You have been asked to use the sales comparison approach to determine the market value of a single-family residence that is in a high crime area. The house has 2 bathrooms and a pool. To perform your analysis you have obtained the following comparables:
Comparable 1: Located in a low crime area with 2 bathrooms and no pool. Recently sold for $170,000.
Comparable 2: Located in a low crime area with 3 bathrooms and no pool. Recently sold for $185,000.
Comparable 3: Located in a high crime area with 3 bathrooms and no pool. Recently sold for $135,000.
Comparable 4: Located in a low crime area with 2 bathrooms and a pool. Recently sold for $180,000.
What is the value of the subject property?
a. $120,000b. $130,000c. $135,000d. $140,000e. None of the above (show work)
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You have been asked to use the sales comparison approach to determine the market value of a single-family residence that is in a high crime ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Government may hold down the price of apartments with
Answers (1)
In an episode of the Glee television series, members of the glee club sold home-baked cupcakes at school to raise money. The students selling their cupcakes to classmates would be an example of
Answers (1)
Suppose an economy experiences an expansion caused by a shift in aggregate demand to the right. This economy transition back to its long-run equilibrium as the expected price level Group of answer choices falls, shifting aggregate supply right.
Answers (1)
A change in which variable will change the market demand for a product? A. technology B. population C. the prices of substitutes in production D. the price of the product:uizlet
Answers (1)
Which of the following is true? A Debit cards offer the highest level of fraud protection. B Checks are the most widely accepted form of payment C Checks and Debit Cards both withdraw money directly from a bank account.
Answers (1)
New Questions in Business
The Nolan Corporation finds it is necessary to determine its marginal cost of capital. Nolan's current capital structure calls for 30 percent debt, 20 percent preferred stock, and 50 percent common equity.
Answers (1)
Gaston owns equipment that cost $17,000 with accumulated depreciation of $3,400. Gaston sells the equipment for $12,200.
Answers (1)
If the supply of loanable funds exceeds the demand then borrowers will bid up the interst rate. True / False.
Answers (1)
The scientific method begins with A. the development of a formal hypothesis. B. the gathering of information. C. the identification of a problem for investigation. D. methodical observation of a phenomenon of interest.
Answers (1)
Charles loves watching downton abbey on his local public tv station, but he never sends any money to support the station during its fundraising drives. economists would call charles afree rider.
Answers (1)