REAE 3325.031: REAL ESTATE FUNDAMENTALS
FALL 2002
SYLLABUS
M, W, F 9:00-9:50 AM
ROOM 243 Business Building
Professor: J. Andrew Hansz, Ph.D., CFA
Office: 619 Business Building
Office Hours: By appointment and 10:00 to 11:00 AM, Monday, Wednesday and Friday
Phone: (817) 272-5843
E-mail: hansz@uta.edu
Website: https://websites.uta.edu/hanszja/ (A course outline is available.)
Teaching Assistant: Chanwit Phengpis
Course Description:
A foundation for study and research in specialized areas such as real estate finance, real estate investment and counseling, real estate management, real estate development, and property appraising.
Prerequisites:
MATH 1316 and junior standing. Completion of the spreadsheet based Finance Tutorial: Time Value of Money Tutorial is required for all students. It may be purchased at the University Bookstore. Print each lesson after it is completed. Submit the “Proof of Purchase” (blue cover sheet) or the pink “Prior Completion” form (for those that have previously completed the tutorial). All tutorials are due no later than the last day of class, but may be submitted earlier. If you do not complete the finance tutorial or submit a prior completion form you will not receive credit for the course.
Course Objective:
This course presents a variety of concepts and vocabulary that are useful for real estate consumers, investors, and professionals.
Course Format:
- Lectures and Assignments – The course will be conducted on a lecture basis with discussion and questions encouraged. Specific readings in the required text will be assigned for each class period. It is expected that assignments will be read prior to class.
- Quizzes and Final Exam – Three quizzes and a cumulative final exam. Quizzes and the final exam are primarily objective style questions.
- Attendance and participation is encouraged.
Textbook:
- Real Estate Principles, 7th Edition; Charles F. Floyd and Marcus T. Allen, Dearborn Financial Publishing, Inc. 2002.
Calculators:
A basic financial calculator is required and you should know how to operate the time-value-of-money functions. You may NOT use Palm Pilots, calculators with extended memory, or other similar devices on the examinations.
Grading:
| Percent | |
|---|---|
| Exam 1 | 20% |
| Exam 2 | 20 |
| Exam 3 | 20 |
| Final Exam | 35 |
| Homework/Class Attitude | 5 |
| Total | 100% |
Generally, the grading scale used by the Instructor can be:
| 90 – 100% | A |
| 80 – 89% | B |
| 70 – 79% | C |
| 60 – 69% | D |
| Below 60% | F |
The instructor can apply a “curve” which could lower these ranges. The distribution of final grades will normally adhere to the guidelines of the Department of Finance and Real Estate. These guidelines are generally based on College of Business Administration averages for similar courses. Also, your final exam may replace your lowest midterm exam grade.
For your privacy, NO grades (including exams, homework, or final grades) will be posted in a public area and NO grades will be disclosed over the phone or e-mail. Exams and homework will be returned in-class and you will have an opportunity during class to review your work.
Make-Up Examination Policy:
No make-up quizzes. If you miss one of the quizzes, your final exam score will replace your single lowest quiz grade.
Other Exam Policies
- Due to the large size of the class, each student must bring his/her University ID to exams.
- Students must also bring Scan-tron form #882E, which is available at the bookstore.
Policy on Attendance:
Students are expected, but not required to come to each class session. It is the student’s responsibility to prepare for all classes, particularly a missed class. YOU will be responsible for any and all material or announcements discussed in the class. Student should obtain any lecture notes, handouts, and announcements from classmates. You should get to know at least one student in the class and the instructor will introduce you to at least one student during the first class orientation.
Policy on Handing in Assignments Late:
Several homework assignments will be made during the semester. A penalty per class period will be assessed for all assignments turned in late. Absence from class is not a valid excuse for handing in homework assignments late.
Policy on Disruptive Classroom Behavior:
This course will be conducted in a professional manner. Unprofessional behavior of any form in the classroom will not be tolerated. Students can be withdrawn at the discretion of the instructor for unacceptable behavior. Additionally, a portion of the final grade is attributed to class attitude/contribution. This grade, made at the instructor discretion, is based on attendance and attitude during class.
Academic Honesty:
It is the philosophy of The University of Texas at Arlington that academic dishonesty is a completely unacceptable mode of conduct and will not be tolerated in any form. All persons involved in academic dishonesty will be disciplined in accordance with University regulations and procedures. Discipline may include suspension form the University. You are responsible to maintain the standards of Academic Honesty included in the current UTA catalog.
Bomb Threats:
Effective April 8, 1996, the College of business Administration has adopted a policy to deal with the classroom disruption caused by bomb threats in the building. (A) Section 22.07 of the Texas Criminal Law Statutes states that a Class A misdemeanor is punishable by (1) a fine not to exceed $4,000, (2) a jail term of not more than one year, OR (3) both such a fine and confinement. (B) If anyone is tempted to call in a bomb threat, be aware that UTA has the technology to trace phone calls. (C) Every effort will be made to avoid cancellation of presentation/tests caused by bomb threats to the Business Building. Unannounced alternate sites will be available for these classes. If a student who has a class with a scheduled test or presentation arrives and the building has been closed due to a bomb threat, the student should immediately check for the alternate site notice which will be posted on/near the main doors on the south side of the Business Building. If the bomb threat is received while class is in session, your instructor will ask you to leave the building and reconvene at another location. (D) Students who provide information leading to the successful prosecution of anyone making a bomb threat will receive one semester’s free parking in the Maverick Garage across from the Business Building. UTA’s Crime stoppers will provide a reward to anyone providing information leading to an arrest. To make an anonymous report, call (817) 272-5245.
Withdrawing:
It is the student’s responsibility to complete the course or withdraw form the course in accordance with University regulations. Students are strongly encouraged to verify their grade status before dropping a course after the first withdrawal date. A student who drops a course after the first withdrawal date may receive an “F” in the course if the student is failing at the time the course is dropped.
Drop for Non-payment:
It is the policy of the University of Texas at Arlington that students who have not paid by the census date and are dropped for non-payment cannot, under any circumstances, receive a grade for the course. Therefore, a student dropped for non-payment whom continues to attend the course will not receive a grade for that course. Emergency loans are available to help students pay tuition and fees. Students can apply for emergency loans by going to the Emergency Tuition Loan Distribution Center at E.H. Hereford University Center (near the southwest entrance.).
Student Evaluation of Teaching:
The following appears in Administrative Memorandum No. 98-5 dated August 21, 1997, from the President for academic and administrative offices. “ Beginning in Fall 1997, teaching evaluations will be conducted in every class every semester for every instructor of record”.
Important Dates:
| Fall Semester 2002 | |
| June 3 | Current & former student Registration begins for Fall 2002 |
| » June 27 – August 25 | Fall Semester Registration for all students |
| August 26 | First Day of Classes |
| August 26 – 30 | Late Registration |
| September 2 | Labor Day (Holiday) |
| September 11 | Census Date |
| October 4 | End of First Drop Period for Undergraduates |
| October 18 | Mid-semester |
| October 25 | Mid-semester grades due |
| November 4 | Current & Former student Registration begins for Winter Session & Spring 2003 Semester |
| November 15 | Last date to Drop a Course |
| November 28 – December 1 | Thanksgiving Holidays |
| November 28 | Registration begins for Winter Session & Spring 2003 |
| December 6 | Last day of classes |
| December 7, 9 – 13 | Final Exams |
| December 13 – 15 | Commencement Ceremonies |
| December 17 | Grades Due |
Tentative Schedule:
This is a tentative schedule and adjustments will be necessary during the semester. It is your responsibility to be aware of any changes announced in class.
| Subject | Chapter |
|---|---|
| Introduction to Real Estate Decision Making | 1 |
| Real Estate Finance and Investment Analysis Residential and Commercial Property Financing Risk, Return, and the Time Value of Money Mortgage Mechanics Analyzing Income-Producing Properties (time permitting) | 13 14 15 16 |
| Real Estate Legal Analysis Property Rights and Legal Descriptions Private Restrictions to Ownership Public Restrictions on Ownership Deeds and Leases Contracts in Real Estate Transactions Title Examination and the Closing Process | 2 3 4 5 6 7 |
| Real Estate Market Analysis Understanding Real Estate Markets Urban and Regional Economics | 8 9 |
| Real Estate Service Industries Real Estate Brokerage Real Estate Appraisal Property Management (time permitting) | 10 11 12 |
| Special Topics and Guest Speakers: (time permitting) Principles of Real Estate Property Insurance Guest Speaker: Mr. Jeremy Normand “Property Insurance” Wednesday, October 16th Home Purchase Decisions Residential Home Construction Guest Speaker: Dr. Paul Kennedy “International Real Estate” Monday, November 4th | 19 20 Video |
| Exam Schedule: | TVM Tutorial Due Dates: |
|---|---|
| Quiz 1: Monday, September 23rd | Friday, November 1st |
| Quiz 2: Friday, October 18th | (1 Bonus Point) |
| Quiz 3: Wednesday, November 6th | All tutorials due by Dec. 6th |
| Final Exam: Wednesday, December 11th, 8-10:30 a.m. | (0 Bonus Point) |
MANDATORY FINAL EXAM:
Your final exam score may replace your single lowest quiz score. (To protect your privacy, exam scores and final grades will not be posted, e-mailed, or released over the phone. You may submit a self-addressed stamped envelope after the final if you would like your grade mailed.)