12/4/2024 12:24:00 AM	RE 53 Course Outline as of Summer 2021	Changed Course
CATALOG INFORMATION
Discipline and Nbr:  RE 53	Title:  RES REAL ESTATE APPRAIS
Full Title:  Residential Real Estate Appraisal
Last Reviewed:2/12/2024

Units		Course Hours per Week			Nbr of Weeks	Course Hours Total
Maximum	3.00	Lecture Scheduled	3.00		17.5 max.	Lecture Scheduled	52.50
Minimum	3.00	Lab Scheduled	0		6 min.	Lab Scheduled	0
		Contact DHR	0			Contact DHR	0
		Contact Total	3.00			Contact Total	52.50
		Non-contact DHR	0			Non-contact DHR Total	0

Total Out of Class Hours:  105.00

Total Student Learning Hours: 157.50

Title 5 Category:  AA Degree Applicable
Grading:  Grade Only
Repeatability:  00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As: 
Formerly:  RE 80F

Catalog Description:

Introduction to principles and techniques required to determine the market value of residential properties and prepare a report.  Applies toward the state's educational requirement for the brokers license and educational elective for the salesperson license.

Prerequisites/Corequisites:

Recommended Preparation:
Course Completion of RE 51 and RE 52

Limits on Enrollment:

Schedule of Classes Information
Description:

Introduction to principles and techniques required to determine the market value of residential properties and prepare a report.  Applies toward the state's educational requirement for the brokers license and educational elective for the salesperson license.

(Grade Only)
Prerequisites:
Recommended:Course Completion of RE 51 and RE 52
Limits on Enrollment:
Transfer Credit:CSU;
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP

ARTICULATION, MAJOR, and CERTIFICATION INFORMATION

Associate Degree:		Effective:		Inactive:
Area:
CSU GE:	Transfer Area			Effective:	Inactive:
IGETC:	Transfer Area			Effective:	Inactive:
CSU Transfer:	Transferable	Effective:	Fall 1981	Inactive:
UC Transfer:		Effective:		Inactive:
C-ID:

Certificate/Major Applicable: Both Certificate and Major Applicable

COURSE CONTENT

Student Learning Outcomes:
At the conclusion of this course, the student should be able to:

1.  Distinguish and group the approaches to real property valuation.

2.  Evaluate and measure the appraisal report.

3.  Satisfy the California Department of Real Estate elective education requirement for

    salespersons.

Objectives:

At the conclusion of this course, the student should be able to:

1. Distinguish "land" from "site."

2. Compare and contrast real property versus personal property.

3. Formulate property value basics and principles including substitution, highest and best use,

    supply and demand, conformity/contribution, and the law of increasing and decreasing returns.

4. Summarize the three basic appraisal approaches including market data, cost, and income

    capitalization.

5. Produce a residential appraisal in accordance with generally accepted uniform appriasal

    standards.

Topics and Scope

I. Basic Concepts of Real Estate Appraisal

    A. Land versus site in relation to water rights

         1. municipal

         2. private

         3. riparian

    B. Real property

         1. fixtures

         2. appurtenances

         3. bundle of rights

    C. Personal property

II. Basic Value Principles

    A. Substitution

    B. Highest and best use

    C. Supply and demand

    D. Conformity/contribution

    E. Law of increasing and decreasing returns

    F. Competition/change and anticipation

III. The Appraisal Process

    A. Market data

    B. Cost

    C. Income capitalization

IV. The Appraisal Report

    A. Letter of opinion

    B. Form report

    C. Narrative report  

V. Generally Accepted Uniform Appraisal Standards

Assignments:

1. Weekly reading of 20-40 pages

2. Field work of approximately 15 hours related to appraisal report, including, but not limited to,

    measuring real property, locating appropriate comparable properties, contact with county

    offices and other real estate professionals; as appropriate to specific property

3. Homework, including but not limited to, online research of government, agency and licensing

    resources

4. Appraisal reports (1 - 4) of real property (apply principles and theory to complete standard legal

    instrument); written components graded as part of the whole

5. Presentation of appraisal report with explanation of method used and citation of statutes to

    support legal instrument

6. Quizzes on each chapter of the text

7. Midterm and final exams

Methods of Evaluation/Basis of Grade.

Writing: Assessment tools that demonstrate writing skill and/or require students to select, organize and explain ideas in writing.		Writing 10 - 20%
Appraisal reports
Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.		Problem Solving 20 - 25%
Online research, field work
Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.		Skill Demonstrations 5 - 10%
Presentation of appraisal report
Exams: All forms of formal testing, other than skill performance exams.		Exams 50 - 60%
Exams and quizzes to include multiple choice, true/false, essay exam(s)
Other: Includes any assessment tools that do not logically fit into the above categories.		Other Category 5 - 10%
Attendance and participation

Representative Textbooks and Materials:

Fundamentals of Real Estate Appraisal. 12th ed. Ventolo, William and Williams, Martha. Dearborn Publishing. 2015

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