|
Explanation of the Kansas
Comparable Sales Report |
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SUBJECT |
The property whose value is being estimated |
|
COMP 1, COMP 2, ETC… |
Properties that have sold and which are similar to the subject
property. They assist in the valuation process of the subject
property using the market approach. |
|
PARCEL ID |
A unique identifying number assigned to each parcel of real
estate by the appraiser’s office. |
|
NBHD ID/NBHDGRP |
A neighborhood is an area within which the properties share the
same general desirability in the real estate market; a
neighborhood group is composed on neighborhoods with the same
general characteristics. |
|
LAND USE |
A code indicating the current use of the property |
| |
111 |
Single Family |
|
112 |
Duplex |
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113 |
Three Family Unit |
|
114 |
Four Family |
|
115 |
Condominium |
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811 |
Farm/Ranch Home |
|
|
GRADE |
A rating reflecting the quality of construction. Grades range
from AA to E; plus and minus grades are also used. |
|
CDU |
A rating reflecting the physical condition, utility and
desirability of a property; location is an important element of
desirability CDU ratings range from Excellent to
Unsound/Undesirable. |
|
FIRST FLOOR AREA |
The square footage (based on exterior measurements) of the main
part of the dwelling. |
|
UPPER FLOOR AREA |
The square footage (base on exterior measurements) of the upper
floor of the dwelling. |
|
RCNLD-DWELLING |
The estimated depreciated value of the dwelling using standard
cost tables adjusted for the local county condition. This
estimate is printed for reference only and is not used in the
calculation of the market estimate of value. |
|
TOTAL OB&Y |
The estimated depreciated value of outbuildings and yard
improvements; these include detached garages, sheds, patios and
decks. |
|
LAND VALUE |
The value attributed to the land. Since once a house is
constructed, land and buildings sell as a unit, the relative
distribution of value between land and building has little
effect on the final estimate of market value. |
|
MARKET ADJUSTMENT |
A composite estimate of value based on a market analysis of the
contributory value of the various property characteristics.
Takes the characteristic of the subject and applies to model
coefficients. Finds numeric values from the expanded basic edit
of the market model. |
|
ADJUSTED SALE |
Since the properties chosen as comparables will be used to
estimate the value of the subject property and since these sold
properties are rarely identical to the subject t property, the
sale prices have to be adjusted for these differences before
they can be used as estimates of value. IF the property, which
sold is better than the subject property, the adjusted sale
price will be less than the actual sale price. If the property,
which is sold is less desirable than the subject property, the
adjusted sale price will be higher than the actual sale. Any
inflationary or deflationary trends in the local real estate
market will also be reflected in the sales prices. |
|
COMPARABILITY |
An indicator of the relative similarity of the sale properties
to the subject property Range is 0 to 200+ |
|
WEIGHTED ESTIMATE |
A weighted average of the adjusted sale prices; the adjusted
sales prices are weighted by the degree of comparability. |
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PREVIOUS VALUE |
The previous year’s value on the subject property. |
|
PRIOR APPEAL/CD |
If a value had been appealed, the year and type of the most
recent appeal will be listed. |
|
MARKET ESTIMATE |
The estimate of the fair market value of the subject property
based on the sales of the comparable properties. |
|
FIELD CONTROL CODE |
An indicator of the spread among the adjusted sale prices. The
range of codes is 1 to 4. |
