3. Tax Equalization Bd convenes - Laserfiche WebLink

A F't�4 r n ll Paae Supplemental Addendum File NO HARRIS Borrawdr/Cllerrl LYNN HARRIE ProTerty Address 3376 1 St 5 G Iy Faro County CASS Stale ND Iip Code 8104 Lender GATE CITY BANK •URAR:Neighborhood-Market Conditions RMLS STATISTICS INDICATE THAT THE AVERAGE TIME ON THE MARKET IN ALL PRICE RANGES FOR THE LAST 12 MONTHS IS ABOUT 50 DAYS WITH SELLERS RECEIVING 98%OF LIST PRICE AS FINAL SALES PRICE. ONE (IN THE AREA IS AT OR NEAR 4%.MARKET APPEARS TO BE IN BALANCE.THE EXPOSURE TIME AND MARKETING TIME FOR THE SUBJECT PROPERTY ARE ESTIMATED AT 2-4 MONTHS. CITED RMLS DATA FROM B-6,B-/ &ITS REAL.TOR MULTIPLE LISTING DISTRICTS WHICH IS AN EXPANDED MARKETING AREA CONTAINING AREAS WIT H DWELLINGS OF SIMILAR APPEAL AND VALUE IN SOUTH FARGO. •URAR:Neighborhood-Description NO NOTED NEGATIVE INFLUENCES TO VALUE AND MARKETABILITY.THIS AREA IS IN SOUTH FARGO.HOMES ARE TYPICALLY NEWER,LARGER IN SIZE AND OF SUPERIOR QUALITY THE AREA HAS EASY ACCESS TO TRAFFIC ROUTES INTO THE CITY.GOOD PROXIMITY TO SCHOOLS AND LIMITED SHOPPING. MANY OF THE LOTS IN THE SUBJECTS DEVELOPMENT ARE LOCATED ALONG THE RIVER OR IN CUL-DE-SACS. •URAR:Improvements-Condition of the Property NO NOTED ADVERSE CONDITIONS OR ENCROACHMENTS. THE SUBJECT IS WELL SUITED TO H'S RIVER FRONT SITE AND COMPATIBLE WITH SURROUNDING PROPERTIES THE SUBJECT IS A 2 STORY DWELLING WITH AVERAGE TO GOOD QUALITY OF MATERIALS AND CONSTRUCTION OVERALL CONDITION IS AVERAGE TO GOOD. THE BASEMENT LEVEL IS 90%FINISHED WITH A REC ROOM,BEDROOM AND FULL BATH. THE MAIN FLOOR HAS A GOOD AND FUNCTIONAL DESIGN.GOOD FENESTRATION. GOOD MILLWORK THROUGHOUT.OAK CASEWORK IN THE KITCHEN. THERE IS BOTH FORMAL AND IN-FORMAL DINING AREAS. LARGER FOYER SECOND FLOOR CONTAINS THE OWNER'S SUITE BEDROOM ALONG WITH THREE OTHER BEDROOMS AND A HALL ACCESSED FULL BATH. OWNER'S SUITE BEDROOM HAS WALK-IN CLOSET,PRIVATE BATHROOM WITH DUAL SINKS. EXTERIOR FEATURES METAL SIDING WITH BRICK ACCENTS ON THE DWELLING,CONCRETE DRIVEWAY,3 STALL ATTACHED GARAGE WITH INSULATED AND DRYWALL SHEETED WALLS AND CEILING. REAR YARD DECK AND COVERED FRONT ENTRY PORCH.GOOD/MATURE LANDSCAPE WITH SHRUBS,TREES AND ROCK AROUND THE DWELLING.THERE IS AN INGROUND LANDSCAPE SPRINKLER SYSTEM. •URAR:Sales Comparison Analysis-Summary of Sales Comparison Approach THE COMPARABLES SELECTED ARE RECENT,SIMILAR SALES IDENTIFIED NEAR THE SUBJECT PROPERTY.ANY CONDITION ADJUSTMENTS ARE BASED ON RMLS COMMENTS.RMLS PHOTOS AS WELL AS EXTERIOR INSPECTIONS OF THE COMPS OTHER ADJUSTMENTS CONSIDER DWELLING SIZE SITE AREA,SITE VIEW,QUALITY OF CONSTRUCTION AND AMENITIES OR LACK THEREOF.THE COMPARABLES SELECTED PRESENT REASONABLE ALTERNATIVES TO THE SUBJECT FOR THE TYPICAL BUYER IN THE MARKET. DUE TO THE LACK OF RECENT,SIMILAR SALES IN THE SUBJECTS HARDWOOD GROVES DEVELOPMENT,IT IS NECESSARY TO USE SALES FROM NEARBY DIRECTLY COMPETING DEVELOPMENTS. PROPERTIES IN THE SUBJECT'S DEVELOPMENT ARE GENERALLY LONG HELD AND ARE HIGHLY COMPATIBLE WITH THE SUBJECT DWELLING. COMPARABLE 1 IS A NEARBY 2-STORY RESALE IN A DIRECTLY COMPETING AREA OF SOUTH FARGO. THIS SALE HAS A SMALLER SITE,SMALLER DWELLING SIZE AND OVERALL SIMILAR AMENITY LEVEL AND AMOUNT OF BASEMENT FINISH. COMPARABLES 2 IS A 2-STORY RESALE OF SIMILAR CONDITION AND SUPERIOR QUALITY(FLOORING,CASEWORK AND INTERIOR DOOR QUALITY). THIS SALE HAS A LARGER SITE,FINISHED GARAGE INTERIOR AND BACKS TO A HEAVY TRAFFIC AVENUE. COMPARABLE 3 IS A 2-STORY RESALE NEAR THE SUBJECT WITH SIMILAR AGE,QUALITY AND CONDITION.THIS SALE HAS A SMALLER SITE,SUPERIOR BASEMENT FINISH AND HAS A FINISHED GARAGE THE SUBJECT LACKS. COMPARABLE 4 IS A 4-LEVEL SPLIT RESALE IN THE SUBJECT DEVELOPMENT OF SUPERIOR QUALITY AND SIMILAR CONDITION WITH LARGER DWELLING SIZE. SUPERIOR CONSTRUCTION ELEMENTS INCLUDE BETTER FENESTRATION,CASEWORK,INTERIOR DOORS,SKYLIGHTS AND CEILING VAULTS. THIS SALE HAS A SMALLER BASEMENT WITHOUT FINISH. COMPARABLE SALE 5 IS A RECENT 2-STORY SALE IN A DIRECTLY COMPETING SOUTH FARGO DEVELOPMENT OF SIMILAR APPEAL AND DEMAND. THIS SALE HAS A SMALLER SITE AREA WITH PREFERRED PARK VIEW TO THE REAR. THIS IS A SMALLER DWELLING OF SIMILAR AGE,CONDITION AND QUALITY WITH SUPERIOR EXTERIOR AMENITIES ANY BUYER ASSUMED SPECIAL ASSESSMENTS HAVE NOT BEEN ADDED TO THE COMPARABLE'S SALES PRICE. THE SUBJECT'S FINAL.VALUE DOES NOT INCLUDE ANY OUTSTANDING SPECIAL ASSESSMENTS. DUE TO THE LIMITED NUMBER OF SALES SIMILAR TO THE SUBJECT IN THE SUBJECT'S MARKET AREA IT IS NECESSARY TO USE COMPARABLE SALES WITH DISTANCES GREATER THAN 1 MILE FROM THE SUBJECT. THE MARKET IN THE SUBJECT PRICE RANGE HAS REMAINED STABLE OVER THE LAST YEAR AND SALES OVER 6 MONTHS OLD USED IN THIS ANALYSIS REMAIN A GOOD INDICATOR OF CURRENT MARKET VALUE FOR THE SUBJECT ALL ADJUSTMENTS MADE TO THE COMPARABLE SALES ARE BASED ON OBSERVED MARKET REACTION IN THE PRICE RANGE AND AREA Ferri TADD--WerTOIAL'appraisal solrware by a Id Inoue,nIc 1-500,+.LAMODI