Pre-requisite: Recommend BUSI 331 or a thorough understanding of the theory and application of the three approaches to value.
These three lessons introduce the student to the theory and methods used in the valuation of properties with impairments or detrimental conditions, such as contamination. The first lesson offers a brief overview of environmental concerns as they pertain to real estate. The different types of contamination are described, in addition to the various levels of environmental audits. The second lesson focuses on the valuation of impaired properties in general, outlining valuation tools for analyzing real estate damages and the impaired condition. Bellís Detrimental Condition Model is introduced. The third lesson builds on the inspection and appraisal information presented earlier and illustrates the specific valuation techniques for analyzing the effect of contamination on real estate value. Case studies illustrate practical examples of how to apply the contents of the appraisal toolbox when faced with valuing an impaired property.
FOREWORD: Introduction to Professional Development Courses
LESSON 1: Introduction to Property Impairment
LESSON 2: Role of the Appraiser and Application of the DC Matrix
LESSON 3: Methods and Techniques for Valuing Impaired Properties
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