Answered step by step
Verified Expert Solution
Question
1 Approved Answer
what is the answer? real estate finance Question completion Status Jenna Jones has applied for a mortage loan from the Bank of Mississippi. The bank
what is the answer? real estate finance
Question completion Status Jenna Jones has applied for a mortage loan from the Bank of Mississippi. The bank requested from you an appraisal of the property using the sales comparison approach (4 P. Subject Elements of Comparison Comp Sale 1 Comp Sale 3 Comp Sale 2 Physical Characteristics 0.55 Site Lotze (Acres 0.65 0.45 0.60 Siding Construction Quality Siding Brick Brick Siding 6 3 10 12 fective age(Years 2200 1960 Living Area (Square Foot 2100 1800 Number of Baths 2.5 25 2.5 3 Garage Spaces 2 3 2 2 Porch Patio Deck (Square Feet) None None 240 Fence. Poole None None Pool Pool Economics Characterisitos NA NA NA Use Single-family Same Same Same Nonrealty Components None None None 200 NA Now To adjust the price of each comparable property, use the following adjustment suggested by the appraiser 1. Lotsin 2. Construction quality 3. Effective ago: 4. Living area 5. Bath 6. Garage 7 Porch, patio, deck area: 8. Pool $75,000 per more $0 Siding $2,500 Siding Brick $5,000 Brick $2,500 per year $75 per square foot $5,000 per bath 10,000 per space $20 per square foot $10,000 per pool Bath 6. Garage 7. Porch, patio, deck arca: & Pool 10,000 per space $20 per square foot $10,000 per pool Comparable 3 Comparable 2 Comparable 1 I need you to in this grid for the appraisal Elements of Comparison Subject Property Adjustments for Location Physical Characteristics Site Construction quality Effective age Living area Baths Garage Porch, patio, deck Fence, pool, etc In the space below, fill in the values with the appropriate sign (4/4) that would adjust our comparable properties. Note, you do not have a table in your answer space, so please list them in the order below, and place the appropriate sign prior to the number including subject Example 1. 0:+500:-1000, +1500 2.0: -250, 500, 500 For the toolbar, press ALT F10 (PC) O ALT-EN-F10 (Mac) Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started