The comparables are located in the same neighbourhood, but are not located next to any fast food restaurants. The site improvements of the three sales are considered to be equal. The time adjustment has been established at 3% per month. Marks 1. Based on the above information, estimate the market value of this property using the direct comparison approach to value. NOTE: Students should answer each of the following questions and, where appropriate, show their work by creating an adjustment chart. (a) Create a rating grid for the subject property and the comparables, indicating the adjusted sales prices for the comparables. (5 Marks) (a) Create a rating grid for the subject property and the comparables, indicating the adjusted sales prices for the comparables. (5 Marks) (b) Reconcile the adjusted sale prices into a final estimate of value. Explain your reconciliation process clearly, discussing the basis for your decision and relating your answer to the absolute and net adjustments. (4 Marks) 2. Based on the above information, estimate the market value of this property using the cost approach to value. Students should answer each of the following questions and, where appropriate, show their work by creating an adjustment chart. (a) Estimate the market value of the subject site. (1 Mark) (b) What is the estimated replacement cost new for the subject? (2 Marks) (c) Based on the Economic Age-Life Method, what would be the total depreciation for the subject? (3 Marks) (d) Estimate the external obsolescence due to the fact the subject is adjacent to a fast food restaurant? (3 Marks) (e) What is the market value of this property based on the cost approach? (2 Marks) (d) Estimate the external obsolescence due to the fact the subject is adjacent to a fast food restaurant? (3 Marks) (e) What is the market value of this property based on the cost approach? (2 Marks) 3. Write a reconciliation for the final estimate of value based on the above two approaches. (5 Marks) The comparables are located in the same neighbourhood, but are not located next to any fast food restaurants. The site improvements of the three sales are considered to be equal. The time adjustment has been established at 3% per month. Marks 1. Based on the above information, estimate the market value of this property using the direct comparison approach to value. NOTE: Students should answer each of the following questions and, where appropriate, show their work by creating an adjustment chart. (a) Create a rating grid for the subject property and the comparables, indicating the adjusted sales prices for the comparables. (5 Marks) (a) Create a rating grid for the subject property and the comparables, indicating the adjusted sales prices for the comparables. (5 Marks) (b) Reconcile the adjusted sale prices into a final estimate of value. Explain your reconciliation process clearly, discussing the basis for your decision and relating your answer to the absolute and net adjustments. (4 Marks) 2. Based on the above information, estimate the market value of this property using the cost approach to value. Students should answer each of the following questions and, where appropriate, show their work by creating an adjustment chart. (a) Estimate the market value of the subject site. (1 Mark) (b) What is the estimated replacement cost new for the subject? (2 Marks) (c) Based on the Economic Age-Life Method, what would be the total depreciation for the subject? (3 Marks) (d) Estimate the external obsolescence due to the fact the subject is adjacent to a fast food restaurant? (3 Marks) (e) What is the market value of this property based on the cost approach? (2 Marks) (d) Estimate the external obsolescence due to the fact the subject is adjacent to a fast food restaurant? (3 Marks) (e) What is the market value of this property based on the cost approach? (2 Marks) 3. Write a reconciliation for the final estimate of value based on the above two approaches