What is the estimated market value of a property that 3,500 sq. ft. and is adjacent to the freeway? Comparable Sales: One year ago a 2,600 sq. ft. property not adjacent to freeway sold for $250,000. This year a 2,600 sq. ft. property not adjacent to freeway sold for $325,000. A 3,500 sq. ft. property not adjacent to the freeway sold 1 year ago for $275,000. A 2,600 sq. ft. property sold this year for $300,000. Located adjacent to the freeway

What is the estimated market value of a property that 3,500 sq. ft. and is adjacent to the freeway? Comparable Sales: One year ago a 2,600 sq. ft. property not adjacent to freeway sold for $250,000. This year a 2,600 sq. ft. property not adjacent to freeway sold for $325,000. A 3,500 sq. ft. property not adjacent to the freeway sold 1 year ago for $275,000. A 2,600 sq. ft. property sold this year for $300,000. Located adjacent to the freeway

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Description: What is the estimated market value of a property that 3,500 sq. ft. and is adjacent to the freeway? Comparable Sales: One year ago a 2,600 sq. ft. property not adjacent to freeway sold for $250,000. This year a 2,600 sq. ft. property not adjacent to

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter10: Property, Plant And Equipment: Acquisition And Subsequent Investments

Section: Chapter Questions

Problem 3RE: Utica Corporation paid 360,000 to purchase land and a building. An appraisal showed that the land is...

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You are appraising a property located adjacent to a high speed freeway. Total area of the property is 2,400 sq. ft. Information on four comparable sales: (1) A year ago a 2,400 sq. ft. property not adjacent to freeway sold for $195,000. (2) A 2,800 sq. ft. property sold this year for $215,000. It is located adjacent to the freeway. (3) A year ago a 2,800 sq. ft. property not adjacent to freeway sold for $220,000. (4) A 2,800 sq. ft. property adjacent to the freeway sold a year ago for $200,000. What is the value of the adjustment factor for location and what is the estimated market value of the property under consideration?
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