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<br />Aaland Appraisals
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<br />IFile No 40600122071 Paoe #21
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<br />Uniform Residential Appraisal Report
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<br />STAVENES
<br />File # 406D012207
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<br />The purpose of this summary appraisal report Is to provide the lender/client with an accurate, and adequately supported, opinion of the market vaiue of the subject property,
<br />Prooertv Address 406 Woodland Place NW Citv WEST FARGO State ND Zio Code 58078
<br />Borrower STEPHEN & TAMARA STAVENES Owner of Pubiic Record ESTORIA CORPORATION County CASS
<br />Leoal Descri otion LOT 1 BLOCK 1 WOODLAND ESTATES SUBDIVISION
<br />Assessor's ParC111 # 60-22010-00010-00C Tax Year 2006 R,E, Taxes $ 126.84
<br />Neighborhood Name WEST FARGO Map Reference C1Y MAP Census Tract 38017-0405,00
<br />Occuoant -rT Owner IX1 Tenant rl Vacant Soecial Assessments $ 0 rl PUO HDA S r oer year il oer month
<br />" Prooertv Rinhts Aooraised R Fee Simole il Leasehold r l Other (describe)
<br />Asslonment Tvoe IX1 Purchase Transaction il Refinance Transaction il Other (describe)
<br />Lender/Client WELLS FARGO BANK NA035245 Address 901 401H STREET SW Faraa ND 58103
<br />Is the subject oronertv curreotlv offered for sale or has it been offered for sale in the twelve months orlor to the effective date of this annraisal? -r 1 Yes IX1 No
<br />Renort data source(sl used, offerino orice(sl, and date(s), OWNER RMLS NEW CONSTRUCTION
<br />I [8J did 0 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
<br />'oertormed, THE CONTRACT APPEARS TO BE A REASONABLE TRANSACTION BE'TWEEN INFORMED BUYERS AND SELLERS,
<br />.. Contract Price $ 231 000,00 Date of Contract 01/09/2007 Is the propertv seller the owner of oublic record? [8J Yes il No Data Sourcers1 C1Y RECORDS
<br />Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc,) to be paid by any party on behalf of the borrower? DYes [8J No.
<br />. If Yes, reoort the total dollar amount and describe the items to be oaid,
<br />Note: Race and the racial of the neiahborhood are not appraisal factors,
<br /> ,y.y/:
<br />Location n Urban Suburban IX1 Rural I prOilerty Values IX1lncreasino Stabie r Declinino PRICE AGE One-Unit 85 %
<br />. Built.Uo [8J Over 75% 25-75% o Under 25% IDemand/Sunolv rl Shortaoe >< In Balance r Over Suooly S woof Ivrs) 2-4 Unit 5%
<br />: Growth o Rapid X Stable rl Slow I Marketino Time il Under 3 mths >< 3-6 mths r Over 6 mths 100 Low 0 Multi-Familv 0%
<br />. Neighborhood Boundaries THE AREA NOR1HWEST OF WEST FARGO AND SIMILAR 300 High 30 Commercial 5%
<br />~ DEVELOPNENTS WITHIN 15 MILES OF 1HE SUBJECT 190 Pred, 5 Other 5%
<br />Neiohborhood Descriotion THE AREA IS ONEOF HONES BUILT TO S1YLES AND SIZES POPULAR IN TODAYS MARKET, MOSTLY SPLITS AND
<br />RAMBLERS OF rvoDERATE SIZE AND AVERAGE TO GOOD QUIIlI1Y, CONVENIENT TO ALL SERVICES AND MANY SCHOOLS, DEN\lI,NC
<br />APPEARS TO IN BALANCE WITH SUPPLY. HOMES ARE 1YPICALL Y WELL MAINTAINED.
<br />Market Conditions (includinasupport for the above conclusionS) LIMITED RMLS STATISTICS INDICATE THAT THE AVERAGE TIME ON 1HE MARKET IN
<br />THE AREA IS ABOUT 76 DAYS WITH SELLERS RECEtvlNG 98% OF LIST PRICE AS FINAL SALES PRICE. UNEMPLOYMENT tN THE AREA
<br />IS AT OR NEAR 4%, THESE NUMBERS HAVE SHOWN LITTLE CHANGE IN THE PAST YEAR,
<br />Dimensions 200 X 300 IRR Area 65570 Sn,Ft. Shape iRREGULAR View RES/AVG
<br />Soecific Zonina Classification RESIDENTIAL Zonina Description SINGLE FAMILY HOMES
<br />Zonina Comoliance IX1 Leoal 0 Leaal Nonconforming (Grandfathered Use) n No Zonino n IIleaal (describe)
<br />Is the hillhest and best use of subiect oroperty as imorovedlor asnronosed ner plans and snecificatlans) the present use? iXfYes 1'''1 No If No, describe
<br />Utilities Public Other (describe) Public Other (describe) Oft-site improvements - Type Public Private
<br />Electricitv [8J o 200 A Water Tl [8J RURAL Street ASPHALT [8J il
<br />Gas [8J 0 Sanitary Sewer 0 [8J SEPTIC Alley NONE 0 0
<br />FEMA Soecial Flood Hazard Area DYes [8J No FEMA Flood Zone X FEMA Mao # 3800240010E FEMA Map Date 2/2/1995
<br />Are the utilities and oft-site improvements tYoical for the market area? [8J Yes il No If No, describe
<br />Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, elc,)? DYes [8J No If Yes, describe
<br />NO APPARENT ADVERSE ENCROICHMENTS OR EASEMENTS NOTED, CURRENTSPEClAL ASSESSMENT BALANCE ACCORDING TO
<br />COUN1Y RECORDS OF $0
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<br />Unitsl'X'lDne rl One with Accessory Unit o Concrete Slab 1"1 Crawl Soace Foundation Walls PCONC GO Floors CPT/LAM AVG
<br /># of Stories 2 iX:1 Full Basement 1''1 Partial Basement Exterior Walls VINYL GD Walls DRYWALL AV/GE
<br />Type [8J Det. 0 Att, 0 S-Det./End Unit Basement Area 1 503 sq,ft, Roof Surtace ASPH SHNGL GO Trim/Finish WD STN AVG
<br />r71Existinn T lPronosed il Under Const. Basement Finish 4-3-,75 % Gutters & Downsoouts METAL S/F GD Bath Floor VINYL GD
<br />Desian (Stvle) MULTI LEVEL iX:1 Outside EniN/Exit lXf Sumo Pump Window Tvpe DH/SLlDDER AVG G Bath Wainscot FIBERGLASS AVe:.
<br />Year Built 2006 Evidence of illnfestation Storm Sash/Insulated YES Car Storane il None
<br />Effective Age (Vrs) 0 " o Dampness o Settlement Screens YES [8J Drivewav # of Cars 3
<br />Attic I None Heatina rx1 FWA IT THWBBlr TRadiant Amenities I i Woodstovels) # Drivewav Surtace CONCRETE
<br />l Drop Stair o Stairs l Other 1Fuei GAS !Z;! Fireplace(s) # 1 o Fence ~ Garage # of Cars 3
<br />l Floor IX1 Scuttle Coolina IX1 Central Air Conditionino l Patio/Deck il Porch "1 Carnort # of Cars
<br />o Finished o Heated o Individual -10 Other o Pool o Other [8J Att, ODet. o Built-in
<br />Aooiiances C3J Refrioerator C3J Ranae/Oven C3J Dishwasher C3J Disoosal C3J Microwave 0 Washer/Dryer 0 Other (describe\
<br />Finished area above grade contains: 5 Rooms 2 Bedrooms 2 Bath(s) 1,786 Sou are Feet of Gross Living Area Above Grade
<br />. Additional features (snecial enerov efficient items, etc,), MULTI LEVEL IN GOOD CONDfTlON LOW6R LEVEL FNISHED TRIPPLE ATTACHED
<br />GARAGE WITH OUTSIDE ENTRY ON LARGE RURIIl LOT
<br />Describe the condition of the prooertv (includina needed reoairs, deterioration, renovatior,s, remodelino, etc\. THERE ARE NO APPARENT FUNCTIONAL OR
<br />EXTERNAl INADEQUACIES, THE SUBJECT IS WELL SUITED TO IT'S SITE AND COMPATiBLE WITH SURROUNDING PROPERl1ES,
<br />Are there any ohvsical deficiencies or adverse conditions that affect the IIvabilitv, sOlll1dness, or structurallntearltv of the property? DYes IX1 No If Yes, describe
<br />Does the oronertv nenerailv conform to the neiQhborhood (functional utllitv, stvle, condition, use, construction, etc,)? IX1 Yes r l No If No, describe
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<br />Freddie Mac Farm 70 March 2005
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<br />Fannie Mae Form 1004 March 2005
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<br />Form 1004 - "WinTDTAL" appraisai software by a la mode, inc, -1-800-ALAMODE
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