I am only looking for people who give me some type of "proof" of their competency with regards to Real Estate value, so don't message me or try to handshake unless you can do that. PM even and we can talk. I would need it in about 12-14 hours. The response needs to be detailed and includes a line by line of what is going on to get to whatever number has been gotten too...
The requirement of this assignment is to determine an Estimated Home Value. Use the data below to determine the correct estimate for the subject property. Also, refer to Chapter 10 for hints and types of adjustments to make. (Fundamentals of Real Estate)
Solve the following problem using the data outlined. Include a table of any adjustments you make to the sales prices of the comparable properties.
Problem: An appraiser is attempting to estimate the value of a house. The subject property has four bedrooms and a swimming pool. The appraiser has found three comparables that have recently sold:
Comparable Sales Price Bedrooms Swimming Pool
___________________________________________________
1 $110,000 5 No
2 $101,000 4 No
3 $104,000 3 Yes
The appraiser estimates that each bedroom has a worth of $10,000 and a swimming pool a worth of $15,000. Given the above information, what is the estimated value of the subject property using the average derived from the comparables?