Appraisal Subject Matter Electives

Course Description This course looks at four specialized areas of appraisal practice: Environmental issues Appraising 2- to 4-family residential properties Appraising manufactured homes Narrative report writing It is structured to conform to the 2008 Real Property Appraiser Qualification Criteria established by the Appraiser Qualifications Board of the Appraisal Foundation. This course is part of the Required Core Curriculum to become a Certified Residential or Certified General Appraiser. Section 1 begins with a description of three environmental problems that an appraiser may encounter: radon, mold, and lead paint. It also investigates environmental issues such as indoor air pollutants, wetlands, brownfields and indoor air pollutants. Then environmental reporting is addressed. The second and third parts cover how to appraise specialized property types. First, the process of appraising 2- to 4-unit residential properties is covered in detail. Then, manufactured homes are defined, illustrated and the appraisal process for them is detailed. The final section addresses narrative report writing and wraps up the reporting processes for all property types. There is a required two-hour exam at the end that must be taken in a monitored classroom setting.

1. Recognize the hazards posed by radon and how to test for radon
2. Summarize procedures for radon mitigation
3. Describe molds and recognize conditions that promote mold growth
4. Recognize the hazards posed by lead
5. Recognize the hazards posed by asbestos
6. Recognize the hazards posed by Underground Storage Tanks (UST’s)
7. Recognize and describe wetlands and their regulation
8. Be familiar with Superfund sites
9. Relate recent efforts to revitalize brownfields
10. Understand various kinds of indoor air pollutants
11. Report environmental conditions in the URAR
12. Understand environmental issues in the Fannie Mae and Freddie Mac guidelines and be familiar with FHA and VA requirements concerning environmental problems
13. Distinguish among various kinds of factory built homes
14. Relate the differences between modular and manufactured homes
15. List at least three characteristics of a manufactured home
16. Describe a HUD label and HUD data plate
17. Summarize titling procedures for manufactured housing
18. Recognize Fannie Mae, Freddie Mac, FHA and VA guidelines for manufactured housing
19. Recognize differences between the URAR and the 1004C appraisal form
20. Recognize procedures for a cost approach for a manufactured home using the Marshall & Swift Residential Cost Handbook and Residential Estimator 7
21. Recognize procedures for a cost approach for a manufactured home using N.A.D.A. Guide book manual and software program
22. Recognize differences between the URAR and the 1025 appraisal form
23. Complete the three valuation approaches on a 1025 appraisal form
24. Understand the Multi-unit guidelines for Fannie Mae, Freddie Mac, FHA, and VA
25. Have a basic understanding of effective writing
26. Recognize sentence structure and parts of speech
27. Be able to employ methods and techniques of writing in a concise manner
28. Be familiar with STANDARD 2 and the elements of Self-Contained Appraisal Reports
29. Be familiar with the parts of a narrative appraisal report