WEIGHTED SALES APPROACH
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1 WEIGHTED SALES APPROACH Data Information for Workfile File# Parent Folder: 2015 Folder" Oak Hills Notes: Weighted Percentage From the Sales Comparison Analysis, score the Comparables. Score: 1 thru 5 (5 being most similar) Comparable Sales #1 #2 #3 #4 #5 #6 Totals: Date of Sale 0 Location 0 From the Sales Comparion Analysis, grade Site each comparable sale compared to the View 0 subject. Example: If Comparable 1 is Design/Appeal 0 slightly older, '4' might be input for age. Quality of Constr 0 Age 0 Condition Bedroom Count 0 Hint: If there are no differences on a certain Bathroom Count 0 item between the subject and comparables, Square Footage there is no need to grade them. Room Below Grade 0 Functional Utility 0 Example: If all comparables have similar Heating/Cooling 0 Heating and Air, there is no need to grade them. Energy Efficient Items 0 Garage/Carport 0 If one comparable is dissimilar to the subject, Porch/Patio grade each sale compared to the subject. Fireplace/Fence 0 Pool 0 Other 0 TOTALS: Totals Weighted Percentage 38.64% 29.55% 31.82% 0.00% 0.00% 0.00% Adjusted Sale Price $265,482 $259,174 $279,295 Enter the "Adjusted Sale Price of Comparables" from (from URAR) the 1004, 2055, etc. here. Weighted Value $102,573 $76,574 $88,867 $0 $0 $0 Value Conclusion: $268,013
2 Weighted by # of Adjustments Sale #1 Sale #2 Sale #3 Sale #4 Sale #5 Sale #6 Sale Price $272,632 $242,999 $280,000 $290,000 $275,000 $276,000 Enter the Sale Price and Concessions for the Less Concessions $0 $0 $0 $0 $0 $2,000 Comparable Sales used on the 1004, 2055, etc. Net Sale Price $272,632 $242,999 $280,000 $290,000 $275,000 $274,000 # of adjustments '# of adjustments': Go to your appraisal report. In the Factor - SP divided by # Sales Comparison Grid, what were the total number of x Adjusted Sale Price $265,482 $259,174 $279,295 $0 $0 $0 adjustments made (count the number of times you Weighted Values made an adjustment) to the comparable sales below the 'Concessions' line? Enter that number here. Total of Weighted Values divided by Factor Total 290 Value Conclusion: $268,602 Weighted by Net Dollars Sale #1 Sale #2 Sale #3 Sale #4 Sale #5 Sale #6 Sale Price $272,632 $242,999 $280,000 $290,000 $275,000 $276,000 Enter the Sale Price and Concessions for the Net Dollars Adjusted $7,150 $16,175 $705 Comparable Sales used on the 1004, 2055, etc. Factor - SP divided by # x Adjusted Sale Price $265,482 $259,174 $279,295 $0 $0 $0 'Net Dollars Adjusted': Go to your appraisal report. In the Weighted Values Sales Comparison Grid, what is the total Net dollars adjusted Enter that number here. Total of Weighted Values divided by Factor Total 450 Value Conclusion: $277,454 Weighted by Gross Dollars Sale #1 Sale #2 Sale #3 Sale #4 Sale #5 Sale #6 Sale Price $272,632 $242,999 $280,000 $290,000 $275,000 $276,000 Enter the Sale Price and Concessions for the Gross Dollars Adjusted $7,150 $16,175 $19,295 Comparable Sales used on the 1004, 2055, etc. Factor - SP divided by # x Adjusted Sale Price $265,482 $259,174 $279,295 $0 $0 $0 'Gross Dollars Adjusted': Go to your appraisal report. In the Weighted Values Sales Comparison Grid, what is the total Gross dollars adjusted Gross dollars are all adjustments added together regardless of Total of Weighted Values plus (+) or minus ( ) signs. Enter that number here. divided by Factor Total Value Conclusion: $267,044
3 Absolute Deviation $7,541 Sale #1 Sale #2 Sale #3 Sale #4 Sale #5 Sale #6 Mean Adjusted Sale Price $265,482 $259,174 $279,295 $0 $0 $0 $267,984 Mean $267,984 $267,984 $267,984 $267,984 $267,984 $267,984 Absolute Deviation Differences from the Mean $2,502 $8,810 $11,311 $0 $0 $0 $7,541 Calculate Absolute Deviation: Adjusted Sale Prices less Mean $267,984 $267,984 their average. The average of the difference is Absolute Deviation $7,541 $7,541 added and subtracted to the Average to provide Probable Forecast Low $260,443 High $275,525 a range. Standard Deviation $10,291 Differences from the Mean $2,502 $8,810 $11,311 $0 $0 $0 Average of Squares 1 Differences Squared $6,258,336 $77,610,227 $127,946,262 $0 $0 $0 $105,907,412 Calculate Standard Deviation: Take the square Mean $267,984 $267,984 root of the Average Squares less 1. Standard Deviation $10,291 $10,291 Example: if there are 5 sales, divide total by 4. Probable Forecast Low $257,693 High $278,275
4 RANKING ANALYSIS Enter "SIM", "SUP", or "INF" for line items with dissimilarities Comparable Sales #1 #2 #3 #4 #5 #6 Date of Sale From the Sales Comparion Analysis, rank Location each comparable sale compared to the Site INF INF SUP subject. View SIM SUP SUP Example: If Comparable 1 is has similar square Design/Appeal footage, rank it SIM. If Comparable 2 has a larger Quality of Constr squarte footage, rank it SUP. If Comparable 3 has Age a smaller square footage, rank it INF. Condition SIM INF INF Bedroom Count SIM SIM SUP Hint: If there are no differences on a certain Bathroom Count SIM SIM SIM item between the subject and comparables, Square Footage SUP INF INF there is no need to rank them. Room Below Grade Functional Utility If one comparable is dissimilar to the subject, Heating/Cooling rank each sale compared to the subject. Energy Efficient Items Garage/Carport Porch/Patio SIM INF SIM Fireplace/Fence Pool Other Superior Similar Inferior SIM/SUP/INF Sale Price RANKING: Sale #1 SIM $272,632 1 Sale #2 INF $242,999 3 Sale #3 SUP $280,000 2 Sale #4 $290,000 Sale #5 $275,000 Sale #6 $276,000 Ranking Reconcile: $273,000 RELATIVE Rating: Price per SF COMPARISON: SIM INF SUP Subject GLA Price per SF Conclusions: 1852 $ $268,540 Realative Comparison: $268,500
5 Value Opinion by Weighted Percentage: $268,013 Value Opinion by # of Adjustments: $268,602 Value Opinion by Net Adjustments: $277,454 Value Opinion by Gross Adjustments: $267,044 Value Opinion by Absolute Deviation: $260,443 $275,525 Value Opinion by Standard Deviation: $257,693 $278,275 Value Opinion by Ranking Analysis: $273,000 Value Opinion by Relative Comparison: $268,500 RECONCILE: $268,000
6 WEIGHTED VALUE DETERMINATION Data Information for Workfile File# (ENTER THE RECONCILED VALUES FROM THE 3 APPROACHES) COST APPROACH $270,921 SALES COMPARISON ANALYSIS $268,000 INCOME APPROACH APPLICABILITY/ QUALITY QUANTITY RELEVANCE COST APPROACH 2 2 x 5 20 SALES COMPARISON ANALYSIS 5 5 x 5 50 INCOME APPROACH x 0 70 WEIGHT GIVEN (%) $ VALUE COST APPROACH 28.57% $77,406 SALES COMPARISON ANALYSIS 71.43% $191,429 INCOME APPROACH 0.00% $0 DOLLAR VALUE OF SUBJECT $268,835 RECONCILED VALUE: $268,000
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