Using the given information to estimate the property value

Assumptions
	Market Conditions	0.30%	month increase
	Lot price	$ 100,000	per acre
	Siding	$ -	adjustment
	Brick Front/Siding	$ 2,500	adjustment
	All Brick	$ 4,000	adjustment
	Depreciation	$ 1,250	year
	Living Area	$ 58	sq. ft.
	Porch/Patio	$ 26	sq. ft.
	Pool	$ 7,000
	Bath	$ 4,000

Section 2: Problem solving questions; (Demonstrate your calculation steps to receive partial credit)

Elements of Comparison		Subject		Comp 1	Comp 2	Comp 3
Sales price of comp
Transaction Adjustments
Adj for property rights		Fee Simple
Adj for financing terms		Conventional
Adj for conditions of sale		Arm's Length
Adj for expenditures after sale		None
Adj for market conditions		Today
Total Transaction Adjustments
Property Adjustments
Location		Parkway Estate
Physical Characteristics:
	Site	.50 acres
	Construction Quality	Siding/good
	Effective Age	3 years
	Living Area	1960 sq. ft.
	Baths	2.5
	Porch, patio, deck	None
	Fence, pool, etc.	None
Total Property Adjustments
Final Adjusted Sales Price

Coimp Sale 1 $169,900 Comp Sale 2 $167,200 Comp Sale 3 $157,100 Elements of Comparison Subject Sale price of comparable Transaction characteristics Property rights conveyed Financing terms Conditions of sale Expenditures immed. after purchase Market conditions Fee simple Conventional Arm's length Same Same Same None This month Same Same Same None 3 mos. ago Same Same Same None 4 mos. ago Today Property characteristics Location Physical characteristics Parkway Estates Same Same Same Site/lot size Construction quality Effective age Living area Number of baths Garage spaces Porch, patio, deck Fence, pool, etc 0.50 acres Siding 3 years 1,960 sq. ft 2.5 baths 2-car None None N.A. Single-family None 0.50 acres Siding/brick 6 years 2,060 sq. ft 2.5 baths 2-car None None N.A Same None 0.45 acres Siding 10 years 2.077 sq. ft. 2.5 baths 2-car None Pool N.A Same None 0.48 acres Brick 15 years 1,818 sq. ft. 3.0 baths 2-car 200 sq. ft Economic characteristics Use Nonrealty components N.A Same None Coimp Sale 1 $169,900 Comp Sale 2 $167,200 Comp Sale 3 $157,100 Elements of Comparison Subject Sale price of comparable Transaction characteristics Property rights conveyed Financing terms Conditions of sale Expenditures immed. after purchase Market conditions Fee simple Conventional Arm's length Same Same Same None This month Same Same Same None 3 mos. ago Same Same Same None 4 mos. ago Today Property characteristics Location Physical characteristics Parkway Estates Same Same Same Site/lot size Construction quality Effective age Living area Number of baths Garage spaces Porch, patio, deck Fence, pool, etc 0.50 acres Siding 3 years 1,960 sq. ft 2.5 baths 2-car None None N.A. Single-family None 0.50 acres Siding/brick 6 years 2,060 sq. ft 2.5 baths 2-car None None N.A Same None 0.45 acres Siding 10 years 2.077 sq. ft. 2.5 baths 2-car None Pool N.A Same None 0.48 acres Brick 15 years 1,818 sq. ft. 3.0 baths 2-car 200 sq. ft Economic characteristics Use Nonrealty components N.A Same None