Course Description
This fundamental review course that all reviewers of assignments involving income-producing and other nonresidential properties should have in their educational background. It is a required course for individuals pursuing the Appraisal Institute General Review Designation (AI-GRS, Appraisal Institute General Review Specialist). At the core of this course is the review process. Participants explore the seven steps outlined in this process as they apply to nonresidential properties. To be a reviewer, an appraiser must learn how to develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness relative to the work under review. These opinions must be refined through tests of reasonableness to develop reconciled opinions of appropriateness and credibility. The material provides a refresher on key valuation skills often required of reviewers, such as measuring financial feasibility in highest and best use analysis and various applications of the income capitalization approach. In addition, the course covers reporting reviews for income-producing property and the use of commercial review report forms, narrative reports, and oral review reports. Participants will gain practice in writing a scope of work statement for three types of assignments. They will also develop a template for a narrative review report on a property type of their choice (office, retail, apartment, etc.). By taking this course, participants will gain invaluable confidence in the fundamentals of review through the review process, which is the core of this course. To be a reviewer, an appraiser must learn how to develop opinions of completeness, accuracy, adequacy, relevance, and reasonableness relative to the work under review. These opinions must be refined through tests of reasonableness in order to develop opinions of appropriateness and credibility. By taking this course, participants may gain invaluable confidence on the fundamentals of review.
Course Objectives
- Distinguish between appraisal and review.
- Evaluate the necessary knowledge and skills required to complete reviews.
- Distinguish between trivial and material errors.
- Identify types of review assignments and the process employed in the reviewer’s scope of work.
- Recognize regulatory compliance issues for review appraisers.
- Identify the steps necessary to communicate the review effectively.
Course Details
Program Overview:
Table of Contents and Overview
Course Schedule
Assignments:
To access your Education and Events page, log on to the Appraisal Institute website at https://ai.appraisalinstitute.org/eweb (click on the three horizontal lines to the left of the AI logo and select “My
Equipment:
- A financial calculator is required. The accepted model used in the program is the HP-12C. AI education programs that require a financial calculator are developed with HP-12C keystrokes; using this model is highly recommended.
- You must be familiar with calculator operation when the program begins. Do not enroll expecting to be taught how to use a financial calculator.
- For help with the HP-12C calculator, take our online seminar Using Your HP-12C Financial Calculator.
- HP-12C calculator User’s Manual.
Additional Information:
Course Materials Include:
- Course Handbook (429 pp.)
- Suggested Solutions (172 pp.)
- Pre-Class Downloads (3 MB)
- Pre-Class Memo (1 p.)
Designated Members, Candidates for Designation, and Practicing Affiliates will receive the discounted AI Price for Advanced Education courses: Review Theory—General and Review Case Studies—General. All others will pay full price.
Review Theory—General is required for individuals pursuing the Appraisal Institute General Review Designation (AI-GRS – Appraisal Institute – General Review Specialist). For more information regarding the requirements for the review designation, please click here.
If you are currently designated, view for more information on the alternative path.
If you are currently a Candidate for Designation, or wish to become a Candidate, view here for the specific designation requirements.
You will be asked to clear the calculator’s memory before and after the examination. Only one calculator is permitted in the testing room. Examinees taking most AI exams may bring their own calculator to use during the exam. Laptops, cellular phones, tablets, iPads, wearable technology (smart watch, Apple Watch, Google Glass, etc.), and other devices that can store data or connect to the Internet are NOT permitted during the exam. In addition, all watches, wallets, bags, and purses must be removed and stored out of reach prior to taking the exam.
Requirements:
A laptop computer is required. Word processing software must be installed and operational. This course includes writing exercises.
CHECK IN AT 8:00 AM
CLASS STARTS AT 8:30 AM
NO BREAKFAST OR REFRESHMENTS WILL BE SERVED.
LUNCH: ON YOUR OWN
PARKING: FREE
TEMPERATURES IN CLASS ROOMS VARY. PLEASE DRESS ACCORDINGLY.
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Course Description
Course Details
Program Overview:
Table of Contents and Overview
Course Schedule
Assignments:
No
Equipment:
A laptop computer or tablet device is required for participants who choose an electronic copy of USPAP.
Additional Information:
Course Materials Include:
- Course Handbook (74 pages)
- Reference Manual (360 pages)
Unless otherwise noted, the course price does not include a copy of the current USPAP edition, which is required for course credit. When the chapter does not include, participants must bring their own copy of the USPAP edition to class.
Requirements:
Event Information
CHECK IN AT 8:00 AM
CLASS STARTS AT 8:30 AM
NO BREAKFAST OR REFRESHMENTS WILL BE SERVED.
LUNCH: ON YOUR OWN
PARKING: FREE
TEMPERATURES IN CLASS ROOMS VARY. PLEASE DRESS ACCORDINGLY.
TOPIC: Short-Term Rentals (STRs) – Analysis and Valuation
Join George Paquette, SRA and Charles Baker, SRA as they discuss their Short-Term Rental journey. They will provide insight into the unique challenges and opportunities involved with valuing Short-Term Rentals (STRs). Learn about STR data sources and analysis, and market studies. Compare Long-Term versus Short-Term income streams, expenses, and going concern. They also will provide their unique perceptive on how to identify potential STR investment opportunities.
SPEAKERS: Charles Baker, SRA, AI-RRS; George Paquette, SRA
Established in 1988 by Charles Baker, SRA, AI-RRS, AppraisalPros provides appraisal, review, litigation support, tax appeal and consulting services on residential property throughout the Southern California area, including Catalina Island. Clients include domestic and international financial institutions, law firms, consulting firms, developers, employee relocation companies, condo boards, real estate firms and individuals.
He has appraised the homes of countless celebrities and who’s-who in finance, design, business, entertainment, legal, sports, health care, hoteliers, etc. with over $26 billion in aggregate residential valuations since 2002.
George is the Chief Operating Officer of Valligent, a Veros Software company. George Paquette is a certified appraiser with the SRA designation and has nearly two decades of leadership experience in appraisal and asset management companies. Previously, he worked as a collateral default reviewer for a nationwide lender and owned a staff appraisal office.
George owns and operates full-time vacation and monthly rentals on Catalina Island.
Event Information
Veros Real Estate Solutions
2333 N. Broadway
Huntington Room-Floor 1
Santa Ana, CA 92706
Check In: 5:30 PM
Dinner and Program: 6:00 PM – 8:00 PM
TOPIC: Short-Term Rentals (STRs) – Analysis and Valuation
Join George Paquette, SRA and Charles Baker, SRA as they discuss their Short-Term Rental journey. They will provide insight into the unique challenges and opportunities involved with valuing Short-Term Rentals (STRs). Learn about STR data sources and analysis, and market studies. Compare Long-Term versus Short-Term income streams, expenses, and going concern. They also will provide their unique perceptive on how to identify potential STR investment opportunities.
SPEAKERS: Charles Baker, SRA, AI-RRS; George Paquette, SRA
Established in 1988 by Charles Baker, SRA, AI-RRS, AppraisalPros provides appraisal, review, litigation support, tax appeal and consulting services on residential property throughout the Southern California area, including Catalina Island. Clients include domestic and international financial institutions, law firms, consulting firms, developers, employee relocation companies, condo boards, real estate firms and individuals.
He has appraised the homes of countless celebrities and who’s-who in finance, design, business, entertainment, legal, sports, health care, hoteliers, etc. with over $26 billion in aggregate residential valuations since 2002.
George is the Chief Operating Officer of Valligent, a Veros Software company. George Paquette is a certified appraiser with the SRA designation and has nearly two decades of leadership experience in appraisal and asset management companies. Previously, he worked as a collateral default reviewer for a nationwide lender and owned a staff appraisal office.
George owns and operates full-time vacation and monthly rentals on Catalina Island.
Event Information
CHECK IN AT 8:00 AM
CLASS STARTS AT 8:30 AM
NO BREAKFAST OR REFRESHMENTS WILL BE SERVED.
LUNCH: ON YOUR OWN
PARKING: FREE
TEMPERATURES IN CLASS ROOMS VARY. PLEASE DRESS ACCORDINGLY.
COMPLEX VALUATION COURSE OVERVIEW:
Complex Valuation is a new course developed to give appraisers the skills to value both detrimental and beneficial conditions. The field of “complex valuation” involves the real estate characteristics that are “atypical.” (Federal Regulations Part 34.42.).
Many, if not most, valuation assignments involve a straightforward application of the cost, income and sales comparison approaches to value. However, frequently complex issues arise that involve either beneficial or detrimental conditions that can influence the value of real estate. For example, beneficial conditions might result in an increase in value, such as discovering minerals or oil on grazing land. Detrimental conditions could result in a diminution in value, such as natural disasters or environmental contamination.
As real estate appraisers, understanding these complexities helps in developing a credible opinion of value in these types of assignments. Although many complex issues are addressed throughout appraisal literature and coursework, they are not presented as a single framework. The purpose of the Complex Valuation course is to provide real estate appraisers with a comprehensive understanding of the topic and focus on these various property conditions and the valuation methodologies to address them. Instructors present with a comprehensive PowerPoint presentation.
Instructors: Randall Bell, PhD, MAI or Michael Tachovsky, PhD
Duration: 7-hours
Course Description
TITLE: PLANNED RIVERSIDE COUNTY TRANSPORTATION IMPROVEMENTS – ROADS, RAIL AND AIR
Join us and our colleagues with the IRWA for a luncheon and informative presentation about planned transportation improvements in Riverside County. The topics will include Riverside County population forecasts and anticipated growth areas, current transportation challenges and needs for expanded capacity, descriptions of planned road, rail and air transportation projects, including estimated project costs and schedules, and anticipated right-of-way acquisition requirements. Our speaker will be Ariel Alcon Tapia, public Affairs Manager, Riverside County Transportation Commission.
SPEAKER: ARIEL ALCON TAPIA – PUBLIC AFFAIRS MANAGER
As the Public Affairs Manager for the Riverside County Transportation Commission (RCTC), Ariel Alcon Tapia is responsible for administering communications programs for the agency’s capital projects, marketing campaigns, and community outreach efforts. He assumed this pivotal role in 2023, bringing his wealth of experience and expertise to the position.
Ariel’s career in transportation communications began in Washington, D.C. in 2012, when he interned for the National Transportation Safety Board’s (NSTB) Public Affairs Department, followed by a return to southern California to intern for the Southern California Regional Rail Authority (Metrolink) in their Legislative Affairs Department. After his internships, Ariel became a public outreach consultant working with the High-Speed Rail Authority, RCTC, OCTA, LA Metro, and various cities on transportation planning and capital programs.
In 2019, Ariel began working at RCTC in the Multimodal Department focusing on passenger rail and transit planning programs. Ariel was then promoted to Senior Management Analyst in the External Affairs Department and began working on agency-wide projects, including the RCTC/Western Riverside County Regional Conservation Authority (RCA) merger, 15 Express Lanes and Express Lanes Connector projects, and the Traffic Relief Plan.
Ariel earned his bachelor’s degree in political science/international affairs from the University of California, Riverside, and a master’s degree in public science with an emphasis on American institutions from California State University, Fullerton. Ariel grew up in Riverside and now lives in Claremont with his wife and their cat.
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TOPIC: The Project Influence Rule: What, Where, When, and Why?
A case study on the proper application of the Project Influence Rule in estimating the value of the larger parcel and the remainder. The case study will present a public project and specific impacts on a retail property. The presentation will include a discussion of appropriate market data and analysis for the valuation of the property in the “before” and “after” conditions.
SPEAKER BIO: Alison Arms, MAI, SRA
Alison Arms, MAI, SRA has over 15 years of experience in real estate appraisal and consulting and has been a co-owner of Jones, Roach, & Caringella, Inc., since 2023. She has experience in a diverse set of appraisal assignments, including trust, title claims, mitigation, special use properties, complex partial acquisitions, and litigation support. Ms. Arms has appraised a wide variety of property types from individual homes to large mixed-use projects and a wide array of commercial property types, including unique assets.
PLEASE NOTE: ZOOM LOG IN INFORMATION WILL BE EMAILED OCTOBER 4TH AT 10 AM.
SPEAKER:
Michele Kauffman, MAI
Executive Managing Director
Chief Growth Officer
Valuation & Advisory
The Southern California Chapter of the Appraisal Institute is proud to announce the launch of its Women’s Initiative Committee (WIN).
The purpose and objective of this newly formed committee is to promote the advancement of women within the appraisal profession. In monthly Zoom meetings, we will host discussions of relevant topics, invite special guest speakers, network, and assess the unique challenges and opportunities we face. All are welcome to attend. Appraisal Institute membership is not required, and the Zoom meetings are free of charge.
Meetings will be held the first Friday of the month, from 12-1pm via Zoom. Our next meeting is scheduled for October 4, 2024
For more information, please contact:
Ariana Arredondo, MAI at [email protected] or
Linda Whittlesey, SRA at [email protected]
Jennifer Hsu, MAI at [email protected]
Disclaimer Information
THERE IS NO CE FOR THIS EVENT