Answered step by step
Verified Expert Solution
Question
1 Approved Answer
assistance with creating an excel spreadsheet please the total should equal out to 270000 Actual Project Assumptions For the sales comparison approach, the analysis relies
assistance with creating an excel spreadsheet please
Actual Project Assumptions For the sales comparison approach, the analysis relies on the following set of assumptions Market conditions: 0.1 percent per month (values have increased in neighborhood). Lot size: S150,000 per acre. Construction quality: All brick is $7.000 more than all siding ($3.500 more than brick front): brick front is $3.500 more than all siding (53,500 less than all brick). Effective age: $2,000 per year. Living area: $70.00 per square foot. Porch, patio, deck area: $21.00 per square foot. Pool area: $9,000. Bath: $5,000 per full bath In addition, the following assumptions are needed to complete the sales approach with the Actual set of assumptions: Comparable Sale I. weighting: 50% Comparable Sale 2 weighting: 30% Comparable Sale 3, weighting: 20% For the cost approach, the appraisal relies on the following set of assumptions: Living area, estimated cost of reproduction: $95.00 per sq. ft. Garage, estimated cost of reproduction: 89.100. Appliances, estimated cost of reproduction: $3,800. Physical depreciation: 8% of total improvement costs. Functional obsolescence: None. External obsolescence: None. Site value, estimated: 552,000. Landscaping and other miscellaneous site improvements, current value: $6,000. Actual: In addition, the following information is available for three comparable properties. Subject Elements of Comparison Sale price of comparable Comp Sale ! $245,800 Comp Sale 2 $279,040 Comp Sale 3 $220,900 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 6 mos ago Same Same Same None 12 mos. ago Today Property characteristics Parkway Estates Same Same Same 0.30 acres Siding brick 0.30 acres Siding brick 2,290 sq. ft. 2.140 sq.ft Location Physical characteristics Site/lot size Construction quality Effective age Living area Number of baths Garage spaces Porch, patio, deck Fence, pool, etc. Economic characteristics Use Nonrealty components 0.41 acres Brick 3 years 2,349 sq. ft. 4.0 baths 2-car 250 sq. ft. None NA Same None 0.2 acres Siding 8 years 1,970 sq. ft. 3.0 baths 2-car None Pool N.A. Same None 350 sq.ft Nonc Pool . Single-family Same Actual Project Assumptions For the sales comparison approach, the analysis relies on the following set of assumptions Market conditions: 0.1 percent per month (values have increased in neighborhood). Lot size: S150,000 per acre. Construction quality: All brick is $7.000 more than all siding ($3.500 more than brick front): brick front is $3.500 more than all siding (53,500 less than all brick). Effective age: $2,000 per year. Living area: $70.00 per square foot. Porch, patio, deck area: $21.00 per square foot. Pool area: $9,000. Bath: $5,000 per full bath In addition, the following assumptions are needed to complete the sales approach with the Actual set of assumptions: Comparable Sale I. weighting: 50% Comparable Sale 2 weighting: 30% Comparable Sale 3, weighting: 20% For the cost approach, the appraisal relies on the following set of assumptions: Living area, estimated cost of reproduction: $95.00 per sq. ft. Garage, estimated cost of reproduction: 89.100. Appliances, estimated cost of reproduction: $3,800. Physical depreciation: 8% of total improvement costs. Functional obsolescence: None. External obsolescence: None. Site value, estimated: 552,000. Landscaping and other miscellaneous site improvements, current value: $6,000. Actual: In addition, the following information is available for three comparable properties. Subject Elements of Comparison Sale price of comparable Comp Sale ! $245,800 Comp Sale 2 $279,040 Comp Sale 3 $220,900 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 6 mos ago Same Same Same None 12 mos. ago Today Property characteristics Parkway Estates Same Same Same 0.30 acres Siding brick 0.30 acres Siding brick 2,290 sq. ft. 2.140 sq.ft Location Physical characteristics Site/lot size Construction quality Effective age Living area Number of baths Garage spaces Porch, patio, deck Fence, pool, etc. Economic characteristics Use Nonrealty components 0.41 acres Brick 3 years 2,349 sq. ft. 4.0 baths 2-car 250 sq. ft. None NA Same None 0.2 acres Siding 8 years 1,970 sq. ft. 3.0 baths 2-car None Pool N.A. Same None 350 sq.ft Nonc Pool . Single-family Same the total should equal out to 270000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started