The subject has 2.5 bathrooms and a comparable has 2.0. This market supports $9,000 for a full bath and $4,500 for a half bath. What adjustment applies to the comparable?
Correct Answer
C) +$4,500
Why this is correct: the difference is one half bath, and the comparable lacks it. Calculation: +$4,500. Why the other choices are wrong: -$4,500 adjusts in the wrong direction; +$9,000 pays the full-bath rate for a half bath; +$13,500 adds a full bath and a half bath when only the half is missing.
Why This Is the Correct Answer
Why this is correct: the difference is one half bath, and the comparable lacks it. Calculation: +$4,500. Why the other choices are wrong: -$4,500 adjusts in the wrong direction; +$9,000 pays the full-bath rate for a half bath; +$13,500 adds a full bath and a half bath when only the half is missing.
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Three comparables produce adjusted indications of $292,000, $298,000 and $305,000. The appraiser concludes a value of $310,000. What is the problem?
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A comparable closed at $305,000, which included $5,000 in seller-paid concessions. The dwelling contains 2,000 square feet. What price per square foot should be carried into the analysis?