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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
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
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