Contemporary Issues in Real Estate Markets

Catalog description

This course surveys important issues in real estate markets, including special characteristics of real estate markets, valuation of real properties, mortgage mechanics and calculations, valuing investment opportunities, financing corporate real estate, financing project development, and the secondary mortgage market After taking this course, students will be able to: 1. Demonstrate understanding of basic features of real estate markets; 2. Value real estate using the sales comparison approach and the income approach; 3. Conduct mortgage-related calculations and make mortgage-financing decisions; 4. Calculate before and after tax cash flows from income properties; 5. Make investment decisions for income properties, and conduct sensitivity analysis; 6. Conduct sensitivity analysis, partition Internal Rate of Return (IRR), and apply the real option approach in making investment decisions; 7. Make real-estate-related decisions for non-real estate firms; 8. Demonstrate understanding of the financing of project development; 9. Know cash-flow mechanics and risk-sharing attributes of some mortgage-backed securities, 10. Demonstrate understanding of Real Estate Investment Trusts (REITs) and their role in real estate investment