Assignment Task

There are four (4) separate tasks to be undertaken as listed below, in addition to an executive summary. (The executive summary is not included in the word count.)

Use these tasks as headings in your assignment/report.

1. Summary table of the property market and the HOUSE (the subject property).

This section is short, just one table, ½ to ¾ of a page, to quickly remind the reader of key details of A-1.

In this summary table, show only the key details that you researched in A-1 regarding information and specifications. Include the key property characteristics and key external (property market) factors affecting the property’s value. You may re-use tables from A-1, with edited/key details.

Include the zoning , any overlays on the property, and any other relevant ‘planning’ matters. (See: land.vic.gov.au or similar sites in other states.) What are ‘key’ factors? Ask your tutor in class to clarify.

2. Find three (3) comparable /recently sold properties: this is the search process.

Conduct a search in the local property market and identify 3 properties that are comparable to your selected ‘subject’ dwelling (house). Ensure that each property was sold within the last 6 months and that you have the sale date and the amount it was sold for. If need be, for your 3 comparable properties, you may also choose a property that is currently listed on the market for sale (but not one that is due for auction soon.) Select comparable properties which have similar (but not exact) characteristics to the subject property. For example, a similar number of bedrooms, bathrooms, zoning, size, floor areas, etc.

Discuss (in professional terms) the process you took for finding and inspecting each comparable property and explain why you chose those three properties. This means to give a rationale for why you chose those particular ‘comparables’. E.g., they were in a near-by street, or a larger version of the same style.

3. Describe the 3 comparable properties in detail:

Describe each comparable-sale property in detail, both the land and the building also. Refer to the condition of each property, its internal/external factors (including ‘services’ on site) and other factors/features that may affect, or contribute to, the property’s value, e.g., on a busy road, size of the land, restrictive zoning, over-shadowing, # of rooms, size in m2, parking, access, etc, etc, etc, etc, etc.

Include any relevant external factors also, which we call the ‘externalities’. Consider intangibles as well, such as status, or quietness. Include a detailed and labelled map of the location and area (though not just a cut & paste aerial shot.) This task is discussed in seminars in detail.

Add any other relevant information such as local amenities, train-lines, mines, large developments, employment centres, orientation, scale, distances, etc. All properties should be shown on the same map.

Due to the tight word-count, the use of tables is needed, and with a focus on key aspects. Including a table(s) in this section helps to show the numeric data/info of the properties in a tidy visual way.

a. Land/House Value Proportions: In the table below, insert the property addresses and then one of these words (inferior, similar or superior) in each empty cell, on whether the;

(a) land for each comparable: is it inferior, similar or superior in comparison to the subject,

(b) house for each comparable: is it inferior, similar or superior in comparison to the subject,

(c) entire property (i.e. both house & land together) for each comparable is it: inferior, similar or superior in comparison to the subject.

4. Valuation of the subject property:

Estimate a market value for the subject property by comparing each of the 3 comparable properties to your subject property. Tasks are as follows:

Two tables: note: these tables are taught in class.

(a) Use a comparison - table analysis to display your comparisons. This table shows; inferior, similar, superior . Is called the ‘comparison analysis’ table in seminar 6. Use the ‘traffic-light’ system for this table.

(b) Use an ‘adjustment’ table to compare your comparable properties with adjusted figures. See the class for details. It’s critical that your A-2 report includes a detailed/correct adjustment table.

Provide a subjective opinion on the value (or small range of values) of the subject property.

This is your subjective opinion of the/your valuation of the subject property. It MUST include the date of valuation and the full property address (including the state.) Your subjective value assessment should be written in the professional valuation style.

Before completing these tasks, re-consider if your house would be better to value as a long-term, or, as a short-term rental property. E.g., if your house is close to a busy sports stadium, you may find that short-term stay (say, for visiting sport fans) is a better option than a long-term rental option (due to the constant noise and traffic issues for permanent residents.) Your choice will help to analysis the value factors of the property. Give reasons to explain why you have chosen your long-term or short-term rental option to assist with your final valuation figure. (You may already have considered this in your adjustment table.)

This MMP 111 - Management has been solved by our PhD Experts at UnilearnO. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK and US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics and referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.