HomeMy WebLinkAbout20052285.tiff RESOLUTION
RE: THE BOARD OF EQUALIZATION, 2005, WELD COUNTY, COLORADO - STIPULATE
PETITION OF:
ELLIS SUZANNE
91320 AV
GREELEY, CO 80631
DESCRIPTION OF PROPERTY: ACCOUNT#: R2970786 PARCEL#: 096106325006- GR
2565 E78' L7 THRU 9 BLK5 PACKARDS SITUS: 911 20 AV GREELEY 80631
WHEREAS,the Board of County Commissioners of Weld County,Colorado,convened as
the Board of Equalization for the purpose of adjusting, equalizing, raising or lowering the
assessment and valuation of real and personal property within Weld County,fixed and made by the
County Assessor for the year 2005, and
WHEREAS, said petition has been heard before the County Assessor and due Notice of
Determination thereon has been given to the taxpayer(s), and
WHEREAS, the taxpayer(s) presented a petition of appeal of the County Assessor's
valuation for the year 2005,claiming that the property described in such petition was assessed too
high, as more specifically stated in said petition, and
WHEREAS,in lieu of the hearing scheduled before the Board of Equalization a Stipulation
was agreed upon by the Assessor and said petitioner(s), and
WHEREAS,the petitioner(s)and the Weld County Assessor agree that the assessment and
valuation of the Weld County Assessor shall be, and hereby is, stipulated as follows:
ACTUAL VALUE
AS DETERMINED ACTUAL VALUE
BY ASSESSOR AS STIPULATED
Land $ 28,665 $ 28,665
Improvements OR
Personal Property 166,489 131,737
TOTAL $ 195,154 $ 160,402
WHEREAS,said Stipulation shall resolve all issues to have been determined by the Weld
County Board of Equalization.
2005-2285
AS0061
Cl' ' 'Js,P 77 //--or-
RE: BOE - ELLIS SUZANNE, R2970786
Page 2
NOW,THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, acting as the Board of Equalization, that the Stipulation agreed to by the Weld County
Assessor and the above-named petitioner(s) be, and hereby is, accepted by the Board.
The above and foregoing Resolution was,on motion duly made and seconded,adopted by
the following vote on the 5th day of August, 2005.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
EL
William H. Jerke, Chair
361 1 ,'.1 � y erk to the Board
EXCUSED
el, ; / M. J. Geile, Pro-Tem
%et: sue-
uty Clerk to the Board EXCUSED
Del\�1�/E
APPRO AS TO FOR
Robe D. Masden
5.§.,sietafirtbunty Attorney
G enn Vaaff
Date of signature: 'V
2005-2285
AS0061
2005
COUNTY BOARD OF EQUALIZATION
WELD COUNTY
ASSESSOR'S ACCOUNT NUMBER R2970786
STIPULATION (As To Tax Year 2005 Actual Value)
RE PETITION OF
NAME: Ellis, Suzanne
ADDRESS: 913 20'n Ave_
Greeley Co 80631
Petitioner(s), Suzanne Ellis and the Weld County Assessor, hereby enter into
this Stipulation regarding the tax year 2005 valuation of the subject property, and
jointly move that the Board of Equalization to enter its order based on this Stipulation.
Petitioner(s) and the Assessor agree and stipulate as follows:
1. The property subject to this Stipulation is described as:
L7 thru 9 Blk 5
2. The subject property is classified as Residential
property.
3. The County Assessor originally assigned the following actual value to the
subject property for tax year 2005.
Land $ 28,665
Improvements 166.489
Total $ 195.154
3. After further review and negotiation, the petitioner(s) and Weld County
Assessor
agree to the following actual value for the subject property.
Land $ 28,665
Improvements 131,737
Total $ 160,402
2005-2285
5. The valuations, as established above, shall be binding only with
respect to tax year 2005.
6. Brief narrative as to why the reduction was made: Inspected property
7/12/05 and also re selected comparables. After market study adjusted
value to $160,402.
7. Both parties agree that the hearing scheduled before the Weld County
Board of Equalization on at be vacated; or, a hearing has not
yet been scheduled before the Board of Equalization xxx
(check if appropriate).
DATED this 12h day of July, 2005.
/ 2
7/
ioner(s) or Attorne t�
—
y eF ' Petitioner(s) or Attorney
Address: Address:
0,�/ 3 41 ,-�
Telephone: 97(:7 5s_ 3cl'-<< • Telephone:
ounty As
Address:
1400 N.17th Avenue
Greeley, CO 80631
(970) 353-3845 ext. 3656
•
NOTICE OF ADJUSTMENT OFFICE OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
l a GR 2565 E78 ' L7 THRU 9 ELKS GREELEY,CO 80631 461 PACKARDS SITUS :TUS : 911 20 AV GREELEY PHONE(970)353-3845,EXT.3650
80631 www.co.weld.co.us
WilDe OWNER: ELLIS SUZANNE
COLORADO •
ELLIS SUZANNE LOG 1533
913 20 AV PARCEL 096106325006
ACCOUNT R2970786
GREELEY, CO 80631 YEAR 2005
The appraised value of property is based on the appropriate consideration of the approaches to value required by law. The Assessor has determined that
your property should be included in the following category(ies):
Residential property - The property is valued by the market
approach to value .
If your concern is the amount of your property tax,local taxing authorities(county,city,fire protection,and other special districts)hold budget
hearings in the fall. Please refer to your tax bill or ask your Assessor for a listing of these districts,and plan to attend these budget hearings.
The Assessor has carefully studied all available information,giving particular attention to the specifics included on your protest,and has determined the
valuation(s)assigned to your property. The reasons for this determination of value are:
The actual valuation of your property has been adjusted based on new
information obtained. This may be information you have supplied, corrections of
characteristics or additional sales which we have uncovered during the appeals
process . This value reflects the market price paid during the base period of
January 1, 2003 to June 30 , 2004 .
PETITIONER'S ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ESTIMATE
• OF VALUE ACTUAL VALUE ACTUAL VALUE
PRIOR TO REVIEW AFTER REVIEW
RESIDENTIAL 233909 195154
TOTALS $ $ 733909 $ 199154
APPEAL DEADLINES: REAL PROPERTY—JULY 15,PERSONAL PROPERTY—JULY 20.
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-
I06(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal.
By: Stanley F. Sessions 06/23/2005
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDE
PR-207-87/03
YOU HAVE THE RIGHT TO APPEAL THE ASSESSOR' S DECISION
The County Board of Equalization will sit to hear appeals beginning July 1 and continuing through August 5 for real
property (land and buildings) and personal property (furnishings, machinery, and equipment). § 39-8-104 and § 39-
8-107(2), C.R.S.
APPEAL PROCEDURES:
If you choose to appeal the Assessor' s decision, mail or deliver one copy of this completed form to the County
Board of Equalization. To preserve your right to appeal, your appeal must be POSTMARKED OR DELIVERED
ON OR BEFORE JULY 15 FOR REAL PROPERTY, AND JULY 20 FOR PERSONAL PROPERTY.
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street, P.O. Box 758
Greeley, Colorado 80632
Telephone (970)356-4000 Ext. 4225
NOTIFICATION OF HEARING:
You will be notified of the time and place set for the hearing of your appeal.
COUNTY BOARD OF EQUALIZATION' S DETERMINATION:
The County Board of Equalization must make a decision on your appeal and mail you a determination within five
business days of that decision. The County Board must conclude its hearings and render decisions by August 5.
TAXPAYER RIGHTS FOR FURTHER APPEALS:
If you are not satisfied with the County Board of Equalization' s decision you must file within thirty days of the
County Board of Equalization' s written decision with ONE of the following:
Board of Assessment Appeals (BAA):
Contact the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (303)866-5880.
www.dola.colorado.gov/baa
District Court:
9th Avenue and 9th Street, P.O. Box C
Greeley, Colorado 80632
Telephone (970) 356-4000, Ext. 4520
Arbitration:
WELD COUNTY BOARD OF EQUALIZATION
915 10th Street,P.O. Box 758
Greeley, Colorado 80632
Telephone (970) 356-4000, Ext. 4225
If you do not receive a determination from the County Board of Equalization, you must file an appeal with the
Board of Assessment Appeals by September 12.
TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY
APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE BE MAILED WITH PROOF
OF MAILING.
PETITION TO THE COUNTY BOARD OF EQUALIZATION
In the space below, please explain why you disagree with the Assessor' s valuation. IN ACCORDANCE WITH §
39-8-106(1.5), C.R.S., IF YOUR APPEAL INVOLVES REAL PROPERTY, YOU MUST STATE YOUR
OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT. Attach additional documents as
necessary. rice,
pt' D�
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INVOICE
File No. 0537113
Invoice# 3783-05
Invoice Date June 23,2005
Fee $300.00
Due Date due upon receipt
Lender or Client: Hunter Financial Group, LLC Borrower. Suzanne Ellis
950 W. Elliot RD. , Ste 120 91$ 20th Avenue
Tempe AZ 85284 Greeley CO 80631
Item Cost
For an Appraisal of a Duplex Residence located at 911 20th Avenue,
Greeley, CO 80631 (2055 form) $300.00
R2‹„ (,-'
/? *
Your Loan #: not given / 3 /4)
Census Tract #: 4.02 (Weld County)
Total Amount Due
Terms
Accounts due and payable within 30 days. For accounts unpaid after 60 days, a rebilling
fee of $5.00 plus a finance charge of 2% per month will be added to the outstanding
balance unless other mutually agreed upon arrangements have be made.
Please remit payment to: Robert H. Kingsbury
KINGSBURY R.E. Appraisals
1326 East 18th Street
Greeley CO 80631
Thank you
KINGSBURY RE APPRAISALS
Mae
-Loan('!' ,r j I:/•v• Quantitative Analysis Appraisal Report File Nis. 053703
11115 SUMMARY APPRAISAL REPORT IS INTENDED FOR USE BY THE LENDER/CLIENT FOR A MORTOASE FINANCE TRANSACTION ONLY.
Property Address 911 20 Avenue City Greeley stereo° z'p case 80631
Legal Descr Pllgn g,78'of Lt 7, 8 6 9, Hlk 5, Packard's Sub, l�e Grae ( county Weld
B Aaeesaor'a Parcel No pIN:R2970786/ Par$:096106325006 Tex Year 2004 E.Taxes s 1031.32 sued+I Assessments E none
J Borrower Suzanne Ellis Current Owner eeme occupant rij owner Tenant Vacant
CNeighborhoodNeighboaod or Protect Name Prolect TyPe I. 1 PUG'PUG7 Condominium HOAE /Mo..
Sales Price E Rafi Date of Sale 6405 Descr pion/$amount of loan charges/concessions to be paid by seller Unknown
Properly rights appraised I a Fee Simple .Leasehold i Map Reference Greeley/Weld County Census Tract 4.02
NOM:Rase and the raDS coapoelUon W Ho neigbbod.000 we net apposes faetorsI i
ie
Built
rate Over 757.Lx 25-T5 Cr Under 25% Marketing
Demand/supply I Shortage s I[:in Stable H Declining $(0,3) ilr�9 (030) apuc. r
Location Urban Suburban Rural Property values L�in balance Declining
PRCE AGE I PRC£lll Sa II/A(£e tow,. Is, - J :(a0) nm) E(�D) (Yra)
UMW(3 cops E i 3-6 coos L II Over 6 nga 100 Low 50 Low
Neighborhood boundaries (N)10th St,(E)14th Ave,(S)13th St,(N)23rd Avenue 250 High 90 High
Residential area just south of the 10th St cosmercial strip, west of TI Predominant 1 1IID Predom^ant
the downtown area of Greeley,(pop 84000) . 1150-200/n ne
Dimensions 78' x 75' (not within a Flood Zone) slrearea 5850 of Shape rectangular
Specific zoning classification and description R-N, Residential medium density
compliance ning S a I Legal --_Legal reermbmxrp(elMMtMM um) F [Illegal attach description I No zoning
Zioling l g use of subspecifications)ject properly as improved(or as Proposed per plans and . I=J Present use El Other use,attach description.
T misses Public Order Public Other ON-en leprovanMnM type Public� Private
F Electricity xi Water x1 Street asphalt xJ 11
Gas r Y _ Watery sewer Ill Alley ROTS Li-- -
Are there any apparent adverse site conditions(easements,encroachments special assessments.slide a etc.)? I I Yee 2 I No If Yes attach description.
Source(s)toed for physical chnactenetiY of properly. ai Interior and exterior mspec r I Exterior Inspection from street I PrevIWs appraisal fibs
I i MLS ii--,Assessment end tax records El Pri«inspection['.Properly obrer I Other(Dessccribe).
No.of Storba One Type(Del./An)duplex Exterior Walls frame Roof Surface comp sh Manufactured Housing Yes x No
Dees the property generally conform to the reglA.rhodd in ferule Of style.cotton,and construction materials? x II Yes I No If No,attach description.
Are there any�apparent physical deficiencies or conditions that would affect the soundness or structural Integrity of the improvements or the livability of the properly'
Il Yes [F sf If Yea,attach description
-
Are there any apparent adverse environmental conditions(hazardous wastes.toxic Substances.etc)present in the ImpIOVOrllenre.On the slier.or In the imnledlalB
vicinity of the subject property? r-1,Yes I al No If Yes,attach daacrtprion.
I researched the sublet(market area for comparable listings and sales that are the moat similar and proximate to the subject property
My research ravealeda total of 20 sales ranging in sales price from E 140000 to$ 180000
My research resealed total of 37 Ii911ng9 ranging In lIst price from r 140000 tos 180000
The analysis of the comparable sales below reflects market reecfion to significant variations between the Baba and the subject property.
FEATURE SUBJECT SALE 1 i SALE 2 SALE 3
911 20 Avenue 1008 22 Ave Crt 818-820 31 Avenue 709 36 Street
Address Greeley, CO Greeley, CO It Greeley, CO Evens,CO
Proximity to sublet[ LJI I IIIIIIIIIII 4 bike SW I21 blks N 3 rot SE
Sales Price $ Refina,i.ll II',II .1111E 158{8751 .Illlkill; $ 150,000 lIIlII111IIIil;i , llfis 169(000
Pne/GNosaLs Aree $ 00 $ 75.940 II .iriiiJ1[IIIll1 $ 96.150 1111* E 62-450 HIFI.'ILJIIIIIIIIII
mtadveoeramrsnes IIIIIIII 168$409779/" t/buyr S$430826/L.Agent 1403211/L.Agent
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION I•HSwauaaentI NL ¢,5!DESCRIPTION -(-)E bimbront DESCRIPTION I.(-)f releases
salsa or Flnancm9 IIIIIIII', fhty/DC44=302 I I /DON=lss atv/Dw•zz3 '
Concessions sir pd costs +3875 sir pd costs -5000 no/LP$169000
Date of Sale/Time IIIIIIII I7
' 02/14/2005 �03/28/OS 10/04/04
__—
Locellon Pekzd's/cadesDaoie/avg -2000 MtnVr/avq Evans/cos -500
Site 5850 sf 7200 e£ -600 I12012sf -3100 19600 sf -1900
nee avg, hews Equal L��cqq , 4RR noise +2000
Design(sty 1 le) etry,duplex-i etry + brunt +10500 -tuyEa+�. Equal.
Actual Age(Ws) 26/1979 51/1954 +3000 1,37/1968 +1000 Equal
Condition average Inferior +5000 Equal Equal__ _
-
JI
. Milli,Taw ad.. Bathe _ II II.u_' Toe m,ma Baths _ i l
Above Grade Total adieu BaYn Teel BOOS awe I
Room Count 8 4 2 '8 4 2 8 '4 2 12 -8 4 ' -6000
Gross Living Area 1974 Ed Ft 2092 SO_Ft -2400 1560 Sc Ft +8300 2706 Sq Ft -14600
Basement 6Fnehed 1974, 254fin idol above -9900 ne +9900 none +9900
Roomssetowerade 1 BR, 1 BA none +4000 one +4000 none +4000
Garage/Ca o t 4pza __ 2 G A. -5000 2 sheds -1000 Equal.
opn ftp -.__.
2pa , rp = ,=,no,no +3500 las =,=,nom+4000 loss,noin,ao,=' +3500
314,;,Is 168,85Om m;130 -4000 1600/coo 106
of Ad;
mparabl(Total) none ,l 10 .none e at 10years
Rent/mo•GRN owner+$500/moowner+$700/mo $1150/ s 140100 0/ I%I_ E 3,600
IIIII IF111II z E 9,975 z •
Ej•
Aelueted Sales Price I II',I 1 flRR 1RL Ill
of Comparmles ,II , II� IRI/fR S 164,100G'a{{ 25% E 165,400
Date Al Prior Sale papa 10/31/03 02/02/99
Price of Prior Sale Fars. E I s 122500 E 154500
— bpc m
Analysis of any current agreement a sale,option«listing w the sLaPct properly am analysis or the prior roes of wbjpr Bel cpnpsades. Subject isn't 6 has
t been recently listed for sale. On a culdesac, ava� condition, with functional floorplan.
Summary of sales comparison and value conclusion pew side by side duplex sales or listings found. Comp 1, most
smiler in location, is a 1 story hose with a basement apt. Approx $10psf counter adj wada for
semen[ living area versus above ground area when bunt area included for above ground size
j E $2Opsf. Sales 2 i 3, the most recent side by side duplex sales found, tend to support
is ajustnent. Analysis of rants in neighborhood Tit port en estimated rent of $550 for the NI
t (with unfin besot) i $700 for the S unit (with same basmt finish) for a total estimated
ant of $1250/coo. At the raised value of $166000 a GRN of 132 is indicated. I
This 1 p«esal ruses I.x as'e', I noblest to cenpeben per OEMs and specifications on the bass or a hypothetical corgtbn that the improvements have been competed.or
subject to the following repairs,alterations or conghons. none
_
CM AN NSPECTION HE STREET NI I OFW11E REAL PROPERTY DDT IS TIE SUBJECT ORS REPORT TO BE$ 060pt ND DO6WR INSPECTION. 1 ESTIMATE TIE NARKS'VALUE. /i5 l
$ 1$6ff •ASOF Jun 16,2005
rNdb Mac ken 2CBa Ppe1AJ 11/9/
J.
Mac n Loan/'/,"/rz1r--/ Quantitative Analysts Appraisal Report File No. 053183
PrC4eCt lafermeS am on far P .(If applicable) - Is the developer/builder In control of the homeowners'association(HGA)? I_ I Yes ni No
Provide the following information for Puns only if the developer/builder is in control of the HOP and the sublect property is an attached dwelling unit
Total number of phases Total number of units Total number of units sold
Total number of units rented - Total number of units for sale Data Source(s)_ .-._.
Was the project created by the conversion of existing buildings into a POD" fI Yes [ I No If yes,date of conversion-
Does the protect contain any multi-dwelling units? ' lees ,j No Data Source:
Are the common elements complete' i 'Yes L.__1 No If No,describe status of completion
Are any common elements leased to or by the homeowners association? �Yes 7 No It Yes,attach addendum describing rental terms and options.
Describe common elements and recreational facilities.
This section is not applicable.
Protect Iwfereeaan for Coedoaaaae ale Of applicable)--Is the developer/builder in control of the homeowners'association(HOA)? Yes t I No
Provide the following information for all Condominium Projects.
Total number of phases Total number of units Total number of units sold
i Total number of units rented Total number of units for sale Data source(s)
Was the project created by the conversion of existing buildings into a condom nlum' [ i yes r I No It Yes,date of conversion.
Protect Type Primary Residence ( 1 Second Home or Recreational L ,Row or Townhouse l 'Garden in Makin lI Hlghriae ,,
ICondition of the project,quality of construction.unitw m .etc
Are the common elements completed? I-1 Yes r 1 No If No,describe status of completion
�
any common elements leased to or by the homeowners'asscolahon? yea [ 7 No If Yes,attach addendum describing rental terms and options.
Describe common elements and recreational faculties
Are
is section is not applicable.
PURPOSE OF APPRAISAL The purpose of this appraisal is to estimate the market value of the real property that is the subject of
this report based on a quantitative sales comparison analysis for use in a mortgage finance transaction.
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 considers his 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 markets reaction to the financing or concessions based on the
appraiser's judgment.
STATEMENT OF LIMITING COICTIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND UNITING COt tTIONS:The appraiser's certification that appears in the appraisal report is subject to the
following 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 The
appraiser assumes that the title is good and marketable and, therefore. will not render any opinions about the title. The property is
appraised on the basis of it being under responsible ownership.
2. The appraiser has provided any required sketch in the appraisal report to show approximate dimensions of the improvements and
the sketch is included only to assist the reader of the report in visualizing the property and understanding the appraiser's determination
of its size.
3- 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.
4. The appraiser has noted in the appraisal report any adverse conditions (such as. but not limited to, needed repairs, 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 normal research involved in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has
no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions (including the presence of
hazardous wastes,toxic substances,etc.)that would make the property more or less valuable,and has assumed that there are no such
conditions and makes no guarantees or warranties, expressed or implied, regarding the condition of the property. 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, the appraisal report must not be
considered as an environmental assessment of the property.
5. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he
or she considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy
. of such items that were furnished by other parties.
i 6. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional
1 Appraisal Practice.
I 7. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute
the appraisal report (including conclusions about the property value, the appraiser's identity and professional designations, and
references to any professional appraisal organizations or the firm with which the appraiser is associated) to anyone other than the
•
borrower; the mortgagee or its successors and assigns; the mortgage insurer; consultants; professional appraisal organizations; any
state or federally approved financial institution; or any department, agency, or instrumentality of the United States or any state or the
District of Columbia: except that the lender/client may distribute the report to data collection or reporting service(s)without having to
obtain the appraiser's prior written consent. The appraiser's written consent and approval must also be obtained before the appraisal
can be conveyed by anyone to the public through advertising,public relations,news,sales,or other media.
8. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to completion per plans
and specifications on the basis of a hypothetical condition that the improvements have been completed.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to completion, repairs.
or alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
Fmk Mac Form 20b5- Page 2n13 f1R1
m -Loan/'n'ya rn-r Quantitative Analysis Appraisal Report Fire No. 053713
APPRAISER'S CERTIFICATIOIt The Appraiser certifies and agrees that.
1. I performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of the
comparable sales(unless I have otherwise indicated in this report that I also inspected the interior of the subject property);(2)collecting,
----'confirming.and analyzing data from reliable public and/or private sources; and (3) reporting the results of my inspection and analysis
in this summary appraisal report. I further certify that I have adequate information about the physical characteristics of the subject
property and the comparable sales to develop this appraisal.
2. I have researched and analyzed the comparable sales and offerings/listings in I the subject
area
d have comparablereported
ma the
comparable sales in this report that are the best available for the subject propertycertify
ket
data exists in the general market area to develop a reliable sales comparison analysis for the subject property.
3. t have taken into consideration the factors that have an insect on value in my development of the estimate of market value in the
appraisal report.I further certify that I have noted any apparent or known adverse conditions in the subject improvements,on the subject
site,or on any site within the immediate vicinity of the subject property of which I am aware,have considered these adverse conditions
in my analysis of the property value to the extent that I had market evidence to support them, and have commented about the effect
of the adverse conditions on the marketability of the subject property- I have not knowingly withheld any significant information from
the appraisal report and I believe,to the best of my knowledge,that all statements and information in the appraisal report are true and
correct.
4. I stated in the appraisal report only my own personal, unbiased, and professional analysis. opinions. and conclusions, which are
subject only to the contingent and limiting conditions specified in this form.
5.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 the
estimate of market value in the 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.
6. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the property.
7. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the
amour of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation,
a specific valuation,or the need to approve a specific mortgage loan_
8. I estimated the market value of the real property that is the subject of this report based on the sales comparison approach to value.
I further certify that I considered the cost and income approaches to value. but, through mutual agreement with the client, did not
develop them,unless I have noted otherwise in this report.
9. I performed this appraisal as a limited appraisal, subject to the Departure Provision 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 as of the effective date of the appraisal (unless I have otherwise indicated in this report that the appraisal is a complete
appraisal,in which case.the Departure Provision does not apply).
10. 1 acknowledge that an estimate of a reasonable exposure time in the open market is a condition in the definition of market value.
The exposure time associated with the estimate of market value for the subject property is consistent with the marketing time noted
in the Neighborhood section of this report. The marketing period concluded for the subject property at the estimated market value is
also consistent with the marketing time noted in the Neighborhood section.
11. I personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. I further certify
that no one provided significant professional assistance to me in the development of this appraisal.
SUPERVISORY APPRAISER'S CERTIFICATION:If a supervisory appraiser signed the appraisal report,he or she certifies and agrees
that I directly supervise the appraiser who prepared the appraisal report, have examined the appraisal report for compliance with the
Uniform Standards of Professional Appraisal Practice. agree with the statements and conclusions of the appraiser, agree to be bound
by the appraiser's certifications numbered 5 through 7 above,and am taking full responsibility for the appraisal and the appraisal report.
APPRAISER. /01 / _ .� / �✓ a eYP VIeO11T APPMIIER(ONLY F Y
Signature-
_La(/'^(/'(/[/r
Name: Robert S. Kingsbury Name:
Company Name: KINGSBURY R.K. appeals .._ Company N ne:
Company Address: 1326 East 18 Street Company Address: --
Greeley, CO 80631
• Date of Report/Signature: 6/16/05 L 6/22/05 Date of Report/Signature:
State Certification#: Cart-Res.Appr: x101313010 . _ State Certification#:
or State License#: or State License#:
State: Colorado State:
Expiration Date of Certification or License Dec 2006 Expiration Date of Certification or License
ADDRESS OF PROPERTY APPRAISED: SUPERVISORY APPRAISER
911 20th Avenue SUBJECT PROPERTY:
Greeley, CO.80631 ] Did not inspect subject property
I Did inspect exterior of subject property from street
APPRAISED VALUE OF SUBJECT PROPERTY $ 166000 I__': Did inspect interior and exterior of subject property
EFFECTIVE DATE OF APPRAISAL/INSPECTION: 06/16/05 COMPARABLE SALES:
FT Did not inspect exterior of comparable sales from street
LENDER/CLIENT: I Did inspect exterior of comparable sales from street
Name: Donald Gilespie
Company Name: Hunter Financial Group, LLC--..._ .
Company Address: 950 R.slliot Rd, mope,AZ85284
Freddie Mac Farm 2055 Ps0e➢l3 11697
r`
QUALIFICATIONS OF ROBERT H.KINGSBURY
Faration
B.A.Political Science,Hobart College,Geneva,N.Y.,1964
MA.International Relations,Univ.S.Calif-London,England,1969
Appraisal Courses'
I-A Basic Principles of Appraising (AIREA)
8 Residential Appraising (AIREA)
102 Applied Residential Property Valuation (SREA)
A&B Standards of Professional Practice (Al)
210 Residential Case Study (AI)
600&610 Residential Income Capitalization&Cost AprovLea(Al)
Appraisal Seminars:
Residential Condominiums Solar Energy Valuation,Cash Equivalency,URAR&
SRIPAR Appraisal Forms,The Challenge of Measuring Economic rti,rJ.w race,
Advanced Appraiser Techniques in Employee Relocation Appraisals,Residential Review
Appraiser's Dilemma&Market Extraction's, FHA and the Appraisal Process
Other Seminars in related subjects:
AD Valorem Tax&Assessed Values, Colorado Water Law,Environmental
InformatiorwReporting concerning real estate Home Energy Rating Systems.
Association Memberships
Affuilate Member-Greeley Board of Realtors,
Designated Member-Graduate Realtors Institute(GA.!.)
LIMAS
Certified Residential Appraiser in Colorado since July 1991
Licensed Real Estate Salesman in Colorado since Dec. 1969(inactive since 1992)
Professional Appraisal Experience
Sept.1971-Dec. 1981. Real Estate Appraiser associated with Robert J.Mitchell,M.A.I.,
Greeley,CO. Participated in and completed appraisals on several retail/commercial
properties,vacant development land,mobile home courts and condemnation appraisals.
Primary emphasis was all forms of residential properties including mountain recreational
and forest fire casualty loss appraisals.
Dec. 1981-present. Independent Fee Appraiser(KINGSBURY R.E.APPRAISALS)
specializing in residential and small income properties in Weld @ Latimer Counties,
Colorado.
Jun 1992-Jun 1997, Staff Appraise for Chase Manhattan Mortgage Corp.(formerly
Chemical Residential Mortgage Corp.,formerly Margaretten&CO,Inc.),Boulder
Branch Greeley office.
Also a fee appraiser for Veterans Administration,and qualified as expert witness in Weld
County&Denver District Courts,
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T" **4CERT RES10ENTI PRAISER * • • ++ + !! e
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This u to comb that panne shown below r ..•. scree'. I* Pohlan angel +nnw ea provided for b •.. .� . .... ..: s ,a.. thirty Rat, rah
... ,..by the Board d Real Feet cot WITNESS by pry
and ofscalsal at Denier,Cab tbh 1-* day
ROBERT HEROERT KINGSBURY of
1326 E 18TH-ST
OREELEY, CO 80631 r�
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