COURSE DESCRIPTION

Concentrates on appraisal law in the state of Virginia, appraisal practices, principles, and theories with regard to their application to residential properties. Emphasizes the review of terms, concepts, and the valuation theories targeted to the residential examination. Lecture 1 hour per week.

GENERAL COURSE PURPOSE

This course is designed to provide the student with a review of the procedures and techniques required to estimate the market value of single-family residential properties both vacant subdivision tracts and improved units.

ENTRY LEVEL COMPETENCIES

Prerequisite is REA 216 - "Real Estate Appraisal" or equivalent.

COURSE OBJECTIVES

Upon completion of this course, the student will have:

1. knowledge of Appraisal in Virginia
2. knowledge of Appraisal Practices
3. knowledge of Appraisal Concepts

1. Types of tests and formats
2. Theories with regard to the application of residential properties
3. Discuss the evaluation of valuation theories targeted to the residential examination

Learn how to use the Uniform Residential Appraisal Report

Revised Sp 99