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The Relative Comparison Analysis is similar to paired data analysis without the use of arbitrary or <br />unsupportable quantitative adjustments. This technique acknowledges the imperfect nature of the subject <br />real estate market. The primary objective is to bracket the subject property between the comparable sales <br />with respect to the similarity, superiority, and inferiority thereof. Superior elements of comparability of an <br />individual sale property would reflect a downward adjustment to the value indication thereof. Conversely, <br />inferior elements suggest an upward adjustment. <br />Additionally, it is important to note that the above elements of comparability were not assigned equal <br />weight in making the analysis of each property. The immediate environmental influences, land area, <br />effective dwelling age/condition, overall construction quality, dwelling size, number of <br />bedrooms/bathrooms, parking capacity/type, and extent of other on-site improvements were considered the <br />most important factors in the subject case, <br />Overall marketability of each sale property was also considered. Marketability is the practical aspect of <br />selling a properly in view of all the elements constituting value, and certain economic and financing <br />conditions prevailing as of the date of sale. Allowance was made for these factors when considered <br />applicable. <br />All of the sale transactions employed herein were considered helpful in the valuation analysis of the subject <br />property. Following is a summary relating the overall comparability of the individual sale properties to the <br />subject site: <br />Overall <br />Data <br />Comparability <br />Sale Price <br />6 <br />inferior <br />$475,000. <br />2 <br />inferior <br />$475,000. <br />4 <br />similar <br />$480,000. <br />1 <br />similar <br />$495,000. <br />Subject <br />- - - - <br />$500,000. <br />similar $505,000. <br />similar $508,000. <br />Based on the foregoing, the value of the subject property, as indicated by the Sales Comparison Approach, <br />is estimated at $500,000, which reflects $60.42 per square foot of land area, and $496.03 per square foot of <br />dwelling area. <br />Final Estimate of Market 'Value: <br />Based on (1) an analysis of the various sale properties, (2) the overall condition, quality, and features of the <br />subject property, and (3) current real estate market conditions in the general market area, the market value <br />of the subject property in as -is condition, as of the date of value set forth herein, is estimated at $500,000. <br />75P-20 <br />