Which comparable has the lowest gross adjustment percentage?
Correct Answer
D) Net adjustment +3%, gross adjustment 6%
The listed gross percentages are 22%,9%,30% and 6%;6% is the smallest. Net percentages can be small because positive and negative changes offset. This numerical comparison alone does not establish which sale is most reliable, and Fannie Mae sets no universal numerical gross/net adjustment limit. Consider data and adjustment support rather than an automatic lowest-gross weighting rule.
Why This Is the Correct Answer
The listed gross percentages are 22%,9%,30% and 6%;6% is the smallest. Net percentages can be small because positive and negative changes offset. This numerical comparison alone does not establish which sale is most reliable, and Fannie Mae sets no universal numerical gross/net adjustment limit. Consider data and adjustment support rather than an automatic lowest-gross weighting rule.
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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Previous Question
A verified pair of cash-equivalent sales in the same market has the superior covered front porch at $582,000 and a matched property lacking it at $558,000. Rights, terms, time and other material characteristics are matched. A suitable comparable sold for $570,000. The subject is inferior in this same feature; the comparable is superior. Assume the observed contribution applies and no other adjustments. What signed covered front porch adjustment and adjusted comparable price result?
Next Question
A comparable sale of $412,000 is rated against a 1,600-square-foot ranch subject as follows: location similar, site similar, gross living area inferior (1,450 square feet), condition inferior, garage similar. What does this relative comparison indicate about the subject's value?