Sales-Comparison Information

Below is some information gathered to assist you in determining the value of the subject property.

Sale#

Subdivision

Age
(Years)

Size
(Sq. Ft.)

Sale Month

Baths

Garage
Spaces

Sales
Price

Subject

Golden Eagle

9

2200

12

2

2

1

Kuhn's Corner

5

1900

5

1

2

147000

2

Golden Eagle

8

2200

3

1

1

150500

3

Golden Eagle

10

2200

7

2

2

156000

4

Kuhn's Corner

1

2100

6

1

2

176900

5

Kuhn's Corner

5

1900

12

2

1

161100

6

Golden Eagle

8

1900

3

3

2

143800

7

Kuhn's Corner

1

1900

4

1

2

168300

8

Golden Eagle

4

2300

2

3

2

181900

9

Golden Eagle

6

1900

7

1

1

148000

10

Kuhn's Corner

8

1900

7

1

1

141300

Your market research has indicated the following adjustments:

Adjustment for Subdivision:  a $3000 premium is paid for Kuhn's Corners

Adjustment for Size:  Properties seem to sell for about $45 per sq. ft.

Adjustment for age:  The properties seem to depreciate in value at about 2% per year uncompounded.  Simply multiply the difference in the number of years by 2% to get the adjustment.

Adjustment for Baths:  Baths seem to be worth about $5000 more for each additional bath.

Adjustment for Garage Stalls:  Additional Garage spaces are worth about $2000 each.

Adjustment for Date of Sale:  .5% per month increase

Submit your answers in the following grid:

Remember:  always adjust the comparable sale to reflect what it would have sold for if it was exactly like the subject property!!

The "as of date" for the appraisal is December.

Last Name

First Name

Student ID Number

    Sale#

    Sales
    Price

    Subdivision

    Age
    (Years)

    Size
    (Sq. Ft.)

    Sale Month

    Baths

    Garage
    Spaces

    Adjusted
    Sales
    Price
    1

    147000

    2

    150500

    3

    156000

    4

    176900

    5

    161100

    6

    143800

    7

    168300

    8

    181900

    9

    148000

    10

    141300

    The indicated value of the subject property using this approach is:  

    Name: Project One: Sales Comparison Problem

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    Instructions:  

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    Question 1   Multiple Choice (1.0000 points)
      Question: What is the adjustment for the age difference for comparable 1?
     
        -$14,700.00
    -$11,760.00
    -$13,857.57
    $14,700.00
     

     
    Question 2   Multiple Choice (1.0000 points)
      Question: What is your adjustment for location (subdivision) for comparable #1?
     
        0
    +3000
    -3000
    -6000
     

     
    Question 3   Multiple Choice (1.0000 points)
      Question: What is the proper adjustment for the difference in size of Comparable #1?
     
        0
    -13500
    13500
    85500
     

     
    Question 4   Multiple Choice (1.0000 points)
      Question: What is the adjustment for the number of baths for comparable #1?
     
        0
    -2000
    -5000
    5000
     

     
    Question 5   Multiple Choice (1.0000 points)
      Question: What is the adjustment for the number of garage space for comparable #1?
     
        0
    -2000
    2000
    4000
     

     
    Question 6   Multiple Choice (1.0000 points)
      Question: What is the adjustment for the date of sale for comparable #1?
     
        $3,675.00
    $5,043.62
    $5,145.00
    $5,222.82
     

     
    Question 7   Multiple Choice (1.0000 points)
      Question: What is the indicated adjusted sales price for comparable sale #1?
     
        $155,784
    $155,963
    $164,500
    $168,723
     

     
    Question 8   Multiple Choice (3.0000 points)
      Question: What is the indicated value of the subject property based upon an average of the adjusted sales prices of the comparable properties? (Round your answer to the nearest $100.
     
        $150,500
    $153,300
    $156,000
    $157,500