Appraisal - Sales Comp Flashcards
Financing concessions
adjusted using an extracted dollar amount from factual market data, which is a quantitative technique.
Financing Concessions-comp
no effect on the sale price of the subject property
Gross Adjustment
the dollar total of all adjustments applied to a comparable
Ranking and Weighting Technique
100 % of of the final value is distributed over 4 sales. 173,500x0.20 + 169,500x0.25 + 195,00 x0.15 + 181,200 x 0.40 = 178,805
Adjustment
Market condition
- Financing 2. Condition of Sale 3.Market Condition
adjustment is made when market trends indicate that an adjustment is warranted;adjustment is in %
Older Property, Owner occupied
Collect recent sales data
Not Unit of Comparison
Listing price
Comparable Data
Must first be brought to CURRENT market conditions.
Market change per month (9 month) 0.1%x9=0.9%
+ sold price for a comparable price and adjustment
Highest & Best Use must be the same as SUBJECT
Mean of Factors
Example: Factor #1 -29%, Factor #2 -37%
-29+(-37)/2 = -33
Comp sold $240,000 x -33%=-79,000
Adjusted $ $240,000-79,000=161,000
Market Intelligence
市場情報
Market knowledge and intelligence learned from analysis of data prompts the appraiser to apply an adjustment for a specific property feature
Adjustment - Financing
cash equivalency
Advantages of Sales Comp
deeply rooted in market activity
Percentage Adjustment
Derived from Dollar amount to percentage
Adjustment
Condition of Sale
Personal property
Concession
Physical characteristic
Functional Utility
