RE 14 – Page 1
Date Approved:
2/6/90
Date Scanned:
5/26/2005
College of the Redwoods
CREDIT COURSE OUTLINE
DEPARTMENT AND COURSE NUMBER: Real Estate 14
DEGREE APPLICABLE
NON-DEGREE APPLICABLE
FORMER NUMBER (If previously offered)
COURSE TITLE Real Estate Appraisal
LECTURE HOURS: 3.0
LAB HOURS: 0.0
UNITS: 3.0
PREREQUISITE: None; RE 10 recommended
Eligibility for: Engl 150
Math 105
Request for Exception Attached
CO-REQUISITE: None
GRADING STANDARD:
Letter Grade Only
TRANSFERABILITY:
CSUS
UC
Articulation with UC requested
Repeatable
yes
no
CR/NC Only
NONE
Max No. Units
Grade/CR/NC Option
Maximum Class Size 50
Max No. Enrollments
CATALOG DESCRIPTION:
A general discussion of the factors influencing real estate value and an in-depth analysis of the three
principal approaches to real estate appraisal: the market approach, cost approach, and income approach.
NOTE:
COURSE OUTCOMES/OBJECTIVES: List the primary instructional objectives of the class. Formulate
some of them in terms of specific measurable student accomplishments, e.g., specific knowledge and/or
skills to be attained as a result of completing this course. For degree-applicable courses, include
objectives in the area of “critical thinking.” Upon successful completion of this course, the student will be
able to:
1.
2.
3.
4.
5.
understand the basic influences upon real estate value
analyze changes in real estate markets.
apply site and improvement inspection techniques.
apply the market, cost, and income approaches to appraisal assignments.
prepare a professional-quality appraisal.
RE 14 – Page 2
Date Approved:
2/6/90
Date Scanned:
5/26/2005
COURSE OUTLINE:
Introduction to Appraisal
Legal Descriptions
Formal Appraisal Process
Community and Neighborhood Analysis
Principles of’ Valuation
Site Inspection
Area and Volume Calculations
Property Inspection
Understanding Construction Details
Functional Utility and Architectural Styles
Introduction to Market Approach
Analyzing and Adjusting Comparables
Site Valuation
Estimating Cost of Construction
Accrued Depreciation
Applying the Cost Approach
Introduction to Income Approach
Gross Income
Annual Expenses
Capitalization Theory
Reconciling Value Estimates
Letter Reports
Form Reports
Narrative Reports
% of Classroom Hours Spent on Each Topic
2%
5%
2%
7%
5%
2%
2%
5%
5%
2%
5%
5%
5%
5%
5%
2%
2%
5%
5%
5%
5%
2%
5%
7%
RE 14 – Page 3
Date Approved:
2/6/90
Date Scanned:
5/26/2005
APPROPRIATE TEXTS AND MATERIALS: (Indicate textbooks that may be required or recommended;
including alternate texts that may be used.)
Text(s)
Title
Fundamentals of Real Estate Appraisal
Required
Alternate
Edition
Current
Recommended
Author
Williams
Publisher RE Estate Education Co.
Date Published 1988
(Additional required, alternate, or recommended texts should be listed on a separate sheet and attached.)
For degree applicable courses the adopted texts have been certified to be college-level:
Yes. Basis for determination:
is used by two or more four-year colleges or universities (certified by the Division Chair or
Branch Coordinator, or Center Dean)
OR
has been certified by the LAC as being of college level using the Coleman and Dale-Chall
Readability Index Scale.
No. Request for Exception Attached
If no text or a below college level text is used in a degree applicable course must have a minimum of one
response in category 1, 2, or 3. If category 1 is not checked, the department must explain why substantial
writing assignments are an inappropriate basis for at least part of the grade.
1. Substantial writing assignments, including:
essay exam(s)
term or other paper(s)
written homework
reading report(s)
laboratory report(s)
other (specify) _____
If the course is degree applicable, substantial writing assignments in this course are inappropriate
because:
The course is primarily computational in nature.
The course primarily involves skill demonstrations or problem solving.
Other rationale (explain) __________________________________________
2. Computational or Non-computational problem-solving demonstrations, including:
exam(s)
quizzes
homework problems
laboratory report(s)
field work
other (specify)_______
3. Skill demonstrations, including:
class performance(s)
other (specify)____
4. Objective examinations, including:
multiple choice
completion
field work
performance exam(s)
true/false
other (specify)
matching items
5. Other (specify) Professional quality FNMA Residential Appraisal
NOTE: A course grade may not be based solely on attendance.
RE 14 – Page 4
Date Approved:
2/6/90
Date Scanned:
5/26/2005
REQUIRED READING, WRITING, AND OTHER OUTSIDE OF CLASS ASSIGNMENTS:
Over an 18-week presentation of the course, 3 hours per week are required for each unit of credit. ALL
Degree Applicable Credit classes must treat subject matter with a scope and intensity which require the
student to study outside of class. Two hours of independent work done out of class are required for each
hour of lecture. Lab and activity classes must also require some outside of class work. Outside of the
regular class time the students in this class will be doing the following:
Study
Answer questions
Skill practice
Required reading
Problem solving activity or exercise
Written work (essays/compositions/report/analysis/research)
Journal (reaction and evaluation of class, done on a continuing basis throughout the
semester)
Observation of or participation in an activity related to course content (e.g., play, museum,
concert, debate, meeting, etc.)
Field trips
Other (specify) ____________________________
COLLEGE LEVEL CRITICAL THINKING TASKS/ASSIGNMENTS:
Degree applicable courses must include critical thinking tasks/assignments. This section need not be
completed for non-degree applicable courses. Describe how the course requires students to
independently analyze, synthesize, explain, assess, anticipate and/or define problems, formulate and
assess solutions, apply principles to new situations, etc.
Analyze market trends and forces affecting value; analyze, synthesize and verify data collected in the
evaluation process; and apply the market, income, and cost approaches to a subject property.