Final Project Choose ONE of the Four Options
For your final project, select one of the following options to demonstrate your understanding of real estate appraisal concepts.
Option 1: Appraisal Report Work
Choose either A or B:
A. Write an Appraisal Review Report
- For reviewing a residential appraisal:
- Choose an appraisal provided in the course OR one you find on your own (can be your house, favorite house on zillow.com, etc)
- If reviewing a single-family residential (1004) appraisal, you may use Fannie Mae Form 2000 (Appraisal Field Review Report)
- You may type answers directly on the form OR create a Word document and follow the format of the “Form 2000”
- For reviewing a commercial appraisal:
- Write a report comparing the subject property to its comparable properties
- Include details about similarities and differences
- Optional: Add a simple grid or table to organize data/comparisons
- Address key questions:
- Were the comps similar?
- Were the adjustments reasonable?
- Is the data accurate?
- Is the final value conclusion well supported?
- Are there any errors in the report?
- Are the capitalization rates (cap rates) appropriate and supported by market data?
B. Create an Appraisal Report
- Choose a subject property and find three comparable properties using a real estate website (Zillow, Redfin, MLS)
- Complete an appraisal using the 1004 form (download from “Bonus Material” section in Canvas)
- Fill in as much of the form as possible
- Alternatively, create your own similar grid with subject data, comp data, adjustments, and a final value reconciliation
- For commercial appraisal reports: Please email me for specific instructions
Option 2: Appraiser Interview Report
- Interview a licensed or certified real estate appraiser and document the conversation (provide name and license type of appraiser)
- Provide a list of questions asked and their responses in a two-page written report
- Cover key topics related to the appraisal profession, changes, career path methods, challenges, and industry insights. You choose the questions.
Option 3: Appraisal Career Video
- Record a five-minute video with a licensed or certified real estate appraiser discussing the appraisal profession (provide name and license type of appraiser)
- Topics may include career pathways, industry trends, job responsibilities, challenges in writing reports, and advice for aspiring appraisers (you can choose the questions)
- Upload your video to YouTube or as an MP3 file on Canvas
Option 4: Real Estate Math Tutorial
Choose either A or B:
A. Create a Five-Minute Video
- Demonstrate how to use the HP-12C financial calculator, BAII Plus calculator, or Excel spreadsheet to solve real estate math problems
- Show step-by-step calculations and explain how the tool helps with real estate computations
- Upload your video to YouTube or as an MP3 file on Canvas
B. Create an Excel Spreadsheet
- Include at least four real estate math formulas discussed in the textbook
- Clearly label each formula and provide a brief explanation of its purpose
- Submit the Excel file with your completed work
Reminder: Choose the option that best fits your interests and learning style. Make sure your project is clear, complete, and well-presented to earn the highest possible score!
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