Imagine you are appraising a condominium/strata unit in your area (or an area of your choice). You have found three comparables, which sold 3, 6 and 12 months ago. You need to adjust these comparable for time, based on the market conditions experienced in this area over the past 12 months. You must develop an appropriate percentage time adjustment for each of these sales. 

Explain what support you are relying on to justify/ substantiate these adjustments and show all calculations. 

Ensure that you discuss both primary and secondary research sources, and where possible, you should provide the outcomes of this research (if primary research is not possible, such as accessing sales data, then you may explain what you would do if you had full access to market data; you may also use hypothetical sales data if you like).

Answer rating: 100% (QA)

To develop time adjustments for the three comparables I would rely on both primary and secondary res... View the full answer