Given the following information, determine the final appraisal value of the subject property using only this...

 

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Given the following information, determine the final appraisal value of the subject property using only this comparable. Market conditions Lot size Effective age (years) Living area (sq. ft) Bath Bedrooms Time sold Lot size (acres) Effective age (years) Living area (sq. ft) Bath Bedrooms Sale price Adjustments -0.50% (per month) $30,000 (per acre) $1,000 (per year) $46.00 (per sq. ft.) $1,250 (per bath) $4,000 (per bedroom) Subject Property Today Comparable Property 5 months ago 0.83 8 2,197 3.5 4 1 12 2,383 3.5 4 $273,000 Given the following information, determine the final appraisal value of the subject property using only this comparable. Market conditions Lot size Effective age (years) Living area (sq. ft) Bath Bedrooms Time sold Lot size (acres) Effective age (years) Living area (sq. ft) Bath Bedrooms Sale price Adjustments -0.50% (per month) $30,000 (per acre) $1,000 (per year) $46.00 (per sq. ft.) $1,250 (per bath) $4,000 (per bedroom) Subject Property Today Comparable Property 5 months ago 0.83 8 2,197 3.5 4 1 12 2,383 3.5 4 $273,000

Answer rating: 100% (QA)

SOLUTION To determine the final appraisal value of the subject property using only the given comparable we need to make adjustments for the differences between the subject property and the comparable property 1 Market Conditions Adjustment The subject property sold today while the comparable property sold 5 months ago Given a market condition adjustment of 050 per month we need to calculate the adjustment for the time difference ... View the full answer