There is an additional $15 fee to have a physical copy of the Student Reference Manual mailed to you for these classes. These books must be ordered through the VALA Education Coordinator at least 4 weeks before classes begin. Any requests after that time will not be honored.

IAAO Course 101

Fundamentals of Real Property Appraisal

September 20th – 24th
Beginning at 8am
Taught by Kara Endicott
5-Day Course
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Recommended textbook: Property Assessment Valuation (PAV) (3rd edition) The cost per book is $50 and must be ordered from IAAO. The fee for this book is covered by the VT PVR Lister Grant, contact your district advisor.
AQB approved: 33.50 hours CE with exam / 30 hours CE no exam
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This course is designed to provide students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant and improved properties. This course concentrates on the skills you need to estimate the market value of properties using two approaches to value: the cost approach and the sales comparison approach.
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IAAO Course 102

Income Approach to Valuation

October 11th – 15th
Beginning at 8am
Taught by Kara Endicott
5-Day Course
Recommended prerequisites: Course 101
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Recommended textbook: Property Assessment Valuation (PAV)  (3rd edition) The cost per book is $50 and must be ordered from IAAO. The fee for this book is covered by the VT PVR Lister Grant, contact your district advisor.
AQB approved: 33.50 QE, 33.50 hours CE with exam / 30 hours CE no exam
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This course is designed to provide students with an understanding and working knowledge of the procedures and techniques required to estimate the market value of vacant or improved properties by the income approach. This course covers real estate finance and investment, capitalization methods and techniques, analysis of income and expenses to estimate operating income, selection of capitalization rates, and application of the approach.
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IAAO Course 311

Real Property Modeling Concepts

Please note: former 311 (Residential Modeling Concepts) and 312 (Commercial/Industrial Modeling Concepts) have been redesigned into this one 5-day course.

October 18th – 22nd
Beginning at 8am
Taught by David Cornell
5-Day Course
Recommended prerequisites: Course 300
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Continuing education: 30 hours CE
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The Real Property Modeling Concepts course presents a detailed study of the mass appraisal process as applied to residential and income-producing properties. Topics covered include a comparison of single-property appraisal and mass appraisal, the major steps in the mass appraisal process, data requirements, market analysis, use of sales ratio studies, cost approach, sales comparison approach, gross and net income analysis, capitalization rate development, model specification and calibration, valuation review techniques and maintenance.
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