Course Information


Course Information
Course Title Code Semester L+U Hour Credits ECTS
THEORIES AND PRACTICES OF REAL ESTATE AND ASSET VALUATION I 805012725030 3 + 0 3.0 8.0

Prerequisites None

Language of Instruction Turkish
Course Level Graduate Degree
Course Type Compulsory
Mode of delivery
Course Coordinator
Instructors Harun TANRIVERMİŞ
Assistants
Goals The course aims to gain students basic concepts of real estate science, historical development and stages of the science of valuation, the development and importance of the areas that require valuation, the formation of value in economic science, the purpose of realization of property and asset valuation methods to compare the methods of real estate valuation.
Course Content Scope and content are, development of valuation science, definition and comparison of the concepts of value, price, and cost, factors affecting the values of goods and assets, classification of goods and assets subject to valuation: movable goods, real estates (or immovables), works of art, antiques and intangible assets, rural and urban immovable markets: properties, data sources, data collection, analysis and evaluation, analysis of bases used in valuation: definition of land and lot, planning data, land use and land use types, inventory and identification of structures, types of building materials, identification of other assets, real estate and asset valuation methods: market value (comparative methods), cost methods, capitalization theory and income methods, land valuation process and practices based land types: agricultural lands where annual and perennial crops are grown, meadows and pastures, forest and other rural land, peri-urban and urban land valuation, effective and efficient use analysis, analysis of selected valuation practices for land, plot, residential and commercial buildings, industrial facilities, and other real estate and assets, problem definition, comparison of international valuation standards and country practices, gap analysis and evaluation.
Learning Outcomes 1) To teach the stages, objectives, goals and importance of valuation, concept and scope of value.
2) Compares the concept and scope of value.
3) Analyze the valuation methods.

Weekly Topics (Content)
Week Topics Teaching and Learning Methods and Techniques Study Materials
1. Week Development of valuation science and its history Lecture; Discussion
Opinion Pool
Brain Based Learning
Presentation (Including Preparation Time)
2. Week Definition and comparison of value, price and cost concepts Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
3. Week Factors affecting the values of goods and assets Lecture; Discussion
Opinion Pool
Brain Based Learning
Presentation (Including Preparation Time)
4. Week Classification of the assets Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
5. Week Rural and urban real estate markets Lecture; Question Answer; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
6. Week Properties of real estate markets, data sources, data collection, analysis and evaluation Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
7. Week Analysis of valuation mats: definition of land Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
8. Week Planning data Lecture; Discussion
Station
Brain Based Learning
Presentation (Including Preparation Time)
9. Week Types of land using Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
10. Week Inventory and identification of structures, building materials and classes Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
11. Week Market value (based on comparison) Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
12. Week Cost methods Lecture; Discussion
Colloquium
Brain Based Learning
Presentation (Including Preparation Time)
13. Week Capitalization theory and income methods Lecture; Discussion
Buzz Group
Problem Based Learning
Presentation (Including Preparation Time)
14. Week Effective and efficient use analysis, analysis of selected valuation practices for land, plot, residential and commercial buildings, industrial facilities, and other real estate and assets, problem definition, comparison of international valuation standards and country practices, gap analysis and evaluation Lecture; Discussion
Speech Loop
Brain Based Learning
Presentation (Including Preparation Time)

Sources Used in This Course
Recommended Sources
Açlar, A. ve Çağlar, V., 2002. Taşınmaz (Gayrimenkul) Değerlemesi, TMMOB Harita ve Kadastro Mühendisler Odası Yayını, Ankara
Akerson, B.C., 1980. The Appraiser’s Workbook, Appraisal Institute, Chicago, USA.
Aliefendioğlu, Y., Tanrıvermiş, H., 2015. Kentsel Dönüşüm Sürecinde Taşınmaz ve Proje Değerleme İşlemleri ve Sorunlarının Analizi: Kayseri Büyükşehir Belediyesi Sahabiye ve Fatih Mahalleleri Dönüşüm Projesi Örneği Çerçevesinde Değerlendirme, Uluslararası Sosyal Araştırmalar Dergisi, Cilt: 8(39): 736-769.
American Institute of Real Estate Appraisers, 1983. The Appraisal of Rural Property, Second Edition, Chicago, Illinois, USA.
Bank of International Settlements (BIS), 2006. Housing Finance in the Global Financial Market, Committee on the Global Financial System Papers No.26, Basel.
Banks, J.A., Cary, S.M., Harmon, L.C. ve Zucker-Maltese, C.R., 2001. Principles of Real Estate, Fourteen Edition, IREM Institute of Real Estate Management, Chicago, USA.
Barlow R., 1986. Land Resource Economics: The Economics of Real Estate, 4th Edition, Englewood Cliffs, N.J.:Prentice-Hall, USA.
Baum, A., Mackmin, D. ve Nunnington, N., 1997. Income Approach to Property Valuation, Edition 4, International Thomson Business Press, London, UK.
Bell, R., Anderson, O.C. ve Sanders, M.V., 2008. Real Estate Damages: Applied Economics and Detrimental Conditions, Second Edition, US Appraisal Institute, USA.
Betts, R.M. ve Ely, S.J., 2005. Basic Real Estate Appraisal, Sixth Edition, Thomson, USA.
Bolton, D.R., 1993. Properties Near Power Lines and Valuation Issues: Condemination or Inverse Condemination, In: Procedings of the Institute o Planning, Zonning and Eminent Domain, The Southwestern Legal Foundation, Dallas, Texas, USA.
Casler, G.L. ve White, G.B., 1982. Alternative Methods of Capitalizing Income From Orchard, Groves and Vineyards, Cornell University Staff Paper, July 1982, No: 82-22, USA.
Conneman, G.J., 1983. Farm Appraisal Handbook, Cornell University, Ithaca, Newyork, USA.
Demirci, R., Tanrıvermiş, H. ve Aliefendioğlu, Y. 2007. Türkiye’de Arazi Yönetimi ve Piyasası: Temel Özellikleri, Yasal ve Kurumsal Düzenlemeler, Sorunlar ve Değerleme Çalışmaları Üzerine Etkileri, Türk Kooperatifçilik Kurumu, Üçüncü Sektör Kooperatifçilik, Cilt (2007):42, Sayı:4:38-63, Ankara.
Denyer-Green, B., 1998. Compulsory Purchase and Compensation, Fifth Edition, Estates Gazette, London, UK.
Emerson, D.M., 2008. Subdivision Valuation, US Appraisal Institute, USA.
Gloudemans, R. ve Almy, R., 2011. Fundamentals of Mass Appraisal, International Association of Assessing Officers, Kansas City, Missouri, USA.
International Association of Assessing Officers (IAAO), 2013. Standard on Mass Appraisal of Real Property, Kansas City, Missouri, USA.
Klamer, A. ve Zuidhof, P.W., 1998. The Values of Cultural Heritage: Merging Economic and Cultural Appraisals, In: M.de la Tore and R. Mason (Eds), Economics and Heritage Conservation, Getty Conservation Institute, Los Angeles, USA.

Relations with Education Attainment Program Course Competencies
Program RequirementsContribution LevelDK1DK2DK3
PY15555
PY25555
PY35555
PY45555
PY55555
PY65555
PY75444
PY85555
PY95555
PY105555
PY115555
PY125444
PY135333

*DK = Course's Contrubution.
0 1 2 3 4 5
Level of contribution None Very Low Low Fair High Very High
.

ECTS credits and course workload
Event Quantity Duration (Hour) Total Workload (Hour)
Course Duration (Total weeks*Hours per week) 14 3
Work Hour outside Classroom (Preparation, strengthening) 14 3
Homework 1 80
Final Exam 1 4
Time to prepare for Final Exam 1 60
Total Workload
Total Workload / 30 (s)
ECTS Credit of the Course
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