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The direct comparison approach in a involves making adjustments for differences that exist between the subject property and comparable properties. With that in mind, which
The direct comparison approach in a involves making adjustments for differences that exist between the subject property and comparable properties. With that in mind, which of the following statements is (are) correct regarding making adjustments? i. If the comparable property is superior to the subject property, a minus adjustment is made to the sale price of the comparable property. ii. Adjustments to the sale prices of comparable properties are always made on the basis of the cost of a particular feature. iii. If the sale prices in the area have been declining, any time adjustments made to the sale prices of comparable properties would be a plus adjustment. iv. The most weight should always be given to the comparable property with the lowest dollar amount of total adjustments. a Only statements ii. and iv. are correct. b Only statement i. is correct. c Only statements ii. and iii. are correct. d Only statements i. and iv. are correct. Appraiser Nichols, in attempting to determine the current value of a vacant site in order to complete an appraisal, has found two similar vacant sites that have sold. If site values have increased gradually and evenly by a total of 9% over the past year, what time adjustments should be made for the two lots if one sold four months ago for $191,000 and the other sold for $178,000 six months ago (rounded to the nearest dollar)? a +$5, 730 and +$8, 010. b -$5.730 and -$5.340. c +$8.595 and $5.340. d -$8, 595 and $8, 010
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