Course Descriptions

NOTE: For Appraiser Trainee License, while courses may be taken in any order, we recommend students take Basic Appraisal Principles and Basic Appraisal Procedures prior to taking the National USPAP Course.

IL1-08 NATIONAL USPAP COURSE (15 HOURS)
This course is designed to familiarize participants with the Uniform Standards of Professional Practice and specific state regulations. The Uniform Standards, are broad statements of intent, including rules that govern professional appraisal practice. The "binding requirements" and "specific appraisal guidelines" of these standards rules are emphasized. TEXTBOOK: Uniform Standards of Professional Practice, Appraisal Foundation (included with tuition)  TUITION: $375

IL2-08 BASIC APPRAISAL PRINCIPLES (30 HOURS)
This course provides an overview of real property concepts and characteristics, legal considerations, value influences, real estate finance, types of value, economic principles, real estate markets and analysis, and ethics in appraisal.  Through theory, case studies, and examples, this course offers practical application of appraisal principles.  TEXTBOOK: Basic Appraisal Principles, Hondros Learning.  (included with tuition) TUITION: $525

IL3-08 BASIC APPRAISAL PROCEDURES (30 HOURS) 
This course provides an overview of real estate appraisal approaches to value, valuation procedures, property description, residential and commercial applications, improvement construction, home inspection, and appraisal math.  TEXTBOOK: Basic Appraisal Procedures, Hondros Learning. (included with tuition)  TUITION: $525

ILR4-08 RESIDENTIAL MARKET ANALYSIS AND HIGHEST & BEST USE (15 HOURS) 
This course identifies and analyzes market forces affecting the buyers’ and sellers’ behavior which is the key to understanding and reporting values.  The course is designed to give students the tools needed to properly collect and analyze market data.  In addition, the theory of highest and best use is reviewed.  TEXTBOOK:  Market Analysis and Highest & Best Use, Hondros Learning.  (included with tuition) TUITION: $375

ILR5-08  RESIDENTIAL APPRAISER SITE VALUATION AND COST APPROACH (30 HOURS)
This course provides students valuable insights and a working knowledge of the various theories and methodologies for arriving at residential site values and applying the cost approach in everyday appraisal work. TEXTBOOK:  Residential Site Valuation & Cost Approach, Hondros Learning. (included with tuition) TUITION: $375

ILR6-08 RESIDENTIAL SALES COMPARISON AND INCOME APPROACH (30 HOURS) 
This course fully explains and illustrates how the fundamental principles of valuation and appraisal standards apply to an assignment in which the sales comparison and or income approach is relevant in the scope of work, and details the development steps in the appraisal process through reconciliation.  As part of the progression, the student becomes acquainted with accepted methodology and techniques that can be applied in the assignment using the sales comparison and or income approaches.  Included and emphasized, through numerous illustrations and application case studies, are choosing comparable data, derivation and application of adjustments for various elements, derivation and application of rates of capitalization, and the logic and rationale applied during reconciliation.  TEXTBOOK:  Residential Sales Comparison & Income Approach, Hondros Learning. (included with tuition) TUITION:  $525

ILR7-08 RESIDENTIAL REPORT WRITING & CASE STUDIES (15 HOURS)
This course focuses on the variety of form reports in use by residential appraisers.  Students will gain valuable insights into how to fill out these forms properly, in compliance with USPAP and other guidelines.  Sources will be given for comparable sales, flood mapping, census track maps, and other information necessary for form completion. TEXTBOOK: Residential Report Writing, Hondros Learning. (included with tuition) TUITION: $375

ILR8-08 ADVANCED RESIDENTIAL APPLICATIONS & CASE STUDIES (15 HOURS)
This course focuses on complex properties that include valuing unique and high-end residential dwellings, common-wall structures, and residential properties with substantial and sometimes unique, accessory structures and or amenities.  This course makes strong use of case studies for discussion, analysis, and problem solving to elevate students’ knowledge of challenging residential appraisal assignments and develop the expertise to recognize and address those situations at the certified residential level.  TEXTBOOK:  Advanced Residential Applications and Case Studies, Hondros Learning.  (included with tuition) TUITION:  $375

ILR9-08 STATISTICS, MODELING AND FINANCE (15 HOURS)
This course provides both the theory and practice of statistics, real estate finance, and valuation modeling.  It  also outlines terminology and basic principles of statistics, including practical applications in statistical analysis, and presents real estate markets, terms of financing and real-world examples of how financing affects the value of real property.  TEXTBOOK:  Statistics, Modeling, & Finance, Hondros Learning.  (included with tuition) TUITION:  $375

ILRE-08 MASTERING UNIQUE & COMPLEX PROPERTY APPRAISAL (20 HOURS)
This course raises the level of awareness of the scope of work involved with assignments other than the everyday single-family residential appraisal.  It is designed to equip appraisers with the necessary skills to recognize and resolve the problem.  The course offers many scenarios for discussion and includes significant case study work for application.  Property types discussed include mixed-use, unusual, income-producing, and one-of-a-kind.  Applications using various problem-solving techniques are demonstrated and will also help build confidence and skill in this area.  TEXTBOOK:  Mastering Unique & Complex Property Appraisal, Hondros Learning.  (included with tuition) TUITION: $475

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