Question

A comparable sold ten months ago for $350,000. Appraiser Andy concludes that property values have increased by 5% per year. What should the adjustment be

Answer 1

The adjustment in the property value should be $17,500 increase so that the property is valued at $367,500.

Data and Calculations:

Value of property 10 months ago = $350,000

Increase in property values = 5%

Adjustment in property = $17,500  ($350,000 x 5%)

What is adjustment in property value?

This is the change in the value of property as a result of an increase or decrease in the values of comparable properties within the locality.

Thus, the adjustment in the property value should be $17,500 increase so that the property is valued at $367,500.

Learn more about adjustment in property values here: brainly.com/question/15397430 and brainly.com/question/7142333