This course provides comprehensive instruction related to the valuation and appraisal techniques used for residential and income-producing properties, including the comparable sales approach, the cost approach, and the income approach.
For information regarding prerequisites for this course, please refer to the Academic Course Catalog.
The purpose of this course is to introduce students to the basic concepts of real estate appraisal. This course integrates the concepts of the appraisal process focusing on the cost approach, the sales comparison approach, and the income capitalization approach in real-world applications.
Measurable Learning Outcomes
Upon successful completion of this course, the student will be able to:
- Describe the appraisal process.
- Describe the three approaches to value used to determine the fair market value.
- Evaluate influences on real estate values.
- Apply advanced methodology to value residential and commercial real estate.
- Analyze ethical issues related to appraisal theory and practice
- Evaluate residential and commercial market analysis principles.
- Analyze the investment potential of different income producing properties.
- Apply biblical principles within the field of real estate appraisal.
Textbook readings and lecture presentations/notes
Course Requirements Checklist
After reading the Course Syllabus and Student Expectations, the student will complete the related checklist found in Module/Week 1.
Discussion Board Forums (3)
Discussion boards are collaborative learning experiences. The purpose of the Discussion Board Forums is to generate interaction in regard to relevant, current course topics. Therefore, the student is required to submit a thread in response to the provided prompt for each forum. Each thread must be at least 250 words, demonstrate course-related knowledge, and be supported with at least 2 citations in current APA format. Acceptable sources include the course textbook, scholarly journal articles, and the Bible. In addition to the thread, the student is required to reply to the threads of at least 2 classmates. Each reply must be at least 100 words.
Textbook Assignments (4)
Textbook Assignments will be applications of the valuation principles that are presented in the textbook. These assignments are comprehensive and must be completed individually by the student.
The quizzes will be based on the reading assignment for the week, Each quiz will contain 10-15 multiple choice questions, will be 3-4.5 points each, and will have a 1 hour time limit.
Appraisal Project - Case Study
The Appraisal Project case study will be a comprehensive pro-forma financial analysis and valuation of a proposed multi-family development. The report will need to be 3-5 pages of text (not including any charts/graphs) along with an APA formatted title page and references page, at least 5 scholarly sources, and a biblical integration section. This assignment must be completed in a group and participation by each member is required.