CLARION UNIVERSITY OF PENNSYLVANIA
DEPARTMENT OF FINANCE
COURSE TITLE: RE 471: REAL ESTATE INVESTMENT ANALYSIS Spring 2005
NUMBER OF CREDITS: 3
MEETING PLACE AND TIME: Section 01: MW 3:30 – 4:45, 202 Still
PROFESSOR NAME: Dr. Jerry Belloit
OFFICE NUMBER: 336 Still
TELEPHONE NUMBER: 393-2626
E-MAIL ADDRESS: firstname.lastname@example.org
OFFICE HOURS: 9:00-10:45 MW, 9:30-11:00 T and by appointment. I am in the office much more frequently than these hours. However, because I have offices on both campuses, I may be on the other campus on my MW hours. If I am not in my office during the posted hours, the secretary will know where I am and can place a call to me if I am on the other campus.
This course provides the background necessary to evaluate alternative income-producing real estate investments. Real estate as an investment media will be analyzed in terms of financial and non-financial considerations. The rate of return and inflation-hedge characteristics of real estate investing will be considered in light of risk, illiquidity, and federal income tax consequences. Prerequisite: RE 271 or instructor's permission.
CORE COMPETENECIES ADDRESSED:
REQUIRED TEXT AND MATERIALS: Real Estate Investment, Phyrr, Cooper, et. al. CALCULATOR: A financial calculator is also required for this course. The Hewlett-Packard 10B is strongly recommended. (Students should avoid a TI BAII or Radio Shack equivalent.) Students not choosing the HP10B will be responsible for learning the operation of their calculator on their own.
COURSE PREREQUISITES: Prerequisite or co-requisite: RE 271
CLASS ACTIVITIES AND REQUIREMENTS: Learning activities include class lectures, reading comprehension quizzes, skill quizzes, case problems, and a demonstration investment analysis requirement. Please read the assigned chapter (except for day 1) before coming to class. My lectures will assume you have read the material, and are familiar at least with terminology; this will eliminate obvious questions that are answered in the book, and allow us to learn the concepts. Read the book first. Investment analysis submission must be in Microsoft Word and submitted into the Blackboard’s Digital Drop box. Students must clearly name the file with their name and clearly identify the particular component. All drawings and photographs must be scanned and pasted into the Word document at the appropriate places. Blackboard has a 8 meg size limit on papers. If your project exceeds 8 meg, see me about how to compress your graphic images.
All homework and exams will be submitted on the http://blackboard.clarion.edu site.
a. You must login using your CNet username. (Use lower case letters for both the username and password.) If you don't know it, click on the link to "Need Help Using Blackboard?" at the login page (http://blackboard.clarion.edu) for more information or check the People Finder link on the Clarion home page. Everything to the left of the @ sign on your email address is your CNet username.
GRADE COMPONENTS AND CRITERIA:
All exams will be cumulative. No make up-exams will be given. For all exams you will be permitted to use one 8.5 X 11 paper with any notations that you wish such as class notes, prayers, inspirational messages, etc. Any personal schedule conflicts with the exams must be identified and reported to me by September 8 to see if there might be a way to resolve the conflict.
GRADING RUBRIC: The objective exams and homework assignments are graded by the percentage correct. Each section of the appraisal project is weighted according to the outline on the web site. Each section is graded independently. Grades on the section will be graded as follows: 100% answers will contain no spelling or grammar errors, will use clear, concise, logical, sentences using a professional language style, will cover the topic thoroughly, and evidence critical evaluation of the material. 70% answers will contain few spelling or grammar errors, will cover the major points, 50% answers will contain few spelling or grammar errors but will lack some of the major points, and be written in a non-professional style. If there is not attempt to address the topic, no credit will be given. Assignments and submissions not submitted by 4:00 P.M on the day the assignment is due will be penalized by 5% for each day the assignment or submission is late. 100% grade will be given to those who have no unexcused absences, are in class before the class begins, are fully prepared for every class, make at least one constructive contribution to the class discussion per week. Participation credit can also be earned by making at least one constructive contribution to the class discussion board. The participation grade will be reduced by 20% for each unexcused absence. The participation grade will be reduced by 5% for each week where the student has no contribution to the class discussion.
CLASSROOM SESSIONS SCHEDULING:
ATTENDANCE AND ABSENTEEISM: Class attendance is mandatory and strongly recommended. Missing class unnecessarily will result in one or more letter reductions on your final grade. In addition, if you are taking this course for pre-licensing education, missing class may prevent you from getting credit.
CLASS PARTICIPATION: Students are expected to attend every class, prepare for the lecture, and contribute to the discussion of relevant material.
MAKE-UP EXAM POLICY: Normally no make up-exams will be given. Any personal schedule conflicts with the exams must be identified and reported to me by January 19 to see if there might be a way to resolve the conflict. In the event of schedule conflicts after January 19, you must notify the instructor as soon as possible. The instructor will try to schedule the exam at an earlier date. If no attempt is made to contact the instructor prior to a scheduled exam, the student ordinarily will receive no credit for the exam. If a makeup is necessary due to extraordinary circumstances, the exam will be given on May 6th.
ACADEMIC DISHONESTY: Academic dishonesty will not be tolerated in this class. Cheating on examinations, inappropriate collaboration on projects, and other forms of dishonesty will be dealt with in a serious and formal manner. The minimum penalty for academic dishonesty in this class will be course failure.
SPECIAL SERVICES: If you require special accommodation for taking exams or completing the project, you must notify the instructor by January 19th. A learning contract will be completed accordingly.
Dr. Jerry Belloit with questions or comments about this web site.