CCOG for RE 116 archive revision 201604
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- Effective Term:
- Fall 2016
- Course Number:
- RE 116
- Course Title:
- Real Estate Finance
- Credit Hours:
- 3
- Lecture Hours:
- 30
- Lecture/Lab Hours:
- 0
- Lab Hours:
- 0
Course Description
Methods for financing the acquisition and transfer of real property. Emphasizes the mortgage market, lending instruments, foreclosures and remedies, governmental loan programs, private loan programs, loan applications, appraisals and closings. This is one of seven required courses offered at PCC that satisfies the Oregon Real Estate Broker pre-licensing requirements. Audit available.
Addendum to Course Description
This course serves two primary audiences. The largest audience includes students seeking to satisfy State of Oregon Real Estate Agency salesperson requirements for licensing and the smaller, but also important audience includes students wishing to generally expand their knowledge about real estate finance. To satisfy the licensing education requirements students must pass (75% score or better) a comprehensive multiple choice final examination.
Intended Outcomes for the course
- Appreciate the general economic considerations surrounding real estate lending.
- Understand the legal and practical aspects of conventional real estate loan documents
- And be able relate to real life real estate transactions.
- Recognizes when and how federal and state laws (such as Truth-in-lending) apply to real life real estate transactions.
- Understand the fundamental real estate appraisal principles and be able to apply to simple value problems.
- Be aware of the traditional government loan programs; identifying situations where each program may be appropriate.
Outcome Assessment Strategies
Students will be assessed by any combination of the following:
- Active participation in class
- Contextual written tasks (in or outside of class) to assess reading
- Oral responses to in class hypotheticals
- Request for real life applications of course material
- In class, interactive student role-plays
- Quizzes and practice exams following State of Oregon Real Estate Agency question format
- Final comprehensive examination patterned after Oregon Real Estate Agency license exam
Course Content (Themes, Concepts, Issues and Skills)
Include all or most of the following:
- Finance instruments (promissory note, mortgage, trust deed, land sale contract)
- Remedies upon default (foreclosure)
- Finance math (percentages, interest rate, depreciation, proration)
- Mortgage markets (primary and secondary)
- Federal monetary & fiscal policy
- Conventional loans
- Government loan programs
- Federal lending laws (Truth-in-lending, Equal Credit Opportunity, Real Estate Settlement and Procedures)
- Real estate appraisal
- Federal income taxation of real estate