Question: In using transaction data to determine the current value of the subject property, it is important to recognize that general market conditions may have changed

In using transaction data to determine the current value of the

In using transaction data to determine the current value of the subject property, it is important to recognize that general market conditions may have changed since a particular transaction occurred. Suppose you gathered the following information: Property A sold 9 months ago for $410,000 and Property B sold 12 months ago for $405,000. If the two properties were sold today at $425,00 and $465,000, respectively. a). What is the average monthly rate of increase that can be used to adjust comparable prices for changes in market conditions? 0.779 b). Based on your answers to part a, and given the following information, determine the final appraisal value of the subject property. Choose... Adjustments Market conditions from part a. Lot size $25,000 (per acre) Effective age (years) $1,000 (per year) Living area (sq. ft) $45.00 (per sq. ft.) Bath $1,250 (per bath) Bedrooms $3.000 (per bedroom) Subject Property Comparable Property Time sold Today 9 months ago Lot size (acres) 0.83 0.80 Effective age (years) 8 7 Living area (sq. ft) 2,197 2.383 In using transaction data to determine the current value of the subject property, it is important to recognize that general market conditions may have changed since a particular transaction occurred. Suppose you gathered the following information: Property A sold 9 months ago for $410,000 and Property B sold 12 months ago for $405,000. If the two properties were sold today at $425,00 and $465,000, respectively. a). What is the average monthly rate of increase that can be used to adjust comparable prices for changes in market conditions? 0.779 b). Based on your answers to part a, and given the following information, determine the final appraisal value of the subject property. Choose... Adjustments Market conditions from part a. Lot size $25,000 (per acre) Effective age (years) $1,000 (per year) Living area (sq. ft) $45.00 (per sq. ft.) Bath $1,250 (per bath) Bedrooms $3.000 (per bedroom) Subject Property Comparable Property Time sold Today 9 months ago Lot size (acres) 0.83 0.80 Effective age (years) 8 7 Living area (sq. ft) 2,197 2.383

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