A comparable sold for $310,000. Relative to the subject, it has an extra garage contribution of $12,000 and lacks a deck worth $5,000. These are supported current-dollar differences. What adjusted price results?
Correct Answer
B) $303,000
310000 − 12000 + 5000 = 303000. Common errors: adding the garage adjustment instead of subtracting it gives $327,000; subtracting the deck adjustment instead of adding it gives $293,000; reversing both adjustment signs gives $317,000.
Why This Is the Correct Answer
310000 − 12000 + 5000 = 303000. Common errors: adding the garage adjustment instead of subtracting it gives $327,000; subtracting the deck adjustment instead of adding it gives $293,000; reversing both adjustment signs gives $317,000.
More Sales Comparison Questions
Supported adjustments are: non-market financing $10,000, GLA $36/sf, garage $3,500 per car, pool/spa $12,500. A comparable identical to the 2,800 sf subject sold for $267,000 with non-market financing. What is its adjusted price?
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Previous Question
A home with a fireplace sold for $420,240. An otherwise identical home without one sold four months earlier for $412,000. The market rose a supported 0.5% per month (simple) over that period. After adjusting for market conditions, what does this pair indicate for the fireplace?
Next Question
The grid for a comparable with a cash-equivalent price of $517,500 shows current-dollar adjustments of +$9,500, −$14,000, +$6,250, and −$2,750. No other adjustments apply. What is the adjusted price?