- 12 - lower values by making smaller or larger adjustments to the sale prices per square foot used in adjusting the comparable properties. Because the “comparables” used by Mr. Harris were so different from the subject properties, and thus required such significant discretionary adjustments in order to provide a basis for comparison, we are left with some doubt about the reliability of Mr. Harris’s conclusions. Presumably, these were the most “comparable” properties that Mr. Harris was able to find. Next, Mr. Harris used the adjusted per-square-foot values for the “comparable” properties to determine the value of the subject properties. For two of the properties (Watt Avenue and Fee Drive), Mr. Harris computed an average adjusted price per square foot for the “comparable” properties, which was rounded up to the nearest whole dollar amount per square foot. For the remaining property (Mother Lode Drive), Mr. Harris eliminated the high and low comparable values and used a whole dollar amount in the range of the remaining three values. Mr. Harris then computed a fair market value for the subject properties by multiplying the per-square-foot values he determined from his average or median adjusted “comparable” properties by the number of square feet of each of the subject properties. After deriving a current fair market value for the subject properties, Mr. Harris computed the annual fair market rentalPage: Previous 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 Next
Last modified: May 25, 2011