Estimated Home Value
The requirement of this assignment is to determine an Estimated Home Value and write a short paper on the topic of Estimated Home Value. Use the data below to determine the correct estimate for the subject property.Solve the following problem using the data outlined. Include a table of any adjustments you make to the sales prices of the comparable properties (this should be 1 to 2 pages). Next, write a (4 to 6 page paper, excluding title page and reference page) concerning Estimating Home Value. Include your calculations, chart, etc. in your paper. Discuss vital aspects when estimating the value of a property. Note: The body of your paper with both the problem solving, charts, and written content should be 5 to 7 pages plus the Title Page.Problem: An appraiser is attempting to estimate the value of a house. The subject property has four bedrooms and a swimming pool. The appraiser has found three comparable listings that have recently sold:Comparable Sales Price Bedrooms Swimming Pool___________________________________________________1 $310,000 5 No2 $301,000 4 No3 $334,000 3 YesThe appraiser estimates that each bedroom has a worth of $12,000 and a swimming pool a worth of $25,000. Given the above information, what is the estimated value of the subject property using the average derived from the comparables?