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A house is being appraised using the sales comparison approach. The house has four bedrooms, three bathrooms, and no pool. The appraiser selects a comparable house that has three bedrooms, three bathrooms, and a pool. The comparable house just sold for $280,000. A bedroom is valued at $18,000, and a pool at $15,000. Assuming all else is equal, what is the adjusted value of the comparable?

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abiolataiwo2015

Answer:

$283,000

Explanation:

Calculation to determine the adjusted value of the comparable

Using this formula

Adjusted value of the comparable= Comparable houseValue +Bedroom value- Pool value

Let plug in the formula

Adjusted value of the comparable=$280,000+$18,000-$15,000

Adjusted value of the comparable=$283,000

Therefore the adjusted value of the comparable is $283,000

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