Real Estate Valuation and Appraisal

This course covers the theory, principles and techniques for the appraisal of real property. Estimates of market value are explained for single-family residences (detached, cooperatives, and condominiums) and for income-producing investment properties (apartments, retail, office, etc.) using the sales comparison, cost less depreciation, and income capitalization methodologies. Leased fee-leasehold valuation and land or site valuation are also explained. Students will complete a short-form appraisal report and will be responsible for homework problems and cases as assigned.