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HomeMy Public PortalAbout2022 Land Appraisal 1547 McCall AveAPPRAISAL OF REAL PROPERTY 1547 McCall Ave McCall, ID 83638 GREYSTONE VILLAGE NO. 3 LOT 7 BLOCK 3 City of Mccall 215 E Park St Mccall, ID 83638 $178,000 03/17/2022 David Brown BROWN & ASSOCIATES, LLC P.O. BOX 8725 BOISE, ID 83702 208 861-8016 DAVEBROWN54@YAHOO.COM Form GA6V_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE LOCATED AT FOR OPINION OF VALUE AS OF BY 2022-02-020 n/a 1547 McCall Ave McCall Valley ID 83638 City of Mccall 0-90 days EXPOSURE TIMES WERE DEVELOPED USING DATA OBTAINED FROM THE LOCAL MLS. EXPOSURE TIMES ARE EFFECTED IN THIS AREA DUE TO WINTER WEATHER CONDITIONS. - 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 and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. - Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. - 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 or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, 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 Uniform Standards of Professional Appraisal Practice that were in 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 this certification (if there are exceptions, the name of each individual providing significant real property appraisal assistance is stated elsewhere in this report). THIS IS A LAND ONLY APPRAISAL THIS IS A PRIVATE APPRAISAL AND NO FOR LENDING PURPOSES. WE ARE APPRAISING THE SUBJECT AS IF IT IS VACANT LAND, WE ARE GIVING NO VALUE, POSITIVE OR NEGATIVE TO ANY IMPROVEMENTS THAT ARE ON THE LAND. WE ARE APPRAISING THE SUBJECT BASED ON THE HYPOTHETICAL CONDITION THAT THE SUBJECT IS VACANT LAND. David Brown 04/18/2022 CRA-1724 ID 02/20/2023 03/17/2022 Form ID14AP - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 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 This report was prepared in accordance with USPAP Standards Rule 2-2(a). Restricted Appraisal Report This report was prepared in accordance with USPAP Standards Rule 2-2(b). 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 certify that, to the best of my knowledge and belief: I have NOT performed services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period 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-year period immediately preceding acceptance of this assignment. Those services are described in the comments below. Additional Comments APPRAISER: Signature: Name: Date Signed: State Certification #: or State License #: State: Expiration Date of Certification or License: Effective Date of Appraisal: SUPERVISORY APPRAISER: (only if required) Signature: Name: Date Signed: State Certification #: or State License #: State: Expiration Date of Certification or License: Supervisory Appraiser Inspection of Subject Property: Did Not Exterior-only from Street Interior and Exterior Appraisal Associates (208) 861-8016 2022-02-020 1547 McCall Ave McCall ID 83638 n/a City of Mccall Valley GREYSTONE VILLAGE NO. 3 LOT 7 BLOCK 3 LRM05750030070 2021 0 Mccall N/A 9702.00 0 0 Fair Market Value City of Mccall 215 E Park St, Mccall, ID 83638 assessor 0 227 3,399 526 0 80 20 60 0 0 5 Other 35 NORTH OF LAKE FORK RD, SOUTH OF PAYETTE LAKE, EAST OF WEST MOUNTAIN AND WEST OF THE SALMON RIVER MTNS. THE SUBJECT IS 1 MILE FROM DOWNTOWN MCCALL. IT IS CONVENIENTLY LOCATED TO SCHOOLS AND SERVICES. MCCALL IS A RESORT COMMUNITY ADJACENT TO PAYETTE LAKE IN CENTRAL IDAHO. THERE ARE RECREATIONAL OPPORTUNITIES THROUGHOUT THE AREA. THE PAYETTE RIVER IS NEARBY AND THE BRUNDAGE SKI AREA IS APPROXIMATELY 10 MILES AWAY. HUNTING, FISHING, RAFTING, GOLF AND SKIING ARE FOUND THROUGHOUT THE AREA. See attached addenda. REFER TO PLAT MAP 5,246 RECTANGUL RESIDENTIAL RES MEDIUM DESITY RESIDENTIAL RESIDENTIAL RESIDENTIAL NONE VACANT LEVEL TYPICAL ADEQUATE X 16085C0667C 2/1/2019 MUNICIPLE PROPANE MUNICIPLE MUNICIPLE Other Other ASPHALT AVERAGE NONE NONE NONE NONE THE SUBJECT SITE IS TYPICAL FOR THE NEIGHBORHOOD, IT IS A LEVEL LOT. PUBLIC WATER AND SEWER AVAILABLE. Form WFLND - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: Loan No.:LAND APPRAISAL REPORT 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. CLIENT AND PROPERTY IDENTIFICATION Property Address:City:State:ZIP: Borrower:Owner of Public Record:County: Legal Description: Assessor's Parcel #:Tax Year:R.E. Taxes: Neighborhood Name:Map Reference:Census Tract: Special Assessments:PUD Yes No HOA: $Per Year Per Month Property Rights Appraised:Fee Simple Leasehold Other (describe) Assignment Type:Purchase Transaction Refinance Transaction Other (describe) Lender/Client:Address: CONTRACT ANALYSIS 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 $:Date of Contract:Is the property seller the owner of public record?Yes No Data Sources Is there any financial assistance (loan charges, sale concessions, gift or down payment assistance, etc.) to be paid by any party on behalf of the borrower?Yes No If Yes, report the total dollar amount and describe the items to be paid.$ NEIGHBORHOOD DESCRIPTION Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics Location Urban Suburban Rural Built-Up Over 75%25-75%Under 25% Growth Rapid Stable Slow One-Unit Housing Trends Property Values Increasing Stable Declining Demand/Supply Shortage In Balance Over Supply Marketing Time Under 3 mths 3-6 mths Over 6 mths One-Unit Housing PRICE $ (000) AGE (yrs) Low High Pred. Present Land Use % One-Unit % 2-4 Unit % Multi-Family % Commercial % % Neighborhood Boundaries: Good Average Fair Poor Convenience to Employment Convenience to Shopping Convenience to Primary Education Convenience to Recreational Facilities Employment Stability Good Average Fair Poor Property Compatibility General Appearance of Properties Adequacy of Police/Fire Protection Protection from Detrimental Conditions Overall Appeal to Market Neighborhood Description: Market Conditions (including support for the above conclusions): SITE DESCRIPTION Dimensions:Area:Acres Sq.Ft.Shape:View: Zoning Classification:Zoning Description: Zoning Compliance:Legal Legal Nonconforming (Grandfathered Use)No Zoning Illegal (describe) Uses permitted under current zoning regulations: Highest & Best Use: Describe any improvements: Do present improvements conform to zoning?Yes No No improvements If No, explain: Present use of subject site:Current or proposed ground rent?Yes No If Yes, $ Topography:Size:Drainage: Corner Lot:Yes No Underground Utilities:Yes No Fenced:Yes No If Yes, type: Special Flood Hazard Area Yes No FEMA Flood Zone:FEMA Map #:FEMA Map Date: Utilities Public Other Provider or Description Electricity Gas Water Sanitary Sewer Off-site Improvements Type/Description Public Other Street Surface Street Type/Influence Curb/Gutter Sidewalk Street Lights (type) Alley Are the utilities and off-site improvements typical for the market?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 Comments: 01/2010 2022-02-020 4 124,000 529,000 27 109,000 611,000 1547 McCall Ave McCall, ID 83638 MCMLS PUBLIC RECORD Sq.Ft. CONV 0 N;Res; Fee Simple 5,246(in ac) RESIDENTIAL LEVEL PAD TYPICAL ADEQUATE ASPHALT NONE NONE NONE 509 Timm St McCall, ID 83638 1.11 miles S MCIMLS#533537 DOM 40 MCIMLS/COUNTY RECORDS 200,000 23.79 S-03/22, C-02/22 +6,000 40 CASH 0 N;Res; Fee Simple 8,407 -6,200 RESIDENTIAL LEVEL PAD TYPICAL ADEQUATE ASPHALT NONE NONE NONE -200 0.1 6.1 199,800 0 Swanie Way McCall, ID 83638 1.11 miles E MCIMLS#533527 DOM 15 MCIMLS/COUNTY RECORDS 175,000 14.45 S-02/22, C-01/22 +2,000 15 CASH 0 N;Res; Fee Simple 12,110 -13,800 RESIDENTIAL LEVEL PAD TYPICAL ADEQUATE ASPHALT NONE NONE NONE -11,800 6.7 9.0 163,200 228 Ernesto Dr McCall, ID 83638 1.81 miles SW MCIMLS#531819 DOM 155 MCIMLS/COUNTY RECORDS 168,000 16.07 S-02/22, C-01/22 +1,700 155 OWNER 0 N;Res; Fee Simple 10,454 -10,200 WOODED 0 LEVEL PAD TYPICAL ADEQUATE ASPHALT NONE NONE NONE -8,500 5.1 7.1 159,500Comparable Sales (in $) MCMLS MCMLS MCMLS MOUNTAIN CENTRAL MLS unk unk 0 MCMLS#0-by owner INTERMOUNTAIN MLS THE SUBJECT HAS NOT SOLD IN THE PREVIOUS THREE YEARS. NO SALE USED HAS SOLD IN THE PAST 12 MONTHS PRIOR TO THEIR CURRENT SALE LISTED ABOVE. ALL DATA OBTAINED FROM THE LOCAL MLS AND COUNTY RECORDS. See attached addenda. See attached addenda. 178,000 03/17/2022 Form WFLND - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: Loan No.:LAND APPRAISAL REPORT There are comparable sites currently offered for sale in the subject neighborhood ranging in price from $to $ There were comparable sites sold in the past 12 months in the subject neighborhood ranging in sale price from $to $ COMPARABLE SALES FEATURE SUBJECT COMPARABLE # 1 COMPARABLE # 2 COMPARABLE # 3 Address City/St/Zip Proximity to Subject Data Sources Verification Sources Sale Price $$$$ Price/$$$$ Date of Sale (MO/DA/YR) Days on Market Financing Type Concessions Location Property Rights Appraised Site Size View Topography Available Utilities Street Frontage Street Type Water Influence Fencing Improvements Net Adjustment (Total, in $)+++$ $ Adjusted sales price of the –––$ $ $ $ Net Adj.% Gross Adj.% Net Adj.% Gross Adj.% Net Adj.% Gross Adj.% The Appraiser has researched the transfer history of the subject property for the past 3 years and the listing history of the subject for the past 12 months prior to the effective date of this appraisal. The appraiser has also researched the transfer and listing history of the comparable sales for the past 12 months. The appraiser's research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of the appraisal. Data Sources: The appraiser's 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 Sources: The appraiser's research did did not reveal any prior listings of the subject property or comparable sales for the year prior to the effective date of the appraisal. Data Sources: Listing/Transfer History (if more than two, use comments section or an addendum.) Transfer/Sale (ONLY) of the Subject in past 36 months: $ $ Listing and Transfer history of Comp 1 in past 12 months: $ $ Listing and Transfer history of Comp 2 in past 12 months: $ $ Listing and Transfer history of Comp 3 in past 12 months: $ $ Subject property is currently listed for sale?Yes No Data Source: Current Listing History List Date List Price $ Days on Market Data Source Subject property has been listed within the last 12 months?Yes No Data Source: 12 Month Listing History List Date List Price $ $ Days on Market Data Source Comments on Prior Sales/Transfers and Current and Prior Listings: Summary of the Sales Comparison Approach: Reconciliation Comments: This appraisal is made ''as is'', or subject to the following conditions or inspections: Based on a complete visual inspection of the subject site and those improvements upon said site,defined scope of work,statement of assumptions and limiting conditions,and appraiser's certification,my (our)opinion of market value,as defined,of the real property that is the subject of this report is: Opinion of Market Value:$, as of:,which is the date of inspection and the effective date of this appraisal. 01/2010 2022-02-020 1547 McCall Ave McCall, ID 83638 MCMLS PUBLIC RECORD Sq.Ft. CONV 0 N;Res; Fee Simple 5,246(in ac) RESIDENTIAL LEVEL PAD TYPICAL ADEQUATE ASPHALT NONE NONE NONE 163 Morgan Dr McCall, ID 83638 2.29 miles SW MCIMLS#533300 DOM 95 MCIMLS/COUNTY RECORDS 172,000 14.62 S-01/22, C-12/21 +3,400 67 CASH 0 N;Res; Fee Simple 11,761 -13,000 WOODED 0 LEVEL PAD TYPICAL ADEQUATE ASPHALT NONE NONE NONE -9,600 5.6 9.5 162,400 0 Mos Way McCall, ID 83638 1.13 miles E MCIMLS#527047 DOM 141 MCIMLS/COUNTY RECORDS 165,000 17.22 S-12/21, C-11/21 +6,600 63 CASH 0 N;Res; Fee Simple 9,583 -8,600 WOODED 0 LEVEL PAD TYPICAL ADEQUATE ASPHALT NONE NONE NONE -2,000 1.2 9.2 163,000Comparable Sales (in $) Form WFLND.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 4 5 6 4 5 6 File No.: Loan No.:LAND APPRAISAL REPORT ADDITIONAL COMPARABLE SALES FEATURE SUBJECT COMPARABLE #COMPARABLE #COMPARABLE # Address City/St/Zip Proximity to Subject Data Sources Verification Sources Sale Price $$$$ Price/$$$$ Date of Sale (MO/DA/YR) Days on Market Financing Type Concessions Location Property Rights Appraised Site Size View Topography Available Utilities Street Frontage Street Type Water Influence Fencing Improvements Net Adjustment (Total, in $)+++$ $ Adjusted sales price of the –––$ $ $ $ Net Adj.% Gross Adj.% Net Adj.% Gross Adj.% Net Adj.% Gross Adj.% Listing/Transfer History (if more than two, use comments section or an addendum.) Transfer/Sale (ONLY) of the Subject in past 36 months: $ $ Listing and Transfer history of Comp in past 12 months: $ $ Listing and Transfer history of Comp in past 12 months: $ $ Listing and Transfer history of Comp in past 12 months: $ $ Comments on Prior Sales/Transfers and Current and Prior Listings: Summary of the Sales Comparison Approach: 01/2010 2022-02-020 Form WFLND - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: Loan No.:LAND APPRAISAL REPORT 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 sources: Was the project created by the conversion of 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: Are the units, common elements, and recreation facilities complete?Yes No If No, describe the status of completion: Describe common elements and recreational facilities: CERTIFICATIONS AND LIMITING CONDITIONS This report form is designed to report an appraisal of a parcel of land which may have some minor improvements but is not considered to be an “improved site”. All improvements are considered to be of relatively minor value impact on the overall value of the site. This report form is not designed to report on an “improved site” where significant value is derived from the improvements. This appraisal report form may be used for single family, multi-family sites and may be included within a PUD development. This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value, statement of assumptions 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 work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's continuing education or membership in an appraisal organization, are permitted. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the subject site and any limited improvements, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least 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 of this appraisal for a mortgage finance transaction. INTENDED USER: The intended user of this report is the lender/client identified within the appraisal report. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what they consider their own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in United States dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. (Source: OCC, OTS, FRS, & FDIC joint regulations published June 7, 1994) *Adjustments to the comparables must be made for special or creative concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1.The appraiser will not be responsible for matters of a legal nature that affect the subject property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2.The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 3.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. 4.The appraiser has noted in this appraisal report any adverse conditions (such as the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the subject property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties express or implied. The appraiser will not be responsible for any such conditions that do exist or for the engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal must not be considered as an environmental assessment of the property. 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 this appraisal report. 2.I performed a complete visual inspection of the subject site and any limited improvements. I have reported the information in factual and specific terms. I identified and reported the deficiencies of the subject site that could affect the utility of the site and its usefulness as a building lot(s). 3.I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of the Appraisal Foundation and that were in place at the time 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 comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them unless indicated elsewhere within this report as there are no or very limited improvements and these approaches to value are not deemed necessary for credible results and/or reliable indicators of value for this appraisal assignment. 5.I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for 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 the date of the 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 multiple transactions into one reported sale. 9.I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10.I have verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the 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 listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 01/2010 2022-02-020 David Brown BROWN & ASSOCIATES, LLC P.O. BOX 8725 BOISE, ID 83707 208 861-8016 DAVEBROWN54@YAHOO.COM 04/18/2022 03/17/2022 CRA-1724 ID 02/20/2023 1547 McCall Ave McCall, ID 83638 178,000 City of Mccall City of Mccall 215 E Park St Mccall, ID 83638 Form WFLND - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.: Loan No.:LAND APPRAISAL REPORT CERTIFICATIONS AND LIMITING CONDITIONS (continued) 13.I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable 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, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15.I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements 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 are subject 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 prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis 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 or occupants 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 conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan application). 19.I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any 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 ordered and 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 market participants; data collection or reporting services; professional appraisal organizations; any department, agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having to obtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, public relations, news, sales, or other media). 22.I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain 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 any mortgage 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 are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper 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 criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States Code, Section 1001, 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's analysis, 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 the appraisal 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 and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5.If this appraisal report was transmitted as an “electronic record” containing my “electronic signature”, as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. SIGNATURES 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 at least the street 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: 01/2010 2022-02-020 1547 McCall Ave McCall ID 83638 n/a 17 2.83 n/a n/a 160,000 51 n/a n/a 94 5 1.67 n/a n/a 165,000 61 n/a n/a 95 4 1.33 4 3.0 174,000 68 158,000 102 98 IDAHO IS A NON DISCLOSURE STATE, THE LOCAL MLS IS OUR ONLY SOURCE OF DATA. SELLER CONCESSIONS ARE NOT ALWAYS DISCLOSED THROUGH THE MLS. OUR OBSERVATIONS INDICATE THAT NORMAL CONCESSIONS ARE IN THE 1-3% RANGE IT DOES NOT APPEAR THAT FORECLOSURE SALES ARE STILL A FACTOR IN THIS MARKET. AS WE ARE A NON DISCLOSURE STATE OUR ONLY SOURCE OF VERIFIABLE DATA IS THE LOCAL MLS. THE DATA INDICATES THAT PRICES ARE INCREASING BUT A LARGER SAMPLING OF DATA INDICATES THAT PRICES IN THE AREA HAVE BEEN INCREASING CONSISTANTLY SINCE THE ONSET OF THE COVID PANDEMIC. THE MARKET HAS GENERALLY BEEN SEASONAL WITH SALES AND PRICES WEAKENING IN THE WINTER AND PICKING UP AGAIN IN SPRING, VOLUME HAS DECLINED THIS WINTER BUT DEMAND REMAINS HIGH. **OUR MLS DOES NOT GIVE US THE ABILITY TO DETERMINE THE NUMBER OF ACTIVE LISTINGS ON THE MARKET AT PREVIOUS POINTS IN TIME. THE DATA USED IS FROM THE MLS. David Brown BROWN & ASSOCIATES, LLC P.O. BOX 8725, BOISE, ID 83707 CRA-1724 ID DAVEBROWN54@YAHOO.COM Form 1004MC2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE File No.Market Conditions Addendum to the Appraisal Report MARKET RESEARCH & ANALYSIS CONDO/CO-OP PROJECTS APPRAISER 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 Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend Median Sale & List Price, DOM, Sale/List %Prior 7–12 Months Prior 4–6 Months Current – 3 Months Total # of Comparable Sales (Settled) Absorption Rate (Total Sales/Months) Total # of Comparable Active Listings Months of Housing Supply (Total Listings/Ab.Rate) 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 Increasing Stable Declining Increasing Stable Declining Declining Stable Increasing Declining Stable Increasing Overall Trend Increasing Stable Declining Declining Stable Increasing Increasing Stable Declining Declining Stable Increasing Increasing Stable Declining Seller-(developer, builder, etc.)paid financial assistance prevalent?Yes No Declining Stable Increasing 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. If the subject is a unit in a condominium or cooperative project , complete the following:Project Name: Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend Total # of Comparable Sales (Settled) Absorption Rate (Total Sales/Months) Months of Unit Supply (Total Listings/Ab.Rate) Total # of Active Comparable Listings Increasing Stable Declining Increasing Stable Declining Declining Stable Increasing Declining Stable Increasing 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. Signature Appraiser Name Company Name Company Address State License/Certification #State Email Address Signature Supervisory Appraiser Name Company Name Company Address State License/Certification #State Email Address Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009 CLARIFICATION OF INTENDED USE AND INTENDED USER INTENDED USER: THE INTENDED USERS OF THIS APPRAISAL REPORT ARE THECLIENT OR ASSIGNEE. INTENDED USE: THE APPRAISAL IS INTENDED TO BE USED FOR NON LENDING PURPOSES. SCOPE OF WORK WE HAVE ONLY VISUALLY INSPECTED THE SUBJECT LAND PARCEL FROM THE STREET AND HAVE MADE A LIMITED INSPECTION OF THE SUBJECT LOT. WE HAVE AT MINIMUM INSPECTED ALL COMPARABLE SALES FROM THE STREET USED WITHIN THIS REPORT WHEN POSSIBLE. THE SUBJECT IS NOT CURRENTLY LISTED IN THE MLS. THERE WERE NO SALES IN THE PRIOR 3 YEARS THAT WERE NOTED. THE SUBJECT APPEARS TO BE FOR SALE BY OWNER. MARKETING IS UNKNOWN. THERE WAS NO DATE ON THE PURCHASE CONTRACT. THE SUBJECT IS IN AN ESTABLISHED SUBDIVISION IN AS ESTABLISHED AREA, URAR: Neighborhood - Market Conditions THE MARKETING TIME FOR THE SUBJECT APPEARS TO BE IN THE 0-3 MONTH RANGE WITH CURRENT RECORDS INDICATING HOMES SELLING IN LESS THAN 60 DAYS. FINANCING FOR THE AREA IS TYPICALLY CONVENTIONAL, CASH OR THE SELLERS CARRYING THE FINANCING. SALES PRICES WITHIN THE AREA HAVE BEEN INCREASING INCONSISTENTLY WITH CURRENT PRICES AND VOLUMES DECREASING DUE TO WINTER CONDITIONS. INCREASES FOR THE YEAR HAVE BEEN RANGING FROM 10% TO 20% THERE IS A NOTED INCREASE IN FHA, VA AND IHA TRANSACTIONS WITHIN THE MARKETING AREA FOR HOME PURCHASES. BUYERS AND SELLERS TYPICALLY PAYING THEIR OWN CLOSING COSTS. IF SELLER CONCESSIONS ARE NOTED THEY TYPICALLY HAVE BEEN RUNNING AT ABOUT 1-2 POINTS. • URAR: Reconciliation - Reconciliation and Final Value Conclusion THE SALES COMPARISON APPROACH IS THE BASIS FOR THE FINAL ESTIMATE OF VALUE. THE COST APPROACH AND THE INCOME APPROACH WERE NOT UTILIZED. APPRAISERS OPINION IS THAT THE SALES COMPARISON APPROACH IS THE BASIS FOR THE FINAL ESTIMATE OF VALUE. SUPPORT AND RATIONALE FOR HIGHEST AND BEST ANALYSIS: HIGHEST AND BEST USE DEFINITION: THE REASONABLY PROBABLE AND LEGAL USE OF THE PROPERTY, WHICH IS PHYSICALLY POSSIBLE, APPROPRIATELY SUPPORTED, FINANCIALLY FEASIBLE AND THAT RESULTS IN THE HIGHEST VALUE. THE SUBJECT PROPERTY'S HIGHEST AND BEST USE WAS DEVELOPED BY AN ANALYSIS OF THE PROPERTY AS A VACANT SITE, AS WELL AS, ANALYSIS AS PRESENTLY IMPROVED. IN ORDER TO FACTOR THE CONTRIBUTORY VALUE, IF AN, OF THE EXISTING IMPROVEMENTS. THE ANALYSIS RELIED ON THE ECONOMIC PRINCIPLE OF CONSISTENT USE, WHICH REQUIRES THAT LAND AND IMPROVEMENTS BE APPRAISED ON THE SAME ECONOMICALLY CONSISTENT USE BASIS, AND, THE ECONOMIC PRINCIPLE OF ANTICIPATION, WHICH ASSUMES THAT A PROPERTY HAS VALUE BASED ANTICIPATED FUTURE BENEFITS FROM ITS EXPECTED USE AND NOT JUST IT'S PRESENT USE, BY A BUYER WITH FULL KNOWLEDGE OF ALL THE USES AND PROPOSED USES THAT COMPRISE THE PROPERTY. THE FOUR MAJOR FACTORS CONSIDERED IN THE ANALYSIS WERE, LEGALLY PERMISSIBLE USES, PHYSICAL POSSIBILITY, ECONOMIC FEASIBILITY AND MAXIMUM PRODUCTIVITY. THE PRESENT IMPROVEMENTS ON THE PROPERTY ARE CONSISTENT WITH AND CONTRIBUTE TO IT HIGHEST AND BEST USE AS A VACANT SITE. RATIONALE AND METHODS USED TO ESTIMATE REASONABLE EXPOSURE TIME AND MARKETING: TIME: STATISTICAL INFORMATION ABOUT DAYS ON MARKET, INFORMATION GATHERED THROUGH SALES VERIFICATION AND INTERVIEWS OF MARKET PARTICIPANTS. MARKET VALUE IS BASED ON REASONABLE EXPOSURE TIME. EXTRAORDINARY ASSUMPTIONS: EXTRAORDINARY ASSUMPTIONS ASSUMED ON EASEMENTS AS THE TITLE REPORT WAS NOT MADE AVAILABLE TO THE APPRAISER. HYPOTHETICAL CONDITIONS: WE ARE APPRAISING THE SUBJECT AS IF IT IS VACANT LAND, WE ARE GIVING NO VALUE, POSITIVE OR NEGATIVE TO ANY IMPROVEMENTS THAT ARE ON THE LAND. WE ARE APPRAISING THE SUBJECT BASED ON THE HYPOTHETICAL CONDITION THAT THE SUBJECT IS VACANT LAND. Summary of the Sales Comparison Approach: DUE TO THE SUBJECTS LOT SIZE AND LOCATION AND TO A LIMITED AMOUNT OF LAND SALES OUR INITIAL SEARCH OR COMPARABLE SALES WAS IN THE ENTIRE CITY OF MCCALL. CLOSED COMPS #1-5 WERE FROM THIS SEARCH. WE HAVE TRIED TO BRACKET THE SUBJECT WHEN POSSIBLE BUT SALES WERE LIMITED. WE WERE UNABLE TO BRACKET THE SUBJECTS LAND SIZE AS IT IS ONE OF THE SMALLER LOTS IN THE AREA. ALL SALES USED WERE LARGER IN SIZE. WE HAVE MADE A LAND SIZE ADJUSTMENT BUT THE ADJUSTMENT WAS MINIMAL. IT IS NOTED THAT THE SMALLEST COMPARABLE LOT USED WAS THE HIGHEST IN VALUE INDICATING THAT LAND SIZE IS NOT THE PREDOMINATE FACTOR. IT WAS ALSO THE MOST CURRENT SALE. SINCE THE ONSET OF THE COVID PANDEMIC WE HAVE BEEN IN ONE OF THE FASTEST INCREASING MARKETS IN THE COUNTRY. TIME ADJUSTMENTS WERE MADE TO RECONCILE THE CONTRACT DATES WITH THE INCREASING MARKET. A 1% PER MONTH ADJUSTMENT WAS MADE FROM THE CONTACT DATES THRU FEBRUARY. ALL ADJUSTMENTS MADE WERE BASED ON HISTORICAL DATA, PAIRED SALES ANALYSIS AND THE MARKET REACTION TO THE DIFFERING CHARACTERISTICS. THE VALUE RANGE FOR THE SUBJECT IS $158,700 TO $199,000 WITH THE SUBJECT VALUE LOCATED WITHIN THIS RANGE. CLOSED COMPARABLE #1 WAS MOST CURRENT AND GIVEN MOST WEIGHT FOLLOWED BY COMPS #2 - 5. DUE TO A LIMITED AMOUNT OF DATA WE HAVE NOT MADE A LOCATION ADJUSTMENT BUT IT IS FELT THAT THE SUBJECT'S LOCATION NEAR PAYETTE LAKE WITH EASY ACCESS TO A PUBLIC BEACH DOES INCREASE IT' VALUE AND MORE THAN COMPENSATES IT SMALLER SIZE. BASED ON THIS CHARACTERISTIC IT WOULD BE TOWARD THE HIGHER END OF OUR VALUE RANGE. Supplemental Addendum Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 2022-02-020 n/a 1547 McCall Ave McCall Valley ID 83638 City of Mccall Borrower Lender/Client Property Address City County State Zip Code File No. Supplemental Addendum Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 2022-02-020 n/a 1547 McCall Ave McCall Valley ID 83638 City of Mccall Borrower Lender/Client Property Address City County State Zip Code File No. Form PIC3X5.TR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Subject Photo Page n/a 1547 McCall Ave McCall Valley ID 83638 City of Mccall Subject Front 1547 McCall Ave Subject Rear Subject Street Borrower Lender/Client Property Address City County State Zip Code Form PIC3X5.BC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Comparable Photo Page n/a 1547 McCall Ave McCall Valley ID 83638 City of Mccall Comparable 1 509 Timm St Comparable 2 0 Swanie Way Comparable 3 228 Ernesto Dr Borrower Lender/Client Property Address City County State Zip Code Form PICPIX.CR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Comparable Photo Page n/a 1547 McCall Ave McCall Valley ID 83638 City of Mccall Comparable 4 Prox. to Subject Sale Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age 163 Morgan Dr 2.29 miles SW 172,000 N;Res; WOODED 11,761 Comparable 5 Prox. to Subject Sale Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age 0 Mos Way 1.13 miles E 165,000 N;Res; WOODED 9,583 Comparable 6 Prox. to Subject Sale Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age Borrower Lender/Client Property Address City County State Zip Code Form MAP.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Location Map n/a 1551 McCall Ave McCall Valley ID 83638 City of Mccall Borrower Lender/Client Property Address City County State Zip Code PLAT MAP Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE AERIAL VIEW Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Assessor Sheet - Page 1 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Assessor Sheet - Page 2 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Assessor Sheet - Page 3 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Assessor Sheet - Page 4 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Assessor Sheet - Page 5 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Assessor Sheet - Page 6 Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE License Form SCNLGL - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE