Question
In a recent appraisal of a 3-bedroom home in a good location, the appraiser has analyzed three comparable sales. A summary follows: Data Comparable #1
In a recent appraisal of a 3-bedroom home in a good location, the appraiser has analyzed three comparable sales. A summary follows: Data Comparable #1 Comparable #2 Comparable #3 Price Paid $250,000 $225,000 $295,000 Location Inferior Similar Superior Lot Size Larger than subject Smaller than subject Larger than subject Amenities & Condition Equal to subject Superior to subject Superior to subject Dollar adjustments indicated by market study: Location difference = $30,000; Lot size difference = $25,000; Amenities and condition difference = $10,000 Relying upon the comparables and the adjustments indicated, determine a reasonable value conclusion for the subject property and explain why you chose that value? Please show work and explain how to solve, thank you
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