Seminar: “Land Valuation: Tips and Trends”- Virtual April 6, 2021 3 hours
Register Here: https://ai.appraisalinstitute.org/eweb/DynamicPage.aspx?webcode=AIChapterRegistration&Reg_evt_key=08A74598-E119-4B20-8306-562C560C40E6&goback=0
April 6, 2021: 8:30-11:30 am via ZOOM
Target Audience: Residential and Commercial Appraisers
Instructor: Susanne M. Curran MAI, AI-GRS, MCRP, PP
Objective: Present a Comprehensive High-Level Overview of factors supporting Land Valuation that are Relevant to
Appraisers and to the Accuracy of Appraisal Reports
Seminar Outline:
Instructor Introduction and Comments: 5 minutes
Part 1: Land Concepts: Physical, Economic, Legal and Risk Aspects that Affect Value 20 Minutes
Property Characteristics: “As Is”, Current Sources of Information, Fee Simple rights vs. Easement, Risks Inherent in
Trend/Forecast Assumptions, Intended Users- Who Asks? / “Other” Requirements/ Appraiser Independence
Part 2: Highest and Best Use and Demand: Market Analysis Factors; Property Marketability 30 Minutes
D.U.E.S, Population, Income and Employment, Competitive Current and Future Supply; Demand
10-minute Break
Part 3: Easements and Utilities: 30 minutes
Public Sewer/Water, Access Easements, Conservation Easements, Stream/Stormwater Easements, Corridors
Discussion of Relevant Information on Partial Easement Interests and Utility Interests, for Land Appraisal
Part 4: Land Development Regulations 30 minutes
PA Land Use Law: Municipalities and Counties; Development Approval Process, meaning of “Approved”?
Development Approvals: Real or Not? Permit Extension Act, Building Permits, Perc Tests, Protection of Natural Areas,
Zoning and Overlays, State Jurisdiction
5-minute Break
Part 5: Approaches to Value: 40 minutes
Sales Comparison Approach: Guidelines for Locating Relevant Sales, Units of Comparison, Elements of Comparison,
Relevant Quantitative Adjustments, Reconciliation of Value
Discounted Cash Flow Analysis/Development Method: When appropriate and supported, Risk Factors, Timing of
Development, Absorption, Expenses, Site Costs, Appropriate and Sufficient Discounts and Deductions
Questions: 10 minutes
