I. Class Time and Location: 10:10-11:00 MWF, A202 P&AS

II. Course Description: Introduction to the basic principles and procedures of real estate appraisal. Topics include the real estate market, principles of valuation, building and site analysis, legal concepts and the application of the three approaches to real estate valuation. Single family housing and rural lands will be highlighted.

III. Prerequisite: FIN 307 or consent of instructor.

IV. Major Instructional Goals: The major goal of the course is to familiarize students with basic principles and techniques of real estate appraisal.

V. Proposed Course Content:

	a. Introduction
	b. Appraisal Profession
	c. Professional Standards and Ethics
	d. Basic Definitions
	e. Real Estate Markets and Analysis
	f. Valuation Process
	g. Money and Capital Markets
	h. Fee Simple and Partial Interests
	i. Data Collection and Analysis of General Data
	j. Analysis of Neighborhoods
	k. Building Analysis
	l. Highest and Best Use Analysis
	m. Site and Land Analysis
	n. Cost Approach
	o. Income Approach
	p. Sales Comparisons Approach
	q. Application of Sales Comparison
	r. Forest, Agricultural and Rural Land Valuation
	s. The Appraisal Report

VI. Student Evaluation:

Grading will be based upon a curve. However, 90% will insure an A, and 55% or less will insure an F.

Students are required to take exams at the times scheduled. Exam dates for major exams will be announced in class and it is the student's responsibility to be informed as to the dates.

VII. Material presentation will be primarily lecture with significant classroom discussion and interaction.

VIII. Textbooks:

Required -- The Appraisal of Real Estate, American Institute of Real Estate Appraisers, Chicago, Illinois, Eleventh Edition, 1996.

Required -- A 15-week subscription to the Wall Street Journal.

Suggested -- Floyd, Charles and Allen. Real Estate Principles. Dearborn Financial 6th Edition 1997.

IX. Class Attendance Policy:

University policy on class attendance (see Student Handbook). According to the handbook a student may be dropped from a course for excessive absences.

X. Academic Dishonesty:

Academic integrity is expected. The Clemson University official statement on Academic Integrity is as follows: "As members of the Clemson University community, we have inheirited Thomas Green Clemson's vision of this institution as a 'high seminary of learning.' Fundamental to this vision is a mutual commitment to truthfulness, honor, and responsibility, without which we cannot earn the trust and respect of others. Furthermore, we recognise that academic dishonesty detracts from the value of a Clemson degree. Therefore, we shall not tolerate lying, cheating, or stealing in any form." The Clemson University regulations regarding academic dishonesty will be enforced in this class.

XII. Office hours: By appointment and immediately after class.

Note: This syllabus is preliminary and is subject to change. The syllabus distributed in class is the official version.

Spring 2006 Course List   Ag Econ Home

updated 2/8/06