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<br />1:1. <br />~B <br />~c: <br />o~ <br />e-Q) <br />0""" <br />(,)~ <br />.5 :>, <br />(1).0 <br />.-- <br />-(,) <br />C<tl <br />Q).... <br />ec <br />as <br />OQ) <br />1:I.c: <br />(I)..... <br />'-0 <br />~:s <br /> <br />Comments on Comparable Sales <br /> <br />Ale No 030734 <br /> <br />8WGlH\!{/CUent Vie QUINl' <br />pmnArtv Address 35997 HIGHWAY 6 <br />Citv HILLR05E <br />Lender vie QUINT <br /> <br />Countv WASHINGTON <br /> <br />Stale CO <br /> <br />Z1nCodeB0733 <br /> <br />Is in researching the Hillrose area marketplace through the MLS, the county assessor's office and my <br />personal files, I found the following five comparables to be the most viable indicators of the market value <br />opinion for the subject property. The subject is located adjacent to the Washington and Morgan County <br />line; therefore I have utilized sales from Washington County, Morgan County and also Logan County in the <br />perfonnance of this appraisal. <br /> <br />No two properties are exactly alike in this neighborhood, therefore it was necessary to slightly expand <br />comparable selection parameters in researching the marketplace for comparable sales. No one sale is <br />exactly similar to the subject, however, with pmjlOI adjustments and eonsideration, all llve comparables <br />adequately show the subject marketplace. Adjustments are calculated from market abstraction and are not <br />directly related to cost <br /> <br />Comparable #5 is an active listing in the immediate subject neighborhood, I'm aware this is not a closed <br />sale, however, I consider this property to be part of the overall marketplace, and has been included as <br />additional supporting documentation. This property does appear to be slightly overpriced, therefore an <br />adjustment of minus $10,000 was made. <br /> <br />Although the subject site size is slightly superior to that of each of the comparables, the overall site <br />contributory value of subject and each of the comparables is considered to be near equal and no adiu-~tment~ <br />were warranted. <br /> <br />Both comparables #1 and #2 are considered to be inferior to the subject in overall condition, warranting <br />adjustments of plus $5,000 to each. Comparables #3, #4 and #5 all have low maintenance exterior siding, <br />being superior to the all frame siding of subject, which warranted adjustments of minus $3,000 to each. <br /> <br />The subject is superior to each ofthe comparable sales in basement square footage and finish. The 100% <br />finished basement of subject is considered to have a contributory value of $1 0 per square foot or $ I 0,000 <br />warranting positive adjustments to all five comparables. <br /> <br />Additional adjustments were warranted for the variances in amenities, including garages and shop <br />buildings. The 860 square foot garage shop building of subject is considered to have a contributory value <br />of $8,500, while a typical garage has a value of$2,500 per car space. <br /> <br />After all adjustments are made, the indicated value for subject ranges from a low of$104,000 to a high of <br />-#1, #2 and II) a1(:' cow,.~dl;1~ tu b~-tfrn-tfR5St Slll1llar to subject In overall desirability <br />therefore a value of$IIO,OOO has been reconciled. <br /> <br />After reviewing these five adjusted comparables, the total marketplace and all facts the "As Isn estimated <br />market value opinion as of August 1,2003 is $110,000. . <br /> <br /> <br />Signature <br />Name ROBERT w. PENNINGTON <br />Date Signed AUGUST 2 2003 <br />Slate Certification # CR40012Q45 <br />Or Slate license # CERTIFIED RESIOENllAL APPRAISER <br /> <br />SIgnature <br />"am. <br />Date Signed <br />state~SlateCertifjcation# <br />Slale~OrstateUr:ense# <br /> <br />s"'. <br />State <br /> <br />U.S. Appraisal Services of Colorado 19701 842.2230 <br />Form TADD2 - ''TOTAL for WIndows' appraisal software by a la mode, inc. -1-BOO-AlAMODE <br />