Memo

Table 1. Client Profile

For your selection process, your manager is requiring you to use the following standard criteria—

· Location - Must be within a 40-minute commute for both Longmire parents and within a community that has families with school-aged children.

· Size – A comfortably sized house with a minimum of 4 bedrooms, 2.5 bath. The home’s size should average 675 sq ft. per person. The home should be on a minimum of 1/3-acre lot. Additionally, both parents enjoy having a home office to work from on the occasions that they need to work from home; they’d love to have a play space for the children, and they also entertain their large extended family for holidays and summer barbeques.

· Price - Monthly mortgage (including real estate taxes, homeowner’s insurance, and HOA if applicable) cannot exceed 30% of take-home per month or $4,588. In your calculation, assume that the family currently has $140,000 in equity to use as a down payment on their new home, and they will qualify for a 30- year fixed 3.25% interest rate on the mortgage.

· Comparable Properties - Similar homes within the neighborhood must be priced within 10-20% of the home’s value. (The recommended home price must be in-line with comparable properties). 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. To provide an apt comparison, research the price per square foot of each home.

· Schools—Public schools ideally should be in the top 20% of rankings or in the top 80+ percentile. Well-ranked schools are very important for this family. The intern should review the National Association of Realtors (NAR) guidance in Appendix to determine what types of educational information and recommendations are allowed.

· Additional Amenities— 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.

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.

This evaluative report must be type-written and comply with these requirements--

· File Format: Electronically using a Microsoft Word compatible file. ( No .pdf)

· General Formatting: See Rubric.

· Font: Times New Roman, 11-point (text); Arial, 13-point for headings.

· Spacing Single

· Documentation and Style: APA Publication Manuel 7th Ed.

· Use File Naming Convention: LastName_FirstName_RealEstateMemo

For the second part of your project, you will give a three-minute pitch based on your recommendation to your supervisor. You must provide four to six (4-6) PowerPoint slides as visual aids (plus an introductory and reference slide). 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

· Interaction with Audience

· General public speaking skills

Record your Performance -- You must have a classmate record your performance on his or her phone, so you can watch it and write a self-assessment. *

National Association of Realtors Guidance on Steering