Loading...
HomeMy Public PortalAbout1972.12.04 Appraisal City Property UP Railroad to CemetaryAppraisal of CITY OF MC CALL PROPERTY in McCall Valley County Idaho Owner City of McCall by Wayne F. Harper Rt. 3, Box 53 Emmett, Idaho Telephone 365-2511 WAYNE F. HARPER APPRAISER RT. #3, BOX 53 EMMETT, IDAHO 83617 AREA CODE 208 365-2511 December 4, 1972 Mr. Burton Walker McCall Idaho Dear Mr. Walker: Pursuant to your request that an appraisal be prepared on the property owned by the City of McCall, Valley County, Idaho, I present to you the following report. It was necessary to make an inspection of the property which was done on November 6, 1972, and also to inspect those sales used in the comparison. The appraisal was prepared as though the property was held in "Fee Simple" title and free from liens and encumbrances. This letter is to become a portion of the total report. It is my opinion that the most probable market value of the property as of December 4, 1972 is THIRTY-SIX THOUSAND FIFTY DOLLARS ($36,050). Thanks for the opportunity to serve you. Respectfully submitted, Wayn F. Harper, App aiser Rt. 3, Box 53 Emmett, Idaho -Gz-C INDEX Page Identification of Property .. .. . . . 1 Type of Property 1 Purpose of Appraisal 1 Definition of Market Value . . . . . . . .- . 1 Area Data and Neighborhood 2 Legal Description 4 Site Drawing 5 Photos of Subject 6 Site Description and History 7 Highest and Best Use 8 Zoning ...... 8 Comparable. Sales 9 Final Estimate 10 Certificate of Appraisal . . 11 Contingent and Limiting Conditions 12 Qualifications of the Appraiser 13 IDENTIFICATION OF PROPERTY Unimproved tract of land adjoining the Union Pacific Railroad and South of and adjoining the,McCall Cemetary. TYPE OF PROPERTY Rolling and timbered. PURPOSE OF APPRAISAL To estimate the most probable market value of the subject pro- perty. The appraisal is made as though the property title is held in "Fee Simple" and free from liens and encumbrances. Inspection of the property was made on November 6, 1972. DEFINITION OF MARKET VALUE Market Value:* As used in this report Market Value is defined as: The highest price estimated interms of money which a property will bring if exposed for sale in the open market allowing a reason- able time to find a purchaser who buys with knowledge of all the uses to which it is adapted and for which it is capable of being used. Frequently it is referred to as the price at which a willing - seller would sell and a willing -buyer would buy, neither being under abnormal pressure. *Appraisal of Real Estate AREA DATA The area is best described as being that part of Southwestern Idaho' that is .the water shed of the Payette River. It -extends up .river from Emmett, Idaho and covers the entire water shed. ECONOMICS The greatest income is derived from forest products. Tourism and agriculture are. also large 'producers. UTILITIES Electricity and telephone with the villages and. towns having public water and sewer.• TRANSPORTATION Northwest stages, Charter air travel, Union Pacific Railroad ROADS The area is traversed by Highway 55 and most of the major county roads are surfaced. SCHOOLS The area is proud of their schools. Bus transportation is common in the area. CLIMATE -Short summers.and long winters with temperatures running down to 309 below zero. Snow is .the thing in winter. RECREATION The area is known for its recreation both., in winter and summer. GROWTH The area has shown rapid growth as indicated by the'increase in. numbers ofsmall parcels of land changing hands. This is recreation growth and will continue. This type of growth will increase the tax base as well as increase theeconomics of the -area. NEIGHBORHOOD DATA The entire village of McCall, Idaho is considered as one neigh- borhood. There isn't sufficient evidence whichwouldcause one to separate the various parts into divisions. Economically there is one area which is ahead of the others and. that is the. Lake Shore and it should be remembered. Ethnic groups if any live in harmony with the community. The economy of the neighborhood is built up :around the lumber industry and recreation. Schools are near new and are adequate to the needs. The indi- cation is that they will be increased as the need arises. The city government is adequate under the laws of the state for this class of =village. Utilities common to comfortable living are available throughout the neighborhood. LEGAL DESCRIPTION All of that part of .the SW4NW4 West of R.R.R/W Sec. 16, T18N R 3 E.B.M. Carl Brown to the City of McCall, Idaho Recorded in Book 16, Page 613 of Valley County Records. This property was donated 'to.the city and apparently no .survey was made to, establish the corners, and as so often happened, the parties concerned estimated their location. In this case the city , began placing graves on the highest knoll and thus established a cemetary and so platted it around the early graves. During the summer of 1972 the property to the North was sold and surveyed which brought about the discovery of the errors in locating the cemetary as well as one other property. The total land: owned by city not used as cemetary is 15.8 acres. The total land considered in this appraisal is 10.3 acres. This land has been exempt from taxes; therefore no reference is 'made to the assessed valuations. (State of Idaho to Brown File, 1936. 17-497. Was sold to Brown in Sept. 1919) 5'4 a v s';/ r'`d r 7/ ejlol o*, •^ l TV £'O/ ro 2/9mas?, • • 6r/ 4,11,04.4.4 70 1049/ 9NIMOJa 31IS -g- 1 1 103C80S 30 SOlOHd NMI OEM r SITE DESCRIPTION AND HISTORY Carl Brown purchased the subject lands from the State of Idaho in September, 1919. The „deed was recorded in February, 1936 Book 17, Page 497. This established that the State was the sole owner of the property when the Chinaman was buried on it before 1913. The oldest marked grave .I was.. able: to quickly locate was.: established in 1913. The State owned the land and probably at the time of sale to Carl Brown was unaware that a cemetary existed. .on it, and therefore sold it to Brown. Brown probably knew of it and may have had the intention of giving the land to the City for such purposes but failed to so state. Also all of the cemetary does not exist within the boundaries of the land given by Brown to the .City :but over in private property to the North. The land now described will be for that portion given to the City not now used by the cemetary proper. There is 15.8 acres of land South of the cemetary which has roads and wastes to cut it down to 10.3 acres useable. See drawing - pages 5 and 6. Part of the waste, by reducing some of the roads, could become useable for some purpose. The land is bounded on the East by the Union Pacific, Railroad R/W. The land is rolling to steep and timber covered. City water is piped across the property. City sewer is not now available but is not ruled out. The Subject is within the City Limits. All utilities common to comfortable living are available to Subject. HIGHEST AND BEST USE Due to the proximity of the R.R. R/W and the fact that a siding could be had, the reasonable reaction would be to put the R.R. to work. This would be practical if the property were nearer to being level. The highest and best use is not industrial but nearer multi -family residential coupled with recreation. The use of the multi -family only refers to the density of population to one acre, and therefore many units to the acre. The cemetary is .thought by some to influence the value but this is not seen in the market. The highest and best use in an unrestricted market is that of multi -family residential. (Apartments, condominiums) The most economic use is. for cemetary because the present ceme- tary will not be useable too much longer and then the district would be forced to go elsewhere. The city (district) has the property and therefore its use should remain so. ZONING: Industrial -8- COMPARABLE SALES The Zoning states that the property should be used for industrial purposes. The economic climate in the city neighborhood would indicate that the property would find .faster acceptance in the market as a type of residential or commercial and that this use would probably return as high a value. Keith Elliott purchased 24 acres for $6,400 on which to build a house, within city and on city water and sewer, covered with trees,. brushy and steep. This sale indicated $2,840 per acre. Lots of five acres are being offered on the market for $2,000 per acre. These overlook the sewer lagoon, are timbercovered,, with city water and sewer available. These are farther from the center of town and schools. One acre and smaller lots on Forest Street which is good resi- dential street are selling for as high as $5,000'each. These are in a better location than the Subject and smaller parcels. Based on these: sales and offerings, the Subject property in five acre lots would have a value of $3,500 per acre for the useable. 10.3 acres X $3,500 $36,050 In discussing the problem of the cemetary with those in the lower valleys who have been in the private cemetary or lands dedicated -to cemetary use, they state that more people have gone under than have made a go of it. The requirements placed on such an operation are not such as to be very attractive. . One of these stated that the price of the land is a problem but he paid $1,000 per acre and that was too much. Asked if he would have been in a better position at a lower land price, he stated between $500 and $750 per acre. Based on these figures, the'land if dedicated for cemetary uses only the useable 10.3 acres X $750 would indicate that value. $7,725. The use of any other approach would not be advisable in this case as we are dealing only with bare land. FINAL ESTIMATE My final estimate of value is based on the findings of bare land. Unrestricted Restricted $36,050 $ 7,725 -10- CERTIFICATE OF APPRAISAL Certification: I hereby certify that I have no interest, present or contemplated, in the property and that neither the employment to make the appraisal, nor the com- pensation is contingent on the value of the pro- perty. I certify that I have personally inspected the property and that according to my knowledge and: belief, all statements and information in this report are true and correct, subject to the under- lying assumptions and contingent conditions. Based upon the information contained in this re- port and upon my general experience as an appraiser, it is my opinion that the Market Value as defined herein of this property, as of December 4, 1972, is THIRTY-SIX THOUSAND FIFTY DOLLARS ($36,050).. Wayne . Harper / Appra ser CONTINGENT AND LIMITING CONDITIONS The legal descriptions furnished me are assumed to be correct. I assume no responsibility for matters legal in character, nor do I render any opinion as to the title, which is assumed to be good. All existing liens and encumbrances have been disregarded and the properties appraised as though free and clear under responsible ownership and competent management. The sketches in this report are included to assist the reader in visualizing locations. I have made no survey of the . properties and assume no responsibility for accuracy. Possession of this report, or a copy thereof, does not carry with it the right of publication, nor may it be used for any purpose by any but the client without the previous written consent of the appraiser and/or the client. I am not required to give testimony or attendance in court by reason of this appraisal, with reference to the property in question, unless arrangements have been previously made therefore. I have no present or contemplated interest in the -properties appraised. Thisappraisal has been made in accordance with the Code of Ethics of the American Institute of Real Estate Appraisers. -12- QUALIFICATIONS OF THE APPRAISER APPRAISAL EXPERIENCE: State of Idaho. 1964 to date. Highway Department condemnation appraisals of farms, subdivisions, residences,, commercial property (unimproved & improved), and industrial property. These have ranged from small take to the figure of $100,000 in take alone.. City of Boise, Idaho The Redevelopment Agency which is charged with the redevelopment of Boise City core area (HUD), acquisition appraisals of total properties within the first phase for court if not purchased. Fish and Game Department Department of the State of Idaho, acquisition of river lands for geese nesting grounds. Bureau of Land Management Acquisition of lands for R/W into a. remote area. Lending Institutions Continental Life & Accident, First Federal Savings & Loan, Provident Savings & Loan, First Security Bank of Idaho (Emmett, Idaho), Idaho First National Bank, Veterans Administration, and Federal Home LoanBankBoard. These are in the most part residences and commercial valuations used by the client to determine the extent of a total mortgage available to the property. Private Parties The experience here .is varied being from residences to cattle ranches and commercial properties. Considerable work has been done in the field of recreation both for the developer and the individual buyer. Court Experience I have been qualified in State district courts in the counties of Ada', Canyon, Payette, and Gooding. I have been qualified in Federal Court. Miscellaneous The University of Idaho has given its. endorsement to the Real Estate Commission for me to teach their course of appraisal under the Adult Education program. Education Graduate of the University of Idaho, 1936. Completed and passed courses offered by the American Institute of Real Estate Appraisers: Course 1, Seattle,Washington, 1964, Introduction to Appraisal Course 2, Seattle, Washington, 1965, Commercial Properties Course 3, Seattle, Washington, 1966,Urban Properties Course 4, Granby, Colorado, 1967, Cattle Ranches & Grazing Lands Attended a seminar on Recreation Lands at Tahoe, Nevada in 1967. Completed and passed course offered by. the Society of Real Estate Appraisers: Course 201, Santa Clara, California, 1972, Income Properties 713-