Question
An appraiser needed to develop a site value opinion in a neighborhood where there have been no sales in the last 10 years. The appraised
An appraiser needed to develop a site value opinion in a neighborhood where there have been no sales in the last 10 years. The appraised found the following sales in a similar, competing market. What is the subject site value if the improved properties' values in the subject neighborhood range from $450,000 to $550,000?
| Comparable | 1 | 2 | 3 | 4 |
| Sale Price | $545,600 | $658,000 | $556,800 | $598,000 |
| Estimated Land Value | $120,000 | $145,000 | $120,000 | $130,000 |
| Estimated Building Value | $425,600 | $513,000 | $436,800 | $468,000 |
Question options:
| A. $126,000 to $154,000 | |
| B. $99,000 to $121,000 | |
| C. $120,000 to $130,000 | |
| D. $120,000 to $145,000 |
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
15th Edition
978-0840037039, 0840037031
