Other · Richards College of Business · Marketing/Real Estate
- Fall 2020
- Section N01
- 3 Credits
- 08/12/2020 to 12/05/2020
- Modified 08/09/2020
Objective and Scope: This is an online introductory course about residential real estate appraisal that is designed to expose the student to principles and practices of residential appraisal. Satisfactory completion of this course is partial fulfillment of the requirements for taking the Georgia real estate salesman's, broker's, and appraisal examinations.
Class Type: This is an 95% Online class; hence, internet service and computer camera are required. LockDown Browser and Respondus Monitor will be used for all quizzes and the Midterm Exam. The Final Exam will be in-person on Friday, December 4, at 5:30 pm.
Examines the use of the sales comparison, income, and cost approaches used by professional appraisers to estimate the market value of residential property. The effects of social, economic, political, and physical factors on value are discussed. Some aspects of residential construction and architecture are explored. A form appraisal report of a residential property ties the principles and concepts presented together.
RELE 3705 or REA 305 and Richards Col Upper Division RCUD
Instructor: Dr. Jim Burton Cell 678/378-0384; Office: Miller Hall 2308.
Office Hours: by appointment online only.
Email: Please use email within the class CourseDen for all course correspondence, and I will respond within 24 hours. I will NOT respond to course related questions sent to my UWG or home emails.
This is an 95% Online class; hence, internet service and computer camera are required. LockDown Browser and Respondus Monitor will be used for all quizzes and the Midterm Exam. The Final Exam will be in-person on Friday, December 4, at 5:30 pm.
Text and Equipment:
Required: Betts, Basic Real Estate Appraisal, 9th edition, OnCourse Publishing, 2015.
Recommended: Using Residential Appraisal Report Forms : URAR, Form 2055, and the Market Conditions Form by Mark R. Rattermann ( Appraisal Institute, 2009)
Calculator: A financial calculator is required. The HP10BII ($30. +/-) will be used by the Instructor. Students are responsible for learning to operate their own financial calculator.
- To learn more about residential appraisal from the text & quizzes (BBA 1, 2, 3 & RE).
- To learn more about residential appraisal practice by completing a Uniform Residential Appraisal Report (BBA 2 & RE).
- To learn more about job opportunities in real estate appraisal (BBA 5, 6 & RE).
Grading: Each student is evaluated on chapter quizzes (20%), midterm exam (20%). Residential Appraisal (40%), and a comprehensive final examination (20%). Telephone inquiries concerning grades cannot be accepted, and grades are posted on Banweb. Cheating in any form will result in failure and other consequences. Students are required to take quizzes and exams at the time the quiz or exam is given. Anyone who fails to complete a quiz or an exam on time will be given a ZERO for that exam or quiz unless the student is excused and arrangements are made to make up the exam in advance of the announced date of the quiz and/or exam. Please complete the Syllabus Quiz online on the first day of class, Wednesday, August 12, by 11:30 pm, and Quiz 1 is due by Friday, August 14 at 11:30 pm.
Each student is evaluated on chapter quizzes (20%), midterm exam (20%). Residential Appraisal (40%), and a comprehensive final examination (20%).
Each student is required to submit a residential appraisal using URAR Form with complete supporting photos and documents before Monday, November 30, 2020.
Tentative Course Outline: Chapters Date
Syllabus Quiz 8/12
Introduction to RE Appraisal 1 8/14
Legal Issues in Appraisal 2 8/17
The Appraisal Process 3 8/24
Neighborhood & Market Analysis 4 8/31
Economics & Value 5 9/7
Site Analysis 6 9/14
Improvements Analysis 7 9/14
Sales Comparison Approach 8 9/21
Adjusting Comparable Sales 9 9/28
Midterm Exam Online, Friday, 5:30 pm 1-9 10/2
Site Valuation 10 10/5
The Cost Approach 11 10/12
Estimating Accrued Depreciation 12 10/19
The Income Approach 13 10/26
Capitalization Rates & Techniques 14 10/26
Reconciling the Value Approaches 15 11/2
Reporting Appraisal Opinions 16 11/9
Appraising Special Interests 17 11/9
The Professional Appraiser 18 11/16
Residential Appraisal Hard Copy Due before 5 pm, Monday, Nov. 30.
In-person Final Exam at UWG on Friday, December 4 at 5:30 P.M.
Having read the Honor Code for the University of West Georgia, I understand and accept my responsibility to uphold the values described therein and to conduct myself in a manner that will reflect the values of UWG and the Richards College of Business so as to respect the rights of all UWG community members. As a UWG student, I will represent myself truthfully and complete all academic assignments honestly and within the parameters set by my instructor.
I understand and accept that if I am found guilty of violations (through processes due me as a UWG student and outlined in the UWG Student Handbook), penalties will be imposed.
I also recognize that my responsibility includes a willingness to confront members of the UWG community if I feel there has been a violation of the Honor Code.
Ultimately, I will conduct myself in a manner that promotes UWG as the best place to work, learn, and succeed for my generation, and those to come!
About the Richards College of Business
To become a globally recognized college of business preparing forward-thinking, responsible leaders.
We are in the business of transforming lives through education, engagement, and experiences.
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Admit quality students and provide them with an education that is rich in experiences and engagement opportunities to prepare them to be effective and ethical professionals.
Recruit, retain and develop faculty and staff by providing sufficient resources to support dynamic and up-to-date bachelor and master-level curricula, to conduct research and other professional activities, and to support engagement with all stakeholders.
Recruit, retain and develop administrative management and staff personnel to manage, develop and support infrastructure and those activities that build internal and external partnerships while working in an ever-changing environment.
The Richards College of Business community (administrators, faculty, staff, students, and business partners) share a commitment to the principles of honesty and integrity in interactions and undertakings, accountability for personal behavior, and respect for the rights, differences, and dignity of others. In addition, we strive to continuously improve our abilities to recognize unethical behavior and to make ethical and moral decisions.
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