Real Estate Course 4 meets the requirements of the 2008 Appraisal Qualifications Board of the Appraisal Foundation and follows their outline.   It covers statistics, modeling, and finance and is accepted for all four levels of appraisal licensure, including trainee, licensed appraiser, certified residential, and certified general. Additionally, this core course meets the California Department of Real Estate (DRE) salesperson and broker pre-license real estate finance requirements.

Units - 3.0

Prerequisite: None.

Upon successful completion of the required course work, the student will be able to:

1. define complex property concepts, ownership and market conditions;

2. identify how to derive adjustments and support them;

3. demonstrate how to perform a residential market analysis;

4. distinguish between value, price and cost;

5. list and explain the proper application of the elements of production;

6. explain in detail how social, economic, and governmental factors affect value.

A. Statistics, Modeling, and Finance 15 hours

1. Statistics

2. Valuation models (AVM’s and mass Appraisals)

3. Real estate finance

B. Introduction to Finance 6 hours

2. Real estate cycles

3. Primary market

C. Lending Rules 5 hours

1. Secondary market

2. Consumer protection

3. State regulation

D. How to Process a Loan 6 hours

1. Financial instruments

2. The loan process

3. Seller financing

E. Other Types of Financing 7 hours

1. Alternative financing

2. Federal Housing Authorities (FHA) and Veterans Administration (VA) Loans

3. Seller financing

F. Qualifying 6 hours

1. Qualifying the borrower

2. Qualifying the property

3. Financing math

G. State Specific Lending Programs 3 hours

1. Texas and New York

2. Cal-Vet

3. Escrow procedures

(WITHOUT FINAL) TOTAL HOURS - 48

The following instructional methodologies may be used in the course:

1. lectures;

1. Quizzes.

2. Midterm examination.

3. Final examination.