real Estate Appraisal,