8.A comparable property sold 10 months ago for $98,500. If the appropriate adjustment for market conditions is 0.30% per month (without compounding), what would be the adjusted price of the comparable property? 9.A comparable property sold six moths ago for $150,000. The adjustments for the various elements of comparison have been calculated as follows: Location: -5 percent Market conditions: +8 percent Physical characteristics: +$12,500 Financing terms: -$2,600 Conditions of sale: 0 Legal characteristics: 0 Use: 0
3 Nonrealty items: -$3,000 (Note that the term “Legal characteristics” should be replaced with the term “property rights conveyed”) Making the adjustments in the order suggested in Exhibit 7-6, what is the comparable’s final adjusted sale price/indication of the subject’s value? 10.A property comparable to the single-family home you are appraising sold 3 months ago for $450,700. You have determined that the adjustments required for differences in the comparable and subject property are as follows: Elements of ComparisonRequired AdjustmentTransaction characteristicsProperty rights conveyedNoneFinancing termsNoneConditions of saleNoneExpenditures immed. after purchase$3,000Market conditions0.50% /month, compoundedProperty characteristicsLocation+3%Physical characteristics:‐5%Economics characteristicsN.A.UseNoneNon-realty components$5,000What is the final adjusted price (indication of the subject’s value) for the comparable?