The national, state and local housing markets have seen increasing prices for the majority of years that many practitioners have been in business. The past 12 months have seen house prices fall in numerous segments of this market. Falling markets require a level of analysis not necessary during increasing markets. The goal of this course is to sharpen the pricing skills of practitioners via the following;
- Identify the reasons for the existence of agents/appraisers
-Explain the Appraisal Process, which are the steps that appraisers take in the valuation of real property
-Explain the steps in the Sales Comparison Approach to Value
-Critique the various sources of public and private data available to practitioners and the general public
-Determine trends when analyzing data
-Integrate the above steps, outputs and trends to determine the correct price for a given house