APPRAISING ASSOCIATION OF MICHIGAN
Plymouth, MI, 48170 Phone: (734)207-5050 AREAI@comcast.net

AREAI 

ONLINE CLASSES 

If you are interested in one of these online classes listed below, please click on the following link and follow the instructions: http://areai.fastclass.com 

#0004-0170901   2010-2011 SEVEN HOUR NATIONAL USPAP UPDATE COURSE   ($140 Tuition)   7 HOURS

The core of this course focuses on the 2010-2011 Uniform Standards of Professional Appraisal Practice updates as set forth by the Appraisal Standards Board of The Appraisal Foundation.  Also included are issues that appraisers face in their daily appraisal assignments, as well as common USPAP violations.  

Course Learning Objectives: 

After Completing this course, you will be able to:

  • Describe the purpose and content of USPAP.
  • Recall the expectations and responsibilities of appraisers.
  • Distinguish between valuation services, appraisal practice, and related performance standards.
  • Describe the steps in the appraisal process.
  • Describe the rationales for the changes to USPAP.
  • Recall the changes to the DEFINITIONS, RULES, AND STANDARDS.
  • Describe the structures, roles, and responsibilities of appraisal-related entities.
  • Evaluated case examples and apply appropriate actions that are compliant with USPAP.
  • Demonstrate comprehension of key USPAP application references.
#0004-3045    SALES COMPARISON APPROACH   ($105 Tuition)   7 HOURS

This course provides a complete review of the Sales Comparison Approach; defining the concept and key terms; going into the exam procedure; discussing comparable sales; rules for making adjustments to the comparables; determining adjustment values; and lastly discussing the differences between sales comparison appraisal and competitive market analysis.  Seven hours (7) continuing education credit.  Tuition $105. 

Course Learning Objectives: 

After completing this course, you will be able to:

  • Discuss the advantages and disadvantages of the Sales Comparison Approach.
  • Perform the steps in the appraisal process.
  • Demonstrate matched pairs analysis procedures.
  • Apply appraisal theories and principles used in the Sales Comparison Approach.
  • Discriminate between market value, cost, and price.
  • Define the parameters of market value.
  • Perform mathematical procedures involved in applying the Sales Comparison Approach.
#0004-3047   RESIDENTIAL COST APPROACH   ($105 Tuition)   7 HOURS

This course provides complete review of the Cost Approach to value:  defining concepts and key terms; reviewing the exact procedures involved; detailed site valuation procedures; various methods available to calculate “cost new” of the improvements; reconciliation of the Cost Approach estimate of value with the other approaches to value.  Seven (7) hours continuing education credit.  Tuition $105. 

Course Learning Objectives: 

After completing this course, you will be able to:

  • Discuss the advantages and disadvantages of the Cost Approach.
  • Perform the steps in the appraisal process.
  • Discriminate between market value, cost, and price.
  • Demonstrate calculation of “cost new” for improvements.
  • Apply principles of depreciation from all sources.
  • Demonstrate understanding of the methods of site valuation.
  • Perform the steps for reconciling the final value estimate.
#0004-3092   FHA AND VA APPRAISAL BASICS   ($105 Tuition)   7 HOURS

This course provides you with an understanding of the historical and present need for FHA and VA programs.  It focuses on current FHA appraisal requirements effective February 2008.  You will also learn how to get placed on the rosters and the essential information needed to complete the appraiser application.  Seven (7) hours continuing education credit.  Tuition $105. 

Course Leaning Objectives: 

After completing this course, you will be able to:

  • Describe the purpose and programs for the FHA and VA.
  • Identify the FHA loan types, their requirements, and benefits.
  • Recall the requirements of the FHA and VA appraiser.
  • Apply appraisal reporting requirements using the correct protocol.
  • Practice reporting data for a one-unit dwelling and other property types.
  • Describe VA loan requirements and approaches to value.
#0004-3152   MORTGAGE FRAUD   ($105 Tuition)   7 HOURS

One of the fastest growing white-collar crimes in the U.S. is mortgage fraud. Each year, millions of dollars are lost to this crime. And while it may seem that mortgage fraud affects only those directly involved in the scams, this is not the case. Consumers pay the ultimate price with higher interest rates and fees for mortgage loans.

Industry insiders like appraisers, real estate agents, mortgage lenders, and title professionals are especially vulnerable to mortgage fraud. They may be involved in mortgage scams both knowingly and unknowingly. It is their responsibility to themselves, the company for which they work, and their customers, to know what mortgage fraud is, recognize and prevent involvement, and protect their customers from being victims to it.

This continuing education course was designed with the professional in mind. In your field, you’ve probably witnessed cases of mortgage fraud. With the information you learn here, you will have the knowledge to help prevent this epidemic from growing further.

#0004-3153   APPRAISAL OF 2-4 FAMILY & MULTI-FAMILY PROPERTIES   ($105 Tuition)   7 HOURS

Having knowledge of how to appraise two- to four-family and multi-family properties will allow appraisers to accept more assignments involving income-producing properties. Appraisal of 2-4 Family & Multi-Family Properties provides students with the necessary background information to appraise such properties.

This course identifies key elements of market analysis of two- to four-family and multifamily properties and distinguishes which features and characteristics are important to an appraiser’s analysis. Students will also learn how to analyze income and expenses and how this analysis is used in an appraisal of an income-producing property. Appropriate income methodologies and how the appraisal approaches apply to income producing properties are also discussed.

This course walks the student through the preparation of the Fannie Mae Reporting Form 1025/Freddie Mac Reporting Form 72, Small Residential Income Property Appraisal Report. It introduces students to the guidelines for each and how to compile the required data and correctly complete the analysis. In addition, the Fannie Mae Form 216/Freddie Mac Form 998, Operating Income Statement Form, is covered as this is a required exhibit that accompanies the 1025/72 report.

 

OTHER INFORMATION: 

All four classes are $439.

#0004-0170900   MICHIGAN LAW   ($39 Tuition)   2 HOURS

This seminar must be taken every TWO YEARS. The topics to be covered are the state appraiser laws: Articles 1-6 of the Occupational Code, Article 26, and the administrative rule and regulations for appraisers.

REFUND POLICY: Refunds are available up to three calendar days after the date of enrollment. The credit card used to purchase the course will be the account that is refunded. To request a refund, contact Technical Support at Support@fastclass.com or 1-866-455-3278. Hours: Monday through Friday 9 am to 7 pm; Saturday 10 am to 3 pm. Closed Sundays and major holidays.

CREDIT FOR CLASS: Upon successful completion of the class the student will be issued a certificate which can be printed (and should be saved in a file). All completions of online continuing education will be reported to the state within a week of completion.

 

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