Real Estate Analysis ScenarioAs a newly minted intern at The Owens Real Estate Group, your manager, Ms. Sally Shimmer, wants to test your ability to evaluate properties for potential clients—a large part of the support role you will be accepting as an intern. For this task, Ms. Shimmer has provided you with a client profile; using this profile along with readily available online resources, you are to recommend an ideal home for the client, while also providing a 1-2 paragraph summary of two (2) alternates that MUST meet the same criteria. You will then draft an evaluative memo and prepare a 3-minute pitch for the selection you have made. Client Profile – The Sanchez Family The Sanchez Family is currently planning on moving from their home in Lutherville, Maryland due to a new job opportunity for Mr. Edward Sanchez at the The Johns Hopkins Applied Physics Lab in Fulton, Maryland. Ideally, Mr. and Mrs. Sanchez want to move to a new home within 20 minutes of commuting between their jobs. Additionally, they hope to find a minimum 4-bedroom home that cannot exceed 30% of their monthly take-home pay of $12,000 per month. Other considerations are school rankings and additional amenities such as recreation and shopping. The family is very active and they expressed a preference for outdoor activities that are appropriate for the whole family. Table 1. Client ProfileNameAgeOccupationIncomeMr. Jerry Sanchez42Engineer, The Johns Hopkins Applied Physics Lab, Fulton, Maryland$98,000Mrs. Beth Sanchez38Policy Analyst, Social Security Administration, Woodlawn, Maryland$102,000Summer Sanchez16StudentN/AMorty Sanchez14StudentN/ARick Sanchez2In DaycareN/A Criteria for SelectionFor your selection process, Ms. Shimmer is requiring you to use the following standard criteria—· Location – Must be within a 20-minute commute.· Size – Minimum 4-bedrooms; additionally, the home should on a minimum ¼ acre lot in a suburban community. · Price – Monthly mortgage (including taxes, insurance, and HOA if applicable) cannot exceed 30% of take-home per month or $3600. In your calculation, assume that the family currently has $110,000 in equity to use as a down payment on their new home. · Comparables – Similar homes within the neighborhood must be priced within 10-20% of the home’s value.· Schools—Public schools ideally should be in the top 20% of rankings or in the top 20 percentile. · Additional Amenities—recreation, shopping, etc. To Make a Valid Claim You Must Evaluate Evidence Using a WarrantIn order to make an argument, you must—1. Address the Issue2. Make a Valid Claim Based on the Issue3. Provide Credible Evidence4. Interpret the Evidence Using a Warrant Address the IssueThe issue for the assignment is that your boss wants you to recommend a home based on the client profile that she provided, while also providing 2-3 alternates. Make a Valid Claim Based on the IssueOnce you have analyzed (evaluated) your choices, you are to recommend an ideal home based on the criteria provided in the client profile. Provide Credible EvidenceTo prove that your claim is valid, you will need to provide evidence (data). Hence, you will be required to conduct some research. As such, you will need to research homes using readily available real estate databases, e.g. Zillow, Redfin, Trulia, etc. Additionally, you will need to also have to navigate other resources to evaluate home price, schools, and amenities. Interpret the Evidence Using a WarrantTo evaluate your evidence, you will first need to understand the warrant that you will be using for interpretation—you are defining how the data supports the claim. In this case, the warrant uses a criterion as grounding (also known as a standard). A standard tells us how things ought to be. In other words, it defines what ought to be. Location of the home must be within a 20-minute commute. Your home selection must be within an average of a 20-minute commute. You will need to provide an estimation and a rationale for how you determined that the home falls within this criterion. Size of the home must include a minimum of 4-bedrooms. For the size of the home, it must include a minimum of 4-bedrooms; however, when considering the home, you should strive to provide enough room for five active people. This requires you to research the optimum square footage for a family this size. Additionally, the home should be on a minimum ¼ acre lot within a suburban community. Price of the home cannot exceed 30% of take-home. In terms of price, the mortgage payment cannot exceed 30% of take-home pay per-month. The family income is $12,000 net. You will need to research the price of the home along with the monthly mortgage rates, property tax rates (by county), and insurance to determine if you meet the standard. Additionally, assume that the family currently has $110,000 in equity to use as a down payment on their new home. For this assignment, you are to provide an estimate based on the available resources. There are multiple tax and insurance calculators available online—with your estimate, please describe all assumptions that you have made in your calculation. Value of the home must fall within comparable prices. Compare the size and price of the home along with upgrades that add value. Select two (2) homes within one (1) mile of the home to compare prices. For comparable, you are trying to determine the best value for the price. Schools must be highly ranked. Education is especially important to your clients. Ideally, the schools near the home that you selected must be within the top-third in the county. To research this criterion, review ranking sites such as Smarter, Greatschools, etc. When evaluating schools using these tools, try to ensure that that they are in the top twenty percent by score or percentile. Amenities must include recreation and shopping. For this criterion, you will need to review amenities—use your best judgement. The family is very active with a preference for outdoor activities, so you will need to review local parks, pavilions, campgrounds, ballfields, and trails. Write an Evaluative Memo For the first part of your project, you will draft a memo that adheres to the basic principles of business writing: · Use proper memorandum format.· Provide a proper addressee.· Provide attribution (citation) for your sources. · Include an introductory statement that foreshadows or “sells” the main idea.· Use deductive structure.· Condense information using a minimum of one table, chart, graph, and/or image.· Use well-developed headings.· Use chunked paragraphs.· Use error-free prose. Develop a Three Minute Pitch Presentation For the second part of your project, will give a three-minute pitch based on your recommendation to your boss. You must provide four PowerPoint slides as visual aids (min/max 9 slides). You must identify the wants and needs of your audience (see. Assignment Scenario). For your presentation, you will be evaluated by several criteria:· Content focused on the process of making your selection· Organization of information· Relationship between content and visual aids· Professional demeanor· General public speaking skills
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