Property Valuation
A Maine appraiser uses three comparable sales to estimate value. The comparables show adjusted values of $285,000, $292,000, and $288,000. What is the simple average value indication?
A$285,000
B$288,000
C$288,333✓ Correct
D$292,000
Explanation
Simple average = ($285,000 + $292,000 + $288,000) / 3 = $865,000 / 3 = $288,333. Using the values given ($285,000,, $292,000,), apply the appropriate formula.. The correct answer is $288,333.. This is a common calculation on the Maine real estate exam.
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