Appraising property located adjacent to high speed freeway


Problem: 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 are the values of the adjustment factor for size and for time?

 

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Accounting Basics: Appraising property located adjacent to high speed freeway
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