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Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address
Sales Price
Date of Sale
Time Adjustment Sale Terms & Conditions
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location
Sq. Ft. of Living Area Age
Type/Quality Construction Design & Appeal Condition
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms
No. of Bedrooms No. of Baths
Functional Utility Air Conditioning Garage / Carport
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool Basement
Fireplace
Items Energy Efficient Landscaping
Other / Fence
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments Sales Price
Less Adjustments Adjusted Sales Price
Market Analysis Adjustment Worksheet – Form 9-2
Correlation: Indicated Value % Weight Comparable - $__________ x ____% = $__________ Comparable - $__________ x ____% = $__________ Comparable - $__________ x ____% = $__________
Estimate Value by Market Data Approach: $__________ Rounded to: $__________
Student Exercise #1 PRICING PROPERTY
Click to Open and Complete the Interactive PDF
EXERCISE #1 – Pricing Property Complete the following Market Analysis Adjustment Worksheet
based on the information provided. Subject Property: • 1000 Longleaf Court, located in Falling Pines subdivision. • 10-year old, 2-story frame construction in good condition. • Square Footage = approx. 2,500 square feet gross living area. Basement 800 square
feet, unfinished. • Total rooms = 8: 4 bedrooms, 2½ baths, separate dining room, family room with
fireplace and pull down stairs to attic storage. • Central air conditioning and forced air, gas heat and average energy efficient items. • Attached 2-car garage and screen porch. • Landscaping is considered average for this community. • Overall functional utility of the floor plan and property is also considered average.
EXERCISE #1 – Pricing Property The following 3 properties are in the subject’s subdivision, considered to be in a good location. Each has sold within the last 6 months and is comparable to the subject property. Each has good functional utility, average design, average curb appeal, central heat and air, as well as average energy efficient items. All of the buyers obtained a conventional loan for the purchase and paid all of their own costs. 1. 1005 Longleaf Court 2. 2121 Short Needle Drive 3. 1449 Resin Circle
EXERCISE #1 – Pricing Property 1005 Longleaf Court
• This 10-year old, brick-front home is located on the same street. • 2,500 square feet. • Same floor plan as the Subject Property, with the same number of bedrooms,
bathrooms and overall features. • Property is built on a slab and has a 2-car attached garage, wood deck, fenced yard
and average maintenance. • The property is in good overall condition with no noticeable maintenance required and
average landscaping. • This is a current sale (26 days ago) and sold for $172,000.
EXERCISE #1 – Pricing Property 2121 Short Needle Drive
• Located in the same subdivision as the Subject Property • 8-year old, 2,280 square feet, 2-story home is of frame construction with a brick front.
Overall, in good condition. • The 8 room home consists of 4 bedrooms, 2½ baths, living room, dining room, family
room with fireplace and pull down attic storage. • The basement is 650 square feet of unfinished space. • The property has central air conditioning and forced air, gas heat, a 2-car attached
garage and a screen porch. • The landscaping is of average quality. • The property is a current sale having sold 89 days ago for $178,900.
EXERCISE #1 – Pricing Property 1449 Resin Circle
• Located in the same subdivision, this 2-story 9 year old home is of frame construction
and in good condition. • The gross living area has 2,700 square feet • Consists of 8 rooms; including 4 bedrooms, 3 baths, living room, dining room, family
room with fireplace, pull down attic storage and a 2-car attached garage. • The basement is 975 square feet and is not finished. • The backyard is landscaped comparatively to the other homes in the neighborhood, is
fenced with a wood deck and built-in hot tub. • 45 days ago the property sold for $192,500 and is considered a current sale.
EXERCISE #1 – Pricing Property Broker Recommended Adjustments for an Average Quality Home in this Market
• Square Footage: $25 per square foot • Basement: $12 per square foot • Brick Front: $4,500 • Full Bath $4,000 • Half Bath: $2,000 • Screen Porch: $3,000 • Wood Deck: $2,000 • Hot Tub: $2,000 • Fence: $2,500
NOTE: Use the “Porches, Patio, Pool” category on the Market Analysis Adjustment Worksheet to make adjustment for a hot tub. Use the “Other” category to make adjustments for a fence.
EXERCISE #1 – Pricing Property Assign
• 30% of value to comparable #1 • 50% of value to comparable #2 • 20% of value to comparable #3
Student Exercise #1 PRICING PROPERTY
Click to Open and Complete the Interactive PDF
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address
Sales Price
Date of Sale
Time Adjustment Sale Terms & Conditions
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
Sales Price
Date of Sale
Time Adjustment Sale Terms & Conditions
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
Sales Price $172,000
Date of Sale
Time Adjustment Sale Terms & Conditions
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
Sales Price $172,000
Date of Sale Current
Time Adjustment Sale Terms & Conditions
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
Sales Price $172,000
Date of Sale Current
Time Adjustment
None
Sale Terms & Conditions
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
Sales Price $172,000
Date of Sale Current
Time Adjustment
None
Sale Terms & Conditions
Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar
Sq. Ft. of Living Area Age
Type/Quality Construction Design & Appeal Condition
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar
Sq. Ft. of Living Area
2,500 2,500
Age
Type/Quality Construction Design & Appeal Condition
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar
Sq. Ft. of Living Area
2,500 2,500
Age 10 years 10 years
Type/Quality Construction Design & Appeal Condition
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar
Sq. Ft. of Living Area
2,500 2,500
Age 10 years 10 years
Type/Quality Construction
Frame Bk Front / -4,500
Design & Appeal Condition
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar
Sq. Ft. of Living Area
2,500 2,500
Age 10 years 10 years
Type/Quality Construction
Frame Bk Front / -4,500
Design & Appeal
Average Similar
Condition
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar
Sq. Ft. of Living Area
2,500 2,500
Age 10 years 10 years
Type/Quality Construction
Frame Bk Front / -4,500
Design & Appeal
Average Similar
Condition Good Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8
No. of Bedrooms No. of Baths
Functional Utility Air Conditioning Garage / Carport
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8
No. of Bedrooms
4 4
No. of Baths
Functional Utility Air Conditioning Garage / Carport
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8
No. of Bedrooms
4 4
No. of Baths 2.5 2.5
Functional Utility Air Conditioning Garage / Carport
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8
No. of Bedrooms
4 4
No. of Baths 2.5 2.5
Functional Utility
Good Similar
Air Conditioning Garage / Carport
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8
No. of Bedrooms
4 4
No. of Baths 2.5 2.5
Functional Utility
Good Similar
Air Conditioning
Central Central
Garage / Carport
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8
No. of Bedrooms
4 4
No. of Baths 2.5 2.5
Functional Utility
Good Similar
Air Conditioning
Central Central
Garage / Carport
2 Car Garage Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000
Basement
Fireplace
Items Energy Efficient Landscaping
Other / Fence
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000
Basement 800 Slab +9,600
Fireplace
Items Energy Efficient Landscaping
Other / Fence
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000
Basement 800 Slab +9,600
Fireplace 1 1
Items Energy Efficient Landscaping
Other / Fence
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000
Basement 800 Slab +9,600
Fireplace 1 1
Items Energy Efficient
Average Similar
Landscaping
Other / Fence
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000
Basement 800 Slab +9,600
Fireplace 1 1
Items Energy Efficient
Average Similar
Landscaping Average Similar
Other / Fence
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000
Basement 800 Slab +9,600
Fireplace 1 1
Items Energy Efficient
Average Similar
Landscaping Average Similar
Other / Fence None Fence / -2,500
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600
Sales Price
Less Adjustments Adjusted Sales Price
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600
Sales Price $172,000
Less Adjustments Adjusted Sales Price
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600
Sales Price $172,000
Less Adjustments
+ $3,600
Adjusted Sales Price
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600
Sales Price $172,000
Less Adjustments
+ $3,600
Adjusted Sales Price
$175,600
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
Sales Price $172,000
Date of Sale Current
Time Adjustment
None
Sale Terms & Conditions
Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
Sales Price $172,000 $173,900
Date of Sale Current
Time Adjustment
None
Sale Terms & Conditions
Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
Sales Price $172,000 $173,900
Date of Sale Current Current
Time Adjustment
None
Sale Terms & Conditions
Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
Sales Price $172,000 $178,900
Date of Sale Current Current
Time Adjustment
None None
Sale Terms & Conditions
Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
Sales Price $172,000 $178,900
Date of Sale Current Current
Time Adjustment
None None
Sale Terms & Conditions
Conventional Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar
Sq. Ft. of Living Area
2,500 2,500
Age 10 years 10 years
Type/Quality Construction
Frame Bk Front / -4,500
Design & Appeal
Average Similar
Condition Good Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500
Age 10 years 10 years
Type/Quality Construction
Frame Bk Front / -4,500
Design & Appeal
Average Similar
Condition Good Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500
Age 10 years 10 years
8 years
Type/Quality Construction
Frame Bk Front / -4,500
Design & Appeal
Average Similar
Condition Good Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500
Age 10 years 10 years
8 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Design & Appeal
Average Similar
Condition Good Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500
Age 10 years 10 years
8 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Design & Appeal
Average Similar Similar
Condition Good Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500
Age 10 years 10 years
8 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Design & Appeal
Average Similar Similar
Condition Good Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8
No. of Bedrooms
4 4
No. of Baths 2.5 2.5
Functional Utility
Good Similar
Air Conditioning
Central Central
Garage / Carport
2 Car Garage Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8
No. of Bedrooms
4 4 4
No. of Baths 2.5 2.5
Functional Utility
Good Similar
Air Conditioning
Central Central
Garage / Carport
2 Car Garage Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8
No. of Bedrooms
4 4 4
No. of Baths 2.5 2.5 2.5
Functional Utility
Good Similar
Air Conditioning
Central Central
Garage / Carport
2 Car Garage Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8
No. of Bedrooms
4 4 4
No. of Baths 2.5 2.5 2.5
Functional Utility
Good Similar Similar
Air Conditioning
Central Central
Garage / Carport
2 Car Garage Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8
No. of Bedrooms
4 4 4
No. of Baths 2.5 2.5 2.5
Functional Utility
Good Similar Similar
Air Conditioning
Central Central Central
Garage / Carport
2 Car Garage Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8
No. of Bedrooms
4 4 4
No. of Baths 2.5 2.5 2.5
Functional Utility
Good Similar Similar
Air Conditioning
Central Central Central
Garage / Carport
2 Car Garage Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch
Basement 800 Slab +9,600
Fireplace 1 1
Items Energy Efficient
Average Similar
Landscaping Average Similar
Other / Fence None Fence / -2,500
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch
Basement 800 Slab +9,600 650 / +1,800
Fireplace 1 1
Items Energy Efficient
Average Similar
Landscaping Average Similar
Other / Fence None Fence / -2,500
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch
Basement 800 Slab +9,600 650 / +1,800
Fireplace 1 1 1
Items Energy Efficient
Average Similar
Landscaping Average Similar
Other / Fence None Fence / -2,500
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch
Basement 800 Slab +9,600 650 / +1,800
Fireplace 1 1 1
Items Energy Efficient
Average Similar Similar
Landscaping Average Similar
Other / Fence None Fence / -2,500
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch
Basement 800 Slab +9,600 650 / +1,800
Fireplace 1 1 1
Items Energy Efficient
Average Similar Similar
Landscaping Average Similar Similar
Other / Fence None Fence / -2,500
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch
Basement 800 Slab +9,600 650 / +1,800
Fireplace 1 1 1
Items Energy Efficient
Average Similar Similar
Landscaping Average Similar Similar
Other / Fence None Fence / -2,500 None
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800
Sales Price $172,000
Less Adjustments
+ $3,600
Adjusted Sales Price
$175,600
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800
Sales Price $172,000 $178,900
Less Adjustments
+ $3,600
Adjusted Sales Price
$175,600
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800
Sales Price $172,000 $178,900
Less Adjustments
+ $3,600 + $2,800
Adjusted Sales Price
$175,600
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800
Sales Price $172,000 $178,900
Less Adjustments
+ $3,600 + $2,800
Adjusted Sales Price
$175,600 $181,700
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
1449 Resin Circle
Sales Price $172,000 $178,900
Date of Sale Current Current
Time Adjustment
None None
Sale Terms & Conditions
Conventional Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
1449 Resin Circle
Sales Price $172,000 $173,900 $192,500
Date of Sale Current Current
Time Adjustment
None None
Sale Terms & Conditions
Conventional Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
1449 Resin Circle
Sales Price $172,000 $173,900 $192,500
Date of Sale Current Current
Current
Time Adjustment
None None
Sale Terms & Conditions
Conventional Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
1449 Resin Circle
Sales Price $172,000 $173,900 $192,500
Date of Sale Current Current
Current
Time Adjustment
None None None
Sale Terms & Conditions
Conventional Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Item Subject Property
Comparable Comparable Comparable Comparable
Address 1000 Longleaf Court
1005 Longleaf Court
2121 Short Needle Drive
1449 Resin Circle
Sales Price $172,000 $173,900 $192,500
Date of Sale Current Current
Current
Time Adjustment
None None None
Sale Terms & Conditions
Conventional Conventional Conventional
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500
Age 10 years 10 years
8 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Design & Appeal
Average Similar Similar
Condition Good Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500 2,700 / -5,500
Age 10 years 10 years
8 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Design & Appeal
Average Similar Similar
Condition Good Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500 2,700 / -5,500
Age 10 years 10 years
8 years
9 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Design & Appeal
Average Similar Similar
Condition Good Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500 2,700 / -5,500
Age 10 years 10 years
8 years
9 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Frame
Design & Appeal
Average Similar Similar
Condition Good Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500 2,700 / -5,500
Age 10 years 10 years
8 years
9 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Frame
Design & Appeal
Average Similar Similar Similar
Condition Good Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Location Good Similar Similar Similar
Sq. Ft. of Living Area
2,500 2,500 2,280 / +5,500 2,700 / -5,500
Age 10 years 10 years
8 years
9 years
Type/Quality Construction
Frame Bk Front / -4,500
Bk Front / -4,500
Frame
Design & Appeal
Average Similar Similar Similar
Condition Good Similar Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8 8
No. of Bedrooms
4 4 4
No. of Baths 2.5 2.5 2.5
Functional Utility
Good Similar Similar
Air Conditioning
Central Central Central
Garage / Carport
2 Car Garage Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8 8
No. of Bedrooms
4 4 4 4
No. of Baths 2.5 2.5 2.5
Functional Utility
Good Similar Similar
Air Conditioning
Central Central Central
Garage / Carport
2 Car Garage Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8 8
No. of Bedrooms
4 4 4 4
No. of Baths 2.5 2.5 2.5 3 / -2,000
Functional Utility
Good Similar Similar
Air Conditioning
Central Central Central
Garage / Carport
2 Car Garage Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8 8
No. of Bedrooms
4 4 4 4
No. of Baths 2.5 2.5 2.5 3 / -2,000
Functional Utility
Good Similar Similar Similar
Air Conditioning
Central Central Central
Garage / Carport
2 Car Garage Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8 8
No. of Bedrooms
4 4 4 4
No. of Baths 2.5 2.5 2.5 3 / -2,000
Functional Utility
Good Similar Similar Similar
Air Conditioning
Central Central Central Central
Garage / Carport
2 Car Garage Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
No. of Rooms 8 8 8 8
No. of Bedrooms
4 4 4 4
No. of Baths 2.5 2.5 2.5 3 / -2,000
Functional Utility
Good Similar Similar Similar
Air Conditioning
Central Central Central Central
Garage / Carport
2 Car Garage Similar Similar Similar
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch Deck / Hot Tub -1,000
Basement 800 Slab +9,600 650 / +1,800
Fireplace 1 1 1
Items Energy Efficient
Average Similar Similar
Landscaping Average Similar Similar
Other / Fence None Fence / -2,500 None
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch Deck / Hot Tub -1,000
Basement 800 Slab +9,600 650 / +1,800 975 / -2,100
Fireplace 1 1 1
Items Energy Efficient
Average Similar Similar
Landscaping Average Similar Similar
Other / Fence None Fence / -2,500 None
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch Deck / Hot Tub -1,000
Basement 800 Slab +9,600 650 / +1,800 975 / -2,100
Fireplace 1 1 1 1
Items Energy Efficient
Average Similar Similar
Landscaping Average Similar Similar
Other / Fence None Fence / -2,500 None
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch Deck / Hot Tub -1,000
Basement 800 Slab +9,600 650 / +1,800 975 / -2,100
Fireplace 1 1 1 1
Items Energy Efficient
Average Similar Similar Similar
Landscaping Average Similar Similar
Other / Fence None Fence / -2,500 None
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch Deck / Hot Tub -1,000
Basement 800 Slab +9,600 650 / +1,800 975 / -2,100
Fireplace 1 1 1 1
Items Energy Efficient
Average Similar Similar Similar
Landscaping Average Similar Similar Similar
Other / Fence None Fence / -2,500 None
Market Analysis Adjustment Worksheet – Form 9-2
continued
Porches, Patio, Pool
Screen Porch Deck / +1,000 Screen Porch Deck / Hot Tub -1,000
Basement 800 Slab +9,600 650 / +1,800 975 / -2,100
Fireplace 1 1 1 1
Items Energy Efficient
Average Similar Similar Similar
Landscaping Average Similar Similar Similar
Other / Fence None Fence / -2,500 None Fence / -2,500
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800 - $12,600
Sales Price $172,000 $178,900
Less Adjustments
+ $3,600 + $2,800
Adjusted Sales Price
$175,600 $181,700
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800 - $12,600
Sales Price $172,000 $178,900
$192,500
Less Adjustments
+ $3,600 + $2,800
Adjusted Sales Price
$175,600 $181,700
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800 - $12,600
Sales Price $172,000 $178,900
$192,500
Less Adjustments
+ $3,600 + $2,800 - $12,600
Adjusted Sales Price
$175,600 $181,700
Market Analysis Adjustment Worksheet – Form 9-2
continue to Conclusions
Total NET Adjustments
+ $3,600 + $2,800 - $12,600
Sales Price $172,000 $178,900
$192,500
Less Adjustments
+ $3,600 + $2,800 - $12,600
Adjusted Sales Price
$175,600 $181,700 $179,900
Market Analysis Adjustment Worksheet – Form 9-2
Correlation: Indicated Value % Weight Comparable - $175,600 x 30% = $52,680 Comparable - $181,700 x 50% = $90,750 Comparable - $179,900 x 20% = $35,980
Estimate Value by Market Data Approach: $179,410 Rounded to: $179,400
Student Exercise #2 PRICING PROPERTY - COMPLETED
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Student Exercise #2 REPLACEMENT COST WORKSHEET
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Replacement Cost Worksheet
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200 15 x 20 = 300
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200 28 x 28 = 784
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200
300 + 784 = 1084
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200
300 + 784 = 1084
x 140 = $3,360
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200
300 + 784 = 1084
x 140 = $3,360 x 200 = $7,600
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200
300 + 784 = 1084
x 140 = $3,360 x 200 = $7,600
x 1084 = $75,880
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200
300 + 784 = 1084
x 140 = $3,360 x 200 = $7,600
x 1084 = $75,880 $3,360 + $7,600 + $75,880 = $86,840
Replacement Cost Worksheet Calculate the Square Footage for:
Sunroom: Garage: Living Area:
Using the following replacement cost values, calculate the replacement costs for each:
Sunroom ($24 per square foot) Garage ($38 per square foot) Living Area ($70 per square foot) Total
The land is valued at $15,000; there is approximately $6,700 estimated for depreciation. What is the indicated value of the property?
5 x 28 = 140 10 x 20 = 200
300 + 784 = 1084
x 140 = $3,360 x 200 = $7,600
x 1084 = $75,880 $3,360 + $7,600 + $75,880 = $86,840
$86,840 - $6,700 + $15,000 = $95,140
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