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Home My WebLink About20152560.tiff 1861 j y CLERK TO THE BOARD PHONE (970) 336-7215, EXT 4226 TrEi -' FAX (970) 352-0242 WEBSITE: www.co.weld.co.us 1150 O STREET COUNTY P.O. BOX 758 GREELEY CO 80632 September 2, 2015 RENDER RUSSELL M 2655 MEADOW LN MEAD, CO 80542-9766 RE: THE BOARD OF EQUALIZATION 2015, WELD COUNTY COLORADO APPROVAL OF STIPULATION BETWEEN PETITIONER AND ASSESSOR ACCOUNT NO.: R0258695 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 $303,891.00 $290,000.00 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, Esther E. Gesick, Clerk to the Board Weld County Board of County Commissioners Cc: Christopher Woodruff, Weld County Assessor 2015-2560 AS0091 COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R0258695 STIPULATION (As To Tax Year_2015_Actual Value) RE PETITION OF : NAME: Russell Rehder ADDRESS: 2655 Meadow Lane Mead, Colorado 80542 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: MCA NC5-1 LI BLK5 NORTH CREEK AT MEAD 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 $303,891.00 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 $290,000.00 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 value based on additional sales comparables. 7. Both parties agree that: OThe hearing scheduled before the Board of Equalization on at be vacated. ®A hearing has not yet been scheduled before the Board of Equalization. R0258695 1 2015-2560 DATED this 20 day of July, 2015. Petitioner(s) or Agent or Attorney (Assistant)County Attorney for Respondent, Weld County Board of Commissioners Address: Address: sv yvt BCofro (-enrk 1150 "O" Street vvl �, _LLD 'co s`1 �:_ P.O. Box 758 Greeley, CO 80632 Telephone: 30.•--(.t _�?�7 )-3 Telephone:(970) 336-7235 • County Assessor -T),. fi•% 1 •; Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 353-3845 ext. 3697 Docket Number Stip-1.Frm R0258695 2 CLERK TO THE BOARD 1861 / PHONE (970) 336-7215, EXT 4226 FAX (970) 352-0242 i-tyrriffiiA: WEBSITE: www.co.weld.co.us � 1150 O STREET -trj At P.O. BOX 758 GREELEY CO 80632 COUNTY July 27, 2015 REHDER RUSSELL M 2655 MEADOW LN MEAD, CO 805429766 Account No.: R0258695 Dear Petitioner(s): The Weld County Board of Equalization has set a date of July 31, 2015, at or about the hour of 2:50 PM, to hold a hearing on your valuation for assessment. This hearing will be held at the Weld County Administration Building, Assembly Room, 1150 O Street, Greeley, Colorado. You have a right to attend this hearing and present evidence in support of your petition. The Weld County Assessor or his designee will be present. The Board will make its decision on the basis of the record made at the aforementioned hearing, as well as your petition, so it would be in your interest to have a representative present. If you plan to be represented by an agent or an attorney at your hearing, prior to the hearing you shall provide, in writing to the Clerk to the Board's Office, an authorization for the agent or attorney to represent you. If you do not choose to attend this hearing, a decision will still be made by the Board by the close of business on August 5, 2015, and mailed to you on or before August 12, 2015. Because of the volume of cases before the Board of Equalization, most cases shall be limited to 10 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. If you wish to obtain the data supporting the Assessor's valuation of your property, please submit a written request directly to the Assessor's Office by fax (970) 304-6433, or if you have questions, call (970) 353-3845. Upon receipt of your written request, the Assessor will notify you of the estimated cost of providing such information. Payment must be made prior to the Assessor providing such information, at which time the Assessor will make the data available within three (3) working days, subject to any confidentiality requirements. AS0091 RENDER RUSSELL M - R0258695 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 Esther E. Gesick Clerk to the Board Weld County Board of County Commissioners cc: Christopher Woodruff, Assessor AS0091 NOTICE OF T RMINATIO RECEIVED Christopher M. Woodruff JUL 1 6 2015 Date of Notice: 6/30/2015 Weld County Assessor Telephone: (970) 353-3845 1400 N 17th Ave WELD COUNTY Fax: (970) 304-6433 Greeley, CO 80631 COMMISSIONERS Office Hours: 8:00AM - 5:00PM ACCOUNT NO. TAX YEAR TAX AREA LEGAL DESCRIPTION/PHYSICAL LOCATION R0258695 2015 1361 MEA NC5-1 L1 BLK5 NORTH CREEK AT MEAD w RENDER RUSSELL M 2655 MEADOW LN 2655 MEADOW LN MEAD,CO 000000000 MEAD,CO 80542-9766 cc cc w a O ASSESSOR'S VALUATION PROPERTY CLASSIFICATION ACTUAL VALUE PRIOR TO ACTUAL VALUE AFTER REVIEW REVIEW RESIDENTIAL 318,468 303,891 TOTAL $318,468 $303,891 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: AL02- The actual valuation of your property has been adjusted based on new information. This may be information you have supplied, corrections of characteristics or additional sales. 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): 6000-0210 H` cog 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 O 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.) $ 2'1'f�9'(o2 lO 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 au.) installed cost, appraisal, etc.) a spa ATTESTATION I, the undersigned owner or agent' of the property identified above, affirm that the statements contained herein nd on any attachments hereto are true and complete. L,CA) 9'70-535-736-3 7/Pf-/is Signature . - Telephone Number Date r A� . �� & 3 -(o 19-072_3 Email Address 3 ' Attach letter of authorization signed by property owner. 15-DPT-AR PR 207-08/13 R0258695 8430734 In oI a ILil m II i 1 I I� 0 0 c i to I c o _ a'o' I V, l y 0I I m 'dI y'r(c al O �j m -0 c o c _c c_ c d E 3 r ° tl0 3 3 E x x j X 3 5 3 c bbI V Y Y r 1 1 x Y e L C OofOO, ly c•3 Ft § vlv_ WI Q y 0v''x 0+. .0 xI E 1 m' N .7. •N •. >' NS > c E o of be o. c.h I c .'",•: v > > c' >i 01 m I o mI on CO CO m" 0. mI 0. > .., 0 0 0 0. .0 C.1y C >i O O W I W0 St O-N 0 I CO CO1.0 ID C C C Op 3�I m J N mI m O m y y O,, elf. 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NIp 0l ofNiIn ,40 IA W M 0f O1O 0 0i 0'� O ao M,O .O /'A� �'N NI. eV' 1N N N'V NI MIM en MI CC MI '�N NNN I I II s Il m NIII M N M M M m'N M' VII M M I M M M 1 Ls..14....n.\I\ I\ . N'\ \ \\\\ \ \ ("Ile) M of of CO \,f M in i M N 1 0 M M In15 m li QI O1' 0� i I IE I O >I a > > z 07 N I W m m WI m' CY C N O pl Z p` o a m c C C c c 2 I m ≥,0 W O) Z >) J J JIJ J 1 7 7 7 7 .O m'> v,oQIC) ≥ mI0O 333'' 31 31 3 vpcicv J' Q > p >i„ > ply o >'!- m o 0 0 O O' -5 >, >, > > al ivc ,,. ¢r c Ivry 'O yf yl m ¢ ¢I¢ ' vQmvvd7E m;mmm co N vm� vv m NL m m m ..•f M -`,. ., F A' o, -l3 > vi 2222 m alien m Al CO 0'to In = pO CO IA N 0 M M N M Ill I ,W W j W W rl M COI n CO Q fn N. CO N 0 CO M M M N an I{O !.. un1 N I N. n t0 lO t0 of I- v, in to m(Z t0 j b ID lD CO ID I .-I Nl.4I W N. N N NIN N IN N .4 NIN 0 "O MIMM MIM MI _-_ . _. Vf N CI N N M Cr I , > > > > IQ IW 0 N OOIN 10 a 40iWIW (0 OIC0 tj'G b GI d 01 IOl M r1 LP t 0 N O .-110 N .-! .. N Mf 0 1 d a .•. .-I N N W jp N Cr l t!f LO'N CO ••! r'}E in tO o m M E R a I 0 0 0,0 0 0 I O .•. O'0 O .-I I O D O O I 4, Y i I.. O O 0 a 0 .+ N M ' i Cr an LOIN CO Qf .a y IA O ! N ...,Z340 I a/-t 3325489374 r Uniform Residential Appraisal Report 3325481374 File 052-7584203 The purpose of this summary appraisal report is to_provide the lender/client with an accurate,and adequately supported,opinion of the market value of the subject property. t Property Address 2655 Meadow Ln City Mead State CO Zip Code 80542 'I Russell&Michele Rehder Owner of Public Record Russell&Michele Rehder County Weld County �;: Borrower `• Legal Description MEA NC5-1 BLK5 NORTH CREEK AT MEAD 2655 MEADOW LN MEAD 0 Assessor's Parcel# 120709105001 Tax Year 2012 R.E.Taxes$ 1,933 Neighborhood Name Meadow Ln Map Reference 24540 Census Tract 0021.03 ' Occupant X Owner ❑Tenant ❑Vacant Special Assessments$ 0 ❑PUD HOA$ 0 ❑per year ❑per month ij. Property Rights Appraised ®Fee Simple ❑Leasehold ❑Other (describe) Assignment Type ❑Purchase Transaction ®Refinance Transaction ❑Other (describe) Lender/Client Quicken Loans Address 1050 Woodward Ave Detroit MI 48226 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 XI No Report data source(s)used,offering price(s),and date(s). IRES/MLS A !4-s:'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 the analysis was not performed. ij Contract Price$ Date of Contract Is the property seller the owner of public record? ❑Yes ❑No Data Source(s) '' 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 If Yes,report the total dollar amount and describe the items to be paid. °' Note:Race and the racial composition of the t neighborhood are not appraisal factors.� jy� y�.. '44 �y /� �A� y Q+�t*Av'� / R e TYf1 ' fi�04 1!v,x+oui1";�r �,G tl0 ' �� k . rcz j giiitHc US)irt9/ s' \press!,Land Use\% :.: y.,��1��^�[;�1.,��„�C�tF•tr'l�i�.T.�-r.n�.:.: xs��x..Y.._�•1��,'`.. .;#,;.tad',. .,�� . a%,.Y. .sY�, Location 0 Urban 0 Suburban[X Rural Property Values ❑Increasing ®Stable ❑Declining PRICE AGE One-Unit 80 % Built-Up X Over 75%❑25-75% ❑Under 25% Demand/Supply ❑Shortage X In Balance❑Over Supply $(000) (yrs) 2-4 Unit 5 % '1, 200 Low 1 Multi-Family ° m Growth ❑Rapid ©Stable ❑Slow Marketing Time ©Under 3 mths ❑3-6 mths ❑Over 6 mths ° Neighborhood Boundaries 300 High 50 Commercial 10 % „: 1 County Road 36 to the north,Welker Ave to the south,Falcon Cir to the east and W View Road to the west 265 Pred. 20 Other %w ' Neighborhood Description The area consists of a combination of single family and some condo and multi-family housing,and some retail development.Schools and services are located nearby with good • access.Employment in the area is stable.The subject is located in the The Village at Southridge neighborhood which has many long term residents.Public transportation is in the area. ''' Market Conditions(including support for the above conclusions) 4.5 See Supplemental Addendum. 4* 12564 sf Rectangular/Slight bnd N;Res; 't Dimensions Subject to Survey Area ShapeView• Specific Zoning Classification R801 Zoning Description Single Fam Res Improvements +Y Zoning Compliance®Legal ❑Legal Nonconforming(Grandfathered Use) ❑No Zoning ❑Illegal(describe) A: Yes ❑No If No,describe. 1', Is the highest and best use of subject property as improved(or as proposed per plans and specifications)the present use? Utilities Public Other(describe) Public Other(describe) Off-site Improvements-Type Public Private 'K ❑ Street Asphalt Paved ❑ °�;�Electricity � ❑ Water Alley None ❑ ❑ Gas � ❑ Sanitary Sewer 21 ❑ 12/18/2009 D FEMA Map o8093C1000C FEMA Map Date _ likes # : FEMA Special Flood Hazard Area Yes ©No FEMA Flood Zone +0` :1 Are the utilities and off-site improvements typical for the market area? ®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. 44 fi ,_ ' 1r3ctehl r Desa„r.100)t *40..001.cl�ndjttoa. ,.a? tnt rlar ,. aterra(sfaanaipofl ,, Y � toh x r. �..-�_, ..�F:��irtdat�an�� _ .r<�t. - Units X One ❑One with Accessory Unit ❑Concrete Slab ❑Crawl Space Foundation Walls Concrete/Good Floors Wd/Crpt/Tile/Good # of Stories 1 ®Full Basement ❑Partial Basement Exterior Walls Wood/Brick/Good Walls Drywall/Good Ai 1,456 sq.ft. Roof Surface CompShingle/Good Trim/Finish Wood/Good Type ©Det. ❑Att. ❑S-Det./End Unit Basement Area X Existing ❑Proposed❑Under Const. Basement Finish 100 % Gutters&Downspouts Yes/Metal/Good Bath Floor Tile/Good I • Design(Style) 1Story IX Outside Entry/Exit 0 Sump Pump Window Type ThermalPane/Good Bath Wainscot None Noted • Year Built 1995 Evidence of ❑Infestation Storm Sash/Insulated None Noted Car Storage ❑None Dampness Settlement Yes/Good 3 • Effective Age(Yrs) 2 ❑ ❑ Screens ®Driveway #of Cars Attic ❑None Heating X FWA 0 HWBB❑Radiant Amenities ❑WoodStove(s)#O Driveway Surface Concrete .a ❑Drop Stair ❑Stairs ❑Other Fuel Natural Gas ❑Fireplace(s)#0©Fence Split ©Garage #of Cars 3 I.! ❑Floor ®Scuttle Cooling ®Central Air Conditioning ®Patio/Deck Both ®porch Front ❑Carport #of Cars 0 a ❑Finished ❑Heated ❑Individual ❑Other ❑Pool None ❑Other None IX Att. 0 Det ❑Built-in Appliances X Refrigerator ®Range/Oven ®Dishwasher ®Disposal ®Microwave ©Washer/Dryer ❑Other(describe) ° Finished area above grade contains: 8 Rooms 3 Bedrooms 2.0 Bath(s) 1,456 Square Feet of Gross Living Area Above Grade Additional features(special energy efficient items,etc.) ' The subject features open rooms,ceiling fans and an adequate amount of thermal pane windows to allow for added passive solar influence. t*' Describe the condition of the property(including needed repairs,deterioration,renovations,remodeling,etc.). .: az C2;Kitchen-updated-one to five years ago;Bathrooms-updated-one to five years ago;No"needed repairs"of significance were noted although it is possible that some may exist, '`q. especially if they were not readily visible to the appraiser. The reader is directed to Limiting Condition of this report to understand the limitations on the appraiser's responsibilities .I' relative to hidden or unapparent physical deficiencies or adverse conditions of the property. The appraisal should not be relied on as a substitute for a home inspection. ii,ik Are there any physical deficiencies or adverse conditions that affect the livability,soundness,or structural integrity of the property? ❑Yes ©No If Yes,describe fit jj jj Does the property generally conform to the neighborhood(functional utility,style,condition,use,construction,etc.)? ®Yes ❑No If No,describe Fannie Mae Form 1004 March 2005 Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page Ready � There are 4 comparable properties currently offered for sale in the subject neighborhood ranging in price trom$ (;- 260,000 to$ 310,000 3,1t There are 5 comparable sales in the subject neighborhood within the past twelve months rangingin saleprice from$ fi€ <t FEATURE I SUBJECT COMPARABLE SALE#1 COMPARABLE SALE#2 COMPARABLE SALE#3 Address 2655 Meadow Ln 217 Eagle Ave 121 Falcon Cir 139 Eagle Ave Mead,CO 80542 Mead,CO 80542 Mead,CO 80542 Mead,CO 80542 3-;. v 0.52 miles E 0.85 miles E 0.78 miles E • Proximity to Subject a ., ,,, a a a g 305 000 �� . $ 269,000 ', a . t .?e $ 300,000 1 �x ,:�yto 7 $ Sale Price $ �x� -r. � 190.38 s ft a $ 176.06 sq ft �� $ 94.05 sq ft az; a iiii Sale Price/Gross Liv.Area $ sq ft $ q . t, e ' IRESMLS#717923,DOM 24 METROMLS#1241602,DOM 69 IRESMLS#707795;DOM 79 Data Source(s)ot .� a.1� r Ext Inspection/Data Files Ext Inspection/Data Files • Verification Source(s) ,-,'.,•,v,,,',..1-,"V:4;:=,..1',„„,,,,''',': �': g. ,'.,.,,,-,; Ext Inspection/Data Files p VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-)$Adjustment DESCRIPTION +(-)$Adjustment DESCRIPTION +(-)$Adjustment � ArmLth Sale or Financing ," •:, s > ,:. ; ArmLth ArmLth +r4,,£ ',� FHA;5000 -5,000 Conv;0 Concessions : i. E <� s Conv;2000 ,� s10/13;c09/13 s01/14;c12/13 s08/13;c07/13 Date of Sale/Time 000n-�*. -�r= , Location N;Res; N;Res; N;Res; N;Res; Fee Simple Fee Simple Fee Simple Fee Simple Leasehold/Fee Simple P 14375 sf 0 Site 12564 sf 13068 sf 0 12197 sf 0 View N;Res; N;Res; N;Res; N;Res; DT2;Sto 0 Design(Style) DT1;Story DT1;Story DT1;Story ry Q3 Q3 Q3 Q3 Quality of Construction 0 Actual Age 19 17 0 16 0 16 C• ondition C2 C2 C2 C2 A• bove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Room Count 8 3 2.0 7 3 2.0 0 6 3 3.0 -12,000 6 3 2.1 -6,000 1,456 s ft. 1,413 sq.ft. 0 1,704 sq.ft. -8,700 3,243 sq.ft. -62,500 Gross Living Area q• Basement&Finished 1456sf1456sfin 1413sf750sfin +21,840 1690sf0sfin +21,840 1334sf1334sfwo -10,000 Rooms Below Grade 1 rr3br1.0bal o 1 rrObrl.0ba2o 0 0 1 rri brl.0ba10 0 Functional Utility Good Good Good Good Heating/Cooling FWA/CFA FWA/CFA FWA/CFA FWA/CFA Energy Efficient Items ThermalWindo ThermalWindo ThermalWindo ThermalWindo Garage/Carport 3ga3dw 3ga3dw 3ga3dw 3ga3dw Porch/Patio/Deck FrtPrch/Pto/Dk FrtPrch/Pto/Dk FrtPrch/Pto/Dk FrontPrch/Deck 0 ® ❑ $ -3,860 ❑+ ® _ $ -78,500 Net Adjustment(Total) f + $ 21,840 ❑+ ® - % s. a' r 3 .1 Net Adj. 8.1 % Net Adj. 1.3 % Net Adj. 25.7 • of AdComp Sale Price '' 4 • % $ 290,840 Gross Adj.15.8 % 296,140 Gross Adj. 25.7 % $ 226,500 ;Y Gross Adj. 8.1 1 $ t Comparables „ „�+� ;� �. I did ❑did not research the sale or transfer history of the subject property and comparable sales.If not,explain k; fi xs M• y 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. ''• D• ata source(s) Weld County Public 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. 1Data source(s) Weld County Public Records t , 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 07/12/2013 "'. Date of Prior Sale/Transfer Price of Prior Sale/Transfer $275,000 Data Source(s) IRES/Weld County Rcds IRES/Weld County Rcds IRES/Weld County Rcds 'IRES/Weld County Rcds P` Effective Date of Data Source(s) 03/07/2014 03/07/2014 03/07/2014 03/07/2014 Analysis of prior sale or transfer history of the subject property and comparable sales • The subject has not transferred ownership within the previous 36 months prior to the effective date of this report. a Summary of Sales Comparison Approach I researched and analyzed comparable sales,and current listings of properties in the neighborhood that are comparable to the subject property. I found 3 comparable sales and 2 comparable listings with characteristics similar to the subject property. I have applied line item adjustments to each comparable sale to compensate for differences between the i. subject property and each comparable sale. The adjusted market value of each comparable sale supports the indicated value of the subject. Please see attached supplemental addendum for a discussion of the comparable sales and line item adjustments applied in this assignment. I 6 ,,,I, „:, x_1 Ti Indicated Value by Sales Comparison Approach$ 293,000 293,000 Cost Approach(if developed) 347,693 Income Approach(if developed)$0 Indicated Value by:Sales Comparison Approach$ PP P )$ The sales comparison approach to value is considered to be the best indicator of value for residential properties in this area. The cost approach to value supports the sales g comparison approach t This appraisal is made X "as is," ❑ subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been kcompleted, E=1 subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed,or❑subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: Based on a complete visual inspection of the interior and exterior areas of the subject property,defined scope of work,statement of assumptions and limiting conditions,and appraiser's certification,my(our)opinion of the market value,as defined,of the real property that is the subject of this report is $ 293,000 as of 03/06/2014 ,which is the date of inspection and the effective date of this appraisal. >s Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 2 of 6 Fannie Mae Form 1004 March 2005Al Ready I 3325481374 Uniform Residential Appraisal Report File# 052-7584203 The Intended Use is to evaluate the property for a mortgage finance transaction,subject to the stated Scope of Work,purpose of the appraisal,reporting requirements of this appraisal report form,and Definition of Market Value.No additional Intended Users are identified by the appraiser. T• he effective date of this appraisal report is 03/06/2014 the date I personally observed the exterior of the residence,the surrounding property and neighborhood. The date of the report is 03/08/2013,the date I signed the report. This report has been prepared under the guidelines set forth by the Appraisal Foundation through the Uniform Standards of P• rofessional Appraisal Practice. ▪ ADDITIONAL CERTIFICATIONS: I certify that to the best of my knowledge and belief,the reported analysis,opinions and conclusions were developed,and this report has been prepared,in conformity with the requirements of the code of professional ethics&standards of professional appraisal practice of the Appraisal Institute.'certify that the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. A. i1f G' '1e xaw u k ,. f . '.vx�l r, ��w e. ..y. /� .- +,.��« },,�n11 y �c�., �'.'� ! n'�z '��. ��i 9,i4t� �'� 2 .��z �� I•ik'g.?^,..�,'.;r�•xA.. ,�.., .,,d's,s°4z`-s',#+ ,.rnx^j'�rR PAP- ,.fi0,e•�1,}0' .0410 liti4 1!. 416i.;w, 4764.1E x/$01 .,��'�1.,. ,�f�1�. .A ��:.:.n.�'�� .,y �', �?..;'a. , '3a? Provide adequate information for the lender/client to replicate the below cost figures and calculations. •,, Support for the opinion of site value(summary of comparable land sales or other methods for estimating site value) ^'! Site values are based on all local area land sales. Site sizes and location as well as the aesthetic factor greatly affect the price of a parcel. ESTIMATED ®REPRODUCTION OR ❑ REPLACEMENT COST NEW OPINION OF SITE VALUE _$ 60,000 Source of cost data Marshall and Swift Cost Book Dwelling 1,456 Sq.Ft.@$ 97.25 =$ 141,596 ", Quality rating from cost service Good Effective date of cost data 12/12 1,456 Sq.Ft.@$ 88.57 =$ 128,958 Comments on Cost Approach(gross living area calculations,depreciation,etc.) Reproduction cost for the subject is calculated by utilizing information provided in the kj Marshall&Swift Residential Cost Handbook. Cost information provided by local area Garage/Carport 660 Sq.Ft.@$ 25.31 =$ 16,705 contractors and market participants is incorporated if available. The expected economic 287,259 life of the subject is 60 years. Total Estimate of Cost-New $ V. Less Physical Functional External Depreciation 9,566 =$( 9,566 ) Depreciated Cost of Improvements .. . . _$ 277,693 Ua".. "As-is"Value of Site Improvements =$ 10,000 Estimated Remaining Economic Life(HUD and VA only) 58 Years Indicated Value by Cost Approach =$ 347,693 " nta'� y :,� ",.�k n �.pryr a n �. 1 V k� �. v ,.ag�,,.�� , � � ''�.a �x�,� >��` 1,a1 1l� j• ,.2s ��,xiSr `,.,.A'\.�r cf�a.�}i ir?�i f ,. N k ''7 '17 Z1' .aa'a'v, 2.1�: .. � E n d::. , a 3rn �s�• . Estimated Monthly Market Rent$ 0 X Gross Rent Multiplier 0 =$ 0 Indicated Value by Income Approach Summary of Income Approach(including support for market rent and GRM) �. . 1 -; ✓ .:.. .-,^�. ,j g...y.,�, a'k..n , M-..ya',a.X}1,yam..'.a +c A,- .�,...,o-. r,�i;3 Is the developer/builder in control of the Homeowners'Association(HOA)? ❑Yes ❑No Unit type(s) ❑Detached ❑Attached ?0 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 Total number of units Total number of phases Total number of units sold Total number of units rented Total number of units for sale Data source(s) Was the project created by the conversion of existing building(s)into a PUD? El Yes ❑No If Yes,date of conversion • Does the project contain any multi-dwelling units? ❑Yes ❑No Data source(s) Nj Are the units,common elements,and recreation facilities complete? ❑Yes ❑No If No,describe the status of completion. (J Are the common elements leased to or by the Homeowners'Association? ❑Yes ❑No If Yes,describe the rental terms and options. Describe common elements and recreational facilities ~uj Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 3 of 6 Fannie Mae Form 1004 March 2005 Al Ready Uniform Residential Appraisal Report F1,e# o52-7584203 This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including a unit in a planned unit development(PUD).This report form is not designed to report an appraisal of a manufactured home or a unit in a condominium or cooperative project. 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 this 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 to 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. 6.The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 4 of 6 Fannie Mae Form 1004 March 2005 Al Ready 3325481374 Uniform Residential Appraisal Report File# 052-7584203 APPRAISER'S CERTIFICATION:The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 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 appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. I identified the lender/client in this appraisal report who is the individual,organization, or agent for the organization that ordered and will receive this appraisal report. 2005 UAD Version 9/2011 Page 5 of 6 Fannie Mae Form 1004 March 2005 Freddie Mac Form 70 March Al Ready i I 33254513/4 Uniform Residential Appraisal Report File # 052-7584203 21.The lender/client may disclose or distribute this appraisal report to:the borrower; another lender at the request of the borrower;the mortgagee or its successors and assigns; mortgage insurers;government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state,the District of Columbia, or other jurisdictions;without having to 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 CERTIFICATION: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. APPR� 1 , h SUPERVISORY APPRAISER(ONLY IF REQUIRED) n Signature Signature Name Michele McCarty Name Company Name TSI Appraisal Service Company Name Company Address 662 Woodward Ave Company Address Detroit MI 48226 Telephone Number (888)729-6339 Telephone Number Email Address MicheleMcCarty@tsiappraisal.com Email Address Date of Signature and Report 03/08/2014 Date of Signature Effective Date of Appraisal 03/06/2014 State Certification# State Certification# 100036382 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 12/31/2014 SUBJECT PROPERTY ADDRESS OF PROPERTY APPRAISED ❑ Did not inspect subject property 2655 Meadow Ln ❑ Did inspect exterior of subject property from street Mead CO 80542 Date of Inspection APPRAISED VALUE OF SUBJECT PROPERTY$ 293,000 ❑ Did inspect interior and exterior of subject property LENDER/CLIENT Date of Inspection Name TSI Appraisal Services COMPARABLE SALES Company Name Quicken Loans ❑ Did not inspect exterior of comparable sales from street Company Address 1050 Woodward Ave Detroit MI 48226 ❑ Did inspect exterior of comparable sales from street Email Address Date of Inspection Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 6 of 6 Fannie Mae Form 1004 March 2005 Al Ready i fr_ - 0 d1 -...!.:1..._:".. - cr-' k...c..). , Oo - ,¢ ') kN. v .4 ....z0 ),. I CO i ----0 y LI cs:o �, o � r...• di.) V ,tai 15 2 O a° O 4• Hello