This course is specifically designed as the introductory course to the Income Approach which meets 30 of the 60 hours required by the Appraiser Qualifications Board for Qualifying Education for General Certified Appraisers. The course covers topics such as application of the six functions of $1, underlying income approach definitions and concepts, construction of the income and expense statement, direct capitalization theory and techniques, introduction to yield capitalization, discounting, lease analysis, building and land residual analysis, and straight-line recapture theory and techniques. These topics are discussed with a distinct bent toward the sometimes unique aspects of rural property valuation. Concepts are reinforced through classroom discussion, drill problems and periodic diagnostic quizzes. After successful completion of this course, the student will be prepared for the more advanced topics discussed in the second 30 hour Income Approach module.
Please Note: This course is designed to follow Basic Appraisal Principles and Basic Appraisal Procedures. It is assumed the student has already gained the level of knowledge and understanding that is taught in the lower level classes.
Required Equipment: Appraisal of Rural Property, 2nd Edition; HP-12c, Hp-17bII or HP-19bII calculator (Click here for basic information how to use an HP-12c), and laptop.
Starting January 2024, all in-person participants will be required to bring their laptops as we transition to all exams being taken digitally through ProProfs. If you have any questions, please contact Katelyn Johnson at 303-692-1224 or KJohnson@asfmra.org.
Suggested Textbook: Valuing Rural America: Foundations of Data Analysis, ASFMRA Appraisal of Real Estate, Fifteenth Edition; Dictionary of Real Estate Appraisal, Sixth Edition
Contact Hours: 27 hours + 3 hour exam
Course Timetable: Days 1-3: 8 AM - 5 PM; Day 4: 8 AM - 4 PM
AQB Licensure Requirement: Certified General
For questions about approvals, contact Deanna Ilk at dilk@asfmra.org or 303-692-1222
- Dates: April 30 - May 3, 2024
- Instructors: Carol Haygood, ARA & Dave Bartlett, ARA
- In-Person Pricing: $769/Member, $999/Nonmember
- Virtual Pricing: $849/Member, $1079/Nonmember
- Format: Hybrid
Registration will close the Friday before at 12:00pm MST. If you have questions or would like to register late, please contact Katelyn Johnson at 303-692-1224 or KJohnson@asfmra.org
Click here to view the Recommended Education Path that the ASFMRA Appraisal Education/Accreditation Committee has put together; it is highly recommended that you review the pathway prior to registration.
This course will be held in a hybrid format (some students in person, some online). Upon registering, you will either select In Person Registration or Virtual Registration. If you select the Virtual Registration, you will be sent a Zoom link to access this course one week before the course start date. If you select the In Person Registration, you will be expected to attend the offering in person in Glendale, CO, throughout the duration of the offering.
The ASFMRA reserves the right to move this offering to a livestream format up to three weeks before the first date of the offering. Any in person registrants will be notified at this time. ASFMRA does not reimburse travel costs.
Textbook: The Valuing Rural America textbook is recommended for any students taking education through the ASFMRA. You may purchase a hard copy or digital version by visiting the ASFMRA bookstore.
Course Location:
ASFMRA Education Center
720 S Colorado Boulevard, Suite 350-S
Glendale, CO 80246
Hotel Information:
The Hilton Garden Inn Denver-Cherry Creek
600 S. Colorado Blvd
Glendale, CO 80246
Booking Link: https://www.hilton.com/en/book/reservation/deeplink/?ctyhocn=DENCKGI&corporateCode=3117120
Booking code: 3117120 - Will include complimentary breakfast.
By registering for this event, I understand that my photograph or video may be taken during participation in any activity (class, social gathering, outing, etc.) sanctioned by the American Society of Farm Managers and Rural Appraisers (ASFMRA). I hereby grant permission to ASFMRA to use my photograph or likeness in any publicity or promotional publications (e.g. website, social media, newspaper ads, newsletters, programs, brochures, public broadcasting releases, email promotions, etc.) and to allow video recordings of myself and/or guests.
In compliance with the Americans with Disabilities Act, the ASFMRA will make every effort to provide reasonable accommodations requested for individuals with disabilities. Requests for accommodations can be responded to more effectively if received at least two weeks in advance of the event.
For More Information: kjohnson@asfmra.org | 303-692-1224
*The maximum capacity for this course is 24 in-person participants and 24 online participants.
*Please note that ASFMRA reserves the right to cancel any course 3 weeks in advance.