Evening star., 1938-06-25
APPRAISAL STUDY
COURSE IS MAPPED
Text Material Revised and
Enlarged for Summer
Institute Session.

announcement is maze To-Day OF
final plans for the case-study courses
in real estate appraisal method to be
given by the American Institute of
Real Estate Appraisers during July,
August and September in cooperation
with the School Of Business of the
University Of Chicago
The courses, developed in detail
by the institute through its Commit
tee on Education and Research, are
a major undertaking of its extensive
program to lay sound foundation for
the valuation of our real estate as
sets, a keystone for that general re-
examination of values which is going
on today and which is needed to pave
the way for new investment advance, :"
K. Lee Hyder. Milwaukee, president
of the institute, states.
While they will follow closely the
plan Of the courses given by the in
stitute in 1885 and 1886 in co-opera-
ton with the School of Business of
the University of Chicago and in 1887
in cooperation with the School of
Business of Columbia University, an
hAliIOoC NO4AlplSOC 1CtOlOll Ill VCAU lila.
terial has been made during the last
few months. We are learning more
and more and we are trying to put
this knowledge into practical form to
be passed along to the men in every
branch of real estate activity who are
enrolling in these courses to get at
the fundamental principles of valua-
ton.
Two New Subjects.
"As a completely new step, two
week course in condemnation ap-
praising and court testimony is being
offered. 1t is the first time anything
of this nature has been offered in any
educational institution in the United
States.
With the increasing importance Of
damage estimation made necessary
by the exercise of the right of eminent
domain and the consequent public i'm
portance of presentation of such esti-
mates in the courts, there has arisen
a deep-seated need, not only for the
Standardization of practice along log
ical lines, but for the elevation Of
standards of thinking to a higher
level of intelligence.
This series of lectures is intended
to delineate the basic principles un-
DERIVING the field of appraising for
condemnation purposes and to show
the practical application of these
principles in actual cases which will
be discussed. The course is intended
for those who are reasonably well
grounded in general appraisal pro-
cedure and who are competent to
make evaluations for purchase, sale
or loan purposes. It is not intended
for the novitiate whose lack of educa-
ton and experience would stand as a
barrier to progress in this class"
Specific Cases to Be Studied.
Major condemnation cases in the
United States will be used to illus
trate salient features affecting testi-
mony as to damage. Course will cover
eminent domain proceedings, market
value, valuation of part taken, dam
ages to the remainder, consequential
damages, plottage and assemblage,
benefits, leasehold damages, ease
.,lents, air rights, trial procedure, di-
rect examination, cross-examination
law OF fixtures and acquisition of data.
Real Estate Appraisal I, covering
fundamental principles and practice
OF real estate appraisal, will be given
July 25 to August 6. Dean of faculty
is Ralph V. Field, Galesburg, III.
Real Estate Appraisal II, covering
valuation of investment properties,
will be given August 8 to August 20.
Dean of the faculty for this course is
George L. Schmutz, Los Angeles,
Calf, who has served as dean of the
institutes preceding case-study courses.
Special lecture course, covering con-
demnation appraising and court testi-
mony, will be offered August % to
September 3, under personal direction
OF Mr.. Schmutz and with a special
faculty.
All courses will be given at Judson
Court on the main campus of the
University of Chicago