HomeMy WebLinkAbout951593.tiffRESOLUTION
RE: THE BOARD OF EQUALIZATION, 1995, WELD COUNTY, COLORADO
PETITION OF:
SJOBERG DAVID L & PATRICIA ANN
2629 50 AVE
GREELEY, CO 80634
DESCRIPTION OF PROPERTY: PIN: R 2563486 PARCEL: 095915409009 - GR E-360 L3
BLK5 HIGHLAND PARK %2629 50 AV%
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 1995, 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 1995, 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
Improvements OR
Personal Property
TOTAL ACTUAL VALUE
peg`>>Si
$ 22,000 $ 22,000
147.949 135.896
$ 169.949 $ 157,896
951593
AS0032
RE: BOE - SJOBERG DAVID L & PATRICIA ANN
Page 2
WHEREAS, said Stipulation shall resolve all issues to have been determined by the Weld
County Board of Equalization.
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 3rd day of August, A.D., 1995.
BOARD OF COUNTY COMMISSIONERS
ATTEST:
Weld Count Clerk to the Board
`4 '�'r eput`y Clerie'tO:the soar
APPROVED A$14O\ PORM:
y Attorvey
BY.
COUNTY, COLQRADO
Dale K. Hall, Chairman
FXC:I ISFn
Barbara J. Kirkmeyer, Pro-Tem
FxrIJSFn
George E. Baxter
��U19 sC�,.r��✓
Constance L. Harbert
/
W. H. Webster
r
951593
AS0032
RECEIVED
1995
BOARD OF EQUALIZATION
WELD COUNTY, COLORADO
ASSESSOR'S PIN NUMBER 2563486
STIPULATION (As to Tax Year 1445 Actual Value)
RE PETITION OF
NAME: David L & Patricia Ann Sjoberg
ADDRESS: 2629 50 Ave
Greeley Co 80634
JUL 1 4 1995
WELD COUNTY ASSESSOR
Greeley, Colorado
Petitioner(s) David L & Patricia Ann Sjoberg
and the Weld County Assessor, hereby enter into this Stipulation regarding the tax year
1995 valuation of the subject property, and jointly move the Board of Equalization
to enter its order based on this Stipulation.
The Petitioner(s) and the Assessor agree and stipulate as follows:
1. The property subject to this Stipulation is described as
GRE-360 Lot 3 Block 5 Highland Park
2. The subject property is classified as
property (what type).
Residential
3. The County Assessor originally assigned the following actual value on the
subject property for tax year 1995 rlf ®w p Y�-�r,•4 .Aq'8�i=
Land $ 22000 of :lLI, c,c-c,
Improvements $ 147940 rHI) ofg9_____
Total $ 169940 9 i LAlot 'I 7
4. After further review and negotiation, the Petitioner(s) and Weld County
Assessor agree to the following tax year 1995 actual value for the subject property:
Land
Improvements
Total
$ 22000
$ 135896
$ 157896
5. The valuations, as established above, shall be binding only with respect to
tax year 1995
951593
6. Brief narrative as to why the reduction was made
Adjusted to TASP of $157.896. Appraisal 4/29/93 @ $136,000 = TASP
$157896
7. Both parties agree that the hearing scheduled before the Board of
Equalization on (date) at (time) be vacated;
or, a hearing has not yet been scheduled befor the Board of Equalization X (check
if appropriate).
DATED this ` day of
r ) �.
Petitioners) or'Attorney
�,</
-X1995.
Petitioner(s) or Ay.or y
Address: Address:
Telephone:
Telep` one
LLLLLL ounty Asses
1400 N. 17th Avenue
Greeley, CO 80631
(970) 353-3845, Extension 3650
July 10, 1995
CLERK TO THE BOARD
PHONE (303) 356-4000 EXT.4218
FM: (303) 352-0242
915 10TH STREET
P.O. BOX 758
GREELEY, COLORADO 80632
Parcel No.: 095915409009 PIN No.: R 2563486
SJOBERG DAVID L & PATRICIA ANN
2629 50 AVE
GREELEY, CO 80634
Dear Petitioner(s):
The Weld County Board of Equalization has set a date of Thursday, July 27, 1995, at or about the
hour of 10:15 A.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 10, 1995, and
mailed to you on or before August 16, 1995.
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.
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.
SJOBERG DAVID L & PATRICIA ANN - R 2563486
Page 2
Please advise me if you decide not to keep your appointment as scheduled. If you need any
additional information, please call me at your convenience.
Very truly yours,
BOARD OF EQUALIZATION
Donald D. Warden,
Clerk to the Board
BY:
tKimb rlee A. Schuett, Deputy
cc: Warren Lasell, Assessor
COLORADO
NOTICE OF DENIAL.
GR E-360 L3 BLKS HIGHLAND PARK.
';2629 50 AV%
262.9 050
OWNER SJOBERG DAVID L E PATRICIA ANN
SJO£iF:7,; DAVID L E PATRICIA ANN
()FI,lCL OF COUNTY ASSESSOR
1400 NORTH 17th AVE.
GREELEY, COLORADO 80631
PHONE (9701353-3845, EXT. 3656
29 '3.) AVE
� EELEY
CO :30634
'1
OAV AGREELr_-Y
PA RCEL
PI N
YE AR
LOG
075'91f 40900��)
P 256:3430.
1995
00214
0;x/02/1995
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):
2=:SIDENTIAL PROPERTY IS VALUED BY CONSIDERING THE MARKET APPROACH.
A(ii7ICULTURAL LAND VALUE IS DETERMINED SOLELY BY THE EARNING OR PRODUCTIVE
CAnAL IT OF THE LAND, CAPITALIZED AT A RATE SET BY LAW.
ALL i)THER PROPERTY, INCLUDING VACANT LAND, IS VALUED BY CONSIDERING THE COST,
Alq}CL T, AND I NCOME 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:
YOUR P;2OPFr TY HAS SEEN UNIFORMLY VALUED FOLLOWING COLfRADO LAW AND
I NSTPUCTIO►NS PUBLISHED BY THE STATE DIVISION OF PROPERTY TAXATION.
YOUR PROTEST OF VALUE HAS BEEN DENIED DUE TO COMPARISON OF OTHER
IHILAR PROPERT IES WHICH SOLO DURING THE 1993/1994 TIME PERIOD.
THIS COMPARISON SHOWS YOUR ACTUAL PROPERTY VALUE TO SE CORRECT FOR
THAT PE RI OD.
PROPERTY CLASSIFICATION
P
LAND)
I MP
TOTALS $
f you disagree with the Assessor's decision, you have the right to appeal to the County esoara or tqu�
l9 -8-106(1)(a), C.R.S. Please see the back of this form for detailed information on filing your appeal.
3y:
l5-DPT-AR
=arm PR -207-87/94
WARREN L. LASELL
ETITIONER'S
ESTIMATE
OF VALUE
ASSESSOR'S VALUATION
ACTUAL VALUE
PRIOR TO REVIEW
ACTUAL VALUE
AFTER
22,000
147,' 49
REVIEW
22,000
1 47, 949
$ 159, )49$
I.59,
?4)
05/31/95
WELD COUNTY ASSESSOR DATE
ADDITIONAL INFORMATION ON REVERSE SIDE dCi �s
24`i
YOU HAVE THE RIGHT A6SLSSOR'S DECISION
The County Board of E0u3hzation will :it to roar i1;'';at; ;iri :r�it i'l;:' ,34:?tip 1 arid coI :I' : ::'sr rd .) _; ;h Ategu; t .t. for
real property (land and uuildings) and })r;t�:... .. :t ! islr a 'tiaclitoo`ry, a .. ''•' :' .. ~ i-1( r'
33.8-107(2' C.R.S. E1 rit; �g !a ard
APPEAL PROCEDURES:
.,noose to appec.i! ..'E; F+.:�`it= S: i:r :, ': ^:�r7 :ii> ,:tt '
your right to appeal, :. : '.ir appeal 1{:.-..,, i' "s i ..:. r :?, t )� .. ••,�. •'.
"��l)t'•r.: (-t1 Y, ANDJUL
t ..tJt_ 1U FOR f-E:1=i.�t:i•�,•. � �; �, ,. r; r
WELD CUUN FY BOAR;) OF 1.UAt.-IZATION
915 10th S',tieet, I'.O Box 758
tzleeley. u;nll)rado tSO(i:i2
Telopliorte (970)356-1000, Ext 4225
NOTIFICATION OF HEARING:
You will be notified of the time and I:rlat:e «%t r,/Er t:t i•; t iif}(:::?.
COUNTY BOARD OF EQUALIZATION S D. 1•EIRIvtir-4A' ION.
The County Board of Equalization must rnaki.:, a de..isic'n on t;i.. 41 ,..ai and mail you a determinating, .;,,i'i'i:`• five
business days. The County Board inus� e;i)tt:. E:;ri( itsAugust
TAXPAYER RIGHTS FOR FURTHER APPEALS.
f yon are not satisfied with the County Boat. =.1ecisio:1. you must'file wit:''in th::•tV
County Board of Equalization's written decisio, uU :li ONE. :..i `:he following:
Board it` I ) als (BAA):
Contact the BAA at 1 3 'Vs Slit•rm1:, C,•}Iorado 80203, 1303 866-588 ‘.7
District Court:
9th Avenue and 9th Sheet, P.O. Bux C
Greeley, Colorado 80632
Telephone (970) 3.56-4o00,. Ext. 4520
Arbitration:
WELD COON F'! BOAHI) OF• EQUALIZATION
915 10th Streel, P.O. Box 758 •
taIeeicy, ',. ,Ith i'is; tSCtE)::�
7elepin)ne. t:)/ ..rl . .r -1t; )l'•. ` ' ' '25
It you do not receive a determination from the County Fi;..itn t,r P_qut,irzalion, you must file an appeal with the Board of
Assessment Appeals by September 18.
TO PRESERVE YOUR APPEAL RICH IS, YU:s !+Aik-iS t- PROVE YOU HAVE FILED A TIMELY APPEAL;
THEREFORE, WE RECOMMEND ALL CORRE. w 3ۥr<''=:.N,:j_ fa:: MAILED WITH PROOF OF 111
PETITION TO THE COU'J Y ii;::'AH OF EQUALIZATION
In the space below. please ex piait s . i ',S ??' ', b. r; iN ts'=`. :: :'v;
(� C :�;'; '.�. i5i;9�.,�� :,-.r: r itil.i ;r� t ,''t; %^i
39-Y-10611 5 C.R.S.. YOU ;•f I? � E l'? t: %IJf7 i! ?t: i`� r::Wvi: CA:" A
AMOUNT Attach additional t.ii t ;lE.:r: c.:r:.....
t. r::....-)
SIGNATURE OF PETITIONER i
)ATE
APPRAISAL OF REAL PROPERTY
LOCATED AT:
2629 50th Avenue
Lot 3, Block 5, Highland Park Subdivision
Greeley
FOR:
1st Choice Bank
2164 35th Ave, Greeley, CO 80634
AS OF:
Apr 29, 1993
BY:
Bruce W. Willard
Austin & Austin
'TOTAL appraisal software by a la mode. Inc. I (80(1 328-6825
Austin & Austin
qtr &
UNIFORM RESIDE
lit
►'any Address 2629 50th Avenue Census Tract 14.03
LENDER DISCRETIONARY USE
Sale Price $
City Greeley County Weld stew CO BD Code 80634
Le916DeaDon Lot 3, Block 5, Highland Park Subdivision
Date
R
B.
0
T
_
Owner/Occupant David & Patricia Sjoberg Map Rot.
Mortgage Amount $
Sate Price $ Date of Sale Apr 29 1993
PROP RIGHTS APPRAISED
Mortgage Type
Loan dtargesloonceseions paid by seller S
X
Fee Simple
Discount Pointe and Other Conoesslons
Paid by Seller S
R.E. Taxes S 1_1_298.40 Tax Year 1992 HOA SAAo.
taasehold
t. r er tent 1st Choice Bank
❑ Condominium (HUDNA)
2164 35th Ave, Greeley, CO 80634 1 I De Minims PUD
Source
N
LOCATION
BUILT UP
GROWTH RATE
PROPERTY VALUES
DEMAND/SUPPLY
MARKETING TIME InUnder
I X
nOver
(Urban
75%
Rapid
Incr swing
Shortage
3 Moe.
U Suburban I IRO*
25-75% Under 25%
X Stable H Slow
XStable Declining
In Balance Over Supply
TIC Mos. n Over 8 Mos.
NEIGHBORHOOD ANALYSIS
Employment Stability
Convenient* to Employment
Convenience to Shopping
Convenience to Schools
Adequacy of Public Transportation
Good
❑
II
I
Avg.
Far
IN
7
Poor
8
Et
FtMuf
H.
2
ovacant
>:
PRESENT LAND USE %
Single Family 70
2.4 Family 10
i-tamiy
LAND USE CHANGE
Not likely X
Likely I�
In process
PREDOMINANT
OCCUPANCY
[X
SINGLE FAMILY HOUSING
PRICE AGE
S (000) (yrs)
80 Low 0
Recreation FacilitiesX
Adequacy of Utilities
Properly Compatibility
Protection from Detrimental Conditions
X1
X
n
X
R
❑
l
Commercial 5
To:
Vacant (0-5%)
X
300 High 30
Polo S Fire Protection
H
U
n
Industrial
Vacant (over 5%) n
Predominant
General Appearance of Properties
X
15
150 - 10
Appeal to Market
0
❑
H
H
Now: Race or the racial oomposlbon of a neighborhood are not considered reliable appraisal factors.
COMMENTS Highland Park is a far west Greeley subdivision
and a continuation of Highland
Hills,
developed in the 1960's in conjunction with the
Highland public golf course. Highland Park
continues to the west and is in active development
with expensive hones being built on
large
sites. The area is active and in demand.
<.:
3`
k1
Dimensions Approx_ 130' x 140'
Topography Generally level
Site Area 18,200 sq ft Comer Lot
No
Size Typical for
area
zoning Classiflcaton R-1 Zoning Compliance
Yes
Shape Rectangular
HIGHEST & BEST USE: Present Use Yes Other Use
Drainage Appears adequate
UTILITIES Public Other
SITE IMPROVEMENTS Type
Public Private
View Typical interior
EleCbitty X
Street Asphalt
X
Landacapinp Sod and trees
Gas bx I
Curb/Gutter Concrete
❑x
Driveway Concrete
water I X I
Sldewslk None
I
Apparent Easements Typical rear
Sanitary Sewer X
Street lights Pole
xi
FEMA Flood Hazard Yes' No
X
Storm Sewer 5 -el
Allay None
fI n
FEMA' Map/Z«» Greeley: 080184
COMMENTS {Apparent adverse easements, encroachments, special assessments. slide areas, etc.):
NO survey was provided to the
appraiser; inspection of the site and public
records provided all information regarding
easements and possible encroachments, but cannot
be relied upon. A large site but typical
for
P
0
V
MExisting
H
r
GENERAL DESCRIPTION
Unite 1
EXTERIOR DESCRIPTION
Foundation Concrete
FOUNDATION
Slab
BASEMENT
Area Sq. Ft. 1,333
INSULATION
Roof
[
con; Hdn
x
Stories 1
Crawl
Space
% Frnlalwd 95%
Exterior Walls Brick
walla Hdn
x
Type (Det/Att) Det
Ceiling Drywall
Roof Surtax Shake
Basement
Yes
now
Walls Drywall
Design (Stye) Ranch
Gutters & Ownepts. Metal
Sump
Pump NO
Floor Carpet
Non
❑
Yes
Oamprwaa
None obe
Window Type Aluminum
Adequacy
X
Outside Entry NO
Proposed
Settlement
Normal
Storm Sash NO
Energy Efficient
Typical
Items:
Under Construction
Infestation
None obe
Screens Yes
Age (Ws.) 18
Manufactured House No
0
Effect.* Age (Yrs.) 18
0
0
gv91
ROOMS
Foyer
living
Dining
Kitchen
Den
Family
Rm
Roc. Rm.
Bedrooms
a Bathe
Laundry
Other
Ares Sq.
Ft.
Basement
1.
2
.75
1,333
Level 1
x
1
1
1
1
2
2.25
x
2,046
Le2
-
:hi
7
12
ft
1
Finished area abave grade contain: 6 Rooms: 2 Bedroom(s);
2.25 Balh(a); 2, 046 Square Feet of Gross Living
Area
SURFACES Mettle's/Condition
Floors Crpt—tile/Avg
Drywall/Good
HEATING
Type H.W.
Fuel Gas
KITCHEN EQUIP
Refrigerant*
Range/Oven
X
X
ATTIC
None j
Stairs [-^l
IMPROVEMENT ANALYSIS
Quality of Construction
Condition of improvements
Good Avg.
X
i IXI
Fair
Poor
Trim/Finish Stnd wood/Avg
on
Condition Avg
Disposal
X
Drop Star
Room Sizes/Layout
Lii
Bath Fbor V]-I'lyl/AVq
Adequacy Avg
Dishwasher I X�
Satter
X
Closets and Storage
X
❑
Bath -Wainscot Tile/Avg
COOLING
Fan/Hoodi X!
Floor [ I
Energy EficiencyCR
R
Doors Wd hollaw/Avg
Central No
Compactor
Healed
Plumbing - Adequacy & Condition
X
Other
Washer/Dryer (n
Finished
1-1 1
Moarical • Adequacy & Condition
X
❑
Condition
Microwave I
I
Kitchen Cabinets - Adequacy & Condition
x
n
Fireplace(s) None * 0
Adequacy
Intercom
I
{
Compatibility to Neighborhood
X
L l
CAR STORAGE: Garage X
No. Cars 3 Carport
Attached I XI
Detached 1
Adequate
Inadequate
}Ell -louse
Entry
Outside Entry
X!
Appeal & Marketability
Estimated Remaining Economic Use
X
37
❑
Pl
Yrs.
Condition Avg None ❑
_ButM-In
ElsobiC Door fiTI
Basement Entry
Estimated Remaining Physical Lie N/A Vii
Additional features: Big rooms and nice sized closets for a house of this age; all brick
construction; newer carpet in the family roan; nice kitchen family roan combination; covered
patio in the back.
O
Pt :deferred
N
T
Depredation (Physical. functional and external inadequacies, repars needed, modernization. etc.): Living roan carpet dated; sanewhat dated
stain color on trim and cabinets; dated carpet in the bedrooms; dated bath fixtures; typical
maintenance for a house this age, generally a well cared for house.
General market conditions end prewlence and impact in subject/market area regarding loan discounts, Interest buydowne and concessions: The local market
has improved over the past year, with generally increasing prices. Sellers paying discount
points for Buffer's loans is typical. No unusual Seller concessions prevalent in the market.
Interest rates are at a very attractive 7% to 8% presently.
Freddie Mac Form 70 10/86
"TOTAL" appraisal software bye la mods, Inc, 1 (800) 328.6525
Fannie Mae 1904 10/86
Valuation Section
rraavfss. a aa�e V e d s rite rO-
J. Purpose of Appraisal Is to estimate Market Value as defined in the Certification & Statement of Uniting CondMons.
BUILDING SKETCH (SHOW GROSS LIVING AREA ABOVE GRADE)
I/ for Freddie Mac or Fannie Mae, show only square foot calculations and cost approach comment.
ESTIMATED REPRODUCTION COST - NEW - OF IMPROVEMENTS
Dwelling 2,046 sq. Ft. o S 46.04 . $ 94,198
16.83 X 46.33 X 1.00 = 779.73 lily/1
1,333 sq.F.ds 21.79 29,046
12.67 X 6.00 X 1.00 = 76.02 LIV/1
' '
Ex"a, Plumbing fixtures,
31.75 X 8.50 X 1.00' = 269.88 LIV/1
appliances 10,825
39.58 X 16.5 • 9 X 1.00 = 656.63 LIV/1
special Energy Efficient Items
0
6.83 X 4.00 X 1.00 L.27.32 LIV/1
Pordnes, Palos, etq. Porch, , patio 8,359
S
T
14.92 X 15.83 X 1.00 = 236.18 LIV/1
Garage/carport 834 sq. Ft. e s 14.53 . 12,118
32.50 X 25.67 X 1.00 = 834.28 GAR
Total Eatima ed Due New $ 154, 546
A
P
R
14.92 X 15.83 X 1.00 = 236.18 BSM
6.83 X 4.00. X 1.00' = 27.32 ESM ' '
.39.58 X 16.59 X 1.00 = 656.63 BSM
Physical
Lees
D, predation 50,583
Functional
External
$ 50,583
A
31.75 X 13.00 X 1.00 = _ 412.75 BSM _
Depredated valoe of Improvement $ 103,963
C�
GR
MOSS LIVING AREA (rounded) = . 2, 046 SF
Site imp. "as le" (driveway, landscaping, etc.) . $ 10,000
N
All sale dates are closed dates. If two dates are
-
ESTIMATED SITE VALUE . $ 25,000
included, contract dates will be noted.
Cost information: Residential Cost Handbook
(If leasehold, snow only leasehold value.)
INDICATED VALUE BY COST APPROACH - $ 138,963
e,
EI-
(Not Required by Freddie Mac end Fannie Mae)
Does properly conform to apptiable HUDNA property standards? Yes
No
Construction Warranty L Yes I No
Name o/ Warranty Program
4s
If No, explain:
Warranty Coverage Expires
The undersigned has recited three recent sales of properties most similar and proximate to the subject and has considered these kit the market analysts. The description Includes a dollar a jusbnent,
remarket reaction to those �)Items of significant variation � bbettween the sub' and comparable properties. II a significant item In the comparable properly t superior o, or more favorable than,
'Plitt stir:48=4 propeerl a m E s doe inaeasing sir Ide thuteds value of IP: eub�he to value of subject; if a-sigraicant item in the comparable t inferior to. or less Ifavorable than, the subject property, a
ITEM L SUBJECT
COMPARABLE NO.1
COMPARABLE NO. 2
COMPARABLE NO. 3
2629 50th Avenue
Address Greeley
2312 51st Ave
Greeley
1611 37th Ave
Greeley
1717 21st Ave
Greeley
Proximity to Subject
�4
blocks NW
1 mile NE
2 miles NE
1
Sales Price
a%JJ 135, 000
128,000
I 123,000
:
Prlce/Gross Living Area
m
83.75 m
64.03
64.06
Data Source
Insp/Pub rec
MLS/Agent
MIS/Agent
MIS/Agent
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION + (-) $ Adjustment
DESCRIPTION r (-) $ Adjustment
DESCRIPTION ♦ (-) $ Adjustment
S
Sales or Financing
Concessions
%
%/�,%%%.
New cony
No_points
New cony
No points
New cony
No points
''t
DateofSaleMme
Apr 29 1993
Jan 1993
+2,700
Jan 1993
+2,500
Jan 1993
+2,500
E
Location
Highland/Avg
Highland/Sup
-2,000
Rangevw/Sup
-5,000
MC/Inf
+2,000
sdeN»w
Avg/Avg
Avg/Sup
-2,000
Inf/Avg
+2,000
Avg/Avg
d
Design and Appeal
Ranch
Ranch
Ranch
sally o, Construction
Average
Average
erage
::nch
Superior
—2,000
p
Age
18 _�
4
2,000
18
A
Condition
Average
Superior
—10,000
Superior
—3,000
Similar
B
)
Above Grade
Total
Bdrms
Baths
Total
BMna
Baths
Total
Bouls : Bs dt
Total
Bdrms
Baths
S
Room Count
6
2
2.25
6
3
1.75
+2,000
6
3 1.75
+2,000
6
3
1.5
+3,000
N
GroasLMngArea
2,046 sq.Ft.
1,612 s' n.
+8,680
1,999 sq.n.
+940
1,920 sq.Ft.
+2,520
•-,-
.1Basement
N
a Finished
Rooms Below Grade
1,333
95%
1612
80%
1244
0%
+8,000
613
90%/W bath
+3,000
A
Functional Ubly
Average
Average
Average
Average
YHeatinglcooling
Gas H.W.
(as F.A./AC
-2,000
(ac F.A./AC
-2,000
Gas H.W.
S
Garage/Carport
3
2
+5, 000
2
+5,000
2
+5, 000
SPorches,
<:
Patio.
how,, etc.
Porch, cvd
patio
Cvd patio
Enclsd patio
Cvd patio
'
!(;
Special Energy
Efficient Items
Typical
Typical
Typical
Typical
'.:.'.:
Fireplace(s)
0
0
1
—1,000
1
—1,000
)1
Other (e.g. kitchen
equip.. remodeling)
Typical
Typical
Typical
Typical
Net Adj. (foten��/��//
II $ 9,440%
+Os
IX +/ 15,020
Indicated Value
of subject137,440Comment
$ 135, 380
%�
�%��/f$
138,020
All
on Sales Comparison sa es wereo arge ranch sty es on larger ots . A time
adjustment of .5% per month was used, conservative based on recent MIS sales data. Emphasis
was on older, lamer hones like subject. #1 was the most recent sale in Highland, but it was
INDICATED VALUE BY SALES COMPARISON APPROACH $ 136, 000
INDICATED VALUE BY INCOME APPROACH (I/ Applicable) Estimated Market Rent $ N/A No. x Gross Rent Multiplier . $ N/A
::
This appraisal Is made
Comments and Conditions:
X
"es Is" ri subject to the repairs, alterations, inspections or conditions listed below
The inane approach was not considered a valid
c
completion per plans and specifications
approach to estimating
value. This appraisal was made "as is."
1E
Final Reconciliation: The sales comparison approach is considered to most resemble a typical buyer's
Id
thinking and is therefore given the most weight. The cost approach adds additional support to
N
the final value given.
C_-,
L
I
This
appraisal is based upon the above requirements, the certification, contingent and limiting conditions, and Market Value definition that are stated in
FmHA, HUD, s,/or VA Inabuctions.
Freddie Mac Form 439 (Rev 7/88)/Fannie Mae Form 1004B (Rev 7/88) filed with client 19 7 attached
T
I (WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE SUBJECT PROPERTY AS OF Apr 29 19 93 b be $ 136,000
(:
d.
N
iii
I (We) certify: that to the best of my (our) knowledge and belief the facts and data used herein are true and correct; that I (we) personally inspected the subject properly, both
have made an exterior inspection of al comparable sales cited In this report; and that I (we) have no undisclosed Interest, present or prospective therein.
APPRAISER(S) Co:42rado Certified t r pra praiser #0001315403
Signature Cii'- 1A-/�,(��„ t REVIEW Signature
£ \-/L—;
VL /
inside
and out,
Did
and
Did Not
l!I:
APPRAISER
Name Bruce W. Willard (If applicable) Name Inspect Property
Freddie Mac Form 70 10/98
Fannie Mae 1004 10/88
Site
Highland Park. Sprinkler system for the yard and the back is fenced. The area
has above ground utilities in the older section. Subject has a 10' rear
utility easement.
Comments on Comparables
of a newer, smaller have on a superior street and across from the golf course
lake. Since it was newer, it was also in superior condition to subject. It
larger basement but smaller percentage finished was deemed similar. #2 was of
a similar sized house in a superior location. The site was inferior to
subject's site however, and the kitchen had been more £ecently remodelled. #3
was a similar house, built the same time but a somewhat higher quality; with 6
panel doors and marble surround on the fireplace. It was in a nice
neighborhood, but on a busier and less appealing street. Because of the
smaller adjustments, and same neighborhood, weight was given to sale #1.
Borrower/Client David &- Patricia Sjoberg
Property Address 2629 50th Avenue
City Greeley __ County Weh
Lender 1St Choice Bank
Borrower/Client David & Patricia Sjoberg
Properly Address 2629 50th Avenue
City Greeley County Weli
Lender 1st Choice Bank
MAP SKETCH ADDENDUM
394"
Borrower/Client David & Patricia Sjoberg
Property Address 2629 50th Avenue
City ateley county Weld
state CO
mecca,' 80634
Lender 1st Choice Bank
BUILDING SKETCH
I
•
6
} t :Way _
PATnd.
M t
29
innir
ft.
BS*
514" •
25,
GARB(
3A -r
•
T..l _II
X14
BATIT
Thum _
34
LOCATION MAP [*SUBJECT PROPERTY]
'TOTAL" appraisal software by a la mode, 4w., 1 (800) 328-8825
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 selleraretypically motivated; (2) both
partiesarewell 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; andt(5) the price represents the normal consideration for the property -sold unaffected by
special or creative financing or sales -concessions' granted byanyoneassociatedwith 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 the 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 bemade to the comparable property by comparisons tofinancing terms offered by a third party institutional lender that
is not already involved in the property or transaction. My adjustment should not be calculated on a mechanical dollar for
dollar cost of the financing or concession but the dollar amount ofanyadjustment should approximate the markers reaction
to the financing or concessions based on the appraisers judgement.
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 properly.
2. The Appraiser has no personal Interest in or bias with respect to the subject matter of the appraisal report or the.partici-
pants 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 knowledgeandbelief, 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 under-
signed 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 Appraiser? No change of any item in
the appraisal report shall be made by anyone othertan the Appraiser, and the Appraiser shall have no responsibility forany
such unauthorized change.
CONTINGENT AND LIMITING CONDITIONS: The certification of the Appraiser appearing in theappraisalreport is subject
to the following conditions and tosuchother specific -and limiting conditions asareset 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 there-
to, 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 visualizing the prop-
erty. 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 -therefor.
4. My 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.
-5. Information, estimates, and opinions fumished 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 governed 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 properly 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, or 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 tote 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.
ENVIRONMENTAL. DISCLAIMER: The value estimated in this report is based on the assumption that the property is not
negatively affected by the existence of hazardous substances or detrimental environmental conditions. 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. It is possible that tests and
Inspections made by a qualified hazardous substance and environmental expert would reveal the existence of hazardousmaterials
and environmental conditions on or around the property that would negatively affect its value.
Date'
ADDITIONAL CERTIFICATION: The appraiser further certifies that:
1. This appraisal conforms to the Uniform Standards or Professional Appraisal Practice ('USPAP') adopted by the Appraisal
Standards Board of the Appraisal Foundation, except that the Departure Provision of the USPAP does not apply.
2. Their compensation Is not contingent upon the reporting of a 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 a requested minimum valuation, a specific valuation, or the approval of a loan.
Apr 29z 1993
A ralser(s l-! .. �� �. i ... -
lard
-" ✓�
Bruce W. Wi 1l1
Fred*. Mao
Form 439 JUL 86
Colorado Certified General Appraiser #CG01315403 F9mb Mae
TOTAL" apprabal software by a 4 node, i o. 1 (800) 3284825 Fenn 1004B JUL 80
MULTI -PURPOSE SUPPLEMENTAL ADDENDUM
FOR FEDERALLY RELATED TRANSACTIONS
Borrower/Client David & Patricia Sjoberg
Property Address 2629 50th Avenue
city Greeley county
Weld
state
CO
Zip Code 80634
Lender 1st Choice Bank
This Multi -Purpose Supplemental Addendum for Federally Related Transactions was designed to provide the appraiser with a convenient way to
comply with the current appraisal -standards and requirements of the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of
Currency (OCC), 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 bytheappraiser apply to the property being appraised.
EPPRPOSt WIFUNCTI0LOPAPPRAIE •
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 properly for lending purposes. This is a federally related transaction.
x
X
X
ix
TOF
RAI AVIPROCE
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 comparablesaleswithin the subject market area. The original source of the comparables is
shown in the Data Sourcesectionof 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.
The reproduction cost is based on: Marshall -& Swift Cost Handbook
supplemented by the appraiser's knowledge of the local market.
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.
The subject property is located in an area of primarily owner -occupied, single-family residences, and the Income Approach is not
considered to be meaningful. For this reason, the Income Approachwas 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 rate for residential properties.
For income producing properties, actual rents, vacancies, and expenses have been reported and analyzed. They have been used to
project future rents, vacancies and expenses.
'U.BJECT PROPERTY OFF LING INFORMATION
mgimmisiminismakinismimeasnammomi
According to Greeley Board of REALr1LWRS MIS Information
X
X
the subject property:
hasnotbeen offered for sale in the past 30 days.
is currently offered for sale for $
was offered for sale within the past 30 days for $
Offering information was considered in.the final reconciliation of value.
Offering information was not considered in the final reconciliation of value.
Offering information was not available. The reasons for unavailability and the steps taken by the appraiser are explained later in
this addendum.
SALES HISTORY O U r9TiiRROPI •
According to Weld County Assessor and MIS Records
X
X
xJ
the subject property:
has not beendransferred in the past twelve months.
has transferred in the past twelve months.
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
06-19-92 131,500
Sjoberg
Subject property Is not located in a FEMA Special Flood Hazard Area.
Subject property is located in a FEMA Special Flood Hazard Area.
Zone
FEMA Map/Panel N
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.
It is covered by a regular program.
it is covered by an emergency program.
TOTAL' appraisal software by a I. mods, Inc. (800) 326$825
CURRENT SALES CONTRACT
1
x
X
The 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.
The contract and/or escrow instructions were reviewed. The following summarizes the contract:
Contract Date Amendment Date Contract Price Seller
The contract indicated that personal property was not Included in the sale.
The contract indicated that personal property was Included. It consisted of:
Personal property was not included in the final value estimate.
Personal property was included in the final value estimate.
Thecontractindicated no financing concessions or other incentives.
The contract indicated the following concessions or incentives:
Estimated contributory value is $
If 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 incompliance with the Market Value defined herein.
.OVERVIEW Include an exPlanetken.
3 months is considered. a reasonable marketing period for the subject properly based on
Greeley Board of REALTORS MIS
MORAL CERTIFICATIO
Data from the
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 Provisionofthe 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 a requested minimum valuation, a specific valuation, or the approval of a loan.
ITIONAI».
IRONI: E
M
err
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 appraisers 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.
PRAISER'S SIGNATURE
Appraisers Signature__ L� �,✓!-
Appraisers Name (print) Bruce W. Willard
State CO License { x1 Certification ♦ (X01315403
COaSICi..
NING APPRAISER'S CERTIFICATION
ICATIO
Effective Date 04-29-93 Date Prepared 05-03-93
Phone #( 303 ) 353-0790
Tax ID a 84-0523887
The 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 conditions, and
confirms that the certifications apply fully to the co-signing appraiser.
The co-signing appraiser has mit personally inspected the interior of the subject property and:
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.
The report was prepared under the direct supervision of the co-signing appraiser. The co-signing appraiser accepts responsibility for the
contents of the report, including the value concessions and 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 the level of inspection performed by the
co-signing appraiser.
The co-signing appraisers level of --inspection, involvement in the appraisal process and certification are covered elsewhere in the addenda
section of this appraisal.
........................
CO SIGNINQ i0.PP�#Al
gnn.:.:.::...:.::.::.;:...:..:....,.,:<.,..,..<...:...,:.:;:::.<,,
Co-Signirmg
Appraisers Signature -Effective Date 04-29-93 Date Prepared 05-03-93
Co -Signing Appraisers Name (print)
State License
I I
Certification M
YCEFTlFf',
Phone #(
Tax ID i
TOTAL" appraisal soaware by a is mode, No. i90a) 3294625
Austin & Austin
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