Bob Ipock - Real Estate Appraisal Courses

1218 Heatherloch Drive
Gastonia, NC 28054
Phone: 704-867-1985
bob@bobipock.com

Residential Appraisal | General Appraisal | Continuing Edu.
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General Appraisal Courses

The following three General Appraisal Courses must be completed sequentially.

G-1

Introduction to Income Producing Property

30 hours + exam

Course Description:

This 30-hour course is part of the educational requirement for Residential Certification by the North Carolina Appraisal Board. In addition to the regular course work, successful completion of a final exam is required. The scope of this course will include a review of the appraisal process and related mathematical procedures, compound interest and discounting, income capitalization, income estimation, forecasting cash flows and reversions, financing and equity analysis, yield rates and overall capitalization rates.

Prerequisites:

Courses must be taken in the order listed unless prior approval from the NCAB is granted. Licensed residential appraisers must have completed the residential courses to be eligible for enrollment in the G-1 course. Basic use of the HP-12C calculator or similar financial calculator is required.

Textbooks:

The course syllabus does not require a textbook for course completion. However, instruction on history, concepts, formulas, etc., comes directly from The Appraisal of Real Estate, 12^th Ed., Appraisal Institute, Chicago , IL .

Cost: $400.00 - Textbook is provided

G-2

Advanced Income Capitalization Procedures

30 hours + exam

Course Description:

This course along with the succeeding course (G-3) is an integral part of the NCAB requirements for those appraisers who are serious and want to expand their careers into the commercial side of real estate appraisal. The course reviews and then expands on the concepts introduced in Course G-1. The direct capitalization techniques introduced in G-1 are expanded to include various band of investment and residual techniques used in income property appraisal. This is followed by a thorough discussion of the concepts of yield rates and of discounted cash flow analysis (yield capitalization), which is the primary focus of this course. Financial leverage is also discussed so students better understand the relationship between various yield rates and capitalization rates. Several traditional yield capitalization formulas including Inwood, Hoskold, Ellwood and Akerson, are then discussed. Although rendered obsolete by the advent of financial calculators, these formulas are still used by many appraisers, and students should be familiar with them. Upon course completion, students should be able to estimate the value of income producing property using yield capitalization techniques. A financial calculator is required for this course.

Textbooks:

The course syllabus does not require a textbook for course completion. However, those serious appraisers should have within their arsenal at least two reference texts. Both texts mentioned below contain the latest formulas and definitions covered in this course. The primary text is: The Appraisal of Real Estate, 12^th Ed., Appraisal Institute, Chicago , IL and the second text is The Dictionary of Real Estate Appraisal, 4^th Ed., Appraisal Institute, Chicago , IL .

Cost: $375.00 Textbook is not provided

G-3

Applied Income Property Valuation

30 hours + exam

Course Description:

This 15-hour course is a hands-on application of the commercial appraisal process providing the student with a case study involving the inspection of a commercial building and the data collection process. It also includes a review of the market area and neighborhood analysis, the development of an Income and Expense Statement, an in-depth analysis of highest and best use principles, site analysis and valuation, investment return calculations, non-typical financing cash equivalency calculations and the valuation of leases.

Additional Information:

The NCAB approved school will provide each successful student an original “Certificate of Course Completion” for you to file with your application.

Continuing Education Credit:

Appraisal prelicensing or precertification courses conducted by North Carolina approved schools or by appraisal trade organizations are approved as appraisal continuing education courses.

Cost: $375.00 Textbook is not provided