Introduction to the basic principles of real estate law, markets,
valuation, and finance.  Designed for any graduate student with
an interest in real estate decision making as well as a basis for
more advanced courses. The class emphasizes a conceptual
framework for decision making in the uncertain and ambiguous
environment of real estate markets.  The issues covered provide
an opportunity to develop quantitative tools necessary for
investment analysis in businesses whose principal lines of
operation may or may not be in real estate.  This approach has
proven to be successful in stimulating students to learn more
about the real estate industry during the introductory course, as
well as during the sequence's advanced offerings.

Introduction and conceptual framework	
				
I.  Establishing the framework*
	Case: Redeveloping a small income-property	
Anderson Street, Poorvu (27-41);(AI) Submit brief synopsis and
response to 
discussion questions.
				
    Lecture: Real Estate Markets and Spatial Economics Lecture: 
Real Estate 
    Valuation	Handout
				
    Case: Conceptual framework for project evaluation and
lender-developer relations	
    Savannah West, handout
				
    Case: Project evaluation, back of the envelope	
    SouthPark IV, Poorvu (91-102)(AG) Court House Project due nlt
noon Sep 13.
				
    Case: Project economic decisions, soft markets	
    Prospect Hill, handout;(AG) Groups submit Q2 in detail.Poorvu 
    (Financial Analysis, 412-438); Poorvu (Taxation, 439-460)
				
    Case and Project: Financial Analysis	
    Angus Cartwright, Poorvu (103-117); (AI) Submit per
directions nlt cob 
    Monday, Sep. 24 ... it is highly recommended that you get
started now!
				
    Case: Design and Marketability	Regency Plaza, handout; Poorvu 
    (Mgmt of RE process, 411); (AG) Groups submit Q3, exhibit 5-2.