Real Estate

Real estate is the study of investments in real estate properties (residential and commercial properties). This is a relatively small field of finance that attracts few students. However, the prospects for a successful career are very good.

Students specializing in real estate finance must take courses that introduce real estate valuation techniques as well as the legal and regulatory environment of real estate markets. The typical entry point is that of an analyst in a real estate investment firm (there are known as Real Estate Investment Trusts (REIT)). Job seekers in this area must have strong knowledge of valuation, legal and tax issues, and exhibit very good writing and communication skills.

Suggested Courses:

• Finance 443: Legal Issues in Real Estate

  Presents an overview of legal concepts, issues, and principles involving real estate.

• Finance 444: Urban Real Estate Valuation

  The terminology, theory and techniques of real estate valuation (appraisal); a modern view of the three approaches to estimating value – sales comparison, cost, and income; special requirements include local field trips to appraise at least one single-family property and one income property.

• Finance 445: Real Estate Investment

  An approach to the evaluation of real estate investment opportunities; begins with the identification of the investor’s goals and ends with an investment decision; legal, physical, locational, and financial constraint, aggregate real estate and financial markets, tax considerations, and investment criteria.

• Finance 446: Real Estate Markets

  Discusses real estate financing techniques and the secondary market for real estate financial assets including mortgage-backed securities and mortgage-backed finance.

• Finance 541: Real Estate Economics

  Discusses the theory and practice of real estate and urban land economics; emphasizes real estate market analysis, finance, appraisal, and investment.