quiz 2 - questions

# quiz 2 - questions - Spring 2008 University of Colorado at...

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Spring 2008 University of Colorado at Boulder Leeds School of Business Real Estate 3000: Principles of Real Estate Practice Quiz 2 Practice Questions The practice questions do not cover all materials that Quiz 2 will cover. You still need to study the textbook and lecture slides to hopefully do well in this quiz. Use the following information to answer questions 1 to 4 Market value Size Near highway Quality Subject ? 2,000 Yes Good Comparable A \$330,000 3,000 No Good Comparable B \$280,000 3,000 No Average Comparable C \$250,000 3,000 Yes Average Comparable D \$280,000 2,000 No Good 1. The value difference caused by the quality difference (good versus average) is Solution: \$50,000 2. The value difference caused by the distance to free ways (adjacent to versus not adjacent to a free way) is Solution: \$30,000 3. The value difference caused by the different square footage (3,000 square feet versus 2,000 square feet) is Solution: \$50,000 4. Based on your answers to questions 1 to 3 and using the sales comparison approach, starting with any of the comparables, the appraisal value for the subject property now is (you will get the same answer by choosing any of the comparables as your staring point) Solution: \$250,000 5. An investor signed a contract to receive a \$200,000 payment for the sale of his

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## This note was uploaded on 04/23/2008 for the course REAL 3000 taught by Professor Peng,liang during the Spring '08 term at Colorado.

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quiz 2 - questions - Spring 2008 University of Colorado at...

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