Home Current Courses REAE 5334 Real Estate Appraisal Fall 2008

REAE 5334 Real Estate Appraisal Fall 2008

Announcements:

  • I will posting your quiz and exam scores on WebCT. Please do not contact me using the WebCT e-mail function. I only use WebCT to post your scores. If you need to contact me, please use reae5334@gmail.com.
  • Appraisal Crossword Puzzle Don’t laugh, it will help with some of the valuation terminology. I made it myself many, many years ago in Lotus 1-2-3. I will post the solution later.

Relevant Websites:

Cross Creek Center – Subject Property for Project Option: http://www.strat-eq.com/Cross_Creek_Investor_Page.htm

Texas Appraiser Licensing and Certification Board: http://www.talcb.state.tx.us/AgencyInfo/default.asp

The Appraisal Foundation: www.appraisalfoundation.org

Appraisal Institute: www.appraisalinstitute.org

ArcGIS website (ESRI): http://www.esri.com/ (free trial version)

MapInfo website: http://extranet.mapinfo.com/products/products_index.cfm?productcategoryid=1

MapPoint website: http://www.microsoft.com/mappoint

Maptitude GIS software website: http://www.caliper.com/maptovu.htm

Argus website: www.realm.com

Data Sources:

Review Materials (please review this if you are not up to speed with time-value-of-money calculations):

Review Materials for Real Estate Investment Analysis

Time Value of Money Problem Set Answers

(Any questions? E-mail the Problem Set number and question number and we will review in-class.)

Problem Set 1:

  1. 24,464.43
  2. 25,093.31
  3. 1,738.91
  4. 4,755.19
  5. 675,764.89
  6. 14,381.74

Problem Set 2:

  1. 10% compounded semi-annually (1.05^2 = 1.1025; 1.0238^4 = 1.0984)
  2. 19,236.15
  3. 98,111.31
  4. 5,575.46
  5. 22,601.66
  6. 15.94%
  7. 6,357.56

Problem Set 3:

  1. ANN: 15 – 25,288.30 25-20,519.45  MO: 15-2,067.95 30-1614.72
  2. 14,043.41
  3. Yes, NPV = 10,850.30
  4. 13.22%
  5. PMT = 103,873.36
    1. Balance end of year 5 equals 961,283.21
    2. Balance end of year 15 equals 801,472.49
  6. PV = 854,972.16
  7. 79,612.63 + 220,436.31 = 300,048.94
  8. PMT = 638.58 (724.26 – 638.58 = 85.68)
  9. IRR = 16.2%; NPV = 1,306.20
  10. 68,640.81

Problem Set 4:

  1. a) 19,876.60                b) 1,903,479.15
  2. 48,076.30 + 159,263.83 = 207,340.13
  3. Investment 1 IRR = 9.57%       Investment 2 IRR = 10.18% or 9.94% assuming annual compounding
  4. N=60, I = 12%, Pmt = 657.56, FV= 88,000 then 657.56 (pmt) + 120.00 (taxes, insurance, maintenance) = $777.56 rent
  5. $1,365.86
  6. 8.5%
  7. 12.14%
  8. NPV = $209.94                       IRR = 12.27%
  9. a) 10.36%        b) 4,378.29
  10. 163,028.46
  11. 1,294.88
  12. 137,243.36

General Knowledge Exam Answers

1. B 21. D 41. A 61. B81. A
2. B 22. D 42. B 62. B82. D
3. E 23. A 43. D 63. A83. A
4. E 24. D 44. B 64. C84. A
5. B 25. E 45. D 65. B85. D
6. D 26. C 46. B66. A86. B
7. C 27. D 47. D67. A87. B
8. D 28. C 48. B68. D88. D
9. C 29. A 49. C69. C89. A
10. C 30. D 50. D70. C90. D
11. B 31. A 51. A71. C91. A
12. B 32. A 52. A72. E92. B
13. A 33. A 53. C73. D93. C
14. C 34. D 54. B74. D94. C
15. E 35. B 55. A75. C95. D
16. D 36. C 56. E76. B96. C
17. D 37. D 57. B77. E97. E
18. A 38. C 58. C78. A98. D
19. E 39. A 59. D79. C99. B
20. A 40. A 60. B80. E100. D

Spreadsheets:

Investment Problem

Investment Problem Template

Investment Problem Spreadsheet Example

Amortization Table Example

REAE 4334/5334 Seminar in Real Estate Appraisal Fall 2017

Announcements

  • Internships: There are a couple new Internship/Job postings in the Internship/Job Notebook located in room 434 (available during normal business hours M-F 9 AM to 4:30 PM). A local (two blocks from campus) appraiser is looking for another UTA intern. If interested, please visit www.skunkel.com for contact information.
  • Final Letter Grades and final exam grades have been posted to WebCT. The averages on the final exams were 80% and 75% for REAE 5334 and REAE 4334, respectively. I will be posting some final projects on the “project page” section soon. Have a good break!
  • Final Exam: Saturday, December 8th during the normal class time. The final is cumulative but emphasis will be placed on the material covered since the midterm exam (Sales Comparison Approach and Income Approach). Main topics include the Cost Approach, Sales Comparison Approach, Income Approach and also Reconciliation and reporting. The format of the final will be multiple choice (50 questions), short answer/essay, and problems. The exam is fairly evenly divided (in terms of points) between multiple choice and short answer/essay/problems. Please bring a Scan-tron answer sheet, pencils, financial calculator, and photo ID.
  • Dprofiler Reminder: Please remember, Dprofiler is only installed on four computers in Labs 5/7 (third floor business building). The lab attendant has a copy of the Dprofiler user manual that you can sign out (the lab attendants have a sign out sheet) for lab use only. Also, the computer file for the Cross Creek retail property should be one the desktop of each of the four Dprofiler computers. If you do use this file, please change the file name and save it separately so you don’t change the template file.
  • December 1st Class: We will cover chapters 23, 24, 25, and 26 (we will eliminate chapter 27 from the schedule and it will not be on the final exam). Please view the audio/video clip for chapter 23 (see “class notes” link above) and read these chapters before class. The optional final project is due December 8th (absolute deadline) but I will accept any submission on December 1st (see the “project page” link for submission instructions).
  • Little good news, I will drop your lowest 2 quiz grades.
  • No Class on Saturday December 24th (Thanksgiving Break). Have a good break!
  • Audio/Video Clips for Chapters 20, 21, and 22 have been posted. These video/audio clips are .wmv files. To download the files at https://websites.uta.edu/hanszja/current-courses/reae-5334-real-estate-appraisal-fall-2008/notes/ , please scroll down to the Chapter materials then right click on the link and save the files on your desktop. You cannot just click on these links and open. You may play (view and hear) the lectures using Microsoft Windows Media Player or any other software used play .wmv files. I will be posting more audio/video clips to view before class on November 17th. We are trying to cover the Income Approach material before we us Argus on November 17th.
  • November 3rd Class: We will cover the remaining material on the Sales Comparison Approach and Doug Maiden will visit the class. Doug, an architect by training, is a manager for Beck Technologies (Dallas office). He will do a demonstration of the new technology called Dprofiler using our small retail building as the primary example.
  • November 10th Class: We will have class (topic will be the Income Approach) on campus from 8 AM and finish around 10 AM. After class, we will leave for the Southlake Field Trip. We need to meet at the Southlake Court House steps (1400 Main Street, Southlake, TX) at 11 AM sharp. I will bring maps and more information to class on November 3rd. Please dress for outside weather but we should look a little professional. You should also have a notebook and pen to take notes. Have your questions ready. Last year, Mr. Stebbins answered many questions and had some great career advice for aspiring real estate investors and developers. Finally, please consider carpooling.
    • Please make sure to thank both Brian Stebbins and Steve Isbell for this wonderful opportunity. This is the second year that we have had this exclusive visit with one of the premier real estate developers and developments in the country. We hope to be invited back next year.
    • Here are some comments and instructions from Steve Isbell regarding the trip:
    • Here’s a link to the development’s website. www.southlaketownsquare.com
    • Southlake is a wonderful development. It is nationally well known and is looked upon as “the way to do things.” Developer Brian Stebbins has given tours to countless city officials from all over the world; many communities look at this development and say “We want that.”
    • There are countless things to do at Southlake Town Square, including many restaurants, shopping, Starbucks and a movie theatre. The first phase, which is where we’ll meet, has a wonderful green space. (Green space in developer lingo is space that doesn’t directly generate any “green,” if you know what I mean!)
    • Please encourage your students to try and enjoy the afternoon after the tour by strolling around on their own, observing the people, studying the pedestrian traffic, and noting general personality of the place. If they can get below the surface on this, I think it’s a great study and learning resource for the “creation of space.”
    • In my opinion, key points that were necessarily in place for this development were: (a) public/private partnerships, (b) non-traditional way of looking at trade areas, (c) a patient developer, and (d) a one in a thousand guy with a one in a thousand location, which equals a one in a million development.
    • Here’s hoping for good weather!!! But in case of inclement weather, please have your students check this link the morning of the tour, www.strat-eq.com/SouthlakeTour.htm for the status and an alternate meeting place, if applicable. (The link is dead now and will be until a day or two before the tour.)
  • October 20, 2007 Mid-term Exam: Please bring pencils, Scan-tron answer sheet, financial calculator, and your photo ID. This multiple choice style midterm exam will cover chapters 1 through 16. 
  • Exam Instructions: Please answer the following questions by selecting the best answer on your Scan-tron answer sheet.  Be very careful of erasure marks. Your mark on the Scan-tron answer sheet is your final answer. I suggest circling all answers in your test booklet and filling in the answer sheet at the end.  Please note: 
    • Keep your quiz booklet closed until the exam is officially started.
    • You will need a basic calculator (no manuals), pencils, and two Scan-tron answer sheets.  Place your photo ID on the desk, photo-side up.  Put all other materials away.
    • Do not share calculators during the exam.
    • Make sure you have all pages.
    • Remove baseball caps and turn-off/put away all pagers/cell phones.
    • Write your full name and ‘REAE x334 Mid-term I Exam’ on the Scan-tron answer sheets.
    • You may mark (write-on) the exam booklets.
    • Do not look around the room or make any noise. If you have a question, raise your hand and I will come to you.
    • Keep your Scan-tron answer sheets and test booklet in front of you. (Don’t let the person behind you look off your papers.)
    • Answer the questions that you know and return to the question you don’t know toward the end. Do not spend too much time on any one question.
    • Please watch your time as we must finish on time for the next class.
    • Concentrate and do your best. Good luck!
  • November 10, 2007 Southlake Field Trip: All appraisal students are invited! I know that there are just a few of you who are not taking the development course, but I just wanted to emphasize that all appraisal students (graduate and undergraduate) are invited on the Southlake Field Trip (this is not exclusive to the development students). You will be outside, but it might look good if you dress casual but professional.
  • I have been posting your quiz scores on WebCT. Please do not contact me using the WebCT e-mail function. I only use WebCT to post your scores. If you need to contact me, please use hansz@uta.edu or call 817 272-5843.
  • Appraisal Crossword Puzzle  Don’t laugh, it will help with some of the valuation terminology. I made it myself many, many years ago in Lotus 1-2-3.  I will post the solution later.

REAE 4334/5334 Seminar in Real Estate Appraisal Fall 2006

Announcements:

  • Narrative Projects Group Presentation Schedule and Student Evaluation Form click here for pdf
  • REAE 5335 Mass Valuation Projects Mean 80% Median 81% Max 100%, Min 66.7%.
  • REAE 4334 Mass Valuation Projects Mean 85%, Median 85%, Max 96.3%, Min 55.6%
  • Mass Valuation Projects Due on December 2nd
  • Final Exam December 9th The final exam will cover mass valuation (regression) Chapters 7 and 8 in Lusht and class handouts and Discounted Cash Flow Analysis, chapters 16 and 17 in Lusht. Also, there will be one or two questions from the material covered by Dr. Mathew Cypher on Saturday, December 2nd. Please bring your calculator, pencils/pens, and student ID.
  • Commercial Narrative Group Presentations (December 9th) Each group will have 20 minutes of presentation time (I would suggest preparing a 15 minute presentation and leave 5 minutes for questions and comments). If you use a PowerPoint type presentation, please load your presentation on the classroom computer at the start of class. You may also use the classroom document camera and whiteboards. I would suggest thinking about a particular section of the appraisal report that your group did particularly well (for example, one of the approaches, the highest and best use analysis, or another section). With just 15 minutes, do not try to cover the entire project in the presentation. (Practice as a group and time yourself—you will find that the time goes very quickly.) If any of the group information below has changed please notify me. All Narrative Commercial Reports are due on December 9th. If you do not turn in your commercial narrative appraisal report, I will assume you are pursuing grading option 1.
  • REAE 5334 Midterm Part II Mean 83.5% Median 83.3%, St. dev. 7.94%, Max 100%, Min 66.7%. As – 8, Bs-11 Cs-8 (one missing – Dmitri Tisnoi)
  • REAE 4334 Midterm Part II Mean 76.4%, Median 77.4%, St. Dev. 15.3%, Max 100%, Min 30.2%. As-8, Bs-8, Cs-6, Ds-8, Fs-3. (one missing – Will Thorne)
  • Nick Barber of Sigma Relocation Group will give a presentation on his start-up business UMoveFree. Nick was a marketing major who graduated from UTA in 2004. He worked for Trammell Crow before beginning UMoveFree as a UTA student. Last year, UMoveFree posted sales of $4.5 million. The presentation will be at 2 PM on Saturday, November 18th in the Business Building (see Dr. Hansz for the room).
  • Mid-term Part 2: Same topics as part 1 but no multiple choice questions (essays, short answer and problems only). Please bring calculator, pencils/pens, and photo ID (no Scan-tron required). Same exam rules apply (see below).
  • Narrative Appraisal Groups, please sign up for your presentation date. We will have presentations on December 2nd and December 9th.
  • Data files for class, November 4th
  • November 4th, we are meeting in the 3rd floor general computer lab (back room) to use SPSS. (Note this is not the same Lab as the GIS/Argus lab but around the corner.) Please read Chapter 8 and the handout reading on Simple and Multiple Linear Regression. Because of the schedule change, we only have one class to cover regression analysis and SPSS. Please be prepared for this class by reading the material before class (multiple times if necessary) and be ready to use SPSS. I recommend using SPSS in the COBA computer lab but if you want to download the trial version or buy a version, now is the time to get this ready. You do not want to miss this class!
  • You may work in teams of two for the Mass Valuation Project (or you can work alone if you prefer). Please find a teammate. If you are doing the Commercial Valuation Narrative project, I would prefer that you team up with someone other than one of your existing teammates.
    • Please come to class with a spreadsheet of about 100 residential sales that you download from http://magellan.uta.edu/sales. I will demonstrate how to use this site before the exam. This will be the data for your Mass Valuation project. This is the data I will use as a class example (do not use this data for your own project) class example file.
    • In the Mass Valuation Data, please focus on the variables: SQFT, YB, POOLONPROP, SOLDDATE, LOTSZ, STORIES, FP, GAR, STYLE, and SALSPRICE (the dependent variable). You could also look at other variables including DOM, SCHL (school districts), FOUNDATION, CRPT, OCCUP, SECSYS, and others.
  • Commercial Narrative Group Presentation  I would like to schedule group presentation times and dates for the narrative appraisal groups. If you had any change in your group status, please let me know so I can allocate presentation time among the groups. Groups of two or less are allowed. Even if a few groups drop out, we still have a relatively large number of groups so your presentation time will likely be around 10 to 20 minutes per group.  I would suggest thinking about a particular section of the appraisal report that your group did particularly well (for example, one of the approaches, the highest and best use analysis, or another section). With just 15 minutes, do not try to cover the entire project in the presentation.  hansz@uta.edu  
  • Dprofiler Construction Cost Estimator  Beck Product Line Manager Doug Maiden will do a presentation and demonstration of Dprofiler construction cost estimator in room 153 on Saturday, October 28th. All undergraduate and graduate real estate students are invited.  Doug will also answer questions and offer a student license at a cost if you would like to pursue Dprofiler further. The presentation will end by 9:30 AM so all students will have plenty of time to make the Southlake visit.
  • Correction on handout… The Dprofiler Presentation is on Saturday, October 28th.  Please excuse one of the handouts as the date is incorrectly stated as Saturday, October 26th.
  • Southlake Field Trip: All appraisal students are invited! I know that there are just a few of you who are not taking the development course, but I just wanted to emphasize that all appraisal students (graduate and undergraduate) are invited on the Southlake Field Trip (this is not exclusive to the development students).  Just contact Steven Isbell to let him know you will attend.   steve@strat-eq.com  Also see the following trip instructions. INSTRUCTIONS (Note, you will be meeting with one of the developers cited in the course text.)
  • Your exams are graded (see below for descriptive statistics).  You may review your exam in class from 8 AM to 10 AM (please be courteous to the presenter) or from 1 PM to 2 PM on Saturday, October 28th. You must review the exams in the classroom (153 Business Building).  When you are finished reviewing your exam, you must return the exam and Scan-tron answer sheets to Luis.  You may not keep this exam.  If you have any questions please send me an e-mail (remember to include the question number) hansz@uta.edu . 
  • REAE 4334: Mid-term Part I Multiple Choice Statistics: mean 76%. median 77%, mode 92%, range 32%, st. dev. 9.55%, A-4, B-10, C-10, D-9.  Good attendance on the exam (two missing – Carlos Gonzalez and Carlos Guerra).
  • REAE 5335: Mid-term Part I Multiple Choice Statistics: mean 80%. median 80%, mode 80%, range 32%, st. dev. 7.35%, A-2, B-14, C-10.  Special thanks for the perfect attendance for the exam.  Keep it up!
  • Just a reminder, the last day to drop a class is Friday, November 3rd.
  • Valuation Panel, Saturday, October 14th!  Bring your questions for our distinguished panelists.
  • IMPORTANT UPDATE!!!  Mid-term Exam Part 1 on October 21st, as originally scheduled.  The Development Field Trip has been moved to October 28th. Good news for us, we can keep the Mid-Term Exam Part I on the regularly scheduled date of Saturday, October 21st. I will make arrangements on October 28th so all of the Development students (grad and undergrad) can make the trip (it sounds very interesting!). Please bring at least 2 Scan-tron answer sheets to the exam. You will also need pencils, a calculator, and photo ID.
  • Mid-term Exam Part 1 Topics:  Everything covered in class plus assigned readings including (not an exhaustive list), operating statement, neighborhood life cycle, comparable adjustment, capitalization, value (what creates value), market efficiency, net lease, band of investment, units of comparison, fixtures, market value, investment value, value in use, area/regional analysis, reporting options (as per USPAP), GRM/GIM, reconciliation, transaction price, adjustments, URAR, effective age, vacancy rate, depreciation, metes and bounds/rectangular survey system other survey systems, cost approach, sales comparison approach, income approach, appraisal process (all parts), Appraisal Foundation, Appraisal Institute, land value estimation (all techniques discusses), highest and best use, limiting conditions, property rights, etc.. 
  • Exam Instructions: Please answer the following questions by selecting the best answer on your Scan-tron answer sheet. Be very careful of erasure marks. Your mark on the Scan-tron answer sheet is your final answer. I suggest circling all answers in your test booklet and filling in the answer sheet at the end. Please note: 
    • Keep your quiz booklet closed until the exam is officially started.
    • You will need a basic calculator (no manuals), pencils, and two Scan-tron answer sheets.  Place your photo ID on the desk, photo-side up.  Put all other materials away.
    • Do not share calculators during the exam.
    • Make sure you have all pages.
    • Remove baseball caps and turn-off/put away all pagers/cell phones.
    • Write your full name and ‘REAE x334 Mid-term I Exam’ on the Scan-tron answer sheets.
    • You may mark (write-on) the exam booklets.
    • Do not look around the room or make any noise. If you have a question, raise your hand and I will come to you.
    • Keep your Scan-tron answer sheets and test booklet in front of you. (Don’t let the person behind you look off your papers.)
    • Answer the questions that you know and return to the question you don’t know toward the end. Do not spend too much time on any one question.
    • Please watch your time as we must finish on time for the next class.
    • Concentrate and do your best. Good luck!
  • Appraisal Crossword Puzzle  Don’t laugh, it will help with some of the valuation terminology. I made it myself many, many years ago in Lotus 1-2-3. I will post the solution later.
  • Coach-less Teams:  I have an notice running in the North Texas Chapter of the Appraisal Institute Newsletter asking for volunteer Coaches.  I hope this will result in one Coach per team.  Hold tight as we have a few more valuation teams than I anticipated this year.  The Newsletter also has two interesting job opportunities.  Check it out at http://www.ainorthtexas.org/store/newsletters/2006-September-Newsletter.pdf.
  • Visit with George Roddy October 2nd at 6:00 PM  George Roddy is definitely the person to see about DFW real estate data.  George is the founder of the Roddy Report (www.roddyreport.com) and he has agree to help us with some raw data for the appraisal projects.  Please sign-up with me if you can make the visit to his Dallas office in October.  His office address is 4851 Keller Springs Rd #219, Addison, TX  75001  (972) 248-9186 (Jennifer Mollenshott, Wil Morgan, Bronwyn Justice, Tonia Rachel, Juan Carlos Cruz, Darshak Shah, Kim Comiskey, Sanjeev Lad)
  • Please read Chapter 9 Special Considerations When Valuing Land and Sites for Saturday, September 30th.  I apologize as I inadvertently left Chapter 9 off the syllabus.  It is less than 10 pages but it is important.
  • Narrative commercial report teams.  Don’t forget to send me at least one website and raw date from each valuation team.  I will post the information under your team so all teams can share some data.  When you send the website, please give me a short description of why you found the site useful (for example, “cost data,” or “demographic data”).  It would be nice to share raw data (not analysis or original writing) between groups.  Also, the students not doing the project should be interested in this information too.  Also remember, each group will make a presentation at the end of the semester.  I will ask for feedback from the entire class on each presentation.
  • The narrative commercial reports much be your original work.  Very few sections of the appraisal report are boilerplate (just the Certification and maybe the Limiting Conditions).  Please do not copy or plagiarize.  Also remember, I will be posting your final reports on the web so your Coaches can see your final product.
  • Coach Rules:  You can meet with your assigned appraisal Coach once (probably a 45-minute to an hour meeting) at the Coach’s convenience (both time and place).  The initial meeting is an opportunity to make an industry contact, ask questions about the appraisal business, and ask specific questions/advice about your valuation projects.  After the initial meeting, you may contact your Coach once or twice (no more than twice) with follow-up questions.  Before contacting your Coach, you should speak with your teammates about meeting times.  Also, you should have at least two people present at the meeting.  I will be recruiting more Coaches over the next couple weeks.  You don’t need a Coach to get started.  In fact, the more you have done before the meeting, the more the Coach can help you. 
  • Special Thanks to Joe Milkes for helping up so much with the property inspection.  I forget who made the comment, but I agree with the student who said, “that guy really knows his stuff.”  Also, special thanks for all of you that made the inspection: Tabitha Starkey, Derrick McGregor, Susan Tobin, Arun Narayanasamy, Dimitri Tisnoi, Wil Morgan, Chris Williamson, Jennifer Mollenshott, Sanjeev Lad, Juan Carlos Cruz, and Brian Fuller.  You guys were great too.  I hope every team wanting to do the Brookhollow property had at least one member present for the inspection.
  • Property Inspection Remember, sections of the appraisal report include a neighborhood/district analysis and building description.  The information you collect on your property inspection will be important in completing these sections.
  • Subject Property Inspection  We have an opportunity to inspect the property located at 8901 Directors Row, Dallas TX Brookhollow Industrial Park.  The inspection is scheduled for 3:30 PM on Wednesday, September 20, 2006.  Please arrive promptly at 3:30 PM (the tenant locks up at 4:30 PM). (1) VERY IMPORTANT: Do not go on the property until I arrive.  Joe Milkes, MAI will escort us onto the property.  If you do arrive early, you can drive around the industrial park or wait in your car.  Also, this is a great opportunity to meet with Joe Milkes, especially if he is your project Coach.  (2) When you go on an inspection you should bring a pad of paper and/or clip board, pens, and camera (do not take interior photos unless the tenant grants us permission during the inspections).  Also, think about the information you will need and develop a check list of things to look for and questions. (3) You should also look at the comparable sales data.  This is also a good opportunity to drive-by some recent sales to check them out first hand.  If you plan ahead, this might be the only trip you have to make to the Brookhollow Industrial Park. (4) Car pool, car pool, car pool.  I hope to see people arrive together in groups of 2 to 4!  (5) If leaving from UTA, I would recommend leaving by 2:30 PM if not earlier.  (6) See links to maps…
  • Special Event (You are invited):
    A recent marketing majors is racking up successes in the business world by applying what he learned here at UTA. Nick’s business model is so fresh that it appears that he has uncovered some substantive research issues for scholars.  Come and join in the learning.

    This Thursday at 8:00 AM in Room 610 Nick Barber of Sigma Relocation Group will give a presentation on his start-up business UMoveFree. Nick was a marketing major who graduated from UTA in 2004. He worked for Trammell Crow before beginning UMoveFree as a UTA student. Last year, UMoveFree posted sales of $4.5 million.

    UMoveFree Apartment Locators is a moving and relocation company offering a searchable database of Dallas apartments, Fort Worth apartments, Austin apartments and Houston apartments, so we do not have pages of fine print outlining ways we can avoid doing what we advertise. Instead, simply meet the qualifications below and U Move Free … Period
  • Subject Property  We have a subject property for the narrative projects.  8901 Directors Row, Dallas located in the Brookhollow Industrial Park. You can start to research this property on the Dallas Appraisal District website www.dcad.org (select search by address). I will be posting some additional information soon.
  • Narrative Commercial Project  If you are choosing to do the narrative appraisal report, please send me an e-mail with your team members (groups of 3 please). Also, please indicate if you have a subject property preference. hansz@uta.edu
  • REAE 4334: On Saturday, September 16th please go to the computer lab 345 at 8 AM for a session on Geographic Information Systems (GIS) with Josh Been.  You do not need to prepare in advance but be awake, as Josh will move quickly.  After the GIS session, please return to the classroom for a 50 minute video on Shopping Center Valuation by the Appraisal Institute. Time permitting, there will be a second video (20 minutes) covering Appraisal Review.  
  • REAE 5334: On Saturday, September 16th please go to the computer lab 345 at 11 AM for a session on Geographic Information Systems (GIS) with Josh Been. You do not need to prepare in advance but be ready, as Josh will move quickly. After the GIS session, please return to the classroom for a 50 minute video on Shopping Center Valuation by the Appraisal Institute. Time permitting, there will be a second video (20 minutes) covering Appraisal Review.

4334 Groups:

A.    Apartments: Ashley Ullman (noahsmatrix@hotmail.com), Brett Herbert, and Manuel Niebles
            Coach: Jack Poe, MAI jpoe@poeco.net
            Presentation Date 12/9

B.    Retail: Carlos Gonzalez (carlos.gonzalez@accenture.com), Duhsten Freeman, Sharif Haider, Justin Sims
            Coach: Jack Poe, MAI jpoe@poeco.net
            Presentation Date 12/9

E.    Great Southwest: Chris Werley (zardoz2004@sbcglobal.net), James Witt, Peter Sikes, Justin Ward (4 ok if no other group doing GSW)
            Coach: Steven Kunkel, MAI skunkel@swbell.net
            Presentation Date 12/9

F.    Brookhollow Industrial Property: Ofelia Garcia (ofeygarcia@aol.com), Tu Le, Leonard Garcia
            Coach: Jay Redford jredford@irr.com
            Final Report (pdf or Word): BrookhollowUndergrad
            Presentation Date 12/9

G.    Apartment Property: Will Thorne (wthorne@oneprimelp.com), Brock Johnston, Fred Hassouni
            Coach: Jeff Rogers, MAI Key Bank

5335 Groups:

1.    Apartments: Kim Comiskey (kim.comiskey@hillwood.com), Ned Washburn, and Darshak Shah
            Coach: Glenn Garoon, MAI ggaroon@sbcglobal.net / Daniel Comiskey
            Final Report (pdf): Riverbend Apartments
            Presentation Date 12/9

2.    Brookhollow Industrial Property: Jennifer Mollenshott (jennifer.mollenshott@gsa.gov), Duane Huynh, Wil Morgan
            Coach: Anonymous volunteer 
            Website Resources: www.census.gov      www.nctcog.org     www.dallaschamber.org     www.bls.gov  (demographic sites)
            Raw Data: Tax Data
            Final Report (pdf): Brookhollow
            Presentation Date 12/9

3.    Trophy Club: Ravi (mehtarp1@yahoo.com), Sanjeev
            Final Report (pdf or Word): Too many files to post!
            Presentation Date 12/9

4.    Brookhollow Industrial Property: Dmitri Tisnoi (dtisnoi@yahoo.com), JaeKab Kim, Browyn Justice
            Coach: Joe Milkes, MAI joe@milkes.com
            Final Report (pdf): Brookhollow2
            Presentation Date 12/9

Mass Valuation Project Resources

Using Regression in Excel

Step 1: Load the Data Analysis Tool.  Go to Tools then Add In and check the Analysis TookPak box.  Click OK.

Step 2: Go back to Tools and at the bottom of the menu should be Data Analysis….  Click Data Analysis and scroll down to Regression. Also, note there are several other useful functions such as frequencies, descriptive statistics, and ANOVA.

Step 3: Once in the regression menu it is pretty self explanatory (if not, don’t forget the Excel help functions). Basically, you just paint in the Y and X variables and indicated where and what you want your output to contain.