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Home My WebLink About930663.tiff RESOLUTION RE: THE BOARD OF EQUALIZATION, 1993, WELD COUNTY, COLORADO PETITION OF: DENNIS GERALD D & LINDA L 5340 ARROWHEAD DR GREELEY, CO 80634 DESCRIPTION OF PROPERTY: PIN: R 2732586 PARCEL: 095927204015 - AH1-13 L13BLK1 ARROWHEAD 2ND FILING %5340 ARROWHEAD DR% 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 $ 34,875 $ 29,925 Improvements OR Personal Property 148,516 130, 004 TOTAL ACTUAL VALUE $ 183,391 $ 159,929 WHEREAS, said Stipulation shall resolve all issues to have been determined by the Weld County Board of Equalization. 930663 Page 2 RE: BOE - DENNIS GERALD D & LINDA L 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. /J //11 , 1 BOARD OF COUNTY COMMISSIONERS ATTEST: / .� WELD COUNTY, COLORADO Weld County Clerk to the Board ' o 72- � Constance 1- H rbert, Chairman BY: CputyCSAyd W. HH.. Webster, Pr Tem APPROVED AS TO FORM: / sc / i'J2-Xc eo ge,„r. Baxter ‘it4County Attorney Dale . Ha EXCUSED Barbara J. Kirkmeyer 930663 1993 COUNTY BOARD OF EQUALIZATION WELD COUNTY ASSESSOR' S PIN NUMBER 2732586 STIPULATION (As To Tax Year 1993 Actual Value) RE PETITION OF NAME : Gerald D. Dennis ADDRESS : 5340 Arrowhead Drive Greeley, Colorado 80634 Petitioner( s) , Gerald D. Dennis 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 : AH1-13 L13 Blk 1 Arrowhead 2nd Filing 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 $ 34 , 875 Improvements $_148,516 Total $ 183, 391 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 $ 29 , 925 Improvements $ 130, 004 Total $ 159 ,929 5 . The valuations, as established above, shall be binding only with respect to tax year 1993 930663 6 . Brief narrative as to why the reduction was made: After inspection of the property and reappraisal adjusted. 7 . Both parties agree that the hearing scheduled before the Board of Equalization on July 28, 1993 (date) at 4 : 00pm (time) be vacated; or, a hearing has not yet been scheduled before the Board of Equalization (check if appropriate) . )-t.-12) DATED this <% day of , /7`2 ) . Petitioner(s) or Attorney Petitioner(s ) or Attorney Address : Address : 5 .'yol�v oa� dz --2-ter,�ej Gr f aC1 4/ Telephone: j'5/- 5997 Telephone: Sfrft 1 / Address : 1400 North 17th Avenue Greeley, CO 80631 Telephone: ( 303) 353-3845 ext. 3656 930663 OFFICE OF COUNTY ASSESJO 1400 NORTH 17th AVE. GREELEY,COLORADO 80631 NOTICE OE ADJtfSTMlEN7 PHONE (303) 353-3845, EXT. 3656 Ali'-13 L13SLK1 ARROWHEAD 2ND RILING C. 45340 ARROWHEAD OQ% COLORADO 5340 ARROWHEAD GOR A-RPrJ IE OWNER DENNIS GERALD D C LINDA L • O NWiS GERALD D C LINDA L PARCEL 39592721)40'15 PIN R 2732536 • ) 534;) ARROWHEAD) DR YEAR 1993 GREELEY CO 63634 LOG O'373 05/07/1993 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): 3ESIOEMTIAL PROPERTY IS VALUED BY CONSIDERING THE MARKET APPROACH, AGRICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE CAPACITY OF THE LAND, CAPITAL!2E.° AT A RATE SET BY LAW. ALL OTHER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERING THE COST, MARK;=Ts 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 fora 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 SOLO FROM 1 /I /9r TO 6/33/92 WE HAVE ADJUSTED YOUR PROPERTY TO THE 1993 LEVEL Or VALUE AS SHOWN BELOW, PETITIONER'S ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ESTIMATE ACTUAL VALUE ACTUAL VALUE OF VALUE PRIOR TO REVIEW AFTER REVIEW LAND 34875 340375 IMPS 148, St Ds 1341571 TOTALS $ $ IR3a 491 $ 164p44fi 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. Please see the back of this form for detailed information on filing your appeal. By: _ WA,RREN L. LASELL 35/17/93 WELD COUNTY ASSESSOR CC �� ► DATE 931J66i31 2 Form PR-207-87/93 ADDITIONAL INFORMATION ON REVERSE SIDE YOU HAVE The RIGHT TO APPEAL THE;ASSESS:d-ti'S.DEC,S'it:N The County Board a :rough August 10 for re l property band • r li 39-8-104 and 39-8-107(2), C.R.S. O`11/7°/ APPEAL PROCEDI If you choosetoap! -3- 93 . - - / �� J-3. t�; form to the County Boa-d of E:,:f; Iizatic OR DELIVERED ON . ; , . ! . • . , • . NOTIFICATION Ot You wiil notifi= d COUNTY BOARD C The County Board' c =rmination within five business days. The County Board must conclude their hearings by August 10. TAXPAYER RIGHTS`FOR'FURTHER APPEALS: r -� ` S *s• c _ '.: . . • , r ‘ - ': t .! • ;•' If you are not satisfied with the County Board of Equalization's.decision,,you.must file tarithirx.t(iirty days.of tiae County Board.o€:Eq ialization's.written decision with40N E of the fatlywing. .., , r. _ , . , . . " • _ Board of Assessment Appeals (BAA): ` , , • Contact the BAA at 1313 Sherman. Room 315, Denver, Colorado 80203, (303) 866-5880. District Court: 9th Avenue and 9th Street, P.O, Box C Greeley, Colorado 80632 - • Telephone (30.3.) 356-40Q0, E)4...4620. . . r. . • - ` Arbitratfont v , . WELD COUNTY BOARD OF EQUALIZATION 915 10th Street, P.O. Box 758 Greeley, Colorado 80632 Telephone (303) 356-4000, Ext. 4225 If you do not:•ec.&ve a determination from the County Board of Equalization,you must file an appeal with the Board of.µsse_sment Appeals by September 20. TO PRESERVE YOUR APPEAL RIGHTS, YOU MUST PROVE YOU HAVE FILED A TIMELY APPEAL; THEREFORE, WE RECOMMEND ALL CORRESPONDENCE RE 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- -106(1.5), C:R.S., YOU MUST STATE YOUR OPINIO OF VALUE IN TERMS OF A SPE CIFIC DOLLAR AMMOUNT. Attach additional documents as necessary. !'' a j''-'at 1-30.92_ clAe-421-1-:""fre-e-ois4024- .„,..kur:Z.,?te a.ire- ..s'vz -r+." /SAO a /24,244 - fusa-e400,-001-v-g-4z 930663 CLERK TO THE BOARD ID P.O. BOX 758 GREELEY,COLORADO 80632 VI C. (303)356.1000 EXT.4225 COLORADO July 9, 1993 Parcel No. : 095927204015 PIN No. : R 2732586 DENNIS GERALD D & LINDA L 5340 ARROWHEAD DR GREELEY, CO 80634 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. 1!),V661 DENNIS GERALD D & LINDA L - R 2732586 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, L °OF SALIZATIO US Donald D. Warden, Clerk to the Board p BY: 4/ 4hp-h.ev' it Carol A. Harding, Deputn cc: Warren Lasell, Assessor 930561 ..•,,:,,.,<,,, sit,..,>n ..a sviFd'v' Ft9`$lLi 1'17"ioLtii APPRAISAL Fe"'�?(7E T' rite No. Puipc se of Appraisal is to estimate Market Value or led in the Certification 8 Statement of Limiting Condilioa BUILDING SKETCH(SHOW GROSS LIVING AREA , t GRADE) ESTIMATED REPR. 2ION COST-NEW-OF IMPROVEMENTS: it rw fled'''.Mac or Fannie Mae.show only Shire loot caiW Ions and cost appoach comments rn Ih,.apace. Dwelling ?,923 Sq.Ft.FD$ 47./19 -$ 138,813 DAs'S ONMART MARKET 756 Sq.FL W$ 10.00 2,560 1 . Sears F. Co. 3i0-7700 - 11 . . . . Extras A/C - Ap-lliances - 5,000 2. Scott Realty 752-1212 '9 Barn - Fans - Hot Tut 15,000 3. Scott Realty 352-1212 189 . Special Energy Efficient Items Dhli n wind - 2,000 Porches,Patios.etc. 4 Patios 4,000 Garage/Carport 676 Sq.Ft.Vi)$ 16.38 - 11 ,072. COS APPROACH INFORMATION Total Estimated Cost New - $ 178,44F • MARSHALL & SWIFT Physical Functional ' External Good Quality Less age A-61 Depreciation 37,120 -$ '12, 120 Depreciated Value of Improvements '-$ 146,325 Site Imp."as is"(driveway,landscaping,etc.) -$ 2,500 ESTIMATED SITE VALUE - $ 70.000 (II leasehold,show only leasehold value.) ACCESS: VIA OWNER INDICATED VALUE BY COST APPROACH -$ 16R.R75 (Not Reguuea by Freddie Mac and Fannie Mae) Construction Warranty I .1 Yes I.(-I No Does property conform to applicable HUD/VA property standards? 0 Yes Q No Name of Warranty Program If No. explain. Warranty Coverage Expires The uncers,gnec nas recited three recent sales of properties most similar and proximate to subject and had considered these in the market analysis.The description includes a dollar adiustmenl,rellecmq market reaction to(hose items of sgnilicanl variation between the subject and comparable properties.II a significant item in the comparable property is superior to.or more favorable than the subject properly,a minus I-I adnalmenl is made. thus reducing the indicated value or whoa if a significant item in the comparable is inferior to. or less lavorabie than the suoiect property,a plus 1-41 adjustment is made,thus increasing the indicated value el the subject ITEM SUBJECT COMPARABLE NO. I COMPARABLE NO.2 COMPARABLE NO.3 53'10 Address t9� -'a '17617 Arrowhead Drive 16582 Loopsd r Proximity to Subject I Peak Rd. 1� .9 ,7th Atroun � m Aorth 7p nith Sales Price •S n/a [[ $ e^- - III Ul I III11RjII_s III If 1 "1 t uflII S F Price,Gross Liv. Area S n/a 0 $55•.;g mpj .Ill—IIflI I is $6.2.1 refoil]tIIlllllllilll $5 7- CLI Ifllf(liIfllllff Data Source TNSPFCflON MIS RE-AT, ESTATE WS REAT, F A^E MLS REAL ES ATE VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION •1-)5 Aalustment DESCRIPTION •I-is Adarslmem DESCRIPTION •HS Is women, Sales or Financing I II r • VA CASH CONVENTIONAL Concessions 1 5 Points: 7,1100__ 0 Point 2 Point•: Date of Sale/Time ri/a 1 7-90 ?-q0 11-90 ' Location .Arroulioad Arrowhead _Di narlr• PI- ,T10i04SL_ rot:ntrY Moy[}l Site/View - 15_Ar 1 79 Arra G 7 Arm G 1 77 Arrn C, Design and Appeal R"T net G 'Ranch P. Ranch n Ranch_________E. Quality of Construction lBri c4 G E3R rR r +7 500 iirlr r BR Si ell nil P Age• gedition 11 8 -',Unit 8 -=3p000 7R +1'i,nnn f:nnd Cc'o-a C- o'1 , Cond Above Grade Total ,Barns i Baths Total .BMms r Bates total dle Bs. Oaths Total i Berms) Baths Room Count 7 : 3 'hi4 8 ; 3 13/a`/2-1 ,000 8 ; 4 13/4/ -3,500 7 . 3 ; III +1,000 Gross Living Area ",923 Sq.FL 2,630 Sq.F1. 1+3,000 2,438 Sq.ft. +5,000 1,793 Sq.Ft. +11. ,000 • Basement 8 Finished 256 0 1 ,546 87%-i10,000 918 90% Rooms Below Grade Unf.ioi>hed MR-FR-BA 412,250 None +1 ,000 2BR-3/4RA-ReIr.- 6,500 • Functional Utility Good Goa'. Good Good Heating/Cooling F/A _A/C H/W No +2,000 F/A A/C H/W No ) + 2,000 - Game/Carport 7-far-Att. 7-Car Att. 2-Car Att. 2-Car Att. Porches,Patio. Deck -1,500 Pools.etc. Patio Patin Pa t Special Energy ou'al Doti o Dou� lo .ane Doublepane Doiinlenann Douhlepa!Te Efficient Items Mgineall , t Window:. Window,. Windows Fireplace's) 1-LV al Wood Stove + 2,000 1-FM RM 1-FM RM Other leg. kitchen App. S/P A'gy App. App• equip_remodeling) p' F3 r Shen + S,000 Barn _ + 5,000 Nene +10.000 Net Adj. (total) I -IN -, + -;S 1<.750 + -'S Indicated Value I'll R i i 1 •500 + -'= 37.500 of subject I ll ill, $ 157,250 $ 156,500 $ 157,500 Comments on Sales Comparison: All coin arable^ are tracts with large square footacte. All are ranch styles with 2-car ,rarages. Comp ;k2 inferior location. Square feet adjusted at $10. Basements and finishc'd area adjusted at $5 each. INDICATED VALUE IT SALES COMPAniSON APPROACH $ 157,500 I INDICATED VALUE BY INCOME APPROACH(If Applicable)Estimated Market Rent S n/a /Mo.x Gross Rent Multiplier t --$ n/a This appraisal is made I:c I"as is"I I subject to the repairs,alterations,inspections or conditions listed below f--i completionperplans and I I p specifications. Comments and Conditions of Appraisal: Very unique property. Comparahicc of Chic size an, limited. Bc.t available used. Adjnuatments large. hut r°quired. Final Reconciliation: Jnenmr Apnrnarh not- rnn^eiclprod nn this hypo, and e i zit property Market. . Approach is heat method of estimating value. Cost Approach is higher, which reflect the slow economy f Weld County to the Market Approach. This appraisal is based upon the above requirements, the certification,contingent and limiting conditions,and Market Value definition that are staled in FmHA.HUD 8/or VA instructions. . 1;; I Freddie Mac Form 439(Rev. 7/86)/Fannie Mae Form 10046(Rev.7/86) tiled with client 1 (WEI ESTIMATE THE MARKET VALUE. AS DEFINED, OF THE SUBJECT PROPERTY AS OF April 76, 199191_ nattacho. April 76, le 91 UM$1`i7,�00 I(Wk) certify: that to the best of my lour)knowledge and 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 inspection of altcomparable sales cited in this tenon;and that I(we)have no undisclosed interest,present or prospective therein. // y /a Appraisegs) siGNATur1E i .!---"' .e hit Review Appraiser sioNAtunE ❑Did I .I Did Not "TAME ROBERT R. CLIFT C A fit applicable) NAMF 'oche Mac Fo.m;0 t0,dd Inspect Property Fannie Mao Form 1004 10/85 930661 ;: -,;;FIFO' ii LSILL.I',i ( J/-'+i.. J'-1 ':1'"riA1SAL is 0,31' Flt*No. irooc ', Aeoress '�11�.r 2:.,: ".p� Census Tract 1,1 (l r _ LENDER DISCRETIONARY USE. _City • Grr,.jr,‘. County _1.' Stale Zip Code Anti;T Sale Price S legal Description T•,-tt- '-i..__I•T1oc : 1 , Arrc. :12 ' ._Soccnrt Dale Ownei/Occupant Gcr-plc'-1)._£x-.1.ir'-''42,.yl nti Map Relerence rit Mortgage Amount S Sale Price S r-1,./-.! Dale of Sale n/a_ PROPERTY RIGHTS APPRAISED Mortgage Type Loan charges,concessions to be paid by seller S n/atR Fee Simple Discount Points and Other Concessions R E. Taxes S 1 ,oc,1.98 Tax Year j @913 HOA S/Mo. n/a [_E Leasehold Paid by Seller S Lender/Client UNION r.OLONY HANK [1 Condominium(HUD/VA) 1— 1 De Minimis PUD Source LOCATION I(khan Suburban [_ J Rural NEIGHBORHOOD ANALYSIS Good Avg Fan Poor BUILT UP I _J Over 75t Fil f 25-75"� [ ]Under 25 Employment Stability rx ' U GROWTH RATE r ]Rapid al Stable i Slow —1 IL O Li_ �C, ] Convenience to Employment _.J PROPERTY VALUES [ }Increasing D]Stable 1 I]Declining Convenience to Stropping El PJ i O DEMAND'SUPPLY r 1 Shortage rxi In Balance ❑Over Supply Convenience to Schools DUD O MARKETING TIME 7-1 tinder 3 Mos (_ 13.6 Mos n Over 6 Mos Adequacy of Public Transportation_ 1�rv� {} D PRESENT LAND USE LAND USE CHANGE PREDOMINANT SINGLE FAMILY HOUSING Recreation Facilities ] U U ❑Single Family 60 Not Likely r X OCCUPANCY r PRICE AGE 2.4 Family `-- Adequacy of Utilities �, C J El S(000i efts) X _ 2l-4 Famil likely Owner 9(po Ei Properly Contpatibitity 0 [11 El Multi-family — In process L1 Tenant 10%Q _6R Lev. Ne I Protection horn Detrimental Cond. r--1 Commercial To Vacant (0.5'0► r_] -mn Ho fin Police&Fire Protection I I V1 El O Industrra+ Vacant (over 5%)[—I Predominant General Appearance of Properties ] ri n n Vaacant 40 1 q1t_ — ,2 Appeal to Market F-1 Note Race or the racial composition of the neighborhood are not considered reliable appraisal factors COMMENTS Arrowhead is locate:' Southwest of Greeley. This su divirion has older ruction to the East, new section to West and South. Many o'rrnsive cur to11L 110 s on =1^_reacpq. _ Agriculture one llveCtoc% allowed. Attractive aren-1 A.Lrnllay e_Lai,:e. Dimensions 2. 1'5 Acres Topography Fiat Site Area 93,654 Suit;; Feet Corner Lot No Sue Typical Zoning Classification R-11 Auriculirurc: ,cr Zoning Compliance Y. Shape Ct,';CfdCl;l ^ HIGHEST & BEST USE Present Use Yc,S Other Use No Drainage UTILITIES Public Other SITE IMPROVEMENTS Type Public Private View Adequate Electricity (71 Street E " ent Gas ] Gravel O Landscaping ticx.r�if—lye t urr Curb/Gutter Wale' E Sidewalk No ro E rn- Driveway Gray^I !^ ] Apparent Easements 1�P Sanitary Sewer El Sc12tic Street Lights No C O FEMA Flood Hazard Yes' No Storm Sewer Ti Alley [ ' I l FEMA* Map/Zone non 7f R nR 1 Q( y"'— COMMENTS(Apparent aoverse easements.encroachments, special assessments.slide areas.etc l PAser►rnts }tort nnrrnZrhmnntc; ,uh,}crt to Survey. P1rz•0. cht?l'tc Ti.TJ1 Pnlir' for rnstrirt 'ions and y 117 C CnvnjlaIyt'a of Xr'MrCl _ GENERAL DESCRIPTIONI 'EXTERIOR DESCRIPTION 'FOUNDATION BASEMENT `INSULATION Units inn Foundation Slab Stones Qno Caneretn Ain Area Sq.Ft. r..6Root El Exterior Walls jTri rl 1 Crawl Space i %Finished Ceiling R-3O O 1 Type (Del./All) t �8°n n Ceilin rk,t.„11,,0 Roof Surface A,,)halt. c htncl Basement 170„ Ceiling Wood Walls ] Design(Styler Gutters&Dwnspts . Sump Pump WasR_ 1!' El 8anc'�-- p .Mak.�l Nn Walls Floor il E xist+n Cnor ref n g _ v�s: - Window Type .ASAt 41 Dampness No Floor None ❑ Proposed �� Storm Sash Settlementr^nnrrntr+ 1 Yes No Outside Entry btr, Adequacy Under Construction No Screens �,ce Infestation No Age{Yrs 1 St or-�;s+ au:. Energy Efficient Items: 1 Manulactwed House N^ Ttt ilit not Firenlace II Effective Age(Yrs 1 , 1 }r y Dhlon 'ROOMS Foyer Living Dining Kitchen Den Family Rm Rec.Rm. Bearooms # Baths Laundry Other Area Sq.Ft. Basement Level 1 — - — - -- -- ��'fi *Level 2 1 i 1 1 t _ --x 1. /^ 2,9 3 I-Frnrshed area above grade contains. 7 Rooms: 1 Bedroomis): 1 1,/z1 Bath(s): SURFACES Materials/Condition HEATIN(', KITCHEN EQUIP. ATTIC 92 Square Feet of Gross Living Area Floors IMPROVEMENT ANALYSIS Good Avg. Fair Poor Car;;et-Tile (; - Type FA Rcingerator n None Quality of Construction I Walls nr}^z11 1 a Fuel r-. Range/Oven Stairs Condition of Improvements vi z Trim/Finish W)d ( Condition Avg. Disposal Drop Stair Room Sizes/Layout a LY_.I Bath Floor ra rppt i Lr, a Adequacy Avg_ Dishwasher Scuttle E Closets and Storage Bath Wainscot Ti1�, G COOLINGFan/Hood Floor Energy Efficiency Ell CI El O El Door, lY^nil 1: Central Yn�; Compactor ( I Heated (�[ P• lumbrng•Adequacy&Condition [� Other No Washer/Dryer Finishedrl D El �] ( ] Electrical-Adequacy&Condition Fri Condition Microwave [� L 1 K• itchen Cabinets-Adequacy&Cond. El pi El Fneolacersll� ict �N'nta l " Adequacy p��cl Intercom [� [ ' C• ompatibility to Neighborhood —I O CAR STORAGE Garage I:c I Attached - 1.2L.1 Adequate [y.-1 House Entry Appeal& Marketability No Cars Carport l___1 Detached Inadequate Outside Entry• Condition None n ] Estimated Remaining Economic Life k7,_so Yrs. A�", 1�,Builldn n Electric Door] LBasement Enlryj1Estimaled Remaining Physical Life }A ED El Additional features , �r r Yrs. S`ritl .1.cr .,v_.t;rm - A00l ir-1nres- 17' 1r 77' h xrn - Hat hih - Fi^L rnnr- - Ai r concli Ili[etSnnina — Gravel entry tam-, n �; — l— Fenring — 1 ratio — A f .nice Cr1try' - T�_r •ltr,r (�� clor Depreciation IPhysrcal,functional and external inadequacies,repairs needed,modernization.etc.): NO re1,z i rn neeclFr' — Gnnrl conch i t ion — Laroe Polito_ on one level.. Very rnaf-i ous_room'' z• .9aa1 1 l,,iqorllorl1; for storN12 111r1 uti?it'/ room only. Garaoe is lar;te with npenrre Ind valtn arc finished. General market conditions and prevalence and impact in subject/market area regarding loan discounts.interest buydowns and concessions: Grr`cley and surrcninclinc: area, irr.luclinc; Arrowhead Subdiv�'c' 'r aivity. Mary ty�:". of loin.. arc ,3v<)11r7lhlE? :tit.1. int'c r�F rah.-r. f �rnrl t= vary da i 1; from n to r'. Lr tr 1'?rr ct Frew*Mac Form 70 10/86 Fannie Mae Form 1004 10/86 930661 Value5lon Section UNIF''RM RESIDENTIAL APPRAISA- IEPORT File No. Purpose of Appraisal is to estjn;.tiu Markel Value a:, ..efined in the Certification& Statement of Limiting Conditions. BUILDING SKETCH(SHOW GROSS LIVING AREA ABOVE GRADE) ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: If to Freddie Mac or Fannie Mae.show only srtua,e loot calculations and cost approach comments rri this space. 21 x 65 = 1,365 Dwelling 2,978 sq.Ft.@$ 42.00 - $ 125,076 x 2� _ 638 Su.n. © $ 29 • Extras Appliances - 1,365 25"x`39 = 975 — . 2,978 sq.f t. Special Energy Efficient Items Fireplace — 2,200 aPorches,Patios, etc. Patios 684' = 1,094 Garage/Carport 650 Sq. Ft.@$ 14.00 — 9,100 O Total Estimated Cost New = $ 138,835 r Cost data based on AVERAGE and GOOD Physical Functional External Less F., quality factors from cost manual. Depreciation 8,000 1,500 --- $ 9,500 m V , • . Depreciated Value of Improvements —$ 129,335 - . . . Site Imp. "as is"(driveway,landscaping,etc.) — $ 8,000 ESTIMAI ED SITE VALUE = $ 25,000 (If leasehold,show only leasehold value.) INDICATED VALUE BY COST APPROACH — $ 162,335 (Not Required by Freddie Mac and Fannie Mae) Construction Warranty pi Yes Ix]No Does property conform to applicable HUD/VA property standards? 1 I Yes [ ]No 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 property is suer,to,or more favorable than,the subject property,a minus I-)adjustment is made, thus reducing the indicated value of subject;if a significant item in the comparable is inferior tu, or less favorable than,the subject property,a plus(+1 adjustment is made,thus increasing the indicated value of the subject. ITEM J SUBJECT COMPARABLE NO. 1 COMPARABLE NO. 2 COMPARABLE NO.3 5340-- Address Arrowhead Dr. 4800 Kiowa Drive 5765 Arrowhead Drive 19372 WCR 76 Proximity to Subject III DII1I�IIIfIlifliiiW z Mi a East _--1/2—Mile Northwest 12 Miles Sales Price $ N 1f I �IIIIIIlls 139,000 [[[ [¶LID $__,,T�7 �500 -I ll $ 150�00�0 Price/Gross Liv. Area $ N/A $ 59. 011.111_11 i $ 55.59 w Illlllljj�] E$ 63.45 `E1 ll.iLi. I I I[[ Data Source InspectionAgent/MLS/Pub.Rec. Agent/MLS/Pub.Rec. _ Agent/MLS/Pub.Rec. VAI..UE ADJUSTMENTS DESCRIP T ION DESCRIPTI? . '(-1$Adjustment DESCRIPTION +1-1S Adjustment DESCRIPTION +(-)S Adjustment Sales or Financing ' lli Cony.Loan 80% --_.7% VAConcessions -Seller 1 Pt. —1,100 Assumption —8,000 Cash r._- Date of Sale/Time _0/9/91 5/31/91 _ -11718/90 = 8/29/91 N Location rowh-d.Sub. Arrowhd.Sub. = Arrowhd.Sub. = Eaton } site/View AE/VG 1.25Ac/Avg. ; +?,500 1.79 Ac/Good +3 500 7.88 Ac%VG lO 000 ....,-1 Design and Appeal ltanchT.rick Ranch/BR&FR '' +5,000 RanchTR&FR ; +5,000 Ranch/BR&FR 45,000 Z Quality of Construction Avg.-Good Avg.—Good = Avg,-Good - Avg.-Good = Age 1980 ., -- 1984 — Condition Average e 1983 H .._•, Excellent )'J7�5©©`~Good ) ` �'� Excellent ) 7,500— ,-Above Grade Total n Bdnns i Baths Total r&lrms n Baths Total i tidrrm;r Baths Total 'Nuns, Baths Q Room Count --7 3 1 2 8 n 4 ' 2%22 -1,000 7 : 3 1- 3- -2,500 7 3 3 -1,500 Gross Living Area 2,978 Sq.Ft. G,- -SIB. Sq.Ft.16,000 2,630 Sq.Ft. +8,500 2,364 Sq. Ft. +16,000 p Ba>ement &Finished 1026 Walkout 1546 Walkout v Rooms Below Grade Storage Only 30% -11,000 87% -21,000 None W Functional Utility Fxcdss BR Size Good -1,500 Good _ 1,500 Good -1,500 ...1 4 Heating/Cooling FANG/CA FANG +1,500 - Hot Water -1,000 FA/Propane +2,500 CO Garage/Carport 650sq T•.Gar. 2-Car Gar. = 2-Car Gar. = 2-Car Gar. = Porches,Patio, Patios Patio. Coy. Patio Pools, etc. Courtyard Deck _ _ Deck = Deck = Special Energy iptlit,140aHot Tub Elficient Items i1e s 960 sq.ft. gar lop_ - 720sfGar/Shop +6,_000_ -- 41-2-,QQQ___SarLShop +6,000 Fireplace(s) Masonry 1 Fireplace = , Wood tie _ +1,090 1 Fireplace = Other(e.g. kitchen SW,DSP,Oven/ Full Line,It idh Full Line Full Line equip.,remodeling) to- S rklr. Mower,Sprklr; - 500 Sprinkle= = Sprinkler Net Adj. (total) — 4x + -r$ 13,400 + x - $ 9,000 x + [ -:$ 4'000 Indicated Value of Subject I :1-$ I j I __ i_c.t 152.400 _ I LI ;1$ 163,500 i , $ 159,000 Comments on Sales Comparison: Due to the uniqueness of the subject; a rural large 1-sty with no bsmt. suitable comparables were limited and those used were the best available e -egt_though they required more adjustments than ideal. Comp. #2 was older than 6 months butpcss than 1 year. INDICATED VALUE BY SALES COMPARISON APPROACH r $ 159,000 U INDICATED VALUE BY INCOME APPROACH(If Applicable)Estimated Market Rent $ -- /Mo.x Gross'Ilent Multiplier -- _$ N/A This appraisal is made Ix I"as is"IT subject to the repairs,alterations,inspections or conditions listed bet w Li completion per plans and specifications, Comments and Conditions of Appraisal: _Valid value conclusions were obtained(gwith selected comparables also considered listings of 5407 Arrowhead at $132,5002 33140 WCR 33 at $164,900; and 2631 64 Ave. Firai Reconciliation: Ct. @ $149,500. The Cost Approach is more a test of reasonableness than of actual value. The Sales Comparison Approach best considers a typical b yer's motivations. Th•s appraisal is based upon the above requirements, the certification, contingent and limiting conditions,and Market Value definition that are stated in ri FmlIA,HUD&/or VA instructions. Z [x]Freddie Mac Form 439(Rev. 7/86)/Fannie Mae Form 10048(Rev. 7/86) filed with client _ 19__ [ ] attached. V I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE SUBJECT PROPERTY AS OF Y_ _ October 9 to 91 to be $ 159,000 I(We)certify: that to the best of my (our) knowledge and belief the facts and data used herein are true and correct' I(we)personally inspected the subject property, both inside and out,and have made an exterior inspection oI all comparable sales cited in this tenor t, and that I e)h e no undiscto ' serest,present or prospective therein. ApptAtser(s) SIGNATURE ada 74 cP ,' 9 Zeview Appraiser SIGNATUREilL-- `� CC4")? Dideid NAM Shara M. Brun,' ,� •r Ff if applicable) N;,.ml7 aft ' , , �r Freddie Mac Form 70 10/86 IOCh. Forms and Worms Inc.,"Sty hitney Ave.,New f laven,CT U61, t itOOP)2n;; PAS Property Description&Analysis UNIFORM ^ESIDENTIAL APPRAISAL REP''1RT File No. 'ru,erty Aldress 5340 Arrowhead Dri' Census Tract 14.01 _ LENDER DISCRETIONARY USE City Greeley County Weld State CO Zip Code g0634 Sale Price $ - Legal Description Lot_,3Block 1,,_Arrowhead 2nd Fi ling Date Owner/Occupant Dennis Map Reference Weld Mortgage Amount $ Sale Price$ Date of Sale PROPERTY RIGHTS APPRAISED Mortgage Type Loan charges/concessions to be paid by seller$ x Fee Simple Discount Points and Other Concessions to R.E.Taxes $ 1,95200 Tax Year '90 HOA $/Mo. ri Leasehold Paid by Seller $ Lender/Client First Federal [i Condominium(HUD/VA) [ [De Minimis PUD Source LOCATION r I Urban El Suburban [x )Rural NEIGHBORHOOD ANALYSIS Good Avg. Fair Poor BUILT UP [X7 Over 75% n 25-75% Under 25% Employment Stability ❑ ax a El GROWTH RATE Rapid n Stable , Ti Slow Convenie cola Employment 0 ❑ ID ElPROPERTY VALUES ri Increasing x Stable n Declining Converi6e to Shopping o ❑ a ❑ DEMAND/SUPPLY n Shortage []In Balance Over Supply Convene e to Schools 0 a ❑ a MARKETING TIME n Under 3 Mos. n 3.6 Mos. n Over 6 Mos. Adequacy of Nblic Transportation Finn a G PRESENT LAND USE % LAND USE CHANGE PREDOMINANT SINGLE FAMILY HOUSING Recreation Facilities ' 1 a ❑ ❑ ❑ o Single Family 95 Not Likely ® OCCUPANCY PRICE AGE Adequacy of Utilities X ❑ ❑ ❑ $wool (yrs) Property Compatibility Ir 2-4 Family Likely FT Owner X 1 P Y n n n mMulti-amity In process [ Tenant 80 Low 8 Protection from Detrimental Cond. n n n n Commercial To: Vacant(0.5%) [x] _200 High 14 Police&Fire Protection [] D ❑ ❑ ir, Industrial —� Vacant (over 5%) Predominant General Appearance of Properties r1 n n ] 2 Vacant 5 _ 140 — 10 Appeal to Market n n n n Note:Race or the racial composition of the neighborhood are not considered reliable appraisal factors. COMMENTS: The subject property is located' approx. 2 miles SW of the city of Greeley. Its neighborhood boundaries are the subdivision itself. The gravel access roads to most of the subdivision lessen its otherwise strong appeal,._.but marketing aspects are still good. Dimensions 283' x 331' Averaged Topography Level Site Area 2.15 Acres Corner Lot _ No Size Small acreage Zoning Classification Zoning Compliance YEs Shape Rectangular HIGHEST&BEST USE:Present Use Yes Other Use Drainage Adequate UTILITIES Public Other SITE IMPROVEMENTS Type Public Private View Very Good/Mountains W Electricity a __ Street Gravel x I I Landscaping Lawn/Trees N Gas D Curb/Gutter n 1 Driveway Concrete Water n Sidewalk _ T] Apparent Easements Typical PUE Sanitary Sewer 1-1Septic Street Lights Overhead [ x FEMA Flood Hazard Yes' No x Storm Sewer I [ Alley pi n FEMA' Map/Zone COMMENTS(Apparent adverse easements,encroachments,special assessments,slide areas,etc.): No adverse conditions noted by the appraiser. there is a bridle path easement bordering the south edge of the property. but should not adversely affect the property. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT r INSULATION Units 1 Foundation Concrete Slab 100% Area Sq.Ft. 256-Stor, Roof Elr Stories 1 _ Exterior Walls Brick Crawl Space %Finished —0— Ceiling [xl ti Type(Det./Att.) Det Root Surface Asphalt Basement Partial Ceiling Walls [xi E. Design(Style) Ranch Glitters& Dwnspts. Metal Sump Pump Walls Floor Existing Yes Window Type Wood 2 pn. Dampness Floor Nonecc a Proposed Storm Sash Settlement Outside Entry Adequacy Avg [x[ fUnder Construction Screens _Yes Infestation Energy Efficient Items: Age(Yrs.) 11 Manufactured House No Fireplace Effective Age (Yrs.) Insert ROOMS Foyer Living Dining Kitchen Den Family Rm. Rec.Rm. Bedrooms # Baths Laundry Other Area Sq. Ft. H � Basement __ Level 1 x 1 1 1 _ 1 3 2 x 2,978 _ • Level2 - - • Finished area above grade contains: 7 Rooms; 3 Bedroom(s); 2 Bath(s); 2.978 Square Feet of Gross Living Area SURFACES Materials/Condition HEATING KITCHEN EQUIP. ATTIC • IMPROVEMENT ANALYSIS Good Avg. Fair Poor Floors Carpet/Avg. Type FA Refrigerator None [ Quality of Construction X Lid ❑ ❑ Walls DW/Avg. Fuel NG Range/Oven X Stairs Condition of Improvements ❑ a ❑ ❑ Trim/Finish Pine/Stained Condition Avg Disposal xf Drop Stair F-1 Room Sizes/Layout 0 ❑ 0 - Bath Floor Carpet/Avg. Adequacy Avg Dishwasher ri-1 Scuttle n Closets and Storage ❑ Ix OD Bath Wainscot Ceramic/Avg COOLING Fan/Hood [ x} Floor n Energy Elficiency D El,____., o = Doors Fir/Avg. Central Yes Compactor Ti Heated r� Plumbing-Adequacy & Condition n ❑X _ n Other Washer/Dryer Finished ri Electrical-Adequacy & Condition [ i n I } Condition Microwave [—I n Kitchen Cabinets-Adequacy& Cond. [-7 ❑X [i n Fireplace(s) Masonry # 1 Adequacy Avg,. Intercom [ [ I Compatibility to Neighborhood n n n n CAR STORAGE: Garage [J Attached )x Adequate 1-3-c. House Entry L J Appeal& Marketability 0 DOI H No.Cars 2+ Carport 0 Detached ❑ Inadequate p} Outside Entry [x[ Estimated Remaining Economic Life 60 Yrs. Condition. Avg None n Built-ln Ti Electric Door X,Basement Entry[? Estimated Remaining Physical Life 85 Yrs. Additional features: Large master suite with hot tub, full masonry fireplace with insert. Sprinkler nn well for grounds and detention pond on property. Entire grounds are pole fenced. Large 32' x '72' Garage/Shop heated and insulated, partial drywall and bath rough-in. fA Depreciation(Physical,functional and external inadequacies,repairs needed, modernization,etc.): Physical: Typical deferred maintenance for age. _ Functional: Excessive master suite size for typical buyer who would prefer to urili7e space elsewhere. u General market conditions and prevalence and impact in subject/market area regarding loan discounts,interest buydowns and concessions: The market is active for small acreage properties like the subject and lenders offer a variety of loan possibilities. 9 306671 Freddie Mac Form 70 10/86 10Ch. CS Forms and Worms Inc..'315 Whitney Ave.,New Haven,CT 06511 1(800)243-4545 Item N1 11660 Fannie Mae Form 1004 10/86 Hello