HomeMy WebLinkAbout20101632.tiff (it CLERK TO THE BOARD
PHONE (970) 336-7215, Ext. 4226
FAX: (970) 352-0242
P. O. BOX BOX 758
GREELEY, COLORADO 80632
•
COLORADO
July 29, 2010
KEINER KYLE J
2007 81 AVENUE
GREELEY, CO 80634
RE: THE BOARD OF EQUALIZATION, 2010, WELD COUNTY, COLORADO - DENY
PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE
DESCRIPTION OF PROPERTY: ACCOUNT #: R4570706 PARCEL #: 095917218008 - GR
ORM1-2 L8 BLK 2 OWL RIDGE MINOR BLOCKS 1 & 2
Dear Petitioner:
On July 29,2010,the Board of County Commissioners of Weld County, Colorado,convened,
and acting as the Board of Equalization, pursuant to Section 39-8-101, C.R.S., et.seq., considered
your petition of appeal of the County Assessor's valuation of your property described above,for the
year 2010.
The Board of Equalization found that the evidence presented at the hearing clearly
supported the value placed upon your above described property by the County Assessor. Such
evidence indicated the value was reasonable, equitable, and derived according to the
methodologies, percentages, figures and formulas dictated to the Weld County Assessor by law.
The assessment and valuation of the Weld County Assessor was affirmed as follows:
ACTUAL VALUE AS ACTUAL VALUE AS
DETERMINED BY SET BY BOARD
ASSESSOR
$370,360 $330,000
CSC; 67/9, PET(/e/-/er)
45- Octh4eyj t exit O9/o7G/D 2010-1632
AS0076
KEINER KYLE J - R4570706
Page 2
A denial of a petition, in whole or in part, by the Board of Equalization may be appealed by
selecting one of the following three options; however, said appeal must be filed within 30 days of
the denial:
1. Board of Assessment Appeals: You have the right to appeal the County Board
of Equalization's(CBOE's)decision to the Board of Assessment Appeals(BAA).
Such hearing is the final hearing at which testimony, exhibits, or any other
evidence may be introduced. If the decision of the BAA is further appealed to
the Court of Appeals, only the record created at the BAA hearing shall be the
basis for the Court's decision. No new evidence can be introduced at the Court
of Appeals. (Section 39-8-108(10), C.R.S.)
Appeals to the BAA must be made on forms furnished by the BAA, and such
appeals should be mailed or delivered within thirty (30) days of denial by the
CBOE to:
Board of Assessment Appeals
1313 Sherman Street, Room 315
Denver, CO 80203
Phone: 303-866-5880
Fees: A taxpayer representing himself is not charged for the first two appeals to
the Board of Assessment Appeals; however,a taxpayer being represented by an
agent or an attorney must submit a fee of$101.25 per appeal.
OR
2. District Court: You have the right to appeal the CBOE's decision to the District
Court of the county wherein your property is located. New testimony, exhibits or
any other evidence may be introduced at the District Court hearing. For filing
requirements, please contact your attorney or the Clerk of the District Court.
Further appeal of the District Court's decision is made to the Court of Appeals for
a review of the record. (Section 39-8-108(1), C.R.S.)
OR
3. Binding Arbitration: You have the right to submit your case to arbitration. If
you choose this option the arbitrator's decision is final and your right to appeal
your current valuation ends. (Section 39-8-108.5, C.R.S.)
Selecting the Arbitrator: In order to pursue arbitration, you must notify the
CBOE of your intent. You and the CBOE select an arbitrator from the official list
of qualified people. If you cannot agree on an arbitrator,the District Court of the
county in which the property is located will make the selection.
Arbitration Hearing Procedure: Arbitration hearings are held within sixty days
from the date the arbitrator is selected. Both you and the CBOE are entitled to
participate. The hearings are informal. The arbitrator has the authority to issue
subpoenas for witnesses, books, records, documents and other evidence. He
2010-1632
AS0076
KEINER KYLE J - R4570706
Page 3
also has the power to administer oaths, and all questions of law and fact shall be
determined by him.
The arbitration hearing may be confidential and closed to the public, upon mutual
agreement. The arbitrator's written decision must be delivered to both parties
personally or by registered mail within ten (10) days of the hearing. Such
decision is final and not subject to review.
Fees and Expenses: The arbitrator's fees and expenses are agreed upon by
you and the CBOE. In the case of residential real property, such fees and
expenses cannot exceed $150.00 per case. The arbitrator's fees and expenses,
not including counsel fees, are to be paid as provided in the decision.
If you have questions or need additional information, please do not hesitate to contact me at
(970) 336-7215, Extension 4226.
Very truly yours,
Yom; . d,.eA,
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2010-1632
AS0076
BOE SUMMARY SHEET
Account Number: R4570706 Parcel Number: 095917218008
KEINER KYLE J
2007 81 AVENUE
GREELEY, CO 80634
HEARING DATE: 7/29/2010, AT 8:15 AM - )
HEARING ATTENDED? LYNN) NAME: . If�2'4
AGENT NAME: V ((ll
APPRAISER NAME: VAG V athi . S&, Jt/1''U Ott
DECISION
ACTUAL VALUATION
APPROVE BY SET BY
ASSESSOR BOARD
TOTAL ACTUAL VALUE 370,360 CO.3 �j)
COMMENTS: /'
MOTION BY /NC TO C71PAy_
SECONDED BY Sr—.
Garcia -- Y N)
Rademacher- N)
Failed to prove appropriate value Conway -- N) �9
No comparables given Kirkmeyer-- (Y/N) — 9
Assessor's value upheld Long -- (Y/N) ,t ,t,
Other:
RESOLUTION NO. 2010-1632
M:\BOE\SUMMARY.dotx
Weld County
CHRISTOPHER M.WOODRUFF COUNTY ASSESSOR
BRENDA DONES,DEPUTY ASSESSOR
VALUATION REPORT
OF
RESIDENTIAL IMPROVED PROPERTY
FOR
Weld County Board of Equalization
KEINER KYLE J
KEINER CHERYL L
PETITIONER
VS.
WELD COUNTY ASSESSOR'S OFFICE
RESPONDENT
Parcel Number: 0959-17-2-18-008
Schedule Number: R4570706
Log Number: 3114
Date: July 29, 2010
Time: 8:15
Board: CBOE
PREPARED BY
VALERIE GRUBE
WELD COUNTY ASSESSOR'S OFFICE STAFF APPRAISER
CBOE_RES_01089
Page
GENERAL DESCRIPTION OF SUBJECT
The subject property is located at 2007 81 AV in GREELEY. The legal description of the
property is GR ORM1 -2 L8 BLK 2 OWL RIDGE MINOR BLOCKS 1 & 2 .
The subject is a Frame Stucco house constructed in 2007 . It has 1 , 820 square feet of finished
living area above grade . It has 1 , 800 square feet of basement of which 1 ,600 square feet is
finished basement. There are 4 bedrooms. The Assessor has classified the structure as a
Ranch 1 Story home of Good quality construction .
The assessor completed an exterior and interior physical inspection on July 21 , 2010 .
k
4.
1
aa
�i
i - •
* a--
Las
,t
ti
•
-a a ■ ■
•. • 1
Is
,
- • Rua r
1
07 / 19 / 2010 07 : 45
as-
CBOE_RES_01
Pac
MARKET APPROACH SUMMARY
The subject property has been classified as Residential for assessment purposes. Residential
property value shall be determined solely by consideration of the Market Approach to Value
{39-1-103(5)(a), CRS}.
As required by 39-1-104(10.2), CRS, the market value is determined by utilizing data from the
period of one and one-half years immediately prior to June 30th, 2008. If sufficient comparable
valuation data is not available within the eighteen-month time period, the assessor shall use
market data from the five year period immediately prior to June 30th, 2008. When appropriate,
all sales are to be time adjusted to the appraisal date of June 30th, 2008.
Although the appraisal date is June 30, 2008, the physical characteristics are reflective of the
property as of January 1, 2010.
The comparable sales in this report were selected using county records and the Multiple Listing
Services. The Weld County Assessor's Office has verified that the comparable sales are arms-
length transactions based on review of the Real Property Transfer Declaration, telephone or
personal confirmation interviews and physical inspections to confirm property characteristics at
the time of sale.
There were 13 arms-length sales in this area in the eighteen month data collection period. Of those
sales, none were sales from a financial institution. The sales prices ranged from $343,000.00 to
$435,000.00. The best three comparable properties were selected for the market adjustment grid.
DEFINITION OF MARKET VALUE: The most probable price, as of a specified date, in cash, or in
terms equivalent to cash, or in other precisely revealed terms, for which the specified property rights
should sell after reasonable exposure in a competitive market under all conditions requisite to a fair
sale, with the buyer and seller each acting prudently, knowledgeably, and for self interest, and
assuming that neither is under undue duress. {The Appraisal Institute}
The market value of the property as of June 30th, 2008 is:
ASSESSOR'S VALUE
RESIDENTIAL $370,360
Total: $370,360
CBOE_RES_01069
Page
Comparable Number 1
.'r - __
-h.
1 i $
'Vs :k .
rte=
Comparable Number 2
i
r4 ,,.
si .-.fie „.
••. �.;
c
. Via - . .
071.1313010 13:30
Comparable Number 3
- a
ili
. . 1 .
071181A0 13:24,
CBOE_RES_01
Pa'
LO
CO o
wI d
W
CL
WI
0
CO
0
e x
I . f
F
� S
i
o
„ s �.r.
(3 "
" ma i: 2 r f
w
I. im II
i df a L w i r• ,
• •
•
J 0
3
m
I
79TH AV 0 i b • S
�A �-,'" z
lea TALON PKWY
\is a,
2 * i
al,
r fro
.
►. cb-, �: !,. N a.' N
7/jc
C 3 O_
N �N N a
�. W .j a �
o N cp r :
N C r ;� — . M
d Ir
N ,L'wP sin i CD
aC
f No N :IN
00
t W r 1
N th r d o� cq C (V G - 1
o� C N N t 7 r r
N L'+ N N ' MV :0 070
t0 r
N
r] O 9D GJ IL' 04 h. �! ' C C{�t r
o UJ N 0 N 0 , n r iV N :r a •' N co
o - �' I c, b
01 n m
81ST AVt.
r cm COg
ei. I t
CO
r- r 0 O . oA ,n "I lc: IS i
�> r es N ;y is ._ ,{�
. c,i V �- N Q: Z1-1 ICI N N r in co
0 IN
y N le
cn lag
Z [W 1
N O r C ''s N C r0 r r r N" Ill
N N tit OP
xl nC N �J y N N N N7
C N b2
w ► s15K r C 82ND AV iF
N a
o it r . "
N C i h77 Sal
It.
pr
4' a jr
r O �! ?
U v)
. , u Cis t n
I- r 5
P•
r . �r E
C,
0 n 1
* . r
a0 ;ill
S ?
PI :
mc0
mm
w w w , Ra g w w w w R w w w w w W N W Y 7. N 8 a
N IA W a LO V T a
r11
H H N f W
W Cc
co
V
y
a v 8 $
o g re I
y4 i
(� evnQ E 0 iG N 0 ,I,
iR m O O O N 0 W a p p
O O O r` to W O LL p N C W W
E M O eh ti ca PI. M O q co N U O r ,% a J_ J_
o M h a ., O c0 N. ._ T W n o S QV 4
U N Y) O ix N IC N N 1- 7 M O F rein O O O 3 N 00Z Z < Q
Y) O O O N N O 0000 O cocoon O O O -e -t O N '
./� on w w w o g w w W w w N p IA eA w w io w w •
c•Y YI Yl M Q
'II^^ N h N cNA m YIN 0. M
v a
H K
r
C
lQ w 0
u u
EIEEE
O ce 14 E N W
0 p p p e W
4 am
W Q O.g88 paG 8 i �S VNe ¢ i O. sll I
QALt) e3A8 LL' R to F. C 412 O CI O F a' O OOO o , 0Z cRR whiz
V
pp po p pp pp pp p pp pp pp pp pp p p p po Q e e pp��
Z' 2 V M M B+ W o a s s a. N O a a a H $ $ $ M 8 0 N 8 O
P f 2 n N a mco or Q
C N co yoi
w w
3 M
CO
L LL
0 W To
J E
W W
CC
LLI G N Z E t E E
CO 63
till Qk $ 8m� g �000 8LL V {rvY x "N *8 13
to C �+1 Yf Q R C m m U O G Q O
0Ua0co0XR .- eorvCOr oeoo ¢ eg coo 82 Y61
t o -at
0 o ?
n o eo
r es va
M ^ m N o 2p n r-- ep O LL eYe� If- p r
U V f O O RS
o 8 8 8
n W YO 0 LL
• O d o Cl O 1- d' co o 0 0 0 0 0 ON N
a� �i'i �' ¢ R � eenu� �
J p W W
N o qZ W 5 ' m " E e E p i i
a W t N g LL r 3 E a a a W O V
W W d ' Z I) £ i E E E O e -0 A n� ❑o co �° ie i�
u4 = G LL8 c g� Q y� p ; MI
`i4
❑ d gq p $ Q�y �p gim p Pig
,� oEi o z J '� �- to t le 1L�° c yc 8 7W W IC A
0 N t a Q r m J Z V m m m m m o O U S 8 V J V 8 V } LL It
REAL AND PERSONAL PROPERTY
NOTICE OF DETERMINATION
Christopher M. Woodruff Date of Notice: 6/22/2010
Weld County Assessor Telephone: (970) 353-3845 or (720)652-4255
1400 N 17th Ave Fax: (970) 304-6433
Greeley, CO 80631 E-mail: appeals@co.weld.co.us
www.co.weld.co.us Office Hours: 8:00 AM - 5:00 PM
SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/
PHYSICAL LOCATION
R4570706 2010 2848 GR ORM1-2 L8 BLK 2 OWL RIDGE MINOR
BLOCKS 1 &2
2007 81 AV
mUi KEINER KYLE J GREELEY, CO
2007 81 AVENUE
o GREELEY, CO 80634
W
O
d
ASSESSOR'S VALUATION
ACTUAL VALUE PRIOR
PROPERTY CLASSIFICATION TO ACTUAL VALUE AFTER
REVIEW REVIEW
RESIDENTIAL 370,360 370,360
TOTAL $370,369 $370,360
The Assessor has carefully studied all available information, giving particular attention to the
specifics included on your protest. The Assessor's determination of value after review is
based on the following:
AL01 - Your property has been uniformly valued following Colorado law. Your protest of value has
been denied due to comparison of other similar properties which sold during the 2007/2008 time
period.
If you disagree with the Assessor's decision,you have the right to appeal to the
County Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S.
The deadline for filing real property appeals is July 15.
The deadline for filing personal property appeals is July 20.
The Assessor establishes property values. The local taxing authorities (county, school
district, city, fire protection, and other special districts) set mill levies. The mill levy
requested by each taxing authority is based on a projected budget and the property tax
revenue required to adequately fund the services it provides to its taxpayers. The local
taxing authorities hold budget hearings in the fall. If you are concerned about mill levies, we
recommend that you attend these budget hearings. Please refer to last year's tax bill or ask
your Assessor for a listing of the local taxing authorities.
Please refer to the reverse side of this notice for additional information ,7
ci
2010-1632 a}0PT-0 R
IS307-08/08
NOD# 8975
APPEAL PROCEDURES
County Board of Equalization Hearings will be held from
July 1 through August 5 at
915 10th Street, Greeley, CO
To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown
below, and mail or deliver a copy of both sides of this form to:
WELD COUNTY BOARD OF EQUALIZATION
915 10TH Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970) 356-4000 Ext, 4225
To preserve your appeal rights, your Petition to the County Board of Equalization must be
postmarked or delivered on or before July 15 for real property and on or before July 20 for
personal property—after such date, your right to appeal is lost. You may be required to prove that
you filed a timely appeal; therefore, we recommend that all correspondence be mailed with proof of
mailing.
You will be notified of the date and time scheduled for your hearing. The County Board of
Equalization must mail a written decision to you within five business days following the date of the
decision. The County Board of Equalization must conclude hearings and render decisions by August
5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and
you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by
September 11.
If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your
appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of
the following:
Board of Assessment Appeals District Court
1313 Sherman Street, Room 315 9 Av" Avenue and 9`" Street, P.O. Box C
Denver, CO 80203 Greeley, Colorado 80632
(303) 866-5880 Telephone (970) 356-4000 Ext. 4520
www.dola.colorado.gov/baa
Binding Arbitration
For a list of arbitrators, contact the County Commissioners at the address listed for the County Board
of Equalization.
If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document
falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed on
the next business day, §39-1-120(3), C.R.S.
PETITION TO COUNTY BOARD OF EQUALIZATION
What is your estimate of the property's value as of June 30, 2008? (Your opinion of value in
terms of a specific dollar amount is required f r eal property pursuant to § 39-8-106(1.5), C.R.S.)
$ 10,000
What is the basis for your estimate of value or your reason for requesting a review? (Please
attach additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent
roll, original install cost, ppr al, etc.) // e
ATTESTATION
I, the undersigned owner or agent' of the property identified above, affirm that the statements
contained hrinind on any attachments hereto are true and complete.
e. 770 —377-6:760 J'cc4 .2cin
Sig ature Telephone Number Date D
/ce 9'
Attach letter of authorization signed by property owner.
15-DPT-AR
PR 207-08/08
NOD# 8975
Petition to County Board of Equalization
What is your estimate of the property's value as of June 30, 2008?
$150,000.00
What is the basis for your estimate of value or your reason for requesting a review?
The basis for our estimate of value is contained in the attached property appraisal
documents. The value of this property as of June 2007 in its uninhabitable state through July
2009 when the house was purchased in a foreclosure cannot possibly exceed the foreclosure
sale of$150,000.00 paid in July 2009 for this partially completed home. I purchased the home
for$248,500 in October of 2009 when it was completed and the value of the house was set by
you at$294,020 for actual value, but even more unbelievable you increased the value$76,340
for 2010 to 370,360. How can you set a value on a unfinished house to houses that are finished
and then raise its value by 76,360 even when the same houses that you used as comparables
have sold again for$200,000 to$250,000 less?
Out of the six comparables you used to set my taxes,two of the houses where used in our
appraisal and show that the house at 2025 81st Ave Ct. for$425,000 in your appraisal but yet
sold for$249,000 and sold again for less at$235,000. Your appraisal at 2019 se Ave. was
$425,000 and on mine it sold for$218,000. Property values where tumbling and yet mine goes
up for 2010 by$76,340!
I couldn't afford a $370,000 house or even the taxes on one.
Kyle Keiner
2007 81st Ave.
Greeley, CO
970-515-6760
REAL PROPERTY NOTICE OF VALUATION
Christopher M. Woodruff Date of Notice: 4/13/2010
Weld Assessor Telephone: (970) 353-3845 or(720)652-4255
1400 N 17th Ave Fax: (970) 304-6433
Greeley, CO 80631 E-mail: appeals@co.weld.co.us
www.co.weld.co.us Office Hours: 8:00 AM-5:00 PM
SCHEDULE NUMBER TAX YEAR TAX AREA LEGAL DESCRIPTION/
PROPERTY ADDRESS
R4570706 2010 2848 GR ORM1-2 L8 BLK 2 OWL RIDGE MINOR BLOCKS 1
&2
2007 81 AV
re
w KEINER KYLE J
GREELEY CO 806340000
2007 81 AVENUE
o GREELEY CO 80634
Ft
w
a
re
a
ACTUAL VALUE
PROPERTY CLASSIFICATION +OR-CHANGE
_ PRIOR`de"" '�-_- TRENT
yam
RESIDENTIAL 294,020 370,360 76,340
TOTAL $294,020 $370,360 $76,340
U LAND NET SQFT 6,072 OCCUPANCY1 SINGLE FAMILY RESIDENTIAL
LAND NET ACRES 0.1394 PRIMARY BUILT AS RANCH 1 STORY
N
YEAR BUILT 2007
F- BUILT AS SQUARE FOOTAGE' 1749
TOTAL BASEMENT SQUARE FOOTAGE 1741
TOTAL BASEMENT FINISHED SQ FT 1741 'yi '• '" '
U 3
TOTAL GARAGE SQUARE FOOTAGE 460 4
w TOTAL BUILDING COUNT 1
a
*The square footage listed is the total exterior square footage and may include other structures on the property. Improvements means all structures,buildings,fixtures,
fences,and water rights erected upon or affixed to land,whether or not title to such land has been acquired,§39-1-102(7),C.R.S.
The assessment rate for residential property is projected to be 7.96%, § 39-1-104.2(3), C.R.S. A change in the projected
residential assessment percentage is not grounds for protest or abatement of taxes, § 39-5-121(1), C.R.S. Generally, all
other property, including vacant land, is assessed at 29%, § 39-1-104(1)C.R.S.
The tax notice you receive next January will be based on the current year actual value. If the Senior Citizen or Disabled
Veteran Property Tax Exemption has been applied to your residential property, it is not reflected in the current year actual
value shown above.
You have the right to protest the classification and/or valuation of your property. Please refer to the reverse side
of this notice for additional information.
15-DPT-AR
NOV 181-04/08
NOV#180122
File No. 0909KEINERI Page #1]
_se —sue._ _
Thai*
FILIThe. I r�
liiirtd - - - -
APPRAISAL OF REAL PROPERTY
LOCATED AT:
2007 81st Ave
GR ORM1-2 L8 BLK 2 OWL RIDGE MINOR BLOCKS 1 & 2 SITUS
Greeley, CO 80634-9665
FOR:
First National Bank
1204 West Ash Street
Windsor, CO 80550
AS OF:
09/18/2009
BY:
Margaret C. Maze
Certified Residential Appraiser
Form GA1 — 'TOTAL for Windows' appraisal software by a la mode, inc. — 1-800-ALAM0DE
File No.0909KEINERI Paae#2]
tle No.0909KEM'ER
Margaret Maze
Certified Residential Appraiser
09/18/2009
Attention:
First National Bank
1204 West Ash Street,Windsor,CO 80550
Borrower Keiner
In accordance with your request,I have personally inspected and appraised the real property at:
2007 81st Ave
Greeley CO 80634-9665
The purpose of this appraisal is to estimate the market value of the subject property,as improved. The
property rights appraised are the fee simple interest in the site and improvements.
In my opinion,the estimated market value of the property as of 09/18/2009 is:
249,000
This report is based on a physical analysis of the site and improvements,a locational analysis of the
neighborhood and city,and an economic analysis of the market for properties such as the subject. The
appraisal was developed and the report was prepared in accordance with the Uniform Standards of
Professional Appraisal Practice.
Margaret C.Maze
Certified Residential Appraiser
Thank You For Choosing NI About Appraisals
We Appreciate Your Business.
Form DUW—'TOTAL fa Windows'appraisal software by a la mole,inc.—1-80OAtAM00E
Margaret Maze (File No.0909KEINERI Page#3I
Uniform Residential Appraisal Report Pte#0909KEINER
The purpose of ills summary appraisal report is to provide to lender/tint with an accurate,and adeguat$supports,opinion of to markd take of to subject property.
Property Address 2007 81st Ave City Greeley Sate CO Zip Code 80634-9665
Borrower Keiser Omer of Public Record Bair County Weld
Legal Description GR ORM1-2 L8 BLK 2 OWL RIDGE MINOR BLOCKS 1 8 2 SFTUS
Assessor's Parcel* 095917218008 Tax Year 2008 R.E.Taxes$ 2,135.76
Neighborhood Name Owl Ridge Map Reference P.(Pierson) Census Tract 0014.01
Occupant IN Owner ❑Tenant ❑Vacant Special Assessments$ 0.00 ®PW HOA E 200.00 a4 per year ❑per month
Property Rights Appraised Z Fee Since n Leasehold ❑Otlrr(describe)
Assignment Type ®Purchase Transaction ❑Refinance Transaction ❑Other(describe)
Lender/Client First National Bank Address 1204 West Ash Sheet,Windsor,CO 80550
Is the subject property currently offered for sale or hash been offered for sale in the twelve moos prior to the effective dale of lit appraisal? IN Yes ❑No
Report data sources)used,offering price(s),and date(s). This home is for sale by owner.
I (Arid ❑dd rot analyze to contract tor sale for to subject purchase transaction.Emlain to results of to analysis of the contract for sale or wiry to analysis was riot
performed. Standard Contract
Contract Price$248,500 Date of Contact 09/02/09 Is the property seller the ova of pubic record? 4 Yes ❑No Data Source(s) County Records
Is there any financial assistance(loan charges,sale concessions,gitt or domm paymerd assistance,dc.)to be paid by any pant on behalf of the borrower? ❑Yes N No
I Yes,report to total dollar amount and describe to items to be paid. None
Note:Race and the racial composition of the neighborhood am not appraisal factors.
Neiglnteu hood CWRtleMtla One"UNt Hoping Trends One-Unit Hotting Press lad Use%
Location ❑Urban N Suburban ❑Rural Property Values ❑Increassg NW* ['Decking MICE AGE One-Unit 80%%
Buil-tip El Over 75% ®2545% ❑tender 25% Demand/Supply❑Shortage ®h Balance ❑Over Supply $(000) (yrs) 24 Unit 10%%
Growth H Rapid IN Sate ❑Slow Malts Time ❑Under 3 mtis N 3-6 mtls H Over 6 nNs 190 Low New Multi-Family 5%%
Neighborhood Boundaries The subject is located north of Highway 34,south of 20th Street,east of 83rd 315 High 2006 Commercial 5%%
Avenue,and west of 71st Avenue. . 249 Pied. 2 Oter %
Neighborhood Descrton The subject is located in the west part of Greeley. The area consists of a complimentary mbdure of single:family
residences,commercial property,and vacant land and is located approidmately 0-5 miles from schools,major employment,pubic amenties,and
roughly 11 miss from I-25. Employment for the area and region is good with many employment centers nearby.
Market Conditions(including support for to above conclusions) Marketing conditions of the subject's neglkite hood appear stable at this time with marketing
times of approximately 3-6 months. Values are down compared to over 12 months ago,but appear to be stabilmng to increasing to increasing
slightly over the last 6 months. Conventional,FHA,and VA financing are popular in the subjects market area.
Dimensions N/A Area +/- 6.072 SF Shape Rectangular Wee Neighborhood/Avg
Specific Zorirg CassificationRM Zoning Description Residential Medium Density
Zoning Compliance®Legal ❑Legal Nonconforming(Granfatlmed Use)❑No Zaeng ❑Negal(describe)
Is the Nghest and best use of subject papery as imported(or as proposed per plans and speciticabena)to present use? ®Yes ❑No If No,describe
Uiiks Puhbie Other(describe) Pubic aMr(desaae) Oft-sle homeroom-Type Putt Private
Eectnicty ® ❑ Water ® ❑ Sired Asphalt E E
Gas ® ❑ Sanitary Sewer ® ❑ Aley None ❑ ❑
FEW Special Flood Hazard Area rites No FEMA Flood Zone C FEW Map# 0802660616C FEMA Map Date 9/28/1982
Are to Wks and of-site improvements typical for to market area? ®Yes H No N No,describe
Am Mae any adverse site conditions or Memel factors(easements,encroachments,emiromrmdal conditions,and uses,etc.)? H Yes [SING If Yes,describe
See attached addenda.
GenorNDawipUa Foundation EsadorDNUpbn mAsiab/Axndlan Mane nafaaa/eardfbn
Unts IX)One H One with Accessory Unit ❑Concrete Slab H Crawl Space laudation Walls Concrete/Good Floors Cupt/Dlo/Good
#of Stories One I Fol Basement ❑Partial Basemen Exterior Walls Stucco/Stone/Good Wale Painted/DrywalVGd
Type®Del.❑Att. ❑S-OW,/End Unit Baseman Area 1,774 set Roof Surface Asph.Sh./Good TrlryHnsh WoodStalied/Gd
N Etdsfng H Proposed H Under Cast.Basement Finish 95 %Gutters&Dowmpauts Metal/Good Bath Floor Tile/Good
Design(Stye) Ranch ❑Outside Entry/Eat ['Sump Pump Window Type DblPfe/Ins/Good Bath Wainscot Tie/Good
Year WI 2007 Years Evidence at H Infestation Storm Sash/Insulated Typical/Good Car Storage I I None
Effective Age(Yrs) 0 ❑ Sean* Steers Yes/Good Driveway *of Cars 2
Attic I I Nolo Haling®FWA MOB I❑Radiant Amenities I I Wooddove(s)/I Driveway Surface Concrete
❑Drop Stale ['Stairs ❑Ott Fuel Gas Z Rregace(s)# 2 ❑Face N Garage #al Cars 2
❑Floor N Scuttle Cooing N Central Air Cmdibomg ®Pak/Deck Deck ®Porch H Carport #of Cars
❑Ruesbed ❑)lead ❑adtdual In OMB ❑Pool ❑Oat ®At ❑Del. ❑Bullt4n
Appliances®Refrigerator ®flange/Ova NI Dishwasher IN Disposal ®Microwave ❑Washer/Dryer ❑(Miser(describe)
Freshest area above grade contains: 6 Roans 2 Bedrooms 2 Bath(s) 1,794 Square Feel of Gras tMrg Area Above Grade
Additional features(special energy efficient items,etc.). Personal property is not included in the final estimate of value. Please see attached addendum.
Describe to co digon of to properly(including needed repairs,deterioration,renovations,re nodeing,etc.). The subject is in overall new/good condition with an
effective age of approdmatey 0 years,and a remaining economic life of approximately 65-70 years. No functional or extemal depreciation was
noted. No repairs were noted as being needed.
Are there any physical deficiencies or adverse condfius that affect the ivadity,smallness,or structural integrity of the property? ❑Yes N No I Yes,describe
Does to property generally conform to the neighborhood(Notional city,stye,corklike,use,construction,Sc.)? N Yes ❑No If Na,describe
Freddie Mac Form 70 March 2005 Page 1 of 6 Fannie Mae Form 1004 March 2005
Form:M(14— for Windows'appraisal software by a ti made.inc.—1403ALAMODE
!rile No.0909KEINERI Page#41
Uniform Residential Appraisal Report FTk#0909KEINER
There are 6 comparable properties current)/offered for sale in to subject neighborhood ranging in price from$ 210,000 to$ 299,900 .
There are 15 comparable sales in Rte subjed neighborhood within the past Mitre months ranging in sale price from$ 190,000 to$ 315,000 .
FEATURE I SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 COMPARABLE SALE#3
Address 2007 81st Ave 2002 81st Avenue Court 2009 81st Avenue Court 2025 81st Avenue Court
Greeley,CO 80634-9665 Greeley,CO 80634-9665 Greeley,CO 80634-9665 Greeley,CO 80634-9665
Predmlty to Subject 0.06 miles 0.06 miles 0.11 miles
Sale Price $ 248,500 $ 250,000 $ 237,000 $ 235,000
Sale PriW&oss Uv.Area $ 138.52 sq.h.$ 118.20 seta. S 152.12 sett. $ 147.98 sq.fL
Data Source(s) MLS#587164 DOM=60 MLS#587958 DOM=57 MLS#592920 DOM=8
Verification Source(s) County Records County Records County Records
VALUE ADJUSTMENTS DESCRPTION DESCRPTION +(-)S Adpsbnent DESCRPTION +(-)$Adjusbrem DESCRPTION +(-)S Adjustment
Saks or Rowing Corry Fix FHA Fu-REO +10,000 Cash
Concessions No Concessions Concessions -7,500 No Concessions
Date of Sale/Time 03/13/09 04/01/09 06/12/09
Location SuburbarVAv13 Suburban/Avg Suburban/Avg Suburban/Avg
Leaseiltl/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
Sts +/- 6,072 SF +/-6,461 SF +/-6,970 SF +/-6,752 SF
New Neighbrhd/Avri Neighbrhd/Avq Neghbr d/Avq Neighbrt,d/Avg
Design(Style) Ranch Two Story Ranch Ranch
Duality of Construction Stucco/Stn/Gd Stusco/Stn/Gd StuccolStrt/Gd Stuco/Stn/Gd
Actual Age 2 Years 3 Years 2 Years 3 Years
Condition New-Good Good Good-As Is +5,000 Good
Above Grade Total Brims. Baths Total 8drms. Bats Total Bans. Bats Total Berns. Baths
Reran Cam 6 2 2 7 3 2.5 -1,000 6 2 2 6 2 2
Gross Linng Area 1,794 sett. 2,115 sq.ft. -17,655 1,558 sq.h. +12,980 1,588 sq.h. +11,330
Baseom8 Addled 1,774 Sg.Ft. 1,380 SF +3,940 1,558 SF +2,160 1,588 SF +1,860
Roos Below Grade 1,685 FiN1 BA 1,311 Fin/1 BA +5,610 1,509 Fir/1 BA +2,640 1,509 Fin/1 BA +2,640
Functional IMO Average Average Average Average
Heating/Cooling GFA/C-Air GFNC-Air GFNC-Air GFA/C-Air
Energy Efficient Kerns Dbl Pn W ndows Dbl Pn Wndows Dbl Pn W ndows DOI Pn W ndows
GaraWCarporl 2 AIL Garage 2 Att.Garage 2 Att.Garage 2 All Garage
Porch/Patio/Deck Porch,Deck Porch.Deck Porch,Deck Porch,Patio
Fireplace Two Fireplaces Two Fireplaces Two Fireplaces Two Fireplaces
Landscaping/Avg Sprinkler/Good Sprinkler/Good Sprinkler/Good Sprinkler/Good
Not Adjustment(Total) n+ ® - $ 9,105 PI+ ❑- $ 25,280 ®+ ❑ - $ 15,830
Adjusted Sale Rice Net Adj. 3.6% Net Adj. 107% Net Adj. 63%
of Comparables Gross Adj. 11.3%$ 240,895 Gross Adj. 17.0%$ 262,280 Gross Adj. 6.7%S 250,830
I ®did I I did not research the sale a bander history of to subject properly and comparable sales.ff not,0 plain
My research ®did ❑did not reveal any prior sales or transfers of the subject pmpety for the three years prior to the effective date of this appraisal.
Data Sance(s) MLS,Realist.com,County Records
My research ®did ['did not reveal any prior sales or transfers of the comparabe sales for the year prior to the dale of sale of the comparable sale.
Data Source(s) MLS,Realist.com,County Records
Report the results of the research and analysis of the prior sale or bander Nstay of to subject property and comparable sales(report additional prior saes on page 3).
ITEM SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 COMPARABLE SALE#3
Dale of Prior Sale/Transfer 07/14/09 12/31/08 01/06/09 03/23/09
Price of Prior Sale/Transfer $150,000 Unknown-Public Trust SI. Fannie Mae/Public Trustee $190,000
Data Source(s) County Records/Realist County Records/Realist County Records/Realist County Records/Realist
Effect's Dale of Data Source(s) 09/21/2009 09/21/2009 09/21/2009 09/21/2009
Analysis of prior sale or transfer history of to subject property and comparable sales The subject was was purchased from the public trustee sale for
$150,000 on 07/14/09. Comp one's most recent transfer was 12/31/08 when Jason Rothe bought the home from the pubic trustee sale. The
purchase price for that is unknown. He then sold the home on 03/16/09 for$250,000 as a normal anus length purchase. That home was
purchased prior to that on 07/13/07 for$450,000. Comp two went back to the bank on 01/06/09. Comp three was purchased from the public
trustee sale on 03/23/09. Comp four was a short sale,previous sale more than 12 months ago. Comp foe is an active listing with the most recent
sale in June of 09. Comp sec's an active listing of a bank owned Dmperty.
Summary of Sales Comparison Approach See Attached Addendum
Indicated Value by Sales Comparison Approach$ 249,000
Indicated Value by:Sales Comparison Approach$ 249,000 Cost Approach Oidevebped)$ 298,520 Income Approach(d developed)$
See Attached Addendum
This appraisal is made®"as is". H subject to completion per piers and specifications on to basis of a hypothetical condition that the improvements have been
completed, n subject to the following repairs or alterations on the basis of a hypothetical condition that to repairs or aerations have been completed,or❑abject to the
taming required inspection based on to adaordory assumption that to condition or deficiency does not require alteration or repair: No conditions,the appraisal is
made"as is". Certification and limiting conditions are attached.
Baled on a complete visual inspection of the Interior and exterior eras of the subject properly,defined scope of work,statement of assumptions and limiting
conditions,and appraisers certification,my(ow)opinion of the market value,as defined,of to real property that is the subject of this report S
$ 249,000 ,a9 of 09/18/2009 ,which is the date of inspection and the effective date of this appraisal.
Freddie Mac Form 70 March 2005 Page 2 of 6 Fannie Mae Form 1004 March 2005
Form 1004—TOTAL Inc Widows'appraisal software by a la mode,inc.—1-800AlAMO(E
!File No.0909KEINERI Pace#51
Uniform Residential Appraisal Report Re#0909KEINER
COST APPROACH TO VALUE(not mqubed by Fannie Mee)
Provide adequate information for the Imder/dknt to repicate the below cost figures and calculations.
Support for the opinion of site value(summary of comparable laid sales a other methods for estimating site value) Site value based on county assessor information
as well as sales of similar sized lots in the general market area.
ESTIMATED ❑REPRODUCTION OR VI REPLACEMENT COST NEW OPINION OF SITE VALUE 4 50,000
Source of cost data RS Means DWELLING 1,794 Sq.R.@$ 95.00 =$ 170,430
Chaffy rating from cost service Good Egecdve date of cost data 2009 1,774 Sq.FL @$ 35.00 =$ 62,090
Cements on Cost Approach(gross Fig area calculations,depredation,dc.) _ =S
The RS Means handbook was considered. The economic factors,and Garage/Carport 550 Sq.FL @ S 20.00 =S 11,000
the depreciation rate of the area were determined by the appraiser using Total Estimate d Cost-New =$ 243,520
market data in this specific area. Land to value ratio is 18%,which is Less Physical I Functional Diana'
typical for the area. Due to the current market,the sales comparison Depreciation =S(
approach is felt to be much more accurate in determining value Depreciated Cost of Improvements 4 243,520
compared to the cost approach. This approach was completed,but Idle 'Alas'Value of Site Improvements 4 5,000
weight was put on it.
Estimated Remaining Economic Life(HUD and VA only) 70 Years INDICATED VALUE BY COST APPROACH 4 298,520
INCOME APPROACH TO VALUE(not retpted by Fannie Na)
Estimated Madly Market Rod$ N/A X Gross Rent Multiplier N/A =$ Indicated Value by Income Approach
Summary of Income Approach{mcYding support for market rent and GRM)
PIfJECT INPoRMATEN FOR PIRA(N oppge+Me)
Is tie developer/builder in control of the Homeowms'Association(HEW? ❑Yes IC No Urit type(s) ffel Detached D Macled
Provide the following information for PUDs ONLY a the developer/buikkr is in torero'of the HOA and the subject property is an attached dwefng unit.
Legal Name of Project
Total number of phases Total number of oils Taal nurrda of ads sold
Total number of strati Total miter of units for sale Data source(s)
Was the project created by the conversion of existing buildilg(s)info a PUD? Fl Yes ❑No N Yes,date o caxasion.
Does the project contain any nvl&dwcing onfls? ❑Yes Fl No Data Source
Are the units,amen dements,and recreation facilities complete? Fl Yes ❑No If No,describe the status of corpletion.
Are the wing elements eased toroth the Ho eovmers'Association? ❑Yes ❑No If Yes,describe the rectal tons and optics.
Describe common elements and recreational fadlles.
Freddie Mac Form 70 March 2005 Page 3 of 6 Fannie Mae Form 1004 March 2005
Form 1004—'TOTAL for Widows'appraisal software by a la mode,inc.—1-800-AJ MOLE
tile No 0909KEINERI Pace#6]
Uniform Residential Appraisal Report He 0909KEINER
This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;
including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of a
manufactured home or a unit in a condominium or cooperative project.
This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,
statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended
use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may
expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal
assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do
not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's
continuing education or membership in an appraisal organization, are permitted.
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the
reporting requirements of this appraisal report form, including the following definition of market value, statement of
assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual
inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the
comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources,
and (5) report his or her analysis, opinions, and conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the
subject of this appraisal for a mortgage finance transaction.
INTENDED USER: The intended user of this appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open
market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming
the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and
the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both
parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a
reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms
of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold
unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are
necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are
readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing
adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional
lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical
dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's
reaction to the financing or concessions based on the appraiser's judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is
subject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title
to it, except for information that he or she became aware of during the research involved in performing this appraisal. The
appraiser assumes that the title is good and marketable and will not render any opinions about the title.
2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.
The sketch is included only to assist the reader in visualizing the property and understanding the appraisers determination
of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency
(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an
identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or
implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,
unless specific arrangements to do so have been made beforehand, or as otherwise required by law.
5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or
she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisal
report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the
property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,
adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such
conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist.
Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as
an environmental assessment of the property.
6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory
completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will
be performed in a professional manner.
Freddie Mac Form 70 March 2006 Pape 4 of 6 Fannie Mae Form 1004 March 2005
Form 1004—TOTAL for Wndows'appraisal software by a h mode,Inc.—1-6gUPLAM0DE
(File No.0909NEINERI Paee#71
Uniform Residential Appraisal Report Fie et 0909KEINER
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in
this appraisal report.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition
of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the
livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal
Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in
place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales
comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach
for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop
them, unless otherwise indicated in this report.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for
sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject
property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior
to the date of sale of the comparable sale, unless otherwise indicated in this report.
7. I selected and used comparable sales that are locationally,physically,and functionally the most similar to the subject property.
8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that
has been built or will be built on the land.
9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject
property and the comparable sales.
10. I verified,from a disinterested source,all information in this report that was provided by parties who have a financial interest in
the sale or financing of the subject property.
11. I have knowledge and experience in appraising this type of property in this market area.
12. I am aware of,and have access to,the necessary and appropriate public and private data sources, such as multiple listing
services, tax assessment records, public land records and other such data sources for the area in which the property is located.
13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from
reliable sources that I believe to be true and correct.
14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject
property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I
have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the
subject property or that I became aware of during the research involved in performing this appraisal. I have considered these
adverse conditions in my analysis of the property value,and have reported on the effect of the conditions on the value and
marketability of the subject property.
15. I have not knowingly withheld any significant information from this appraisal report and,to the best of my knowledge, all
statements and information in this appraisal report are true and correct.
16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which
are subject only to the assumptions and limiting conditions in this appraisal report.
17. I have no present or prospective interest in the property that is the subject of this report,and I have no present or
prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or
completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital
status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the
present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.
18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not
conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a
predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of
any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending
mortgage loan application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I
relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal
or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this
appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make
a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no
responsibility for it.
20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that
ordered and will receive this appraisal report.
Freddie Mac Form 70 March 2005 Page 5 of 6 Fannie Mae Form 1004 March 2005
Form 1004—'TOTAL fur Willows'appraisal software by a b mode,inc.—1-8OOWM100E
File No.0909KEINERI Pate#81
Uniform Residential Appraisal Report Fie#0909KEINER
21. The lender/client may disclose or distribute this appraisal report to: the borrower, another lender at the request of the
borrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other
secondary market participants; data collection or reporting services; professional appraisal organizations; any department,
agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to
obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal
report may be disclosed or distributed to any other party (including, but not limited to,the public through advertising, public
relations, news, sales, or other media).
22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain
laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice
that pertain to disclosure or distribution by me.
23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage
insurers, govemment sponsored enterprises, and other secondary market participants may rely on this appraisal report as part
of any mortgage finance transaction that involves any one or more of these parties.
24. If this appraisal report was transmitted as an "electronic record-containing my "electronic signature," as those terms are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this
appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and
valid as if a paper version of this appraisal report were delivered containing my original hand written signature.
25. Any intentional or negligent misrepresentabon(s) contained in this appraisal report may result in civil liability and/or
criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States
Code, Section 1001, et seq., or similar state laws.
SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:
1. I directly supervised the appraiser for this appraisal assignment,have read the appraisal report,and agree with the appraiser's
analysis, opinions, statements, conclusions, and the appraiser's certification.
2. I accept full responsibility for the contents of this appraisal report including,but not limited to,the appraiser's analysis,opinions,
statements, conclusions, and the appraiser's certification.
3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the
appraisal firm), is qualified to perform this appraisal,and is acceptable to perform this appraisal under the applicable state law.
4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal
report was prepared.
5. If this appraisal report was transmitted as an "electronic record" containing my"electronic signature," as those terms are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this
appraisal report containing a copy or representation of my signature,the appraisal report shall be as effective, enforceable and
valid as if a paper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER SUPERVISORY APPRAISER(ONLY IF REQUIRED)
Signature �cr . Signature
Name Margaret Maze Name
Company Name Margaret C.Maze Company Name
Company Address 4221 West 23rd Avenue Company Address
Greeley,CO 80634
Telephone Number 970-371-8305 Telephone Number
Email Address aultmaze(aamsn.com Email Address
Date of Signature and Report 09/18/09 Date of Signature
Effective Date of Appraisal 09/18/2009 State Certification#
State Certification# CR40022861 or State License#
or State License# CR 40022861 State
or Other(describe) State# Expiration Date of Certification or License
State CO
Expiration Date of Certification or License 12/30/2010 SUBJECT PROPERTY
ADDRESS OF PROPERTY APPRAISED El Did not inspect subject property
2007 81st Ave ❑ Did inspect exterior of subject property from street
Greeley,CO 80634-9665 Date of Inspection
APPRAISED VALUE OF SUBJECT PROPERTY$ 249,000 9 Did inspect interior and exterior of subject properly
LENDER/CLIENT Date of Inspection
Name COMPARABLE SALES
Company Name First National Bank
Company Address 1204 west Ash Street,Windsor,CO 80550 9 Did not inspect exterior of comparable sales from street
9 Did inspect exterior of comparable sales from street
Email Address Date of Inspection
Freddie Mac Form 70 March 2005 Page 6 of 6 Fannie Mae Form 1004 March 2005
Form 1004—TOTAL for W,dowc appraisal software by a la mode,be.—1-80D-AIAMOOE
File No.0909KEINERI Pate#9I
Uniform Residential Appraisal Report FINN 0909KEINER
FEATURE I SUBJECT COMPARABLE SALE#4 COMPARABLE SALE#5 COMPARABLE SALE#6
Address 200781st Ave 210482nd Avenue 202581st Avenue Court 201981st Avenue
Greeley,CO 80634-9665 Greeley,CO 80634-9665 Greeley,CO 80634-9665 Greeley,CO 80634-9685
Pointy to Subta.1 0.06 miles 0.06 miles 0.01 miles
Sale Price $ 248,500 $ 250,000 $ 249,000 $ 218,000
Sale Price/Gross Liv.Area $ 138.52 sq.8.$ 130.21 sq.tt $ 156.80 sq.ft. $ 137.28 set
Data Source(s) MLS#559280 DOM=344 MLS#602599 MLS#597436 -
Veification Source(s) County Records County Records County Records
VALUE ADJUSTMENTS DESCRIPTION OESCRPDOM +(-)$Adjustrnai DESCRIPTION +(-)$Adjustment DESCRPTION +(-)$Adjustment
Saes a Rrendng Com Foc-SSale +10,000 Active Listing Cony Fix-REO +10,000
Concessions No Concessions No Concessions No Concessions
Date of Sale/lime 01/23/09 Active Listing -9,960 Active Listing 4,360
Location SuburbaNAvg SuburbaNAvg SuburbaNAvg SuburbaNAvg
Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
Site +/- 6,072 SF +/-6,534 SF +/-6,752 SF +1-6,098 SF .
View Neighbrhd/Avg Netghbrhd/Avg Nelghbrhd/Avq Neighbrhd/Avg
Design(Style) Ranch Ranch Ranch Ranch
Quality of Construction Stucco/StNGd Stucco/SINGd Stucco/Stn/Gd Stuoco/Stn/Gd
Acura Age 2 Years 2 Years 2 Years 2 Years
Condlton New-Good Good-As Is +5,000 Nev.Good Good-As Is +5,000
Above Grade Total Mars. Baths Total Baths. Baths Taal Bans. Balls Total Bons. Baths
Room Court 6 2 2 6 2 2 6 2 2 6 2 2
Gross LMrg Area 1,794 sq.0. 1,920 sgfL -6,930 1,588 sq.h. +11,330 1,588 sq.ft. +11,330
Basarel8 Bitted 1,774 Sq.Ft. 1920 SF -1,460 1.588 SF +1,860 1,588 SF +1,860
Rooms Bebw Grade 1,685 FiN1 BA 1,824 Fin/1 BA -2,0851,509 Fin/1 BA +2,640 1,509 Fin/1 BA +2,640
Functional U8lity Average Average Average Average
Healing/Cooling GFA/C-Air GFNC-Air GFA/C-Air GFA/C-Aff
Energy Efficient Ness Dbl Pn Wndows Dbl Pn Wndows Dbl Pn Wndows Dbl Pn Wndows
Garage/Carpot 2 A8.Garage 2 Alt.Garage 2 AD.Garage 2 Alt.Garage
Por*Pallo/Deck Porch,Deck Porch,Patio Porch,Patio Porch,Patio
Fae9ace Two Fireplaces Two Fireplaces Two Fireplaces Two Fireplaces
Landscaping/Avg Sprinkler/Good Sprinkler/Good Sprinkler/Good Sprinkler/Poor +2,500
Net Adjustment(Total) N + ❑- $ 4,525 r + ❑ - $ 5,870 N+ ❑- $ 28,970
Adjusted Sale Price Net 1.8 % Net 2.4 % Net 13.3 %
of Compar'abes Grass 102 % $ 254,525 Grass 10.4 % $ 254,870 Gass 17.3 % $ 246,970
Report the results of to research and analysis of tic prior sale or transfer history of lie subject properly and comparable sales(report additional prior sales on page 3).
ITEM SUBJECT _ COMPARABLE SALE#4 COMPARABLE SALE#5 COMPARABLE SALE#6
Date of Rior SaWinrsla 07/14/09 09/19/07 06/12/09 03/12/09
Rice of Prior SaWTamler $150,000 $425,000 $235,000 .Fannie Mae/Public Trustee
Data Source(s) County Records/Realist County Records/Realist County Records/Realist County Records/Realist
Effect's Date of Data Source(s) 09/21/2009 09/21/2009 09/21/2009 09/21/2009
Analysis of prior sale or transfer history of the subject property and compare*sales
Analysis/Comments
Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005
Form I004.(AC)—TOTAL for Windows'appraisal software by a la made,it—1-f0-ALAM00E
'Me No.0909KEINERI Pale#101
Market Conditions Addendum to the Appraisal Report Fie No. 0909KEMER
The purpose of this addendum is to provide the lender/cimk with a clear and actuat@ understanding of the market lads and conditions prevalent in the subject
neighborhood.This Is a rerpired addendum for al appraisal repots with an effective date an or after April 1,2009.
Properly Address 2007 81st Ave City Greeley Slate CO ZIP Cade 80634-9665
Borrower Keiner
Instructions:The appraiser mist use re information required an this form as re basis for his/ber conclusions,and mist provide support for base conclusions,regarding
housing bads and over]marital canndifo s as reported In the Neighborhood sectim of the appraisal report form.The appraiser must fill in all the intonation to the edtnt
it is avaibble and ramble and most provide analysis as indicated below.If any required data is unavailable or is considered unreliable,he appraiser must provide an
aglanafmn.It is recognized that vial all data source will be able to provide data for the shaded areas below,Elites available,Imweva,the appraiser must include the data
h the anayds.If data sources provide the required information as an average instead i the median,the appraiser shared report the available figure and identify it as an
average.Sales and(stings nest be properties that compete Mr the subject property,determined by applying the criteria that ware be used by a prospective buyer of the
subject properly.The appraiser mat @plain any anomalies in the data,such as seasonal markets,new construction,foreclosures,etc.
Inventory Maly* Prior 7-12 Molds Prior 4-6 Mons Carat—3 Marts Overall Trend
Total#of Comparable Saks(Semen) 6 8 1 I I Increasing LI Stable I I Decfning
Absorption Rate(foal Sales/Months) 1.00 2.67 0.33 ❑eaeasing ®Stable Decking
Total#of Comparable Active Listings I I Declining Stable _ Increasing
Morris of Hosing Supply(Total listings/Ab.Rate) 9 Decking Stable Ncreasing
Wan Sele&List Mos,0O,SWAit% Prior 7-12 Mortis Prior 4-6 Made Curved-3 Months Overall Trend
Median Comparable Sae Price 255,000 237,500 315,000 ❑Increasing ®Stable ❑Destining
Median Comparable Sales Days on Market 81 81.5 554 ❑Decking [Stable ❑Increasing
Median Comparable List Price J Increasing O Stable Oecling
Median Comparable Lismgs Days on Market ']Decking Stable [increasing
creasing
Median Sale Pike as%of List Price 95.71 97.75 96.92 ❑Increasing ®Stable 9 Declining
SS-(developer,builder,W.)paid financial assistance prevalent? 9 Yes 9 No 9 Declining ❑Stable ❑kwrasinp
[Again in detail the seer concessions bads for he past 12 months(e.g.,seller contributions increased from 3%to 5%,incmaskg use of buydowrs,closing costs,credo
fees,options,etc.). It is common for sales to have seller concessions that typically go toward sellers closing costs and pre-paids.
Aretorecksise sales(AE0 sales)a factor in the market? ®Yes 9 No Oyes,open(including the trends in listings and sales of foreclosed properties).
Foreclosures are very prevalent in this subdivision. In the last 12 months there were 11 REO sales and 1 short sale. There are currently
several bank REO properties that are active listings or pending listings. The REO properties have aiur.ted the sales price of all the homes in
the subdivision drastically compared to over a_year ago when the average price was over$1000000 more than the average price for the last 12
months.
Cite data sores for above Infornabon. MLS,County Records,Realist,Local Realtors
Somadze the above intonation as support for your conclusions in the Neighborhood section of the appraisal report=A you used any additional intonation,such as
an analysis of perking sales and/or need and Sawn listings,to formulate your cacksions,provide both an apmnagon and support for your coecesions.
Overall it appears that the values have stabilized in this subdivsion. The average DOM is fairy stable. The last 3 months there was only one
sale and it had been on the market a very long time,but the average DOM is under 3 months. There was only one sale the last 3 months,but
there are several pending sales that should go through fairly soon. Homes are selling around the 95%-98%of list price.
Nmesubject lea unit n a rnmmnum orcaaperlte project,complete Pt Steil; Prolst tame:
Subject Project Data Prior 7-12 Marls Prior 4-6 Moms Current-3 Marls Overall Trend
Total#of Comparable Sales(Seined) U Increasing Stable U Decking
Absorption Rate(Total Sales/Morths) 9 Increasing _ Stable I I lambing
Total#of Active Comparable listings — Desiring Stable [Increasing
Marls of Uri Supply(fob listings/Ab.Rate) Deckle Snide I kr/easing
Are foreclosure sale(REO ales)a factor in the project? Ll Ys LI No !ryes,indicate the number of REO isles and epmin the bads in iamns and sales of
forecksed properties.
Sonnetize the above trends and address the impact on the subject unit and project
Sgnaere `elaL".. Signature
Appraiser Name Margaret C.Maze Supervisory Appraiser Name
Compare/Name Margaret C.Maze Company Name
Company Address 4221 West 23rd Avenue Greeley,CO 80634 Company Address
State License/Certification# CR40022861 State CO State License/Certification# State
Email Address aultmaze@msn.com Email Address
Freddie Mac Form 71 March 2009 Page 1 or 1 Fannie Mae Farm 1004MC Mach 2009
Fan 1004AC2—'7OTAL for Windows'appraisal sorbet by a la mode,pm.—1800-AIAMLOE
(File No.0909KEINEBI Paoe#11I
Supplemental Addendum He No. 0909KEINER
Borrwia/Cleo Keiner
Property Address 2007 81st Ave
City Greeley County Weld State CO Zip Code 80634-9665
Lender First National Bank
•URAR:Site Comments
The subject property is located on a quiet,residential street. The subject has a slightly sloping site,sloping down to the street,
and is well landscaped with trees,shrubs,and a lawn in the front and rear of the house. The lot is approuumately all usable.
The subject has an average view,mostly of the neighborhood. The home sits one house from 20th Street which has a fair
amount of traffic. The noise from the traffic could be heard from the front and back yards,but that same traffic noise would be
heard by all of the homes in the neighborhood. There were no apparent adverse easements or encroachments. The title
report was not reviewed by the appraiser.
•URAR:Sales Comparison Comments
SALES COMPARISON COMMENTS:
After careful analysis of the subject's market,4 sales and 2 listings were selected and utilized in the Sales Comparison
Approach. Each of these comparables is located within the subjects immediate market area and are considered good
indicators of value. All sales comparables are verified as recorded dosed sales. NI dates shown are contract,listing,
pending,or recording dates. The subject's dominant features are age,size,location,and condition. These homes were
chosen as comparables due to their overall similarity to the subject. These comparables bracket the subject's dominant
features,which are listed above. It should be noted,however,that not an of these features are always bracketed,in certain
cases,it is not necessary to do so. Adjustments have been made on the following basis:
Site adjustments have been based upon the estimated usable area of the individual properties. Comparable adjustments were
then made based upon paired sales analysis. No adjustments have been made for government financing puts rims,such as
VA and FHA,which are typical in the market area. Full baths were adjusted at$1500 each,half baths at$1000. Because this
market appears to place a greater weight on living area rather than room totals;Gross Living Area(GLA)adjustments were
made in lieu of bedroom or other room adjustments. Variances in GLA have been adjusted at$60 a square foot. These rates
are estimates of the market value contribution of these improvements derived through paired sales analysis and are not an
actual building or reconstruction cost. Whenever possible,comparables that have sold within 6 months are used. However,
there are situations when the best comparables that are available have sold wtlrin 12 months,and this is within USPAP
guidelines. When a comparable is older than 6 months,a time adjustment may be needed.
Market Analysis:
In this subdivision,over the last 12 months there have been 15 sales and out of those 15 sales,11 were bank owned
properties,1 was a short sale,and the other 3 were standard,arms length transactions. There are currently two active listings,
both private owner,two active/backup listings,both bank REO's,and two pending sales,both bank owned REO's.
The average sales price for the year was$248,773 with the low price being$190,000 and the high being$315,000. This
included homes in the Burrows portion of the subdivision which is where the subject is located as well as homes in the other
part of the subdivision. The average DOM was 127 with the lowest number of DOM of 6 and the highest of 554 days.
Breaking the year down further,there were 6 sales the prior 7-12 months with median price of$255,000,8 sales the last 4-6
months with a median sales price of$237,500,and only 1 sale the last 3 months for$315,000.
The previous year there were 6 sales with the low price of$266.000 and the high of$394,800 with average price of$334,116.
Based on this information,the values in this subdivision has decreased dramatically compared to a year ago,but appear to
have stabilized at the new,lower prices. The high number of foreclosures has significantly affected the values in the
subdivision.
APPRAISER'S COMMENTS:
The subject is a very rice ranch style home that is located in a newer subdivision on the west side of Greeley. The subdivision
has some houses,but,very few new homes have built over the last year so there are lots of vacant lots. The part the subject
is located in,the Burrows,has marry homes that are similar to the subject in look,style,and quality.
The home appears to have been purchased as a foreclosure in My of this year. It was purchased for$150,000. At the time of
that purchase the home was not complete. It had the bones of the home finished to the sheet rock stage,but had none of the
other finishes complete. The current owners finished the walls,added all the cabinets,counters,flooring,lighting,etc.so that
it matched,or in some cases the finishes exceeded the quality of the other homes in the subdivision. The current owners also
put in the landscaping,sprinkler system.etc. The final value of the home has increased significantly since the purchase two
months ago because now the home is complete and livable and has very nice high end finishes verses the home being at the
unfinished,sheet rock stage.
The main level of the home has a great room with living area,dining area and kitchen. There is a fireplace in the living room
and the home has nice features inducing builnose comers,display shelving,high oeSirgs,iron work on the stairway,custom
lighting,and nice carpet throughout. The kitchen has very nice cabinets,granite counters,and stainless steel appliances.
There is a large master bedroom with trey ceiling. The master has a huge master bath with jetted tub,oversized walk in
shower,dual sinks,custom tile floor and tub surround. There is a huge walk in doset with built in shelving that is accessible to
the laundry room. The laundry room has tile floors,built in cabinets,and sink. There is a guest bedroom on this level with trey
ceiling and a full bath with tile floor,tub surround,and counters.
The basement is 95%finished with a family room,recreation room area,wet bar,two bedrooms,a full bath,and the utility
room. The family roan has a fireplace. The wet bar is large,has the counters and bar+siavh,custom cabinets,and a small
refrigerator. The two bedrooms are nice sized,bright,and have nice sized closets. The bath has tile floor and tub surround.
The exterior of the home is in good condition. The home is stucco with stone. There is a small front porch area and a back
Form TWO—'TOTAL for Vannes'appraisal software by a la mode,Inc.—1-1 -#L M00E
1FIle No.09091 FINERI Pam#121
Supplemental Addendum Fie No. o9O9KEINEa
Borrower/Mot Keener
Properly Address 2007 81st Ave
CM Greeley Coati Weld State CO 7p Code 80634-9665
Lade First National Bank
deck. The yards are landscaped with grass,rock,shrubs,and perennials. The yard has a sprinkler system. There is a two
car attached garage that has been sheelrocked and taped and it has a garage door opener.
Comparables 1-6
Comps were chosen that bracket the subject's gross living area,basement size,age,and are similar in room count,bath
count,garage count,and overall condition. NI the comps are from the subjects subdivision,in the same section that the
subject is located in. I would typicaay not use foreclosure properties as comps for a home that was not a foreclosure sale,but
since foreclosures make up the majority of this subdivisions sales they directly affect the price of the home. I felt it was
important to stay in the subdivision as homes in the subdivision,whether foreclosure or standard sale,are the best comps for
the subject I have made adjustments for homes that were bank owned or short sale as foreclosure sales tend to sell below
the typical sales prices and tend to be sold in'as is'condition and have often been vacant for a long time. Shod sales tend to
sell for less due to the hassle of getting the short sale approved and the condition of the home is typically sold'as is'so while
the home may be well maintained,the buyer has to take the risk of any problems the home may have,either for shat sale or
foreclosure.
Comp one sold just over 6 months ago. This comp is a two story soh was adjusted for superior bath count,superior gross
living area,inferior basement size. This comp was not a foreclosure sale.
Comp two sold in April of this year. This comp was a foreclosure so an adjustment of$10,000 was given for this. Other
adjustments were for sales concessions. The home is new and has similar finishes as the subject but has been vacant for a
while and was sold as is so an adjustment for inferior condition was made. Other adjustments were for differences in square
footage.
Comp three sold in June and was a typical,arms length sale. This comp was adjusted for inferior square footage above and
below grade.
Comp four sold in January of this year. This comp was a short sale so an adjustment was made for this as well as for inferior
condition as it was sold as is. Other adjustments were for superior above and below grade square footage.
Comp five is an active listing of a home that is not in foreclosure. This comp recently sold,and is used as comp three. This
comp was adjusted for difference in list verses sales price,and inferior above and below grade square footage.
Comp six is an active listing of a home that is currently bank owned. This comp was given an adjustment for being bank
owned and for inferior condition. Other adjustments were for differences in square footage. This comp's yard is in poor
condition so an adjustment was made for this as well. All the comps are felt to be good indicators of the subjects overall
value.
DISCUSSION OF EXCEPTIONS TO FNMA GUIDELINES:
FNMA suggests comparables be within six months,one mile,and have gross adjustments less than 25%,net adjustments less
than 15%,and individual adjustments not exceeding 10%.
It was necessary to exceed the desired six months time due to limited sales of homes similar to the subject.Every effort was
made to locate the most current sales within the subjects immediate market area.Time adjustments were considered but not
deemed necessary due to stable market conditions over the past six to twelve months.
INTENDED USE:
The intended use of this analysis and report is to assist the client with mortgage underwriting decisions.
INTENDED USERS:
This report is intended for use by First National Bank and the secondary market Use by others is not intended.
PURPOSE OF THE APPRAISAL:
The scope of the assignment is to estimate the market value of the property identified above and to prepare a narrative report
of my findings and conclusions.
The Scope of Work is defined in the Uniform Standards of Professional Appraisal Practice,2006 Edition published by The
Appraisal Foundation as follows:
The amount and type of information researched and the Analysis applied in an assignment. Scope of work includes,but is not
limited to the following:
The degree to which the property is inspected or identified;
The extent of research into physical or economic factors that could affect the property,
The extent of data research,and
The type and extent of analysis to arrive at opinions or conclusions.
The scope of work decision is based on key assignment elements including the intended use of the appraisal report,the
intended users of the appraisal report,the purpose of the appraisal,including the type and definition of value. The intended
use and users provide an objective basis for deciding how much information and analysis to include in the developing and
Farm TAW—'TOTAL fa Widows'appraisal software by a la nude,Inc.—1-00.ALAMOOE
Pie No.0909KEINERI Pape#131
Supplemental Addendum Fie No. 0909KEINER
8orroxa/Gird Keiner
Property Address 2007 81st Ave
co Greeley County Weld State CO Lp Cade 80634-9665
Let First National Bank
reporting prow:wens. The purpose and definition of value provide the basis for determining what kind of information and
analysis is to be included in the process. These three key elements are used to identify the relevant property characteristics,
the effective date of value and the general assignment conditions,induding the extent of the reporting process.
The appraisal process entailed an inspection of the property and improvements,site and neighborhood. The neighborhood as
well as the Highest and best Use of the property,are analyzed to better understand the subject and influences of the
surrounding area.
As part of this appraisal,I have made a number of independent investigations and analysis. I have relied on data retained in
my files that are updated regularty. The investigations undertaken and the major data sources used consist of the area and
neighborhood data,site description and analysis,market date inventory and analysis,and the highest and best use analysis.
The appraisal includes and examination of historical and market place data to be used to aid the appraiser in developing value
estimates for the property. County records and information obtained from sales date companies are retained in the appraiser's
work file,as well as information furnished by the dent.
Data was obtained on vacant land sales by researching the County Assessors records. Data sources included the County
Assessor's records and participants active in the market including agents. An attempt was made to verify data with buyers,
sellers and brokers to determine if the sales were arm's length as well as to confirm relevant characteristics of the property
sold.
Recent comparable sales were gathered,researched,and confirmed,then analyzed to determine estimates of value for the
subject property.
This analysis provides information essential to delineating the market for the subject property and to identifying its potential
competition. The results of this analysis advance the marketability and the highest and best use analysis for the subject
property.
The value indications from the approach used are reconciled into the final value estimate.
PRIVACY NOTICE:
In the course of performing appraisals,nonpublic personal information may be collected about the client and/or borrower. This
information is used to facilitate the services that are provided to the client and may include the information provided to the
appraiser by the client and/or borrower,or received from others with the client's authorization.
The appraiser does not disclose any nonpublic information obtained in the course of engagement with the clients to a
nonaffiliated third parties except as necessary or as required by law. By way of example,a necessary disclosure would be
unrelated third party consultants who need to know that information to assist the appraiser in providing appraisal services to
the client. My consultants employed are informed that any information they see as pan of an appraisal assignment is to be
maintained in strict confidence.
A disclosure required by law would be ordered by a court of competent jurisdiction with regard to legal action to which the
client is a party.
The appraiser will retain records relating to professional services provided to the client for a reasonable time to better assist
the client's needs. In order to protect the client and/or borrower's nonpublic information from unauthorized access by third
parties,the appraiser maintains physical,electronic and procedural safeguards that comply with professional standards to
insure the security and integrity of information.
PROPERTY RIGHTS APPRAISED:
The fee simple rights of ownership of the subject property have been appraised. The fee simple estate is defined by the
Dictionary of Real Estate Appraisal,Fourth Edition,published in 2002 by the Appraisal Institute as'absolute ownership
unencumbered by any other interest or estate,subject only to the limitations imposed by the government powers of taxation,
eminent domain,police power and escheat?
NON-REAL PROPERTY:
No persons property was included in the estimate of value.
ZONING ISSUES:
Statements regarding zoning compliance are intended only in the most general sense. Zoning and building ordinances vary
significantly from one municipality to another,and can be extremely detailed. The scope of this report does not include a
comparison of every potentially significant characteristic of the subject property's site and improvements relative to zoning and
building ordinances.
SITE:
Elevation of the dwelling above the road grade promotes surface drainage,which appears acceptable at the time of the
inspection. However,seasonal variations may occur and subsurface drainage conditions are unknown.
Unless otherwise noted,standard utility and right-of-way easements are insignificant to value. However,a current locational or
boundary survey,which was unavailable to the appraiser,may reveal encroachment.easements,zoning violations or other
matters of interest that could warrant modification of the appraised value.
Faze TA00—'TOTAL for Windows'appraisal software by a la mode,air.—l- -A.M100E
into No.0909KEINERI Pace 4141
Supplemental Addendum Hie No. 0909KEINER
Borrows/Clout Keiner
Properly Address 2007 81st Ave
City Greeley County Weld Slate CO Zip Code 80634-9665
Lender First National Banc
REAL ESTATE TAXES:
Enquires made of the County Treasurers Department confirms that all taxes are paid to date ad there are no outstanding
amounts due. The current taxes are$2,135.76.The county tax assessor showed a special assessment tax for last year of
$29,228.14 which made the total taxes for last year of$31363.90.
HIGHEST AND BEST USE-AS VACANT:
The subject is a 6,072 square foot rectangular shaped city lot. The site has a generally level topography and is not considered
to be problematic for most forms of development. The site is zoned RM-Residential Medium Density which allows
development with a single family residential unit. The surrounding area has been mainly developed with single and two story
residential units. The highest and best use of the land as vacant is development with a single family residential unit consistent
with the surrounding area.
HIGHEST AND BEST USE-AS IMPROVED:
The subject properly has been developed with a 1,794 sq.ft.one story residential unit with a full basement and other related
improvements. The improvements are commensurate in aesthetics and design with the surrounding area. No other physically
possible,legally permissible and economically viable use justifies the replacement or alteration of the existing improvements
as constructed. The highest and best use of the subject as improved is the continued use as a single family residential unit.
THE VALUATION PROCESS:
The Cost Approach is based on the premise that a buyer will not pay more for a property then it would cost to acquire the land
and create an equally desirable substitute property. This approach combines an estimate of market value for the vacant land
with the estimated cost of replacement or reproducing the improvements,less deductions for accrued depreciation. It is most
reliable when estimating the value of new or nearly new improvements,which are consistent with the best use of the land and
current market standards.
The Sales Comparison Approach estimates the subject's value by compering it with similar properties that have sold. This
analysis is most useful when the subject property is part of a uniform market in which recent sales are available. The
individual value indications form the sales are adjusted to reflect the physical and financial characteristics of the subject. The
most similar comparables are normally given the greatest consideration in the final conclusion. Typical units of comparison
for this approach are physical,such as price per square foot and price per unit.
The Income Capitalization Approach is based on the perspective of an investor motivated by bet return on capital. Net income
is the residual of rental collections after deductions are made for all expenses of normal operation,including an allowance for
credit loss and or vacancy,but excluding debt service and depreciation. The Gross Rent Multiplier(GM)converts the income
expectations into a value estimate. The Income Approach has been omitted from this analysis as the neighborhood is typified
by owner occupancy. There is limited data available on which to develop a reliable estimate of market value using this
approach. The omission of this approach is not considered to reduce the reliability if the overall concluded value.
RECONCILIATION:
The comparable sales were compared to the subject property for sales and financing concessions,date of sale,location,
interest conveyed,site,view,design and appeal,quality of construction,age of improvements,condition,GLA,bathroom
count,basement area and finish,functional utility,heating and cooling,energy efficient items,garage stalls and other site
improvements and amenities. The sales as adjusted appear reasonable,in-fine with the market and suggest a very narrow
value range for the subject property. Most weight was given to the comparables which reflect the lowest gross adjustments.
All quantitative adjustments were derived from paired sales analysis. Where data was not available the appraiser did not
make a quantitative adjustment but where appropriate used the relative or qualitative method to derive a value rage. The final
value estimates included considerations of both qualitative and quantitative methods. Most weight was given to the Sales
Comparison Approach in the overall value conclusion for the subject property. Based on the above I have concluded a Market
Value of the Fee Simple Interest in the subject property at$249,000.
EXPOSURE TIME:
An estimate of reasonable time for the subject property was based on the following when possible and appropriate:statistical
information about days on market for similar properties within the market area information gathered through sales verification.
Exposure time can best be described as the amount of time it would take to sell the subject property at the appraised value if
the sale had occurred on the effective date of this report. It is different then marketing time which is the amount of time it
might take to sell the property if it were put on the market on the effective date of this report. The subject is considered typical
of the market and the estimate of market vakie was based on the exposure time of 1-100 days.
SQUARE FOOTAGE:
Currently,no uniform standard wrists for measuring residential properties in the real estate profession. In addition,the
Colorado Real Estate Commission has determined that there are currently no uniform guidelines for determining responsibility
for the accuracy of square footage of improved,residential real property transactions. The square footage totals noted in this
appraisal report have been utilized as a tool for comparison. One should rely on their own,independent measurements if
square footage is considered to be an important factor.
ADVERSE ENVIRONMENTAL CONDITIONS:
No environmental assessment was conducted as this is outside the scope of the appraisal and the Appraiser does not accept
any responsibility for such discovery. No readily apparent environmental conditions were observed during the normal course
of the property inspection and it is assumed none exist. Of any adverse site conditions are discovered,the Appraiser should
be notified as the value estimate will likely require modification.
Form TARO—'01k for Widows'appraisal sdtwae by a la mode,tic.-1-BOBNAMOLE
[Fie No.0909KEINERI Pate#151
Supplemental Addendum file No. 0909KEINER
Borrower/Glent Keener
Prapah Address 2007 81st Ave
City Greeley Coady Weld Shan CO Tip Code 80634-9665
Lades First National Bank
OBSERVATION vs.INSPECTION:
The routine inspection of the property and any improvements is for the purposes of establishing the market clause of the
property. Attic and crawl spaces are not typically accessed. The property inspection is really more of an observation. It is not
to be regarded as a full property inspection of the type intended to reveal defects in mechanical systems,structural integrity,
roofing,siding,or any other property component. The Appraiser claims no special expertise in these areas,nor is the
Appraiser an expert regarding issues relating to foundation settlement,basement moisture problems,wood destroying(or
other)insects,radon gas,mold or lead based paint. Unless otherwise noted,the Appraiser assures the various elements that
constitute the subject property are fundamentally sound and in working order. Statements regarding condition,particularly
those regarding heating and cooling systems are based on superficial observations only. In short,the Appraiser is not a home
inspector and disclose the condition of the property or the presence/absence of any defects. The client is invited and
encouraged to employ qualified experts to inspect and address any area of concern. If negative conditions are discovered,the
Appraiser should be notified,as the value estimate will likely require modification.
STRUCTURAL/MECHANICAL SYSTEMS:
No warranty of the subject is given or implied. No liability is assumed for the structure or the mechanical elements of the
property. It is assumed that there are no structural defects hidden by floor or wall coverings or any other hidden or unapparent
conditions of the property,that all mechanical equipment and appliances are in good working condition,and that all electrical
components and the roofing are in good condition. If the client has any questions regarding these items,it is the clients
responsibility to order the appropriate inspections. Inspections of these items are outside the scope of this assignment,the
Appraiser assumed no responsibility for these items.
PUBLICATION of REPORT:
Neither all nor part of the contents of this report shall be conveyed to any person or entity,other then the appraiser's firms'
client,through advertising,solicitation materials,public relations,news sales,or other media without the expressed written
consent and approval of the authors,particularly as to value conclusions,the identity of the appraiser or firm with which the
appraiser is connected,or any reference to any professional organizations or designations in which the appraiser or firm is
affiliated.
Furthermore,the appraiser or firm assumes no obligation,liability,or accountability to any third party. If the report is placed in
the hands of anyone but the client,the client shall make such party aware of all the assumptions and limiting conditions of the
assignment.
DIGITAL SIGNATURES:
This appraisal contains digital signatures that meet the requirements of the Uniform Standards of Professional Appraisal
Practice(USPAP)and of FPMAA/FHLMC. The software program used to generate this appraisal report contains a digital
signature security feature which utilizes personal passwords to protect digital signatures. Each appraise has sole
personalized control of affixing his/her digital signature to the report. The appraisal report can not be modified without the
permission of every appraise who has signed the repot. Electronically affixing a signature to a report carries the same level
of authenticity and responsibility as an ink signature on a paper copy report.
EXTRAORDINARY ASSUMPTIONS:
An extraordinary assumption is being made regarding the information utilized from MLS and county records. The information
obtained from MIS and county records regarding the subject and comparables is assumed to be correct and accurate.
If any of these assumptions are incorrect,the value conclusion will differ.
ADDITIONAL COMMENTS:
MIS photos were used when available to depict the condition of the comparables at the time of the sale.
Form TACO—40TAL for endows'appraisal soften by a h node,inc.—1-8OO-ALAM0OE
File No. 0909KEINER Page #16
Subject Photo Page
Borrower/Gent Keiner -
Property Address 2007 81st Ave _
City Greeley County Weld State CO hp Code 80634-9665
Lender First National Bank
Subject Front
2007 81st Ave
Sales Price 248,500
Gross Living Area 1 ,794
Total Rooms 6
Total Bedrooms 2
Total Bathrooms 2
Location Suburban/Avg
She , View Neighbrhd/Avg
Ik. *4. Site +1- 6,072 SF
e in Quality Stucco/Stn/Gd
LdriAmasankili Age 2 Years
Subject Rear
Jan
�1N
Subject Street
Form PICPIXSR - 'TOTAL for Windows' appraisal software by a la mode, inc. — 1-800-ALAMODE
File No. 0909KEINERi Page #171
Subject Interior Photo Page
Borrower/Cleft Keiner
Properly Address 2007 81st Ave
City Greeley County Weld State CO Zip Code 80634-9665
Lender First National Bank
Subject Interior- Kitchen
2007 81st Ave
�- Sales Price 248,500
Gross Living Area 1,794
- Total Rooms 6
Total Bedrooms 2
Total Bathrooms 2
Location Suburban/Avg
View NeighbrhdlAvg
Site +/ 6,072 SF legilidit Quality Stucco/SWGd
Age 2 Years
a
Subject Interior - Mstr Bath
t r.... „alba. if
iA ! i
u l►ia
kr one -
r ine si
Ip
41 ir . - .I
. .
a, -amasser . . .
simis
I Subject Interior - Mstr Bath
f
,a
• Olt II
s .
Form PICPIX.SI — 'TOTAL for Windows' appraisal software by a la mode. inc. — 1-800-ALAM0DE
File No. 0909KEINERI Page #18
Subject Interior Photo Page
Borrower/Cient Keiner
Property Address 2007 81st Ave
City Greeley County Weld State CO - _ _ Zip Code 80634-9665
Lender First National Bank
Subject Interior - Bdrm
• .jazie,, 4 R 2007 81st Ave
Sales Price 248,500
Gross Living Area 1,794
.,. Total Rooms 6
r 11 ' Total Bedrooms 2
;' Total Bathrooms 2
i
i R'r•' d.• • '1 • Location Suburban/Avg
x •.� View Neighbrhd/Avg
r f. '« ;� -�r Site +/- 6,072 SF
;'�,' . Quality Stucco/Stn/Gd
_ • I_ Age 2 Years
awe. "'•'*n. s.
.. � ; 4 naps' -+ ': .v,�
4 '.6...- .411kot . .
Subject Interior - Living
aikilialimg
r
f.4"; :1
1 tsammio .
is
Subject Interior- Dining/Living
,
rRu\thj .. II ..
0
. r -. • - Set , ' " - I''
•
It 7 - :
i
t.
aml. I I <-
-Cal :. , ...-- . _ ell
i
Form PICPIXSI — 'TOTAL for Windows" appraisal software by a la mode, inc. — 1-800-ALAM0DE
File No. 0909KEINER Page #19
Subject Interior Photo Page
Borrower/Cient Keiner
Property Address 2007 81st Ave
City Greeley County Weld State CO _ hp Code 80634-9665
Lender First National Bank
Subject Interior- Rec Room
2007 81st Ave
Sales Price 248,500
Gross Living Area 1,794
Total Rooms 6
Total Bedrooms 2
L. Total Bathrooms 2
Location Suburban/Avg
i View Neighbrhd/Avg
Site +/- 6,072 SF
L--
Quality Stucco/Stn/Gd
. - ., _ _ ii .
" Age 2 Years
mrifillIIIE
VW
Subject Interior- Bdrm
sal
IIIIIIIIj ! hl* -
_ ki a.
,o . -
Subject Interior - Bath
'ft :44 : 4
tLtIIS
.` s.Ino -7 " 4
Ktzet, r n # t
t ' `
w •ya " eke _
filliiille 1 .
Form PICPD(.SI — 'TOTAL for Windows' appraisal software by a la mode, inc. — 1-800-ALAMODE
Fil N . 909KEINERI Pane #201
Subject Interior Photo Page
Borrower/Cheat Keiner -
-
Property Address 2007 81st Ave -
City Greeley County Weld - Slate CO hp Code 80634-9665
Lender First National Bank
Subject Interior - Family
2007 81st Ave
Sales Price 248,500
" _,- Gross Living Area 1,794
Total Rooms 6
Total Bedrooms 2
~ -- Total Bathrooms 2
*, ii v? Location Suburban/Avg
r
View Neighbrhd/Avg
Site +/- 6,072 SF
Quality Stucco/Stn/Gd
Age 2 Years
•
Subject Interior - Wet Bar
intxut
•- • I - i
Form P1CPIX.SI — 'TOTAL for Windows" appraisal software by a Li mode, inc — 1-800-ALAM0DE
(File No. Q9Q9KEINERI Page #211
Comparable Photo Page
Borrower/Chent Keiner
Property Address 2007 81st Ave
City Greeley - County Weld State CC) Zip Code 80634-9665
Lender First National Bank
Comparable 1
('t PRES 2002 81st Avenue Court
Prox. to Subject 0.06 miles
r + j Sale Price 250,000
Gross Living Area 2,115 I. Total Rooms 7
Total Bedrooms 3
Total Bathrooms 2.5
Location Suburban/Avg
" View Neighbrhd/Avg
Site +/- 6,461 SF
re
_ _ .- I
Quality Stucco/Stn/Gd
eis Age 3 Years
Comparable 2
2009 81st Avenue Court
Prox. to Subject 0.06 miles
Sale Pnce 237,000
Gross Living Area 1 ,558
Total Rooms 6
Total Bedrooms 2
Total Bathrooms 2
• Location Suburban/Avg
' I Or
View Neighbrhd/Avg
r �.,- Site +/- 6,970 SF
�I Quality Stucco/Stn/Gd
Age 2 Years
Comparable 3
2025 81st Avenue Court
Prox. to Subject 0.11 miles
Sale Price 235,000
Gross Living Area 1,588
Total Rooms 6
• ; . Total Bedrooms 2
Total Bathrooms 2
Location Suburban/Avg
.I�Ir, }firI View Neighbrhd/Avg
Site +/St cco/S6,752 SF
�. Quality Stucco/SWGd
Age 3 Years
Form PICPACCR — 'TOTAL for Windows' appraisal software by a la mode. inc. — 1-800-ALAM0D
FIIQNQ, 0909KEINER1 Pane #22
Comparable Photo Page
Borrower/Dent Keiner
Property Address 2007 81st Ave
City Greeley County Weld State CO Zip Code 80634-9665
Lender First National Bank
Comparable 4
2104 82nd Avenue
• Prox. to Subject 0.06 miles
i'mSale Price 250,000
Gross Living Area 1 ,920
Fr Total Be Bedrooms
6
'c.LL Total Bedrooms 2
Total Bathrooms 2
ISms tirLocation Suburban/Avg
Yew Neighbrhd/Avg
• A Site +/- 6,534 SF
• -• • . Quality Stucco/Stn/Gd
r !� '-. .
Age 2 Years
______
Comparable 5
2025 81st Avenue Court
Prox. to Subject 0.06 miles
Sale Price 249,000
Gross Living Area 1 ,588
Roo
_ Total Bedrooms ms 26
-`I Total Bathrooms 2
;,I , Location Suburban/Avg
View Neighbrhd/Avg
'� / Site +/- 6,752 SF.714-41PCM_ Quality Stucco/Stn/Gd
Age 2 Years
Comparable 6
ICI HIES
$ 2019 81st Avenue
Prox. to Subject 0.01 miles
- - Sale Price 218,000
--'1 g ( 1� s •4 , Gross Living Area 1 ,588
.�+�••• % '�°!I'Yi.��; Total Rooms 6
�' '' `.. , , , .1 Total Bedrooms 2
r _ � __
• N . Total Bathrooms 2
Location Suburban/Avg
View Neighbrhd/Avg
Site +/- 6,098 SF
�, Quality Stucco/Stn/Gd
Age 2 Years
•` �
as; t- - ♦-tea -
Form PICPIX.CR — 'TOTAL for Windows' appraisal software by a la mode, inc. — 1-800-ALAM00E
!File No.0909KEINERI Page#231
Building Sketch (Page - 1)
80rraver/Cknl Keiner
Property Address 2007 81st Ave
CM Greeley Courtly Weld State CO bp Code 80634-9665
Lender First National Bank
110' 1417
Main Floor Basement
b 6 6.0' sa
\a* m 12.0•
170• o I Bedroom 17.0• if:I
Master
Bedroom
Dining
Recreation Rare
Living Rare Family Room
co re
m Master to Full Bad
Bah
L. Kitchen
Wet Bar
Walk In ClosetLaurtYy Wily dry
Silage $
25.0• 25.0'
Full Bath
th in Bedroom
sr g
Two Car Attached foyer
R
Bedroom 6.0'
b la o Walk In Closet
517 m m m 2120' 12.0'
ova amen-
Comment:
AREA CALCULATIONS SUMMARY LIVING AREA BREAKDOWN
Code Description Net Sles Net Totals Breakdown Subtotals
Grill First Floor 1794.0 1794.0 First Floor
696 Bssrnt 1774.0 1774.0 12.0 54.0 646.0
GAR Garage 550.0 550.0 2.0 8.0 16.0
0.5 r 2.0 2.0 2.0
0.5 s 2.0 2.0 2.0
14.0 38.0 532.0
17.0 30.0 510.0
6.0 14.0 84.0
Net LIVABLE Area (Rounded) 1794 7 Items (Rounded) 1794
Fenn SKT.BMSM—TOTAL for Windows'appraisal software by a la mode,inc.—1-800-ALAM00E
File No. 0909KEINER Page #21
Location Map
_Borrower/Cent Keiner
Property Address 2007 81st Ave
City Greeley County Weld State CO Zip Code 80634-9665
Lender First National Bank
a to mode, inc. ili
bins-
,u.bt+n...elrlw
Gorr Units
:
_ —r —6rCd - V•f I Ulh Si
�J
VV 11th S.,1
to -1=7=1�
-
et
N
Pr. ¢ to u d --
o --
IC ' n n W 12th St
M1
Cr)
CO
HJHZ
Comparable 05 Comparable :71 I
2025 81st Avenue Court 2002 81st Avenue Court
(0.06 miles) (0.06 miles)
YV tail JI RU </j
at., ,� 2 h W-181h-$t
"` 9`' 3 5I `' 78(h �: . ': 0 ipi
�r v W � as 4 r i
17� o C. t 5' Sp r( a. / '� �,%
_ ! co K Subject *i I.
•
c D r- 2001 81st Ave l`l-- \�
N:2Athist-�' - Comparable 04 -=1.32
Imo__fl
2025 81st Avenue Court m . -- - —11 N �'
(0.06 miles) -
ad
I7 0 175 Comparable r46 f ''-�,Sys 2019 81st Avenue
, r (0.01 miles)
i�.2 , St a st St ad
a . Comparable tr3
4 2104 82nd Avenue c• 2 II I L
(0.11 miles) _ Comparable tQ I d r P 1 Cr
2009 81st Avenue Court o o >z
(0.06 miles) iZ." d D bAti
1 "%...s.N., 1-, IL t4 81.
r ,^��
ti
� ti
1`
Evan`
Seth
I nil 0.1 ' 02 ' 03 '
ni u rJ Mi.T:i4 l•+T•c•:1N.1/2 NL•11Ftl.MM;•.t H't ie r:.Ifr A—
Form MAP-LOC — 'TOTAL for Windows' appraisal software by a la mode, inc. — 1-800-ALAMODE
File No,09091(EINEBI Pate#25
FROM:
Margaret Maze INVOICE
NYOICENUB91
4221 West 23rd Street
Greeley,CO 80634
DATE
09/18/2009
Telephone Number.970-371-8305 Fax Number:970-339-3394
REFERENCE
ID:
Memel Order S:
First National Bank Lender Case#'
1204 West Ash Street Cleat fie
0909KEINER
Windsor,CO 80550 W6 F4#ontum: 0909KEINER
Other Fie#inloon:
Telephone Number Fax Number FedutlTaa D: 55-0867512
Alternate Number E-Mei:
Enylbyerp:
DESORPTION
laden First National Bank Client: First National Bank
Pumhmer/Bonoeer.Keiser
Property Address:2007 81st Are
City:Greeley
County:Weld State:CO Zip: 80634-9865
Legal Description:GR ORMI-2 L8 BLK 2 OWL RIDGE MINOR BLOCKS 1 8 2 SINS
FEES AMOUNT
Single Family Residential 375.00
SUBTOTAL 375.00
PAYMENTS AMOUNT
Check t Date: Description:
Checkit Date: Description:
Cheek#: Date: Description:
Terms: Payment is due upon receipt of appraisal.
Please make checks out to Margaret Maze
SUBTOTAL 0.00
Thank You. We Appreciate Your Business. TOTAL DUE $ 375.00
tomtit/5—TOTAL for Windows'appraisal software by a la node,inc.—1-800_ALAMODE
Margaret Maze
(F*le No 0909KEINERf Pane #26
Location Map
Borrower/Cient Keiner
Property Address 2007 81st Ave
City Greeley County Weld State CO Zip Code 80634-9665
Lender First National Bank
.mr
a
117
■
to
INNMIMI
STATE OF COLORADO
leper rnent of Repulabry Agencies
OM.aion of R031 Estate
y r PAPAW OS SEC-Mt PAPER
no at vdMWl AQW1a set
40,22861 I sint ?OM Cwc 31 2010
L_ NSW1 h vs. nat. rictus
. ETCH •
GREELEY,CC/Dlil+ COPY
taa.ar qYloAle
Pin Adettars Stowe
.1 S - Its S
Form MAP.L0C — 'TOTAL for Windows' appraisal software by a la mode, inc. — 1-800-ALAM0DE
0
CLERK TO THE BOARD
PHONE (970) 356-4000 EXT 4226
FAX: (970) 352-0242
WEBSITE: www.co.weld.co.us
1119
915 10TH STREET
P.O. BOX 758
C. GREELEY, COLORADO 80632
COLORADO
July 23, 2010
KEINER KYLE J
2007 81 AVENUE
GREELEY, CO 80634
Parcel No.: 095917218008 Account No.: R4570706
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of July 29, 2010, at or about the hour of
8:15 AM, to hold a hearing on your valuation for assessment. This hearing will be held at the
Weld County Centennial Center, First Floor Hearing Room, 915 10th Street, Greeley,
Colorado.
You have a right to attend this hearing and present evidence in support of your petition. The
Weld County Assessor or his designee will be present. The Board will make its decision on the
basis of the record made at the aforementioned hearing, as well as your petition, so it would be
in your interest to have a representative present. If you plan to be represented by an agent or
an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the
Board's Office, an authorization for the agent or attorney to represent you. If you do not choose
to attend this hearing, a decision will still be made by the Board by the close of business on
August 5, 2010, and mailed to you on or before August 10, 2010.
Because of the volume of cases before the Board of Equalization, all cases shall be limited to 15
minutes. Also due to volume, cases cannot be rescheduled. It is imperative that you provide
evidence to support your position. This may include evidence that similar homes in your area
are valued less than yours or you are being assessed on improvements you do not have.
Please note: The fact that your valuation has increased cannot be your sole basis of
appeal. Without documented evidence as indicated above, the Board will have no choice but
to deny your appeal.
•
If you wish to obtain the data supporting the Assessor's valuation of your property, please submit
a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have
questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify
you of the estimated cost of providing such information. Payment must be made prior to the
Assessor providing such information, at which time the Assessor will make the data available
within three (3) working days, subject to any confidentiality requirements.
2010-1632
AS0076
KEINER KYLE J - R4570706
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need any
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALIZATION
Esther E. Gesick
Deputy Clerk to the Board
cc: Christopher Woodruff, Assessor
2010-1632
AS0076
Hello