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|Discipline and Nbr:
COMM REAL EST APPR||
Commercial Real Estate Appraisal
|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
Title 5 Category:
AA Degree Applicable
00 - Two Repeats if Grade was D, F, NC, or NP
Also Listed As:
| ||Total Out of Class Hours: 105.00||Total Student Learning Hours: 157.50||
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.
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
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.
Recommended:Course Eligibility for ENGL 100 and Course Completion of RE 53 ( or RE 80F) OR Course Eligibility for ESL 100
Limits on Enrollment:
Repeatability:00 - Two Repeats if Grade was D, F, NC, or NP
ARTICULATION, MAJOR, and CERTIFICATION INFORMATION
Certificate Applicable Course
Outcomes and Objectives:
Upon completion of the course, students will be able to:
|CSU GE:||Transfer Area|| ||Effective:||Inactive:
|IGETC:||Transfer Area|| ||Effective:||Inactive:
|CSU Transfer:||Transferable||Effective:||Spring 1989||Inactive:||
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
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
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
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.
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.
Representative Textbooks and Materials:
|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%
|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%
INCOME PROPERTY VALUATION, 2nd Ed. by Fisher and Martin. Dearborn
Publishing copyright 2003.