Subject area is 1,900 sf. Which listed set contains sale areas both below and above that number?
Correct Answer
D) 1,750/1,920/2,100 sf.
Only the supplied 1,750/1,920/2,100 set spans both sides of 1,900 sf. This identifies numerical bracketing, not overall comparability or a universal requirement that every characteristic be bracketed. Verify competitive relevance and supported adjustment rates separately.
Why This Is the Correct Answer
Option D is correct because the set 1,750/1,920/2,100 sf has 1,750 sf below the 1,900 sf subject and 1,920 sf and 2,100 sf above it. It is the only listed set that spans both sides of the subject. This identifies numerical bracketing, while competitive relevance and adjustment rates still need separate support.
Why the Other Options Are Wrong
Option A: 1,550/1,600/1,650 sf.
Option A, 1,550/1,600/1,650 sf, has all three areas below the 1,900 sf subject. With nothing above 1,900 sf, the set does not bracket the subject.
Option B: 2,250/2,400/2,550 sf.
Option B, 2,250/2,400/2,550 sf, has all three areas above the 1,900 sf subject. With nothing below 1,900 sf, the set does not bracket the subject.
Option C: 3,000/3,200/3,400 sf.
Option C, 3,000/3,200/3,400 sf, has all three areas well above the 1,900 sf subject. The set lies entirely on one side and does not bracket the subject.
One below, one above
A bracket needs at least one sale on each side of the subject's number.
How to use: Use this when checking whether a set of comparables brackets the subject.
Exam Tip
For bracketing questions, compare each value to the subject's figure and look for a set with values on both sides.
Common Mistakes to Avoid
- -Picking a set where all sales fall on one side of the subject
- -Treating bracketing as proof of overall comparability
- -Assuming each characteristic must be bracketed
Concept Deep Dive
Analysis
This question tests numerical bracketing of a subject's size. Check each set for at least one area below 1,900 sf and at least one above it. Bracketing is a numerical check only and does not by itself establish overall comparability.
Background Knowledge
Bracketing means selecting comparables that fall both above and below the subject on a characteristic. It helps show the subject's value lies within the range indicated by the adjusted sales. It is a useful check, but it is not a requirement for each characteristic and does not replace comparability analysis.
Real-World Application
An appraiser selecting comparables for a 1,900 sf home chooses sales of 1,750, 1,920 and 2,100 sf. The set brackets the subject's size, and the appraiser still confirms the sales compete in the same market and supports the size adjustment rate.
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?
Using GLA $36/sf and non-market financing $10,000: a 3,100 sf comparable sold for $277,000 with non-market financing; the subject has 2,800 sf. Bath count differences are not adjusted. What is the adjusted price?
Using garage $3,500 per car and pool/spa $12,500: a comparable with a 2-car garage and a pool/spa sold for $268,000. The subject has a 3-car garage and no pool. What is the adjusted price?
Using GLA $36/sf, garage $3,500 per car and pool/spa $12,500: a 2,600 sf comparable with a 2-car garage and a pool/spa sold for $264,000. The subject is 2,800 sf with a 3-car garage and no pool. What is the adjusted price?
In a neighborhood with declining values and marketing times over six months, what must Fannie Mae lenders confirm about the sales comparison analysis?
A house is a 4,000 square foot home in an area of 2,000 square foot homes. How must the appraiser treat this over-improvement in the sales comparison grid?
According to the Interagency Appraisal and Evaluation Guidelines, which items should an appraisal’s market conditions discussion include?
A comparable listed at $420,000 and sold for $399,000. What sale-to-list price ratio (sale price ÷ list price) does this indicate?
An appraiser wants to describe the neighborhood boundaries in a Fannie Mae report. Which approach is acceptable?
Which of these is listed by Fannie Mae as a sales or financing concession?
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