Question
Problem: An appraiser is attempting to estimate the value of a house. The subject property has four bedrooms and a swimming pool. The appraiser has
Problem:An appraiser is attempting to estimate the value of a house. The subject property has four bedrooms and a swimming pool. The appraiser has found three comparable listings that have recently sold:
Comparable Sales Price Bedrooms Swimming Pool
___________________________________________________
1 $310,0005No
2 $301,0004No
3 $334,0003Yes
The appraiser estimates that each bedroom has a worth of $12,000 and a swimming pool a worth of $25,000. Given the above information, what is the estimated value of the subject property using the average derived from the comparables?
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