Advanced Income Capitalization

Instructor Gary DeWeese, MAI Tuition $675 Appraisal Institute Members $775 Non-Members Location Hawthorn Suites 6329 S. 212th Street Kent, WA 98032
Before You Can Register... If this is your first new Advanced Education course, you need to pass a short (15 minutes) online spreadsheet skills test. Must be completed by Feb. 27! CLICK HERE TO TAKE THE BRIEF DIAGNOSTIC TEST

The new 35-hour Advanced Income Capitalization course implements a blended learning approach, which includes a pre-class, two-hour online session combined with 30 hours of traditional classroom education and wraps up with a three-hour exam on the fifth morning.

Please review the FAQs for important information regarding registration and cancellation deadlines; mandatory diagnostic test; online session; course equivalencies. Click here.

Course Description
Advanced Income Capitalization builds on topics covered in the General Appraiser Income Approach/Part 1 and General Appraiser Income Approach/Part 2 courses. It introduces additional topics that a seasoned general appraiser can expect to meet in everyday practice. The course features a limited review of material covered in the previous income courses to maximize the time available for advanced topics. Advanced topics are divided into six general areas:

• Operating income issues, including complex lease structures, reimbursements, and tenant improvement allowances
• Property valuation techniques, property taxes that are a function of market value, reversions, property model applications, and supporting the discount rate
• Complex mortgage instruments and the effects of leverage
• Equity valuation
• Investor motivations, including measures and types of risk, measures of return, and income tax consequences
• Case study applications of an office building, a subdivision, and a proposed development with prospective and subject to hypothetical values

Registration Deadlines and Classroom Schedule
New Advanced Education Format! Be sure to read the requirements carefully.
Please click here to review the FAQ's regarding registration deadlines; online session; and other important information.

• February 20 - Course's online session available (28 days before classroom session begins).
• February 27 - Last day to register for and submit diagnostic test (21 days before classroom session begins).
• March 5 - Last day to receive diagnostic test "Pass" grade (14 days before classroom session begins).
• March 5 - Registration for the course ends (14 days before classroom session begins).
• March 12 - Course online session ends (7 days before classroom session begins).

Classroom session begins March 19

• March 19 - Registration: 8:00-8:30AM
• March 19-22 - Class: 8:30AM-4:30PM
• March 23 - Exam: 8:00-11:00AM

Participants will need to make their own arrangements for lunch.

Required Equipment - NEW!

• Laptops (recommend external mouse)
• Spreadsheet program: Excel 2007 (participants can use other spreadsheet programs, but those programs won't be supported in class; demonstrations will be done in Excel)
• HP-12C calculator
• You must be familiar with basic Excel and calculator operation when the course begins. Answers to problems in course material are shown using Excel and the HP-12C. Do not come to class expecting to be taught how to use Excel or a financial calculator.
• Click here for Free Reviews -- Using a Financial Calculator; Formulas, Symbols, Math Review, and Sample Problems; and Financial Calculator Practice Exercises
• For additional help with the HP-12C calculator, take our online seminar, Using Your HP12-C Financial Calculator.

Continuing Education
Approved for 35 hours of CE credit; 33 by the State of Washington (30 classroom, 3-hour exam, 2 online pre-classroom hours not approved in the State of Washington) Click Here for State Approvals

AI CE Credit for Designated and Associate Members
This program is approved for 1.25 hours of Appraisal Institute CE credit for every hour taken.

Advanced Education courses can be used to satisfy Associate and Designated members' Advanced Continuing Education (ACE) requirements.

Hotel Accommodations
Shuttle service is provided to and from SeaTac Airport. To make reservations, please call (253) 395-3800. Please mention the Appraisal Institute to receive the preferred rate.

Cancellation Policy
Up to 15 days prior to program start date, $50 cancellation fee.
7-14 days prior to program start date, $150 cancellation fee.
Less than 7 days prior to program start date, forfeit of payment.

Attendance Requirements
100% attendance is required for all Appraisal Institute education programs. This follows Appraiser Qualifications Board minimum criteria requirements. A "classroom hour" is defined as 50 minutes out of each 60 minute segment. A 10-minute break per hour is allowed and a student would still meet the 100% attendance requirement. Students should not be late or leave early; if they are late or leave early, they will not receive credit.

NOTE: If you have a disability and require accommodation, please notify the Seattle Chapter of the Appraisal Institute in writing at least two weeks in advance and we will arrange for reasonable accommodations. We reserve the right to cancel, limit, or reschedule the course and change faculty assignments and facility locations at any time. Prospective students should confirm their registration before making any non-refundable airline reservations.

Appraisal Institute - Seattle Chapter
c/o HomeStreet Bank
8050 15th Avenue NW
Seattle, WA 98117
ph: (206) 622-8425
fax: (206) 623-4474
aisea@qwestoffice.net