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Other · Richards College of Business · Marketing/Real Estate

Residential Appraisal
RELE-4706

  • 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.

Description

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.

Requisites

Prerequisites:
RELE 3705 or REA 305 and Richards Col Upper Division RCUD
Corequisites:

Contact Information

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.

Meeting Times

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.

Materials

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.

Outcomes

Class Goals:

  1. To learn more about residential appraisal from the text & quizzes (BBA 1, 2, 3 & RE).
  2. To learn more about residential appraisal practice by completing a Uniform Residential Appraisal Report (BBA 2 & RE).
  3. To learn more about job opportunities in real estate appraisal (BBA 5, 6 & RE).

Evaluation

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.

Criteria

Each student is evaluated on chapter quizzes (20%), midterm exam (20%). Residential Appraisal (40%), and a comprehensive final examination (20%). 

Breakdown

Assignments

Each student is required to submit a residential appraisal using URAR Form with complete supporting photos and documents before Monday, November 30, 2020.

Schedule

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.  

College/School Policies

Wolf Pact

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

Vision
To become a globally recognized college of business preparing forward-thinking, responsible leaders.

Mission
We are in the business of transforming lives through education, engagement, and experiences.

Strategic Goals and Values

Student Success
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.

Academic Success
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.

Operational Success
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.

Ethical Values
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.

Institutional Policies

Academic Support

Accessibility Services: Students with a documented disability may work with UWG Accessibility Services to receive essential services specific to their disability. All entitlements to accommodations are based on documentation and USG Board of Regents standards. If a student needs course adaptations or accommodations because of a disability or chronic illness, or if he/she needs to make special arrangements in case the building must be evacuated, the student should notify his/her instructor in writing and provide a copy of his/her Student Accommodations Report (SAR), which is available only from Accessibility Services. Faculty cannot offer accommodations without timely receipt of the SAR; further, no retroactive accommodations will be given. For more information, please contact Accessibility Services.

Center for Academic Success: The Center for Academic Success provides services, programs, and opportunities to help all undergraduate students succeed academically. For more information, contact them: 678-839-6280 or [email protected]

University Writing Center: The University Writing Center assists students with all areas of the writing process. For more information, contact them: 678-839-6513 or [email protected]

Online Courses

UWG takes students’ privacy concerns seriously: technology-enhanced and partially and fully online courses use sites and entities beyond UWG and students have the right to know the privacy policies of these entities. For more information on privacy and accessibility for the most commonly used sites, as well as technology requirements visit the UWG Online site.

Students enrolled in online courses can find answers to many of their questions in the Online/Off-Campus Student Guide.

If a student is experiencing distress and needs help, please see the resources available at the UWG Cares site. Online counseling is also available for online students.

Honor Code

At the University of West Georgia, we believe that academic and personal integrity are based upon honesty, trust, fairness, respect, and responsibility. Students at West Georgia assume responsibility for upholding the honor code. West Georgia students pledge to refrain from engaging in acts that do not maintain academic and personal integrity. These include, but are not limited to, plagiarism, cheating, fabrication, aid of academic dishonesty, lying, bribery or threats, and stealing. 

The University of West Georgia maintains and monitors a confidential Academic Dishonesty Tracking System. This database collects and reports patterns of repeated student violations across all the Colleges, the Ingram Library, and the School of Nursing. Each incidence of academic dishonesty is subject to review and consideration by the instructor, and is subject to a range of academic penalties including, but not limited to, failing the assignment and/or failing the course. Student conduct sanctions range from verbal warning to suspension or expulsion depending on the magnitude of the offense and/or number of offenses. The incident becomes part of the student’s conduct record at UWG.

Additionally, the student is responsible for safeguarding his/her computer account. The student’s account and network connection are for his/her individual use. A computer account is to be used only by the person to whom it has been issued. The student is responsible for all actions originating through his/her account or network connection. Students must not impersonate others or misrepresent or conceal their identities in electronic messages and actions. For more information on the University of West Georgia Honor Code, please see the Student Handbook.

UWG Email Policy

University of West Georgia students are provided a MyUWG e-mail account. The University considers this account to be an official means of communication between the University and the student. The purpose of the official use of the student e-mail account is to provide an effective means of communicating important university related information to UWG students in a timely manner. It is the student’s responsibility to check his or her email.

Credit Hour Policy

The University of West Georgia grants one semester hour of credit for work equivalent to a minimum of one hour (50 minutes) of in-class or other direct faculty instruction AND two hours of student work outside of class per week for approximately fifteen weeks. For each course, the course syllabus will document the amount of in-class (or other direct faculty instruction) and out-of-class work required to earn the credit hour(s) assigned to the course. Out-of-class work will include all forms of credit-bearing activity, including but not limited to assignments, readings, observations, and musical practice. Where available, the university grants academic credit for students who verify via competency-based testing, that they have accomplished the learning outcomes associated with a course that would normally meet the requirements outlined above (e.g. AP credit, CLEP, and departmental exams).

HB 280 (Campus Carry)

UWG follows University System of Georgia (USG) guidance: http://www.usg.edu/hb280/additional_information#

You may also visit our website for help with USG Guidance: https://www.westga.edu/police/campus-carry.php

Mental Health Support

If you or another student find that you are experiencing a mental health issue, free confidential services are available on campus in the Counseling Center. Students who have experienced sexual or domestic violence may receive confidential medical and advocacy services with the Patient Advocates in Health Services. To report a concern anonymously, please go to UWGcares.

ELL Resources

If you are a student having difficulty with English language skills, and / or U.S. culture is not your home culture, specialized resources are available to help you succeed. Please visit the E.L.L. resource page for more information.

COVID-19

Proctored Exams/Online Instruction: Students should be aware and plan ahead for the possibility of having to complete all courses and/or exams online or in a proctored environment. This means talking with your instructors about what minimum technical requirements (software and hardware) will be required should your class move online or a student's personal needs dictate. This also includes making plans for internet access at whatever location participation may occur.

Virtual or in-person proctored exams, if your instructor should require them, may result in an additional cost to the student. Please discuss these details with your instructor or see the information provided here.

Face Coverings: Effective July 15, 2020, University System of Georgia institutions, including the University of West Georgia, will require all faculty, staff, students, and visitors to wear an appropriate face covering while inside campus facilities/buildings where six feet social distancing may not always be possible. Face covering use will be in addition to and is not a substitute for social distancing.

Face coverings are not required in campus outdoor settings where social distancing requirements are met. Anyone not using a face covering when required will be asked to wear one or must leave the area.

Reasonable accommodations may be made for those who are unable to wear a face covering for documented health reasons.

Student FAQs: For more information about UWG COVID-19 guidance for students visit the Student FAQ webpage

 

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