SRJC Course Outlines

12/9/2018 4:45:17 PMRE 53 Course Outline as of Fall 2019

Changed Course
CATALOG INFORMATION

Discipline and Nbr:  RE 53Title:  RES REAL ESTATE APPRAIS  
Full Title:  Residential Real Estate Appraisal
Last Reviewed:5/14/2018

UnitsCourse Hours per Week Nbr of WeeksCourse Hours Total
Maximum3.00Lecture Scheduled3.0017.5 max.Lecture Scheduled52.50
Minimum3.00Lab Scheduled06 min.Lab Scheduled0
 Contact DHR0 Contact DHR0
 Contact Total3.00 Contact Total52.50
 
 Non-contact DHR0 Non-contact DHR Total0

 Total Out of Class Hours:  105.00Total 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:
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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: Untitled document
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:TransferableEffective:Fall 1981Inactive:
 
UC Transfer:Effective:Inactive:
 
C-ID:

Certificate/Major Applicable: Both Certificate and Major Applicable



COURSE CONTENT

Student Learning Outcomes:
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Students will 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: Untitled document
Upon successful completion of the course, students will 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
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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:
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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:
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Fundamentals of Real Estate Appraisal. 12th ed. Ventolo, William and Williams, Martha. Dearborn Publishing. 2015

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