Maricopa Community Colleges  REA284AC   19936-20086 
Official Course Description: MCCCD Approval: 07/22/08
REA284AC 19936-20086 LEC 0.70 Credit(s) 0.70 Period(s)
Residential Cost Appraisal
Reviews the three approaches to the valuation of real estate and focuses on the cost approach to appraising single family residential property.
Prerequisites: None.
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MCCCD Official Course Competencies:
 
REA284AC   19936-20086 Residential Cost Appraisal
1. Discuss basic principles of value in real estate. (I)
2. Demonstrate knowledge of different methods of appraising. (I)
3. Demonstrate a working knowledge of the basic principles and techniques used for site inspection, analysis, and valuation cost approach. (III)
4. Perform basic mathematical calculations essential to the cost approach to appraisal of residential real estate. (III, IV, VII, VIII)
5. Describe basic construction features of improved property. (IV, V, VII, VIII)
6. Explain the importance of functional interior design, circulation areas, and construction details. (IV, V)
7. Describe and use the contents of a data bank. (V, VI, VII, VIII)
8. Outline the steps in and demonstrate a working knowledge of the cost approach to determining value. (II, IX)
9. Complete an actual cost approach residential appraisal. (IX)
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MCCCD Official Course Outline:
 
REA284AC   19936-20086 Residential Cost Appraisal
    I. Review of the Foundations of Appraisal
      II. The Cost Apprach of Valuation
        III. Land or Site Description and Analysis Relevant to Cost Approach
          IV. Building Description Relevant to Cost Approach
            V. Analysis of Building Style and Function Relevant ot Cost Approach
              VI. Collection and Analysis of Specific Data Relevant to Cost Approach
                VII. Building Cost Estimates
                  VIII. Accrued Depreciation
                    IX. The Cost Approach in the Appraisal Report
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