Location:
Various, distance learning format.
Dates:
March 2007 - December 2014.
Learner Outcomes:
Students will be able to: list types of real estate value and the factors that affect value, list and define characteristics for personal and real property, explain the principles of valuation and how principles are applied, identify different types of property rights, summarize the considerations in site analysis and define the test of highest and best use, describe property characteristics that may influence value, define the sales comparison approach and discuss factors and limitations of this approach, compare and contrast differences between quantitative and qualitative adjustments and describe the means used in applying these adjustments, discuss how real estate financing affects the appraisal process, outline the applicability and limitations of the income approach, explain GRM and GIM and how each is applied and derived, examine direct and yield capitalization and the relationship between risk and capitalization rates, illustrate the keyboard layout of a financial calculator and label keys and functions most utilized by appraisers, outline reconciliation process and discuss approaches to value and factors used in reconciliation, apply paired sales analysis method, derive a gross rent multiplier (GRM) and explain the effect of inaccurate appraisals.
Instruction:
This course provides students with skills to identify specific property, recognize factors affecting real estate, and to present analyzed facts in a coherent and organized format that aligns with USPAP standards.
Credit recommendation:
In the lower division associate/baccalaureate degree category, 1 semester hour in Real Estate (3/12).
