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<br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />SALES COMPARISON APPROACH TO VALOE <br /> <br />The most viable approach to value is the sales comparison approach. This approach is more <br />applicable than say the cost approach since the majority of value in the cost approach is <br />determined through the sales comparison analysis and the sales comparison approach is more <br />applicable than the income approach due to the very low direct capitalization rates that can <br />substantially influence a determination of value by a very small variance in capitalization rates. <br /> <br />The comparable sales used are listed in the order of the most recent to the oldes!. <br /> <br />- <br /> <br />15 <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />SALE NUMBER <br /> <br />State: Colorado County: Grand <br />Grantor: Three Bar Three Ranch. LLC <br />Date of Sale: 1/24:2006 <br />Recorded: Grand County <br />Instrument: Warranty Deed <br />Deeded Acres: <br />Capacity: <br />Terms: Cash to Seller <br />Water Rights: 2.5 cfs Long Gulch., Permit for Spacek Reservoir - 64 ac ft, not constructed <br />Location: About 20 miles southeast of Krcmmling in the Williams Fork Area <br />Legal Description: TIS. R76W in Sections 22.23.& 27 <br />Tax Schedules: <br /> <br />Improvements: <br />Dwelling <br />Barn <br />Utility Shod <br />Bunk Ilousc <br /> <br />Totallmprovcmcnls <br /> <br />u.nd Chlssifintion <br />Irri~atcd Mcado~ <br />Irr. PaSlun! <br />Mountain Pasture <br />Foothills Pasture <br />TolaI Lond <br /> <br />Reep No: 2006000875 <br /> <br />640 MIL <br />50 AU <br /> <br />Err Age <br />30 <br />30 <br />40 <br />40 <br /> <br />- <br /> <br />- <br /> <br />- <br /> <br />[con <br /> <br />Zonil1g: Forestry & Open <br />Grantee: Baltle Creek Holding. LLC <br />Verified By: County Record, Broker, Appraisal File <br />Book: xx Page: xx <br />Sales Price: $2.850.000 <br />Price Per Acre: $4.453 <br />Price Per AU $57000 <br /> <br />Rem <br />Lire <br />30 Yr <br />30 Yr <br />20 Yr <br />20 Yr <br /> <br />Coot. Value <br />$130.938 <br />$24.750 <br />$3.663 <br />$2.772 <br /> <br />Sq.Ft. <br />2095 <br />1980 <br />660 <br />240 <br /> <br />Depreciation <br />Phys Funct <br />50% <br />50% <br />67% <br />67%, <br /> <br />$162.123 <br /> <br />Comment: Small fCI.:rcalionul ranch 1000:aled in the Williams Fork Valley. L()ng limc uwncrship hy ahs~lltce owners and with lhe <br />death of one oftht' parlners, properly came available for sale. Very scenic mounlain property with one mile ofwesl huundary <br />hnrdermg US FOn.'Sl Service. Smull slream Battle Creek runs through the propcrty. Approximately halfofthe property is subject to <br />a conservation easemcnt which basically cncompasses thc meadow land area. Excellent big gamc habitat. <br /> <br />RCN/SF RCN <br />$125 $261.875 <br />$25 $49.500 <br />$15 $9.900 <br />$35 $8.400 <br /> <br />Al.:rcs <br />60 <br /> <br />580 <br />