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CORRELATION AND FINAL ESTIMATE OF VALUE <br /> Indicated Value, via Sales Comparison Approach: $460,000 <br /> Indicated Value via Income Approach: $470,000 <br /> Indicated Value via Cost Approach: $466,000 <br /> Correlation is the process of weighing each of the individual valuation methods in reflection of the <br /> market and in reflection of the source, type and amount of the data used to conclude the value of <br /> each approach. <br /> The Sales Comparison Approach is a method of comparing the subject directly to other sales in <br /> the marketplace. The overall price per square foot of the improvements was used for direct <br /> comparison for subject. <br /> The Income Approach is based on the potential earning power of the property and gives a good <br /> indication of the final estimate of value. <br /> The Cost Approach is based upon information from local contractors as well as Marshall Valuation <br /> Service after adjustments were made to local costs and trends. <br /> After considering all the factors that influence value as related to the methods of valuation used in <br /> this report, I am placing more weight upon the Sales Comparison Approach in arriving at the final <br /> estimate of value for the subject.As can be seen,the Sales Comparison Approach is well supported <br /> by the Income Approach and the Cost Approach to value. It is, therefore, my opinion that the <br /> market value of subject as of November 15, 2024, is: <br /> $460,000 <br /> FOUR HUNDRED SIXTY THOUSAND DOLLARS <br /> Exposure Time: <br /> The estimated exposure time for the subject property is based upon data gathered from the neighborhood <br /> analysis as well as listing information from the Multiple Listing Service. In addition, local brokers in the <br /> area were polled and the general consensus is an exposure time of approximately 12 months. <br /> 71 DAVIS APPRAISAL COMPANY <br />