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<br /> <br /> <br /> <br /> <br /> <br />L~ <br /> <br /> <br />1 <br /> <br /> <br /> <br />J <br />1 <br />r <br /> <br />m 1992 -American Society of Farm Managers and Rural Appraisers, Inc. <br />Robert H_ Randle Aooralsal Reoort # 0194TEMP <br />Sales.Cornparison Approach . <br /> Sole Dete Sale # PI0188 Sele # PI0193 Sele # PIOZBB Sale # P10388 Sele # P2059 <br />g. Grantor (Seller) LB our owland cMurtry uindt <br />s Grantee (Buyer) uindt cBee empel hompson Springer <br />1 Date 6 88 4 92 10 88 11 88 8 92 <br />e EN. Size 825.29 235.00 109.50 192.00 569.00 235.0 <br />' Sale Price $ 115150 $ 104000 $ 96000 $ 300000 $ 17625 <br />D Fin/CondAdj o.oox o o.oox o o.oox o o.cox a o.oox o <br />a <br />t. .. CEVPrice $ 115150 $ 104000 $ 96000 $ 300000 $ 17625 <br />a Multiplier 0.0 0.0 0.0 0.0 0. <br /> Ex enseRatio 25.8 26.9 20.6 30.8 25. <br /> Tne ApPnINr hN eaed moN nuM NIN N elmllar Pmgrty m the ableN a coneltlertl qeN In the mar\et mNyNe. TM deapapaN allow Ineludn \ tlelbr <br /> tlJYtP11eM M1IIeCang mend naCaOa IO 1110N Ibme N elgamNM YRlaaOn aenMen ale \YEJeOt L 1a\ NIN tlOCUmelltetl. VaNn NgnMNM soma an eugnOr <br /> ro ale pnp\rry aPDnnetl, \ npatlv\ rluNmeM b aPP11W. m me aam a Imerlor, a DeetYVa \tlJu\en\M b \pplletl. Thu\, eecn Nb b atlluertl ror me <br /> menunble tlleelmllaltl\e a aeon eels Pretlueing • eegreb value eetlmab. Tne Indlratlon\ hom eecn NI\ N Olen rNOMlletl Inb one Intlloetlon o1 velu\ ror <br /> qle \PDresh. <br /> Sale# soasECT PI0188 I0193 I0288 I0388 I0593 <br /> Price/ACRE 490 950 500 52 750 <br /> LAND AND BUILDING ADJUSTMENT <br /> Land Mix Adjust. -90 -242 -86 -43 -169 <br /> Building Mix AdJ. 0 0 0 0 0 <br /> CEV Subtotal 400 708 414 484 581 <br /> TIME ADJUSTMENT <br /> Time/Date Sale 212 -0 199 225 -0 <br /> TimeAdj.'dPrice 612 708 613 709 581 <br />S' OTHER ADJUSTMENTS <br />8 ~ Effective Size 825.29 235 ............._109:5 ..........................._109:5 569 235 <br />l ADJUSTAEtrT 0 0 0 0 0 <br />~e~ Condition Av <br />_........8 ........................................ v <br />._.......................-........3i.. Averse <br />.........---.....................Q_.. BinWd J <br />.......................................... wars a <br />_......................-....6.... air <br />... __ __.-..__...... <br /> AD.IUenAENT 0 0 75 0 50 <br /> <br />C Terrain ... i-avel ........ ................. ...........................loPiny. ........._............_Level. ............................_Level. -......................--_Level. .......................... °.E!n..8. <br /> ADJUBTIAEIR 50 U U O 50 <br /> Fnencing .......... <br />........................... <br />....... <br />' ..... _......................as ............. _ .............. s __._.......------... .........._S.h <br />. <br />......................-. ...--.............'............._s <br />. m ADJUS <br />T/AENT 0 0 0 ~ 0 <br /> <br />~' P ' <br />LACHIIOn ......_ood ....... ................. ................................ood ........ood <br />................~. ood <br />......,._.--.......---...... ood <br />.................__..............- ood <br />......................................, <br />. <br />a' ADJUSTa1ENT () 0 0 0 0 <br />~. r ~ Net Ad ustments 172 -242 188 182 b9 <br />1 Adluated Prlee ~ 662 70e 688 709 6B7 <br />s , Anelymla/C•omrnentm: (Discuss positive & negative aspects of each sale which may oihenvise affect value). <br />o~ ~ All of the sales were adjusted for land mix with the calculations shown on fol loving page. The time <br />. A ~ adjustment vas obtained from Sale gP10188 and pP10593. These soles were of the same irrigated lend. The <br />8 ~ first sale was in 1988 (which vas the low period for land values in the area) end 7992 (a period in which <br /> land values rebounded). the percentage vas applied to sales NP10288 and gP10388 which were sales of of <br /> Land under the Buffalo Ditch. The land ownership under the Buffalo is very stable with current sales <br /> unavaiLble. Lend prices in general have increased in this area. AlL of the comparables are similar to <br /> the subject with few adjustments necessary. <br /> Sales Comparison Approach Summary: <br /> Pro art Basis ra e <br />P Y ( ng) ............ ; ssz to ; log <br /> UnR Basis:......... $ see / X ezs.2s = $ ss7BOO Sales Comparison Conclusion: <br /> Multiplier Basis: $ o X o.oo (MuRiple) _ $ o $ 568, 000 <br />This brm muN be mmplNSd by a prolasslond eppralaer, who should ddermine 11s auaebllity for specmc eppllWlon. The goons vfro hew conldbule0 to the tle»IOpmsM or <br />1 publhhing of thh loan end iha ASFMRA male no raprefaniNlOne or wertentiaa N to Its rullebilly or uN; they ahdl not M liable for any arms or mlaropreaenlNione or for ineldentld, <br />conaaeueMld, a any other tlunegs resuning hom the Nmbhing, wmplatlon, or uN at tnls tarts. The ASFMR4 lscommantla Ihd Iha lgg2 Unaorm Agdcutlurd Apprded Pepon <br />p1AAR) GuldsbooY be uastl for complNlan of ihb form npod. ChengN to This lortn may be made b'/ the ASFMPA d any tlm\, wilhoN naloe. The'Sallent Fact Page', when u»d Y o <br />date summery Nperetalyfmm me UPAR gckags, la not to b wndrved u en epprdaal. <br />Page 9 of 12 <br /> <br />