Market Values based on the subjectÂ market data, The reader is to fill in the dataÂ where noted.
The subject prior sale was (date) @ (dollars). It is assumed the subject's sales price was supported by the market data in the time periodÂ (date).
Subject Hypothetical Market Values
Attached, Single Family, 2-4 units inÂ MLS (number or area)
Â # sales, subject date of market data, $ Low - $ High, avg $, median $, domÂ Â
Â # sales, date todays market data, $ Low - $ High, avg $, median $, dom
Ratio's Â Average % Â Â Median %
Based on this market data the subject's presentÂ estimated values would be
Â subject priorÂ sale price X Avg % =$Value, Subject prior sales price X Median % = $Value
Same formula for the subject's type of property.
Same formula for the subject's type of property and theÂ number ofÂ bedrooms and baths.
The ratio's average andÂ medianÂ percents times the subject prior sales price mayÂ help support
the subject present value opinion, and or support or not support the subjectÂ prior market value opinion.
A good appraisal report will have a hypothetical scenario and data to support the value opinion in the appraisal report.
It the appraisalÂ report lack data to support the value opinion and statements it may not be a creditable report.Â Â
Illinios License(s),Â Certified RE Appraiser & Managing RE Broker
773 685 8300 firstname.lastname@example.org