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Highest and Best Use
Presented by : Dennis DeSaix, SRA
Highest and Best Use, Step #4 in the 8-Step Appraisal Process, is a necessary element for solving the value problem. For many typical residential assignments, concluding the as-improved H&BU is "as is" does not require a lot of analysis and the current Fannie/Freddie forms provide a simple check-box response for us to complete in our reports. However, H&BU analysis is more than a check box and the USPAP minimum requires more than a check-box response.
This 4 hour class will go through the process of developing a highest and best use analysis for typical and atypical residential assignments. Topics include:
· Legally permissible, physically possible, financially feasible, and maximally productive (exactly what is "maximally productive and how is it measured?"
· As-vacant and as-improved H&U analyses
· Can my as-vacant be different than my as-improved, and if so, what does that really mean?
· As-vacant options: Build now, build something else, don't build now and wait
· Is there excess land present?
· As-improved options: Remodel, renovate, bulldoze, or retain as is
· H&BU tells us who the likely buyer will be and what that buyer will do with the property
· H&BU tells us what are the best sales to use as comparables
· What are the basic elements that need to be included in the report's H&BU summary?
· "Is 'checking the box' sufficient to meet my reporting requirements?" (for results communicated in an Appraisal Report format, the answer is "no"!)
This class is designed to link the H&BU process from its theoretical foundations to its practical application, providing useful instruction to boots-on-the-ground residential appraisers that they can use in their practice the very next day.
Tuesday, October 13th
4 hour CE
Registration is from 4:00-4:30 PM
Dinner is from 4:30-5:00 PM
Class is from 5:00-9:00 PM
*Dante Club*
2330 Fair Oaks Boulevard
Sacramento, CA 95825
Members: $40
Non Members: $80
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