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THE NEXT FIVE (5) QUESTIONS ARE BASED ON THE FOLLOWING CASE STUDY: In estimating the market value of a single-family dwelling, you analyze 12 sales and list the following features with respect to each property. Comparable to subject except that the sale has central $280,000 air conditioning $272,900 $276,400 $269,000 $270,000 Current One year ago 6 months ago Current Current Current Similar to Sale1 Similar to Sale 2 Similar to Sale 1 except in a poorer location Similar to Sale 4 Similar to Sale 1 except it has a detached garage $293,000whereas Sale 1 has no garage Similar to Sale 6 Similar to Sale 1, except it has wood siding and Sale 1 7 6 months ago $289,200 Current Current Current One year ago $265,000 has brick $266,000Similar to Sale 8 $273,000 Similar to Sale 1, except that it has no central air $273,000 Similar to Sale 10 $271.000 10 Similar to Sale 6 except it has wood siding instead of brick 12 Using two sets of paired sales analysis, answer the following five questions. Hint: for instance, when trying to find the adjustment for air conditioning, you need to find a sale conditioning and one without. The difference with air between the two comparables should indicate the market in For rachadustment, two or more sets of pairings should be used to support

Current $293.000 ar to Sale 1 axcopt it has a detached whereas Sale 1 has no garage 76 months ago $289,200 Similar to Sale 6 Similar to Sale 1 1, oxcopt it has wood siding and Salo 1 Current Current Current Current One year ago $265,000 has brick $266,000 Similar to Sale 8 $273,000 Similar to Sale 1, except that it has no central air $273,000 Similar to Sale 10 10 12 $271,000 Similar to Sale 6, except it has wood siding Instead of brick Using two sets of paired sales analysis, answer the following five questions Hint: for instance, when trying to find the adjustment for air conditioning, you need to find a sale with air conditioning and one without. The difference between the two comparables should indicate the market value of the air conditioning. For each adjustment, two or more sets of pairings should be used to support your findings as one set of pairings may not be a true example of market behavior. What is the annual percentage change to be used for the market condition adjustment? (1) 2.6% (2) 2.2% (3) 1.3% (4) 3.6% 6. What is the dollar adjustment for air conditioning? (1) $8,000 (2) $7,000 (3) $6,000 (4) $9,000 7.

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Please answer all 5. Thanks

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Answer #1

Q6. Annual % change for market condition 2.6%, option 1.

Consider sale item number 1 and 2. 280000-272900/ 272900 *100 = 2.6%

Q7. Answer is option 2 i.e. Dollar adjustment is 7000 as with AC the property sold at 280000 (sales item no. 1) and without it at 273000 (sale item no. 10, 11). So the difference is 7000

Q8. If wood siding is present instead of brick:

Answer is option 3 i.e. -$15000. Property with brick is at 280000(Sale item no 1) and with wood is at (Sale item no. 8 and 9) 265000,266000

Q9. Answer is 1 i.e. -$10500. In good location property sold at 280000 (sales item no. 1) and property in poor location (sale item no. 4 and 5) is sold at 269000 and 270000, so average of differences of both properties from sale item no 1 will be deducted from the subject.

Q10 the right option is 3. That is sale item no. 1, 3 and 8 as they do not have detached garage feature.

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