WEEK 1
RES 301 Week 1 Discussion Questions
Week 1 DQ 1: Real estate construction is a volatile process determined by the interaction of the user and capital markets. What signals do real estate producers use to manage this process? What other factors affect the volatility of real estate production?
Week 1 DQ 2: In the United States the bundle of rights called real property seems to have gotten smaller in recent decades. Explain what has caused this. Why is it good? Why is it bad?
WEEK 2
RES 301 Week 2 Discussion Questions
Week 2 DQ 1: The property tax has been criticized as an unfair basis for financing public schools. Areas that have high property values are able to pay better schools than area having lower property values. Thus, there is an inequality of educational opportunities that tends to perpetuate educational and social disadvantages for those who live in low-income areas.
1. Do you agree or disagree?
2. How could school financing be modified to provide more equal funding among all regions of a state?
Week 2 DQ 2: The main argument traditionally advanced in the favor of zoning is that it protects property values. Do you believe this contention? If so, how does zoning protect property values? If you do not believe the contention, why not?
RES 301 Week 2 Assignment - Case Study
Case Study
Read the case study: “Are Housing Bubbles Contagious? A Case Study of Las Vegas and Los Angeles Home Prices” and watch the supplemental videos:
California and the Banks
Markets Hub: Bad Mortgages Weigh on Banks
In a three- to four-page paper (not including the title and reference pages), develop an analysis that includes:
1. A summary of the case including the key players and background information.
2. A description of the scope of real estate bubbles. (Are housing bubbles contagious?)
3. An analysis of the real estate bubble issue and ethical considerations.
4. At least one recommendation on how the real estate industry, homebuyers, and other stakeholders can help in avoiding real estate bubbles. Real estate principles must be used as support.
You are encouraged to incorporate course material and additional readings (i.e., journal articles, books, etc.) into your analysis to strengthen the content of your paper.
Your paper must be formatted according to APA style as outlined in the Ashford Writing Center and include at least two scholarly sources in addition to the textbook.
WEEK 3
RES 301 Week 3 Discussion Questions
Week 3 DQ 1: For your own state, determine whether:
1. It is a judicial or nonjudicial foreclosure state
2. The standard home loan is based on a deed of trust or a mortgage.
3. There is a statutory right of redemption and, if so, how long.
4. Deficiency judgments are allowed against defaulted homeowners.
Based on this information, can you judge whether your state is relatively lender friendly or borrower friendly? Explain. For assistance answering these questions, please use foreclosureassistance.com and foreclosures.com.
Week 3 DQ 2: The main argument traditionally advanced in the favor of zoning is that it protects property values. Do you believe this contention? If so, how does zoning protect property values? If you do not believe the contention, why not?
WEEK 4
RES 301 Week 4 Discussion Questions
Week 4 DQ 1: Give some examples of up-front financing costs associated with residential mortgages. What rule can one apply to determine if a settlement (closing) cost should be included in the calculation of the effective borrowing costs?
Week 4 DQ 2: A homeowner is attempting to decide between a 15-year mortgage loan at 5.5 percent and a 30-year loan at 5.90 percent. What would you advise? What would you advise if the borrower also has a large amount of credit card debt outstanding at a rate of 15 percent?
WEEK 5
RES 301 Week 5 Discussion Questions
Week 5 DQ 1: Please answer the following questions on financial leverage, value and return:
1. Define financial risk.
2. Should the investor select the origination LTV that maximizes the expected return on equity? Explain why or why not.
3. Distinguish between recourse and nonrecourse financing. Give an example of each.
Week 5 DQ 2: What factors tend to make both owners and tenants prefer longer-term leases, all else being equal? Why might a tenant prefer a lease with a higher effective rent than an alternative leases with a lower effective rent?
RES 301 Week 5 Final Paper
The Final Paper should demonstrate a basic understanding of ethics in real estate, legal aspects of real estate, financial aspects of real estate, real estate and the economy, and the real estate valuation process. This essay should demonstrate your understanding of the course concepts as well as the implications of new knowledge of real estate principles. The focus of the Final Paper requires that you synthesize your learning and reflection in the context of the course outcomes.
Focus of the Final Paper
Submit an eight- to ten- page paper (not including the title and reference pages) on one of the topics below. You must integrate readings, class discussions, work/life experiences, and what you have learned about real estate principles.
· Subprime Lending
· Appraisal Industry
· Mortgage Industry
· Land Use in the United States
· Eminent Domain
· Property Tax and the Real Estate Market
· Foreclosures and the Real Estate Market
· Government Mortgage Programs (Fannie Mae; Freddie Mac; FHA; VA)
· Insurance and the Real Estate Market
· Mortgage Bankers
· Mortgage Brokers
· Real Estate Agent/Brokers
· Building Industry
· Home Mortgage Lending
· Mortgage Backed Securities
· REIT (Real Estate Investment Trusts)
· Taxes and Real Estate
· Real Estate Developers and the Real Estate Market
The paper must address each of the following and its impact on your chosen topic:
1. Describe the importance of ethics in real estate.
2. Discuss legal analysis in real estate including property rights.
3. Explain the financial aspects of real estate.
4. Evaluate real estate market dynamics.
5. Discuss the real estate valuation process.
Research
Students must incorporate at least five scholarly sources; two sources must be journals in addition to the text. Students should consider using the websites that are listed as recommended reading for this course as well as other credible sources from the Ashford University’s Library databases that may support their writing.
Writing the Final Paper
The Final Paper:
1. Must be eight to ten double-spaced pages in length (not including the title and reference pages), and formatted according to APA style as outlined in the Ashford Writing Center.
2. Must include a title page with the following:
· Title of paper
· Student’s name
· Course name and number
· Instructor’s name
· Date submitted
3. Must begin with an introductory paragraph that has a succinct thesis statement.
4. Must address the topic of the paper with critical thought.
5. Must end with a conclusion that reaffirms your thesis.
6. Must use at least five scholarly sources; two sources must be journals in addition to the text.
7. Must document all sources in APA style, as outlined in the Ashford Writing Center.
8. Must include a separate reference page, formatted according to APA style as outlined in the Ashford Writing Center.
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