Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You are appraising a single lot on B Street as indicated below. Your research reveals a number of sales of other lots in the general

image text in transcribed

image text in transcribed

You are appraising a single lot on B Street as indicated below. Your research reveals a number of sales of other lots in the general area, all with liberal zoning permitting a wide variety of uses. Sale 1 just sold for $44,800, to be developed with a small retail building. Sale 2 was transacted six months ago, for $52,000, and was developed with a small dentist's office. Sale 3 was recently purchased for $58,000, and had a small building that required demolition at a cost of $3,000. Sale 4 was purchased $60,000, as the last parcel to be assembled together with Sale 8 and Sale 9. Sale 5 sold one year ago for $40,000, and remains vacant due to a pending a special use permit application. Sale 6 was purchased six months ago for $35,000, but had an environmental problem. Sale 7 was purchased six months ago for $55,000. A Street Sale 2 Sale 4 Sale 8 Sale 9 Subject Sale 5 B Street Sale 1 D Street C Street Sale 6 Sale 3 Sale 7 A. What appears to be an appreciation rate? Answer must be in a % Per Month B. How much more are corner lots worth? Answer must be in a $ figure C. How much more are the lots along B Street than the lots along D Street? Answer must be in a $ figure D. Along which street are lots worth more? E. What is the value of the subject property? Each answer point is worth 10 Points

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Populists Plungers And Progressives

Authors: Cedric B. Cowing

1st Edition

0691621993, 978-0691621999

More Books

Students also viewed these Finance questions