SRJC Course Outlines

2/26/2024 10:28:42 PMRE 54 Course Outline as of Fall 2025

Changed Course
CATALOG INFORMATION

Discipline and Nbr:  RE 54Title:  COMM REAL EST APPR  
Full Title:  Commercial Real Estate Appraisal
Last Reviewed:2/12/2024

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 80J

Catalog Description:
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Students will study the methods and techniques of estimating the value of properties other than single residences. Application of income approach to commercial, industrial, and multiple residential properties. This course is required to apply for the California State Broker's license examination and applies as an elective towards the California Real Estate Salesperson examination.

Prerequisites/Corequisites:


Recommended Preparation:
Course completion of RE 53 and RE 56

Limits on Enrollment:

Schedule of Classes Information
Description: Untitled document
Students will study the methods and techniques of estimating the value of properties other than single residences. Application of income approach to commercial, industrial, and multiple residential properties. This course is required to apply for the California State Broker's license examination and applies as an elective towards the California Real Estate Salesperson examination.
(Grade Only)

Prerequisites:
Recommended:Course completion of RE 53 and RE 56
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:Spring 1989Inactive:
 
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:
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1. Evaluate and review the appraisal report.
2. Define and analyze an appraisal of a commercial property in accordance with generally accepted uniform appraisal standards.
 

Objectives: Untitled document
At the conclusion of this course, the student should be able to:
1. Identify and evaluate the two approaches to real property valuation.
2. Differentiate the elements of gross income estimates.
3. Analyze the elements of effective gross income estimates.
4. Compile net operating income estimates.
5. Devise the formula for realization of capitalization.
6. Identify and appraise capitalization rates.

Topics and Scope
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I. Property and Value
    A. Nature of property value
    B. Market value
    C. Economics of supply and demand
    D. Highest and best use
II. Sales Comparison Approach to Value
    A. Analysis of subject property
    B. Collection and analysis of data
III. Cost Approach to Value
    A. Cost estimation
    B. Depreciation
IV. Real Estate Investments
V. Income Approach
    A. Gross income estimates
    B. Effective gross income estimates
    C. Net operating income estimates
VI. Capitalization Formulas and Rates
    A. Relationship of income, rate, and value
    B. Selection of rates
VII. Capitalization Procedures
    A. Income stream
    B. Selection of methods
    C. Selections of techniques
    D. Alternative methods  
VIII. Generally Accepted Uniform Appraisal Standards

Assignments:
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1. Weekly reading assignments of 15-42 pages
2. Prepare commercial appraisal report of real property including narrative and apply principles and theory to complete legal instrument
3. Field work of minimum 15 hours related to appraisal report, including but not limited to:
     a. Measuring real property
    b. Locating appropriate comparable properties,
     c. Contact with county offices and other real estate professionals as appropriate to specific property
4. Quizzes, midterm, and final examination
5. Online research of government, agency, and licensing resources
6. Presentation of appraisal report with explanation of method(s) used and citation of statutes to support legal instrument

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
15 - 35%
Commercial appraisal report, online research
Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.Problem Solving
20 - 25%
Field work, presentation
Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.Skill Demonstrations
0 - 0%
None
Exams: All forms of formal testing, other than skill performance exams.Exams
40 - 60%
Quizzes, midterm, and final exam
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:
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Income Property Valuation. 3rd ed. Fisher, Jeffrey and Martin, Robert. Dearborn Real Estate Publishing. 2008 (classic)

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