RE 4500 Real Estate

Spring 2012 (T,TH: 9:30-10:45 AM) BB 114 Instructor: Dr. Billie Ann Brotman Contact Info: Tel# (770) 423-6496 Office BB 325 Email babrotman@aol.com Office Hours T,TH: 8:00-11:00 AM and by appointment Prerequisites: FIN 3100 Calculator Policy: NO Graphing or Programmable Calculators, No Cell Phones Recommendations: Scientific Calculator or Business Calculator any brand Book: Real Estate Finance and Investments, Brueggeman and Fisher, McGraw-Hill, Irwin. (Earlier edition of the book 11th-15th can be used) Students identify problems and opportunities that can be addressed through the use of lending and appraisal models. Students evaluate cash flow problems, mortgages, and evaluate the risk and cost of alternative loan provisions. (Assessment Class, Homework and Tests) Critical Thinking

Students will analyze the impact of Participation Loan provisions on the profitability and liquidity of a business. Several alternative models measuring return and risk are reviewed and discussed. (Assessment-Class, Homework and Tests) Perspectives

Students work in groups to solve problems in class; and to solve take- home test review problems. They interact in a learning environment and analyze solutions to cases and problems. (Assessment-Class, Homework and Tests) Interaction

Catalog Description: This Real Estate course examines the principles and procedures of real estate appraisal, the transfer process for property, and financing methods for residential and commercial real estate. Topics of interest include the income and cost associated with developing and managing real property and analyzing real estate as an investment opportunity. Course Objective: Assist each student to achieve a solid knowledge of the basic financial concepts, principles and methods. Understanding basic finance will serve you well in your personal financial affairs throughout your life, e.g. investing, mortgages. Lectures, discussions and exercises will emphasize the why context as well as the events to the extent practicable. The order and depth of coverage of topics will be prioritized to enhance preparation for more advanced financial courses. Attendance Policy and Other Information: Regular attendance at RE 4500 is expected and can directly affect you ability to master the material and perform well on exams. Homework problems assigned during the semester will be discussed in class and be typical of exam problems. You should attend class having already read the text chapter and prepared with you own solutions to assess you comprehension of the material and raise questions. Lectures and discussions will include non-text current material and occasional handouts that will be reflected in some questions on exams. There is no automatic grade policy for missing class and no notification required when you expect to miss class. If you frequently miss class, it can jeopardize your awareness of and performance on an examination. Missing an exam DOES require prior notification and is acceptable only under emergency conditions of circumstances beyond you control. Refer to the section below on Grade Policy. Students are responsible to stay current in regards to announcements regarding exam dates and/or adjustments to the schedule. Absence from class does not relieve this responsibility. Changes from the original syllabus schedule are sometimes necessary because of the rate of progress through the curriculum. All students should identify a couple others in the class to support each other to learn about any test announcements or schedule adjustments. Arrange to share lecture notes to cover absences. Notice regarding class enrollment: Students must exclusively attend the course section in which they are officially enrolled. Your grade will be based on your performance in that course section. It is your responsibility to check your registration form and confirm that you are attending the course and section in which you are enrolled. There will be no adjustments made to class rolls once the Drop-Add period ends. Academic Integrity: Every KSU student is responsible for upholding the provisions of the Student Code of Conduct, as published in the Undergraduate and graduate Catalogs. Section II of the Student Code of Conduct addresses the Universitys police on academic honesty, including provisions regarding plagiarism and cheating, unauthorized access to University materials, misrepresentation/falsification of University records or academic

work, malicious removal, retention, or destruction of library materials, malicious/intentional misuse of computer facilities and/or services, and misuse of student the established procedures of the University Judiciary Program, which includes either an informal resolution by a faculty member, resulting in a grade adjustment, or a formal hearing procedure, which may subject a student to the Code of Conducts minimum one semester suspension requirement. Counseling, advising and Program Services (CAPS): The CAOS Center (Kennesaw Hall, 2nd Floor) is staffed by professional counselors who are trained to provide you with confidential counseling on personal, academic, and career issues. Academic counseling includes issues such as advising, study skills, test anxiety, time management and others. The CAPS Center also offers a series of workshops each semester on topics ranging from time management to depression. Disabled Student Support Services: KSU provides program accessibility and reasonable accommodations for persons defined as disabled under Section 504 of the Rehabilitation Act of 1973 or the Americans with Disabilities Act of 1990. If you hafe a hidden of visible disability that may require classroom or test accommodation, please see me as soon as possible during scheduled office hours. If you have not already done so, please register with the KSU Disabled Student Support Services. No requirements exist that accommodations be made prior to completion of this approved university process. Classroom Etiquette: The intention is to maintain a comfortable, interesting, interactive and positive learning environment in the classroom. I also encourage early contact and use of office hours when a student is having difficulty with course material. Students should come to class prepared to participate in class discussions and raise questions when material is unclear. Students should arrive promptly for class and return on time from breaks. Please be considerate of others when questions are asked or opinions are being expressed. Students will be asked to leave the classroom if the engage in actions disruptive to the rest of the classs ability to concentrate on the lecture. Sleeping and carrying on side conversations is disrespectful of your fellow students and instructor. Cell phones and beepers should be OFF or on VIBRATE and only used outside the classroom.

Grading Policy: No examinations will be dropped. There are 3 examinations scheduled during the semester plus an optional final examination. There are No make-up tests for examination 1, 2 or 3. Grades will be totaled when assigning the grade for the semester. There are NO make-up exams. Missed examinations result in lost points and there are NO extra-credit opportunities. The Final examination or examination 4 is optional. Note at least 3 of 4 examinations must be taken. All examinations are equally weighted when calculating your semester grade. Early examinations will be given only when available.

The Final Exam (4thexamination) will cover lecture content AND material emphasized from the earlier chapters. There are NO make-up exams except for the final exam. Missed Exams result in lost points and there are: NO extra credit outside opportunities available to any student. It is my intention to give each student proper exam credit. Students should review their returned exams scores for correct grading. If a student suspects any incorrect grading, it must be brought to my attention within seven days after the exam is returned. I will clearly indicate during lectures the topics and type of problems that will be emphasized on the exams. Exam problems will reflect problems covered in class. Approximately 90% of each exam will cover content shown in the schedule below as Lecture (Primary) while the balance of the exam will cover information from Student Study that the student is expected to study outside of lecture. Of course, questions or difficulties with Student Study content SHOULD be raised in class for clarification. At least one week in-class notice will be given if the date of an exam or its coverage is adjusted. It is each students responsibility to stay aware of such changes, even if absent from lecture. Regular class attendance is you most effective safeguard. COURSE WITHDRAWAL: Last date to withdraw from class without academic penalty is March 12, 2012. Course withdrawal must be accomplished through the Registrars Office and is NOT made official by notifying me. Course grade is based on weighted exams as follows: A = 89.5 + up, B = 79.5 89.49, C = 69.5 79.49, D = 59.5 69.49, F = below 59.5 Dates 1/10/12 1/12 -2/19 2/24-3/9/12 Feb. 14, 2012 2/16- 3/1/12 March 12/2012 3/13-3/222/12 March 27, 2012 3/29-4/5/12 4/10-4/17 4/19/12 4/24/12 4/26/2012 May 3,2012** Chapters Introduction, Chapter 3 Chapter 4 START Chapters 4, part of Chapter 5 Examination 1 Chapters 5 Drop Date Chapter 7 Examination 2 Chapter 9, MIRR and FMRR rate Chapter 10, Duration, Partitioning Participation Loans (if time permits) Examination 3 Review for the Final Examination Final Examination 8:00-10:00 AM (**time)

Last day to withdraw without academic penalty is: March 12, 2012.

Changes to the time table noted for covering chapters and testing may occur and will be announced during regularly scheduled class times and meetings. Handout problems will be reviewed in class. Many of the concepts are discussed in class. Students will be tested on book and classroom discussions. Practice sheet will be distributed prior to each examination. Please, be certain to collect and study this information. KSU is closed Jan. 16th and during Spring Break.