This course is a prerequisite to all senior courses in real estate. It introduces the student to the nature of real estate and the principles of real estate analysis and utilization. Subjects include the real estate commodity and real property; the legal instruments involved in real property transactions; market analysis and the determinants of real estate values; the appraisal process and valuation techniques; investment and financial analysis; public aspects of real estate planning and land utilization; and technological impacts such as the Internet.

This course covers the real estate development process focusing on the physical/design dimension. It examines building economy through review of design, construction, and analysis procedures such as the site suitability analysis, cost engineering, and life cycle-costing. The course considers the impact of technology and virtual economic arrangements on the form and design of physical structures and the function of changing technical and economic activities on space needs. Traditional and technical databases and resources such as the Internet are incorporated.

CSP 1, 6, 7. This course covers the theory and techniques of appraising residential real estate by examining the principles of appraising, the appraisal process, and standards of performance. Elements of the Freddie Mac and Fannie Mae Uniform Residential Appraisal Report will be treated. The residential sales comparison, cost, and gross income capitalization approaches to valuing residential properties are presented. Methods of collecting and analyzing primary and secondary data from a variety of sources such as the internet are presented and used in preparing a demonstration appraisal report. The student is prepared to challenge beginning professional designation examinations.

Principles and methods of financing real estate, sources of funds, types and contents of financing instruments, and the role of various financing institutions, both private and governmental, are covered in this course. The latest elec- tronic technology is incorporated wherever possible.

In this course students apply investment principles and analytical techniques to decisions about real property. Emphasis is on the estimation of revenues, expenses, and risk/return relationships in investment valuation of real property, including yield rates and capitalization rates used in valuation as well as discounted cash flows. The effects of financing, income taxes, and entity selection upon investment performance are also considered. Students practice investment analysis using electronic technology.

The focus of this course is on the market valuation of income producing real estate stressing the market, cost, and income approaches to value. Of importance is the evolving relevance of real estate valuation information to corporate financial reporting and the needs and functions of corporate and investment fiduciaries. Both normative and actual models of valuation are presented and contrasted. Sources of appraisal error and bias are also examined.

This course focuses on the application of concepts learned in the courses in the real estate major. Students may analyze comprehensive cases, work on integrated projects, and study current issues in the real estate industry. Assignments will provide experience in critical thinking and problem solving using both mathematical analysis and writing with the support of appropriate technology.

In this course students examine the processes used to analyze supply and demand in the real estate market. The course focuses on using research methodologies to define the scope of analysis; identify data needs; collect information from various sources, including on-line resources; and interpret the results. Applications to different property types are discussed. Current market trends are also examined.

This course provides the basic knowledge and skills in the area of management of real property. Factors affecting cash flows are examined as well as the impact of human behavior on the acquisition, holding, and disposition of properties. Topics may include property management, planning/control and marketing techniques, electronic database management and analysis, real estate brokerage and asset management techniques, negotiation, and e-commerce aspects of real estate asset management.

This course is concerned with the governmental constraints applied to the physical growth and development of urban areas. The course materials trace the development of the rules, regulations, enabling acts, codes, ordinances, administrative practices, and related procedures as they apply to the growth, development, and redevelopment of cities, suburbs, and countryside.