Course Description and Outline
CPD 116: Land Valuation
Pre-requisite: Recommend BUSI 330, BUSI 331, and BUSI 121.
These two lessons are intended to introduce appraisal theory as it pertains to the valuation of land, with a focus on case studies and practical applications. Lesson 1 reviews the economic principles important in land valuation, and covers the comparison-based methods for valuing land (including direct comparison, extraction, and allocation). Lesson 2 reviews the three income-based techniques for land valuation: ground rent capitalization, land residual, and subdivision analysis.
Course Outline
FOREWORD: Introduction to Professional Development Courses
LESSON 1: Comparison-Based Methods of Valuation
- Instructor's Comments
- Economic Principles Underlying Land Valuation
- Appraisal Principles Important in Land Valuation
- Modelling Land Value
- Units of Comparison
- Land Data Analysis
- Comparison-Based Land Valuation Techniques
- Direct Comparison
- Direct Comparison Case Studies
- Extraction Technique
- Allocation Technique
- Summary
- Review and Discussion Questions
- Appendices: Background Information on Case Studies
LESSON 2: Income-Based Methods of Valuation
- Instructor's Comments
- Direct Capitalization — Ground Rent Capitalization Technique
- Direct Capitalization — Land Residual Technique
- Cost of Development Method
- Yield Capitalization — Subdivision Development Analysis Technique
- Summary
- Review and Discussion Questions
- Appendix 1: Supply and Demand Analysis for Case Study One
AFTERWORD
- The Final Examination
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