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FIN 4610
Real Estate and Urban Economics
Back to course descriptions
This course serves as an introduction to physical,
legal and economic fundamentals of real estate
using an integration of real estate markets, mortgage
financing, appraisal principles and investment analysis.
Finance 4610 is intended as an overview of field of real
estate and is the first in a three-course sequence in
real estate. As an overview, the course will cover
the topics of basic property and contract law, leases,
financing, taxation, and the fields of property
management, finance, appraisal, brokerage, and investment.
Course Objectives
From a professional standpoint, this course should
help students, considering further study and/or a career
in the real estate field; decide whether their aptitudes
and interests lie in that direction. From a personal
standpoint, students should be in a better position to
make decisions regarding real estate, becoming at
least familiar enough with key considerations to know
how to gather information and advice from available
sources and to interpret this information. In this course,
students should develop an understanding of the following topics:
Back to course descriptions
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Topic 1: Legal Aspects of Real Estate
- Real Estate Interests and Forms of Ownership
- Transferring Real Estate Interests
- Government Involvement
Topic 2: Real Estate Appraisal
- Principles of Valuation
- Sales Comparison Approach / Cost Approach / Income
- Capitalization Approach
Topic 3: Real Estate Finance
- Financial System and Real Estate Finance
- Financing Mechanics: The Borrower's Perspective
- Mortgage Underwriting: The Lender's Perspective
- Secondary Mortgage Markets
Topic 4: Real Estate Investment Analysis (includes impact of taxes)
- Principles of Investment
- Discounted Cash-Flow Model
- Real Estate and Modern Portfolio Theory
- Institutional Real Estate Investment
Topic 5: Urban Economics
- Regional and Urban Economics
- Spatial Economics: Rent, Situs, and Succession Theory
- Long-Term Trends in Urban Structure and Land Use
Topic 6: Real Estate Marketing and Brokerage
Topic 7: Property Management
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