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Land Valuation <br />32 <br />Analysis and Adjustment of Sales <br />The sales are compared to the subject and adjusted to account for material differences that affect <br />value. Adjustments are considered for the following factors, in the sequence shown below. <br />Adjustment <br />Factor <br />Accounts For <br />Comments <br />Effective Sale <br />Atypical economics of a transaction, <br />No adjustments necessary <br />Price <br />such as demolition cost or expenditures <br />by buyer at time of purchase. <br />Real Property <br />Fee simple, leased fee, leasehold, partial <br />No adjustments necessary <br />Rights <br />interest, etc. <br />Financing Terms <br />Seller financing, or assumption of <br />No adjustments necessary <br />existing financing, at non - market terms. <br />Conditions of Sale <br />Extraordinary motivation of buyer or <br />Sale four was given a positive adjustment <br />seller, assemblage, forced sale. <br />Market <br />Changes in the economic environment <br />No adjustments necessary <br />Conditions <br />over time that affect the appreciation <br />and depreciation of real estate. <br />Location <br />Market or submarket area influences on <br />Sales one and two were given positive <br />sale price; surrounding land use <br />adjustments for inferior location. Sale four was <br />influences. <br />given a negative adjustment for superior <br />location <br />Size <br />Inverse relationship that often exists <br />Sale one was given a negative adjustment for <br />between parcel size and unit value. <br />smaller size <br />Access /Frontage <br />Convenience to transportation facilities; <br />Sale four was given a negative adjustment for <br />ease of site access; visibility; traffic <br />superior frontage <br />counts. <br />Shape and <br />Primary physical factors that affect the <br />Sale four was adjusted upward as a portion of <br />Topography <br />utility of a site for its highest and best <br />the property is in the flood plain <br />use. <br />Zoning <br />Government regulations that affect the <br />No adjustments necessary <br />types and intensities of uses allowable <br />on a site. <br />Utilities <br />Access to public water and sewer <br />Sales one, three and four were given positive <br />adjustments for inferior access to public <br />utilities <br />The Glenn Center irr <br />Attachment number 1 <br />H -5 Page 365 <br />