This course is the first in a series of (4) courses designed to meet the education requirements of the Maryland Real Estate Appraisers Commission for the Licensed Real Estate Appraiser classification. Topics to be covered include real property concepts and characteristics, legal considerations, influences on real estate values, types of value, economic principles, real estate markets and analysis, the valuation process, property description, and an overview of the approaches to value. Course Objectives:define real property, real estate, and personal property; identify forms of ownership of real estate and restrictions on the use of real estate; identify influences on the value of real estate and types of value; identify the characteristics of real estate markets; and explain the basic approaches to value (sales comparison, cost, and income capitalization).
