Course Information
           
 
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Course:

Basic Appraisal Principles

SAP Course Number:

78TECH400039

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Course can be found when searching
"By Topic" under these categories:

Right-of-Way/Acquisition/Appraisal



Class Schedule


No Offerings Are Currently Scheduled









General Information

Summary:
Basic Appraisal Principles is designed as an introductory course for individuals preparing for a career as a valuation professional. The course provides the first 30 hours of qualifying prelicensure education, which is commonly required by states for individuals seeking appraisal licensure.
The course uses experienced instructors to guide participants through introductory economic concepts. Participants learn the basic appraisal principles that can be used to build a solid foundation for an ethical and competent appraisal practice. Concepts such as highest and best use, the time value of money, and the nature of value are explored through instructor-led discussion. Real-world type problems are introduced to aid participants in developing their problem-solving skills.

Learning Outcomes:
Recognize the components of ethical and competent appraisal practice.
Recognize the distinctive differences among land, real property, real estate, and personal property.
Recognize and identify the three major land description systems.
Recognize the major components that appear in all definitions of market value.
Recognize the definitions of the economic principles of change, anticipation, supply and demand, competition, substitution, balance, externalities, and highest and best use.
Solve basic real estate math problems in fractions, decimals, and percents.
Solve for mean, median and mode.
Use a financial calculator to perform mortgage calculations and to solve problems in simple and compound interest.
Recognize the definitions of appraisal practice, valuation services, appraisal review, and appraisal consulting.
Identify the basic components in the appraisers scope of work decision.

Teaching Method:
Instructor Lead

Target Audience:
Beginning appraisers, real estate professionals, users of appraisal services, college students, accountants

Final Exam:
Yes



Continuing Education Credits


PA Board Approved
CEHs
Classes
After
 
CEUs
Classes
After
 
PDHs
Classes
After
 
Initial Real Estate Appraisal:
30.00
04/05/12
Continuing Real Estate Appraisal:
30.00
04/19/12

Awarding continuing education credits (PDH/CEU/CEH) to a training course or other training event does not imply or guarantee that the training course/event is approved by the Pennsylvania State Registration Board of Professional Engineers, Geologists and Land Surveyors.

According to Pennsylvania Act 25, “Credit determination for activities…shall be the responsibility of the licensee.  Continuing professional competency obtained by a licensee should maintain, improve or expand skills or knowledge obtained prior to initial licensure, including law and ethics applicable to the profession, or develop new and relevant skills and knowledge.”

For informational purposes only:1 CEU is equal to 10 hours of instruction
1 CEH is equal to 1 hour of instruction



Course Contact Information

                    For technical questions regarding this course, contact the following...
Name:
Kimberly Rice
Phone:
(717) 783-4722
Email:
kirice@pa.gov

                    For general questions about the Training Calendar (such as those regarding schedules,
                    locations, instructors or registrations), see Contact Information in specific classes.
 
Created
Last Modified
By Julie A Bradley/PennDOT
On 08/24/10 At 03:40 PM
By Peggy A Trevenen/PennDOT
On 08/04/14 At 09:25 AM