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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Question

Calculate the adjusted price of comparable property:

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

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