Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Assume that you are in the market to buy a carraige house. You see a house that you like and it measures 5,300SF. The owner
Assume that you are in the market to buy a carraige house. You see a house that you like and it measures 5,300SF. The owner wants you to make her an offer and you are trying to come up with a fair estimate of its value. You find the following information related to recent sales of comparable carraige houses: A sold for $5.2M and measured 5,100 SF; B sold for $5.7M and measured 5,200 SF; C sold for $5,65M and measured 4,900SF; D sold for $5.2M and measured 5,300 SF; and E sold for $4.9M and measured 4,800 SF. Using the average sales price / SF of this comp set, what is a fair estimate of the house that you like? $5.587M$6.98M$5.66M$5.25M
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