Syllabus
Course Information
Course title:
Principles of Real Estate
Course number:
BUS 452
Course description:
BUS 452 examines the economic and social impact of real estate on both the individual and society as a whole.
Course date:
Tuesday, October 26, 2004 through Tuesday, October 26, 2004
Course Goals
Course goals:
To provide students an in-depth introduction to the dynamic field of real estate primarily through a value approach. The subject will look initially the nature of real estate, including private, legal, and market influences. Next, students will learn about market and investment valuations and the their impact on real estate transactions. To complete the introduction, ownership interests and the practical applications of real estate transactions shall be discussed.
Textbooks
Required reading:
REAL ESTATE PRINCIPLES, A Value Approach, David C. Ling & Wayne R. Archer, McGraw-Hill Irwin, 2005
Instructor Information
Name:
Frederick Osborn
Email:
fredoz.osborn@gmail.com
Phone:
(971) 998-7508
Policies
Introduction:
EXAMINATIONS: There will be a mid-term examination based on the materials covered in discussion and the text and a final project involving the concepts and tools covered throughout the term. Students are expected to take the exams when scheduled and make-up exams will be given only with prior arrangements or under exceptional circumstances. The mid-term exam will count as 10 % of your grade and the final project will count as 30% of your grade. FINAL PROJECT: As your final project, you will be creating a thorough investment analysis for the purchase of property for your great-aunt. She has hired you on the terms that you must present analysis and evaluation of one of three properties she believes are a good investment. The descriptions and locations of these three properties will be provided at a later time. You are to provide a complete valuation analysis of the property and why it makes financial sense for investment. You will also create an Action Report stating the required steps needed to complete your sale. The project will be due by completion of the term.
Additional information:
DISCUSSIONS, QUIZZES AND CLASS PARTICIPATION: As this is an online class, discussion questions will be made available on a weekly basis. You will be required to participate in the discussions throughout the term. There will be 9 discussion questions provided throughout the five weeks which will count as 30% of your grade. The quizzes shall be available online as well and are to be completed in the corresponding week assigned. There shall be 9 quizzes counting as 30 % of your final grade. Late quizzes will not receive full credit.
Lesson - Week One
Lesson:
Week One
Date:
Wednesday, January 5, 2005
Objectives or Goals:
To explore the nature of real estate and real estate markets. Defining what comprises valuation and its cause and effect relationship on real estate markets.
Topics:
Real Estate and Real Estate Markets; Value and Real Estate Decisions; & Legal Foundations to Value
Readings:
Chapters 1, 2, & 4
Assignments:
Chapter 1, Quiz # 1, Discussion # 1. Chapter 2, Quiz # 2,Discussion # 2. Chapter 4, Quiz # 3, Discussion # 3.
Lesson - Week Two
Lesson:
Week Two
Date:
Wednesday, January 12, 2005
Objectives or Goals:
To understand the underlying determinants and influences on real estate markets, focussing specifically on government land use and zoning along with private and public market influences.
Topics:
Market Determinants of Value; Government Controls and Real Estate Markets; & Forecasting Ownership Benefits and Value Market Research
Readings:
Chapters 5, 6 & 7
Assignments:
Chapter 5: Quiz and Discussion Chapter 6: Quiz and 2 Discussions Chapter 7: Quiz and Discussion
Lesson - Week Three
Lesson:
Week Three
Date:
Wednesday, January 19, 2005
Objectives or Goals:
To understand property valuation using the three approaches, valuation, cost and income.
Topics:
Valuation Using the Sales Comparison and Cost Approaches; Valuation Using the Income Approach
Readings:
Chapters 8 & 9
Assignments:
Chapter 8: Quiz and Discussion Chapter 9: Quiz and Discussion Midterm released February 21st and due February 26th.
Lesson - Week Four
Lesson:
Week Four
Date:
Wednesday, January 26, 2005
Objectives or Goals:
To understand the commercial investment aspects of real property acquisition and the ongoing management of commercial and quasi-commercial properties.
Topics:
Valuing Investment Opportunities; Enhancing Value though Ongoing Management
Readings:
Chapters 16 & 17
Assignments:
Final Project Start - Due February 8, 2005
Lesson - Week Five
Lesson:
Week Five
Date:
Wednesday, February 2, 2005
Objectives or Goals:
To understand the applicable processes of real property transactions
Topics:
Conveying Real Property Interests; Real Estate Brokerage and Listing Contracts; & Contracts for Sale and Closing
Readings:
Chapters 18, 19 & 20
Assignments:
Final Project, Due February 8, 2005