Southern State Community College

Curriculum Committee – September 2018

REST 2275 – Real Estate Finance and Appraisal
Page 1 of 4

I. COURSE TITLE: Real Estate Finance & Appraisal

II. COURSE NUMBER: 2275 CATALOG PREFIX: REST

III. PREREQUISITES: None CO-REQUISITE(S): None

IV. CREDIT HOURS: 3 LECTURE HOURS: 3

LABORATORY HOURS: 0 OBSERVATION HOURS: 0

V. COURSE DESCRIPTION: Real Estate Finance and Appraisal is a study of the role of
financing in the real estate industry, ranging from nation-wide cycles of the finance
market to the particularities of PMI, Fannie Mae, and FHA loans. REST 2275 also
focuses on the theory and methodology of real estate appraisal. Contextual materials,
such as market analysis and mathematical study, and a detailed study of the three basic
appraisal techniques are included. This course is required for the Ohio licensing exams.

VI. COURSE OBJECTIVES:

At the successful completion of this course the student will:

1. Recognize financing terms

2. Explain sources of real estate funding.
3. Distinguish the instruments of real estate finance,
4. Describe the qualification and administering processes of real estate lending.
5. Explain the appraisal process
6. Compare the three basic approaches, Cost, Sales Comparison and Income
Capitalization
7. Differentiate between market value, market price and market cost.

VII. ADOPTED TEXT(S):

ESSENTIALS OF REAL ESTATE FINANCE

15th edition (or Current Edition)
by: David Sirota and Doris Barrell
Dearborn Real Estate Education
ISBN: 1-4277-8593-7

FUNDAMENTALS OF REAL ESTATE APPRAISAL

13th edition (or Current Edition)
by: William L. Ventolo and Martha R. Williams
Dearborn Real Estate Education
ISBN: 978-1-4754-6380-4

VIII. OTHER REQUIRED MATERIALS:

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Southern State Community College
Curriculum Committee – September 2018
REST 2275 – Real Estate Finance and Appraisal
Page 2 of 4
Will be at the discretion of the instructor

IX. GRADING:

A = 90 - 100
B = 80 - 90
C = 70 - 79
D = 60 - 69
F = <60

X. EVALUATION:
Sample Evaluation Format:

Grading % of Total
Frequency
Event Grade Points

Participation 15% Weekly 15

Summary 15% Weekly 15

Project 15% End of Class 15

Quiz 15% Weekly 15

Final Exam 40% End of Class 40

Total 100%   100

XI. COURSE METHODOLOGY:

The course will utilize the textbook as its primary pathway. Individual class sessions
may include lecture, discussion, video, guest presenters, online and handout material,
internet-based work assignments, student presentations, and quizzes and exams as
determined by the instructor.

Section XII – Course Outline - is on the next page

Revised 4/14/2018
Southern State Community College
Curriculum Committee – September 2018
REST 2275 – Real Estate Finance and Appraisal
Page 3 of 4

XII. COURSE OUTLINE:

SAMPLE Calendar Outline:

XWee Learning
Topics
k Objective
1 Sources of Money for Real Estate Financing 1, 2, 3, 4
2 What Determines the Cost of Mortgage Money 1, 2, 3, 4
The Mortgage Market and Financial
3 1, 2, 3, 4
Institutions
4 Types of Mortgages 1, 2, 3, 4
5 Creative Finance and Seller-Assisted Finance 1, 2, 3, 4
6 Single Family Property Financing 1, 3, 4
7 Introduction to Real Property Appraisal 1, 5, 6, 7
8 Basic Real Estate Principles 1, 2, 4, 5, 6, 7
9 The Valuation Process 5
10 Analysis of Neighborhood 5, 7
Site and Improvement Analysis
11 5, 7
Site Valuation
12 Cost Approach 6, 7
13 Sales Comparison Approach 6, 7
14 Income Capitalization Approach, Residential 6, 7
15 Reconciliation 5, 6, 7
16 Final Exam

XIII. SPECIFIC MANAGEMENT REQUIREMENTS:

Students are required to be in attendance in accordance with SSCC policy, and to

participate fully in class activities and discussions. Reading is to be done as assigned,
and homework tasks are required.

Classroom Conduct
Civility in the classroom is very important. As adults and professionals, students are
expected to conduct themselves in a courteous and respectful manner. Disruptive, rude,
sarcastic, obscene or disrespectful speech or behavior has a negative impact on
everyone, and will not be tolerated. Personal electronic devices, such as laptops,
Blackberries and cell phones, should be off or used only for class purposes. All
students are expected to be aware of, and to follow, SSCC’s Academic Misconduct
Policy.

XIV. OTHER INFORMATION:

Revised 4/14/2018
Southern State Community College
Curriculum Committee – September 2018
REST 2275 – Real Estate Finance and Appraisal
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FERPA: Students understand that work completed for this class may be seen by others
if used for demonstration or teaching purposes, during group activities, or while being
distributed. Some work may be read aloud or copied for limited distribution.

DISABILITIES: Students with disabilities may contact the Disabilities Service

Office, Central Campus, at 800-628-7722 or 937-393-3431.

GROWTH IN KNOWLEDGE, SKILLS, and ABILITIES: Students completing this

course successfully can expect to improve in the following:
 Administration and Management - Knowledge of business and management
principles involved in strategic planning, resource allocation, human resources
modeling, leadership technique, production methods, and coordination of people
and resources.
 Customer and Personal Service — Knowledge of principles and processes for
providing customer and personal services. This includes customer needs
assessment, meeting quality standards for services, and evaluation of customer
satisfaction.
 Computers and Electronics — Knowledge of computer hardware and software,
including applications.
 Problem Sensitivity - The ability to tell when something is wrong or is likely to
go wrong. It does not involve solving the problem, only recognizing there is a
problem.
 Complex Problem Solving — Identifying complex problems and reviewing
related information to develop and evaluate options and implement solutions.
 Critical Thinking — Using logic and reasoning to identify the strengths and
weaknesses of alternative solutions, conclusions or approaches to problems.
 Systems Analysis — Determining how a system should work and how changes in
conditions, operations, and the environment will affect outcomes.
 Deductive Reasoning — The ability to apply general rules to specific problems
to produce answers that make sense.
 Inductive Reasoning — The ability to combine pieces of information to form
general rules or conclusions (includes finding a relationship among seemingly
unrelated events).

Revised 4/14/2018