THIS IS A FOUR HOUR CLASS BROKEN INTO TWO 2 HOUR SESSIONS ON CONCURRENT DAYS. PLEASE IGNORE THE SCHEDULE ABOVE
Session 1-Wednesday, September 16 from 6:30PM to 8:30PM
Session 2-Thursday, September 17 from 6:30PM to 8:30PM
This 4-hour class is a review of the basic principles, methodology, and application of the cost approach for residential appraisal assignments. Upon completion, students should have a general understanding of the steps necessary to complete the 1004 GSE one-unit residential form's cost approach section in a compliant and credible manner. Class contents:
Understand how market participants relate value to cost
Review the basic formula: Value = Cost - Depreciation
- The Main Components of the Cost Approach
Site acquisition costs
- Practical Application
Review methods and data sources
Entrepreneurial incentive vs. entrepreneurial profit
Methods for determining age and depreciation
Methods to conclude site value
- Discussion and questions
Our instructor is Alex Gilbert. Alex is a California certified residential appraiser and an AQB certified USPAP instructor. He began his appraisal career in the San Francisco Bay Area as a staff appraiser, first with Bank of America, then Citibank. He transitioned to appraisal management and review with Bay View Bank and Sumitomo Bank of California, then managed the California Bank & Trust residential appraisal unit for 23 years. Mr. Gilbert has been teaching appraisal courses for over 20 years, most recently with McKissock Learning since 2011.
This class is approved for 4 hours of remote continuing education under emergency Covid-19 permission from the California Bureau of Real Estate Appraisers (Approval# 19CP986603091). You must have a free REAA website account to receive continuing education.
Click here if you need instructions creating a free REAA website account.
Cost of the class is $40 for members/$60 for non-members and includes class materials and access to the class recordings.
You must attend both class sessions to receive continuing education credit.
To receive CE credit, BREA requires that attendees provide photographic evidence of taking the class confirming their identification. You must email a selfie with your driver's license visible to REAASacramento@gmail.com. During class, you will be required to respond to questions periodically in Zoom. These steps are required to meet the emergency BREA guidelines granting continuing education credit. You are welcome to attend the class and not receive CE.
You will receive a link to the class materials the day before the class starts. This class is a joint effort of the REAA chapters.