Real Estate Appraisal
Academic Year 2023/2024 - Teacher: Giuseppe CUCUZZAExpected Learning Outcomes
To supply conceptual and practical skills in the field of real estate appraisal in order to produce appraisal reports consistent with international standard rules.
Knowledge and understanding: to identify estimation criterion and estimation phases;
Applying knowledge and understanding: to apply estimation procedures and the reference legislation;
Making judgments: to search, organize and analyze data on comparables and the subject;
Communication skills: to acquire an adequate technical language and to be able to appropriately communicate estimation results, also through the drafting of evaluation reports compliant with international evaluation standards;
Learning skills: to face advanced case studies with a high degree of autonomy.
Course Structure
Lectures (21 hours) exercises and other activities (42 hours, case studies discussion; working group; thematic seminars).
Drafting of a final report.
As a guarantee of equal opportunities and in compliance with current laws, interested students can ask for a personal interview in order to plan any compensatory and/or dispensatory measures, based on their specific needs and on teaching objectives of the discipline. It is also possible to ask the departmental contacts of CInAP (Center for Active and Participatory Integration - Services for Disabilities and/or DSAs), in the persons of professors Giovanna Tropea Garzia and Anna De Angelis.Required Prerequisites
Attendance of Lessons
Not mandatory but highly recommended to aid the learning process
Detailed Course Content
To supply conceptual and practical skills in the field of real estate appraisal in order to produce appraisal reports consistent with international standard rules.
Knowledge and understanding: to identify estimation criterion and estimation phases;
Applying knowledge and understanding: to apply estimation procedures and the reference legislation;
Making judgments: to search, organize and analyze data on comparables and the subject;
Communication skills: to acquire an adequate technical language and to be able to appropriately communicate estimation results, also through the drafting of evaluation reports compliant with international evaluation standards;
Learning skills: to face advanced case studies with a high degree of autonomy.Textbook Information
1. Appraisal Institute (2013). The Appraisal of Real Estate, 14th Edition.
Course Planning
| Subjects | Text References | |
|---|---|---|
| 1 | Elements of financial mathematics | Text 1 |
| 2 | Basic of statistics | Teaching material provided by the teacher |
| 3 | Market-oriented appraisal methods: traditional approaches; market comparison approach; paired data analysis; general systems approach; nearest appraisal technique; regresssion models | Text 1 |
| 4 | Cost approach and income approach | Text 1 |
| 5 | Real estate market and market analysis. Appraisal standards. The appraisal report. Professional practices and law | Teaching material provided by the teacher |
| 6 | elements of forestry appraisal; elements of land register and buildings register; environmental assessment elements; resolutions of notable estimative cases | Teaching material provided by the teacher |
| 7 | Special appraisal: the estimate of real rights; the estimate in expropriations for public utility; the estimate of rural buildings, the estimate of a rustic land, the estimate of a land susceptible to improvement, the estimate of fruit trees, the estimate of hanging fruit and crop advances, judgments of convenience on the execution of a land improvement | Teaching material provided by the teacher |
Learning Assessment
Learning Assessment Procedures
Verification of learning takes place through an oral interview and any intermediate tests. The evaluation of the student's preparation will take place on the basis of the following criteria: learning ability and level of depth of the topics covered, properties of synthesis and exposition, and the student's ability to reason.
The vote follows the following scheme:
Unsuitable -Knowledge and understanding of the topic: Important shortcomings. Significant inaccuracies. Ability to analyze and synthesize: Irrelevant. Frequent generalizations. Inability to synthesize. Use of references: Completely inappropriate
18-20
Knowledge and understanding of the topic: At the threshold level. Obvious imperfections. Analysis and synthesis skills: Just enough skills. Use of references: As appropriate
21-23
Knowledge and understanding of the topic: Routine knowledge Analysis and synthesis skills: It is capable of correct analysis and synthesis. Argue logically and consistently. Using references: Use standard references
24-26
Knowledge and understanding of the topic: Good knowledge. Analysis and synthesis skills: has good analysis and synthesis skills. The arguments are expressed consistently. Using references: Use standard references
27-29
Knowledge and understanding of the topic: Knowledge more than good. Ability to analyze and synthesize: has considerable abilities of analysis and synthesis. Use of references: Has explored the topics
30-30L
Knowledge and understanding of the topic: Excellent knowledge. Ability to analyze and synthesize: has considerable abilities of analysis and synthesis. Use of references: Important insights.
Examples of frequently asked questions and / or exercises
Estimation stages
Estimation procedures
Regression models
Depreciation
Expropriations for public utility
Valuation standards