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1979.01.10 Appraisal of Land Parcels Golf Course
elham orth eal ty BOX 1126 McCALL, IDAHO 83638 PHONE 208-634-2208 January 10, 1979 Mr. Robert H. Rernaklus P. O. Box 759 Cascade, Idaho 83611 re; Appraisalof land parcels near McCall Golf Course Dear Mr. Rernaklus, At your request, I have completed an appraisal of the noted parcels of land, the same property as is legally described within the attached appraisal. Enclosed is a report describing methods used and other information obtained in this investigation. In my opinion, the estimated fair market value of the described property as of January 1, 1979 is; Parcel A $3, 200. 00 Parcel B $500. 00 Parcel C $2, 700. 00 Total Value of described parcels; Six Thousand Four Hundred Dollars. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $6, 400. 00 Regards, Paul M. Pelham PP/mlp APPRAISAL OF GOLF COURSE PARCELS PREPARED FOR CITY OF MCCA.LL TABLE OF CONTENT Page PART I INTRODUCTION Qualifications of Appraiser. . . . 1 Assumptions and Limiting Conditions. . . . . . . . . . . . . . . . . . . . . . . 2 PART II DESCRIPTION, ANALYSIS AND CONCLUSION Scope of Appraisal. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 LegalDescription. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Legal Description, con't. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Regional and State Data. . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Area and Neighborhood Data. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Description of Land. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Highest and Best Use. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Correlation and Conclusion. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 Certificate of Appraiser. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 PART:.III ADDENDA Photos, Tudor Eng. Plat #7416- attached and a part of this appraisal PART I INTRODUCTION 1 elham orth eal ty BOX 1126 McCALL, IDAHO 83638 PHONE 208-634-2208 QUA.LIFICA.TIONS OF PA.UL M. PELHA.M REAL ESTATE BUSINESS EXPERIENCE: Owner-Broker, Pelham North Realty, McCall, Idaho Licensed in 1972 Four years experience as licensed insurance broker (Binding authority $500, 000 per location. ) Six years experience in Central Idaho A.PPRA.ISAL EXPERIENCE: Fee Appraiser for five years, all types of property Fee Appraiser for: Idaho First National Bank, McCall Branch, McCall, Idaho Idaho First National Bank, Trust Department Various Loan Companies Williamson & Killen, Attorneys at Law EDUCATION: Treasure Valley Community College, 1 year LaSalle Extenti.on University, Complete Real Estate Course, completed successfully March 1973 Course VIII, American Institute of Real Estate Appraiser AREA SERVED: Central Idaho ASSUMPTIONS AND :LIMITING CQ,NDI:TIO:NS This " appraisal is ."subject to the foil"owing. 'limiting .'conditions; . 1. The .legal description furriished ''us" is., as'su'med to' ,be correct. 2. "We "assume no responsibility-'for, matters " legal-in., character" no.i do we render any opinion" as 'to' title,.•:which'"..is .as surned ':to b" ',.rriarketable. A.11 existing •'liens and encurribrances have been disregarded' ,:arid the property is appraised -as though free and clear- and .under responsible- ownership `and c omp etent 'manag ement.. 3.. , W-e have,'made no .survey' of the'-prop,erty. :and assume not '. reapon:sibility •in` ! connection with ,such" "matters. 4. Unless otherwise noted.-lierein, - .it is assumed. that Ah•ere ar.e no.,-encroachments, zoning violations '.or restrictions existing on:, the `subject, p'ropert'y,. 5. Information, estimate's .'and opinions, contained in: this` report are obtained from sources considered r.eliable. . However; '.no, liability for tl ern can be assumed:by, the appraiser. . 6. We are" not requir.ed- to: give testimony= or "attendance •in, court b.y reason, of this appraisa"1; with 'refe"rence to the p'ropert'y. in ;uestio.n unless 'arrangements" have been made previously therefor. 7.' The. division- of. the .land: arid. irrip`r.ovements value .estimated';he'rein is applicable only, under the program of utilization shown. . -These 's:eparate valuations are invalidated 'by ,any other.. application, , J � nor � r _ 40 =y s v i� - _ 5 - F , 5 , z d 1: 4 PART II DESCRIPTION, ANA.LYSIS, AND CONCLUSION SCOPE OF 'A.PPRA.ISAI, `. - This 'appr.ai-s.al is' ,made. to-- estimate :fair market ,Value' .of property located : adjacent to;;or •n'ear the McCall Golf Course. ' , This' property 'i ' identified-.•_'' legally elsewhere: •in this .report. Market value is defined as :the- highest-price -estimated- in 'terms of money. which a property. will =bring if ',exposed for sale in the ope.n 'mark'et, allowing a .,reasonable .time to:`find' a purchaser, with ,knowledge'•-of' properties use-'and , capability:16or_-use. ; This appraisal .ds made as :of., January 1; 1979. LEGAL DESCRIP•TION.' The .prop.ert.y.:under' ,appraise_ment :is l'egalTy-_described-,.'as;. . Pa-r.cel• A.: A. tract of :.land. in� the 7NE_4 :NE4'. of Section `9, .. 'T: 18N.. , R: 3E, ;' 'N"alley. -Coiinty,. .Idaho :more •particularly des c'rib'ed•';as follow,s'; Comm"'enc,ing at -the section corner 'common:to Sections 3-, 4, 9,:;--and .10; T. 18N, ;R,.3E. ; B..M. ; Valley-'County,.. Idaho, "thence S.,0o01 '40"W,'., along -the section line common:. o,-.said 'Sections -9 and: lb:;, 416-. OO..feet to a: point••'•.then;e....S, 89959:'20"W, ; along a. line-:paral1.16 with.the• 'section: line.-common to �,saio-' Section' 4- and -`"9; 25, 00: feet- to, the real point: of beginning; 'thence continue S. 89°59'20"W,., 329. 00, ;feet to'..a steel, pin; thence N.- .0°0114011 . , 169: 46 feet to•,a steel pin, , thence- 5r . 62045!. E.- 369. 97 feet to the real point of beginning, Said tract'-of land contains;•0, 64" acres more,'-or less subject to :easement's- bf -'r-ecord' 'or in :use., Parcel .B A tract of -land in•"th `:NW4NW--of -Section 10, T,_ 1.8N,.,, , R-:+3E B:•;IVI, ; Valley County; Idaho',.''more- particularly.describ'ed^as follows: Commencing-. at- the.. section` corner ,,common -to Sections 3, 4, 9,;' and 10, T: 18N, , R. 3E, B.M. . , Valley County,,: Idaho, thence S. .0001-14011W, along''-. the -section.'--line. common to -sa:id.�Section's •:9'.-and . 10-"50. 00 feet to the -real point of.b'eginning; thence' N 89°5.9'20''-'.:E, ; 1,7.9: 25• feet.;to';a steel pin: thence N, 6°. 26!3.0!' W, ; 22: 95 feet to a steel pin: alierice-'S-. ' �82'°38' W.', .1.178. 14 feet, to the ' real.' point of beginning„ Said••,tract of land' contains 0,. 047 acres more_.or 'less subject to easements, of record, or, in use,,: i r r, r , v 4 LEGAL DESCRIPTION con't, Parcel C A. tract of land in the 'NW4NW'4-. of Section 10 .and;.the SW4'SW.41 of Section 3, T. 18N. , R. 3E. , B. M. , Valley County, Idaho more- particularly described' as follows: Commencing at the section corner 'common to Sections 3, 4 9, and 10, T. 18N. , . R; 3E. , , B,. M, Valley County, Idaho, thence S. 00011401f W. , along ` the section line common to said Sections 9 and 10, 50. 00 feet to a point;, .:thence N. 82038' E. , 255. 05 feet to. the real point of beginning; thence S. 6026130" E. , 32. 86 feet.to. a steel pin; thence N. A9059f20" E. ; 246. 71 feet to a steel ping therice .N. 33645' W. , 162. 85 feet to a .steel pin; thence S. 57°16' W: 190. 11. feet to .the real point of beginning. '. Said tract of land contains .0: 448 acres more or less subject to easements of record or in use. REGIONAL AND STATE DATA, ., Idaho, one of the Northwestern states, is bounded on the West by Oregon and Washington, the South by Utah and Nevada, the East by Montana and the North by' British Columbia.'-- 'Idaho is, rich in natural 're.'sources and agriculture is, the largest industry in the state. Lumber, ,mining,-, and tourism account for the . major balance of income. . Idaho is a mountainous, state, with many, river-valley systems that account for '.the majority of the agriculture production. Several mountain ranges traverse the state in a North-South direction, and the, Northern. part of the state is. generally .mountainous.. 'This area contains millions of acres of National forest land and is primarily under a multi-use concept of land use planning. ..Idaho has a .generally stable ' economy, and is not subject to :erratic. economin conditions of industrial states. AREA. AND NEIGHBORHOOD. DATA "The subject property .is located in McCall,. Idaho. McCall is located at the Northwest corner of .Valley County and is 'built around the South; .end of Payette Lake. The major ' industry of.the area is logging and lumber productions, .cattle production and recreation. The recreation industry is growing rapidly -due, to the excellent.-facilities and climate and the increased population of Boise and the Snake River "Valley. .*' McCall has an economy based primarily upon tourism and timber. ' A. trend toward an increased tourist and recreational economic base is presently in progress. The subject property is ,located ,adjacent to city owned recreational facilities, and in a neighborhood that is developing. as a mixed occupancy of permanent land seasonally 'occupied homes. Values in this area are gene rally ,appreciating. equal to . or slightly ahead of the- general- area. �.t - _ . 5 DESCRIPTION OF LAND Parcel A., as' legally identified elsewhere in this appraisal is a triangular parcel located on a rolling hill and generally covered 'with pine ,and aspen trees. Although of a size (0. 64 acres) suitable for two residential, lots, this parcel has no access to city streets or utility easements. Parcel B, legally described elsewhere in this appraisal, is a long triangular parcel (179 feet long, 22 feet at the base) lying between the McCall Golf Course and property owned by Brown Tie and. Lumber .Company, This land is a gentle slope and is generally bare of trees. Lack of' access removes any possibility for building .use of this land. Parcel,-B ,contains 0. 047 acres of land. . .Parcel C, legally described. ,elsewhere in this appraisal, is a trapizoidial parcel that is located between 'the McCall 'Golf -Course and land owned by Brown Tie and Lumber Company. , Located on rolling terrain, this parcel 'is' 162' at the base, about 246' along the longest side, and 32' at. the, apex, No access is available to this parcel, and proximity and .location ,in relation to several fairways remove any possibility for development. `Parcel C contains '0. 448 acres of land. HIGHEST AND BEST USE Iri an examination of highest and best use of the subject property, . several factors shall become evident. Zoning of the subject property restricts buildings or development to single family residential improvement. Size; configuration, and lack of access and utility easements to the subject property, remove .any posibbility of individual improvement of any of the described parcels. 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I � , 1 ,, _ - _ ,. s .,. . _ _ _ .. .. , .. _ � _ ... -. ., . - - ; . _ , . __ . . .. .. . . ,, . . . _ � .. .. - _ .. ,. 1 �. - .. ., _ .. , _.. - .. - < ._ ,- .. y ,. . ,..a -- S. _ _ ,, -:. _ .. ... ,..: ,;.. .- s n � _ _ :. _< ,. ,. .,. _ ... _ ,, ,�. � e - _ _._ .. ••�� _ i.7�- .... �.. ,a .v.; _� ... _. _._ .. _ ., _ .. _ v :, ,. .. _ _ _ _ .. _._ ,� �, 1 .t ... _ ._� _ .. � - , .' .. ." .. ... _ _ ,. _ .: �. '. T .- 3 ._ .� .. � .. .. i -1' _. - _ _ _ ,. _, -,.. .e. _ _ . .. - .. - _ .. • + - .. .. - � - .-:. � .. F ., � r" 1 _ .. _, 7 elhom orth ealty BOX 1126 MCCALL, IDAHO 83638 PHONE 208-634.2208 CERTIFICATE OF APPRAISER I hereby certify that I have no interest, present or contemplated, in the subject property, and that neither the enployment to make the appraisal nor the compensation is contingent upon the value of the subject 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 limiting conditions previously set forth. Based upon the information in this report and upon my general experience in the appraisal business, it is my opinion that the market value of the subject property as of January 1, 1979 is: Six Thousand Four Hundred Dollars. . . . . . . . . . . . . . . . . . . . . . . . . $6, 400. 00 Paul M. Pelham PART III ADDENDA