A Florida licensee preparing a CMA has three adjusted comparable sale prices: $325,000, $332,000, and $338,000. What is the average adjusted indication?
Correct Answer
C) $331,666.67
Average the three adjusted indications: ($325,000 + $332,000 + $338,000) ÷ 3 = $331,666.67. A CMA is not an appraisal, but this arithmetic is still proper.
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Previous Question
A Florida appraiser is valuing a unique waterfront mansion in Palm Beach with no recent comparable sales. The property generates rental income of $25,000 per month and has historical significance. Which combination of appraisal approaches would be most appropriate for this assignment?
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A Florida broker prepares a CMA using a comparable that sold for $390,000 and contains 2,000 square feet. If the subject contains 2,050 square feet and the broker applies the comparable's price per square foot to the subject, what indicated value results?