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HomeMy Public PortalAbout1975.07.01 McCall cemetary Land AppraisalJuly 1, 1975 Mr. Burton Walker McCall, Idaho Dear Mr. Walker: Pursuant to your request for an appraisal on property located in the southwest corner of the property owned by, the City of McCall for cemetery purposes in McCall, Valley County, Idaho, I present to you the following report. The report presents the facts gathered in theinvestigation and rw conclusions drawn from those facts. It was necessary for me to inspect the property along with the sales which was dime on June 22-23, 1975. The rights appraised are those held in fee simple title. This letter becomes a portion of the total repot^t© It is my opinion based on my general knowledge as an appraiser and the facts presented that the subject property as of the first day of July 1975 has a market value of Five Thousand One Hundred Dollars to Five Thousand Six Hundred Dollars ($5000,to $5,600). Thank you for calling regarding this matter. Sincerely, Wayne Harper WFH:ka Enclosures INDEX Identification of Property Type of Property Purpose of the Appraisal Statement of Ownership Method of Appraisal Definition of Market Value Photos of Subject Riverside Subdivision Certificate of Appraisal Contingent and Limiting Cmditions Qualifications of the Appraiser Area Data Ueighborhood Data Legal Description Area Drawing Site Description Highest and Best Use Zoning General Sales Page 1 Page 1 Page 1 Page I Page-1 Page 1 Page 2-3 Page 4 Page 5 Page t Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 13 Page 14 IDENTIFICATION OF PROPERTY A triangular parcel of land located in the southwest corner of the property owned by the City of McCall for cemetery purposes. TYPE OF PROPERTY Bare rolling land PURPOSE OF THE APPRAISAL To estimate the market value of the subject property. The appraisal is prepared as though the property is held in fee simple title and free from liens and encumbrances. STATEMENT OF OWNERSHIP The City of McCall, Idaho, has held the property for more than five years. METHOD OF APPRAISAL The property being bare, the only method available is that of direct comparison. DEFINITION OF MARKET VALUE* As used in this report Market Value is defined as: The highest price estimated in terns of money which a property will bring if exposed for sale in the open market allowing a reasonable 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 bray, neither being under abnormal pressure. -1- PHOTOS OF SUBJECT Subject parcel shows as right of the oiled road and left of a line along the pole fence. Pole fence shows up on the left side of picture and oiled road is on extreme right barely visible. -2- PHOTOS OF SUBJECT cont. 1 The red lines drawn represent a dedicated road which has never been opened. This road was dedicated by the Riverside Subdivision of McCall, Idaho. -3- 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 compensation is contingent on the value of the property. 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 underlying assumptions and contingent conditions. Based upon the information contained in this report and upon my general experience as an appraiser, it is my opinion that the Market Value as defined herein of this property as of July 1, 1975, is FIVE THOUSAND ONE HUNDRED DOLLARS ($5,100) to FIVE THOUSAND SIX HUNDRED DOLLARS ($5,600). ////ge2,- Iti/e,.,_-,1,— Wayne,F. Harper Appraiser CONTINGENT AND LIMITING CONDITIONS The legal description furnished me is 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 property is appraised as though free and clear under responsible ownership and competent management. The drawings and maps in this report are included to assist the reader in visualizing the property. I have made no survey of the property and assume no responsibility for its 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 anyone but the client without 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 references to the property in question, unless arrangements have been previously made therefore. I have no present or contemplated interest in the property appraised. This appraisal has been made in accordance with the Code of Ethics ,f the American Institute of Real Estate Appraisers. -6- QUALIFICATIONS OF THE APPRAISER APPRAISAL EXPERIENCE: State of Idaho 1964 to date. Highway Department condemnation appraisals of farms subdivisions, residence, 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. 9 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 Loan Bank Board. These are in the most part residences and commercial valuations used by the client to determine the extent of a total mortgage atailable 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 its 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 Land 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 L7- AREA DATA The.area is best described as being that part of southwesternAdaho that is the water shed of the Payette'River.It. extends up river from Emmett, :Adaho, and coverS'the entire water shed. Economics -- The greateSt income isthrived from forest products.' TOurism and agriculture are also large producers. .Utilities Eleetripity and telephone with the villages. and towns having public water and sewer. Transportation -,, Northwest Stages, charter air .travel, Union oo Pacific' Railroad, : 'Roads -- The'areAis traversed by. Highway 55 and most of. ' the Major county roads Are surfaced. Schools -- Climate -- Recreation Growth -- The area is proud of their schools. Bus transportation for school is common in the area. Short summers and long winters with temperatures running down to 30° below zero. Snow'is the. thing in the winter. , The area.is known for its recreation both in, winter and summer. The area has shown rapid grOwth as indicated by the increase in:numbers of small 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 ' the economics of the area. -0- NEIGHBOREOOD DATA ,The entire village of McCall, Idaho, is considered as one neighborhood. -There Isn't sufficient . evidence whiCh.would cause ope to separate the various parts into divisions. Economically there is ohe.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 indication 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.thorughout the neighborhood. LEGAL DESCRIPTION All of that part of the 5W1/4NW4 Went 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(bnated to the city and apparently no survey was made. to establish the corners, and 'as so often happened, the parties concerned estimated -their lcication. In this case, the. .city began placing graves on the highest knoll and thus established a cemetery and so platted it around the early. graves. During the seamier _ of 1972, the property to.the north was soldand surveyed which brought about the discovery of the errors in locating the cemetery as wellas one other property;:. The total land owned by city not -used as cemetery. is 15.8 acres. The total land considered in this appraisal is . 2.5 atres. 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). SITE DESCRIPTION The subject site Is a triangular parcel containing about 2.5 acres. It is located in the southwest . corner of that certain piece of property owned by the City of McCall used as a cemetery. The triargulation is caused by a county -city road which is oiled. The site is rolling and unimproved. The site has available to it city water but no sewer; however, the sewer is not denied. The site,while it is.a part of the cemetery land, : is net likely that it will be so used because of the road. The actual diinensions are not now - available. See drawing. 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 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 cemetery 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, mortuary, etc.) The most economic use is for cemetery because:. the present cemetery will not be useable too much . longer and then the district would be forced to go elseWhere. The city (district) has the property andtherefore its -use should remain so or in scree .related use. ZONING Industrial -13- GENERAL SALES The sales presented are all along the highway near the airport and represent very recent sales (1972 to 1974). These sales are all in tract of twos to 30 acres. They represent in part investment and part for commercial uses. These sales all have highway influence and are not effected by dump or cemetery influences. These sales in the most part are rectangular in shape and therefore the total land is useable. Bill Diehardt sold 30 acres in 1972 to Payette Lakes Lumber for $100,000 or $3334 per acre. Sale verified by Payette Lakes Lumber. Bill Diehardt sold to Velma Morrison for $3000 per acre. Sale information by P. Shelton. Payette Lakes Lumber to Bob Brown 231 acres at $4500. Verified by Payette Lakes Lumber. Payette Lakes Lumber to Sloane, 10 acres at $5000 per acre. Verified by Payette Lakes Lumber. The sales have a much better location by at least 40%. The outside influences such as dump and cemetery would reduce the sale by 30%. The land that is not useable in the subject would create a further reduction of 10%. Specific use would make the subject better than sale by 20%. Total adjustment 45% Sales $4500 to $5000 per acre $4500 x 45% = $2041 per acre indicated Subject Value $2041 per acre x 2.5 acres e $5103 $5000 x 45% e $2250 per acre $2250 x 2.5 acres a, $5625 Based on the above sales it is my opinion that the subject property would have a market value of $5100 to $5600. 714- july 1, 1;75 Mr. Burton Walker McCall, Idaho Dear Walker: Pursuant to Your request for an appraisal on your peoputy located in the sfAthwest corner of property owned by the CAy of McCall for cemetery purposes in McCall, ValiQ/ County, Idaho, peesent to yQta the following report. The report presents the facts gathered ifi icivestiption and wy conclusions drawn from thcse facts. It was necessary for ne to inspect the property GloK-, with the sales which was done on June 22-2 n75. The rights appraised are those held in fee simple title. This letter becomes a portion of the total report. It is my opinion based on geneml know3ege as e,.n appralsr.lr an,j; the 'eructs presented that the subject property as of the first day cf July 1975 has a market value of Five Thousand One Hundred Dollars to Fiye Thousand Six Hundred Dollars 45,100 to $5,600). Thank you for calling regarding this matter. Sincerely, Wayne F. Harper WFH:ka Enclosures r S B9'/Q•E 573.0 Awl • .14ten e s0•92 74,44 , io✓cc o6e3 .4ei/r6y cri/.r' /o1s 45 /ic /,e ✓%G� °f' He e.",, 1/a//9.' ! .r f ; S/a-�i7, ca reii4 SO:d Or�i6CaiP.'Kr, Poire� ica/e ec/ 4e use odic/ en a%c P�/' '6ir✓ei a// Me skeele e si'naeol F sal✓ ivtyl J. See vet' Ars iXcean% e.6et-.6ee/ /irS na»a arch, /95/ I of 6e .5 . fo 44/.4 /9S/, be%..-e P� *"0/ Tony I!//tlrn ✓ec, • .s/aie °F 6-�so 4:1 .67./y e'eNry /nJ//an7M� .v5a%_//f.Enewn /a me /o�J de f/e PriJon f�y F1.6/.4 ,t lie 5%II1E of/lobo ive n.f MCCA«, SOANe. 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