The measurement of the market real estate value is the main subject of this course. Students examine fundamental concepts, professional standards, principles, approaches, methods and procedures in property valuation. While detailed solutions are included for an important variety of appraisal issues the emphasis is on the logic and principles. The goal is to teach students to think about valuation in a logical, intuitive way, so they are able to creatively solve problems from the real world.
The students will understand the importance and role of the appraisal profession in actual real estate market. By the end of the course, the student should understand the determinants of value in marketplace and feel comfortable with all the three approaches in valuation: comparison, income and cost and with the valuation process.