In this introductory session, Mark Polon introduces the principles of property valuation, and introduces essential concepts in zoning and ownership structures. He also provides context for the appraiser in a discussion of real estate cycles.

What are the concepts of price, value, and income, and how to they relate to each other? What role do they play in the valuation of real estate? This session breaks down the variables, and presents each in ways that are easy to understand. Then, Mark Polon relates these to the real estate market.

This session engages the types of data available to the appraiser, including demographic, geographic, and psychographic factors. This lively discussion defines concepts and shows how to use them.

The course moves on to an illustration of site analysis, building analysis, and improvement analysis as methods by which appraisers can understand and appreciate the value of real estate.

The valuation of income properties depends on a sound understanding of legal terms, as well as financial data. In this session, Mark Polon describes different types of leases and their implications on income. The lecture then explains key concepts like the capitalization rate, net operating income, and net present value.

Now that you understand the concepts, terms, and influences on a property's value, this is the time to understand how they work in valuation models. This session delves into representative capitalization, cash-flow predictions, and potential capitalization. Learn how to calculate net operating income, and the capitalization rate of real estate.

This session continues the exposition of models, including how to project income from cash flows and sales to determine value, how to understand and use a discount rate, and how to examine yield capitalization.

Mark Polon shows an important technique in valuation, being the comparison of a similar substitute property of a similar utility and desirability within a reasonable amount of time. In doing so, he explains the issues involved in selecting units for comparison, and the influence of factors like supply and demand in the marketplace.

This session explores the concept of highest and best use, introduced in previous sessions. It examines the effect of improvements, including off-site, location, on-site, and area improvements. Then, Mark Polon describes and discusses concepts like Sales Comparison, Allocation, Cost Approach, and the Quantity Survey Method.

In this final presentation, Mark Polon examines the reconciliation phase, the last phase of any valuation assignment in which two or more value indications derived from market data are resolved into a final value opinion.