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<br />Riverside Appraisals <br />Elk River, Minnesota <br />• ESTIMATED VALUE OF THE LAND !continued) <br />ADJUSTMENT CHART <br />The adjustment chart is used by the appraiser to compare and adjust the comparable sales to <br />the subject. The adjustments are always made to the comparables and are applied to the unit <br />of measurement. The most common unit of measurement for the land is the price per square <br />foot or price per acre. <br />The adjustments are made in percentages (%), which are multiplied together from left to right <br />to estimate a net adjustment. This is then applied to the unit price to arrive at an indicated <br />unit price for the subject. If the sale is inferior to the subject, a plus adjustment is made such <br />as 1.10 (indicating a plus 10%). If a negative adjustment is warranted, say -10%, it would be <br />shown as 0.90, and no adjustment would be shown as 1.00. <br />MARKET SALES ANAT.VSTS <br />n <br />U <br />• <br />SaleNo Price! Acro Cash <br />Equiv Cond of <br />Sale Time Locauon Use/ <br />Utiligea land Size Topog Comp. <br />Adj. Finial Adj <br />Price <br />1 $2,200 1.00 1.:00 1.00 1.00 1.00 1.00 1.00 1.00 $2,200 <br />2 $6,486 1.00 1.00 1.00 1.00 1.00 0.5 0.8 .4 $2,594 <br />3 $3,175 1.00 1.00 1.00 1.00 1.00 0.8 .1.00 0.8 $2,540 <br />4 $6,750 1.00 1.00 .1.00 1.0 0.7 .5 1.0 0.35 $2,362 <br />5 $6,600 .1.00 1.00 1.00 1.0 0.7 1.0 0.7 0.49 $3,234 <br />RANGE OF LAND SALES: <br />Before adjustments the sales ranged in value from $2,200 per acre to $6,750 per acre. <br />After adjustments the sales indicated a value range of the subject of $2,200 per acre to $3,234 <br />per acre. <br />The average of the adjusted sales is $2,586.0 <br />49 <br />