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Home My WebLink About930666.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO PETITION OF: HALL JOHN P & DEBORAH A BOX 6 DACONO, CO 80514 DESCRIPTION OF PROPERTY: PIN: R 6006086 PARCEL: 146906211005 - DAC 19836-A L5 & 6 BLK169>531 CHERRY ST% WHEREAS, the Board of County Commissioners of Weld County, Colorado, organized 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 1993, 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 1993, 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: ORIGINAL ADJUSTED Land $ 10,500 $ 10,500 Improvements OR Personal Property 86,012 73, 907 TOTAL ACTUAL VALUE $ 96, 512 $ 84,407 WHEREAS, said Stipulation shall resolve all issues to have been determined by the Weld County Board of Equalization. 930666 Page 2 RE: BOE - HALL JOHN P & DEBORAH A 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 28th day of July, A.D. , 1993. / Waal? BOARD fOF COUNTY COMMISSIONERS ATTEST: WEL W BOARD COUNTY,FCOLORADO I Weld County Clerk to the Board F y� �,r � G f ! c Const nce L. rbert, Chairman BY: Z� Deputy Cle k to the Bo W. Webster, ro-Tem A�ROMF AS TO FORM: / Al. �.� eb eorge . Baxte ,ems County Attofn y �__ Dale K. Hall EXCUSED Barbara J. Kirkmeyer 930666 1993 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR' S PIN NUMBER 6006086 STIPULATION (As To Tax Year _1993 Actual Value) RE PETITION OF NAME : John P. & Deborah A. Hall ADDRESS: P O Box 6, 531 Cherry Street Dacono, Colorado 80514 Petitioner(s) , John P. Hall and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year 1993 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 : DAC - 19836-A L 5&6 Blk 16 531 Cherry Street 2 . The subject property is classified as residential property (what type) . 3 . The County Assessor originally assigned the following actual value to the subject property for tax year 1993_: Land $ 10, 500 Improvements $ 86 , 012 Total $ 96,512 4 . After further review and negotiation, the petitioner(s) and Weld County Assessor agree to the following tax year 1993 actual value for the subject property. Land $ 10, 500 Improvements $ 73, 907 Total $ 84 ,407 5 . The valuations, as established above, shall be binding only with respect to tax year 1993 930666 6 . Brief narrative as to why the reduction was made: adjustment due to sales comparisons 7 . Both parties agree that the hearing scheduled before the Board of Equalization on 7-28-93 (date) at 4 : 00 pm (time) be vacated; or, a hearing has, not yet been scheduled before the Board of Equalization (check if appropriate) . DAT/EDG this / day of„/ 1993_. Petitioner(s) or Attorney Petitioner(s) or Attorney Address : Address : )D, So/‘/.57.7/ e75 /// 1A conc9i 'r-J roc/ el Telephone: 2 ?z,z2o '7 Telephone: OJ .Lure p/ounty e .s. / Address : 1400 North 17th Avenue Greeley, CO 80631 Telephone: (303) 353-3845 ext. 3656 33066C .. _ - „.._ S 1 HbJ_J:V•: 1400 NORTH 17th AVE. GREELEY, COLORADO 80631 NOTIa-E OF ADJUSTMENT PHONE (303) 353-3845, EXT. 3656 Wilk DAC 19936—A L5 6 6 BLK16%531 CHERRY ST% •i COLORADO 531 CHERRY RST 6 3DACONDCj OWNER HALL JOHN P 5 DEBORAH A HALL JOHN P 5 DEBORAH A PARCEL 1 4690 6211005 PIN R 6006086 BOX 6 YEAR 1993 DACONO CO 90514 LOG 01555 05/25/1993 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 IS VALUED BY CONSIDERING THE MARKET APPROACH. AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE CAPACITY OF THE LAND, CAPITALIZED AT A RATE SET BY LAW. ALL OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERING THE COST, MARKET, AND INCOME APPROACHES. 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 deter- mined the valuation(s) assigned to your property. The reasons for this determination of value are: BASED ON A STUDY OF COMPARABLE PROPERTIES THAT SOLD FROM 1 /1 /91 TO 6/30/92 WE HAVE ADJUSTED YOUR PROPERTY TO THE 1993 LEVEL OF VALUE A5 SHOWN BELOW. PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE OF VALUE PRIOR TO REVIEW AFTER REVIEW LAND 10, 500 10, 500 IMPS 86, 12 80,242 ' TOTALS $ $ 96. 512P 90 042 If you disagree with the Assessor's decision,you have the right to appeal to the County Board of Equalization forfurther consideration, 39-8-106(1)(a),C.R.S. Please see the back of this form for detailed information on filing your appeal. 8y. WARREN L. LASELL ' . 05/0 9/93 W i ELD COUNTY ASSESSOR � 4 m ts•aPr AR • �r^ � /7 � C DATE Form PR-207-37/93 "' ADDITIONAL INF+�RMATION ON REVERSE SIDE Q3�3 'if!�i YOU HAVE IG f 4. }'Y[:Art., , /i4. ASE, SST -_ The Coui“y Board of Equalization will sit lo-hear appeals beginning July "I and con,lnuir r, torcugn August 10 far real properly (iand and buildings) and personal property (furnishings, machinery, and equipment). 39-8-104 and 39-8-10i't2), 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 ,jUL'Y` 15 FOR REAL PROPERTY, AND.JULY g0 FOR PERSONAL PROPERTY, WELD COUNTY BOARD OF EOUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (30 ) 356-4000, Ex[. 4225 NOTIFICATION OF HEARING: , You will he 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. The County Board must conclude their hearings by August 10. TAXPAYER RIGHTS"Pon FURTHER rAPPE'ALS; It you ,rF not Satisfied with the County Roard of Equalization's decision, you must iilewithin thirty days of the Cr.unty Eic,yrd c Equalization's written decision with ONE ot.the following: r Board of Assessment Appeals 4BAA)e , Contact the BAA at 1313 Sherman, Room 315, Denver, Colorado 80203, (303) 868-5880. District Court: 9th Avenue and 9th Street, P.O. Box C Greeley, Colorado 80632 Telephone (30'3) 356 4000, Ext. 4520 'Arbitration; WELD COUNTY BOARD OF EQUALIZAHON 9'15 10th Street, P.U. Sax 7,58 Greeley Coiorado 80532 T eiep ore (30 3) 3bE, r100(, F::x,... 1225 It you do not receive a determination from the .,,,Thn r '. and t hlltak-/alfon,you most file an appeal with t',`3 , Board Appeals by September 20. Z' PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILE(: A "f"iMELY 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 disco ,, with the Assessor's valuation, IN ACCORDANCE WITH 398- 06(i,5), C,f7.S., YOU MUST STATE YOUR OPINION OF VALUE IN TERMS OF A SPECIFIC DOLLAR AMOUNT, Attach additional documents as necessary. AU./ f1w ioovAWA la C. dnae on J-/9- Jo•t efee �"/.'n.nce pa/j/9/alert fate .. w�lo t4.1/G 6✓oj' j, 000 .lir l iej/iz, a tl;c is 1_ owf% de Tie T'.wr /.ce Pal c -4 on 14,a r1'j row/oaf e'e— • Wowtnos_ evreo.. e /,„ewj YIP Stitt/tes71-w ?Cc - A /,nf krra. 1,.e/.eo",'n$ . ,'.: a PA. -/y r6r.ee /e.( c r 4.c c .'S oe a',) en, feoVrsry rile Co../a/ `as -e _rayed nt 9) ,A.. d thCoppe c( 9/. c /-/- s/ >.l,eM 6-J ' -9a ...yMeete4rp v4/me s40,•1d g'Do00 IA,ip• L he Ala/Sent Oct, 10 Ater r es / ,q /rNl n g,:;. x tar (Dr nNF9 930666Y t7c.�� l>t. „ CLERK TO THE BOARD P.O.BOX 758 GREELEY,COLORADO 80632 Wipe (903)356-IOOD EXT.4225 COLORADO July 9, 1993 Parcel No. : 146906211005 PIN No. : R 6006086 HALL JOHN P & DEBORAH A BOX 6 DACONO, CO 80514 Dear Petitioner(s) : The Weld County Board of Equalization has set a date of Wednesday, July 28, 1993, at or about the hour of 4:00 P.M. , to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Centennial Center, 915 10th Street, Greeley, Colorado, in the First Floor Hearing Room. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor will be present before the Board. The Board will make their 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, 1993, and mailed to you on or before August 10, 1993. 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. 93066e HALL JOHN P & DEBORen A - R 6006086 Page 2 At least two (2) working days prior to your hearing the Assessor will have available, at your request, the data supporting his valuation of your property. 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 EQUALIZ TION 41 ce L onald D. Warden, Clerk took the Board BY: arol A. Harding, Deputy cc: Warren Lasell, Assessor 93066 File No. B531CHER APPRAISAL OF • rt. .\ ,t l , 1 Ji�, �l Single Family Dwelling LOCATED AT: 531 Cherry Street Dacono, CO 80514 FOR: Banc Plus Mortgage Corporation 7575 E Hampden Ave #40I Denver CO AS OF: March 19, 1993 BY: AL Eckerdt ALO1315756 al_. • MULTI-PURPOSE SUPPLEMENTAL ADDENDUM FOR FEDERALLY RELATED TRANSACTIONS B531CHER Borrower/Client Hall Property Address 531 Cherry Street City Dacono County Weld State CO Zip Code 80514 Lender Banc Plus MortRaRe Corporation This Multi—Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a con— venient way to comply with the current appraisal standards and requirements of the Federal Deposit Insurance Corporation (FDIC). the Office of the Comptroller of Currency (0CC), The Office of Thrift Supervision (OTS), the Resolution Trust Corporation (RTC) and the Federal Reserve. This Multi-Purpose Supplemental Addendum is for use with any appraisal.Only those statements which have been checked by the appraiser apply to the property being appraised. © PURPOSE 8 FUNCTION OF APPRAISAL The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The function of the appraisal is to assist the above-named Lender in evaluating the subject property for lending purposes. This is a federally related transaction. © EXTENT OF APPRAISAL PROCESS X The appraisal is based on the information gathered by the appraiser from public records, other identified sources, inspection of the subject property and neighborhood, and selection of comparable sales within the subject market area. The original source of the com— parables is shown in the Data Source section of the market grid along with the source of confirmation, if available. The original source is presented first.The sources and data are considered reliable. When conflicting information was provided, the source deemed most reliable has been used. Data believed to be unreliable was not included in the report nor used as a basis for the value conclusion. X The Reproduction Cost is based on Marshall & Swift's Cost Manual supplemented by the appraiser's knowledge of the local market. X Physical depreciation is based on the estimated effective age of the subject property. Functional and/or external depreciation, if present, is specifically addressed in the appraisal report or other addenda. In estimating the site value, the appraiser has relied on personal knowledge of the local market. This knowledge is based on prior and/or current analysis of site sales and/or abstraction of site values from sales of improved properties. El The subject property is located in an area of primarily owner-occupied single family residences and the Income Approach is not consi- dered to be meaningful.For this reason,the Income Approach was not used. The Estimated Market Rent and Gross Rent Multiplier utilized in the Income Approach are based on the appraiser's knowledge of the subject market area.The rental knowledge is based on prior and/or current rental rate surveys of residential properties.The Gross Rent Multiplier is based on prior and/or current analysis of prices and market rates for residential properties. El For income producing properties,actual rents,vacancies and expenses have been reported and analyzed. They have been used to pro- ject future rents,vacancies and expenses. © SUBJECT PROPERTY OFFERING INFORMATION According to Current MS data base the subject property: El has not been offered for sale in the past 30 days. 0 is currently offered for sale for$ was offered for sale within the past 30 days for$ 0 Offering information was considered in the final reconciliation of value. I Offering information was not considered in the final reconciliation of value. I Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum. © SALES HISTORY OF SUBJECT PROPERTY According to Assessor's off ice records the subject property: X) has not transferred in the past twelve months. has transferred in the past twelve months. 0 All prior sales which have occurred in the past twelve months are listed below and reconciled to the appraised value, either in the body of the report or in the addenda. Date Sales Price Document# Seller Buyer © FEMA FLOOD HAZARD DATA El Subject properly is not located in a FEMA Special Flood Hazard Area. Subject property Is located in a FEMA Special Flood Hazard Area. Zona FEMA Map/Panel# Map Date Name of Community The community does not participate in the National Flood Insurance Program. The community does participate in the National Flood Insurance Program. 0 It is covered by a regular program. 0 It is covered by an emergency program. FW-70M titans&Worms Inc..315 Whitney Ave..New Raven.CT 06511 All Rights Reserved July 1991 sr.ram nip-vend.0 r.ne,.The Anna..ose a..Fam imm 2M-UM. °1066 • B531CHER MI CURRENT SALES CONTRACT OThe subject property Is currently not under contract. The contract and/or escrow instructions were not available for review.The unavailability of the contract is explained later in the addenda section. OThe contract and/or escrow instructions were reviewed.The following summarizes the contract: Contract Date Amendment Date Contract Price Seller OThe contract indicated that personal property was not Included in the sale. The contract indicated that personal property was included.It consisted of Estimated contributory value is$ OX Personal property was not Included in the final value estimate. QPersonal property was Included in the final value estimate. I. The contract indicated no financing concessions or other incentives. 0 The contract indicated the following concessions or incentives: IIf concessions or incentives exist, the comparables were checked for similar concessions and appropriate adjustments were made, if applicable, so that the final value conclusion is in compliance with the Market Value defined herein. © MARKET OVERVIEW Include an explanation of current market conditions and trends. 1-4 months is considered a reasonable marketing period for the subject property based on h8S data base © ADDITIONAL CERTIFICATION The Appraiser certifies and agrees that: (1) The analyses,opinions and conclusions were developed, and this report was prepared, in conformity with the Uniform Standards of Professional Appraisal Practice("USPAP"),except that the Departure Provision of the USPAP does not apply. (2) Their compensation is not contingent upon the reporting of predetermined value or direction in value that favors the cause of the client, the amount of the value estimate,the attainment of a stipulated result,or the occurrence of a subsequent event. (3) This appraisal assignment was not based on the requested minimum valuation,a specific valuation, or the approval of a loan. © ADDITIONAL(ENVIRONMENTAL) LIMITING CONDITIONS The value estimated is based on the assumption that the property is not negatively affected by the existence of hazardous substances or detrimental environmental conditions unless otherwise stated in this report. The appraiser is not an expert in the identification of hazardous substances or detrimental environmental conditions. The appraiser's routine inspection of and inquiries about the subject property did not develop any information that indicated any apparent significant hazardous substances or detrimental environmental conditions which would affect the property negatively unless otherwise stated in this report. It is possible that tests and inspections made by a qualified hazardous substance and environmental expert would reveal the existence of hazardous substances or detrimental environmental conditions on or around the property that would negatively affect its value. El ADDITIONAL COMMENTS © APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION Appraiser's Signature G ./,.-r 1.6 Effective Date 1-17-91 Date Prepared 1-29-93 Appraiser's Name (print) _Ec erdt _ Phone#(-3_03 ) 753_71333_- State CO X I License Certification# AL01315756 Tax ID# 52"t-68-4706 CO-SIGNING APPRAISER'S CERTIFICATION OThe co-signing appraiser has personally inspected the subject property,both inside and out,and has made an exterior inspection of all comparable sales listed in the report.The report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the contents of the report including the value conclusions and the limiting condi- tions, and confirms that the certifications apply fully to the co-signing appraiser. OThe co-signing appraiser has not personally inspected the interior of the subject property and: X'has not inspected the exterior of the subject property and all comparable sales listed in the report. has inspected the exterior of the subject property and all comparable sales listed in the report. MThe report was prepared by the appraiser under direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the contents of the report, including the value conclusions and the limiting conditions, and confirms that the certifications apply fully to the co-signing appraiser with the exception of the certification regarding physical inspections. The above describes a level of inspection performed by the co-signing appraiser. OThe co-signing appraiser's level of inspection, involvement in the appraisal process and certification are covered elsewhere in the addenda section of this appraisal. © CO-SIGNING APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION Co-SigningAir Appraiser's Signature • er. Effective Date 3-17-93 Date Prepared 3-29-93 Co-Signing Appraiser's Name (print) T. Eckerdt Phone#X303 ) 753-1333 State CO 0 License 0 Certification# AL01315757 Tax e ID# 523-68-4706 PW-70M game&Warm.inc.,315 Whitney Ave.,New Haven.CT 06511 All Rights Finr ad July 1991 rni.,n.W"-W ion Fenton n.µp n..ax.Lvfn„'Wm CEom 224-irun All-Metro Appraisers .O,4.r' 1f s ty oe o' n a Maya. UNIFt I RESIDENTIAL APPRAISAL RF RT Fee en. B531CHER Property Address 531 Cherry Street Census Tract 0022.2. LENDER DISCRETIONARY USE city Dacono County Weld State CO Zip Code 80514 Siva Price $ Legal Description Lots 5 & 6 Blk 16 Date Owner/Occupant Hall Sale Price$ Refinance Date of Sale N/A Map Reference 3060 Mortgage Amount $ _ Property Flights Appraised Mortgage Type Loan charges/concessions to be paid by seller$ N/A X Fee Simple Discount Points and Other Concessions RE.Taxes$ 1 ,387.68 Tax Year 1992 HOA f/Mo. 0.00 Leasehold Paid by Seller $ Lender/Client Plus Mortgage Corporation Condominium(HUD/VA)• 7575 E Hampden Ave #401 Denver CO 9HNId(dlg(Puo Source LOCATION UUrban L-]Suburban Rural NEIGHBORHOOD ANALYSIS Good Avg. Fair Poor BUILT UP 8X Over 75% ❑25-75% Under 25% Employment Stability (r❑[J ❑X ❑ ROWTH RATE Convenience to PPROPERTY VALUES X Rapid Increasing ❑Stable Declining Convenience to Shopping Employment L.l [ ❑ DEMAND/SUPPLY Shortage ❑X In Balance Over Supply Convenience to Schools 0 n MARKETING TIME X Under S Moe. _ 3-6 Moe. Over 6 Mos. Adequacy of Public Transportation N® E O ❑ PRESENT LAND USE% LAND USE CHANGE PREDOMINANT SINGLE FAMILY HOUSING Recreation Facilities ❑ ® ❑ ❑ Single Family 90 Not Likely ® OCCUPANCY PRICE • AGE Adequacy of Utilities pi ❑X ❑ O 2-4 Family 0 Likely (r��i Owner 0 f(000) (yrs) Properly Compatibility u ❑X ❑ ❑ Multi-lamily 0 In process U Tenant El 48 Low 5 Protection from Detrimental Cond. Q ❑ ❑ Commercial 5 To: Vacant(0-5%) X 95 High 35 Police 6 Fire Protection Cl ❑ ❑ Industrial 0 Vacant(over 5%) Predominant General Appearance of Properties ❑X ❑ ❑ Vacant 5 75 - 20 Appeal to Market n n n Note: Race or the racial composition of the neighborhood are not considered reliable appraisal factors. COMMENTS: See Attached Addendum. Dimensions 100 x 140 Topography Basically level Site Area 14000 Sq.Ft. +1— comer Lot Yes Size Typical for area Zoning Classification Res ident ial Zoning Compliance Yes Shape Rectangular HIGHEST s BEST USE:Present Use Yes Other Use No Drainage Appears adequate UTILITIES Public Other SITE IMPROVEMENTS Type Public Private View Mountain view Electricity ❑X Street Asphalt ❑X ❑ Landscaping Typical for area Gas X Curb/Gutter Concrete Q ❑ Driveway Paved Water ® Sidewalk Concrete ® ❑ Apparent Easements Normal utility ease. Sanitary Sewer Street Lights Intersect ions ❑x a FEMA Flood Hazard Yes* No Storm Sewer Alley None n n FEMA*Map/7one #0802360001A COMMENTS(Apparent adverse easements.encroachments,special assessments.slide areas.etc.): Site is encumbered by normal utility easements and easements of records. GENERAL DESCRIPTIONI EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION Units One Foundation Concrete_Slab No Area Sq.FL 1 456 Roof Cncl. ❑ Stories One Exterior Walls FR/Metsdnp Crawl Space None %Finished 90 Ceiling Cncl. A Type(Det./Att.) Detached Roof Surface Comp.Shng. Basement Yes Ceiling PDW walla Cncl. .. , Design(Style) Ranch Gutters&Dwnepte. Aluminum Sump Pump None noted Walls Paneling Floor Cncl. Existing Yes Window Type Aluminum Dampness None noted Floor Crpt/tile None ❑ Proposed No Storm Sash NO Settlement None noted Outside Entry None AdequacyUnk. ❑ Under Construction No Screens Yes Infestation None noted Energy Efficient Items: I Age(Yrs.) 20 Manufactured House No la adequate is Effective Age(Yrs.) 10 assum. ROOMS Foyer Living Dining Kitchen Den Family Rm. Rec.Rm. Bedroom Y Baths Laundry Other Area Sq.Ft. Basement 1 2 1 _ X 1 ,456 Level 1 1 1 2 1 1 ,456 Level 2 Finished area above grade contains: 4 Rooms: 2 Bedroomjs): 1 Bath(s); 1 ,456 Square Feet of Gross Living Area SURFACES Materials/Condition HEATING KITCHEN EQUIP. ATTIC IMPROVEMENT ANALYSIS Good Avg Fair Poor Floors Crpt/Vinyl/Avg. Type FWA Refrigerator ❑x None ❑ Quality of Construction ❑ ❑X ❑ ❑ Walls PDW/Average Fuel Gas Range/Oven Q Stairs ❑ Condition of Improvements ❑ ® ❑ ❑ Trim/Finish Stained Wood/Avg.Condition Avg. _Disposal Q Drop Stair ❑ Room Sizes/Layout ❑ ❑X ❑ ❑ ' Bath Floor Vinyl/Average Adequacy Adeq. Dishwasher ❑x Scuttle ❑X Closets and Storage 0000 r Bath Wainscot Plastic encl./Ayg COOLING Fan/Hood Q Floor ❑ Energy Efficient 0000 Doors Wood hollow core Central No Compactor ❑ Heated ❑ Plumbing-Adequacy.A Condition 0000 interior doors/Average Other EVapClr Washer/Dryer HI Il Finished ❑ Electrical-Adequacy &Condition 0 ❑ Condition AV(i. Microwave �i Kitchen Cabinets-Adequacy 6 Cond. X ❑ ❑ Fireplace(s)WDSTV # 1 Adequacy Ade . Intercom J House Entry X Compatibility to Neighborhood X [1]CAR STORAGE: Garage el attached AdegAdequateX Appeal d Marketability X ❑ 110 No.Cars 2 Carport �--1Detached inadequate f❑'�1 Outside Entry Estimated Remaining Economic Life 45-5OYrs. Condition AVg. None ! Built-In Electric Door 1 1 Basement Entry Estimated Remaining Physical Life N/AYrs. Additional features: Interior features include wood stove in family room, ceiling fans, built-ins and decorative items. Exterior features front stoop, rear deck, landscaped front and rear yard, fenced rear yard, fenced dog run, sprinkler system, concrete_driveway. _ Depreciation(Physical.functional and external inadequacies.repairs needed.modernization.etc.): Depreciation taken based on the age/life method. Owner has replaced roof on house since purchased and 2 years old on garage/breezeway. Furnace is original. Hot water heater tank is 2 years old. Interior decor is acceptable to .market. 1 General market conditions and prevalence and impact in subjecVmarket area regarding loan discounts, interest buydowns and concessions: The general market can best be described as improving with the local economy. Real estate prices are experiencing some upward pressure as the local economy improves and inventories of available housing are reduced. Seller concessions in the form of loan discount points can be expected. trial,.Mac Form 70 10/16 rr.Form...mn cm The 447 ms.Om L......•nn..WO n.+m.A Fanni.Mae Form 1001 10/N 93066S Valuation Section UNIFr _ RESIDENTIAL APPRAISAL RV AT h7.No. B531 CHER Purpose of Appraisal Is to estimate Market Value as. ..ned in the Certification 8 Statement of Limiting Conditions. BUILDING SKETCH(SHOW GROSS LIVING AREA ABOVE GRADE) ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: If tar Freddie Mae or Fannie Mae,show only square fool calculations and coal approach comments in this space Dwelling 1 ,456 Sq.FL e$ 34.00`$ 49,504 GLA 52.00 x 28.00 x 1 = 1456 Bsmt. 1456sq.Ft.e$ 12.00- 17,472 Land value estimate reflects only contributory valuEExtras Kit. Equip., WDSTV, Upgd- 6,500 towards subject's improvements and the actual value may vary from this estimate. Reproduction costs were Special Energy Efficient Items SW - 1 ,000 taken from the Marshall & Swift's Cost Manual with Porches.Patios,etc. Stoop,DE,Breezwy- 11600 adjustments for local building costs. Garage/Carport 576 Sq.FL0$ 12.00- 6,912 Total Estimated Cost New -$ 84,988 Physical Functional External Less 19% 07. 07. Depreciation 16,148 $0 $0-$ —16,148 Depreciated Value of Improvements -$ 68,840 Site Imp.'as is'(driveway,landscaping.etc.) -$ 4,000 ESTIMATED SITE VALUE `$ 15,000 (If leasehold.show only leasehold value.) INDICATED VALUE BY COST APPROACH -$ 87,800 (Not Required by Freddie Mac and Fannie Mae) Construction Warranty UYes W No Does property conform to applicable HUD/VA property standards? ®Yes QNo Name of Warranty Program If No, explain: Warranty Coverage Expires The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar adjustment,reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant item in the comparable properly is superior to, or more favorable than, the subject properly, a minus (-) adjustment is made, thus reducing the indicated value of subject; if a significant item in the comparable is inferior to. or less favorable than, the subject property, a plus (•) adjustment is made. thus increasing the indicated value of the subject. ITEM SUBJECT COMPARABLE NO.1 COMPARABLE NO.2 COMPARABLE NO.3 531 Cherry St225 2nd Street 120 7th Street 550 Birch Street Address Dacono CO 119 DOM 12 DOM 2 DOM Proximity to Subject +/- 1 Mile North +/- 4 Biks SW +/- 1 Blk West Sales Price $Refinance $ 74,350 $ 83,000 $ 79,000 Price/Gross Liv.Area $ 0.00 0 $ 51 .63 0 $ 67.48 0 $ 65.29 0 Data Source Inspection MLS/SOLD/AGENT SOLD/BROKER/AGENT •LD/BROKER/AGENT VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION •(-)s Adjustment DESCRIPTION .01 Adjustment DESCRIPTION •(-)$Adjustmenl Sales or Financing CNV CNV FHA Concessions fS1r Pd $1153 0 Slr Pts Slr Pd $990 Dale of Sale/Time 3-19-93 10-15-92 3-10-93 3-26-93 Location Dacono Firestone +2,000 Dacono Dacono Site/View 14000SF/Mt.Vt7500SF/Street +2,000 10500SF/Stree +1 ,000 16500SF/Stree +1 ,000 Design and Appeal Ranch/Avg. Ranch/Avg. -3,000 Ranch/Avg. -3,000 Ranch/Avg. -3,000 Dualityof Construction FR/MP/AverageFB/Average FB/Average BR/Average -2,000 Age 20 Years 18 Years 43 Years +1,000 23 Years z Condition Average Average _Average Good -3,000 Above Grade Total Bdrms Bath Total Bdrm. Bath Total Wren Bath Total Bdrms Bath eC Room Count 4 2 1 5 3 1 5 3 1 .5 —1 ,500 5 3 1 Gross Living Area 1 ,456 Sq.Ft. 1 44OSgFt. 1 ,230 Sq.Ft. +4,500 _ 1 ,210Sq.Fl. +4,900 u Basement 8 Finished 1456 SF/90%Fi1440 Sq.Ft. 250 Sq.Ft. None Rooms Below Grade BR,BA,FR UnfinishedW/O +41100 Unfinished +6,100 _ +11 ,200 Functional Utility Average Average_ —1 Average —1 ,000 Average —1 ,000 ___ Heating/Cooling Gas FWA/EvClrcas HW/Inf. -1 ,500 Gas FWA/In£ +500 Gas FWA/EvC1r Garage/carport 2 Car Garage__2 Car Garage 2 Car Garage 2 Car Garage Porches,Patio Landscaped,SFLandscaped, +1 ,200 Landscaped, +1 ,200 Landscaped,SP Pools,etc. Stoop,DE,BreEStoop, Patio Stoop, Deck __. Stoop, Patio Special Energy Insulation isInsulation is Insulation is Insulation is Efficient Items asm.adeq./SW asm.adeq./SLR asm.ade_q./Inf +1 ,000 asm.adeq_/Inf +1_000 Fireplace(s) 1 WDSTV _1 WDSTV _ 1 FFL 1 WDSTV Other(e.g.kitchen 'Kit. Equip. Kit. Equip. Kit. Equip. Kit. Equip. equip._remodeling) Updating U•datin Superior -7,500 Superior -7,500 Net Ad)(total) __ X + ]- $ 3,800 (X]+ E 2O00 + I ]_ $ 1 ,600 Indicated Value of Subject $ 78,150 - $ 85,300 $ 80,600 Comments on Sales Comparison: See Attached Addendum. INDICATED VALUE B7 SALES COMPARISON APPROACH $ . 83,000 INDICATED VALUE BY INCOME APPROACH(If Applicable)Estimated Market Rent$ N/A/Mo. x Gross Multiplier N/A-$ N/A This appraisal Is made 1 "as is❑ subject to the repairs, alterations, inspections, or conditions listed below ❑ completion per plans and specifications. Comments and Conditions of Appraisal: See Attached Addendum. Final Reconciliation The Sales Comparison Analysis was given primary consideration as it most closely represents the motivations of the typical buyer. ' This appraisal is based upon the above requirements, the certification, contingent and limiting conditions. and Market Value definition that are stated in ❑FmW&HUD 8/or VA instructions. 0 Freddie Mac Form 439(Rev. 7/86)/Fannie Mae Form 1004B (Rev. 7/86) filed with client 19 0 attached. I(WE)ESTIMATE THE MARKET VALUE.AS DEFIED,OF THE SUBJECT PROPERTY AS OF March 17 19 93 to be$ 83,000 I(WE)certify:that to the best of my(our)knowledge an belief,the facts and data used herein are true and correct;that I(we)personally inspected the subject property, both Inside and out.and have made an exterior inspect' n of all comparable sales cited in this report;and that I(we)have undisc sed interest,present or prospective therein. / --7 Appralser(s) sxauna , -�<- Review Appraiser SIGNATURE /ii-- O Did 0 Did Not MAC A Ec erdt (it applicable) MAIL Tom ckerdt Inspect Property *tithe Mac Fpm 70 10/ee All—Metro Appraisers Fannie Mae pone 1004 10/86 ALO1315756 AIA1315757 0 0661+ File No. 8531 CHER NEIGHBORHOOD COMMENTS: Subject is located east of Weld Cty Rd 13 (Colorado Blvd) and south of State Hwy 52, approximately +1- 28 miles north of Denver's Central Business District. The immediate area consists primarily of tract quality SFR of average appeal. Access to local shopping, schools and freeway access (State Hwy 52) is considered good. Access to all other residential support facilities is considered average for the area. Trend is for slightly appreciating real estate values as the local economy continues to improve, interest rates remain low, and inventories of existing homes is reduced. COMMENTS ON SALES COMPARISON: Lack of sold required appraiser to use best available sold located and to make adjustments atypical of standard appraisal practice. Comparable #1 was adjusted for location. MI three comparables were adjusted upward for inferior site/view. Comparable#2 & #3 were adjusted downward for design/appeal. Comparable #3 was adjusted downward for quality of construction and for condition. Comparable #2 was adjusted upward for age. Comparable #2 was adjusted downward for superior bath. SF differentials were adjusted at$20/SF. Basement SF differentials were adjusted at $5/SF unfinished areas, at$8/SF finished areas and $3000 for walk-outs. MI three comparables were adjusted downward for functional for additional main floor bedroom. Comparable #1 was adjusted downward for superior heating and upward for inferior cooling. Comparable #2 was adjusted upward for inferior cooling. Comparable #1 & #2 were adjusted upward for inferior lawn irrigation. Comparable #2 & #3 were adjusted upward for storm windows. Comparable #2 & #3 were adjusted downward for superior updating including kitchen and bath remodeling and superior floor coverings. Subject's value per square foot of$57.00 is within the range established by the market data. COMMENTS AND CONDITIONS OF APPRAISAL: Lack of sufficient rental data prevents the application of the Income approach to value. The appraisal assignment was not based on a requested minimum valuation, a specific valuation, or the approval of a loan. Subject last sold 6-03-86. • - - — � — .. I I ' { i _ • Ca CheRl�l DAC0N4Y cii6 . . i--` I iC -- + I r,+4oed yeJRoyj8414 MAsTFR I I .--�_r- '-y--4--+--- : 1i GA 1494" BARS, r 1Y,J—au $dR aa- ,.I . _- -. I I 7 I LIYING ,..I. .j,,`,/IabR . . J{ .hw +I `I - _ —,.--- I-1- . . ; I Ur.t.I.t_: IBai6 Bed !_ _' 1 BOOM L n,�1011_r .. .. 1- 1 III 1 k-.R 'r I -' 1 inn ' T ' I I ■ r- I_.f I-1 . - �4M,1y _._. .__BOON- _ _ .__. __ T,_� .�— � �J-� ___I____t_ 1 4 I fl00M. 1 - _ __ y-_ -- • LOCATION MAP: IDENTIFY LOCATION OF SUBJECT AND COMPARABLE SALES. i C O c W ,c • -.I Ii it . C 5!.:: •, '-:e.;'. i �C 3�'' . ' l • an E iiuludiil ill{iij: G • at •' ,e _-• L? `� C.I _. W i it 1 E y a t ■ ■■�l ll 3 1 0 SOS-4 Aty 12/ee • ass: 0 SUBJECT PROPEk. I PHOTO ADDENDUM Pile No. 8531 CHER 1 '.. A • _ 1 ,,e h , FRONT VIEW OF SUBJECT PROPERTY AT: 531 Cherry Street Dacono, CO 80514 Appraised: March 19, 1993 Appraised Value: $80,000 k � � . / :pi A ¶. • _ a q,• s _ REARVIEWOF SUBJECT PROPERTY minim .�. ; Air • 140 r • w• � r., n STREET SCENE sc . s , 1 93066E COMPARABLE SALtS PHOTO ADDENDUM File No. B531CHER � ; ! , i , it t it COMPARABLE SALE 1/1 225 2nd Street 119 DOM _...tiSale Date: 10-15-92 ."k �.. It Sale Price: $74,350 -- r40713W,tiler', IA AVirit is t' 1 a 'R` .t:=+ COMPARABLE SALE 1!2 ; 120 7th Street AF 12DOM Sale Date: 3-10-93 . .. Sale Price: $83,000 .. 'y . tfr 4i < 1' X y ° COMPARABLE SALE#3 550 Birch Street 2 DOM Sale Date: 3-26-93 Sale Price: $79,000 t3066q File No. 8531 CHER 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 market's reaction to the financing or concessions based on the appraiser's judgment. CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS CERTIFICATION:The appraiser certifies and agrees that: 1. The Appraiser has no present or contemplated future interest in the property appraised; and neither the employment to make the appraisal, nor the compensation for it, is contingent upon the appraised value of the property. 2. The Appraiser has no personal interest in or bias with respect to the subject matter of the appraisal report or the participants to the sale. The "Estimate of Market Value" in the appraisal report is not based in whole or in part upon the race, color, or national origin of the prospective owners or occupants of the property appraised, or upon the race, color, or national origin of the present owners or occupants of the properties in the vicinity of the property appraised. 3. The Appraiser has personally inspected the property, both inside and out, and has made an exterior inspection of all comparable sales listed in the report. To the best of the Appraiser's knowledge and belief, all statements and information in this report are true and correct, and the Appraiser has not knowingly withheld any significant information. 4. All contingent and limiting conditions are contained herein (imposed by the terms of the assignment or by the undersigned affecting the analysis, opinions, and conclusions contained in the report). 5. This appraisal report has been made in conformity with and is subject to the requirements of the Code of Professional Ethics and Standards of Professional Conduct of the appraisal organizations with which the Appraiser is affiliated. 6. All conclusions and opinions concerning the real estate that are set forth in the appraisal report were prepared by the Appraiser whose signature appears on the appraisal report, unless indicated as "Review Appraise'. No change of any item in the appraisal report shall be made by anyone other than the Appraiser, and the Appraiser shall have no responsibility for any such unauthorized change. CONTINGENT AND LIMITING CONDITIONS:The certification of the Appraiser appearing in the appraisal report is subject to the following conditions and to such other specific and limiting conditions as are set forth by the Appraiser in the report. 1. The Appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or the title thereto, nor does the appraiser render any opinion as to the title, which is assumed to be good and marketable. The property is appraised as though under responsible ownership. 2. Any sketch in the report may show approximate dimensions and is included to assist the reader in visualizing the property. The Appraiser has made no survey of the property. 3. The Appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made therefore. 4. Any distribution of the valuation in the report between land and improvements applies only under the existing program of utilization. The separate valuations for land and building must not be used in conjunction with any other appraisal and are invalid if so used. 5. The Appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The Appraiser assumes no responsibility for such conditions, or for engineering which might be required to discover such factors. 6. Information, estimates, and opinions furnished to the Appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished the Appraiser can be assumed by the Appraiser. 7. Disclosure of the contents of the appraisal report is govemed by the Bylaws and Regulations of the professional appraisal organizations with which the Appraiser is affiliated. 8. Neither all, nor any part of the content of the report, or copy thereof (including conclusions as to the property value, the identity of the Appraiser, professional designations, reference to any professional appraisal organizations, or the firm with which the Appraiser is connected), shall be used for any purposes by anyone but the client specified in the report, the borrower if appraisal fee paid by same, the mortgagee or its successors and assigns, mortgage insurers, consultants, professional appraisal organizations, any state or federally approved financial institution, any department, agency, or instrumentality of the United States or any state or the District of Columbia, without the previous written consent of the Appraiser; nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without the written consent and approval of the Appraiser. 9. On all appraisals, subject to satisfactory completion, repairs, or alterations, the appraisal report and value conclusion are contingent upon completion of the improvements in a workmanlike manner. Date: March 19, 1993 Appraiser(s) 6040*Mac rdt .....�.. Frn O6 a66 Fvn 4116 a 66 ALO13 15756 R7056' Hello