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  1. ' Edited Form File: D:\Pangaea\2055p1.frm
  2. ' Date Created:    21-Aug-1997 08:58:27
  3. '
  4. ' Fonts
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  236. ' Lines
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  241. '
  242. ' Images
  243. I,0,0,Fanmae2.tif
  244. '
  245. ' Text Strings
  246. T,33,23,5,0,Desktop Underwriter Quantitative Analysis Appraisal Report
  247. T,501,27,1,0,File No.
  248. T,27,43,1,0,THIS SUMMARY APPRAISAL REPORT IS INTENDED FOR USE BY THE LENDER/CLIENT FOR A MORTGAGE FINANCE TRANSACTION ONLY.
  249. T,13,57,2,0, Property Address
  250. T,313,57,2,0,City
  251. T,449,58,2,0,State
  252. T,507,58,2,0,Zip Code
  253. T,13,72,2,0, Legal Description
  254. T,449,73,2,0,County
  255. T,13,88,2,0, Assessor's Parcel No.
  256. T,310,89,2,0,Tax Year
  257. T,377,89,2,0,R.E. Taxes $
  258. T,478,89,2,0,Special Assessments $
  259. T,13,103,2,0, Borrower
  260. T,199,104,2,0,Current Owner
  261. T,431,104,2,0, Occupant
  262. T,488,104,2,0, Owner
  263. T,536,104,2,0, Tenant
  264. T,586,104,2,0, Vacant
  265. T,1,117,8,16777215,SUBJECT
  266. T,14,118,2,0, Neighborhood or Project Name
  267. T,313,118,2,0,Project Type
  268. T,385,119,2,0, PUD
  269. T,434,119,2,0, Condominium
  270. T,517,119,2,0,HOA $
  271. T,598,119,2,0,/Mo.
  272. T,13,134,2,0, Sales Price $
  273. T,137,134,2,0,Date of Sale
  274. T,242,134,2,0,Description / $ amount of loan charges/concessions to be paid by seller
  275. T,13,150,2,0, Property rights appraised
  276. T,133,150,2,0, Fee Simple
  277. T,201,150,2,0, Leasehold
  278. T,255,150,2,0,Map Reference
  279. T,439,150,2,0,Census Tract
  280. T,13,166,1,0, Note: Race and the racial composition of the neighborhood are not appraisal factors.
  281. T,458,180,3,0,Single family housing
  282. T,538,180,3,0,Condominium housing
  283. T,13,182,3,0, Location
  284. T,73,182,3,0, Urban
  285. T,124,182,3,0, Suburban
  286. T,174,182,3,0, Rural
  287. T,214,182,3,0, Property values
  288. T,288,182,3,0, Increasing
  289. T,354,182,3,0, Stable
  290. T,408,182,3,0, Declining
  291. T,460,191,3,0,PRICE
  292. T,517,191,3,0,AGE
  293. T,541,191,3,0,PRICE
  294. T,598,191,3,0,AGE
  295. T,566,196,4,0,(if applic.)
  296. T,13,198,3,0, Built up
  297. T,73,198,3,0, Over75%
  298. T,124,198,3,0, 25-75%
  299. T,174,198,3,0, Under25%
  300. T,214,198,3,0, Demand/supply
  301. T,288,198,3,0, Shortage
  302. T,354,198,3,0, In balance
  303. T,408,198,3,0, Over supply
  304. T,457,201,3,0,$ (000)
  305. T,517,201,3,0,(yrs)
  306. T,538,201,3,0,$ (000)
  307. T,598,201,3,0,(yrs)
  308. T,13,213,3,0, Growth rate
  309. T,73,213,3,0, Rapid
  310. T,124,213,3,0, Stable
  311. T,174,213,3,0, Slow
  312. T,214,213,3,0, Marketing time
  313. T,288,213,3,0, Under 3 mos.
  314. T,354,213,3,0, 3-6 mos.
  315. T,408,213,3,0, Over 6 mos.
  316. T,488,213,3,0,Low
  317. T,569,213,3,0,Low
  318. T,487,229,3,0,High
  319. T,569,229,3,0,High
  320. T,13,231,2,0, Neighborhood boundaries:
  321. T,472,244,2,0,Predominant
  322. T,553,244,2,0,Predominant
  323. T,1,251,8,16777215,HEIGHBORHOOD
  324. T,13,276,2,0, Dimensions
  325. T,289,276,2,0, Site area
  326. T,455,275,2,0, Shape
  327. T,13,291,2,0, Specific zoning classification and description
  328. T,13,305,2,0, Zoning compliance
  329. T,106,305,2,0, Legal
  330. T,151,306,3,0, Legal nonconforming (Grandfathered use)
  331. T,324,306,2,0, Illegal, attach description
  332. T,446,306,2,0, No zoning
  333. T,13,319,2,0, Highest and best use of subject property as improved (or as proposed per plans and specifications):
  334. T,413,320,2,0, Present use
  335. T,486,320,2,0, Other use, attach description.
  336. T,13,336,1,0, Utilities
  337. T,397,336,1,0, Off-site Improvements
  338. T,55,337,2,0,Public
  339. T,122,337,2,0,Other
  340. T,257,337,2,0,Public
  341. T,324,337,2,0,Other
  342. T,507,337,2,0,Type
  343. T,565,337,2,0,Public
  344. T,590,337,2,0,Private
  345. T,1,344,8,16777215,SITE
  346. T,13,352,2,0, Electricity
  347. T,195,352,2,0, Water
  348. T,397,352,2,0, Street
  349. T,13,367,2,0, Gas
  350. T,195,367,2,0, Sanitary Sewer
  351. T,397,367,2,0, Alley
  352. T,13,380,2,0, Are there any apparent adverse site conditions (easements, encroachments, special assessments, slide areas, etc.)?
  353. T,468,381,2,0, Yes
  354. T,501,381,2,0, No
  355. T,517,381,2,0, If Yes, attach description.
  356. T,238,397,2,0, Interior and exterior inspection  
  357. T,375,397,2,0,Exterior inspection from street
  358. T,512,397,2,0, Previous appraisal files
  359. T,13,396,2,0, Source(s) used for physical characteristics of property:
  360. T,31,412,2,0, MLS
  361. T,70,412,2,0,Assessment and tax records
  362. T,195,412,2,0,Prior inspection
  363. T,271,412,2,0, Property owner
  364. T,348,411,2,0, Other (Describe):
  365. T,569,429,2,0, Yes
  366. T,602,429,2,0, No
  367. T,13,429,2,0, No. of Stories
  368. T,125,428,2,0, Type (Det./Att.)
  369. T,243,429,2,0, Exterior Walls
  370. T,353,429,2,0, Roof Surface
  371. T,463,428,2,0, Manufactured Housing
  372. T,13,443,2,0, Does the property generally conform to the neighborhood in terms of style, condition, and construction materials?
  373. T,462,443,2,0,Yes
  374. T,493,443,2,0, No
  375. T,509,443,2,0, If No, attach description.
  376. T,13,459,3,0, Are there any apparent physical deficiencies or conditions that would affect the soundness or structural integrity of the improvements or the livability of the property?
  377. T,28,474,2,0, Yes
  378. T,65,474,2,0, No     If Yes, attach description.
  379. T,13,491,3,0, Are there any apparent adverse environmental conditions (hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate
  380. T,1,494,8,16777215,IMPROVEMENTS
  381. T,13,505,2,0, vicinity of the subject property?
  382. T,155,505,2,0, Yes
  383. T,192,505,2,0, No     If Yes, attach description.
  384. T,13,522,2,0, I researched the subject market area for comparable listings and sales that are the most similar and proximate to the subject property.
  385. T,13,539,2,0, My research revealed a total of
  386. T,184,539,2,0,sales ranging in sales price from $
  387. T,391,539,2,0, to $
  388. T,488,539,2,0, .
  389. T,13,555,2,0, My research revealed a total of
  390. T,184,555,2,0,listings ranging in list price from $
  391. T,391,555,2,0, to $
  392. T,488,555,2,0, .
  393. T,12,567,2,0, The analysis of the comparable sales below reflects market reaction to significant variations between the sales and the subject property.
  394. T,43,582,1,0,ITEM
  395. T,118,582,1,0,SUBJECT
  396. T,239,582,1,0,SALE 1
  397. T,385,582,1,0,SALE 2
  398. T,530,582,1,0,SALE 3
  399. T,13,613,2,0, Address
  400. T,13,627,2,0, Proximity to Subject
  401. T,13,643,2,0, Sales Price
  402. T,93,645,1,0, $
  403. T,238,645,1,0, $
  404. T,383,645,1,0, $
  405. T,528,645,1,0, $
  406. T,93,660,1,0, $
  407. T,182,660,1,0, $
  408. T,327,660,1,0, $
  409. T,472,660,1,0, $
  410. T,13,659,3,0, Price/Gross Liv. Area
  411. T,12,674,4,0, Data/Verification Sources
  412. T,418,691,4,0,+(û) $Adjustment
  413. T,563,691,4,0,+(û) $Adjustment
  414. T,111,691,2,0,DESCRIPTION
  415. T,200,691,2,0,DESCRIPTION
  416. T,273,691,4,0,+(û) $Adjustment
  417. T,345,691,2,0,DESCRIPTION
  418. T,490,691,2,0,DESCRIPTION
  419. T,16,691,4,0,VALUE ADJUSTMENTS
  420. T,13,706,2,0, Sales or Financing
  421. T,13,720,2,0, Concessions
  422. T,13,736,2,0, Date of Sale/Time
  423. T,13,751,2,0, Location
  424. T,12,766,2,0, Site
  425. T,13,781,2,0, View
  426. T,13,795,2,0, Design (Style)
  427. T,13,811,2,0, Actual Age (Yrs.)
  428. T,13,825,2,0, Condition
  429. T,13,844,2,0, Above Grade
  430. T,98,842,3,0,Total
  431. T,125,842,3,0,Bdrms
  432. T,155,842,3,0,Baths
  433. T,187,842,3,0,Total
  434. T,215,842,3,0,Bdrms
  435. T,244,842,3,0,Baths
  436. T,332,842,3,0,Total
  437. T,360,842,3,0,Bdrms
  438. T,390,842,3,0,Baths
  439. T,478,842,3,0,Total
  440. T,505,842,3,0,Bdrms
  441. T,535,842,3,0,Baths
  442. T,13,858,2,0, Room Count 
  443. T,13,872,2,0, Gross Living Area
  444. T,155,872,2,0,Sq. Ft.
  445. T,244,872,2,0,Sq. Ft.
  446. T,389,872,2,0,Sq. Ft.
  447. T,534,872,2,0,Sq. Ft.
  448. T,13,888,3,0, Basement & Finished
  449. T,13,903,2,0, Rooms Below Grade
  450. T,13,917,2,0, Garage/Carport
  451. T,201,962,7,0, +
  452. T,346,962,7,0, +
  453. T,492,962,7,0, +
  454. T,13,962,2,0, Net. Adj. (total)
  455. T,245,964,1,0, $
  456. T,391,964,1,0, $
  457. T,536,964,1,0, $
  458. T,1,975,8,16777215,QUANTITATIVE SALES COMPARISON ANALYSIS
  459. T,13,981,3,0, Adjusted Sales Price
  460. T,13,993,2,0, of Comparables
  461. T,245,995,1,0, $
  462. T,391,995,1,0, $
  463. T,536,995,1,0, $
  464. T,13,1009,2,0, Date of Prior Sale
  465. T,93,1025,1,0, $
  466. T,182,1025,1,0, $
  467. T,327,1025,1,0, $
  468. T,472,1025,1,0, $
  469. T,13,1024,2,0, Price of Prior Sale
  470. T,13,1042,2,0, Analysis of any current agreement of sale, option, or listing of the subject property and analysis of the prior sales of subject and comparables:
  471. T,13,1073,2,0, Summary of sales comparison and value conclusion:
  472. T,13,1181,3,0, The appraisal is made
  473. T,115,1181,3,0, "as is",
  474. T,170,1181,3,0, subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been
  475. T,13,1195,3,0, completed, or
  476. T,86,1195,3,0,subject to the following repairs, alterations or conditions:
  477. T,14,1210,2,0,BASED ON AN
  478. T,88,1210,2,0,EXTERIOR INSPECTION FROM THE STREET OR AN
  479. T,310,1210,2,0,INTERIOR AND EXTERIOR INSPECTION, I ESTIMATE THE MARKET VALUE, AS
  480. T,12,1223,2,0, DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS  REPORT TO BE $  
  481. T,465,1223,2,0,, AS OF
  482. T,610,1225,2,0, .
  483. T,1,1238,4,0,This form was reproduced by United Systems Software Company  (800) 969-8727
  484. T,292,1238,4,0,Page 1 of 3
  485. T,369,1238,4,0,10 CH.
  486. T,521,1238,4,0,Fannie Mae Form 2055      9-96
  487.