Appraisal (APPR)

APPR 101 Principles of Appraisal (A, W, SP, SU)

3 credits
This is the introductory course to appraisal, establishing a firm foundation for principles, concepts, and procedures for implementation of the valuation process. Coverage includes attributes and necessary skills for the professional appraisal, identification of centers for employment opportunities or establishing individual, independent appraisal practices, the nature of value, basic appraisal principles, federal reserve system, money and capital markets, real estate markets, valuation process, data collection and analysis, neighborhood description, site and improvement description, requirements for Ohio appraiser licensing or certification, and professional appraisal designations.
Lecture: 3 hours – Lab: 0 hours
Lab fee: $2.00

APPR 102 Procedures of Appraisal (A, W, SP, SU)

3 credits
This course covers the entire spectrum of the valuation process, centering on detailed implementation of the three approaches to valuation and correlating to a final conclusion of value. Coverage includes review of valuation process, appraisal mathematics and use of financial calculator, methods of site valuation, cost approach, sales comparison approach, income approach, reconciliation, and final conclusion of value.
Lecture: 3 hours – Lab: 0 hours
Prerequisites: APPR 101
Lab fee: $2.00

APPR 115 Report Writing with Case Studies (A)

2 credits
This course covers techniques in writing both form and narrative appraisal reports. Course covers the logic progression appraisal format as well as writing techniques. Students will be expected to write narrative style descriptions, while applying USPAP to report writing and formatting techniques. Students will exam case studies and analyze for errors and logic consistencies.
Lecture: 1 hour – Lab: 0 hours
Prerequisites: APPR 101 and APPR 102
Lab fee: $2.00

APPR 211 Litigation Support and Expert Testimony (SP)

3 credits
This course demonstrates the numerous opportunities available for the appraiser to offer appraisal services in litigation matters involving real estate taxes, contamination, condemnation, fraud, divorces, construction defects, etc. Coverage includes litigation opportunities, role of the appraiser, role of the attorney, compliance with USPAP, pretrial conference, witness demeanor and effective communication, direct examination, cross examination, and depositions.
Lecture: 3 hours – Lab: 0 hours
Prerequisite: APPR 101
Lab fee: $2.00

APPR 235 Residential Market Analysis/Highest and Best Use (S)

2 credits
Course provides a look at the relationship between market analysis and highest and best use. Students will examine the market by reviewing census data, government reports, demographics, rent studies and other real estate studies to learn how to measure demand. Students will also explore the four tests for highest and best use and the proper support for each conclusion.
Lecture: 2 hours – Lab 0 hours
Prerequisite: APPR 101 and APPR 102
Lab Fee: $3

APPR 240 - Residential Site Valuation and Cost Approach (AU)

2 credits
Course will focus on the valuation of vacant land parcels and the development of the cost approach. The valuation of land is explored by looking at all of the different techniques used in the market. This course will explore the methods used to establish replacement cost and reproduction costs of structures as well as a discussion of depreciation and the methods used to measure depreciation in the marketplace.
Lecture: 2 hours – Lab: 0 hours
Prerequisites: APPR 101 and APPR 102
Lab Fee: $3

APPR 250 Residential Sales Comparison and Income Approaches (W)

3 credits
Course provides the student with the techniques necessary for completing the sales comparison and income capitalization approaches of the valuation process. The course explores paired sales analysis as a tool to support adjustments and the selection of appropriate capitalization rates for use in the income approach.
Lecture: 3 hours – Lab: 0 hours
Prerequisites: APPR 101 and APPR 102
Lab Fee: $3

APPR 260 Advanced Residential Applications (SP)

2 credits
This course will apply advanced residential methodologies involving a complex residential case study appraisal assignment. This case study will interrelate site valuation, the cost approach, the sales comparison approach and the income approach to value. Students will correlate to a final conclusion of value of their own choosing and learn to support that conclusion.
Lecture: 2 hours – Lab: 0 hours
Prerequisites: APPR 101 and APPR 102
Lab Fee: $3.00

APPR 284 USPAP and Fair Housing

2 credits
This is a Capstone course for the Ohio appraisal certification. Course users will learn to apply the standards of the industry to the instruments of appraisal process. This course covers the requirements for ethical and competent appraiser performance as set out in materials developed and issued by the Appraisal Foundation. Coverage includes history of the Appraisal Foundation, functions of Appraisal Standards Board and the Appraisal Qualifications Board, rules of USPAP, and standards of USPAP. This course will also cover the Federal, State and Municipal Fair Housing requirements for appraisers.
Lecture: 2 hours
Prerequisites: None
Lab fee: $2.00

APPR 290 Appraisal Practicum I (A, W, SP, SU)

1 credit
Prerequisite: APPR 101 and 102

APPR 291 Appraisal Seminar I (A, W, SP, SU)

1 credit
Prerequisite: APPR 101, 102
APPR 290 (concurrent)