STANDARD COMPETENCIES:

 

 I.      List and describe the nature of real property concepts and characteristics.

 II.     Describe the economic principles that create and define value.

 III.    Discuss the effects of financing on real property value.

 IV.     Describe the legal considerations of Real Estate.

 V.      Describe the factors values which influence properties..

 VI.     List and describe types of value.

 VII.    Discuss and explain Real Estate markets and market analysis.

 VIII.   Discuss and explain the application of Ethics in Appraisal theory and practice.

 TOPICAL OUTLINE:

 

 I.      Real Property Concepts and Characteristics

         A.      Basic Real Property Concepts

         B.      Real Property Characteristics

         C.      Legal Description

 II.     Legal Consideration

         A.      Forms of Ownership

         B.      Public and Private Controls

         C.      Real Estate Contracts

         D.      Leases

 III.    Influences on Real Estate Values

         A.      Governmental

         B.      Economic

         C.      Social

         D.      Environmental, Geographic and Physical

 IV.     Types of Value

         A.      Market Value

         B.      Other Value Types

 V.      Economic Principles

         A.      Classical Economic Principles

         B.      Application and Illustrations of the Economic Principles

 VI.     Overview of Real Estate Markets and Analysis

         A.      Market Fundamentals, Characteristics, and Definitions

         B.      Supply Analysis

         C.      Demand Analysis

         D.      Use of Market Analysis

 VII.    Ethics and How They Apply in Appraisal Theory and Practice