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Homework answers / question archive / The following are the adjusted sales prices of four comparables

The following are the adjusted sales prices of four comparables

Finance

The following are the adjusted sales prices of four comparables. Their designated weighted amounts are 20% for comparables 1 and 4.35% for comparable 2 and 25% for comparable 3. Comparable 1 - $167,800 Comparable 2 = $169,500 Comparable 3 = $170,300 Comparable 4 - $168,000 Given this information, what is the market value of your subject property? $167.900 $169,060 $168,040 $169,400

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To calculate the market value of the property

We need to calculate the weighted average value of the 4 comparables

We do that in the following manner

  Weight Value
Comp 1 20% 167800
Comp 2 35% 169500
Comp 3 25% 170300
Comp 4 20% 168000

A weighted average of these 4 comparables gives us

20%* 167800 + 35%*169500 + 25%*170300 + 20%*168000

A market value of $169,060

Correct answer is Option B:$169,060

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