FIN 6321 Section 001

Course
Introduction to Real Estate
Professor George DeCourcy
Term Spring 2011
Meetings Monday 4:00-6:45 p.m. in SOM 2.102

Professor’s Contact Information

Office Phone 972-883-5810
Office Location SOM 2.410
Email Address george@utdallas.edu
Office Hours By appointment
Other
Please email me at UTD email address – not via eLearning
Information

General Course Information

Pre-requisites FIN 6301
This course is an introduction to real estate. It provides a survey of
Course
various aspects of the real estate business including marketing
Description
finance development, law and appraisal.
At the end of the course, students will be able to:
Identify the legal rights associated with property ownership
Legally describe real property rights
Differentiate between residential and commercial financing
Learning
Calculate mortgage payments
Outcomes
Value real property rights
Understand the different types of mortgage instruments
Value income-producing property relative to inherent risk
Create an Excel proforma to evaluate a project
Real Estate Principles, A Value Approach, 3rd Edition,
© 2010, by David C. Ling and Wayne R. Archer.
Required Text
Hardcover. McGraw Hill.
ISBN-13 9780073377322
http://highered.mcgraw-hill.com/sites/0073377325
Text Resources
Click on Student Edition
Calculators/ Recommended: TI BA II Plus or HP 12C
Computers There is a short project requiring you to use Excel Spreadsheets
Though the class dates are set, the material covered in each session
Class Schedule /
remains fluid and will be updated throughout the semester. Students
Academic
should continually check eLearning for updates to the Schedule
Calendar
shown below.
 FIN 6321 - SCHEDULE OF CLASSES

Version 1.0 (subject to change – please check for updates)

Reading Comment
Date Topic Assignment
1 1/10 Introduction Chapter 1
Legal Foundations Chapter 2
1/17 No class Martin Luther King Day
2 1/24 Conveying Real Property Chapter 3
Interests
Gov’t Controls & Markets Chapter 4
3 1/31 Market Value & Research Chapter 5 & 6 Report Topic Due
Brokerage Chapter 12
4 2/7 Review
Exam 1
5 2/14 Appraisal: Sales Comparisons & Chapter 7 Assign Excel project
Cost
Time Value of Money (overview) Chapter 14
6 2/21 Appraisal: Income Approach Chapter 8 Excel 1 Due
Income Approach Chapter 8
7 2/28 Contracts Chapter 9 Report Outline Due
Mortgage Types Chapter 10
8 3/7 Sources of Funds Chapter 11
Sales Contracts & Closing Chapter 13
3/14 No class Spring Break
9 3/21 Review
Exam 2
10 3/28 Mortgage Calculations Chapter 15
Commercial Mortgage Types Chapter 16
11 4/3 Sources of Debt/Equity Chapter 17
Ratios & NPV Chaps. 18,19 Assign Excel 2 project
12 4/11 NPV (continued) Chapter 19 Excel 2 due
Real Estate Taxation Chapter 20
13 4/18 Property Management & Leases Chapter 21, 22 Reports Due
Leases (continued) Chapter 22
14 4/25 Development Chapter 23
Catch up and Review
15 5/2 Exam 3
Course Policies
The course will be graded as follows:

Exams 1,2,3* 60%

Independent report: 20%
Course Grade Excel Spreadsheet Project (2 parts) 10%
Participation/attendance: 10%

* lowest of three exam grades will carry ½ weighting (thus 24/24/12)

Course grades are based on standard university scale: A, A-, B+, B, B-, C+, C
and F. There is no A+ or C-. Corresponding grade ranges and grade points are
shown below.

A: 93-100% 4.00
A-: 90-92% 3.67
Grading B+: 87-89% 3.33
B: 83-86% 3.00
B-: 80-82% 2.67
C+: 77-79% 2.33
C: 70-76% 2.00
F: Below 70% 0.00

Class Students should read assigned chapter material prior to the class session and
Procedure are expected to participate in class.
Students are to select one area of the course that they consider of personal
interest and write a short paper about that topic and to include reference
material beyond the text itself. This self-study and report will allow the
student to expand their knowledge base in an area of real estate beyond that of
a fundamentals course. Recommended length is 10 to 15 pages, double
spaced, plus exhibits if any.
Independent
Report As an alternative, students may select a local company active in the real estate
Assignment marketplace and do a report on the company which would include the nature
of their services and some detail of their operations. A paper of this nature
would most likely include interviews with one or more of the key local
individuals working with that company. This paper would likely be slightly
shorter than the Independent report above. A student cannot do this report on
a company if the student is or has been employed by that company.
Students will be required to build a simple spreadsheet projection for a real
estate project. The instructor will provide further details in class with input
assumptions. Students will prepare a simple model with proper formatting
Excel Project showing whole dollar amounts. Each student will be required to email their
spreadsheet to the instructor using a filename of:
CentrePoint1_studentname.xlsx.
No make-ups allowed unless pre-arranged with Instructor.
EXAMS Laptops are NOT allowed during exams. Financial calculators are required.
UTD Policies

Policies and Procedures for Students

The University of Texas at Dallas provides a number of policies and procedures designed to provide
students with a safe and supportive learning environment. Brief summaries of the policies and procedures
are provided for you at http://provost.utdallas.edu/home/syllabus-policies
and include information about technical support, field trip policies, off-campus activities, student conduct
and discipline, academic integrity, copyright infringement, email use, withdrawal from class, student
grievance procedures, incomplete grades, access to Disability Services, and religious holy days. You may
also seek further information at these websites:
http://www.utdallas.edu/BusinessAffairs/Travel_Risk_Activities.htm
http://www.utdallas.edu/judicialaffairs/UTDJudicialAffairs-HOPV.html
http://www.utsystem.edu/ogc/intellectualproperty/copypol2.htm
http://www.utdallas.edu/disability/documentation/index.html