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12. You are interested in buying a single-family residence located at 3789 Golden Hill Street, Nanaimo. The market data grid has been completed for you
12. You are interested in buying a single-family residence located at 3789 Golden Hill Street, Nanaimo. The market data grid has been completed for you reference as follows: (M4) Subject Property Comp 1 Comp 2 Comp 3 Elements of Comparison Transaction price Conditions of sale Financing terms Sale dates Location Site size Construction quality Age Living area Number of bath Garage spaces Sun deck $580,000 Friend to friend Conventional 6 months ago Heather Park $625,000 Arm's length Conventional 3 months ago Heather Park 0.6 acre Wood siding Arm's length Conventional Today Heather Park 0.5 acre Wood siding 4 yrs. 3850 sq ft $599,000 Arm's length Conventional 6 months ago Heather Park 0.5 acre Brick siding 0.45 acre 5 yrs. Brick siding 7 yrs. 3950 sq ft 4 yrs. 3800 sq ft 3900 sq ft 4 3 2.5 4 2 3 2 3 0 200 sq ft 0 300 sq ft Pool 0 Pool 0 0 Legal characteristics Use Zoning Non-realty items Fee simple Single-family Fee simple Single-family Build-in appliances Fee simple Fee simple Single-family Single-family Special facility for Oak bookshelves disability 0 The amount of the adjustment for each item had been estimated by your agent and is shown in the list below: A friend-to-friend transaction implies $8,000 discount, based on a comment from the agent. Market conditions: 0.4% per month Lot size: $100,000 per acre Construction quality: No adjustment for wood siding; $6,000 if brick siding (better quality than wood) Age: $2,500 per year Living area: $160 per square foot Bath: $12,000 each Garage space: $6,000 for each additional car space Sun deck: $80 per square foot Pool: $15,000 Non-realty items: $5,000 additional for build-in appliances; $2,000 for disability facility; and $2,000 for Oak bookshelves Apply the information above and complete the following adjustment and reconciliation tables. Adjustment table: Comp 1 Comp 2 Comp 3 Subject Property Elements of Comparison Transaction price +/- Conditions of sales +/- Financing terms Normal sale price +/- Market condition =Market-adjusted normal sale price +/- Location +/- Site size +/- Construction quality +/- Age +/- Living area +/- Bath +/- Garage +/- Sun deck +/- Pool +/- Legal Characteristics +/- Use/Zoning +/- Non-realty items = Final adjustment sale price Reconciliation: Source Weighted Price Comp 1 Comp 2 Comp 3 Final Adjusted Sale Weights Price (Assume equal weights) 40% 30% 30% Indicated Value of the Subject Project 1 12. You are interested in buying a single-family residence located at 3789 Golden Hill Street, Nanaimo. The market data grid has been completed for you reference as follows: (M4) Subject Property Comp 1 Comp 2 Comp 3 Elements of Comparison Transaction price Conditions of sale Financing terms Sale dates Location Site size Construction quality Age Living area Number of bath Garage spaces Sun deck $580,000 Friend to friend Conventional 6 months ago Heather Park $625,000 Arm's length Conventional 3 months ago Heather Park 0.6 acre Wood siding Arm's length Conventional Today Heather Park 0.5 acre Wood siding 4 yrs. 3850 sq ft $599,000 Arm's length Conventional 6 months ago Heather Park 0.5 acre Brick siding 0.45 acre 5 yrs. Brick siding 7 yrs. 3950 sq ft 4 yrs. 3800 sq ft 3900 sq ft 4 3 2.5 4 2 3 2 3 0 200 sq ft 0 300 sq ft Pool 0 Pool 0 0 Legal characteristics Use Zoning Non-realty items Fee simple Single-family Fee simple Single-family Build-in appliances Fee simple Fee simple Single-family Single-family Special facility for Oak bookshelves disability 0 The amount of the adjustment for each item had been estimated by your agent and is shown in the list below: A friend-to-friend transaction implies $8,000 discount, based on a comment from the agent. Market conditions: 0.4% per month Lot size: $100,000 per acre Construction quality: No adjustment for wood siding; $6,000 if brick siding (better quality than wood) Age: $2,500 per year Living area: $160 per square foot Bath: $12,000 each Garage space: $6,000 for each additional car space Sun deck: $80 per square foot Pool: $15,000 Non-realty items: $5,000 additional for build-in appliances; $2,000 for disability facility; and $2,000 for Oak bookshelves Apply the information above and complete the following adjustment and reconciliation tables. Adjustment table: Comp 1 Comp 2 Comp 3 Subject Property Elements of Comparison Transaction price +/- Conditions of sales +/- Financing terms Normal sale price +/- Market condition =Market-adjusted normal sale price +/- Location +/- Site size +/- Construction quality +/- Age +/- Living area +/- Bath +/- Garage +/- Sun deck +/- Pool +/- Legal Characteristics +/- Use/Zoning +/- Non-realty items = Final adjustment sale price Reconciliation: Source Weighted Price Comp 1 Comp 2 Comp 3 Final Adjusted Sale Weights Price (Assume equal weights) 40% 30% 30% Indicated Value of the Subject Project 1
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