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BUS 0290 - Real Estate Principles

http://catalog.sierracollege.edu/course-outlines/bus-0290/

Catalog Description Hours: 54 lecture Description: Introductory real estate course surveying general concepts, rules, principles, applications, and practice areas common to California real estate and real estate transactions; provides understanding, background, and terminology necessary and required for advanced study in other fundamental or specialized courses. Helpful to everyone seeking understanding of real estate related businesses or professions, seeking to qualify for license examination, and/or covering tested concepts and terminology. (CSU) Course Student Learning Outcomes CSLO #1: Explain the applicable and basic laws, concepts and regulations of common real estate contracts and transactions and their application that presents itself in the negotiation of a residential purchase transaction and related transactions thereto. CSLO #2: Analyze common real estate transactions to determine which documents are appropriate for a given type of transaction or group of related transactions. CSLO #3: Critically analyze basic real estate data in a precise manner in order to eliminate errors in the process, including application of these procedures to all areas of agency and common disclosures. CSLO #4: Describe the interrelationship between different roles, areas, and functions in common real estate transactions, including but not limited to Agency, Sales, Escrow, Title, Collateralized Finance, and Appraisal. Effective Term Fall 2025 Course Type Credit - Degree-applicable Contact Hours 54 Outside of Class Hours 108 Total Student Learning Hours 162 Course Objectives Distinguish between real and personal property characteristics. Describe the different categories of rights in real estate and provide examples. Differentiate between agent responsibilities to a buyer and those to sellers, and how this is aligned in dual agency and disclosures. Identify the key components and use of a real estate purchase agreement. Identify the key components and use of a real estate listing agreement and a buyer representation agreement. Explain basic taxation options available to and concerns for homeowners and/or investors from the current tax code. Explain the benefits and process that title companies provide to customers and real estate agents. Explain the benefits and process that escrow provides stakeholders in a real estate transaction.  Describe the relationship between real property as collateral, real estate lending and the role of appraisal.  Identify different appraisal approaches/methods and explain the general appraisal process.  Explain and compare the effect of interest rates under varying terms in real estate lending, including stated interest rate versus APR and the effect of lender's fees or "points".  Identify and differentiate between types of lending institutions. Distinguish between an alienation clause and an acceleration clause. Relate the timelines and process of non-judicial property foreclosure in California. Compare the three types of land descriptions used in California. Identify and describe different roles and occupations related to real estate transactions and industry. General Education Information Approved College Associate Degree GE Applicability CSU GE Applicability (Recommended-requires CSU approval) Cal-GETC Applicability (Recommended - Requires External Approval) IGETC Applicability (Recommended-requires CSU/UC approval) Articulation Information CSU Transferable Methods of Evaluation Classroom Discussions Example: 1. Read the provided article on recent developments in changes on Federal "Prime" interest rates and the effect it has on current mortgage rates; what might be some of the expected changes in common real estate transactions, including sales and lending. (For online courses, the modus or manner of response may be made in multiple alternative ways or formats to best meet the needs or requirements of the student). Essay Examinations Example: 1. Describe and Analyze the relationship between the core concepts of two or more Chapters/Modules (i.e. the relationship between Appraisal and Lending). Objective Examinations Example: 1. Multiple Choice Question(s) of terms and concepts related to real estate, real property and transactions thereof. 2. Which of the following do NOT directly affect how property is generally appraised: a) Recent Sales of nearby properties with similar characteristics; b) The condition and maintenance of the property; c) The recent trends in the local market for similar property; d) All of the above have a direct affect on the potential appraisal of real property. Projects Example: 1. Provide an example of how the subject matter of the current Module/Chapter would be applied to a given role or perspective (i.e. salesperson, seller, lender, etc.) to protect his/her/their interests in the transaction. (The modus or manner of response may be made in multiple alternative ways or formats to best meet the needs or requirements of the student). Repeatable No Methods of Instruction Lecture/Discussion Distance Learning Lecture: Students are walked through the steps and buyer may encounter in a typical real estate purchase transaction, from qualification to finance to close of escrow. The students are expected to be able to identify key roles from different real estate professionals and stakeholders and how they influence, have interest or otherwise support a single transaction. Distance Learning Through recorded Lecture, Instructor will guide students through the different ways real property is subject to taxation and distinguish between how exclusions in apply to some types of taxation (i.e. property tax re-evaluation) and not others (i.e. capital gains taxation), and under what circumstances these may or may not occur. The students are expected to be able to demonstrate their understanding that there are different types of taxation and different types of taxation "basis" applicable to each. Typical Out of Class Assignments Reading Assignments 1. Do an internet or similar resource search to locate, read and share an article, video, or similar report to be aware of current real estate events, concepts and trends for use in class discussions. 2. Read assigned chapters in advance of class sessions for use in lecture and discussion. Writing, Problem Solving or Performance 1. Provide an example of how the subject matter of the current Module/Chapter would be applied to a given role or perspective (i.e. salesperson, seller, lender, etc.) to protect his/her/their interests in the transaction or fulfill other responsibilities to other transactions stakeholders. (The modus or manner of response may be made in multiple alternative ways or formats to best meet the needs or requirements of the student). 2. Arrange a timeline for a trust deed foreclosure in California. Other (Term projects, research papers, portfolios, etc.) Term Projects Required Materials California Real Estate Principles Author: Huber Publisher: Education Textbook Company Publication Date: 2020 Text Edition: 16th Classic Textbook?: OER Link: OER: Other materials and-or supplies required of students that contribute to the cost of the course.