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Suppose you are asked to estimate the value of a 3 bedroom, 3 bathroom house by the sales comparison approach. You have identified other houses
Suppose you are asked to estimate the value of a 3 bedroom, 3 bathroom house by the sales comparison approach. You have identified other houses that have recently sold in the area. One of these houses has 4 bedrooms and 4 bathrooms and sold for $245,000. Your research reveals that an additional bedroom adds 10000 to the value of a house in this market and that an additional bathroom adds 66000 to the value of house in this market. Based only on the first comparable property, what is the indicated value of the subject property?
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