Reference no: EM133434246

Question 1. Provide a definition of the three Appraisal methodologies for (1) Sales Comparable Approach, (2) Income Approach, and (3) Cost Approach.

Question 2. Pick an apartment building which is an income producing property as your subject property. Provide the address of the property, APN and five other characteristics. Characteristics can include, year built, building square feet, number of floors, swimming pool, and etc.

Question 3. Identify three comparable properties closely related to your subject property. The comparable properties should have sold no longer than one year ago. For the three comparable properties, provide the address and the data for the same five other characteristics identified for the subject property.

Question 4.Use the Sales Comparable Approach to ascertain a value for your subject property. With this approach, use the data from Tasks 1 and 2. In your post, make an adjustment 5 by 9 Table Sales Adjustment Grid which displays columns with the following four heading: Subject Property, Comparable 1, Comparable 2, Comparable 3. The five row headings will be your five chosen characteristics. Show the numerical calculation and result of each adjustment within each rectangle. Here is an example grid.

Subject Property Comparable 1 Comparable 2 Comparable 3
Characteristic 1
Characteristic 2
Characteristic 3
Characteristic 4
Characteristic 5
Total Adjustments
Adjusted Price of
Real Property

Question 5.Use both the (1) Income Approach and (2) Cost Approach to ascertain a value for your subject property. With these approaches, use the data from question 2 and 3. In your post, show the formulas, data plugged into the formulas and final solutions for both approaches.

Question 6. FIVE paragraph report The report should contain (minimum 381 words) a (1) five sentence paragraph introduction/description of the subject property and the three comparables,
(2) five sentence paragraph summary of the results from the Sales
Comparable Approach pertaining to the subject property,
(3) five sentence paragraph summary of the results from the Income
Approach pertaining to the subject property,
(4) five sentence paragraph summary of the results from the Cost Approach
pertaining to the subject property,
(5) one paragraph conclusion summary of your final opinion of value
- In writing the last paragraph, draw from questions 1-5.