Given the following information, determine the final appraisal value of the subject property. Use the "SIMPLE INTEREST" method to calculate the time adjustment. Market conditions Lot size Effective age (years) Living area (sq. ft) Bath Bedrooms Time sold Lot size (acres) Effective age (years) Living area (sq. ft) Bath Bedrooms Sale price Subject Property Today 0.64 4 2,723 4 4 ??? Adjustments 0.62% (per month) $30,794 (per acre) $1,527 (per year) $45.00 (per sq. ft.) $1,165 (per bath) $3,143 (per bedroom) Comparable Property 12 months ago 1.69 5 2,507 3 6 $428,729

Given the following information, determine the final appraisal value of the subject property. Use the "SIMPLE INTEREST" method to calculate the time adjustment. Market conditions Lot size Effective age (years) Living area (sq. ft) Bath Bedrooms Time sold Lot size (acres) Effective age (years) Living area (sq. ft) Bath Bedrooms Sale price Subject Property Today 0.64 4 2,723 4 4 ??? Adjustments 0.62% (per month) $30,794 (per acre) $1,527 (per year) $45.00 (per sq. ft.) $1,165 (per bath) $3,143 (per bedroom) Comparable Property 12 months ago 1.69 5 2,507 3 6 $428,729

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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