1. EXTRACTING FORECASTING OR QUICK SALE ADJUSTMENTS FROM THE MARKET You are completing an appraisal in an area where normal marketing time is 150-210 days. You have gathered data on sales under 120 days and over 120 days in order to possibly extract a forecasting adjustment. After preliminary analysis, you decide that an analysis of sales price per square foot would be most appropriate.

2. FORECASTING/QUICK SALE ADJUSTMENTS Sale PriceSq FtDOMSP per Sq Ft $245,000210085$116.67 $290,0002390110$121.34 $218,000196075$111.22 $272,000227590$119.56 $231,0002080101$111.06 Table 1: Sales under 120 days on market Mean = $115.77 median = $116.67 Reconciliation: most similar = $245,000.

3. FORECASTING/QUICK SALE ADJUSTMENTS Sale PriceSq FtDOMSP per Sq Ft $237,0001910189$124.08 $258,0002070210$124.64 $305,0002310150$132.03 $275,0002095155$131.26 $280,0002145225$130.54 Table 2: Sales over 120 days on market Mean = $128.51 Median = $130.54 Reconciliation: most similar = $275,000.

4. FORECASTING/QUIUCK SALE ADJUSTMENTS Sales Price Per Square Foot Over 120 days: Mean - $128.51 Median - $130.54 Under 120 days: Mean - $115.77 Median - $116.67 Difference: Mean - $12.74 Median - $ 13.87 Reconciliation of data: Over 120 days:Sale #2$275,000 = $131.76 Under 120 days: Sale #5$245,000 = $116.67

5. FORECASTING/QUICK SALE ADJUSTMENTS Calculated as percentages: $12.74/$115.77 =.110 or 11.0% (using Mean) $13.87/$116.67 =.119 or 11.9% (using Median) Based strictly on the statistical analysis: What would your forecasting adjustment be on a $272,000 sale that was on the market for 180 days? (Answer: $31,280 at 11.5%. Anticipated Sale Price/Quick Sale Value = $240,720)

6. FORECASTING/QUICK SALE ADJUSTMENTS Reconciliation: Calculated as a percentage: $245,000/$275,000 =.109 or 11% (rounded) $ 116.67/$131.76 =.115 or 11.5% Based on the Reconciliation percentage: What would your forecasting adjustment be on a $272,000 sale that was on the market for 180 days? (Answer: $29,290 at 11%. Anticipated Sale Price/Quick Sale Value = $242,080.)

7. FORECASTING/QUICK SALE ADJUSTMENTS- ADDITIONAL MEASURES Raw Mean Sale Price* $250,200 - $271,000 = ($20,800) = 7.7% Raw Median Sale Price** $245,000 - $275,000 = ($30,000)= 10.9% *Percentage based on over 120 days Raw Mean Sale Prices **Percentage based on over 120 days Raw Median Sale Prices