Instructions
The requirement of this assignment is to determine an Estimated Home Value and write a short paper on the topic of Estimated Home Value. Use the data below to determine the correct estimate for the subject property. Also, refer to Chapter 10 for hints and types of adjustments to make.
Solve the following problem using the data outlined. Include a table of any adjustments you make to the sales prices of the comparable properties. Next, write a 3 page paper concerning Estimating Home Value. Include your calculations, chart, etc. in your paper. Discuss vital aspects when estimating the value of a property.
Problem: An appraiser is attempting to estimate the value of a house. The subject property has four bedrooms and a swimming pool. The appraiser has found three comparables that have recently sold:
Comparable Sales Price Bedrooms Swimming Pool
___________________________________________________
1 $110,000 5 No
2 $101,000 4 No
3 $104,000 3 Yes
The appraiser estimates that each bedroom has a worth of $10,000 and a swimming pool a worth of $15,000. Given the above information, what is the estimated value of the subject property using the average derived from the comparables?
The paper must contain
A title page-,
An Executive Summary- (On a separate page),
The body of the paper must contain-
An introductory paragraph,
The discussion and analysis of your research, using APA headings and citations where needed,
(No more than 20% of your paper should be taken from other authors).
A conclusion,
A reference page- (On a separate page).
Please note that mere copying and pasting from a website is not research, and I am aware of essay purchase websites, how to access them, and how to detect papers obtained from them. All papers are electronically checked using specialized software to see if you wrote your work. You must demonstrate original thought in your paper – a book report consisting of several pages of quoted work with no original thought will not receive credit.
