SRS Property Valuation 2

Question 1

In a CMA, a comparable sold for $410,000 and has a $15,000 pool the subject lacks. What is the adjusted comparable price?

Accepted Answer

$395,000

Answer

When the comparable is superior, subtract the feature's value from the comparable's price.

Question 2

Which comparable is generally the MOST reliable indicator of current market value for a seller's listing?

Accepted Answer

A recent closed sale with similar features nearby

Answer

Recent closed sales reflect prices buyers actually paid, making them the strongest evidence of value.

Question 3

There are 120 active listings and 40 homes sold per month. What is the months' supply of inventory?

Accepted Answer

3 months

Answer

Divide active inventory by monthly sales: 120 ÷ 40 = 3 months.

Question 4

What do expired listings in a CMA most often reveal to a seller?

Accepted Answer

The ceiling price buyers would not pay

Answer

Expired listings show prices that failed to attract buyers, signaling overpricing in that range.

Question 5

A home next to a newly built highway loses value. This is an example of:

Accepted Answer

External (economic) obsolescence

Answer

External obsolescence comes from factors outside the property boundaries and is generally incurable by the owner.

SRS - Seller Representative Specialist Practice Test