You are tasked with appraising a home. You decide to carry out a comparison approach and select two semi-recent sales for comparison. All transaction characteristics are identical except the buyer of comp 1 was aware they needed to make immediate repairs to the heating system after purchase at a cost of $8,000. Market conditions for the area suggest 0.3% per month increase in value. An incremental square foot of lot size is worth $25 per square foot and $75 per square foot for living area. An additional bath is worth $700. All homes have the same garage space and decks. A pool is worth $5000. Each additional year of effective age reduces a propertys value by $3000. Characteristic information can be found below for the subject property and the three comparable properties.

Complete an adjustment grid IN EXCEL for the comparable properties similar to the example from class. Be sure that I can see your calculations within the cells where applicable. What is the final adjusted sale price for each of the comparables? Choose weights for each comparable and calculate a weighted sale price for the subject property. Provide reasoning for the weights you choose.

Elements	Subject	Comp 1	Comp 2
Sale price of comparable		$400,000	$420,000
Transaction Characteristics
Property rights conveyed	Fee simple	Same	Same
Financing terms	Conventional	Same	Same
Conditions of sale	Arms length	Same	Same
Expenditures immed. after purchase		$8,000	None
Market conditions	today	4 months ago	8 months ago
Property Characteristics
Location	Mansfield	Mansfield	Mansfield
Site/lot size	5000 sqft	5100 sqft	5150 sqft
Construction quality	Typical	Typical	Typical
Condition	Average	Average	Average
Effective age	6 years	7 years	9 years
Living area	2500	2400	2600
Number of baths	2.5	3	3.5
fence, pool, etc	Pool	None	Pool
Economic characteristics	NA	NA	NA
Use	Single family	Same	Same
Nonrealty components	None	None	None