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Home My WebLink About20091747.tifftivir, COLORADO August 5, 2009 REEDER TIMOTHY K & 438 CRYSTAL COVE WINDSOR, CO 80550 CLERK TO THE BOARD PHONE (970) 336-7215, Ext. 4226 FAX: (970) 352-0242 P. O. BOX 758 GREELEY, COLORADO 80632 RE: THE BOARD OF EQUALIZATION, 2009, WELD COUNTY, COLORADO - DENY PETITIONER'S APPEAL AND AFFIRM ASSESSOR'S VALUE DESCRIPTION OF PROPERTY: ACCOUNT#: R0045301 PARCEL#: 080728218017 -WIN 6WV L17 WATER VALLEY 6TH FG SITUS: 438 CRYSTAL CV WINDSOR 80550 Dear Petitioner: On July 29, 2009, 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 2009. The Board of Equalization found that the evidence presented at the hearing clearly supported an adjustment of the value placed upon your above described property by the County Assessor. The assessment and valuation of the Weld County Assessor was adjusted as follows: ACTUAL VALUE AS DETERMINED BY ASSESSOR ACTUAL VALUE AS SET BY BOARD $593,078 $525,000 2009-1747 AS0073 i1 77)61 C 77C�-r7� REEDER TIMOTHY K & - R0045301 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 2009-1747 AS0073 REEDER TIMOTHY K & - R0045301 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, L t Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor 2009-1747 AS0073 Weld County CHRISTOPHER M. WOODRUFF COUNTY ASSESSOR BRENDA DONES, DEPUTY ASSESSOR VALUATION REPORT OF RESIDENTIAL IMPROVED PROPERTY FOR County Board of Equalization REEDER TIMOTHY K & REEDER TRUDY A PETITIONER VS. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0807-28-2-18-017 Schedule Number: R0045301 Log Number: 2353 Date: 7/29/2009 Time: 04:00 PM Board: Board #1 PREPARED BY DUANE M. ROBSON Signature Date ASSESSOR'S OFFICE STAFF APPRAISER ASSESSOR'S VALUE RESIDENTIAL $593,078 Total: $593,078 2009-1747 GENERAL DESCRIPTION AND MARKET SUMMARY SUBJECT SITE AND IMPROVEMENTS This property is located at 438 CRYSTAL CV in the city of WINDSOR. The legal description of the property is WIN 6WV L17 WATER VALLEY 6TH FG SITUS: 438 CRYSTAL CV WINDSOR 80550. Utilities available to the site are typical for the area. The residence is a Frame Stucco house constructed in2002. It has 2257 square feet of finished living area. There are 4 bedrooms. The Assessor has classified the structure as a Ranch 1 Story home of Good quality, using Good quality materials. CBOE_RES_01( Pag MARKET APPROACH SUMMARY Real property for the tax year 2009 must be valued utilizing the level of value for the period of one and one-half years immediately prior to July 1, 2008. A period of five years immediately prior to July 1, 2008 shall be utilized to determine the level of value if adequate data is not available from such one and one-half year period to adequately determine the level of value for a class of property. Said level of value shall be adjusted to the final day of the data -gathering period. Changes occurring between base years are not to be accounted for until the following level of value is implemented, other than additions, change in use, detrimental acts of nature, damage due to fire, etc., creation of a condominium, new regulations restricting or increasing the use of the land, or a combination thereof {39-1-104(11)(b)(I), CRS}. The Weld County Assessor has an established ongoing Sales Confirmation and Validation Program for property transactions used in developing values. The subject property has been classified as Residential for assessment purposes. Residential property value shall be determined by appropriate consideration of the Market Approach to Value {39-1-103(5)(a), CRS}. The Assessor has considered this approach to value for the subject parcel. ASSESSOR'S VALUE RESIDENTIAL $593,078 Total: $593,078 CBOE_RES_01089e Page 3 Comparable Number Comparable Number Comparable Number CBOE__RES_01089 Page m 10 o cn a) o c0 u)I CL CC wI O CO O .00co cric0 60 cow kil a z To / 0 0 CO LL \ }§\\\,co_/)» Lo o 0000N LL k2CD j2 !▪ /!,0 CO 0 aw 4 0 z Z } k 0802®/ g&;2Co, 00 as§g9 00000000000000000000 cp co } / ((§/,§,N,/)i fa • 14-1 2000N a co co to 03 0) LL 0 k$j0 !®-- $!!, 0 !*!;; rrEll co0Z< § § / O. °0040§ E§00201 o • sco-o3 2882 8 8888688282888 PI 0 0 441 49 49 cr. } / 0 CO \ (§/§§,el0/)§ 41: c4 co cc co k { 0 GR@aew 0 of ;! 0 C. ▪ ]g ,_pr�,00,X!@ ��- , ,�,�_ „ oR ! ED { |!2} & ! m�• -EE/}tEOC !!!!= 2lrrEB.�&2,co�DI03 ▪ Z. - # '■■■k2l,||E;,0!!. mjzOmmmmmoo0000! 0 rei- 0) LL TO • / Acct # Recpt # Parcel # Sale Date Tm AM Sale $ R0044201 3250359 080728218006 1/6/2005 $250,000.00 R0044901 3258390 080728218013 2/2/2005 $202,900.00 R0044701 3313644 080728218011 7/28/2005 $225,000.00 R0044301 3373122 080728218007 3/24/2006 $250,000.00 R0044801 3379606 080728218012 4/13/2006 $250,000.00 R0047201 3327988 080728218036 9/29/2005 $55,000.00 R0047301 3327989 080728218037 9/29/2005 $73,000.00 R0045501 3457333 080728218019 2/21/2007 $85,000.00 R0045601 3457330 080728218020 2/21/2007 $85,000.00 R0045701 3457336 080728218021 2/21/2007 $85,000.00 R0043801 3508108 080728218002 9/19/2007 $85,000.00 R0043701 3511320 080728218001 10/12/2007 $65,000.00 Attribute Lakeside Lakeside Lakeside Lakeside Lakeside Interior Interior Interior Interior Interior Interior Interior CBOE_RES_01089e Page 7 REAL AND PERSONAL PROPERTY NOTICE OF DETERMINATION Christopher M. Woodruff WELD Assessor 1400 N 17th Ave GREELEY, CO 80631 Date of Notice: 6/24/2009 Telephone: (970) 353-3845 Fax: (970) 304-6433 Office Hours: 8:00 AM - 5:00 PM SCHEDULE/ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/ PHYSICAL LOCATION R0045301 2009 0451 WIN 6WV L17 WATER VALLEY 6TH FG SITUS: 438 CRYSTAL CV WINDSOR 80550 438 CRYSTAL CV WINDSOR, CO 80550 PROPERTY OWNER REEDER TIMOTHY K & 438 CRYSTAL COVE WINDSOR, CO 80550 PROPERTY CLASSIFICATION ASSESSOR'S VALUATION ACTUAL VALUE PRIOR TO REVIEW ACTUAL VALUE AFTER REVIEW RESIDENTIAL 593,078 593,078 TOTAL $593,078 $593,078 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. r'."r 12 :Z d 8- lir b'Jl u 15-DPT-AR PR 207-08/D8 NOD N'. 1990 Sign APPEAL PROCEDURES County Board of Equalization Hearings will be held from July 1 through August 5 at 915 10`" 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 Avg enue and 9/" Street, P.O. Box C Denver, CO 80203 Greeley, Colorado 80632 (303) 866-5880 Telephone (970) 356-4000 Ext. 4520 www. d of a. colo rad o. govlb as 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 for real property pursuant to § 39-8-106(1.5), C.R.S.) $ 1/a1Y /7.Y 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 installed cost, appraisal, etc.) ( /- --'l� Fj7rp c loS U:�S in toiznS, z4 ,1 /Gi]hocA0 /Sic) &L41G .& /5-3‘, Stf xctl, Et - h 4/00 Cr, y5// /Peite4 a,..,a' 46" la . / S4' -Lc�,a�va/ roarv� / iv'Y4ono p/vs vv/&r odf Az o113V4n/r.��.s1,a, JAA., you /,S/o/,/ 7Dr /siSrc�S/7t (TJ'S ddnri1c/A-la. /O�, / ;c%7%)n 7t'i' / ATTESTATION I //ss c'FA0 the undersigned owner or agent' of the property identified above, affirm that the statements ngd heroin and qn any attachments iereto are truejnd c mplete. �i7/) 6QtiT(5� gic a Telephone Number ate Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/08 NOD #: 1990 May 16, 2009 Dear Weld County Assessor, RECEIVED MAY 18 2009 WELD COUNTY ASSESSOF GREELEY, COLORADO Please reduce the assessed price of our home to $428,178 for the following reasons: 1. During the time period specified January 2007 to June 30, 2008 in our neighborhood 4 houses went into foreclosure, lowering the value of our house. Those houses were: a. Foreclosure # 08-0376 1540 Sandy Lane -June 18, 2008 b. Foreclosure # 08-0365 1536 Sandy Lane -June 18, 2008 c. Foreclosure #08-456 400 Crystal Beach -June 25,2008 d. Foreclosure#08-0337 411 Crystal Beach -June 11,2008 Every foreclosure lowers the value of our house. 2. The lots sold for $65,000 and $85,000 during that time. That is what our land value has been reduced to. The value of $249,900 that was assigned to our property is too high. There were no waterfront properties sold during that time period. A time period in which home values in our area plummeted, with many foreclosures as listed above. If we kept the value of our house at $343,178 which is what you listed it for and added 85,000 for land. We get: $428,178 3. We believe that our home value of $343,178 minus 10% of $34,317 gives us $308,861 plus the land. Because of the above foreclosures our home value has declined more than the attached graph. 4. Realtors have advised us to list our property for $399,000. 5. An exhaustive list of all of the real estate transactions (except for the foreclosures listed above) is attached. 411 Crystal Beach Drive was not an armslength transaction. It was part of R&S Enterprises. Rowley sold it to Sherman, a sale between business partners. Part of their real estate transations that were/are being investigated. It then went into foreclosure -listed above. 1523 Sandy Lane was $249,000 sale of new construction, 433 Crystal Beach Drive was $408,000 with the seller paying for many extras, and 1515 Sandy Lane was $335,000 sale of new construction. The value of $428,178 is a fair value for the time period specified. The increase is a hardship for us. We are two retired teachers. We sincerely appreciate your reviewing this request. Ski Trudy & Tim Reeder REAL PROPERTY NOTICE OF VALUATION ^her M. Woodruff W ssessor 1400 N 17th Ave Greeley, CO 80631 Date of Notice: 4/14/2009 Telephone: (970) 353-3845 Fax: (970) 304-6433 E-mail: appeals@co.weld.co.us SCHEDULE NUMBER TAXYEAR TAXAREA LEGAL DESCRIPTION/ PROPERTY ADDRESS R0045301 2009 0451 WIN 6WV L17 WATER VALLEY 6TH FG SITUS: 438 CRYSTAL CV WINDSOR 80550 438 CRYSTAL CV WINDSOR CO 80550 c z o w o cc a. a REEDER TIMOTHY K & 438 CRYSTAL COVE WINDSOR CO 80550 - PROPERTY'C-, .-FICgT1YlN', -.,. , _ - VALUE„ .„, `+vOR = - `PRIOR YEAR YEAR ` `:,CURRENT YEAR . ' CHANGE `'- b ,• ' , .. RESIDENTIAL 549,900 593,078 43178 r.TOTAL..= 549900 593078 o-' 1- co w Q a ci I a. 0. LAND NET SQFT 4933 ` LAND NET ACRES 0.1132 OCCUPANCY1 SINGLE FAMILY RESIDENTIAL PRIMARY BUILT AS RANCH 1 STORY YEAR BUILT 2002 BUILT AS SQUARE FOOTAGE 2257 TOTAL BASEMENT SQUARE FOOTAGE 2257 TOTAL BASEMENT FINISHED SQ FT 1600 TOTAL GARAGE SQUARE FOOTAGE 682 TOTAL BUILDING COUNT 1 *The square footage listed is the t [aI t o ex error square footage and may include other structures on the property. Improvements means all structures, buildings, fixtures, fence , 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%, § 39-1-1042(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 # 15339 C 0 0. .` O N m 00000 C C C C C m m m m m O O O O O com> > > > > ... 0 0 0 0 0 C O O O O 0 J O O 0 a O 0 N h N N N W W W W cJ Q HisfR Wn m A N 0 0 22 In N cc 0o oo 33 a)0) C C 4645 m m caw O O OO m N ' M NN9 f9 $408,000 resale N m Cnbo t ry V m- CO C Itt U, J a 7) c � Nm 1 Y a , N J O c M N S 0 m 0 0 0 O O OO 0 0 Mrr m N N N N N O W E ❑ O Q� N N N N W ` h O m r- O O O a O O O O .i...m N a) J V a co t it a J C C V N m m 0 0 J C 3 c cF-F- o c • moos->. m O QO.O V E • C JY .0 01 Z (n cn O.JU dJ 2 0 ,C 0 O O J J Y m 0 N 0 Z y • co• O w ,a, O mmmm We m 0 T c w 0 0 0 0 0 0 06 0 0 0 m 01 CZ 0 m w C Q J 0 j d m m>> m o c 'O C c O O m m co m m J J J J R Q ,...›..16 t6 N 'm a Z cc y ow Cc W m m 2`2 2` �0) C (/7 to U U U MN Q o o v v v N N M M V V V r r .NMO O M p O2OOOOO 0 0NN O O W W W W W W W V N N N N N NN W W W W W W W a N N N N N N N W m W W W 00000 W W 00000 00 433 Crystal Beach Drive 080728218027 411 Crystal Beach Drive 080728218031 Elementary: Mountain View Middle/Jr.: Windsor High School: Windsor School District:WINDSOR RE -4 Lot Size:4879 Elec: Xcel Gas: Xcel PIN: Waterfront: No Water Rights: No HOA: Harborwalk HOA Fee: $100.00/M Xfer: No Rsrv: No Approx Acreage: 0.11 Water: Windsor Taxes/Yr: $3,448/2006 Zoning: Res Water Meter Inst: Yes Well Permit #: Bedrooms: 4 Baths: 3 Rough Ins: 0 Baths Bsmt Lwr Main Upr Addl Total Full 0 0 1 0 0 1 3/4 1 0 1 0 0 2 1/2 0 0 0 0 0 0 All Bedrooms Conform: Yes Rooms Master Bd Bedroom 2 Bedroom 3 Bedroom 4 Bedroom 5 Dining room Family room Great room Kitchen Laundry Living room Rec room Study/Office Level Length Width Floor Main 19 14 Carpet Main 11 12 Carpet Bsmt 12 12 Carpet Bsmt 12 12 Carpet Main Main Main Bsmt 22 6 19 27 10 9 14 27 Wood Vinyl Carpet Carpet IRES MLS#: 550604 PRICE: $429,900 ADDR: 433 Crystal Beach Dr, Windsor, 80550 RESIDENTIAL -DETACHED SOLD Locale: Windsor County: Weld ArealSubArea: 10/23 Map Book: N - 0 - X Subdivision: Water Valley Legal: Win 6wv, L27, Water Valley, 6th Fg Situs Total SqFt All Lvls Total Finished SqFt: Finished SqFt w/o Bsmt: Upper Level SqFT: # Garage Spaces: Garage SqFt: YearBuilt: 2003 New Const: No Builder: Ashcroft Homes New Const Notes: 3970 3370 1985 0 2 560 Basement SqFt: Lower Level SqFT: Main Level SqFt: Addl Upper Lvl: Garage Type: SqFt Source: Est. Comp.: Model: Antucket 1985 0 1985 0 Attached Public Comments: Patio Home w/ Great Outdoor Living in a Gated Community. Private Courtyards and Covered Patio w/ Water Valley Beach and Path nearby. Eat in Kitchen w/ SS appl., gas cooktop, granite, and pantry. Features: 10 ceilings, h/w in kitchen, FR and halls, tiled baths, built in buffet, f/p, canned and spotlights, faux wood blinds. Large Master w/ walk-in closet/built-in. Finished 9 basement w/ Large Rec room / wet bar. Additional Workshop Area w/ 2 car garage. Full Stone / Stucco Exterior. Sold Date: 02/29/2008 Sold Price: $408,000 Terms: CONV FIX DOM: 127 DTO: 95 DTS: 127 D.Pymt.Assist? N Concession Type: CC Pd By Sllr Points Paid/Seller: 0.o0Points Paid/Buyer: 0.00 Total Amt: $4,896 Misc. Sale Info: S Cr B 11300 Property Features Land Size - c.25 Acre, Style - 1 Story/Ranch, Construction - Stucco, Roof - Composition Roof, Association Fee Includes - Trash, Snow Removal, Lawn Care, Management, Type - Patio Home, Outdoor Features - Lawn Sprinkler System, Patio, Oversized Garage, Location Description - Corner Lot, Level Lot, Golf Course Neighborhood, Lot Improvements - Street Paved, Curbs, Gutters, Basement/Foundation - 75%+Finished Basement, Radon Unknown, Flood Plain - Minimal Risk, Heating - Forced Air, Cooling - Central Air Conditioning, Ceiling Fan, Inclusions - Electric Range/Oven, Dishwasher, Refrigerator, Microwave, Energy Features - Double Pane Windows, Design Features - Eat -In Kitchen, Separate Dining Room, Open Floor Plan, Walk -In Closet, Washer/Dryer Hookups, Wood Floors, Master Bedroom Bath - 3/4 Master Bath, Luxury Features Master Bath, Fireplace - Gas Fireplace, Living Room Fireplace, Disabled Accessibility - Level Lot, Main Floor Bath, Main Level Bedroom, Utilities - Natural Gas, Electric, Cable TV Available, High Speed Avail, Water/Sewer - City Water, City Sewer, Ownership - Private Owner, Possession - Delivery Of Deed, Property Disclosures - Seller's Property Disclosure, Possible Usage - Single Family, New Financing - Cash, Conventional, Contact: Eric Kronwall Phone: 970 530-2411 Cell: 970-481-9441 Email: Eric@EricKronwall.com Office: RE/MAX Advanced Inc. Phone: 970-221-5995 LA: Tim DeLeon 970-377-6040 LO: Group Horsetooth 970-223-0700 Prepared By Eric Kronwall - 1:11 PM - 5/8/2009 Information Deemed Reliable But Not Guaranteed. MLS Content And Images Copyright 1995-2009, IRES LLC. All Rights Reserved. 5/8/2009 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R0046301 Tax Area: 0451 Bordering County: Acres: 0.1079 Township Range Section Quart. Sec. 06-67-28-2 Owners Name 8. Address: HABERKORN CATHY ELIZABETH 433 CRYSTAL BEACH DRIVE WINDSOR, CO 80550 Business/Complex: Sale Date 4/8/2008 Parcel#: 080728218027 Subdivison Name Block# Lot# WATER VALLEY FG #6 - - 27 Property Address: Street: 433 CRYSTAL BEACH DR WINDSOR City: WINDSOR Sales Summary Sale Price Deed Type $408,000 WD Legal Description Reception # 3547076 WIN 6WV L27 WATER VALLEY 6TH FG 433 CRYSTAL BEACH DR WINDSOR 80550 Land Type Residential Land Subtotal: Bldg# 1 Abst Code 1112 Property Type Residential Improvements Subtotal: Total Property Value Account#: R0046301 Land Valuation Summary Unit of Number of Measure Units Site Buildings Valuation Summary Building Details Actual Value Assessed Value $85,000 $6,770 Actual Value $313,463 $398,463 Owners Name & Address: Property Address: HABERKORN CATHY ELIZABETH Street: 433 CRYSTAL BEACH DR WINDSOR 433 CRYSTAL BEACH DRIVE City: WINDSOR WINDSOR, CO 80550 Building# 1 Built As: Exterior: Ranch 1 Story Frame Stucco Property Type Residential Individual Built As Detail Year Built: H VAC: Assessed Value $24,950 $31,720 Parcel#: 080728218027 2003 Central Air to Air 5/8/2009 Interior Finish: # of Baths: # of Bdrms: # of Stories: Rooms: Garage: Attached SQ Ft: Basement: Total SQ Ft: Drywall 3 4 1 0 560 1985 Built As SQ Ft: Roof Type: Roof Cover: Units: 1985 Composition Shingle 0 Detached SQ Ft: 0 Finished SQ Ft: 1380 5/8/2009 Elementary: Tozer Elementary2: Mountain View Middle/Jr.: Windsor High School: Windsor School District: WINDSOR RE -4 Lot Size: Approx Acreage: 0.09 Elec: Xcel Water: Town Of Windsor Gas: Xcel Taxes/Yr: $637/2005 PIN: R0048001 Zoning: R1 Waterfront: No Water Meter lnst: Yes Water Rights: No Well Permit #: HOA: hiarborwalk HOA Fee: $100.00/M Xfer: No Rsrv: No Bedrooms: 4 Baths: 3 Rough Ins: 0 Baths Bsmt Lwr Main 11Q Addl Total Full 1 0 1 0 0 2 3/4 0 0 1 0 0 1 1/2 0 0 0 0 0 0 All Bedrooms Conform: Yes Rooms Level Length Width Floor Master Bd Main 16 15 Carpet Bedroom 2 - - - Bedroom 3 Bedroom 4 Bedroom 5 Dining room Family room - - - Great room - - Kitchen Main 11 10 Wood Laundry - - Living room - - - Rec room Study/Office IRES MLS#: 509099 PRICE: $363,500 ADDR: 1515 Sandy Ln, Windsor, 80550 RESIDENTIAL -DETACHED SOLD Locale: Windsor County: Weld Area/SubArea: 10/23 Map Book: N - 0 - X Subdivision: Water Valley Legal: Win Bwv L44 Water Valley 6th Filing Total SqFt All Lvls 2898 Basement SqFt: 1449 Total Finished SqFt: 2898 Lower Level SqFT: 0 Finished SqFt w/o Bsmt: 1449 Main Level SqFt: 1449 Upper Level SqFT: 0 Addl Upper Lvl: 0 # Garage Spaces: 2 Garage Type: Attached Garage SqFt: YearBuilt: 2006 SqFt Source: Building Plans New Const: Yes Est. Comp.: Builder: D&R Patio Homes Model: Cortina New Const Notes: MODEL HOMES OPEN FRIDAY THRU MONDAY FROM 1-4PM. Public Comments: Beautiful 4 bedroom, 3 bath patio home in Northern Colorado's premier gated community, Claremont. 10' ceilings, granite counter tops, hardwood floors, custom cabinets and tile. Start 'living the dream' today! BASEMENT BEING FINISHED NOW. Sold Date: 06/27/2007 Sold Price: $335,000 Terms: CONV FIX DOM: 286 DTO: 264 DTS: 286 D.Pymt.Assist? N Concession Type: CC Pd By Sill - Points Paid/Seller: 0.00Points Paid/Buyer: 1.00 Total Concession Amt: Property Features Land Size - <.25 Acre, Style - 1 Story/Ranch, Construction - Stucco, Roof - Tile Roof, Association Fee Includes - Common Amenities, Trash, Snow Removal, Lawn Care, Management, Type - Patio Home, Outdoor Features - Lawn Sprinkler System, Patio, Location Description - Corner Lot, Level Lot, Golf Course Neighborhood, Abuts Private Open Space, Fences - Partially Fenced, Lot Improvements - Street Paved, Curbs, Gutters, Road Surface At Property Line - Blacktop Road, Basement/Foundation - Full Basement, 90% + Finished Basement, Flood Plain - Minimal Risk, Heating - Forced Air, Cooling - Central Air Conditioning, Inclusions - Electric Range/Oven, Dishwasher, Refrigerator, Energy Features - Double Pane Windows, Design Features - Eat -In Kitchen, Walk -In Closet, Washer/Dryer Hookups, Wood Floors, Master Bedroom Bath - 5 Piece Master Bath, Fireplace - Gas Fireplace, Gas Logs Included, Disabled Accessibility - Level Lot, Utilities - Natural Gas, Electric, Cable TV Available, Satellite Avail, High Speed Avail, Water/Sewer - City Water, City Sewer, Ownership - Private Owner, Possession - Delivery Of Deed, Property Disclosures - No Property Disclosure, Possible Usage - Single Family, New Financing - Cash, Conventional, Contact: Eric Kronwall Phone: 970 530-2411 Cell: 970-481-9441 Email: Eric@EricKronwall.com Office: RE/MAX Advanced Inc. Phone: 970-221-5995 LA: Terry DuClos 970-218-1814 LO: Keller Williams -No. Cob, FTC 970-377-3700 Prepared By Eric Kronwall - 1:12 PM - 5/8/2009 Information Deemed Reliable But Not Guaranteed. MLS Content And Images Copyright 1995-2009, IRES LLC. All Rights Reserved. 5/8/2009 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R0048001 Tax Area: 0451 Bordering County: Acres: 0.0903 Parcel#: 080728218044 Township Range Section Quart. Sec. Subdivison Name Block# Lot# WATER VALLEY FG #6 - - 44 06-67-28-2 Owners Name & Address: LEIK PATRICIA 1515 SANDY LANE WINDSOR, CO 80550 Business/Complex: Sale Date 6/27/2007 Sale Price $335,000 Property Address: Street: 1515 SANDY LN WINDSOR City: WINDSOR Sales Summary Deed Type Reception # WD 3486897 Legal Description WIN 6WV L44 WATER VALLEY 6TH FG SITUS: 11515 SANDY LN WINDSOR 80550 Land Type Residential Land Subtotal: Bldg# 1 Abst Code 1112 Property Type Residential Improvements Subtotal: Total Property Value Account#: R0048001 Owners Name & Address: LEIK PATRICIA ] 1515 SANDY LANE WINDSOR, CO 80550 Land Valuation Summary Unit of Number of Measure Units Site Buildings Valuation Summary Building Details Actual Value Assessed Value $85,000 $6,770 Actual Value Property Address: Street: 1515 SANDY LN WINDSOR City: WINDSOR Building# Property Type 1 Residential Individual Built As Detail Built As: Ranch 1 Story Year Built: Exterior: Frame Stucco HVAC: $262,559 $347,559 Assessed Value $20,900 $27,670 Parcel#: 080728218044 2005 Central Air to Air 5/8/2009 Interior Finish: # of Baths: # of Bdrms: # of Stories: Rooms: Garaoe: Attached SQ Ft: Basement: Total SQ Ft: Drywall 3 4 1 0 Built As SQ Ft: Roof Type: Roof Cover: Units: 1460 Concrete Tile 0 441 Detached SQ Ft: 0 1460 Finished SQ Ft: 1460 5/8/2009 Elementary: Tozer Elementary2: Mountain View Middle/Jr.: Windsor High School: Windsor School District:WINDSOR RE -4 Lot Size:4863 Elec: X-Cel Gas: X-Cel PIN: R0047901 Waterfront: No Water Rights: No HOA: Harbor Walk HOA Fee: $100.00/M Xfer Bedrooms: 3 Baths Baths Bsmt Lwr Full 0 0 3/4 0 0 1/2 0 0 All Bedrooms Conform: Yes Rooms Level Length Master Bd Main 14 Bedroom 2 Main Bedroom 3 Main Bedroom 4 Bedroom 5 Dining room Main 9 Family room - Great room - Kitchen Main Laundry Main Living room Main Rec room - Study/Office Approx Acreage: 0.11 Water: Town Of Windsor Taxes/Yr: $3,440/2007 Zoning: RMU Water Meter lnst: Yes Well Permit #: : Yes Rsrv: Yes 2 Rough Ins: 1 Main Upr Addl Total 2 0 0 2 0 0 0 0 0 0 0 0 11 11 11 6 12 Width Floor 13 Carpet 13 Carpet 11 Carpet 15 Wood 13 Tile 9 Tile 24 Carpet IRES MLS#: 554242 ADDR: 1523 Sandy RESIDENTIAL -DETACHED Locale: Windsor Area/SubArea: 10/23 Subdivision: Water Valley 6th Filing Legal: Lot 43 PRICE: $263,900 Ln, Windsor, 80550 SOLD County: Weld Map Book: N - 85 - KF-41 Total 5gFt All Lvls Total Finished SqFt: Finished SqFt w/o Bsmt: Upper Level SqFT: # Garage Spaces: Garage SqFt: YearBuilt: 2005 New Const: Yes Builder: D And R Patio Homes, Llc New Const Notes: 3470 1735 1735 0 2 441 Basement SqFt: Lower Level SqFT: Main Level SqFt: Addl Upper Lvl: Garage Type: 1735 0 1735 0 Attached SqFt Source: Assessor Records Est. Comp.: 02/15/2008 Model: Public Comments: Available Now! Beautiful patio home that features 10' ceilings throughout, oil bronzed fixtures, laundry rm w/sink off garage. Kitchen features granite counters, stainless appliances, recessed lighting and 42 inch cabinets. Kitchen also features built-in desk and breakfast nook. French doors lead into the master suit that offers a 5 piece luxury bath and walk-in closet w/built-in shelves. Sale is contingent upon approval by seller's lender for a shod sale. Sold Date: 05/22/2008SoId Price: $249,000 Terms: CONV FIX DOM: 104 DTO: 104 DTS: 156 D.Pymt.Assist? N Concession Type: None Property Features Land Size - <.25 Acre, Style - 1 Story/Ranch, Construction - Stucco, Roof - Tile Roof, Association Fee Includes - Common Amenities, Trash, Snow Removal, Outdoor Features - Patio, Fences - Partially Fenced, Basement/Foundation - Full Basement, Unfinished Basement, Flood Plain - 500 Year/Moderate Risk, Heating - Forced Air, 2 Or More H20 Heaters, Cooling - Central Air Conditioning, Ceiling Fan, Inclusions - Electric Range/Oven, Self -Cleaning Oven, Dishwasher, Refrigerator, Microwave, Laundry Tub, Garage Door Opener, Energy Features - High Efficiency Furnace, Design Features - Separate Dining Room, CathedralNaulted Ceilings, Walk -In Closet, Washer/Dryer Hookups, Wood Floors, Master Bedroom Bath - 5 Piece Master Bath, Fireplace - Gas Fireplace, Gas Logs Included, Utilities - Natural Gas, Electric, Water/Sewer - City Water, Ownership - Private Owner, Possession - Delivery Of Deed, Property Disclosures - Seller's Property Disclosure, Contact: Eric Kronwall Phone: 970 530-2411 Cell: 970-481-9441 Email: Eric@EricKronwall.com Office: RE/MAX Advanced Inc. Phone: 970-221-5995 LA: Eric Kronwall 970-530-2411 LO: RE/MAX Advanced Inc. 970-221-5995 Prepared By Eric Kronwall - 1:12 PM - 5/8/2009 Information Deemed Reliable But Not Guaranteed. MLS Content And Images Copyright 1995-2009, IRES LLC. All Rights Reserved. 5/8/2009 WELD COUNTY ASSESSOR Account#: R0047901 Tax Area: 0451 Acres: 0.1116 Township Range Section quart. Sec. 06-67-28-2 Owners Name & Address: PFAUTH SCOTT 1523 SANDY LANE WINDSOR, CO 80550 Business/Complex: Sale Date 5/22/2008 PROPERTY PROFILE Bordering County: Subdivison Name Block# Lot# Sale Price $249,000 Parcel#: 080728218043 WATER VALLEY FG #6 - - 43 Property Address: Street: 1523 SANDY LN WINDSOR City: WINDSOR Sales Summary Deed Type WD Legal Description Reception # 3556810 WIN 6WV L43 WATER VALLEY 6TH FG SITUS: 1523 SANDY LN WINDSOR 80550 Land Type Residential Land Subtotal: Bldg# 1 Abst Code 1112 Property Type Residential Improvements Subtotal: Total Property Value Account#: R0047901 Owners Name & Address: PFAUTH SCOTT 1523 SANDY LANE WINDSOR, CO 80550 Building# 1 Built As: Exterior: Land Valuation Summary Unit of Number of Measure Units Site Ranch 1 Story Frame Stucco Buildings Valuation Summary Building Details Actual Value Assessed Value $85,000 $6,770 Actual Value $157,456 Property Address: Street: 1523 SANDY LN WINDSOR City: WINDSOR Property Type Residential Individual Built As Detail Year Built: HVAC: $242,456 Assessed Value $12,530 $19,300 Parcel#: 080728218043 2005 Central Air to Air 5/8/2009 Interior Finish: # of Baths: # of Bdrms: # of Stories: Rooms: Garage: Attached SQ Ft: Basement: Total SQ Ft: Drywall 2 2 1 0 Built As SQ Ft: Roof Type: Roof Cover: Units: 1735 Concrete Tile 0 441 Detached SQ Ft: 0 1735 Finished SQ Ft: 0 5/8/2009 czn WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R0045301 Tax Area: 0451 Bordering County: Acres: 0.1132 Parcel#: 080728218017 Township Range Section Quart. Sec. Subdivison Name Block# Lot# 06-67-28-2 WATER VALLEY FG #6 - - 17 Owners Name & Address: Property Address: REEDER TIMOTHY K & Street: 438 CRYSTAL CV WINDSOR 438 CRYSTAL COVE City: WINDSOR WINDSOR, CO 80550 Additional Owners: REEDER TRUDY A Business/Complex: Sale Date 5/8/2002 Sales Summary Sale Price Deed Type $443,100 WD Legal Description Reception # 2951045 WIN 6WV L17 WATER VALLEY 6TH FG SITUS: 438 CRYSTAL CV WINDSOR 80550 Land Type Residential Land Subtotal: Bldg# 1 Abst Code 1112 Property Type Residential Improvements Subtotal: Total Property Value Account#: R0045301 Owners Name & Address: REEDER TIMOTHY K & 438 CRYSTAL COVE WINDSOR, CO 80550 Building# 1 Land Valuation Summary Unit of Number of Measure Units Site Buildings Valuation Summary BuildingDetails Actual Value $249,900 Actual Value $343,178 Property Address: Street: 438 CRYSTAL CV WINDSOR City: WINDSOR Property.Tvpe Residential Individual Built As Detail $593,078 Assessed Value $19,890 Assessed Value $27,320 $47,210 Parcel#: 080728218017 5/8/2009 Built As: Exterior: Interior Finish: # of Baths: # of Bdrms: # of Stories: Rooms: Garage: Attached SQ Ft Basement: Total SQ Ft: Ranch 1 Story Frame Stucco Drywall 4 4 1 0 682 2257 Year Built: HVAC: Built As SQ Ft: Roof Type: Roof Cover: Units: Detached SQ Ft: Finished SQ Ft: 2002 Central Air to Air 2257 Composition Shingle 0 0 1600 5/8/2009 Ict ;13: IIIlk COLORADO July 14, 2009 REEDER TIMOTHY K & 438 CRYSTAL COVE WINDSOR, CO 80550 Dear Petitioner(s): CLERK TO THE BOARD PHONE (970) 356-4000 EXT 4226 FAX: (970) 352-0242 WEBSITE: www.co.weld.co.us 915 10TH STREET P.O. BOX 758 GREELEY, COLORADO 80632 Parcel No.: 080728218017 Account No.: R0045301 The Weld County Board of Equalization has set a date of July 29, 2009, at or about the hour of 4:00 PM, 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, 2009, and mailed to you on or before August 12, 2009. 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. REEDER TIMOTHY K & - R0045301 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 C.. { -4%Liz Cr Esther E. Gesick Deputy Clerk to the Board cc: Christopher Woodruff, Assessor July 29,2009 Dear Weld County Board of Equalization, We feel our assessment is unfair and will cause undo hardship for the following reasons. 1. The 3 houses used during the last assessment report have all gone down. 408 Crystal Beach from $529,360 to $492,139 —J 7, . 2 Xy � 7 426 Crystal Beach from $659,140 to $554,941 Peel)/ 9? Qc-a' —7e % 418 Crystal Beach from $710,500 to $536,161 /97/ 75, 795 - - os % Ours should go down also. *Please note the assessor selected these homes. They have tile roofs and are much fancier than the ones we selected -but we're using these to illustrate that the property values have gone down in our area. Documentation is attached. 2. We can only sell our house for $400,000-$430,000. A difference of almost $200,000. Which is why we're here. We have several real estate people who will confirm this. 3. We honestly got a building permit for our basement, unlike many people we know, only to have the additional taxes tacked on to the assessment. Having no adjustment made for market downturns. We are retired teachers who would like to sell this house. Wouldn't you if your property assessment went up from $424,130 to $593,078, an increase of $168,948 in four years? Years in which the market fell dramatically. Can you understand our fear of what will happen when the real estate market turns around? This is a two bedroom, upstairs, patio home -not a mansion. It is on a lake. Our neighborhood has had a many foreclosures, and our builder D&R is being investigated and went bankrupt. 4. The value of our home has decreased at least 10% from $549,900 to $485,00, then add on a basement of $40,000 -to $525,910. This is $100,000 more than we can sell it for but is closer to being fair. We would like our value reduced to a fair property assessment of $500,000-$525,000. Thank you for reviewing this request. Sincer Trudy &Tim Reeder EXHIBIT I Signature WELD COUNTY CHRISTOPHER WOODRUFF COUNTY ASSESSOR BRENDA DONES, DEPUTY ASSESSOR VALUATION REPORT OF RESIDENTIAL IMPROVED PROPERTY FOR County Board of Equalization REEDER TIMOTHY K & REEDER TRUDY A PETITIONER vs. WELD COUNTY ASSESSOR'S OFFICE RESPONDENT Parcel Number: 0807-28-2-18-017 Schedule Number: R0045301 Log Number: 9 Date: 07/29/08 Time: 8:45am Board: OBOE PARED BY E M ROBSON 2 ?z g v Date GENERAL DESCRIPTION AND MARKET SUMMARY SUBJECT SITE AND IMPROVEMENTS This property is located at 438 CRYSTAL CV in the city of WINDSOR. The legal description of the property is WIN 6WV L17 WATER VALLEY 6TH FG SITUS: 438 CRYSTAL CV WINDSOR 80550. Utilities available to the site are typical for the area. The residence is a Frame Stucco house constructed in 2002. It has 2257 square feet of finished living area. There are 2 bedrooms. The Assessor has classified the structure as a Ranch 1 Story home of Good quality, using Good quality materials. 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J. v la fir• PS War an LOT 12 a r.+ . r. S err • LOT 14 •.•r at 9s • s 1 -, • 1 . , testir I LOT 28 .Mt .t f >r 618'i7' LOT 3 'as .c LOTASS t4 9 74.21" s a73'5.- w ' N.o.§'' baser ' OT 32 trove 237.98' VIIS4rSrg s1. 7..47 *at 72,9r wi 3a'SC"E 71.ao' LOT 45 4.20 ►C war -37'59T ricoF_k53a LOT 35 1 53(491 LOT 36 ..» .t 2 COMM fl/TV s7r r r.° 454 LOT 37 S- o SWO rtiSlets I I I iimerr : Lear alai R'r.evy air anew , Caren nessncr — mans s ClotClotlo. - 0-n s I Pear rat . 4aafsr LOT 42 'a'.. s 7RACT D 17,522 Sic: (040 ACRE'S LOT 40 Ll., .l TRACT E 4214 ACRE) U'tN SPACF . "`'— r `tom _. /7 h1 S r; Q1 n 94- )'V kiktd Ce Y Pg4T-€r VALLEY Pe- .;. ACCESS ORAwvACz AND UTA'T'" EAS£LENT (CROSS NATOtW AREA) MALLN.W CtY-1 RT . LOT 39 ..n, at Va it S) .c 1! - 958.no' . WATER !/A€L La 844.6$' DELTA - � •S7- FILING TWO O10R)-S18-34.44. E 817.131 TRACT .F" Q SF: '. tU.w ACRE) . - . AtcaSt% ORANACC AND UTNjTY EASF fnT ?GROSS HA7CHED AREA) '.• S 88'21'51 w IPM' ZC'E CaEIv SPACE ' ACCSS 0RA/NAC AfD UTZI l' (ASE,Y£JVT • 294.40 .. WATER VALLEY PHASE FILING TWO Eric Kronwall's Market Update January 5, 2009 Real estate information you won't find in the news. What you will learn in this Update: ✓ Which Northern Colorado community had the biggest drop in home prices in 2008. ✓ Which community in the US. had home prices plummet more than 40% in the last 12 months and which areas are hardest hit. ✓ How many communities in the nation saw home prices remain steady or increase. ✓ How best to think about the real estate market. ✓ Why you cannot use just one number to assess the market... but if you are going to anyway, which number to use. ✓ The headline that is 100% accurate that you will never see in the news. Please, read on... The best way to think about the real estate market is like you think about the weather. First and foremost the weather is not the same everywhere... and neither is the real estate market. You have probably heard the joke about the three most important elements in real estate. They are: location, location, location. Real estate —and the weather is very localized. I was reminded of this on May 22, 2008. That was the day I had a closing in Windsor at noon. Do you recall when Windsor was hit by a tornado? Yes, it was May 22 at noon. Hail totaled my car. Think about the market as you do the weather. They both vary from place to place. O n e memorable part of this experience was the stares I received from people as I drove home to Fort Collins. The thunderstorms in Fort Collins had been severe but were nothing like in Windsor. As with real estate, just a few miles made a big difference. Perhaps, more than any other EREC House Price Index 160 -- 150 140 -- 130 -_ 120 It 100 I Everitt Real Estate Center House Price Indices Fort Collins, 151.1 90 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 YID 3O08 Year ort Collins ...,,,-.>Greeley ovelandWindsor Eric Kronwall • RE/MAX Advanced, Inc. • 970-530-2411 • eric@erickronwall.com Copyright © 2009 by Eric Kronwall. Ail Rights Reserved. Market Update Eic January 5, 2009 Eric Kronwall • RE/MAX Advanced, Inc. • 970-530-2411 • eric@erickronwall.com Copyright © 2009 by Eric Kronwall. All Rights Reserved. measure, temperature is used to communicate about the weather. It is common for Traci, one of the receptionists at RE/MAX Advanced, to ask as I enter the office, "Is it cold out there?" But she wants to know about more than just the temperature. She wants to know if it feels cold. In 2003 I took my daughters on a spring break trip to San Francisco. On the day we returned to Colorado it was 60° at the Golden Gate Bridge and I was cold. When we landed in Denver, it was 40° and felt great! As with the weather, do not depend on just one figure to assess the real estate market. The number homeowners care most about is market value of their home. In November, CSU's Everitt Real Estate Center (EREC) unveiled its House Price Index for Northern Colorado. For homes located in our area, this is the best information available. First, the House Price Index is very localized. Since, like the weather, the real estate market varies from one place to another, it is most useful to have information reflect local conditions. Secondly, the House Price Index is based on repeat sales, not averages. Nearly every home in Northern Colorado bought and sold more than once in the last ten years was individually tracked. The Index reflects how the price of each of these homes changed over time. Online services like Zillow use City 2008 Price Change Year Price Peaked Change Since Peak Fort Collins -0.8% 2005 & 2007 -0.8% Loveland -5.1% 2005 -8.9% Windsor -4.0% 2005 -8.4% Greeley -13.5% 2004 & 2005 -27.1% Merced, CA -42.3% 2006 -51.6% Austin, TX +5.6% 2008 n/a In the past 12 months Merced CA had the biggest drop in prices in the nation; Austin, TX had the greatest price increase. Source: Everitt Real Estate Center House Price Index, Office of Federal Housing Enterprise Oversight House Price Index. averages. They do so because it is easier not because it is better. Consider average temperature. The weather on Friday, January 2, was beautiful. It was a warm, sunny day with a high temperature of 56°. If you planned your day simply based on the average temperature of 40° for January 2 you would have missed a great opportunity to enjoy the day. The House Price Index shows that homes in Fort Collins dropped about 3/4% in 2008. Prices in Windsor and Loveland dropped about 4% and 5%, respectively, last year. Last week I heard on the news that the average home price in the U.S. dropped 11% in 2008. This information is not local to our area and is based on averages. As a seller in Fort Collins, Loveland, or Windsor, if you used this national figure to price your home, it would be priced too low. You would sell at a discount. On the other hand, if you used this national figure to decide how House Price Index 325 _ 300 275 _ 250 225 200 - 175 150 I- 125 100- House Price Indices for Fort Collins, Austin, and Merced 1997 1998 1999 2000 2001 2002 2003 2004 Year sFort Collins Merced, CA iAust in, TX 2005 2006 2007 YTD 3008 -2- Identify Results r Page 1 of 2 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R0044401 Parcel#: 080728218008 Tax Area: 0451 Bordering County: Acres: 0.1079 Township Range Section Ouart. Sec. Subdivison Name Blocks Lot# 06-67-28-2 WATER VALLEY FG #6 - - 8 Owners Name & Address: LISTON DARLENE 408 CRYSTAL BEACH DR WINDSOR, CO 80550 Property Address: Street: 408 CRYSTAL BEACH DR WINDSOR City: WINDSOR Business/Complex: Sale Date 1/21/2005 Sale Price $479,900 Sales Summary Deed Type WD Reception # 3255661 Legal Description WIN 6WV L8 WATER VALLEY 6TH FG SITUS: 408 CRYSTAL BEACH DR WINDSOR 80550 Land Type Residential Land Subtotal: Abst Code 1112 Land Valuation Summary Unit of Number of Measure Units Site Actual Value $249,900 Assessed Value $19,890 Buildings Valuation Summary Bldg# 1 Property Type Residential Improvements Subtotal: Actual Value Assessed Value $242,239 $19,280 Total Property Value Account#: R0044401 Owners Name & Address: LISTON DARLENE 408 CRYSTAL BEACH DR WINDSOR, CO 80550 Building* 1 Built As: Exterior: Ranch 1 Story Frame Stucco $492,139 $39,170 Building Details Property Address: Street: 408 CRYSTAL BEACH DR WINDSOR City: WINDSOR Property Type Residential Individual Built As Detail Year Built: HVAC: Parcel*: 080728218008 2004 Central Air to Air Iµn•lin,onc')rnrrrinlrnrwrt bc:taTULAAinakC,.10e..9,.,,,,A—nTTED V.er T —nn e. ; =nQn1fl 1Pl PInno Identify Results Page 2 of 2 Interior Finish: # of Baths: # of Bdrms: # of Stories: Rooms: Garage: Attached SQ Ft: Basement: Total SQ Ft: Drywall 2 3 1 0 Built As SQ Ft: Roof Type: Roof Cover: Units: 1735 Clay Tile 0 441 Detached SQ Ft: 0 1735 Finished SQ Ft: 0 1......n...,,.....,.e...4,1,,.,,...nv..t,.:.,.nzr„uL....C-1,..._n__... A—nr rnnv o_ncm—nn P"),7 Pi AAA Id: ntify Results Page 1 of 2 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R0044901 Parcel#: 080728218013 Tax Area: 0451 Bordering County: Acres: 0.1076 Township Range Section Quart. Sec. Subdivison Name Block# Lot# 06-67-28-2 WATER VALLEY FG #6 - - 13 Owners Name & Address: STINE TOM & 426 CRYSTAL BEACH DR WINDSOR, CO 80550 Property Address: Street: 426 CRYSTAL BEACH DR WINDSOR City: WINDSOR Additional Owners: STINE AUDREY Business/Complex: Sale Date 10/3/2005 Sale Price $669,700 Sales Summary Deed Tvoe WD Reception # 3329852 Legal Description WIN 6WV L13 WATER VALLEY 6TH FG SITUS: 426 CRYSTAL BEACH DR WINDSOR 80550 Land Type Residential Land Subtotal: Abst Code 1112 Land Valuation Summary Unit of Number of Measure Units Site Actual Value $249,900 Assessed Value $19,890 Buildings Valuation Summary Bldg# 1 Property Type Residential Improvements Subtotal: Actual Value Assessed Value $305,041 $24,280 Total Property Value Account#: R0044901 Owners Name & Address: STINE TOM & 426 CRYSTAL BEACH DR WINDSOR, CO 80550 Buildino# 1 $554,941 $44,170 Building Details Property Address: Street: 426 CRYSTAL BEACH DR WINDSOR City: WINDSOR Property Type Residential Parcel#: 080728218013 Individual Built As Detail h.a.. ___t ___ nv,.t,.:.,.nsr,.tA/.. o,.l - 117nxr o -flan —nn o__:_—nonn,1 '7/1^r/I Ann Identify Results Page 2 of 2 Built As: Exterior: Interior Finish: # of Baths: # of Bdrms: # of Stories: Rooms: Garage: Attached SQ Ft: Basement: Total SQ Ft: 2 Story Frame Stucco Drywall 4 4 2 0 576 1633 Year Built: HVAC: Built As SQ Ft: Roof Type: Roof Cover: Units: Detached SQ Ft: Finished SQ Ft: 2005 Central Air to Air 2333 Concrete Tile 0 0 615 t,.,.,.ii.............o—:..t,«nxrel,ti..,.,C,.i......o,.....A_nTTflnvn.nfT-nn'iflhiflnnfl Identify Results Page 1 of 2 WELD COUNTY ASSESSOR PROPERTY PROFILE Account#: R0044701 Parcel#: 080728218011 Tax Area: 0451 Bordering County: Acres: 0.1054 Township Range Section Quart. 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Subdivison Name Block# Lot# 06-67-28-2 WATER VALLEY FG #6 - - 11 Owners Name & Address: MCGUIRE MICHAEL D & 418 CRYSTAL BEACH DR WINDSOR, CO 80550 Property Address: Street: 418 CRYSTAL BEACH WINDSOR City: WINDSOR Additional Owners: HARRISON VIVIENNE A Business/Complex: Sale Date 4/13/2006 Sale Price $710,500 Sales Summary Deed Type WD Reception # 3379604 Legal Description WIN 6WV L11 WATER VALLEY 6TH FG SITUS: 418 CRYSTAL BEACH WINDSOR 80550 Land Type Residential Land Subtotal: Abst Code 1112 Land Valuation Summary Unit of Number of Measure Units Site Actual Value $249,900 Assessed Value $19,890 Buildings Valuation Summary Bldg# 1 Property Type Residential Improvements Subtotal: Actual Value Assessed Value $286,261 $22,790 Total Property Value Account#: R0044701 Owners Name & Address: MCGUIRE MICHAEL D & 418 CRYSTAL BEACH DR WINDSOR, CO 80550 Building# 1 Building Details Property Address: Street: 418 CRYSTAL BEACH WINDSOR City: WINDSOR Property Type Residential Individual Built As Detail $536,161 $42,680 Parcel*: 080728218011 http://maps2.merrick.com/Website/W eld/setSgl.asp?cmd=QUERY&DET=PP&pin=0$072.:: 7/27/2009 Identify Results Page 2 of 2 Built As: Exterior: Interior Finish: # of Baths: # of Bdrms: # of Stories: Rooms: Garage: Attached SQ Ft: Basement: Total SQ Ft: 2 Story Frame Stucco Drywall 3 -3 2 0 Year Built: HVAC: Built As SQ Ft: Roof Type: Roof Cover: Units: 2006 Central Air to Air 2333 Concrete Tile 0 816 Detached SQ Ft: 0 1633 Finished SQ Ft: 0 Miry //mart e) merrirl( rnm7lXlp4,o roAE7o1A/rorc,.1 ....„9,..„A—nt rvnvn.fCm—nn v._:_—non-rn '7/n^iinnnn Hello