Course Number: Finance 370
Course Title: Principles of Real Estate
Term, Level, and Credit: Spring, 2002, Upper Division, 3 Semester Hours
Course Description: A survey course in the economic and financial aspects of investing in real estate. Urban economic growth and development, property valuation, mortgage and equity financing, mortgage market operations, portfolio analysis, taxation and investment analysis will be covered. Emphasis of the course is on home ownership and investing in small income-producing properties.
Course Text and Required Materials: Real Estate Decisions, by Donald R. Epley, Joseph S. Rabianski and Richard L. Haney, Jr., 2002
Course Objective: To learn the fundamentals of purchasing, leasing and investing in residential and commercial real estate. Students will learn about the financial analysis of investing, appraising real estate and the economic, financial market and legal environment in which investors participate. The course objective will be achieved through:
1. Course examinations
2. Written quizzes.
3. Written reports using the internet.
4. Internet assignments (if available) through the textbook web site.
Course Requirements: There will be three exams (including the
final exam) consisting of true/false, multiple choice, short-answer essay
questions and problems. The dates for the exam are set, the exact
chapters to be covered on each exam may vary from those listed on the course
outline. Material for the exams will come from the text and class
material. The final exam may be comprehensive.
There will also be about 5 quizzes, all are required and will
count in the course grade. Make-up quizzes will be permitted, but
only if the student notifies the instructor before the quiz is given that
a scheduled quiz will be missed. Students are required to complete
and turn in at least project. The main project will consist of financial
research using the internet to collect data on residential prices and mortgage
interest rates. The project papers are to be typed. Late projects
will be reduced one letter grade for each day late.
Letter grades for the course will be assigned based on the weighted
average of the scores for the exams, quizzes and project(s) using the following
weights and the course grades will be curved.
Exam 1
25%
Exam 2
25%
Final Exam
25%
Quizzes
10%
Project
15%
100%
If an exam must be missed, the student must give notice before the exam date. The weight of the missed exam will be added to the weight of the final exam. Any exam missed without notice before the exam date will receive a score of zero and the student will receive a failing grade for the course. No make-up exams will be given. There will be no incomplete grades given, except under the most severe and unusual circumstances.
Class Attendance and Academic Honesty: It is the responsibility and the expectation that each student will attend class. Each student bears the responsibility for all material covered in class and each assignment whether the student is in class or not. Each student is responsible for knowing and understanding the material, and the consequences for not attending class. Any student found cheating will be assigned a failing grade for the course and will be reported to the Vice chancellor for Student Affairs and to the Dean of the School of Business Administration for further disciplinary action.
Withdrawal Dates:
March 8 – Last day to drop with a WD
No withdrawals will be permitted after March 8 except
for circumstances as specified in the University
Catalog, page 36
Students with Disabilities: Any student eligible for and requesting academic accommodations due to a disability is requested to provide a letter of accommodation from P.A.C.E. or Student Academic Support Center within the first two weeks of the semester.
THE UNIVERSITY OF TENNESSEE AT MARTIN
College of Business and Public Affairs
Department of Accounting, Finance & Economics
Course Syllabus
Course Number, Section and Semester: Finance 370, Section 001, Spring 2002
Instructor: Dr. Arnold L. Redman
E-Mail Address: aredman@utm.edu
Office Location: Business Administration Building, Room 206
Office Telephone: 587-7248
Office Hours: 8:30 – 9:30 T, TH; 11:00– 12:00 T, TH; 4:00– 5:00 T, TH;
9:00 – 12:00 W; other times by appointment
TENTATIVE SCHEDULE
Date Chapter Topic
1/8 Course Introduction
1/10 1 Nature of Real Estate
1/15 2 Legal Descriptions of and Controls on Real Estate
1/17 3 Real Estate Markets and Economics
1/22 3 Markets and Economics Continued
1/24 4 Introduction to Property Valuation
1/29 4 Valuation Fundamentals Continued
1/31
5
Valuation - Cost and Direct Sales Comparison
Approaches
2/5 5 Cost and Market Approaches Continued
2/7 6 Introduction to Income Property Appraisal
2/12 6 Income Property Appraisal Continued
* * * * EXAM 1 February 14 * * * *
2/19
7
Property Market Analysis -Demand and Supply
Analysis
2/21 7 Market Analysis Continued
2/26 Introduction to Present Value and Mortgage Math
2/28 8 Fundamentals of Mortgage Financing
3/5 8 Mortgage Financing Continued
3/7 9 Residential Mortgages and Mortgage Markets
3/11 -- 3/15 SPRING BREAK
3/19 10 Commercial Property Debt Financing
3/21 11 Real Estate Investing Decisions
3/26 11 Real Estate Investing Continued
* * * * EXAM 2 March 28 * * * *
4/2 12 Property Taxation
4/4 12 Property Taxation Continued
4/9 13 Real Estate Brokerage - Client Viewpoint
4/11 14 Real Estate Contracts in Decision Making
4/16 15 Property Management
4/18 16 Deeds and Transfer of Ownership
4/23 17 (optional) Land Development
4/25 REVIEW
5/8 * * * * FINAL EXAM 10:00 a.m. – 12:00 noon * * * *