Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Given the following information, what adjustment would need to be made to account for the living area difference between the Subject Property and Comparable Property?
Given the following information, what adjustment would need to be made to account for the living area difference between the Subject Property and Comparable Property? Market Conditions Lot Size Effective Age (Years) Living Area (Sq. Ft) Bath Bedrooms Adjustments -0.50% (per month) $25,000 (per acre) $1,000 (per year) $45.00 (per sq. ft.) $1,250 (per bath) $3,000 (per bedroom) Time Sold Lot Size (Acres) Effective Age (Years) Living Area (Sq. Ft) Bath Bedrooms Sale Price Subject Property Today 0.83 8 2,197 3.5 4 Comparable Property 4 Months Ago 0.80 7 2,383 3.5 4 $287,000 The price of the subject property must be adjusted downward by $8,370. The price of the subject property must be adjusted upward by $8,370 The price of the comparable property must be adjusted upward by $8,370. The price of the comparable property must be adjusted downward by $8,370
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