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An appraiser has assigned the following weights to three adjusted sale prices: Comparable 1: $329,500 45% weight Comparable 2: $320,900 35% weight Comparable 3: $312,000 20% weight What is the reconciled estimated market value of the subject property?

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PGAMUKAMA

Answer:

$322,990

Explanation:

The reconciled estimated market value of the subject property will be calculated as follows:

($329,500 X 0.45) + ($320,900 X 0.35) + ($312,000 X 0.2) = $322,990

abiolataiwo2015

The reconciled estimated market value of the subject property is:$322,990.

Estimated market value

Using this formula

Estimated market value=(Comparable 1 Adjusted sales price× Weight)+(Comparable2 Adjusted sales price× Weight)+(Comparable 3 Adjusted sales price× Weight)

Let plug in the formula

Estimated market value=($329,500 ×0.45) + ($320,900 ×0.35) + ($312,000 × 0.2)

Estimated market value=$148,275+$112,315+$62,400

Estimated market value=$322,990

Inconclusion the reconciled estimated market value of the subject property is:$322,990.

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