Laserfiche WebLink
ATTACHMENT <br />characteristics of a comparable property are inferior, superior, or similar to those of the <br />property under appraisement. <br />The Relative Comparison Analysis is similar to paired data analysis without the use of <br />arbitrary or unsupportable quantitative adjustments. This technique acknowledges the <br />imperfect nature of the subject real estate market. The primary objective is to bracket <br />the subject property between the comparable sales with respect to the similarity, <br />superiority, and inferiority thereof. Superior elements of comparability of an individual <br />sale property would reflect a downward adjustment to the value indication thereof. <br />Conversely, inferior elements suggest an upward adjustment. <br />Additionally, it is important to note that the above elements of comparability were not <br />assigned equal weight in making the analysis of each property. The immediate <br />environmental influences, land area, effective dwelling age/condition, overall <br />construction quality, dwelling size, number of bedrooms/bathrooms, parking <br />capacity/type, and extent of other on-site improvements were considered the most <br />important factors in the subject case. <br />Overall marketability of each sale property was also considered. Marketability is the <br />practical aspect of selling a property in view of all the elements constituting value, and <br />certain economic and financing conditions prevailing as of the date of sale. Allowance <br />was made for these factors when considered applicable. <br />All of the sale transactions employed herein were considered helpful in the valuation <br />analysis of the subject property. Following is a summary relating the overall <br />comparability of the individual sale properties to the subject site: <br />Based on the foregoing, the value of the subject property, as indicated by the Sales <br />Comparison Approach, is estimated at $460,000, which reflects $70.40 per square foot <br />of land area, and $351.68 per square foot of dwelling area. <br />75F-29 <br />Overall <br />Data <br />Comparability <br />Sale Price <br />1 <br />inferior <br />$405,000. <br />5 <br />inferior <br />$418,000. <br />2 <br />inferior <br />$425,000. <br />Subject <br />- - - - <br />$460,000. <br />3 <br />similar <br />$479,000. <br />4 <br />superior <br />$491,000. <br />6 <br />superior <br />$530,000. <br />Based on the foregoing, the value of the subject property, as indicated by the Sales <br />Comparison Approach, is estimated at $460,000, which reflects $70.40 per square foot <br />of land area, and $351.68 per square foot of dwelling area. <br />75F-29 <br />