Northern Virginia Chapter of the Appraisal Institute
Chapter Meeting/Class
May 1st 5:30 pm - 8:30 pm
Houses, Houses, Houses
Instructor: June Chapman
3 hours of Credit - Complimentary class & Book for Chapter Members only
Non-Members $25 -
City Tavern: Corner of Main and Center Street, Manassas, VA (Upstairs room)
4:30 pm BOD Meeting
5:30 Guest Speaker
Heavy hors d'oeuvres will be served during breaks and afterwards
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From the Northern Virginia Chapter of the Appraisal Institute
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Appraisal Challenges: Declining Markets and Sales Concessions
Recognizing shifts in the market is one of the most significant issues facing residential real estate appraisers today. Until recently, many residential appraisers have never seen a significant market downturn in which residential property values and employment in the real estate industry fall. This timely new seminar will discuss the correct use, pitfalls, and procedures used in valuing residential real estate in markets shifting from appreciation to depreciation. In addition, it will focus on the tools necessary to analyze a local market. Although local and national newspapers and local brokerage firms provide statistical analysis indicating a declining market, it is still necessary to provide well-reasoned support for a property value conclusion, decreasing or not. Finally, recognizing, measuring, and adjusting for today's creative financing plans will be analyzed. Most of these plans involve sellers participating in the plan, and most will have an impact on the price paid, but not the value of the property. Understanding the impact of these concessions on real estate prices is particularly important and is discussed in detail.
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Date and Time
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Location
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Registration Fee
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May 11, 2012
Registration: 8 - 8:30 a.m. Class: 8:30 a.m. - 4:30 p.m.
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Prince William Association of Realtors
4545 Daisy Reid Ave.
Woodbridge, VA 22192
Phone (703) 565-0033
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Members: $175
Nonmembers: $195
Includes course materials, breaks and lunch.
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Reserve your spot today!
Instructor:
Mark V. Smeltzer, SRA
Required Equipment:
HP12C calculator
Education Credit:
This seminar is approved for 7 Appraisal Institute continuing education hours. Click here for state approvals.
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Contact Information & Helpful Links
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The Appraisal Institute is a global membership association of professional real estate appraisers, with nearly 23,000 members in nearly 60 countries throughout the world. Its mission is to advance professionalism and ethics, global standards, methodologies, and practices through the professional development of property economics worldwide.
Organized in 1932, the Appraisal Institute advocates equal opportunity and nondiscrimination in the appraisal profession and conducts its activities in accordance with applicable federal, state and local laws. Members of the Appraisal Institute benefit from an array of professional education and advocacy programs, and may hold the prestigious MAI, SRPA and SRA designations.
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