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RES 431 (19)
Lecture 10

RES 431 Lecture 10: 10_RES 431 M001 Petrova 2-27-17

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Real Estate
RES 431
Milena Petrova

RES 431 1232017 9:44:00 PM RES 431 M001 Petrova 22717 [email protected] Lecture 7 cont. If monthly appreciation is 0.32 . property was sold 5 months ago it would be =P*(1+0.0032)^5 Differed maintenance COMPARISON APPROACH: If the price is cheaper add the comparison price??? COST APPROACH: Estimated reproduction cost of improvements Estimated depreciation = Depreciated cost of building improvements + Estimated value of site = Indicated value by the cost approach 2 concepts of cost: Replacement cost Reproduction cost Accrued depreciation Annual depreciation: residential = Cost 27.5 commercial = Cost 39 Accrued depreciation: Annual Depreciation * nbr of years you held the property (from when you bought it), if new its from the time built Types of accrued depreciation: Physical deterioration Functional obsolescence External obsolescence
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