Question
Valuation date is October 1, 2020 WHAT IS THE APPROXIMATELY VALUE OF THE PINK HOUSE HIGHLIGHTED YELLOW TODAY? DALAR purchased her GREY house about 12
Valuation date is October 1, 2020
WHAT IS THE APPROXIMATELY VALUE OF THE PINK HOUSE HIGHLIGHTED YELLOW TODAY?
DALAR purchased her GREY house about 12 months ago for $22,800.
CARSON purchased his GREEN house TODAY for $22,500 from AMIT who had to leave the country. Market participants believe he purchased the house about $15,000 below market.
JOSEPH, ERIC AND SERGIO purchased all of their homes at an auction six months ago for $60,000 (all 3 homes), since they never do anything without each other. They felt they each paid about $15,000 below market. They also each had about $1,000 of deferred maintenance, which they discovered only after living in their homes for about 2 months.
DAVID closed escrow on his residence in February 2020 right before COVID-19 hit the area. He paid $30,000 since Blue is his favorite color.
HASIBUL currently has his house for sale; the asking price is $43,500 and wants to leave, since NAJOOD plays her music too loud and he is tired of all the noise.
NATALEE purchased her house for $20,000 seven month ago but she does not occupy the house, since it is leased out to a tenant for 10 years. The cap rate was 3%.
ETHAN is operating his residence as an Airbnb and a recent guest offered him $32,000 for this house, since it is a dump and smells like fried garlic.
MATTHEW purchased his house on two years ago for $27,500, but paid $15,000 above market, because he was getting evicted from his prior location which was an apartment in Beverly Hills.
Values are increasing about $12,000 per year or $1,000 per month on average.
Homes which have frontage along the north side CORONA COURT and also have backyard exposure to TIKTOK AVENUE are inferior by $3,000 since they have slightly more noise and exposure.
Homes on LAKERS LANE are worth $3,000 more than the other streets, since the street is lined with pretty flowers and tall palm trees.
Green homes are worth $1,500 more than blue homes; blue homes are worth $1,500 more than pink homes and orange homes are worth $1,500 more than pink homes.
Investment properties are worth $5,000 less than home-occupied homes.
Based upon the local MLS, listings (properties available for sale) are typically priced $2,500 above their eventual sales price.
PLEASE FILL OUT THE EXCEL SHEET THIS IS THE WHOLE PROBLEM
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Business Finance: Theory And Practice
Authors: Eddie McLaney
6th Edition
9780273673569
