Question

You have been asked to prepare a valuation of a residential property. The subject property is a house that is 1,200 square feet and is NOT located in a gated community. Below are four comparables that you have identified that fit the subject property 1. A 1,500 square foot house was sold one year ago for $300,000. It is located in a gated community. 2. A 1,500 square foot house was recently sold for $285,000 and is located in a gated community. 3. A 1,200 square foot house was sold one year ago for $270,000 and is located in a gated community. 4. A 1,500 square foot house was recently sold for $280,000 and is NOT located in a gated community. An adjustment for size (-$30,000) was made. Which two comparables contributed to the adjustment? a. Comparables 1 and 2 b. Comparables 2 and 3 c. Comparables 1 and 3 d. Comparables 2 and 4 e. Comparables 3 and 4 f. Comparables 1 and 4

Answer 1

Check the explanation

Step-by-step explanation:

Comparables 1 and 2 have assisted us in making 15000 dollar adjustment for 1 year.

since in condition 1 and 2 all conditions are the same except the year of sale, and we can deduce by using 300,000 and 285,000 prices we subtract these to get the15,000 adjustment for a year.