Evening star., 1938-04-23
APPRAISAL STUDY
COURSES OFFERED
Procedure in Condemnation
and Court Testimony
Are Included.

Extension of technical education In
real estate appraisal as developed by
the American Institute of Real Es-
tate Appraisers into a field never be-
fore covered and one Of great public
importance will be made In courses
announced to be given this summer
by the institute, professional branch
Of the National Association Of Real
Estate Boards. in cooperation with
the School of Business of the Uni
versity Of Chicago.
Appraising for condemnation pur-
poses and court testimony on real
estate valuations will for the first
time be included in these courses,
subject matter and text material for
which have been developed by the
Education Committee of the institute.
The Institutes new special lecture
course in condemnation appraising
will be under the personal direction
OF George L. Schmutz, Los Angeles,
author of volume. Condemnation
Appraisers Handbook. to be pub
lished by Prentice, Hall, Inc, and
now on the press.
Will Serve rs Dean.
Mr.. Schmutz, who has been dean
OF the Institutes three previous ap-
praisal courses, two of them given
in cooperation with the School of
Business Of the University of Chi
cago and the other in cooperation
with the School of Business of Co.
lumbia University. will be dean of
the faculty for Appraisal II OF the
coming courses
Ralph v. Field. Galesburg, H.. will
be dean of the faculty for Appraisal I
Subject matter and dates for the
courses are announced by K. Lee
Hyder, Milwaukee, president Of the
institute as follows:
Real estate. Appraisal I, covering
the general appraisal process, will be
given July Is to August g.
Real estate. Appraisal II, covering
the appraisal Of investment properties,
will be given August to August 20.
Special lecture course. covering con-
demnation appraising and court testi-
mbny. will be offered August % to
September 3.
All courses will be given at Judson
Court on the main campus of the
University of Chicago
Designed for the Experienced.
The courses are designed primarily
FOR persons of experience in the busi-
ness OF real estate and are expected
to draw their student body from zeal
estate business leaders over the coun-
try and from real estate or appraisal
officers of public and private institu-
tions concerned with the valuation
of property. They are planned to
furnish a practical training in every
day problems of real estate appraising.
The courses will give training in
assembling and analvzing field data
and in the actual computation and
mechanics of valuation and are aimed
to help the student secure a clear
understanding of the functions of
real estate appraisal in business and
Of the forms and purposes of appraisal
reports.
Field work in the appraisal of ac-
tual Chicago properties will be an
important feature of the training.
which will include thorough ground
work in the principles and theories
Of valuation.
Subjects of Courses.
Single family homes will be ap-
praised by students in Appraisal I.
Typical small apartment properties
and typical retail business properties
will be the case study subjects in
Appraisal II. Appraisas to be made
by the students will cover balanced
improvements. overimprovements. un-
derimprovements and misplaced i'm
provements.
Major subjects covered in the con-
demnation course include eminent
domain proceedings, market value,
valua ton Of the part taken, damages
to the remainder, consequential dam
age. plottage increment. assemblage
cost benefits, leasehold damages, ease
ments, court testimony.
The comprehensive text material
developed by the institute for use in
its case study courses in 1885, 1896
and 1887 has been revised and re-
written for the 1888 courses in the
light of evolving understanding of
the principles of the appraisal process.
None of the text material is for sale
Its distribution is limited to students
enrolled in these case study courses.