SRJC Course Outlines

9/24/2022 7:43:08 PMRE 54 Course Outline as of Fall 2005

Changed Course

Discipline and Nbr:  RE 54Title:  COMM REAL EST APPR  
Full Title:  Commercial 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 80J

Catalog Description:
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Methods and techniques of estimating the value of properties other than single residences. Application of income approach to commercial, industrial, and multiple residential properties. Applies toward State's educational requirements for the California Real Estate Broker's examination.


Recommended Preparation:
Course Eligibility for ENGL 100 and Course Completion of RE 53 ( or RE 80F) OR Course Eligibility for ESL 100

Limits on Enrollment:

Schedule of Classes Information
Description: Untitled document
Principles of appraising income-producing real estate. Enables the student to determine market value of commercial/retail/industrial properties. Applies towards California RE broker's exam and appraiser requirements.
(Grade Only)

Recommended:Course Eligibility for ENGL 100 and Course Completion of RE 53 ( or RE 80F) OR Course Eligibility for ESL 100
Limits on Enrollment:
Transfer Credit:CSU;
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP


Associate Degree:Effective:Inactive:
CSU GE:Transfer Area Effective:Inactive:
IGETC:Transfer Area Effective:Inactive:
CSU Transfer:TransferableEffective:Spring 1989Inactive:
UC Transfer:Effective:Inactive:

Certificate/Major Applicable: Certificate Applicable Course


Outcomes and Objectives:
Upon completion of the course, students will be able to:
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Upon successful completion of the course, students will 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.
7.  Compose an appraisal of a commercial property.

Topics and Scope
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1. Property and value
  a. nature of property value
  b. market value
  c. economics of supply and demand
  d. highest and best use
2. Sales comparison approach to value
  a. analysis of subject property
  b. collection and analysis of data
3. Cost approach to value
  a. cost estimation
  b. depreciation
4. Real estate investments
5. Income approach
  a. gross income estimates
  b. effective gross income estimates
  c. net operating income estimates
6. Capitalization formulas and rates
  a. relationship of income, rate, and value
  b. selection of rates
7. Capitalization procedures
  a. income stream
  b. selection of methods
  c. selections of techniques
  d. alternative methods

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1. Weekly reading assignments of 15-42 pages.
2. Prepare commercial appraisal report of real property (apply principles
  and theory to complete legal instrument); written components graded as
  part of the whole.
3. Field work of minimum 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.
4. Quizzes on each chapter of text.
5. Examinations.
6. Homework, including but not limited to, online research of government,
  agency and licensing resources.
7. 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
25 - 40%
commercial appraisal report
Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills.Problem Solving
5 - 10%
Field work
Skill Demonstrations: All skill-based and physical demonstrations used for assessment purposes including skill performance exams.Skill Demonstrations
0 - 0%
Exams: All forms of formal testing, other than skill performance exams.Exams
40 - 65%
Multiple choice, True/false, Essay exam
Other: Includes any assessment tools that do not logically fit into the above categories.Other Category
5 - 10%

Representative Textbooks and Materials:
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INCOME PROPERTY VALUATION, 2nd Ed. by Fisher and Martin. Dearborn
Publishing copyright 2003.

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