Uniform Residential Appraisal Report - Granicus
38
Uniform Residential Appraisal Report File No. 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. Property Address City State Zip Code Borrower Owner of Public Record County Legal Description Assessor's Parcel # Tax Year R.E. Taxes $ Neighborhood Name Map Reference Census Tract Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month Property Rights Appraised Fee Simple Leasehold Other (describe) Assignment Type Purchase Transaction Refinance Transaction Other (describe) Lender/Client Address 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). SUBJECT 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. 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. CONTRACT Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use % Note: Race and the racial composition of the neighborhood are not appraisal factors. Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit % Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit % Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family % Neighborhood Boundaries High Commercial % Pred. Other % Neighborhood Description Market Conditions (including support for the above conclusions) NEIGHBORHOOD Dimensions Area Shape View Specific Zoning Classification Zoning Description Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe) Is the highest and best use of the 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 Gas Sanitary Sewer Alley FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date 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. SITE GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/condition INTERIOR materials/condition Units One One with Accessory Unit Concrete Slab Crawl Space Foundation Walls Floors # of Stories Full Basement Partial Basement Exterior Walls Walls Type Det. Att. S-Det./End Unit Basement Area sq. ft. Roof Surface Trim/Finish Existing Proposed Under Const. Basement Finish % Gutters & Downspouts Bath Floor Design (Style) Outside Entry/Exit Sump Pump Window Type Bath Wainscot Year Built Evidence of Infestation Storm Sash/Insulated Car Storage None Effective Age (Yrs) Dampness Settlement Screens Driveway # of Cars Attic None Heating FWA HWBB Radiant Amenities WoodStove(s) # Driveway Surface Drop Stair Stairs Other Fuel Fireplace(s) # Fence Garage # of Cars Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars Finished Heated Individual Other Pool Other Att. Det. Built-in Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe) Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade Additional features (special energy efficient items, etc.). Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe. Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe. IMPROVEMENTS Page 1 of 6 Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005 Produced using ACI software, 800.234.8727 www.aciweb.com 1004_05UAD 12172013 UAD Version 9/2011 061408024M Appraisal Report DOM 30; Contingent Other 07/09/2014 $185,900 IMLS #98561117 days on market 30; See attached "Hotsheet History" for subject's listing history. X PO Box 500, Boise, ID 83701-0500 City of Boise HCD X X 0 0 X 0024.10 16/001 Capital Manor 2,764 2013 R1280540155 Lot 8 Block 3 Capital Manor Sub #5 Ada Federal National Mortgage Association City of Boise HCD 83704-4364 ID Boise 3655 N Rugby Dr $0;;No financial assistance provided. X Assessor X 08/12/2014 181,000 Arms length sale;According to the purchase agreement provided to the appraiser, the current pending sale is set at $181,000. X See attached 1004mc "Market Conditions Addendum to the Appraisal Report". The subject is located in an immediate neighborhood of other single family homes similar to the subject in quality, size, and value. Homes are typically of average price and quality. Services are nearby. The subject is located in an area which is proximal to retail, restaurants, grocery outlets and businesses, both private and public. 10 10 80 39 50 10 187 325 150 North to W Chinden Blvd, South to W Fairview Ave, East to N Cole Rd, and West to N Cloverdale Rd. X X X X X X The subject has unused pool that is in poor condition due to neglect. The pool was given no value in the appraisal report. X X 02/19/2003 16001C0168G X X None X Asphalt X X X X X X Single Family Residential R-1C N;Res; Rectangular 9148 sf Approx 95'X97'X95'X97' X See attached addendum. X C4;No updates in the prior 15 years;The subject is a proper improvement for the area. Physical Depreciation is limited due to normal wear and tear on the systems of the dwelling. The floor plan is functional. No Functional Depreciation noted. The subject utilities were not on or operational at the time of the inspection. The subject does not have a stove in the kitchen or a sink and no water heater. See attached addendum. 1,644 2.0 3 6 X 1 X 2 X Concrete 3 X Waterprf/Avg Vinyl/Cpt/Avg Wood/Avg Drywall/Avg Lam/Cpt/Stn/Avg None None Cvrd X Cvrd X Wood X 2 X 0 Yes/Avg + Thermal/Avg + Vinyl/Avg + Alum/Avg C Shingle/Avg Brk/Mtl/Avg Concrete/Avg X Gas X 84 1644 X X 20 1975 Ranch w/BG X X 1 X
Transcript of Uniform Residential Appraisal Report - Granicus
Uniform Residential Appraisal Report File No.
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.
Property Address City State Zip Code
Borrower Owner of Public Record County
Legal Description
Assessor's Parcel # Tax Year R.E. Taxes $
Neighborhood Name Map Reference Census Tract
Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month
Property Rights Appraised Fee Simple Leasehold Other (describe)
Assignment Type Purchase Transaction Refinance Transaction Other (describe)
Lender/Client Address
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).
SU
BJ
EC
T
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.
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.CO
NT
RA
CT
Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use %
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit %
Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit %
Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family %
Neighborhood Boundaries High Commercial %
Pred. Other %
Neighborhood Description
Market Conditions (including support for the above conclusions)
NE
IGH
BO
RH
OO
D
Dimensions Area Shape View
Specific Zoning Classification Zoning Description
Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)
Is the highest and best use of the 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
Gas Sanitary Sewer Alley
FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date
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.
SIT
E
GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials/condition INTERIOR materials/condition
Units One One with Accessory Unit Concrete Slab Crawl Space Foundation Walls Floors
# of Stories Full Basement Partial Basement Exterior Walls Walls
Type Det. Att. S-Det./End Unit Basement Area sq. ft. Roof Surface Trim/Finish
Existing Proposed Under Const. Basement Finish % Gutters & Downspouts Bath Floor
Design (Style) Outside Entry/Exit Sump Pump Window Type Bath Wainscot
Year Built Evidence of Infestation Storm Sash/Insulated Car Storage None
Effective Age (Yrs) Dampness Settlement Screens Driveway # of Cars
Attic None Heating FWA HWBB Radiant Amenities WoodStove(s) # Driveway Surface
Drop Stair Stairs Other Fuel Fireplace(s) # Fence Garage # of Cars
Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars
Finished Heated Individual Other Pool Other Att. Det. Built-in
Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)
Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade
Additional features (special energy efficient items, etc.).
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe.
Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe.
IMP
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Page 1 of 6Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005Produced using ACI software, 800.234.8727 www.aciweb.com
1004_05UAD 12172013UAD Version 9/2011
061408024M
Appraisal Report
DOM 30; Contingent Other 07/09/2014 $185,900 IMLS #98561117 days on market 30; See
attached "Hotsheet History" for subject's listing history.
X
PO Box 500, Boise, ID 83701-0500City of Boise HCD
X
X
00X
0024.1016/001Capital Manor
2,7642013R1280540155
Lot 8 Block 3 Capital Manor Sub #5
AdaFederal National Mortgage AssociationCity of Boise HCD
83704-4364IDBoise3655 N Rugby Dr
$0;;No financial assistance provided.
X
AssessorX08/12/2014181,000
Arms length sale;According to the purchase agreement provided to the appraiser, the current pending sale is set at $181,000.
X
See attached 1004mc "Market Conditions Addendum to the Appraisal Report".
The subject is located in an immediate neighborhood of other single family homes similar to the subject in quality,
size, and value. Homes are typically of average price and quality. Services are nearby. The subject is located in an area which is
proximal to retail, restaurants, grocery outlets and businesses, both private and public.
10
10
80
39
50
10
187
325
150
North to W Chinden Blvd, South to W Fairview Ave, East to N Cole Rd,
and West to N Cloverdale Rd.
X
X
X
X
X
X
The subject
has unused pool that is in poor condition due to neglect. The pool was given no value in the appraisal report.
X
X
02/19/200316001C0168GXX
None
XAsphalt
X
X
X
X
X
X
Single Family ResidentialR-1C
N;Res;Rectangular9148 sfApprox 95'X97'X95'X97'
X
See
attached addendum.
X
C4;No updates in the prior 15 years;The subject is a
proper improvement for the area. Physical Depreciation is limited due to normal wear and tear on the systems of the dwelling. The floor
plan is functional. No Functional Depreciation noted. The subject utilities were not on or operational at the time of the inspection. The
subject does not have a stove in the kitchen or a sink and no water heater.
See attached addendum.
1,6442.036
X
1X
2X
Concrete
3X
Waterprf/Avg
Vinyl/Cpt/Avg
Wood/Avg
Drywall/Avg
Lam/Cpt/Stn/Avg
NoneNone
CvrdXCvrdX
WoodX2X
0
Yes/Avg +
Thermal/Avg +
Vinyl/Avg +
Alum/Avg
C Shingle/Avg
Brk/Mtl/Avg
Concrete/Avg
X
Gas
X
84
1644
X
X
20
1975
Ranch w/BG
X
X
1
X
Uniform Residential Appraisal Report File No.
There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .
There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .
FEATURE SUBJECT
Address
Proximity to Subject
Sale Price $
Sale Price/Gross Liv. Area $ sq. ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION
Sale or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade Total Bdrms. Baths
Room Count
Gross Living Area sq. ft.
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total)
Adjusted Sale Price
of Comparables
COMPARABLE SALE NO. 1
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 2
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 3
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
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)
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)
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
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
Effective Date of Data Source(s)
COMPARABLE SALE NO. 1 COMPARABLE SALE NO. 2 COMPARABLE SALE NO. 3
Analysis of prior sale or transfer history of the subject property and comparable sales
Summary of Sales Comparison Approach.
Indicated Value by Sales Comparison Approach $
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Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $
This appraisal is made "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,
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 $
as of , which is the date of inspection and the effective date of this appraisal.
RE
CO
NC
ILIA
TIO
N
Page 2 of 6Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005Produced using ACI software, 800.234.8727 www.aciweb.com
1004_05UAD 12172013UAD Version 9/2011
061408024M
Appraisal Report
475,000150,00018
325,000165,00013
NoneMiscellaneous
Capital ManorSubdivision
Cvrd Patio
2ga1cp3dw
See Comments
FWA C/Air
Average
1rr0br1.0ba4o
1644sf1380sfin
1,64420
2.036
C4
39
Q4
DT1;Ranch w/BG
N;Res;
9148 sf
Fee Simple
N;Res;
110.10
181,000
Boise, ID 83704-4364
3655 N Rugby Dr
183,48016.1
16.1
25,480X
None
0Sherwood Park W
2,000Deck
2,0002ga2dw
See Comments
FWA C/Air
Average
01rr1br1.0ba2o
7,6001200sf1200sfin
8,8801,200
02.035
C4
39
Q4
DT1;Ranch w/BG
N;Res;
08712 sf
Fee Simple
5,000A;BsyRd;
0s05/14;c03/14
0FHA;5530
0REO
Assessor/IMLS/Files
IMLS#98538404;DOM 154
131.67
158,000
1.34 miles NW
Boise, ID 83704
5454 N Mitchell St
193,90010.6
7.7
13,900X
None
0Sherwood Park W
0Cvrd Deck
2,0002ga2dw
See Comments
FWA C/Air
Average
01rr0br1.0ba2o
14,500854sf854sfin
-2,6001,774
02.037
C4
041
Q4
DT1;Ranch w/BG
N;Res;
9148 sf
Fee Simple
N;Res;
0s05/14;c04/14
0Conv;5304
0ArmLth
Assessor/IMLS/Files
IMLS#98536734;DOM 187
101.47
180,000
0.97 miles NW
Boise, ID 83704
4933 N Sunderland Dr
177,40018.5
1.4
2,400X
-5,000Small Shop
0Sherwood Park E
2,000Patio
2,0002ga2dw
See Comments
FWA C/Air
Average
01rr2br1.0ba1o
7,4001209sf1209sfin
6,0001,344
02.025
-10,000C4
042
Q4
DT1;Ranch w/BG
N;Res;
011326 sf
Fee Simple
N;Res;
0s02/14;c01/14
0Conv;0
0ArmLth
Assessor/IMLS/Files
IMLS#98542295;DOM 17
130.21
175,000
0.21 miles NW
Boise, ID 83704
8700 W Pembrook Dr
IMLS System, Assessor (Idaho is a non-disclosure state)
X
IMLS System, Assessor (Idaho is a non-disclosure state)
X
X
08/11/2014
IMLS#0/Assessor
$0
06/27/2014
08/11/2014
IMLS#0/Assessor
08/11/2014
IMLS#0/Assessor
08/11/2014
IMLS#0/Assessor
184,000
Comparable sales used are judged to be the most similar, nearest recent sales available that allow
adequate comparison with the subject following a thorough search of the MLS system, Appraisal Files and Brokers. See addendum.
According to the IMLS System, the subject transferred by trustee's deed
to Bank of America NA on 06/20/2014 with the recorded price of $305,014, then transferred by Special Warranty Deed to Federal
National Mortgage Association on 06/27/2014. The price of the sale or transfer on 06/27/2014 is unknown. No other transfer or sale
history has been noted by the appraiser in the last 36 months--Idaho is a non-disclosure state. No other listings or transfers for the
comparables have been realized by the appraiser in the last 12 months--Idaho is a non-disclosure state.
08/11/2014
184,000
The electrical, plumbing and HVAC were not
operating at the time of the inspection.
X
See attached addendum.
00184,000
Ames Appraisal Inc.
Uniform Residential Appraisal Report File No.
FEATURE SUBJECT
Address
Proximity to Subject
Sale Price $
Sale Price/Gross Liv. Area $ sq. ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION
Sale or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade Total Bdrms. Baths
Room Count
Gross Living Area sq. ft.
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total)
Adjusted Sale Price
of Comparables
COMPARABLE SALE NO. 4
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 5
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 6
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
ITEM SUBJECT
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
Effective Date of Data Source(s)
COMPARABLE SALE NO. 4 COMPARABLE SALE NO. 5 COMPARABLE SALE NO. 6
Summary of Sales Comparison Approach
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Fannie Mae Form 1004 March 2005Freddie Mac Form 70 March 2005 Produced using ACI software, 800.234.8727 www.aciweb.com1004_05UAD 12172013
UAD Version 9/2011
061408024M
Appraisal Report
NoneMiscellaneous
Capital ManorSubdivision
Cvrd Patio
2ga1cp3dw
See Comments
FWA C/Air
Average
1rr0br1.0ba4o
1644sf1380sfin
1,64420
2.036
C4
39
Q4
DT1;Ranch w/BG
N;Res;
9148 sf
Fee Simple
N;Res;
110.10
181,000
Boise, ID 83704-4364
3655 N Rugby Dr
194,84020.2
-3.5
7,160X
None
0Combes Park
Cvrd Patio
2,0002ga2dw
See Comments
FWA C/Air
Average
01rr1br1.0ba0o
14,800840sf840sfin
-11,9602,242
-2,0002.148
-10,000C4
036
Q4
0DT1;Colonial w/BG
N;Res;
09583 sf
Fee Simple
N;Res;
0s06/14;c05/14
0Cash;0
0ArmLth
Assessor/IMLS/Files
IMLS#98554808;DOM 9
90.10
202,000
2.05 miles NW
Boise, ID 83713
11849 W Combes Park Dr
197,00019.5
19.5
32,100X
None
0Sherwood Park S
2,000Patio
2,0002ga2dw
See Comments
FWA C/Air
Average
01rr1br0.1ba1o
18,000676sf676sfin
6,1001,339
4,0001.036
C4
043
Q4
0DT2;Tri-Level w/BG
N;Res;
09583 sf
Fee Simple
N;Res;
0Active
0;
0Listing
Assessor/IMLS/Files
IMLS#98557427;DOM 69
123.15
164,900
0.33 miles NW
Boise, ID 83704
8830 W Westbrook Dr
206,36017.3
6.9
13,360X
None
0Stonybrook
Cvrd Patio
2,0002ga2dw
See Comments
FWA C/Air
Average
01rr1br1.0ba1o
19,400609sf609sfin
1,9601,546
2.036
-10,000C4
027
Q4
DT1;Ranch w/BG
N;Res;
07405 sf
Fee Simple
N;Res;
0Active
0;
0Listing
Assessor/IMLS/Files
IMLS#98560330;DOM 42
124.84
193,000
1.37 miles NW
Boise, ID 83704
4903 N Fieldcrest Pl
08/11/2014
IMLS#0/Assessor
$0
06/27/2014
08/11/2014
IMLS#0/Assessor
08/11/2014
IMLS#0/Assessor
08/11/2014
IMLS#0/Assessor
Uniform Residential Appraisal Report File No.
AD
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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)
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW
Source of cost data
Quality rating from cost service Effective date of cost data
Comments on Cost Approach (gross living area calculations, depreciation, etc.)
Estimated Remaining Economic Life (HUD and VA only) Years
OPINION OF SITE VALUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $
Dwelling Sq. Ft. @ $ . . . . . . . . . . . . = $
Sq. Ft. @ $ . . . . . . . . . . . . = $
Garage/Carport Sq. Ft. @ $ . . . . . . . . . . . . = $
Total Estimate of Cost-New . . . . . . . . . . . . = $
Less Physical Functional External
Depreciation = $ ( )
Depreciated Cost of Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $
"As-is" Value of Site Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $
INDICATED VALUE BY COST APPROACH . . . . . . . . . . . . . . . . . . . . . . = $
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INCOME APPROACH TO VALUE (not required by Fannie Mae)
Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income Approach
Summary of Income Approach (including support for market rent and GRM)
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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
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)
Was the project created by the conversion of an existing building(s) into a PUD? Yes No If Yes, date of conversion.
Does the project contain any multi-dwelling units? Yes No Data source(s)
Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion.
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.
PU
D IN
FO
RM
AT
ION
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Selection of a Q4 or Q5 should not be construed as a definitive statement by the appraiser that the subject and/or comparable
properties meet the minimum building code of the jurisdiction where the property is located. While an appraiser is expected to have
knowledge of the building code, the level of inspection as a result of the scope of work for the appraisal assignment is not sufficient in
and of itself to determine full compliance with an applicable building code.
At the request of the client, this appraisal report has been prepared in compliance with the Uniform Appraisal Dataset (UAD) from
Fannie Mae and Freddie Mac. The UAD requires the appraiser to use standardized responses that include specific formats, definitions,
abbreviations, and acronyms.
In the normal course of business, the appraiser attempted to obtain an adequate amount of information regarding the subject and
comparable properties. Some of the required UAD standardized responses, especially those in which the appraiser has not had the
opportunity to verify personally or measure, could mistakenly imply greater precision and reliability in the data than is factually correct
or typical in the normal course of business. Consequently, this information should be considered an estimate unless otherwise noted
by the appraiser.
Examples include condition and quality ratings, as well as comparable sales and listing data. Not every element of the subject property
was viewable, and comparable property data was generally obtained from third-party sources.
This appraisal was ordered in compliance with the Appraisal Independence Requirement "AIR" and mortgage letter 2009-29.
0
0
55
0
01,002
0Bsmt: 1644
01,644
35
The cost approach was not utilized because it is not necessary to
produce a credible result per the scope of work for the appraisal
assignment.
Opinion of site value is $47,000.
Site value is derived from one or more of the
following: land sales from MLS records, Appraisal Files, Tax Records, Developers, Builders, or the Extraction Method.
0
000
Uniform Residential Appraisal Report File No.
This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit; including aunit in a planned unit development (PUD). This report form is not designed to report an appraisal of a manufactured home or a unitin 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 ofassumptions 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 workto include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications ordeletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterationsto this appraisal report, such as those required by law or those related to the appraiser’s continuing education or membership in anappraisal organization, are permitted.
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and thereporting requirements of this appraisal report form, including the following definition of market value, statement of assumptionsand limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of theinterior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from atleast 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 ofthis 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 marketunder all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price isnot affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing oftitle from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informedor well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed forexposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangementscomparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creativefinancing 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 arenecessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readilyidentifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can bemade to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not alreadyinvolved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of thefinancing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing orconcessions based on the appraiser's judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser’s certification in this report is subject to thefollowing 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 titleto it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser 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. Thesketch 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 (orother data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified SpecialFlood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding thisdetermination.
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 ofhazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware ofduring the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has noknowledge 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.) thatwould make the property less valuable, and has assumed that there are no such conditions and makes no guarantees orwarranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering ortesting that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field ofenvironmental 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 satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will beperformed in a professional manner.
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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 thisappraisal report.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the condition ofthe 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 Practicethat were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at thetime 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 comparisonapproach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisalassignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwiseindicated in this report.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for saleof the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject propertyfor 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 thedate 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 homethat 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 subjectproperty 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 inthe 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 listingservices, 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 fromreliable 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, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I havenoted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence ofhazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject propertyor that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions inmy analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subjectproperty.
15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements 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 aresubject 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 prospectivepersonal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, myanalysis 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 oroccupants 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 conditionedon any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predeterminedspecific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or theattainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loanapplication).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied onsignificant real property appraisal assistance from any individual or individuals in the performance of this appraisal or thepreparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisalreport. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change toany 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 orderedand will receive this appraisal report.
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 marketparticipants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentalityof the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser’s orsupervisory appraiser’s (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed ordistributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or othermedia).
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22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain lawsand regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice thatpertain 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 anymortgage 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 aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisalreport containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if apaper 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 criminalpenalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section1001, 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’sanalysis, 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 theappraisal 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 andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.
5. If this appraisal report was transmitted as an “electronic record” containing my “electronic signature,” as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisalreport containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if apaper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER
Signature
Name
Company Name
Company Address
Telephone Number
Email Address
Date of Signature and Report
Effective Date of Appraisal
State Certification #
or State License #
or Other (describe) State #
State
Expiration Date of Certification or License
ADDRESS OF PROPERTY APPRAISED
APPRAISED VALUE OF SUBJECT PROPERTY $
LENDER/CLIENT
Name
Company Name
Company Address
Email Address
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature
Name
Company Name
Company Address
Telephone Number
Email Address
Date of Signature
State Certification #
or State License #
State
Expiration Date of Certification or License
SUBJECT PROPERTY
Did not inspect subject property
Did inspect exterior of subject property from street
Date of Inspection
Did inspect interior and exterior of subject property
Date of Inspection
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from street
Date of Inspection
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Boise, ID 83701-0500
PO Box 500
City of Boise HCD
No AMC
184,000
Boise, ID 83704-4364
3655 N Rugby Dr
08/14/2015
ID
CRA-2513
08/11/2014
08/15/2014
208-387-2637
Boise, ID 83713-1566
6149 N Meeker Pl Ste 110
Ames Appraisal, Inc
Mark Douglas Ames
Ames Appraisal Inc.
Uniform Appraisal Dataset Definitions File No.
Condition Ratings and Definitions
C1 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% newfoundation 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 extendedperiod 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 recentlyrepaired, 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.
*Note: The improvements represent a relatively new property that is well maintained with no deferred maintenance and little or no physical depreciation, or an older property that has been recently completely renovated.
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, maybe updated or recently rehabilitated. The structure has been well maintained.
*Note: The improvement is in its first-cycle of replacing short-lived building components (appliances, floor coverings, HVAC, etc.) and is being well maintained. Its estimated effective age
is less than its actual age. It also may reflect a property in which the majority of short-lived building components have been replaced but not to the level of a complete renovation.
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.
*Note: The estimated effective age may be close to or equal to its actual age. It reflects a property in which some of the short-lived building components have been replaced, and someshort-lived building components are at or near the end of their physical life expectancy; however, they still function adequately. Most minor repairs have been addressed on an ongoing
basis resulting in an adequately maintained property.
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 overall livability is somewhat diminished due to condition, but the dwelling remains useable and functional as a residence.
*Note: Some significant repairs are needed to the improvements due to the lack of adequate maintenance. It reflects a property in which many of its short-lived building components areat the end of or have exceeded their physical life expectancy but remain functional.
C6 The improvements have substantial damage or deferred maintenance with deficiencies or defects that are severe enough to affect the safety, soundness, or structural integrityof the improvements. The improvements are in need of substantial repairs and rehabilitation, including many or most major components.
*Note: Substantial repairs are needed to the improvements due to the lack of adequate maintenance or property damage. It reflects a property with conditions severe enough to affect
the safety, soundness, or structural integrity of the improvements.
Quality Ratings and Definitions
Q1 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 thestructure. 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.
Q2 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 residences constructed from individual plans or from highly modified or upgraded plans. The design features detailed, high-quality exteriorornamentation, high-quality interior refinements, and detail. The workmanship, materials, and finishes throughout the dwelling are generally of high or very high quality.
Q3 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 onan 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 are utilized and the design includes
adequate fenestration and some exterior ornamentation and interior refinements. Materials, workmanship, finish, and equipment are of stock or builder grade and may feature someupgrades.
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 orbasic 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 minimalconstruction 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 fullyfunctional, 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 meetexisting 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
The number of full and half baths is reported by separating the two values by a period. The full bath is represented to the left of the period. The half bath count is represented to the
right of the period. Three-quarter baths are to be counted as a full bath in all cases. Quarter baths (baths that feature only toilet) are not to be included in the bathroom count.
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Uniform Appraisal Dataset Definitions File No.
Abbreviations Used in Data Standardization Text
Abbrev. Full Name Appropriate Fields
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
AT Attached Structure Design(Style)
ba Bathroom(s) Basement & Finished Rooms Below Grade
br Bedroom Basement & Finished Rooms Below Grade
B Beneficial Location & View
BsyRd Busy Road Location
cp Carport Garage/Carport
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
Conv Conventional Sale or Financing Concessions
cv Covered Garage/Carport
CrtOrd Court Ordered Sale Sale or Financing Concessions
DOM Days On Market Data Sources
DT Detached Structure Design(Style)
dw Driveway Garage/Carport
Estate Estate Sale Sale or Financing Concessions
e Expiration Date Date of Sale/Time
FHA Federal Housing Authority Sale or Financing Concessions
g Garage Garage/Carport
ga Garage - Attached Garage/Carport
gbi Garage - Built-in Garage/Carport
gd Garage - Detached Garage/Carport
GR Garden Structure Design(Style)
GlfCse Golf Course Location
Glfvw Golf Course View View
HR High Rise Structure Design(Style)
Ind Industrial Location & View
Abbrev. Full Name Appropriate Fields
in Interior Only Stairs Basement & Finished Rooms Below Grade
Lndfl Landfill Location
LtdSght Limited Sight View
Listing Listing Sale or Financing Concessions
MR Mid-Rise Structure Design(Style)
Mtn Mountain View View
N Neutral Location & View
NonArm Non-Arms Length Sale Sale or Financing Concessions
op Open Garage/Carport
o Other Basement & Finished Rooms Below Grade
O Other Design(Style)
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
RT Row or Townhouse Design(Style)
RH Rural Housing - USDA Sale or Financing Concessions
SD Semi-detached Structure Design(Style)
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, Basement
Unk Unknown Date of Sale/Time
VA Veterans Administration Sale or Financing Concessions
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
w Withdrawn Date Date of Sale/Time
Woods Woods View View
Other Appraiser-Defined Abbreviations
Abbrev. Full Name Appropriate Fields Abbrev. Full Name Appropriate Fields
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ADDENDUM
Borrower: City of Boise HCD File No.: 061408024M
Property Address: 3655 N Rugby Dr Case No.:
City: Boise State: ID Zip: 83704-4364
Lender: City of Boise HCD
Addendum Page 1 of 5
Neighborhood BoundariesThese boundaries do not limit where comparable sales and/or active comparable listings can or will be utilized. Theseboundaries describe the immediate area and not the entire market area for the subject property.
Neighborhood DescriptionAda County is a county in the southwestern part of the U.S. state of Idaho. As of the 2010 Census, the county had apopulation of 392,365. The county seat and largest city is Boise, which is also the state capital. Other cities in the countywith over 10,000 residents include Meridian, Eagle, Kuna, and Garden City. Ada County is by far the state's largest inpopulation, containing more than one quarter of the state's residents, and contains its only county highway district; the AdaCounty Highway District (ACHD) has jurisdiction over all the local county and city streets, except for private roads and stateroads. Ada County is part of the Boise City-Nampa, Idaho Metropolitan Statistical Area. The Boise River flows through the northernportion of the county, and the northwest border is bounded by the foothills of the Boise Range mountains, the summits are inadjacent Boise County. The southwestern border of the county is bounded by the Snake River
Boise is the capital and most populous city of the U.S. state of Idaho, as well as the county seat of Ada County. Located onthe Boise River, it anchors the Boise City-Nampa metropolitan area. As of the 2010 Census, the population of Boise was205,671. It is also the 99th largest U.S. city by population. The 2012 U.S. Census Population Estimates that 212,303 peoplereside within the city. The Boise metropolitan area is home to about 616,500 people and is the most populous metropolitanarea in Idaho, containing the state's three largest cities; Boise, Nampa, and Meridian. Boise City is the third most populousmetropolitan area in the United States' Pacific Northwest region. The area's largest private, locally based, publicly tradedemployer is Micron Technology. Others include IDACORP, Inc., the parent company of Idaho Power, Idaho Bancorp, Boise,Inc., American Ecology Corp., PCS Edventures.com Inc. and Syringa Bancorp.
West Boise is home to Boise Towne Square Mall, the largest in the state, as well as numerous restaurants, strip malls, andresidential developments ranging from new subdivisions to apartment complexes. The Ada County jail and HewlettPackard's printing division are also located here. It is relatively the flattest section of Boise, with sweeping views of the BoiseFront. West Boise also borders the city of Meridian, Idaho.
Additional FeaturesThe dwelling appears to have a standard compliment of energy efficient items. these items are consistent with marketexpectations in the subject neighborhood for improvements of similar age, quality and price range. the energy efficient itemsinclude but are not limited to HVAC systems, windows, weather stripping, ect.
Physical Deficiencies or Adverse ConditionsExtraordinary assumptions presume as fact otherwise uncertain information about physical, legal, or economiccharacteristics of the subject property, or about conditions external to the property, such as market conditions or trends, orabout the integrity of data used in the analysis. Which if found to be false, could alter the appraiser's opinions orconclusions.
Homes built prior to 1978 may contain lead-based paint. The appraiser is not responsible for testing to determine if the paintsurfaces in the subject property are indeed lead-based.
Comments on Sales ComparisonThe comparable sales presented within this report are considered to be the best available to this appraiser at the time ofcomparison to the subject. Comparable sales information is based on mls and/or local government records. All comparablesales have been verified as closed by the mls and/or government records unless otherwise noted.
The comparables were selected because of there similarities in gross living area, age, bedroom and bathroom count, andneighborhood.
Adjustments relating to factors whose value tends to be more intangible and, therefore, are more difficult to measure withinthe market place are based heavily on the appraiser's skill at valuing such items as location, condition, quality ofconstruction, view, design, appeal, and common amenities such as car storage, bathrooms, covered porches/patios/decks,fireplaces, fencing, RV parking, pools, outbuildings, landscaping and sprinkler systems. These items may differ with size,price range and area. These adjustments are based on market data and/or extraction, logical analysis and the appraiser'sjudgement.
Unless otherwise specifically stated, items such as hot tubs, tv's and refrigerators are considered personal property and assuch were given no value in the final value opinion.
Proximity to subject: In an effort to utilize the most recent sales possible from the subject's market area, it becamenecessary to travel over one mile from the subject property into competing subdivisions for comparable sales that weresimilar in gross living area, design/style, acreage, and age. These sales remain within the subject's market area and standas strong indicators of the subject's market value.
Location: Comparable one is located on a busy road.
Time adjustments: No time adjustments necessary.
Site size: No site size adjustment was necessary due to the lack of added utility noted upon street inspection.
Design (Style): The appraiser was unable to utilize all of the same design styles of homes in the analysis. No considerablepreference for various design styles has been realized by the appraiser in the subject's market area at the time of theappraisal. It appears that the market values age, total GLA and utility more than Design (Style).
Condition: The adjustment represents both the approximate cost to bring the properties into conformity and to the market'sreaction to the condition and amount of upgrades/updates of the subject and/or the comparables.
ADDENDUM
Borrower: City of Boise HCD File No.: 061408024M
Property Address: 3655 N Rugby Dr Case No.:
City: Boise State: ID Zip: 83704-4364
Lender: City of Boise HCD
Addendum Page 2 of 5
The subject lacks comparables three, four, and six's superior updates; however, per UAD instructions, it did not qualify as aC5. The standardization of the condition and quality ratings makes in necessary to make adjustments between the subjectand comparables even though their UAD ratings are the same.
Comparables having more or less than 15% GLA of the subject property was unavoidable, this is due to the limited recentsales of similar style, similar age homes in the subjects market area. This is typical for the area.
Bath were adjusted at $2,000 for half baths.
Basement square footage was adjusted at $15.00 per square foot and at an additional $5.00 per finished square foot.
Energy efficient items: Based on the data collected the subject and comparables appear to have a similar compliment ofenergy efficient items that are consistent with market expectations for the age, quality and price range. No significantdifference between the subject and comparables existed; therefore, no adjustments for energy efficient items werewarranted.
Larger than normal adjustments exceeding the preferred range was unavoidable, this is due to the necessary adjustmentsand is typical for the area.
The value of the adjustments were derived through matched pairing or from market extraction.
Final ReconciliationThe sales comparison analysis provides the best indication of value for the subject under current market conditions. Thecost approach and the income approach were not utilized because they are not necessary to produce a credible result perthe scope of work for the appraisal assignment.
No personal property included in the opinion of value.
The appraiser has reviewed and compared the best available competing sales to the subject, selected the most appropriateof those sales, and then individually compared them to the subject. The final opinion of value from the mid-range wasselected and is supported by the comparables.
I have been appraising land, single family, multi-family and high dollar properties in this area for 8 years. I have theknowledge and experience to complete this specific appraisal assignment competently as outlined in the competency ruleaccording to the uniform standards of professional appraisal practice.
Data source for the area that was used in the report is the "Intermountain Multiple Listing Service."
Additional CommentsAppraisal Addendum:
This report contains addenda that provide important information and are to be considered an integral part of the appraisaldocument. Special attention should be afforded to the "Scope of the Appraisal", and "Inspection Addendum." The appraiseralways recommends a professional home inspection on all properties.
Format:
This appraisal is a complete appraisal report presented in a format designed to be in compliance with the reportingrequirements of the Uniform Standards of Professional Appraisal Practice recent addition (hereafter referred to as USPAP)as set forth in Standards Rule 2-2(b). In this format only the discussion of the data, reasoning, and analysis that were usedin the documentation has been retained (subject to USPAP record keeping requirements of the ethics provision) in theappraiser's file/workplace. The format and extent of information provided in this report are specific to the needs of theintended user. The appraiser retains no responsibility for unauthorized use of this appraisal.
Purpose:
The intended use of this report is to provide an opinion of market value for the purpose of making lending decisions. Theintended user of this report is the lender listed as client on the first page of the appraisal form. Use by any other party is notauthorized.
Proposed and Properties Under Construction:
Although the subject property is being appraised as of the current date (see "date of value"), the improvements do not existin a finished, habitable form. For this reason, the appraisal is based on a "hypothetical condition", this being that thecompleted structure exists as the of the date of value when in fact it does not. This is typical of residential construction anddoes not, in itself, create a valuation problem, as the structure should be completed within 6 to 12 months. An "extraordinaryassumption" also exists, in that it must be assumed that the improvements will be constructed in accordance with the plansand specifications provided and that good quality materials and workmanship will be employed. Deviation from the facts thatthis assumption is based on could have a significant impact on the value of the property as completed.
Property Rights Being Appraised:
The property rights being appraised are "Fee Simple". The appraisal is based on surface rights only, being consistent withcustomary residential use. The determination or speculation by the appraiser concerning the impact, positive or negative,from the existence of mineral/oil/gas rights/leases associated with the subject property and the surrounding area (past,present or future), as well as other sub-surface rights including water, was not considered in this analysis. Speculation ofsuch is not within the agreed and customary scope of appraisal for residential lending purposes. It should be noted, any
ADDENDUM
Borrower: City of Boise HCD File No.: 061408024M
Property Address: 3655 N Rugby Dr Case No.:
City: Boise State: ID Zip: 83704-4364
Lender: City of Boise HCD
Addendum Page 3 of 5
such leases or sub-surface rights by other parties were not reported to the appraiser to exist, nor evaluated, and a separateassignment would be necessary for such analysis if deemed applicable. This appraiser is not competent to perform ananalysis or develop a value of any air or subsurface rights. This is a known encumbrance to the fee simple absolute which isalso assumed of all sales and rental property used in the developed and reported approaches to value. This limitation to thesurface rights only is not considered detrimental to the marketability or value of the subject as all comparisons, analyses andapproaches developed and reported carry a similar encumbrance.
Scope of the Appraisal:
The "scope" of this residential appraisal assignment is to review the plans and specifications of the subject property,research applicable data, analyze the data, arrive at an estimate of the "highest and best use" of the property, employ thegenerally accepted approaches to value that are applicable (see below), and arrive at a final estimate of the property's valuesubject to the "assumptions and limiting conditions" and "certifications" attached.
Site Comments:
The subject property is situated on a typical site for the neighborhood. Adequate utilities are available. No adverseeasements were noted at the time of inspection. The functional utility of the site is such that it meets the requirements forresidential use.
Improvements:
The subject improvements, when completed, appear to meet the expectations of the market in this value sector. Nofunctional problems were noted in the design and construction during the appraiser's review of the plans. Marketability isconsidered to be typical for this type of property.
Highest and Best Use (Vacant):
Although the appraiser has not been provided with a soil or geological survey of the site, it appears to be adequate forresidential use (based on the appraiser's cursory inspection). Size, location and offsite infra-structure also appear adequate.Based on a preliminary review of the zoning regulations, single family usage appears to be the major permitted use. Saidresidential use is also considered to be economically feasible given current market conditions and will return the maximumproductivity to the site in the current market. Therefore, the proposed single family residential use is considered to be the"highest and best use" of the site.
Highest and Best Use (Improved):
The subject improvements were designed and will be constructed with single family residential usage as the primaryintended use. Said use is currently legally permitted and under current market conditions represents a financially feasibleuse which will return the maximum productivity to the improved property. Therefore, and in consideration of the aboveanalysis, the "highest and best use" of the subject "as improved" is the proposed residential use.
Site values are estimated based on sales of similar sites where available, or the market extraction method. The costapproach estimates the "replacement cost new" of the improvements. This together with the estimated site value providesan indicated value for the property. Cost data is derived from the Marshall Valuation Service cost indicators and modified bylocal experience (including actual construction costs from local builders). Depreciation, if noted, is the loss in value fromfunctional and external deficiencies.
Income Approach:
The income approach is not typically used unless the subject property is rented, will be rented or is multi-family (2-4 unit)property. In these instances the necessary analysis and conclusions are provided in attached forms of single familyproperties (forms 1007 and 216) or as part of the 2-4 family form (1025).
Sales Comparison Approach:
In this analysis, the subject property is compared to three (or more) similar properties that have recently sold. Adjustmentsare made to the selling prices of the comparable properties based on its features, including size, quality and amenities, inorder to arrive at an indication of what it would have sold for providing it matched the subject's features. Typically theprimary unit of comparison is square footage (GLA), however, many features are adjusted for based on a per unit valuederived from market extraction. The comparables selected for this appraisal are considered to be the most similar andrecent available after a market search including the local mls system, and the appraiser's files. Subjective adjustments arethose relating to factors whose contribution value tends to be more intangible, and therefore more difficult to directly gagethrough market extraction. This type of adjustment is unavoidable, and based primarily on the appraiser's skill andexperience. Examples of this category of adjustment include location, quality of construction, condition and design andappeal.
Inspection Addendum:
The subject property was viewed by the appraiser for valuation purposes only. No inspection has been made other than acursory viewing by the appraiser to assist in valuing the property. The appraiser always recommends that a professionalhome inspection be obtained prior to the transfer of an interest in residential property.
The appraiser is not an expert in mold. If any party has any concerns, an environmental inspection is recommended.
Additionally, if prospective purchasers or lenders have any concerns in regards to zoning, encroachments, off-site factors,easements, access, or other similar factors, they should contact experts in those fields. Referrals are readily available fromlocal realtors, lenders, title companies, and the library.
ADDENDUM
Borrower: City of Boise HCD File No.: 061408024M
Property Address: 3655 N Rugby Dr Case No.:
City: Boise State: ID Zip: 83704-4364
Lender: City of Boise HCD
Addendum Page 4 of 5
The appraiser considers it prudent (and within the anticipated due diligence of a potential investor or homebuyer) to obtainthe above described inspections to assure themselves of the quality, condition, and safety of the residential property theyare purchasing.
Definition of Market Value:
The most probable price which a property should bring in a competitive and open market under all conditions requisite to afair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by unduestimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller tobuyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or welladvised, and each active in what he or she considers his or her own best interest; (3) a reasonable time is allowed forexposure in the open market; (4) payment is made in terms of cash in U.S. Dollars or in terms of financial arrangementscomparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special orcreative financing or sales concessions granted by anyone associated with the sale.
*Source: Fannie Mae
This appraisal has been completed in conformity with the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Cost Approach:
The cost approach was not utilized because it is not necessary to produce a credible result per the scope of work for theappraisal assignment.
Income Approach:
The income approach was not utilized because it is not necessary to produce a credible result per the scope of work for theappraisal assignment.
Sales Comparison Approach:
The subject property is compared to three (or more) similar properties that have recently sold. Adjustments are made to theselling prices of the comparable properties based on their features--size, quality and amenities--in order to arrive at anindication of what they would have sold for if they were similar to the subject property. Typically, the primary unit ofcomparison is square footage (GLA), however, many features are adjusted based on a per unit value that is derived frommarket extraction. The comparables selected for this appraisal are considered to be the most similar and recent salesavailable after a market search including the local mls system, and the appraiser's files. Subjective adjustments are thoserelating to factors whose contribution value tends to be more intangible, and therefore more difficult to directly gauge throughmarket extraction. This type of adjustment is unavoidable, and based primarily on the appraiser's skill and experience.
"The sales comparison approach is a set of procedures in which a value indication is derived by comparing the propertybeing appraised to similar properties than have been sold recently, applying appropriate units of comparison, and makingadjustments to the sale prices of the comparables based on the elements of the comparison. Comparative analysis ofproperties and transactions focuses on similarities and difference that affect value, which may include variations in thefollowing: property rights appraised, the motivations of buyers and sellers, financing terms, market condition at the time ofsale, size, location and physical features. A systematic procedure for applying the sales comparison approach includes thefollowing steps: 1)researching transactional data, 2) verifying the data as accurate and representative of arm's-lengthtransactions, 3) selecting relevant units of comparison, 4) determining how the comparables differ from the subject andadjusting their prices for differences in the various elements of comparison, and 5) reconciling multiple value indications intoa single value or range of values. Quantitative adjustment techniques include paired data analysis, grouped data analysis,secondary data analysis, statistical analysis, graphic analysis, trend analysis, cost analysis and direct comparisons. Qualitative analysis includes relative comparison analysis, ranking analysis and personal interviews. Both quantitative andqualitative techniques are employed in the comparative analyses." (The Appraisal of Real Estate: Twelfth Edition, from theAppraisal Institute, Chapter Seventeen).
Market Extraction and Age–Life:
"The market extraction and age-life methods tend to deal with the whole property and are easier to understand and apply. The elements of depreciation are implicit, not explicit. Both are limited in that they assume lump-sum deprecation from allcauses can be expressed in an overall estimate, do not always distinguish between short-lived and long-lived items, and relyon general forecasts of effective age and remaining economic life." (The Appraisal of Real Estate: Twelfth Edition, from theAppraisal Institute, Chapter Sixteen).
Actual Age and Effective Age.
"Actual age, which is sometimes called historical age or chronological age, is the number of years that have elapsed sincebuilding construction was completed. Effective age is the age indicated by the condition and the utility of a structure and isbased on an appraiser's judgment and interpretation of market perceptions." (The Appraisal of Real Estate: Twelfth Edition,from the Appraisal Institute, Chapter Sixteen).
Applicability and Limitations:
"When sales data is plentiful, the market extraction method provides a reliable and convincing estimate of depreciation,however, the comparable properties should have similar physical, functional and external characteristics as the subject, andthey should have incurred similar amounts and types of depreciation." (The Appraisal of Real Estate: Twelfth Edition, fromthe Appraisal Institute, Chapter Sixteen).
"When the comparable properties differ in design, quality, or construction, it is difficult to ascertain whether differences invalue are attributable to these differences or to a difference in depreciation. The market extraction method is also difficult to
ADDENDUM
Borrower: City of Boise HCD File No.: 061408024M
Property Address: 3655 N Rugby Dr Case No.:
City: Boise State: ID Zip: 83704-4364
Lender: City of Boise HCD
Addendum Page 5 of 5
apply when the type or extent of depreciation varies greatly among the comparable properties. If the sales analyzed wereaffected by special financing or unusual motivation, the problem is further complicated." (The Appraisal of Real Estate:Twelfth Edition, from the Appraisal Institute, Chapter Sixteen).
Types of Adjustments:
"An appraiser uses logical calculations to make adjustments, but the mathematics should not control the appraiser'sjudgment. Using computer and software technology, an appraiser can effectively apply mathematical techniques likemultiple regression analysis that were once prohibitively time-consuming. The techniques can be used to narrow the rangeof value, but an opinion of market value is not determined by calculations. Appraisal has a creative aspect in that appraisersuse their judgment to analyze and interpret quantitative data. Quantification helps the appraiser analyze market evidenceand identify how various factors affect property value. Qualitative analysis can be used to identify a bracket in which the finalopinion of value should fall and weight the value indicators based on market evidence." (The Appraisal of Real Estate:Twelfth Edition, from the Appraisal Institute, Chapter Eighteen).
Cost Analysis:
"In cost analysis, adjustments are based on cost indicators such as depreciated building cost, cost to cure, or permit fees. The appraiser should make certain that the adjustments derived are reasonable and reflect market expectations becausecost and value are not necessarily synonymous." (The Appraisal of Real Estate: Twelfth Edition, from the Appraisal Institute,Chapter Eighteen).
Market Conditions Addendum to the Appraisal Report File No.
The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood. This is a required
addendum for all appraisal reports with an effective date on or after April 1, 2009.
Property Address City State Zip Code
Borrower
Instructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding housing trends and
overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extent it is available and reliable and must provide
analysis as indicated below. If 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
Total # of Comparable Sales (Settled)
Absorption Rate (Total Sales/Months)
Total # of Comparable Active Listings
Months of Housing Supply (Total Listings/Ab.Rate)
Median Sale & List Price, DOM, Sale/List %
Median Comparable Sale Price
Median Comparable Sales Days on Market
Median Comparable List Price
Median Comparable Listings Days on Market
Median Sale Price as % of List Price
Seller-(developer, builder, etc.)paid financial assistance prevalent?
Increasing
Increasing
Declining
Declining
Increasing
Declining
Increasing
Declining
Increasing
Declining
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Stable
Declining
Declining
Increasing
Increasing
Declining
Increasing
Declining
Increasing
Declining
IncreasingYes No
Prior 7–12 Months
Prior 7–12 Months
Prior 4–6 Months
Prior 4–6 Months
Current – 3 Months
Current – 3 Months
Overall Trend
Overall Trend
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 fees, options, etc.).
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).
Cite data sources for above information.
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.
MA
RK
ET
RE
SE
AR
CH
& A
NA
LY
SIS
If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:
Subject Project Data
Total # of Comparable Sales (Settled)
Absorption Rate (Total Sales/Months)
Total # of Active Comparable Listings
Months of Unit Supply (Total Listings/Ab. Rate)
Increasing
Increasing
Declining
Declining
Stable
Stable
Stable
Stable
Declining
Declining
Increasing
Increasing
Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend
Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales of foreclosed properties.
Summarize the above trends and address the impact on the subject unit and project.CO
ND
O /
CO
-OP
PR
OJ
EC
TS
APPRAISER
Signature
Name
Company Name
Company Address
State License/Certification # State
Email Address
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature
Name
Company Name
Company Address
State License/Certification # State
Email Address
AP
PR
AIS
ER
Page 1 of 1Freddie Mac Form 71 March 2009 Fannie Mae Form 1004MC March 2009Produced using ACI software, 800.234.8727 www.aciweb.com
1004MC_2009 090909
061408024M
Appraisal Report
City of Boise HCD
83704-4364IDBoise3655 N Rugby Dr
XX
X
X
X
X
X
X
X
X
X
95.85%
44
224,200
25
200,750
19.50
13
0.67
2
98.53%
132
209,900
52
177,500
3.38
9
2.67
8
99.10%
119
184,900
62
186,950
6.00
8
1.33
8
A trend analysis of listing and sale data reveals the subject's market area presently has average market conditions. Property values in
the area are stable.
The Intermountain MLS, Inc. MLS was the data source used to complete the Market Conditions
Addendum.
The Intermountain MLS, Inc. MLS indicates there were 18 closed sales during the past 12 months and 4 of those sales were either
foreclosures or short sales which is 22% of the total transactions in this market area. Prior Months 7-12: 8 Sales; 2 foreclosures or
short sales; 25% of sales for this period. 4-6: 8 Sales; 2 foreclosures or short sales; 25% of sales for this period. 0-3: 2 Sales; 0
foreclosures or short sales; 0% of sales for this period.
X
The data used in the grid above does not indicate there were any concessions associated with the reported transactions. However, this
is not a mandatory reporting field for agents and there may be some transactions that do include concessions, but have not been
reported. It is beyond the scope of this assignment to confirm each sale used in the Market Conditions Report.
IDCRA-2513
Boise, ID 83713-1566
6149 N Meeker Pl Ste 110
Ames Appraisal, Inc
Mark Douglas Ames
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
FRONT VIEW OFSUBJECT PROPERTY
Appraised Date:Appraised Value: $
REAR VIEW OFSUBJECT PROPERTY
STREET SCENE
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
184,000
August 11, 2014
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
Produced using ACI software, 800.234.8727 www.aciweb.com PHT6
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Street View House Numbers
Side Away Front
Side Pool
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
Produced using ACI software, 800.234.8727 www.aciweb.com PHT6
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Inside Garage Toilet in Garage
Water Pump for Pool Living Room
Kitchen Dining
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
Produced using ACI software, 800.234.8727 www.aciweb.com PHT6
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Kitchen Dining Room
Bedroom Bath
Master Bath Sink for Master Bath
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
Produced using ACI software, 800.234.8727 www.aciweb.com PHT6
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Master Bedroom Bedroom
Bedroom Downstairs Rec Room
Downstairs Room Downstairs Bath
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
Produced using ACI software, 800.234.8727 www.aciweb.com PHT6
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Downstairs Room Furnace
Storage Missing Water Heater
Away Back Intentionally left blank
FLOORPLAN SKETCH
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Sketch by Apex Sketch v5 Standard™
12'
28.5
'
12'
28.5
'
3'
6'
5'
21' 2'
15'
30'
54'
30'
12'
10'
46'
10'
46'
10'
4.1' 4' 4.1'
10'
12'
6'
5'
6'
5'
12' 3'
6'
5'
21' 2'
15'
30'
54'
30'
Carport
Storage Cvrd Patio
Garage
22'
30'
22'
30'
Bedroom
BedroomBath
Bath
Bedroom
Living Room
Dining Room
KitchenDining
Storage
Utility
Rec Room Room
RoomRoomBath
Cvrd Porch
Main Level
Basement
Comments:
AREA CALCULATIONS SUMMARYCode Description Net Size Net Totals
GLA1 Main Level 1644.00BSMT
1644.00Basement 1644.00
GAR1644.00
Carport 342.00Garage 660.00
P/P1002.00
Cvrd Patio 460.00Cvrd Porch 30.00
OTH490.00
Storage 128.00 128.00
Net LIVABLE Area (rounded) 1644
Breakdown Subtotals
LIVING AREA BREAKDOWN
Main Level3.0 x 12.0 36.00
54.0 x 27.0 1458.00 3.0 x 36.0 108.00 2.0 x 21.0 42.00
4 Items (rounded) 1644
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
COMPARABLE SALE #1
Sale Date:Sale Price: $
COMPARABLE SALE #2
Sale Date:Sale Price: $
COMPARABLE SALE #3
Sale Date:Sale Price: $
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
158,000
s05/14;c03/14
Boise, ID 83704
5454 N Mitchell St
180,000
s05/14;c04/14
Boise, ID 83704
4933 N Sunderland Dr
175,000
s02/14;c01/14
Boise, ID 83704
8700 W Pembrook Dr
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender:
COMPARABLE SALE #4
Sale Date:Sale Price: $
COMPARABLE SALE #5
Sale Date:Sale Price: $
COMPARABLE SALE #6
Sale Date:Sale Price: $
City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
202,000
s06/14;c05/14
Boise, ID 83713
11849 W Combes Park Dr
164,900
Active
Boise, ID 83704
8830 W Westbrook Dr
193,000
Active
Boise, ID 83704
4903 N Fieldcrest Pl
LOCATION MAP
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
AERIAL MAP
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
FLOOD MAP
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
PLAT MAP
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
USPAP ADDENDUM File No.
Borrower:Property Address:City: County: State: Zip Code:Lender:
This report was prepared under the following USPAP reporting option:
Appraisal Report A written report prepared under Standards Rule 2-2(a).
Restricted Appraisal Report A written report prepared under Standards Rule 2-2(b).
APPRAISAL AND REPORT IDENTIFICATION
Reasonable Exposure Time
My opinion of a reasonable exposure time for the subject property at the market value stated in this report is:
Additional Certifications
I have performed NO services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-yearperiod immediately preceding acceptance of this assignment.
I HAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-yearperiod immediately preceding acceptance of this assignment. Those services are described in the comments below.
Additional Comments
APPRAISER: SUPERVISORY APPRAISER (only if required):
Signature: Signature:Name: Name:Date Signed: Date Signed:State Certification #: State Certification #:or State License #: or State License #:or Other (describe): State #: State:State: Expiration Date of Certification or License:Expiration Date of Certification or License: Supervisory Appraiser inspection of Subject Property:Effective Date of Appraisal: Did Not Exterior-only from street Interior and Exterior
Produced using ACI software, 800.234.8727 www.aciweb.com USPAP_14 01072014
061408024M
Appraisal Report
City of Boise HCD
83704-4364IDAdaBoise
3655 N Rugby Dr
City of Boise HCD
X
Based on this analysis, the Exposure Time is the same as that reported as marketing time in the neighborhood section. The definition of
Exposure Time was taken from the 2014-2015 Uniform Standards of Professional Appraisal Practice. "Exposure Time: Estimated length
of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale
at market value on the effective date of the appraisal."
In compliance with the 2014-2015 USPAP:
To the best of my knowledge I do not have any current or prospective interest in the subject property or the parties involved and have not
provided any services regarding the subject property within the three year period immediately preceding acceptance of the appraisal
assignment, as an appraiser or in any other capacity such as property management, leasing, brokerage, auction, or investment advisory
services etc.
X
See attached addendum.
08/11/2014
08/14/2015
ID
CRA-2513
08/15/2014
Mark Douglas Ames
ADDENDUM
Borrower: City of Boise HCD File No.: 061408024M
Property Address: 3655 N Rugby Dr Case No.:
City: Boise State: ID Zip: 83704-4364
Lender: City of Boise HCD
Addendum Page 1 of 1
Comments on Appraisal and Report IdentificationClarification of Intended Use and Intended User:
INTENDED USER: The Intended Users are limited to the client and Secondary Money Market (albeit Conventional, USDA,FHA, HUD, Fannie Mae, Sallie Mae, Ginnie Mae or VA) as cited in the engagement letter. Under the ECOA and TILA as ofJanuary 18, 2014, the borrower will be given a copy of this Appraisal Report. That disclosure obligation DOES NOT createan Intended User relationship with the appraiser.
The appraiser has confidentiality obligations that do not extend to the borrower. Any questions the borrower may have aboutthis Appraisal Report must filter through the engaging party, i.e. the client and/or the client's agent known as the AMC statedon the signed certification page. Any attempt on behalf of the borrower to contact the appraiser and bypass the legalprocess of revision requests or questions not answered or understood in the Appraisal Report will be considered by theappraiser an action of potential intimidation or coercion for the purpose of obtaining an inflated value. The appraiser willalways be ready to reconsider a value, defend a value and communicate sufficiently any detail not understood in theAppraisal Report. However, it must be understood that request can only be achieved through the legal process of fiduciary(the obligation of agency relationship to the identified client stated in this Appraisal Report). For that reason the borrower ishereby given this notice to forward all questions to the lender so the appraiser may address them as they are legallyallowed."
INTENDED USE: The Intended Use is to evaluate the property that is the subject of this appraisal for a mortgage financetransaction, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal reportform, and Definition of Market Value. No additional Intended Users are identified by the appraiser.
The appraisal was prepared in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice and in accordance with the requirements of Title XI of the Financial Institutions Reform, Recovery and EnforcementAct of 1989, as amended (12 U.S.C 331 et seq.) and any implementing regulations in effect at the time the appraiser signsthe appraisal certification. Compliance to FIRREA Title XI has been met to the extent such supervision is mandated byapplicable regulations including USPAP. In all other areas, given the nature of the assignment, the appraiser has adhered tothe required assignment conditions of other Secondary Lending agencies. When identified by the appraiser and directed bythe engagement of the client, the appraiser will adhere to those specific residential assignment conditions, i.e. Fannie Mae,FHA, Freddie Mac, VA or Sallie Mae depending upon the specific assignment condition. It is understood this adherence willbe in keeping with the QM of the Safe Harbor Act as well as the Rebuttable Presumption of the FHA in FHA assignments. Ifurther attest that on the effective date of the appraisal and the date of the report, I am a Certified Appraiser in the state forwhich the subject of the appraisal is located.
Comments on Standards Rule 2-3
I certify that, to the best of my knowledge and belief:
The statements of fact contained in this report are true and correct.
The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions andare my personal impartial, and unbiased professional analyse, opinions, and conclusions.
Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and nopersonal interests with respect to the parties involved.
Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the propertythat is the subject of this report within the three-year period immediately preceding acceptance of this assignment.
I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
My engagement in this assignment was not contingent upon developing or reporting predetermined results.
My compensation for completing this assignment is not contingent upon the development of reporting of a predeterminedvalue or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulatedresult, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the UniformStandards of Professional Appraisal Practice that were i effect at the time this report was prepared.
Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report.
Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing thiscertification (if there are exceptions, the name of each individual providing significant real property appraisal assistance isstated elsewhere in this report).
This report has been prepared in accordance with Title XI of FIRREA as amended, and any implementing regulations.
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
Borrower: File No.:Property Address: Case No.:City: State: Zip:Lender: City of Boise HCD
83704-4364IDBoise
3655 N Rugby Dr
061408024MCity of Boise HCD
Ames Appraisal, Inc, P O Box 44141 Boise, ID 83711-0141 - Tel 208-387-2637/Fax 208-387-2642
