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VALUE INDICATED BY DIRECT SALES COMPARISON APPROACH <br /> Sale 1 Sale 2 Sale 3 <br /> Sales Price $5, 500 $12 , 000 $8 . 000 <br /> Adiusted for: <br /> Time equal +500 equal <br /> Location equal -4. 000 equal <br /> Zoning equal equal equal <br /> Size equal -3 . 000 -3 . 000 <br /> Utility -3 , 000 -3, 000 -3 . 000 <br /> Other <br /> Adiusted Sales Price $ 2 . 500 $2 , 500 $2 . 000 <br /> (Refer to Comparable Sales Sheets for details) <br /> INDICATED VALUE BY DIRECT SALES COMPARISON APPROACH: $2 , 500 <br /> EXPLINATION OF ADJUSTMENTS: <br /> Sale 1 is in a location that is similar to the sublect , it <br /> approximately the same size but has greater utility because it has <br /> city water and sewer . Sale 2 is in a superior neighborhood. It is <br /> larger and has community water. Sale 3 is in a similar neighborhood. <br /> It is larger and has greater utility because it can support as septic <br /> system. <br />