Residential Market Analysis and Highest & Best Use

About this course

This course provides a fresh look at the relationship between market analysis and highest and best use. Discover where to find and interpret the information you need to make a highest and best use decision. Learn how to read and map a market area for a subject property and discover the essential links between market analysis, highest and best use analysis, and the three approaches to value (cost, sales comparison, and income capitalization). Gain practical experience by solving highest and best use problems similar to problems you might encounter in the real world. Theory is translated into practice through extensive and varied activities where you’ll apply concepts to real-world situations.

What you’ll learn

Identify how highest and best use and market analysis fit into the valuation process.
Identify ways that market analysis is applied in the valuation process.
Recognize major value-influencing forces in residential properties.
Identify variables that affect the supply of residential properties.
Apply market analysis information in a highest and best use analysis.
Apply market analysis information in the cost, sales comparison, and income capitalization approaches to value.
Apply market analysis information in the reconciliation to a final value opinion.
Demonstrate how highest and best use analysis incorporates data from the cost, sales comparison, and income capitalization approaches to value.

Course curriculum

Introduction
Module 1: Definitions and Overview of Relationships
Module 2: The Market Analysis Process Applied to Residential Properties: Step 1 - Property Productivity Analysis
Module 3: The Market Analysis Process: Step 2. Delineate the Market Areas/Competitive Market Areas
Module 4: The Market Analysis Process: Steps 3 and 4. Project-Forecast Demand and Supply
Module 5: Math for Market Analysis
Module 6: Market Analysis Methodologies, Research Techniques, and Flaws
Module 7: What Is Highest and Best Use?
Module 8: How to Test for Highest and Best Use
Module 9: How to Report Highest and Best Use Analysis
Module 10: Practical Applications in Highest and Best Use Analysis
Module 11: Market Analysis and Highest and Best Use in Action
Conclusion