| 11/23/2024 7:20:39 PM |
| 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:
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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 CA broker & Office of Real Estate Appraisers (OREA) education requirements.
Prerequisites/Corequisites:
Recommended Preparation:
Course Completion of RE 51 and RE 52
Limits on Enrollment:
Schedule of Classes Information
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 CA broker & Office of Real Estate Appraisers (OREA) education requirements.
(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: | | |
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| CSU GE: | Transfer Area | | Effective: | Inactive: |
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| IGETC: | Transfer Area | | Effective: | Inactive: |
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| CSU Transfer: | Transferable | Effective: | Fall 1981 | Inactive: | |
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| UC Transfer: | | Effective: | | Inactive: | |
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| C-ID: |
Certificate/Major Applicable:
Both Certificate and Major Applicable
COURSE CONTENT
Outcomes and Objectives:
At the conclusion of this course, the student should be able to:
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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.
Topics and Scope
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1. 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
2. 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
3. The appraisal process
a. Market data
b. Cost
c. Income capitalization
4. The appraisal report
a. Letter of opinion
b. Form report
c. Narrative report
Assignments:
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1. Appraisal report of real property (apply principles and theory to complete standard legal instrument); written components graded as part of the whole
2. Weekly reading assignments of 20-40 pages
3. 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
4. Quizzes on each chapter of the text
5. Midterm and final exams
6. Homework, including but not limited to, online research of government, agency and licensing resources
7. Presentation of appraisal report with explanation of method 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% |
| Written homework, appraisals | |
| Problem solving: Assessment tools, other than exams, that demonstrate competence in computational or non-computational problem solving skills. | Problem Solving
20 - 25% |
| Homework problems, online research, 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
30 - 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:
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Fundamentals of Real Estate Appraisal, by William L. Ventolo, Jr. and Martha R. Williams, 10th Edition, copyright 2008, by Dearborn Publishing.
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