General Certification Exam Question Help

[Alowishus]

A colleague of mine just took the general exam for the second time and had a question he needs help on. Im taking mine soon and jeez louise I hope I pass the first time out. Here's the question.

Your subject is 10 acres. 5 acres zoned retail, 2 acres zoned multi-family and 3 acres zoned single family residential.

Sale of 10 Acres at $1.83 psf. 4 acres retail, 4 acres mulit-family and 2 acres SFR.

Multi-Family is 40% of retail and SFR is 20% of retail.

What is the retail subject acreage worth.

 

[Michigan CG]

$531,432

............

 

[Lawrence R.]

$531,432

............

You get 1/2 credit on the forum for the right answer, but you didn't show your work...

Which I need you to do b/c I got $664,290. No, wait, 664290 would be for the 5 acre subject if you used the same ratio.

Yeah, you can't beat Tim on these. he is right on.

Wanna see the math?

Edited to add, NO, he was asking for the indicated value of the subject acreage, which would be 5...careful Tim!!

 

[Michigan CG]

Sale of 10 Acres at $1.83 psf. 4 acres retail,

What is the retail subject acreage worth.

4 acres of retail is worth $531,432.

 

[Lawrence R.]

A college of mine just took the general exam for the second time and had a question he needs help on. Im taking mine soon and jeez louise I hope I pass the first time out. Here's the question.

Your subject is 10 acres. 5 acres zoned retail, 2 acres zoned multi-family and 3 acres zoned single family residential.

Sale of 10 Acres at $1.83 psf. 4 acres retail, 4 acres mulit-family and 2 acres SFR.

Multi-Family is 40% of retail and SFR is 20% of retail.

What is the retail subject acreage worth.

My bold. Your move.

 

[Michigan CG]

My bold. Your move.

OK, fine, $664,290.

 

[Lawrence R.]

OK, fine, $664,290.

Thanks, LOL, and no crowd to see it...

 

[Ken B]

More please!

 

[The Warrior Monk]

I wish all real work appraisal problems worked like this.

 

[Alowishus]

Well I dont know if its a trick question or not, but my colleague said none of those answers jived with the test. Please explain how you got to your answer please. Thanks for the help.