Finance 673: Real Property Valuation I

Spring Semester 2008

Instructor:            Dr. Thomas O. Jackson, AICP, MAI, CRE, FRICS

Class Hours:          12:45 to 2:00 p.m. Mondays and Wednesdays in Room 182, Wehner

Office Hours:         By Appointment

Office Phone:         690-1755 (Real Property Analytics, Inc.) or 458-4519 (Mays)                  

Email:                   tomjackson@real-analytics.com or tjackson@mays.tamu.edu

Instructor Background: www.real-analytics.com   

Course Materials:

  1. Syllabus
  2. Calculator Keystroke Review
  3. Math and Analytical Skills Review
  4. Value Concepts and Definitions (PDF) (PPT)
  5. Valuation Process (PDF) (PPT)
  6. Valuation Process Chart
  7. Highest and Best Use Analysis (PDF) (PPT)
  8. Highest and Best Use Problem
  9. Income and Expense Analysis (PDF) (PPT)
  10. Replacement Allowance (PDF) (PPT)
  11. Homework Assignment 1
  12. Homework Assignment 1 Additional Information
  13. Income Capitalization Framework (PDF)
  14. Direct Capitalization I with Practice Problems (PDF)
  15. Direct Capitalization II (PDF) (PPT)
  16. Direct Capitalization Practice Problems Set 2
  17. Homework Assignment 2
  18. Exam 1 Formula Sheet
  19. Answers to Practice Problems Set 2
  20. Exam 1 Review Outline
  21. Homework 2 Solutions
  22. Request for exam grade review
  23. Projecting Cash Flows
  24. Projecting Cash Flows Example Problem (updated)
  25. Homework Assignment 3
  26. Lecture Notes on Yield Capitalization
  27. Lecture Notes on Stabilizing Income
  28. Lecture Notes on DCF using DCR
  29. Homework Assignment 4
  30. Exam 2 Formula Sheet
  31. Yield Capitalization Review Problems
  32. Answers to Yield Capitalization Review Problems
  33. K-factors table
  34. Exam 2 Review Sheet
  35. Final Exam Review Topics
  36. Final Exam Formula Sheet

Income and Expense Data Samples:

  1. BOMA Report on Offices in Bridgeport, CT
  2. IREM Report on Chicago Apartments
  3. IREM Report on Houston Offices
  4. IREM Report on Denver Shopping Centers
  5. ULI Report on Super Regional Shopping Centers

Standards and Ethics:

  1. Uniform Standards of Professional Appraisal Practice (USPAP)
  2. Standards and Ethics for The Counselors of Real Estate
  3. Code of Ethics and Standards of Practice, National Association of Realtors
  4. American Institute of Certified Planners Code of Ethics

Jobs, Data, Software, Professional Organizations:

  1. Appraisal Institute Jobs
  2. Globe Street
  3. Costar Group Commercial Real Estate Information
  4. Marshall & Swift Cost Estimator
  5. Realm - ARGUS Software
  6. ESRI - ArcView and ArcGIS Software
  7. Appraisal Institute
  8. The Counselors of Real Estate
  9. CCIM Institute
  10. American Planning Association
  11. The Appraisal Foundation
  12. Lincoln Institute of Land Policy
  13. American Real Estate Society
  14. Royal Institution of Chartered Surveyors
  15. Real Estate Research Corporation
  16. Korpacz Real Estate Investor Survey
  17. Society of Industrial and Office Realtors
  18. Urban Land Institute

Contaminated Property/Brownfields:

  1. Cherokee Investment Partners - Brownfield Real Estate Acquisitions 
  2. The Landbank Group, Inc. - Brownfield Real Estate Investors
  3. AIG Environmental Insurance
  4. U.S. EPA Brownfields Website
  5. U.S. EPA Region 6 Brownfields Program
  6. Texas Commission on Environmental Quality Voluntary Cleanup Program
  7. Texas Commission on Environmental Quality Brownfields Program
  8. Texas Commission on Environmental Quality Innocent Owner/Operator Program

This page was last updated April 24, 2008