An appraiser is attempting to estimate the value of a house based on 3 nearby, recent, and arms-length comparable sales.

The house has 2000 feet of AGLA and the basement has 1500 sft finished and 500 sft unfinished. It also has a walk-out basement, and was financed with a conventional loan without any required seller concessions.

Comparable Sale Info

Comp 1 sold for $230,000 with no seller financing concessions. It has 2,110 AGLA sft, 2000 sft of finished basement, and 110 sft of unfinished basement, and it is a regular basement (not a walk-out).

Comp 2 sold for $215,000 with a $3000 seller financing concession. It has 2,070 of AGLA sft, 1,000 sft of finished basement sft and 1,070 sft of unfinished basement. It is walk-out basement.

Comp 3 sold for $200,000 with $2000 of seller financing. It has 2,200 AGLA sft, 1,200 sft of finished basement, and 1000 sft of unfinished basement, and it is a walk-out basement.

Value Adjustments for you to use:

Prior pairwise analyses determined that the marginal value of AGLA is $60/sft versus $30 for finished basement square footage and $18 for unfinished basement square footage. Walk-out basements were determine to add $8000 to the value of homes in this price range.

Suggestion on how to do this quiz:

I suggest you create and comp sale adjustment grid in MS excel to organize all the data and to have the math done automatically. I also suggest you include physical feature differences between comps and the subject and then in columns right below that you put the $ value of adjustments. You will then answer (below here) a series of questions related to the grid table which are organized by each specific comparable sale.

The AGLA Size Adjustment for Comp#1 is $_____________.

What is the Finished basement sft adjustment for Comp 1:

What is the Un-Finished basement sft adjustment for Comp 1:

Don't have to answer all but one or two would be great!