The course was recently developed by the instructor Ray Carroll in collaboration with Steve Martin of the State Floodplain Management Office (SFMO) and FFMA. The class was held on February 12th in Doral, and was attended by 29 students of diverse backgrounds, including appraisers, building officials, engineers and floodplain managers.
The class examined the two principal methods approved by FEMA for determining “market value” (adjusted assessment method & professional appraisal method) focusing on how the methods differ and how different results are obtained for the same property. Discussion of theory was followed by an analysis of actual local examples. The course provided students with an understanding of the appraisal process and of the methodologies needed to ensure compliance with the NFIP.