HomeMy WebLinkAbout20152339.tiff 1861/ CLERK TO THE BOARD
PHONE (970) 336-7215, EXT 4226
FAX (970) 352-0242
TEED„; WEBSITE: www.co.weld.co.us
T 1150 O STREET
P.O. BOX 758
it G � U N T Y z GREELEY CO 80632
September 1, 2015
ALLEN MICHAEL D
1101 SAN MIGUEL DR
SEVERANCE, CO 80550-2722
RE: THE BOARD OF EQUALIZATION 2015, WELD COUNTY COLORADO
APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR
ACCOUNT NO.: R7574699
Dear Petitioner:
On July 30, 2015, the Board of County Commissioners of Weld County Colorado
convened and acting as the Board of Equalization, pursuant to C.R.S. Section 39-8-101 et seq.,
considered your request to approve and adopt a valuation of your property arrived at by a
Stipulation between you and the Weld County Assessor, for the year 2015.
The Board of Equalization found that the evidence presented at the hearing supported the
stipulated value placed upon the above-described property as set forth below. Such evidence
indicated the value was reasonable, equitable, and derived according to the methodologies,
percentages, figures and formulas dictated by law.
ACTUAL VALUE AS STIPULATED VALUE
DETERMINED BY ASSESSOR APPROVED BY BOARD
$379,342.00 $370,000.00
The above `Stipulated Value' is the value which will be used in the calculation of your property
taxes for 2015. This value is not appealable.
If you have questions concerning the above information, please call me at (970) 336-7215,
Ext. 4226.
Very truly yours,
( ,` __ fic,,f/
Esther E. Gesick, Clerk to the Board
Weld County Board of County Commissioners
Cc: Christopher Woodruff, Weld County Assessor
2015-2339
AS0091
COUNTY BOARD OF EQUALIZATION
WELD COUNTY
Single County Schedule Number R7574699
STIPULATION (As To Tax Year_2015_Actual Value)
RE PETITION OF : RECEIVED
NAME: MICHAEL D. ALLEN/ELIZABETH A. OLIVAS RECEIVED
1
ADDRESS: 1101 SAN MIGUEL DR. JUL 2 4 2015
SEVERANCE, CO 80550
WELD COUNTY
eaMmrssroNERS
Petitioner(s) and the Weld County Assessor hereby enter into this Stipulation
regarding the tax year 2015 valuation of the subject property, and jointly move the Board
of Equalization to enter its order based on this Stipulation.
Petitioner(s) and Assessor agree and stipulate as follows:
1. The property subject to this Stipulation is described as:
BL 3 LOT 16 CASA LOMA SUB
2. The subject property is classified as Residential property.
3. The County Assessor originally assigned the following actual value to the
subject property for the tax year 2015:
Total $379,342.00
4. After further review and negotiation, Petitioner(s) and Weld County Assessor
agree to the following tax year 2015 actual value for the subject property:
Total $370,000.00
5. The valuation, as established above, shall be binding only with respect to tax
year 2015.
6. Brief narrative as to why the reduction was made:
Reduced to a review of sales comparisons
7. Both parties agree that:
®A hearing has not yet been scheduled before the Board of Equalization.
2015-2339
R7574699
5 699 A-S Ob t l
1
DAT , this 21st day of July, 2015.
Peti Toners or Agent or Attor a Assis ant C un ty Attorney for
Respondent, Weld County Board of
Commissioners
Address: Address:
j/ b / ‘. 4-1\/ �/ �ot� L 4 zm K-1150 "O" Street
) )so C v P.O. Box 758
g(j o Greeley, CO 80632
Telephone: cT' fU - 0 e-+53-6 Telephone:(970) 336-7235
0- fq ►_
County Assessor— (' i.,j -k,'(
l
Address:
1400 N.17th Avenue
Greeley, CO 80631
Telephone: (970) 353-3845 ext. 3697
Docket Number
Stip-1.Frm
R7574699
2
NOTICE OF DETERMINATION
RECEIVED
Christopher M. Woodruff Date of Notice: 6/30/2015
Weld County Assessor JUL 1 5 2015 Telephone: (970) 353-3845
1400 N 17th Ave Fax: (970) 304-6433
Greeley, CO 80631 WELD COM DS O NERSUTY Office Hours: 8:00AM- 5:00PM
ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/PHYSICAL LOCATION
R7574699 2015 0434 SEV CL L16 BLK3 CASA LOMA
w ALLEN MICHAEL D 1101 SAN MIGUEL DR
1101 SAN MIGUEL DR
SEVERANCE,CO
oSEVERANCE,CO 80550-2722
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ASSESSOR'S VALUATION
PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER
REVIEW REVIEW
RESIDENTIAL 379,342 379,342
TOTAL $379,342 $379,342
The Assessor has carefully studied all available information, giving particular attention to the
specifics included on your protest. The Assessor's determination of value after review is based on
the following:
AL01 - Your property has been uniformly valued following Colorado law. Your protest of value has
been denied due to comparison of other similar properties which sold during the 2013/2014 time
period.
If you disagree with the Assessor's decision, you have the right to appeal to the County
Board of Equalization for further consideration, § 39-8-106(1)(a), C.R.S.
The deadline for filing real property appeals is July 15.
The Assessor establishes property values. The local taxing authorities (county, school district, city,
fire protection, and other special districts) set mill levies. The mill levy requested by each taxing
authority is based on a projected budget and the property tax revenue required to adequately fund
the services it provides to its taxpayers. The local taxing authorities hold budget hearings in the fall.
If you are concerned about mill levies, we recommend that you attend these budget hearings.
Please refer to last year's tax bill or ask your Assessor for a listing of the local taxing authorities.
Please refer to the reverse side of this notice for additional information.
Agent (If Applicable):
l 7/15 6000-0160
sC11
APPEAL PROCEDURES
County Board of Equalization Hearings will be held from
July 29 through August 5 at 1150 O Street.
To appeal the Assessor's decision, complete the Petition to the County Board of Equalization shown
below, and mail or deliver a copy of both sides of this form to:
Weld County Board of Equalization
1150 0 Street, P.O. Box 758
Greeley, CO 80631
Telephone: (970) 356-4000 ext, 4225
To preserve your appeal rights, your Petition to the County Board of Equalization must be
postmarked or delivered on or before July 15 for real property — after such date, your right to
appeal is lost. You may be required to prove that you filed a timely appeal; therefore, we
recommend that all correspondence be mailed with proof of mailing.
You will be notified of the date and time scheduled for your hearing. The County Board of
Equalization must mail a written decision to you within five business days following the date of the
decision. The County Board of Equalization must conclude hearings and render decisions by August
5, § 39-8-107(2), C.R.S. If you do not receive a decision from the County Board of Equalization and
you wish to continue your appeal, you must file an appeal with the Board of Assessment Appeals by
September 10, § 39-2-125(1)(e), C.R.S.
If you are dissatisfied with the County Board of Equalization's decision and you wish to continue your
appeal, you must appeal within 30 days of the date of the County Board's written decision to ONE of
the following:
Board of Assessment Appeals District Court
1313 Sherman Street, Room 315 Contact the District Court in the County
Denver, CO 80203 where the property is located. See your
(303) 866-5880 local telephone book for the address and
www.dola.colorado.aov/baa telephone number.
Binding Arbitration
For a list of arbitrators, contact the County Commissioners at the address listed for the County Board
of Equalization.
If the date for filing any report, schedule, claim, tax return, statement, remittance, or other document
falls upon a Saturday, Sunday, or legal holiday, it shall be deemed to have been timely filed if filed
on the next business day, § 39-1-120(3), C.R.S.
PETITION TO COUNTY BOARD OF EQUALIZATION
What is your estimate of the property's value as of June 30, 2014? (Your opinion of value in terms of a
specific dollar amount is required for real property pursuant to § 39-8-106(1.5), C.R.S.)
What is the basis for your estimate of value or your reason for requesting a review? (Please attach
additional sheets as necessary and any supporting documentation, i.e., comparable sales, rent roll, original
installed cost, appraisal, etc.)
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ATTESTATION
I, the undersi ned owner or agent' of the property identified above, affirm that the statements contained herein
and on an att� ts h-reto are true and complete.
Signature Telephone Number C46 Date
Mct4Lle-ri 40k`- 6 0-04441L- P-c
Email Address
' Attach letter of authorization signed by property owner.
15-DPT-AR
PR 207-08
R7574699 842 66 ��N
L rO,IL A P- --Ft 3-a(1-/52
July 13, 2015
To whom it may concern,
I wish to appeal your equalization decision based on the comparison of other similar properties.Your
comparison without an actual appraisal by a certified company is not right. I would like to see the
houses and values that were used in this judgement. It seems that the houses used to compare our
value have more bedrooms,baths and square footage. Do these homes have finished basements? Mine
does not!
Our home is not similar to any of the homes during the time period you specified.Again,our basement
is not finished. Our home is a small ranch, 16,000 square feet of living space.We have two bedrooms,
one master and one small room,two baths which consist of one master and one small bathroom off the
hallway.
Our house was refinanced on May 29, 2015 based on a certified appraisal that was done by Russ Well
Inc.for$366K. He can be reached at 970-495-0508. If our home would have been appraised at the value
you are saying it is,then we could've taken out more cash to pay off some bills.That was not an option
with our VA loan based on the appraisal.
This appraisal included three other houses that were similar but still had finished basements,more
bedrooms,etc. and I'd like to know what houses you used to base the increase on taxes. I believe that is
why we have appraisals done instead of just guessing what the value of a home is without actually
seeing the property.
A$53,000.00 raise in house taxes is very unreasonable. I would like you to reconsider the tax value of
our home and come up with a more realistic value. It certainly can't be over$366,000.00 since nothing
has changed!
See attached copy of our latest refinance with Vertex Financial Inc., phone 720-246-2217.
Sincerely,
Michael D.Allen
Elizabeth A. Olivas
Russell C.Wells,SRA
FROM: INVOICE
Russ Wells
Russell C.Wells,Inc. INVOICE NUMBER
2738 Bradford Square V130447
Fort Collins,Co 80526 DATE
04/03/2013
Telephone Number:970 495-0508 Fax Number: 970 482-4240
REFERENCE
TO: Internal Order#: V130447
LEAH DORZWEILER Lender Case#:
VERTEX FINANCIAL GROUP INC Client File#:
640 PLAZA DRIVE
Main File#on form: V130447
120
HIGHLANDS RANCH,CO 80219 Other File#onform: IND 39-39-6-1005984
Telephone Number:720 246 2217 Fax Number: Federal Tax ID: 84-1117860
Alternate Number: E-Mail: Employer ID: 84-1117860
DESCRIPTION
Lender: VERTEX FINANCIAL GROUP INC Client: VERTEX FINANCIAL GROUP INC
Purchaser/Borrower: MICHAEL ALLEN
Property Address: 1101 San Miguel Dr
City: Severance
County: WELD State: CO Zip: 80550
Legal Description: LOT 16,BLOCK 3,CASA LOMA
FEES AMOUNT
FEE FOR VA APPRAISAL 400.00
SUBTOTAL 400.00
PAYMENTS AMOUNT
Check#: Date: Description:
Check#: Date: Description:
Check#: Date: Description:
SUBTOTAL
TOTAL DUE $ 400.00
.... ........... .. ... .v lc)" i wt LV IL. II.L. I OAF.,, G,44J
w• Neighborhood Name CASA LOMA Map Reference 10-23 Census Tract 0022.08
vOccupant ® Owner ❑Tenant ❑Vacant Special Assessments$ 0 ® PUD HOA$ 200 ® per year ❑per month
g Property Rights Appraised EA Fee Simple ❑ Leasehold ❑ Other(describe)
C') Assignment Type ❑ Purchase Transaction EA Refinance Transaction 0 Other(describe)
Lender/Client VERTEX FINANCIAL GROUP INC Address 640 PL
AZA DRIVE, 120,HIGHLANDS RANCH,CO 80219
Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? ❑Yes ® No
Report data source(s)used,offering price(s),and date(s). MLS
—I ❑ did ❑ did not analyze the contract for sale for the subject purchase transaction.Explain the results of the analysis of the contract for sale or why analysis anal sis was not
performed.
ccContract Price$ Date of Contract Is the property seller the owner of public record? ❑Yes ❑No Data Source(s)
Z- Is there any financial assistance(loan charges,sale concessions,gift or downpayment assistance,etc.)to be paid by any party on behalf of the borrower? ❑ Yes ❑ No
o If Yes,report the total dollar amount and describe the items to be paid.
Note:Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use%
Location L_] Urban ❑ Suburban ❑ Rural Property Values ❑ Increasing ® Stable ❑ Declining PRICE AGE One-Unit 100%
o Built-Up ❑ Over 75% Li 25-75% ❑ Under 25% Demand/Supply ❑ Shortage ® In Balance ❑ Over Supply $(000) (yrs) 2-4 Unit %
o Growth ❑ Rapid 4. Stable ❑ Slow Marketing Time ❑ Under 3 mths ® 3-6 mths ElOver 6 mths 347 Low 8 Multi-Family %
i Neighborhood Boundaries THE SUBJECT SUBDIVISION,CO RD 23 ON THE WEST,SAN MIGUEL 400 High 16 Commercial %
m SOUTH,CORTEZ NORTH,SUBDIVISION BOUNDARIES EAST. 368 Pred. 12 Other %
5 Neighborhood Description THE SUBJECT IS IN AN ESTABLISHED AREA OF MID TO UPPER PRICED HOMES ON CITY LOTS LOCATED IN
z SEVERANCE. PARKS,SCHOOLS AND SHOPPING ARE NEARBY AND THERE ARE NO MAJOR APPARENT ADVERSE AREA FACTORS.
THE AREA HAS FORMAL DEVELOPMENT.THE APPEAL IS A CONVENIENT LOCATION,COUNTRY LIVING AND LARGE LOTS.SEE ATTD.
Market Conditions(including support for the above conclusions) I HAVE CONSIDERED RELEVANT COMPETITIVE LISTINGS AND/OR CONTRACT
OFFERINGS IN THE PERFORMANCE OF THIS APPRAISAL AND IN THE TRENDING INFORMATION REPORTED IN THIS SECTION. IF A
_TREND IS INDICATED,I HAVE ATTACHED AN ADDENDUM PROVIDING RELEVANT COMPETITIVE LISTING/CONTRACT OFFERING DATA.
Dimensions 167 X 245 X 276 X 277+- Area 1.29 ac Shape IRREGULAR View B;Mtn;
Specific Zoning Classification R-1 Zoning Description RESIDENTIAL
Zoning Compliance N Legal ❑ Legal Nonconforming(Grandfathered Use) ❑ No Zoning ❑ Illegal(describe)
Is the highest and best use of subject property as improved(or as proposed per plans and specifications)the present use? ®Yes ❑ No If No,describe
Utilities Public Other(describe) Public Other(describe) Off—site Improvements—Type Public Private
Electricity ® ❑ Water ® ❑ Street ASPHALT PAVING ® ❑
y Gas ® ❑ Sanitary Sewer ❑ ® INDIVIDUAL SEPTIC Alley NONE Li ❑
FEMA Special Flood Hazard Area ❑Yes ❑ No FEMA Flood Zone N/A FEMA Map# NOT AVAILABLE FEMA Map Date 01/01/1001
Are the utilities and off-site improvements typical for the market area? Li Yes ❑No If No,describe
Are there any adverse site conditions or external factors(easements,encroachments,environmental conditions,land uses,etc.)? ❑Yes ® No If Yes,describe
THERE ARE NO APPARENT ADVERSE EASEMENTS OF ENCROACHMENTS. THERE IS A DETENTION POND TO THE NORTH,
RESIDENTIAL EAST,STREET SOUTH,COUNTY ROAD WEST. THE LANDSCAPING IS TYPICAL WITH A REAR YARD FENCE. THERE IS A
_ DAIRY ADJACENT TO THE SUBDIVISION ON THE NORTH WITH AGRICULTURAL ODORS,TYPICAL FOR WELD COUNTY.
General Description Foundation Exterior Description materials/condition Interior materials/condition
Units ® One ❑ One with Accessory Unit ❑ Concrete Slab ❑ Crawl Space Foundation Walls CONCRETE/A Floors CRP,TILE,WD/A
#of Stories 1 ® Full Basement ❑ Partial Basement Exterior Walls BV/SIDING/A Walls DRYWALUA
Type ® Det. ❑Att. Li S-Det./End Unit Basement Area 1,607 sq.ft.Roof Surface COMPOSIT/A Trim/Finish PAINTED/A
® Existing ❑ Proposed ❑ Under Const.Basement Finish 0 % Gutters&Downspouts METAUA Bath Floor TILE/A
Design(Style) RANCH ❑ Outside Entry/Exit ❑Sump Pump Window Type VINYL SLIDER/A Bath Wainscot TILE/A
Year Built 2001 Evidence of ❑ Infestation NONE AP• Storm Sash/Insulated INSULATE 2P/A Car Storage ❑ None
Effective Age(Yrs) 5 ❑ Dampness ❑ Settlement Screens METAUA ® Driveway #of Cars 5
Attic • None Heating ® FWA ❑ HWBB ■ Radiant Amenities ■Woodstove s # 0 Drivewa Surface GRAV CONCRE
■ Drop Stair ■ Stairs 0 Other Fuel NAT GAS ® Fireplace(s)# 2 ® Fence VARIES ►4 Garage #of Cars 32
FloorI' Cooling Central Air Conditionin
g ►4 Patio/Deck PATIO ■ Porch NONE Ca gort #of 1
ww J Finished ❑ Heated Li Individual ❑ Other ❑ Pool NONE ® Other ENCL PA ® Att. ® Del. ❑ Built-in
w Appliances❑ Refrigerator ® Range/Oven Li Dishwasher El Disposal ® Microwave ❑ Washer/Dryer ❑ Other(describe)
w Finished area above grade contains: 5 Rooms 2 Bedrooms 2.0 Bath(s) 1,663 Square Feet of Gross Living Area Above Grade
o Additional features(special energy efficient items,etc.). TILE FLOORING AT ENTRY,WOOD IN LIVING ROOM,TILE IN KITCHEN AND DINING,
a VAULTED CEILINGS, RAISED PANEL OAK CABINETS,GRANITE COUNTERS, LAUNDRY SINK,5 PIECE MASTER BATH,CEILING FANS.
Describe the condition of the property(including needed repairs,deterioration,renovations,remodeling,etc.). C3;No updates in the prior 15 years;THE SUBJECT
IS IN GOOD CONDITION OVERALL,TYPICAL FOR THE AREA. THERE ARE NO MAJOR FUNCTIONAL OR PHYSICAL PROBLEMS
APPARENT.
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• Proximity 3o Subject V 0.32 miles N 0.31Vmiles NE 0.19 miles N
Sale Price $ $ 347,500 $ 364,000 $ 372,500
Sale Price/Gross Liv.Area $ sq.ft.-$ 165.71 sq.ft. ,$ 233.18 sq.ft._ $ 197.09 sq.ft.
Data Source(s) MLS 686126;DOM 98 MLS 657848;DOM 290 MLS 676504;DOM 108
Verification Source(s) ASSESSOR ASSESSOR ASSESSOR
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-)$Adjustment DESCRIPTION +(-)$Adjustment DESCRIPTION +(-)$Adjustment
Sales or Financing ArmLth ArmLth ArmLth
Concessions FHA;O Conv;0 Conv;4500 -4,500
Date of Sale/Time s11/12;c10/12 _ s06/12;c03/12 , s08/12;c07/12
Location N;Res; N;Res; N;Res; N;Res;
Leasehold/Fee Simple Fee Simple Fee Simple Fee Simple Fee Simple
Site 1.29 ac 1 ac 0 1 ac 0 1 ac 0
View B;Mtn; B;Mtn; B;Mtn; B;Mtn;
Design(Style) RANCH 1.5 STORY +4,200 RANCH RANCH
Quality of Construction Q4 Q4 Q4 Q4
Actual Age 12 12 12 12
Condition C3 C3 C3 C3
Above Grade Total Bdrms. Baths Total Bdrms. Baths 0 Total Bdrms. Baths 0 Total Bdrms. Baths 0
Room Count 5 2 2.0 6 3 2.2 -3,000 6 2 2.0 0 6 3 2.0 0
Gross Living Area 1,663 sq.ft. 2,097 sq.ft. -15,200 1,561 sq.ft. +3,600 1,890 sq.ft. -7,900
Basement&Finished 1607sf0sfin 1407sf1407sfin +1,600 1530sf0sfwo -5,500 1830sf1739sfin -1,800
Rooms Below Grade 1rr1br0.0balo -14,100 -6,100 1rr2br1.0ba10 -17,400
= Functional Utility AVG/TYP AVG/TYP 276 SF ATTIC -9,700 AVG/TYP
Heating/Cooling FA GAS/AC FA GAS/AC FA GAS/AC FA GAS/AC
2 Energy Efficient Items TYPICAL TYPICAL TYPICAL ,TYPICAL
a Garage/Carport 3 CAR+969 SF 4 CAR 933 SF +16,300 3 CAR 792 SF +19,100 3 CAR 936 SF +16,300
z Porch/Patio/Deck PAT,ENC PA,F PO,PA,FE +5,800 DE,PAT,DE,FE +3,800 DE,FEN +5,800
o APPLIANCES RO DW MO RO DW MO RF -200 RO DW RF MO -200 RO DW RF MO -200
it FP,LNOSC,ETC 2FP LNDSCP FP LNDSCP +3,500 FP LNDSCP +3,500 FP LNDSCP +3,500
a EXTRAS/UPGRADES 5 PIECE,WD TI 5PC,WD,EXT 0 5PC,WD,EXT 0 5 PC,WD TI,EX 0
E
• Net Adjustment(Total) El + ® - $ -1,100 ® + El - $ 8,500 [1] + ® - $ -6,200
o• Adjusted Sale Price Net Adj. 0.3% Net Adj. 2.3% Net Adj. 1.7%
LU
of Comparables Gross Adj. 18.4%$ 346,400 Gross Adj. 14.1 % $ 372,500 Gross Adj. 15.4% $ 366,300
✓ I ® did ❑ did not research the sale or transfer history of the subject property and comparable sales.If not,explain
My research ❑ did ®did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Data Source(s) ASSESSOR RECORDS
My research ❑ did ®did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.
Data Source(s) ASSESSOR.
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales(report additional prior sales on page 3).
ITEM SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 COMPARABLE SALE#3
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s) ASSESSOR ASSESSOR ASSESSOR ASSESSOR
Effective Date of Data Source(s) 04/02/2013 04/02/2013 04/02/2013 04/02/2013
Analysis of prior sale or transfer history of the subject property and comparable sales
Summary of Sales Comparison Approach THE MOST RECENT AND SIMILAR COMPARABLES AVAILABLE WERE USED.ALL 3 ARE IN CASA LOMA
SUBDIVISION AND SIMILAR IN MARKETABILITY AND APPEAL.#3 INCLUDED SELLER CONCESSIONS IN THE PRICE,#1 IS OF INFERIOR
2 STORY DESIGN.#2 HAS A 276 SF ATTIC LOFT AND THE WALK OUT BASEMENT WAS ROUGH FRAMED BUT NOT FINISHED. THE
SUBJECT HAS 1,749 SF OF GARAGE,ATTACHED AND DETACHED,ALL OF THE COMPS HAVE SMALLER GARAGE AREAS.THE
SUBJECT HAS AN ENCLOSED PATIO,ALL THE COMPS ARE INFERIOR WITH PATIO AND DECKS. ALSO,THE SUBJECT HAS 2
FIREPLACES. ALL 3 SALES ARE WITHIN THE LAST YEAR,VALUES APPEAR TO HAVE BEEN STABLE SINCE THEIR SALE. EQUAL
WEIGHT IS PLACED ON ALL 3 SALES.
_Indicated Value by Sales Comparison Approach$ 366,000
Indicated Value by:Sales Comparison Approach$ 366,000 Cost Approach(if developed)$ Income Approach(if developed)$
THE SALES COMPARISON APPROACH WAS UTILIZED.SUFFICIENT SALES EXIST TO WARRANT RELIANCE ON THE SALES
o COMPARISON APPROACH AS THE SOLE INDICATION OF VALUE FOR THE SUBJECT.THE COST AND INCOME APPROACHES ARE NOT
i= RELIABLE IN THE SUBJECTS CASE NOR NEEDED FOR A CREDIBLE APPRAISAL.
1
NEIGHBORHOOD COMMENTS CONTINUED: FINANCING IS READILY AVAILABLE IN THE AREA,FHA,VA,AND CONVENTIONAL LOANS
ARE TYPICAL. IT IS TYPICAL FOR THE SELLER TO PAY UP TO 3%OF THE SALES PRICE TO FACILITATE BUYER FINANCING.SEE
MARKET CONDITIONS SHEET. HOA DUES COVER COMMON AREA MAINTENANCE. THE SUBJECT NEIGHBORHOOD IS ISOLATED
FROM OTHER SUBDIVISIONS AND HAS UNIQUE CHARACTERISTICS. THE USE OF COMPARABLES WITHIN THE SUBDIVISION IS
PREFERABLE.
SITE COMMENTS: THE SUBJECT BACKS TO THE COUNTY ROAD BUT DOES HAVE A SLIGHTLY LARGER THAN TYPICAL LOT,
BALANCING CHARACTERISTICS. THE SUBJECT IS INSIDE THE SEVERANCE CITY LIMITS. THE FEMA FLOOD MAP DOES NOT APPEAR
TO EXTEND TO THE SUBJECT.
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COST APPROACH TO VALUE(not required by Fannie Mae)
Provide adequate information for the lender/client to replicate the below cost figures and calculations.
Support for the opinion of site value(summary of comparable land sales or other methods for estimating site value)
5 ESTIMATED ❑ REPRODUCTION OR ❑ REPLACEMENT COST NEW OPINION OF SITE VALUE _$
o Source of cost data DWELLING Sq.Ft.@$ =$
a Quality rating from cost service Effective date of cost data Sq.Ft.@$ =$
Comments on Cost Approach(gross living area calculations,depreciation,etc.) _$
Garage/Carport Sq.Ft.@$ _$
Total Estimate of Cost-New =$
Less Physical Functional External
Depreciation =$(
Depreciated Cost of Improvements =$
`As-is`Value of Site Improvements =$
Estimated Remaining Economic Life(HUD and VA only) 54 Years INDICATED VALUE BY COST APPROACH =$
INCOME APPROACH TO VALUE(not required by Fannie Mae)
Estimated Monthly Market Rent$ X Gross Rent Multiplier =$ Indicated Value by Income Approach
z Summary of Income Approach including support for market rent and GRM
PROJECT INFORMATION FOR PUDs(if applicable)
Is the developer/builder in control of the Homeowners'Association(HOA)? ❑Yes ® No Unit type(s) ®Detached ❑ Attached
Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit.
Legal Name of Project
z Total number of phases Total number of units Total number of units sold
Total number of units rented Total number of units for sale Data source(s)
2 Was the project created by the conversion of existing building(s)into a PUD? ❑Yes Li No tf Yes,date of conversion.
oDoes the project contain any multi-dwelling units? CI Yes CI No Data Source
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uuiumuy ucuua a u uvciau uianei euuwuuua as icpunnu ill we nayuuumuuu setuuu m me apPiaisa1 iepmt imrn. me appiaisei MUSE uu man ule miormanun to me extent
it is available and reliable and must provide analysis as indicated below.tf any required data is unavailable or is considered unreliable,the appraiser must provide an
explanation.It is recognized that not all data sources will be able to provide data for the shaded areas below;if it is available,however,the appraiser must include the data
in the analysis.If data sources provide the required information as an average instead of the median,the appraiser should report the available figure and identify it as an
average.Sales and listings must be properties that compete with the subject property,determined by applying the criteria that would be used by a prospective buyer of the
subject property.The appraiser must explain any anomalies in the data,such as seasonal markets,new construction,foreclosures,etc.
Inventory Analysis Prior 7-12 Months Prior 4-6 Months Current—3 Months Overall Trend
Total#of Comparable Sales(Settled) 2 2 0 ❑ Increasing ❑ Stable ❑ Declining
Absorption Rate(Total Sales/Months) 0.33 0.67 0 ❑ Increasing ® Stable ❑ Declining
Total#of Comparable Active Listings 4 3 5 ❑Declining ®Stable ❑ Increasing
Months of Housing Supply(Total Listings/Ab.Rate) 12.1 4.5 N/A ❑ Declining ® Stable ❑ Increasing'
Median Sale&List Price,DOM,Sale/List% Prior 7-12 Months Prior 4-6 Months Current—3 Months Overall Trend
Median Comparable Sale Price 368,250 373,750 N/A ❑ Increasing ® Stable ❑ Declining
Median Comparable Sales Days on Market 249 135 N/A ❑ Declining ® Stable ❑ Increasing
m Median Comparable List Price 374,250 388,500 388,500 ❑ Increasing ® Stable ❑ Declining
Median Comparable Listings Days on Market N/A N/A N/A ❑ Declining ❑ Stable ❑ Increasing
z Median Sale Price as%of List Price 97.83 93.77 N/A ❑ Increasing ® Stable ❑ Declining
Seller-(developer,builder,etc.)paid financial assistance prevalent? ®Yes ❑ No ❑ Declining ® Stable ❑ Increasing
I Explain in detail the seller concessions trends for the past 12 months(e.g.,seller contributions increased from 3%to 5%,increasing use of buydowns,closing costs,condo
a fees,options,etc.). IT IS TYPICAL FOR THE SELLER TO PAY UP TO 3%OF THE SALES PRICE TO FACILITATE THE BUYERS
PURCHASE.
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i Are foreclosure sales(REO sales)a factor in the market? ®Yes ❑ No If yes,explain(including the trends in listings and sales of foreclosed properties).
FORECLOSURE AND SHORT SALES ARE A FACTOR IN THE AREA.THEY TYPICALLY SELL QUICKLY AND ARE DAMAGED IN SOME
WAY REQUIRING REPAIR.
Cite data sources for above information. MULTI-LISTING SERVICE.
Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form.If you used any additional information,such as
an analysis of pending sales and/or expired and withdrawn listings,to formulate your conclusions,provide both an explanation and support for your conclusions.
THE ABOVE STATISTICS INDICATE STEADY SALES AND A STEADY SUPPLY OF LISTINGS. OVERALL,THE PRICES HAVE ENDED
STABLE FOR THE YEAR. THERE ARE 5 CURRENT LISTINGS,ONE OF WHICH IS UNDER CONTRACT.
If the subject is a unit in a condominium or cooperative project,complete the following: Project Name:
Subject Project Data Prior 7-12 Months Prior 4-6 Months Current—3 Months Overall Trend
Total#of Comparable Sales(Settled) ❑ Increasing ❑ Stable ❑ Declining
Absorption Rate(Total Sales/Months) ❑ Increasing ❑ Stable ❑ Declining
Total#of Active Comparable Listings ❑ Declining ❑ Stable ❑ Increasing
Months of Unit Supply(Total Listings/Ab.Rate) ❑ Declining ❑Stable ❑ Increasing
Are foreclosure sales(REO sales)a factor in the project? ❑Yes [1N If yes,indicate the number of REO listings and explain the trends in listings and sales of
foreclosed properties.
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o Summarize the above trends and address the impact on the subject unit and project.
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This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,
statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended
use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may
expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal
assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do
not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's
continuing education or membership in an appraisal organization, are permitted.
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the
reporting requirements of this appraisal report form, including the following definition of market value, statement of
assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual
inspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the
comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources,
and (5) report his or her analysis, opinions, and conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is the
subject of this appraisal for a mortgage finance transaction.
INTENDED USER: The intended user of this appraisal report is the lender/client.
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 or she considers his or her 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.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is
subject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title
to it, except for information that he or she became aware of during the research involved in performing this appraisal. The
appraiser assumes that the title is good and marketable and will not render any opinions about the title.
2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.
The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination
of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency
(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an
identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or
implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,
unless specific arrangements to do so have been made beforehand, or as otherwise required by law.
5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or
she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisal
report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the
property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,
adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such
conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such
conditions that do exist or for any engineering or testing that might be required
g g gto discover whether such conditions exist.
Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as
an environmental assessment of the property.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition
of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the
livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal
Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in
place at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales
comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach
for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop
them, unless otherwise indicated in this report.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for
sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject
property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior
to the date of sale of the comparable sale, unless otherwise indicated in this report.
7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.
8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that
has been built or will be built on the land.
9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject
property and the comparable sales.
10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in
the sale or financing of the subject property.
11. I have knowledge and experience in appraising this type of property in this market area.
12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing
services, tax assessment records, public land records and other such data sources for the area in which the property is located.
13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from
reliable sources that I believe to be true and correct.
14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject
property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I
have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the
subject property or that I became aware of during the research involved in performing this appraisal. I have considered these
adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and
marketability of the subject property.
15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all
statements and information in this appraisal report are true and correct.
16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which
are subject only to the assumptions and limiting conditions in this appraisal report.
17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or
prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or
completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital
status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the
present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.
18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not
conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a
predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of
any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending
mortgage loan application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I
relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal
or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this
annroical ronnrt I nortifii that anti inrlivirIiiol en nnmorl is ,iu Iifloll to norfnrm tho tQclrc I hug not allfhnri7oll nvnno to mono
'obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal
report'may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public
relations, news, sales, or other media).
22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain
laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice
that pertain to disclosure or distribution by me.
23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage
insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part
of any mortgage finance transaction that involves any one or more of these parties.
24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this
appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and
valid as if a paper version of this appraisal report were delivered containing my original hand written signature.
25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or
criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States
Code, Section 1001, et seq., or similar state laws.
SUPERVISORY APPRAISER'S CERTIACATION: The Supervisory Appraiser certifies and agrees that:
1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's
analysis, opinions, statements, conclusions, and the appraiser's certification.
2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions,
statements, conclusions, and the appraiser's certification.
3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the
appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.
4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal
report was prepared.
5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this
appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and
valid as if a paper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER '' SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signaturec____Aid.64
Signature
Name Russell C.Wells,SRA Name
Company Name RUSSELL C WELLS, INC. Company Name
Company Address 2738 BRADFORD SQUARE Company Address
FORT COLLINS,CO 80526
Telephone Number (970)495-0508 Telephone Number
Email Address rcwmiw@q.com Email Address
Date of Signature and Report 04/03/2013 Date of Signature
Effective Date of Appraisal 04/02/2013 State Certification#
State Certification# CG01313491 or State License#
or State License# State
or Other(describe) State# Expiration Date of Certification or License
State Co
Expiration Date of Certification or License 12/31/2015 SUBJECT PROPERTY
ADDRESS OF PROPERTY APPRAISED ❑ Did not inspect subject property
1101 San Miguel Dr ❑ Did inspect exterior of subject property from street
Severance,CO 80550 Date of Inspection
APPRAISED VALUE OF SUBJECT PROPERTY$ 366,000 ❑ Did inspect interior and exterior of subject property
LENDER/CLIENT Date of Inspection
Name No AMC • ,.1""•.-e,
- Abbreviation Full Name Fields Where This Abbreviation May Appear
ac Acres Area,Site
AdjPrk Adjacent to Park Location
AdjPwr Adjacent to Power Lines Location
A Adverse Location&View
ArmLth Arms Length Sale Sale or Financing Concessions
ba Bathroom(s) Basement&Finished Rooms Below Grade
br Bedroom Basement&Finished Rooms Below Grade
B Beneficial Location&View
Cash Cash Sale or Financing Concessions
CtySky City View Skyline View View
CtyStr City Street View View
Comm Commercial Influence Location
c Contracted Date Date of Sale/Time
Cony Conventional Sale or Financing Concessions
CrtOrd Court Ordered Sale Sale or Financing Concessions
DOM Days On Market Data Sources
e Expiration Date Date of Sale/Time
Estate Estate Sale Sale or Financing Concessions
FHA Federal Housing Authority Sale or Financing Concessions
GlfCse Golf Course Location
Glfvw Golf Course View View
Ind Industrial Location&View
in Interior Only Stairs Basement&Finished Rooms Below Grade
Lndfl Landfill Location
LtdSght Limited Sight View
Listing Listing Sale or Financing Concessions
Mtn Mountain View View
N Neutral Location&View
NonArm Non-Arms Length Sale Sale or Financing Concessions
BsyRd Busy Road Location
o Other Basement&Finished Rooms Below Grade
Prk Park View View
Pstrl Pastoral View View
PwrLn Power Lines View
PubTrn Public Transportation Location
rr Recreational (Rec)Room Basement&Finished Rooms Below Grade
Relo Relocation Sale Sale or Financing Concessions
REO REO Sale Sale or Financing Concessions
Res Residential Location&View
RH USDA-Rural Housing Sale or Financing Concessions
s Settlement Date Date of Sale/Time
Short Short Sale Sale or Financing Concessions
sf Square Feet Area,Site,Basement
sqm Square Meters Area,Site
Unk Unknown Date of Sale/Time
VA Veterans Administration Sale or Financing Concessions
w Withdrawn Date Date of Sale/Time
wo Walk Out Basement Basement&Finished Rooms Below Grade
wu Walk Up Basement Basement&Finished Rooms Below Grade
WtrFr Water Frontage Location
Wtr Water View View
Woods Woods View View
Other Appraiser-Defined Abbreviations
Abbreviation Full Name Fields Where This Abbreviation May Appear
RO DW MO RANGE/OVEN,DISHWASHER,MICROWAVE
FP FIREPLACE
WD WOOD FLOORING
GR GRANITE COUNTERS
5PC 5 PIECE MASTER BATH
TI TILE
Cl
The improvements have been very recently constructed and have not previously been occupied.The entire structure and all components are new
and the dwelling features no physical depreciation.*
*Note:Newly constructed improvements that feature recycled materials and/or components can be considered new dwellings provided that the
dwelling is placed on a 100%new foundation and the recycled materials and the recycled components have been rehabilitated/re-manufactured
into like-new condition.Recently constructed improvements that have not been previously occupied are not considered"new"if they have any
significant physical depreciation(i.e.,newly constructed dwellings that have been vacant for an extended period of time without adequate
maintenance or upkeep).
C2
The improvements feature no deferred maintenance,little or no physical depreciation,and require no repairs.Virtually all building components
are new or have been recently repaired,refinished,or rehabilitated.All outdated components and finishes have been updated and/or replaced
with components that meet current standards. Dwellings in this category either are almost new or have been recently completely renovated and
are similar in condition to new construction.
C3
The improvements are well maintained and feature limited physical depreciation due to normal wear and tear.Some components,but not every
major building component,may be updated or recently rehabilitated.The structure has been well maintained.
C4
The improvements feature some minor deferred maintenance and physical deterioration due to normal wear and tear.The dwelling has been
adequately maintained and requires only minimal repairs to building components/mechanical systems and cosmetic repairs.All major building
components have been adequately maintained and are functionally adequate.
C5
The improvements feature obvious deferred maintenance and are in need of some significant repairs.Some building components need repairs,
rehabilitation,or updating.The functional utility and overaf livability is somewhat diminished due to condition,but the dwelling remains
useable and functional as a residence.
C6
The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety,
soundness,or structural integrity of the improvements.The improvements are in need of substantial repairs and rehabilitation,including many
or most major components.
Quality Ratings and Definitions
01
Dwellings with this quality rating are usually unique structures that are individually designed by an architect for a specified user.Such
residences typically are constructed from detailed architectural plans and specifications and feature an exceptionally high level of workmanship
and exceptionally high-grade materials throughout the interior and exterior of the structure.The design features exceptionally high-quality
exterior refinements and ornamentation,and exceptionally high-quality interior refinements.The workmanship,materials,and finishes
throughout the dwelling are of exceptionally high quality.
02
Dwellings with this quality rating are often custom designed for construction on an individual property owner's site.However,dwellings in
this quality grade are also found in high-quality tract developments featuring residence constructed from individual plans or from highly
modified or upgraded plans.The design features detailed,high quality exterior ornamentation,high-quality interior refinements,and detail.The
workmanship,materials,and finishes throughout the dwelling are generally of high or very high quality.
03
Dwellings with this quality rating are residences of higher quality built from individual or readily available designer plans in above-standard
residential tract developments or on an individual property owner's site.The design includes significant exterior ornamentation and interiors
that are well finished.The workmanship exceeds acceptable standards and many materials and finishes throughout the dwelling have been
upgraded from"stock"standards.
Q4
Dwellings with this quality rating meet or exceed the requirements of applicable building codes.Standard or modified standard building plans
Q5
Dwellings with this quality rating feature economy of construction and basic functionality as main considerations.Such dwellings feature a
plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation
and limited interior detail.These dwellings meet minimum building codes and are constructed with inexpensive,stock materials
with limited refinements and upgrades.
Q6
Dwellings with this quality rating are of basic quality and lower cost;some may not be suitable for year-round occupancy.Such dwellings
are often built with simple plans or without plans,often utilizing the lowest quality building materials.Such dwellings are often built or
expanded by persons who are professionally unskilled or possess only minimal construction skills.Electrical,plumbing,and other mechanical
systems and equipment may be minimal or non-existent.Older dwellings may feature one or more substandard or non-conforming additions
to the original structure
Definitions of Not Updated, Updated, and Remodeled
Not Updated
Little or no updating or modernization.This description includes,but is not limited to,new homes.
Residential properties of fifteen years of age or less often reflect an original condition with no updating,if no major
components have been replaced or updated.Those over fifteen years of age are also considered not updated if the
appliances,fixtures,and finishes are predominantly dated.An area that is'Not Updated'may still be well maintained
and fully functional,and this rating does not necessarily imply deferred maintenance or physical/functional deterioration.
Updated
The area of the home has been modified to meet current market expectations.These modifications
are limited in terms of both scope and cost.
An updated area of the home should have an improved look and feel,or functional utility.Changes that constitute
updates include refurbishment and/or replacing components to meet existing market expectations.Updates do not
include significant alterations to the existing structure.
Remodeled
Significant finish and/or structural changes have been made that increase utility and appeal through
complete replacement and/or expansion.
A remodeled area reflects fundamental changes that include multiple alterations.These alterations may include
some or all of the following:replacement of a major component(cabinet(s),bathtub,or bathroom tile),relocation
of plumbing/gas fixtures/appliances,significant structural alterations(relocating walls,and/or the addition of)
square footage).This would include a complete gutting and rebuild.
Explanation of Bathroom Count
Three-quarter baths are counted as a full bath in all cases. Quarter baths(baths that feature only a toilet)are not
included in the bathroom count. The number of full and half baths is reported by separating the two values using a
period,where the full bath count is represented to the left of the period and the half bath count is represented to the
right of the period.
Example:
3.2 indicates three full baths and two half baths.
24.1'
ENCLOSED PORCH N CONCRETE PATIO
N f+
DETACHED 40.3 X 24.1 GARAGE
24.1' 41.6' 'L' 2.4
lIJ
' 0
°2 Dining Kitchen U Bedroom
?8 Master Bedroom
cn FP •
MASTE
F.: FP- Laundry ath Closet Bath
taircase
Living
17.4' iv
ENTRY • 14.7'
cr% 7.9'
DRYWALLED
'.o
2.5 3 CAR GARAGE
•c.?5 1;Ly F �o
rn �
- N
19.2'
12.9'
TOTAL Sketch by a r mode,inc. Area Cakulations Summary
Living Area Calculation Details
First Floor 1663.25 Sq ft 0.5 x 2 x 2 = 2
0.5x2x2 = 2
6.1 x 2 = 12.2
0.5x2x2 = 2
0.5x2x2 = 2
6x2 = 12
5.1 x 2 = 10.2
0.5x2x2 = 2
0.5x2x2 = 2
5.1 x 2 = 10.2
26.5 x 14.7 = 389.55
24.5 x 17.4 = 426.3
22 x 32.1 = 706.2
14.1 x 6 = 84.6
Total Living Area(Rounded): 1663 Sq ft
Non-living Area
3 Car Attached 779.76 Sq ft 23.6 x 17.4 = 410.64
a la mode, inc ` _ .
Inc czo0.••
Comparable # 1
¶O02 CORII Z WAY
0.32 miles N
Couriy Road 78
Comparable # 2
4399 INDIGO DRIVE
0.31 mites NE
Comparable # 3 N ��
1103 CORONA DR mac'
0.19 miles N c) oon���
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San Miguel Dr
3b 12
Subject
1101 Salt Miguel Dr
23
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