Course Summary:

This course provides comprehensive instruction related to the valuation and appraisal techniques used for residential and income-producing properties, including the comparable sales approach, the cost approach, and the income approach.

Rationale:

The purpose of this course is to introduce students to the basic concepts of real estate appraisal.  This course integrates the concepts of the appraisal process focusing on the cost approach, the sales comparison approach, and the income capitalization approach in real-world applications. Look over my recommended prerequisite courses at Liberty University if you need help deciding.

Measurable Learning Outcomes

Upon successful completion of this course, the student will be able to:

• Describe the appraisal process.
• Describe the three approaches to value used to determine the fair market value.
• Evaluate influences on real estate values.
• Apply advanced methodology to value residential and commercial real estate.
• Analyze ethical issues related to appraisal theory and practice.
• Evaluate residential and commercial market analysis principles.
• Analyze the investment potential of different income-producing properties.
• Apply biblical principles within the field of real estate appraisal.

Course Assignment Summary:

Textbook readings and lecture presentations

Discussions (3)

Discussions are collaborative learning experiences. The purpose of the Discussions is to generate interaction in regard to relevant, current course topics. Therefore, the student is required to submit a thread in response to the provided promptly for each discussion. Each thread must be at least 250 words, demonstrate course-related knowledge, and be supported with at least 2 citations in the current APA format.

The Real Estate Appraisal Profession Assignment

• Using the questions provided in the Real Estate Appraisal Profession Assignment Instructions, the student will enter the answers into the corresponding template found on the assignment page.
• The student will also write a brief essay in response to the prompt provided.
• The essay must be at least 250 words, including two references to outside research, and follow current APA standards.

The Appraisal Process Assignment

• Using the questions provided in the Appraisal Process Assignment Instructions, the student will enter the answers into the corresponding template found on the assignment page.
• The student will also write a brief essay in response to the prompt provided.
• The essay must be at least 250 words, including two references to outside research, and follow current APA standards.

The Cost Approach Assignment

• Using the questions provided in the Cost Approach Assignment Instructions, the student will enter the answers into the corresponding template found on the assignment page.
• The student will also write a brief essay in response to the prompt provided.
• The essay must be at least 250 words, including two references to outside research, and follow current APA standards.

The Income Capitalization Approach Assignment

• Using the questions provided in the Income Capitalization Approach Assignment Instructions, the student will enter the answers into the corresponding template found on the assignment page.
• The student will also write a brief essay in response to the prompt provided.
• The essay must be at least 250 words, including two references to outside research, and follow current APA standards.

Appraisal Project Assignment

• The Appraisal Project Assignment will be a comprehensive Pro-forma financial analysis and valuation of a proposed multi-family development.
• The assignment should be 1,000 words in length, supported by 5 scholarly sources, and follow APA formatting standards.

Quizzes (8)

There will be quizzes each week covering concepts from the textbook readings. The quizzes will be open-book/open-notes, consist of 10-15 multiple-choice questions, and have a 60-minute time limit.