Question

A property comparable to the single-family home you are appraising sold three months ago for $453,000. You have determined that the adjustments required for differences in the comparable and subject property are as follows: Transaction Characteristics Property Rights Conveyed: none Financing Terms: none Conditions of Sale: none Expenditures Immed. After Sale: $3,000 Market Conditions (monthly, not compounded): 0.5% Property Characteristics Location: 3% Physical Characteristics: -5% Economic Characteristics: none Use: none Non-Realty Components: -$5,000 Making adjustments in the order found in Exhibit 7-6 in the textbook, what is the final adjusted sale price of the comparable?

Answer 1

Particulars	Amount
price of comparable property 3 months ago	4,53,000
After sales	9,000
market conditions	2,265
Property location characteristics	13,590
Physical characteristics	-22,650
Non realty component	-5,000
Ajusted sales price of comparable	4,50,205