| Course ID: | REAL 7100. 3 hours. |
| Course Title: | Real Estate |
Course
Description: | The basic principles and analytical techniques related to the
study of real estate - its practices, institutions, and
participants. Topics focus on issues related to property
rights, urban economics, market analysis, and brokerage, with
an emphasis on decisions related to investment, asset
management, and debt financing. |
| Oasis Title: | REAL ESTATE |
| Duplicate Credit: | Not open to students with credit in REAL 4000 or REAL 4000H |
Semester Course
Offered: | Offered spring semester every year. |
| Grading System: | A-F (Traditional) |
|
| Course Objectives: | As an introductory course, the primary objective is to acquaint
the student with the basic concepts, principles, and analytical
techniques related to the study of Real Estate. This course
should provide the student with the tools of analysis that will
enable her/him to be in a better position to make decisions
regarding real estate. The course specifically concentrates on
the real estate investments, the valuation of real estate, real
estate finance, and the legal consideration regarding real
estate and its transfer. |
| Topical Outline: | I: Setting the Stage
1. The Nature of Real Estate and Real Estate Markets
2. Value and Real Estate Decisions
II: Legal and Regulatory Determinants of Value
1. Legal Foundations to Value
2. Conveying Real Property Interests
3. Government Controls and Real Estate Markets
III: Market Analysis and Appraisal
1. Market Determinants of Value
2. Forecasting Ownership Benefits and Value: Market
Research
3. Valuation Using the Sales Comparison and Cost
Approaches
4. Valuation Using the Income Approach
IV: Financing Ownership
1. Real Estate Finance: The Laws and Contracts
2. Residential Mortgage Types and Borrower Decisions
3. Sources of Funds for Residential Mortgages
V: Brokering and Closing the Transaction
1. Real Estate Brokerage and Listing Contracts
2. Contracts for Sale and Closing
VI: Time, Opportunity Cost and Value Decisions
1. The Effects of Time and Risk on Value
2. Mortgage Calculations and Decisions
VII: Financing and Investing in Commercial Real Estate
1. Commercial Mortgage Types and Decisions
2. Sources of Commercial Debt and Equity Capital
3. Investment Decisions: Ratios
4. Investment Decisions: NPV and IRR
5. Income Taxation and Value
VIII: Creating and Maintaining Value
1. Enhancing Value through Ongoing Management
2. Leases and Property Types
3. Development: The Dynamics of Creating Value |