Eva Maria Steiner
Associate Professor of Real Estate, King Family Early Career Professor
Eva Steiner is an Associate Professor of Real Estate at the Penn State Smeal College of Business. Prior to joining Smeal, she was an assistant professor of real estate at Cornell University. She obtained her MPhil and PhD degrees from the University of Cambridge, UK.
Real Estate Finance and Economics
Ph.D., Land Economy (Real Estate Finance), University of Cambridge, 2014
M.Phil., Real Estate Finance (Real Estate Investment), University of Cambridge, 2008
B.A., Business Administration (Tourism and Hospitality), University of Heilbronn, 2006
REST 550 – CONTEMP REST ISSUES (2)
This course surveys important issues in real estate markets, including special characteristics of real estate markets, valuation of real properties, mortgage mechanics and calculations, valuing investment opportunities, financing corporate real estate, financing project development, and the secondary mortgage marketAfter taking this course, students will be able to:1. Demonstrate understanding of basic features of real estate markets;2. Value real estate using the sales comparison approach and the income approach;3. Conduct mortgage-related calculations and make mortgage-financing decisions;4. Calculate before and after tax cash flows from income properties;5. Make investment decisions for income properties, and conduct sensitivity analysis;6. Conduct sensitivity analysis, partition Internal Rate of Return (IRR), and apply the real option approach in making investment decisions;7. Make real-estate-related decisions for non-real estate firms;8. Demonstrate understanding of the financing of project development;9. Know cash-flow mechanics and risk-sharing attributes of some mortgage-backed securities,10. Demonstrate understanding of Real Estate Investment Trusts (REITs) and their role in real estate investment
REST 890 – Colloquium (1)
Continuing, professionally oriented seminars that consist of a series of individual lectures by faculty, students, or outside speakers.
RM 450 – Cont Iss R Est Mkt (3)
Historical performance, land use issues, market valuation, real estate development, public policy issues.
REST 590 – COLLOQUIUM (1)
Continuing seminars that consist of a series of individual lectures by faculty, students, or outside speakers.