| | Searching Current Courses For Fall 2016 |
| |
Course: |
REE 125
|
|
| |
Title: | Residential Market Analysis |
|
| |
Long Title: | Residential Market Analysis |
|
| |
Course Description: | Develop a basic understanding of how international, national, regional, local, and neighborhood market conditions affect the value of the residential property under consideration. Understand how the four elements of highest and best use, physically possible, legally permissible, financially feasible, and maximally productive, affect residential properties. |
|
| |
Min Credit: | 1 |
|
| |
Max Credit: | |
| |
Course Notes: | Entered new course 3/6/06 s@ |
|
| |
Origin Notes: | EGOS |
|
STANDARD COMPETENCIES:
I. Comprehend general Real Estate markets and their unique characteristics.
II. Understand what a neighborhood is and how to delineate neighborhood boundaries.
III. Understand the four stages in a typical neighborhood life cycle.
IV. Discuss basic mortgage terminology and concepts.
V. Define highest and best use.
VI. Understand the traditional tests which are commonly used to estimate highest and best use.
VII. Understand why highest and best use analysis is applied to the site as if vacant and as currently improved.
TOPICAL OUTLINE:
I. Background information on real estate markets and quantitative and qualitative applications
A. Residential appraisal
B. Emphasizes the interrelationships between financial markets and real estate markets.
II. Principles of highest and best use
III. Typical constraints on the application of this concept.
IV. Highest and best use is an integral and fundamental part of the appraisal process
V. Most definitions of market value assume that the subject property is used in its highest and best use.
Skip to top of page
