A study of the central purposes and functions of an appraisal, social and economic determinant of value, appraisal case studies, cost, market data, and income approaches to value estimates, final correlations, and reporting.  Skills: R Prerequisites: RELE 1406 or equivalent. Course Type: W

COURSE MATERIALS

Fundamentals of Real Estate Appraisal, 14th Edition 

eBook by William L. Ventolo Jr., Martha R. Williams

Published by DF Institute, Inc., d/b/a Dearborn Real Estate Education

332 Front St. S., Suite 501

La Crosse, WI 54601

All rights reserved. The text of this publication, or any part thereof, may not be reproduced in any manner whatsoever without written permission from the publisher.

Printed in the United States of America

ISBN: 978-1-0788-1766-0*

*(If any supplement is required, it will be available in digital format only)

Other articles of interest and assignments will be provided by instructor through the Course Documents or Assignments tabs on Blackboard.  Student must review all tabs on Blackboard to ensure he or she is familiar with all available data.

This course will challenge students to use critical thinking skills to learn the major approaches to valuing real estate, including the vocabulary and techniques that will enable the student to continue at an advanced level, if desired.  Using indicated readings, internet discussion of current events, assignments and projects, students are expected to gain an understanding of the appraisal forms used, requirement for appraisal licensing, types of appraisal values and basic application of the three approaches to value in real estate appraisal.  Real Estate Appraisal is not restricted to the Textbook but is also intended to challenges students to improve their critical, technical and creative skills in various aspects of real estate valuations.

This course is designed to offer an integrated approach to understanding the concepts and applications of real estate valuation and appraisal.  Upon successful completion of the course, students should be able to:

Recognize the types of appraisal assignments available.

Explain the purpose and causes for appraiser licensing and certification.

Identify the roles of AQB, ASB and the Appraisal Practices Board and the function of the USPAP.

Employ basic appraisal math equations.

Identify the ownership rights being appraised.

Illustrate concepts of market analysis.

Recognize the factors affecting quality of construction and condition that attribute value.

Identify the methods of calculating depreciation when using the cost approach to value.

Explain the purpose of Reconciliation in the appraisal process.

Illustrate understanding of the URAR by completing a mock appraisal.