CNA203 – Residential Sales Comparison Approach
This 1 (one) day course instructs both new and experienced appraisers on correct and practical methods of completing adjustments in the sales comparison approach. The course includes methods of calculating depreciation and effective age from the market. Land or site adjustments are also addressed. Many actual examples and case studies cover GLA adjustments and, how to calculate effective age/condition adjustments using the effective age comparison method. The relationship between the cost approach and the sales comparison approach is discussed.
• The sales comparison approach
• Effective age/condition adjustments
• GLA adjustments
• Calculating depreciation and effective age from the market
• Sales comparison adjustments and USPAP compliance
• Depreciated cost and market value
• Site adjustments
• Sample comments
• Case studies and examples
Textbook: “Residential Sales Comparison”
Students must bring a financial calculator to class and be proficient in its use.
Course Credit Hours: 8
Prerequisite: CNA101 Introduction to Real Estate Appraising
This course is mandatory for the DAR designation and should be completed by the end of the second year of being a member.