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HomeMy WebLinkAbout046 10 <i-.-.~ ~C<'. \:...~ \D{ZS) ID ....'- STATE OF WASHINGTON County of Jefferson IN THE MATIER OF A ) AND DETERMINATION ) TO DECLARE CERTAIN ) COUNTY PROPERTY ) AS SURPLUS ) RESOLUTION NO. 4(0 - 10 WHEREAS, it is the desire of the County Commissioners of Jefferson County to dispose of surplus property; Wld WHEREAS, the County Commissioners of Jefferson County have indicated a need to dispose of surplus real property described below, for public auction to be held on December 14th. 2010 at the Jefferson County Courthouse. Parcel Number 702-273-005 being described as: That portion of the south half of the Southwest quarter of Section 27, Township 27 North, Range 2 West W.M. lying westerly of the Westerly line of State Route 101 and as described in ~efferson County Auditors File Number 333892. Situate in the County of Jefferson, state of Washington. WHEREAS, the requirement ofR.C.W. 36.34.020 that Wl intention to declare surplus be published with a Notice of Public Hearing regarding the disposal of any County property has been met Wld the public hearing held on October 25th, 2010 at 10:00 a.m.; Wld WHEREAS, the Commissioners heard no objection to the declaration of this property as surplus. NOW, THEREFORE, BE IT RESOLVED, by the Commissioners of Jefferson County that they make a rmding Wld determination as required by RCW 36.34.050 to declare the particularly described property as surplus Wld allow the Treasurer to proceed with the disposition of said surplus property for a '..; minimum bid of$99,000.00. ~ APPROVED this~ day of October, 2010. JEFFERSON COUNTY BOARD OF COMMISSIONERS LZd(~_ David SullivWl, ChairmWl ATTEST:~ a l6.J2 Lorna L Delaney, CMC Clerk ( f the Board e><~ AbS:ex\ro_ Phil Johnson, Member ~.~ Jo Austin, Member .. , ~,.:" , fUe No. OUIL FALLS SUMMARY APPRAISAl REPORT OF PARCEL 702273005 (SEE ATTACHED LEGAl) IN SEC 27, TWP 27N, R 2W, WM JEFFERSON COUNTY, WASHINGTON AS OF OCTOBER 7, 2010 CURRENT OWNER JEFFERSON COUNTY PREPARED FOR JUDY MORRIS JEFFERSON COUNTY TREASURER PO BOX 1220 PORT TOWNSEND, WA 98368 PREPARED BY RAlPH ERICKSEN CONSULTANTS NW, ARBDOL, INC. PO BOX 171 PORT TOWNSEND, WA 963689 Form OCVR - 'TOTAL for Windows' appraisal soflwaJe by a Ja moOs, inc. -1-800-ALAMODE ~ ~ Ale No. DUIL FALLS TABLE OF CONTENTS APPRAISAL CERTIFICATE 3 PURPOSE OF THE APPRAISAL 4 NEIGHBORHOOD DATA 4 SUBJECT DATA 4-5 ZONING, HIGHEST AND BEST USE 5 MARKET FOR THE SUBJECT 5 SALES COMPARISON 5-6 CORRELATION 7-8 RESIDENTIAL MARKET CONDITIONS ADDENDUM 9-13 STATEMENT OF LIMITING CONDITIONS 14-15 RESUME 16 LICENSE 17 LOCATION MAP 18 PARCEL MAP 19 LEGAL DESCRIPTION 20 PHOTOS 21-25 Form DGVR - "lllTAL lor WImIows' appraIsal software by a Ja mode, Inc. - l-BO().ALAMODE ," , ~ Ale No. OUIL FAlLS APPRAISAL CERTIFICATE I certify that upon application for valuation by: JUDY MORRIS JEFFERSON COUNTY TREASURER PO BOX 1220 PORT TOWNSEND, WA 98368 the undersigned personally inspected the following property: PARCEL 702273005 (SEE ATTACHED LEGAL) SECTION 27, TOWNSHIP 27 NORTH, RANGE 2 WEST, WM JEFFERSON COUNTY, WASHINGTON and to the best of my knowledge and belief, the statements contained herein are true and correct, and that neither the employment to make this appraisal nor the compensation is contingent upon the value reported, and that In my opinion, the value of the subject property, as of October 7, 2010 is: NINETY NINE THOUSAND AND N0I100 DOLLARS ($ 9S,000.00) The subject property was appraised as a whole, in fee simple titie, unencumbered and subject to the contingent and limit ins conditions outlined herein. Ralph Ericksen 1701229 WA Fonn DCVR - 'TOTAL lor WJrnjOWS' appralsaJ software by a Ia mode, inc. -1-8OlJ-ALAMOOE - 3 - ,. < Ale No. DUlL FALLS PURPOSE OF THE APPRAISAL The subject of this appraisal Is a tract of land just south of the Quilcene village that is currently owned by Jefferson County. Thera has evidently been interest by an adjoining property owner to purchase the subject tract. As Is a requirement of the County in the disposition of a County owned tract that might be sold, that an appraisal is needed in order to arrive at a fair conclusion of vaiue for the tract. The purpose of this appraisal is to provide the required estimate of value of the subject tract as a basis for the negotiation and a record of the evaluation procedure. NEIGHBORHOOD DATA The neighborhood would generaliy be described as the area between the south end of the Quilcene village and about Walker Pass (the high point of the highway as It crosses the Mount Walker area between Quilcene and Brinnon. Qullcene and Brinnon are resldentiei communities but both are qulta small villages in an otherwise very rural portion of southeast Jefferson County. The neighborhood boundaries might generally be described as laylng on both sides of Highway 101 between the Quilcene village and the top of Walker Pass. The highway heads generally south out of the Quilcene village to the crossing of the Big Qullcene River, then begins to climb toward Walker Pass. The highway is west of Quilcene Bay but there is no direct access to the land along the bey from this described neighborhood between the Qullcene villaga and the foot of Mount Walker to the south. The area west of the highway is the foot hills of the Oiympic Mounteins. The National Forest begins about one half mile to the west of the subject and crosses the highway onto Mount Walker about a quarter mile south of the subject. There Is a National Rsh Hatchery compound on the west side of the highway at the foot of the hID on the QuOcene River. There are only a few scattered residential properties, mostly along or near the highway but there is a small residential plat (Hlddendale Tracts) just north of the subject. However, most of the privaIely held land, especIally on the west side of the highway and to the north of the subject, Is in forest producDon. The National Forest extends to the west through the Olympic Mountains. Highway 101 Is the primary loop road around the entire Olympic Peninsula. There are a few County and privaIe roads off the highway that provide access to local properties or connect with Forest Service roeds but none cross the mounteins to the west or connect to the bey to the east. There is power and phone along the highway and most of the secondary local access roads but there is no public water supply or sewer service. There Is some minor shopping In Quilcene and Brinnon but most shopping, including typical grocery shopping, would be about 20 to 25 mOes north in Port Hadlock or Port Townsend or closer to 30 miles northeast, across the Hood Canal Bridge, then south in Kitsap County to the PoulsbolSilverdale area. SUBJECT DATA The subject of this appraisal Is a tract of land on the west side of Highway 101. It Is about It is about half way between the Qullcene ViOage and Walker Pass but maybe closer to a quarter the way up the hill from the river to the pass. According to the Jefferson County Assessor's Maps, It contains about 13.17 acres. It has a very irregular shape. Most of the tract Is almost square but there are fingers of the tract near the southwest comer and another at the southeast comer (there are two separate small tracts near the southwest comer and another thet fronts on the highway near the southeast comer that are owned by others). The east side fronts on the highway, the west side generally fronts on the Big Qullcene River. The area along the highway Is the high ground, It Is almost level along the frontage, but then begins to slope off quite steeply into the ravine and the locetion of the river. The area along the highway appears to be easily accessible, Riverdale Drive ends at the north fine near the river and there Is what appears to be an easement road (Stagecoach Lane) off the highway that servas as access to some neighboring properties. Stagecoach Lane appears to cross pert of the subject. There is also a driveway, marked as 297 738 Hwy 101, that enters and crosses the subject to the north of Stagecoach Lane. There is a gate on this driveway near the beginning of the steep slope. It appears to serve as access to Parcel 702273011, which avidentiy contains a small cabin. Between the driveway and Stagecoach lana, there is a double garage that was avidently built in about 1978. The garage Is a framed building with matel roof and siding, concrete floor and two single doors. There Is a car parked In the garage that has probably been there for many years. The car appears to be from the mid to late 1980's. The trees have grown up around the building and there is no longer a driveway to the doors and access by foot is difficult due to the undergrowth. The land is wooded, It Is a mix of specIes and age. Along the highway, It Is mostly Conifer and generally Immature for harvest. There may be some timber value to the east area within the next 20 to 30 years but the quality of the logs and finished product would probebly be enhanced If allowed additional years. The west FonD DCVR - 'TOTAL for WIndows' eppraisal software by a Ie mode, inc. -l-8llIl-ALAMODE - 4 - , :!- Ale No. oun. FALLS portion, along the river, Is mostly Alder, Maple, etc. Some are now quite large but harvest would not be allowed along the river. The strip in lha middle contains more mature trees but the land is steep as it slopes into the ravine to the river, harvest could be difficult and there could be requirementa to protect the river and the exposad ground. There could be some demand for the available timber but there could also be some negative impact on value in a residential potential if the trees are removed as a typical harvest crop. Due to trees on the subject and surrounding tracts, there is no view other then the highway and the forest There could be some territorial and foot hill view from the high ground if some of the trees were removed but that would probably be a selective process depandent upon site potential. There is power and phone along the highway but there is no Improved water source and septic would be required for any kind of residential devaJopment. ZONING, HIGHEST AND BEST USE According to the current Land Use Map for Jefferson County, the subject is shown to be Rural Rasldentialthat allows one residential unit to five acres. The subject conlalns just over 13 acres but would only qualify for two potential sites, unless additional land was combined with the tract. There Is very Iitlle demand for residential tracts In the vicinity, as is demonstrated by the very umil. Iii buildout and current limited sales. There is no demand for conversion to some other use and it is highll unlikely that a zoning change would be allowed even If an application was made. Based on lha current allows Ie legal use and demand in the area, it is believed that lha eurrent Rural Residential potential should be co sidered lha highest and best use of the subject. MARKET FOR THE SUBJECT Market conditions in the Jefferson County are currently q ita limited ,and In lha Quilcene area, are very limited. It is partiy due to ganeral economic conditions in he Pacific Northwest and the Country as a whole. However, market conditions In the Qullcene area are typi :ally slow as compared to other areas in the greater Puget Sound Region and even Jefferson County. This is very rural area, the population density is much less than most other areas or Counties around the entire wes half of Washington State. It is several miles from employment centers, general shopping and other servi~[~ That being the case, the market in this area would probably usually be somewhat limited, even in stronger eponomlc times in the rest of the State or the Country In general. Stm, there are parlodic sales, there are locals [and a few potential purchesers from outside the area that have Interest hare. To some in the market, distance tom major metropolitan areas is sometimes considered to be a plus. In single family residences, the parket time in the Quilcene area can easily run to a year. Building sites can run longer and larger acreage 9cts can extend to two years or more. The market time for the subject would probably be over one year but ess than two years. See Residenital Market Conditions Addendum. I I SALES COMPARISON I In order to arrive et a fair conclusion of value for the SUb~. a survey was made of reasonably recant land sales. Sales were limited but the following are believed be the best available for use with this subject. 1. Parcel 901132002 off Beaver Valley Road sold 7/0~!<<? $360,000. It Is just east of the Chimacum Intersection, there did not appear to be a direct access l< Beaver Valley Road but Skins Road from Chlmacum Road ends at the tract. It contained about 121 acres, lays up lha west side of a hill and was quite heavily wooded with salable timber. It Is in a Commercial Forest Zone but Immediately adjacent to Rural Residential and Agrlculturel tracts. The Commercial Fore t designetlon allows for only one residential unit to 80 acres. As such, this tract would only be considered a ngle site. However, due to lha proximity of the Rural Residential land, there might be the possibility of at least partial rezone. Based on the totaJ size, the unit value was about $3,000 par acre. 2. Parcel 801204006 on Center Road sold 8/09 for $179~00. The tract is about a half mile north of Old Tarboo Road, on the east side of Center Road at the fins! curve to the northeast from Tarboo. Only the northwest comer actually fronts on the road. It Is zoned ural Forest, which allows only one residential unit par 40 acres. The tract contelns about 39.5 acres but thetne residential unit would most likely be allowed. However, the power lines end about a half mile to the so and about a half mile to the north. Extension of the line could be expensive. The land rolls off to the east, there are some steep ravines and lha trees were harvested prior to the sale. Based on size, the unit value about $4,532 per acre. 3. Parcel 701062001 on Nlckelbush Lane sold 3110 for $130,000. There Is an easement over three adjacent proparties as access to the northeast corner of the tract. Nlckelbush Lane Is a narrow easement that had a crushed rock surface but the rock has become Integnsted Into the natural soil and the surface can become muddy during lha wet months. The tract Is square and conteins about 40 acres which Is zoned Rural Forest with one unit to 40 acres allowed. There are cabins on the two adjacent tracts but they do not have electric powar. The power line appears to be about 1,000 feat by easement road from this tract. It has a gentle roll to near level. There are trees but it was logged several years ago and it appears that some of the new growih was controlled by some sort of livestock for a few years. There are some evergreen trees but most appeared to be deciduous. It might be considered a forest tract but there did not appear to be any attempt to grow trees as a commercial oparation. The unit value was about $3,250 par acre. 4. Parcel 802111001 on Foot Hill Drive sold 9108 for $150,000. It Is immediately adjacent to the Snow Creek Fonn DCVR - 'TOTAL for WIndows' apjJJa!saJ sof\Wale by a Ia mods, inc. -1-8lJO..ALAMOOE - 5 - > FUe No'<'UIL FALLS Ranch plat but that subdivision Is In a vary rural araa, just northwest of Crocker Lake. There are probably less than 100 lots in the subdivision, they are the smaller suburban type, and range between about a third of an acre to just over an acre. Even though the plat has existad for more than 30 years, the level of bulldout Is probably less than 30 percent. The tract contains about 27.5 acres and is in a Rural Residential zone, which allows one residential unit to 5 acres. As such, it could be subdivided into about five residential trads. It appears to have access to the Snow Creek Ranch water system but whether or not there would be taps for a 5 lot subcflVision is unknown. Power and phone were available to the northeast portion, there was a primitive minimally Improved driveway, the east portion was mostiy level but could be wet and the wast portion sloped quite steeply up tha hill and was wooded but the trees were immature, maybe 20 to 30 years eway from an early harvest. The unit value was about $5,455 per acre. 5. Parcel 702272002 on Hwy 101, about a quarter mile north of the subject, sold 5107 for $120,000. It Is on tha east side of the highway, there Is a driveway but it angles up the steep and rocky slope to the higher ground. The high ground Is less steep but does slope generally north into the river valley. It Is almost triangular, due to the diagonal dtracIIon of tha highway. it contains about 20.5 acres and is about 1,320 feet long on the east side. The land to the east is commercial forest, the land across the highway to the wast Is Rural Residential (one unit to 5 acres). This tract is zoned Rurel Residential One Unit to 20 Acres and can not be subdivided. There has bean some selective logging on the south half but the north remains generally wooded. There is power and phone along the road but no well or septic. The unit value was about $5,854 per acre. 6. Parcel 701194023 On E QuUcene Road sold 12/0a for $115,000. It Is just beyond the Undsay Hill Road intersection, it is two percels and leys on a fairly steep slope up from the road. The driveway up from the road Is vary steep and quite rough, there is a gate at the top of the cut to the road. The percel fronting on the road contains about a acres, the other Is immedtately to the east and contains about 10 acres. Both are zoned Rural Resldantial, Ona Unit to Five Acres and there is the potantial for three residential trads. Other than the primitive driveway and pipe gate, there are no Improvements and most of the traes were removed a few years ago. However, with the traes gone, thare Is view of the bey and the foot hills of the Olympic Mountains on the other side. The view potantiallncreases to the higher elevations but the access Is more difficult toward the higher ground to the east. The unit value was about $6,389 per acre. 7. Parcel 601112006 on Coyle Road sold 4109 for $96,000. It Is on the east side of the road, across from the north Intersection of Old Coyle Road, about a mile south of the Thomdyke Road intersection. It Is on or near the top of tha ridge of tha Toand08 Peninsula and there is some view access to the west to the Olympic Mountains but the land across the road was recentiy logged and the view will be lost again when the new trees bagln to grow back. There is powar and phone along the road but no other ublities. The tract Is wooded but the traes are probably about 20 to 25 years from maturity. It contains about 12.5 acres and is in a one unit to 20 acre zone but it was legally sold and it is assumed that it would be allowed to qualify as a single family residential site. The unit value was. about $7,680 per acre. a. Parcel 902381001 off Und Road sold 7108 for $86,000. It Is a 10 acre tract In a somewhat remote araa above tha valley at the south end of Discovery Bay. It is above Highway 101 on tha east ridge, it is accessed off Eaglemount Road, then Und Road and finally a BPA powarilne easement with gate that is usually locked. It is right on top of t he ridge with good view of the valley and the foot hills to the west It was logged several years ago and tha new traes appeared to have only about 10 to 12 years growth at the time of sale. In spite of the powerilne easement, the lines and towers are the main feeds for the Peninsula and would not provide power for Individual sites. The nearest residential power supply is about a quarter mile along Eaglemount Road but there may be easements needed to bring it to the property. The tract is in a one unit to ten acre zone but would probably ba considered a lagallot of record and buildable, provided that the other typical requirements could be mal The unit value was about $8,600 per acre. 9. Parcel 702024027 at 796 Lords Lake Loop Road sold 5/10 for $85,000. It is a live acre tract in a one unit to 5 acre zone. It is part of a four lot short plat that was evidentiy complated in about 1996. The driveway appeared to have bean recentiy complated or updated but it was probably done prior to the sale. The tract is wooded but there Is evidentiy a clearing back from tha road, there is now a building permit for a small house and garage but no evidence that construction has actually started. There is power along the road, there was a septic permit application but the permit was not Issued until after tha sale and the system has since bean installed. There Is no view due to surrounding traes. The unit value was about $17,000 per acre. . !'@ Form OCVR - 'TOTAL Illr WIrnIOWS" appraIsal soflwara by a Ia mode, inc. -1.aot1-AlAMOOE - 6 - J . , Ale No. OUIL FALLS CORRELATION Before discussing the similarities, or lack thereof, fo the subject, it is quite apparent that Iha unit value or per acre value can be heavily affected by the size of the tract. Small, otherwise similar, parcels tend to have Iha hlgheat unit value, the largeat tend to have the lowest unit value. The following Is a listing of the above properties with the acreage and the unit value: 1. Parcel 901132002 120 Acres $ 3.000 Per Ac 2. Parcel 801204006 39.5 Acres 4,532 Per Ac 3. Parcel 701082001 40 Acres 3,250 Per Ac 4. Parcel 802111001 27.5 Acres 5,455 Per Ac 5. Parcel 702272002 20.5 Acres 5.854 Per Ac 6. Parcel 701194023 18 Acres 6,389 Per Ac 7. Parcel 601112006 12.5 Acres 7,680 Per Ac 8. Parcel 902361001 10 Acres 8,600 Per Ac 9. Parcel 702024027 5 Acres 17,000 Per Ac With the exception of sale 3, the unit values Increase In each sale as the size of the tract decreases. There are a number of factors that influence value but tha size appears to be significant, especially In tracts that are otherwise reasonably similar. Sales 2 and 3 are about the same size, both had bean logged and powerwas not readily available but the unit value of sale 3 was much lower than In sale 2. There could be some Influence based on access but buyer and seller reacllon to other stimulus can also be reflected in the negotiations. Sale 3 aside, the other sales show consistency in the affect of the size. The value of land is heavily affacted by potential use. All of the comparable sales included here have the potential for some amount of residential use, even though most have only bean used to this point for forest production, either by intent or by default. The value of a small tract with residential use potential is probebly mostly related to the residential use potential. location, proximity to goods and services, view, ete. can significantly affect the value but, land that Is not buildable does not usuelly have much value and view, ete. do not add significantly to an otherwise unbuildable tract. That being the cese, the greateat portion of the value Is found In that portion of the land that would be considered Iha minimum to qualify as a single famity residential site. Sale 9 is a 5 acre tract In a one unit to five acre zone, It has the lowest sala price but the highest per acre value. Sale 1 Is considered a forest tract but would also allow one residential unit but It has the loweat unit value. That contribution value of a single residence potential In the 120 acre tract tends to be lost In the extreme size. The subject Is wooded and has frontage on the Big Quilcene River. Sale 5 Qn closest proximity to the subject) is also mostly wooded and lhare Is a small creek that crosses the northerly portion. The creek, and in the case of the subject, the river, might have some esthetic value but it would present a restriction to removing trees in the required setback area and usa potential. The trees on the east portion of the subject, that area closer to the hlghwaywhlch Is the more level, are more like the maturity of the forest in sales 7 and not yatto a point where It would be feasible to harvest. The trees on the subject tIjat might present soma value as a crop are more like the forest In sale one but they are on the steepest slope and probebly the most difficult to harvest. The subject Is not of adequate size to be considered a rural or commercial foreat tract and probably has Iha greateat potential In resldantial use. Ramoving all of the salable trees could adversely affect the appeal for the residential use. Sales 4 through 8 are probably the best indicators for the subject because they are closest to the size of the subject. Each has some significant differences from the subject and each other but the indicated unit values are in a fairly close range and consistent The subject Is just over 13 acres and sale 7 is about 12.5 acres and Fonn DCVR - 'TOTAL 1m' WirnlOWS" appmIsaI so1lware by a Ia mode, Inc. -1~.ALAMODE - 7 - " Flle No. OUIL FAlLS had a unit value of about $7,680 per acre. Sale 6 was larger, at 18 acres, and had a unit value of about $6,389 per acre. Sale 7 was wooded but maybe about 25 years Into the growth cycle. Sale 6 was logged several years ago but the topography was more similar to the subject. Based on review of aU of the sales Included here, but mostly sales 5 through 7, it Is believed that the unit value for the subject should be about $7,500 per acre. At that rate, the Indicated value would be about $98,775 for the 13.17 acres or rounded to $99,000. As stated In the Subject Data saction of this report, there is a double garage on the subject land. It was built in about 1978 and had matal roof and siding. It appeared to be in reasonably good condition but that is primarily due to the roofing and siding rather than any maintenance. However, it has become overgrown by trees, brush, atc. and there is no longer access to the building. An access could probebly be cleared and the building cleaned and restored but, glvan the current circumatances, It probably does not contribute signiflcanlly to the value of the subject as a whole. ESTIMATED VAlUE OF THE SUBJECT $ 99,000.00 Form OCVR - "lllTAL lor WIndOWS' apprnlsaJ soJtware by a Ja mode, Inc. -1-800-ALAMODE - 8 - << " RESIDEmAL MARKET CDNDITIDNS ADDENDUM BorrowerfCUenl NA PromrrtvAddress 101 CIlv Oui\cene . Countv Jefferson SIalB W. Zln Code 98316 Landar NA JeffersoD County is of about average geographical size in Western Washington but the population (only about 30,000 people) is muoh less than most other COllIlties in the Greater Puget SoWld Region. King County, including Seattle, Bellevue, other incorporated cities and the nual area into the Ce~tle MonntJlin.., bas a population density of about 1,200 people per square mile. Jefferson County has a density of only about 17 per square mile. As such, it is usually~' "1 to expand the seatdlllIe& for compatable sales and 1ely on some older sales when appI8ising real property in tbis area, even during boom periods in the more xum1 areaS. Comparable sales fur the three bedroom mubler on an lUblIn lot would most likely be found within the neighbmhood or a competing neighborhood in close proxbnity. However, comparable sales for a high value waterfront or view acreage plOP.Ill, in the more rwal8IeU might have an area of competition that could range into other counties, including all of the east side of the Olympic: Peninsula, the north half ofWhidbey 1$'''''''. the San Ivan 1slM\ll" and the area fiom about Stanwood and Carmmo Island north to the ('_...tUm Border. The local market conditions have been ""..npg over the past seven years. There was a period of very stroD8 ~And (I'~nnly called a boom period) that began in late 2003 and generally 1asted into late 2006. However, even as the market slowed in Jeft'erson County, it tapered off to a more normal trend locaUy. Sales decreased but tbeJe continues to be sales. Market time i:4cleased but is not really out oft1le norm fur this market area. Between the hP.ginnmg of2004 through almost the end of2006, it was not ,....,"lI8l to have market time to rmge between one day and maybe one to two months, ~i"lJ on the pJl)pertf, the location and the lMli~ ex.po;C1lltions oft1le seller. Cw:rently, market time might bcmorein thenmgeoffourto sixmontbs but some properties might take closer to a year. again dependi"lJ on the location, the p<uptdty and the ell.~ons of the seller. However, there ~ other ecouomic faetorlI intluenclng the market at this time and, depending on the financial condition of the seller, some I'Wi"lJ pm.es have been reduced, maybe below what would be an otherwise expecte4 market value. in otder to move the property more quickly fur some financia11y stressed seller. Also, WIder all market conditions, there are sales of real piO~ that are not COflSiden:d lII'D1S length. Some sales are between family m.embeIs, some are between partners, hn.,;ness or otherwise. some are to.settle marriage disillusion and there are those that ~ part of settling ~ where attorneys or pelWOIIlIl lep< .stntatives are basically liquidating estate assets. Still, those sales tend to be very IimiIed in this market and they do not genenilly have significant impact and would DOt usually be considcR:d as comparable sale data or a :reflection of the marltct conditions. T~lring sales over the past four years can give some insight into the general market trend. The following is a list "fthe land sales in a raDge of$SO.OOO to $SOO.OOO bet\V<lCD the betginning of 2004 and the present They are from the whole county and include resideDtiallots, acreage, water.front. ea:. LAND SALES IN J.I:il'1<l5KSON COUNIY 1/1/09 to 1I1/lO 1/1/08 to 1/1109 1/1107 to 111/08 1/1106 to 1/1107 1/1/05 to 1/1/06 1/1/04 to 1/1/05 111/03 to 111/04 1/1102 to 1/103 1/1/01 to 1/1/02 1/1/00 to 1/1101 197 176 324 409 520 379 290 237 201 207 As can be seen. the 2008 and 2009 sales are only slightly less than the number from 2000 through 2003 but stiD ICIISOnably close to what might be considered the nomud market Form MAP.PLAT - "TOTAL for WlntIOWS' apprnlsal software by a Ia mode, Inc. -1-800-ALAMOOE - 9 - " ~ 1 ;II RES MARKET CONDITIONS CONT. BoITllWll1'iCIhmt NA ProoetlVAddrBss 101 1r.Jtv Onilceno Cmmtv Jefferson StaIB W. Zln Code 98376 Lender NA conditions ~. New home sales can also be tracked in.lllllOb the same way to offer _ indication of the consIIw:lion activity locally. The fo1lowiDg is a 1istiIIg of the sales of new houses in Jeffilrson County in thelllllg\l ofSSO,OOOto $10,000,000 for the same period. NEW HOUSB SALES IN J.t2'l'~ON COUNTY 1I1I09to 1/1110 17 111108 to 111109 21 111107 to 111/08 33 111/06 to 111107 45 IItIOS to 1/1106 93 111104 to 111105 100 111103 to 1/1104 64 111/02 to 1/1103 51 11110 lito 111102 SO 1/1/00 to 1/1101 53 The following are the sa1es of used siDgle fiImily msidenccs on individua1 sitl:s.lDcluding lots, acreage, etc. for aU of Jeffe.aou County. USED SINGLE FAMILY RBSIDENTIAL SAUlS IIIlO9to 1/1/10 323 111108 to 111109 288 111107 to 1/1108 425 111106 to 111107 SSO 111105 to 111/06 649 1/1104 to 111105 714 111103 to 1/1/04 S89 111102 to 111103 S29 1/1101 to 111/02 485 111100 to 111/01 531 The three sale groups listed above c1eady dtauuw4klde the boom period between 2003 and 2006. The year 2005 8{)pol8ls the be the period of the :;b.~t sales of the used single fimrily residences, the years 2004 and 200S for the new siDgle famiJy residences and 2004 tl1roush 2006 for the vacant ilmd sales. Obviously, the sales for 2008 aml2009 are less than sales for the other years but the land sales are only slightly below that of2000 through 2002. new home sales are still at about half of wlmt sold in 2001 through 2003 and 2006 aml the sales of used single family resi\JP.ttce5 are more than half that sold in the iudividual YI:8Ili 2000 tl1roush 2002, 2006 and 2007. ActIIaUy the sales in 2008 are about 60 pe!\le:lll of the number for 2001 and about 68 peImlt of those in 2007. To this point, sales of 1and, new houses aml1lSed single 1iImily ~ are not all that far offwbat would be considered the lIOIm for this "",*",-, The klcal IDlIrket can ~y see somewhat sl10nger ~ periods within five year lntervaIs but ..._" periods similar to tbat 'Iihich ~ b.4w..... the eIId of2003 and the hilgj1l1ri11g of 2007 are eonsideml the .",;aGllJ.C aml OCGIII' somewhere in the:range of seven to fifIeen year intervals. Following the .,-Ah"",e ........RrKi periods, there is usually a leveling of """""'" and value for a period. maybe Sl'JVCrlIl months to maybe a eouple of years but. in the past 2S years, there bas never been a ~ conee\ion period where va1ue ofmd property, genemIly, d""lined due to the market l:OUf1itions. Jn Older to better IlDdersIand the wm:nt market couditiODS in Jtd'li".....11 County, a sorvey VIlIS made of all sales ofsiDgle family ~ from January 1 of2006 through January 31. 2009. Specifically ~ were .l"ojlelties that had sold twice in the period. The following is the 1ist of each single family remd"""", sold twice and a comparison of the affeet on the VlII.ue due to tlme. Of cow:se there can be other faeIors tbat might have impact on increasing or dec.~ value, such as mnodelin& damage or uegIec:t, ~I cixp............,ofthe aeI1er, etc. but, after cheekingforrecerrt imp!:ovewo'll... permits, etc. thllse are believed to be areliab1e base for Form MAP.PLAT - 'TOTAL for WIndowS' appralsaJ software by a la mod.. Inc. - 1-800.ALAMOOE - 10 - ., , . , RES MARKET CONDITIONS CONT. BcrrowerJr.fient NA Address Hiah~ 101 Cltv o;ulcene Coun\v Jefferson Stale Wa ZIn Code 98376 Lender NA dtawing indications of \;W.W! marIalt influence on geueml value tren.ds for local real ptop<aty, UST OF TWICE SOlD PROPERTIES BETWEEN 11112006 AND 1/112009 ADDRESS SOLD PRICE SOLD PRICE PERMO PER MO DECREAsE INCREASE 2503 Sm,....w St 1109 5245,000 9107 $247,500 ,OOO(j Port ToWDSCllli 1347 Hancock St 12108 240,000 9107 249,000 .0024 Port Townscmd 2095 Law~ St 12108 2560500 8107 248,500 .002 PortToWDSeDd S1 Masonic Hal1 Rd 9/08 160,000 4/06 160,000 Port Hadlock 30 Dennis Blvd 8/08 189,000 10106 180.000 .0023 Port Townsend 292 E. 1sland View Av 7/0S 510,000 3106 566,000 .0035 Port Townsend S36 Clay St 1/Oi 889,000 8/06 889,000 Pon Townsend 4391 S. Dlscovexy Rd 7/0S 380,000 10106 356,000 .0029 Port Townsend 2549 J-IIghIRnd Loop 7/Oi 289.000 2/06 280,000 .0011 Port Townsend 720 S3zd St 6I{)S 330,000 4106 289,000 .OOSS Port Townsend 153131"St 6108 225,000 6I{)7 245,000 .0034 Port Townsend 5911 Dosewallips Rd 6108 146,000 1106 143,000 .0009 Brinnon 2330 Emerald St 5108 210,000 9106 299,000 .0048 Port Townsend 21 Bowen St 5/Oi 140,000 8/06 169,000 .0082 Qui!= 262 Garten Rd Sl08 261,356 2/07 290,000 .0052 Port Ludlow 90 Kem St 4/08 183500 6107 lS5,OOO .0008 Port Hadlock 1314 V St 4108 215,000 5106 155,000 .0168 Pon ToWDSeDd Form MAP.PLAT - 'TOTAL for WIndOWS" appmlsaJ software by a Ia mode, Inc. -1-800-ALAMODE - 11 - RES MARKET CONDITIONS CONT. , 101 cone Lender NA Go Jefferson State Wa ZI Gode 98376 136 F 8t 3/08 396,000 8/06 385,000 .0015 Port Townsend 1601 U"","'la Ave 3/08 301,600 5107 279,000 .0081 Port Townsend 122149'" St 2/08 265,000 1107 288,000 .0061 Port Townsend TOTALS .0404 .0411 In the above listing of the sales of single family R'Sidmees that sold twice since JanU817 I, 2006, there are 8 that show a 1esser sale prille forthe """'O<ld sale and there me 9 that show a p:ater sale price for the second sa1e. AddiDg the ~~1ed increase and decrease _Illy pel""ld>lgllS iDdicates that the difl'\ll~ is a positive .0007 that might be an indlQlled monthly adjt-ent for time of sale, as compaml 10 a c:ummt subject. That beiDg the CllIie. the following would be the indi1;ated positive adjusIm.ents per month for time at these listed sale prices: $100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 $ 70 per month 140 per month 210 per month 280 per month 3S0 per month 420 per monlh 490 per month 560 per month 630 per UlOIIth Adjustment s under $1,000 are genemI1y notmade in the appiaisal process. Granted, if the time aclju.<Itm"'llt WIlS applied to a $900,000 illope!ty and the time WIlS, llIi)', 12 months, the intlieAted adill!llmfmt could be aboat $7,560 ($7,500 row1ded) but that woWd probably not have a signifiQlllt impact on the ;ntIi~AIt<ild value of a S9OO,OOO camp nor the final estimate of value. Probably of equal importaw:e, the reli8biIity of such an adjll"",..lftt baed on the dala wollld be sigtdfic:ant1y '""""""'M<t. What is really intlitoJtted hen: is that the .Jeffemon Comdy:tDllrket is stable or flat at this time. Then: should be DO adju_...nfR for lime, be they positive or negative. In 2009, Ihere were 33 sales of single family, eondos or "'Mn1fIoMurecl houses that had sold previously fi:om In 2006. Two sold twice in 2009, 0lII: was down aboat 1 % iD the second sale and the other wss up about 1.60/0. Then: were 10 that sold in 2008 and lIgllin in 2009, five showed an iucl-. four a slight deaeases and one wss _hlll1ged. There were 18 bct.._lI the begin""'a of2007 and the end of2009, ten showalan ~_ and eight showed a slight dec~ between the two sale dates. There were 23 that sold in 2006 and tbenapin iD 2009, fifteen showed an increase,.five a slight \k:m::asc, and thtee were genendly J~ 0va:aIl, the sales of residences indicated an average inaease of just under 1% per month (.0086S) and vacant land showed an avemge inen:ase of about 1.386% per DIOIIth (straight line, DOt compounded). There is COIlCem about the n"",_ of sales of foIec1osed properlies in this nuIrket. 1."he :ref&...uu County sales ~ only 19 sales offoreelosed I"vp<i<ties occum:d bm. e ell JlIIW8Iy 1,2006 and JlIlIWII)' 30 of2009. Then: were about 1,173 sales cluring that period and that would indieate the sales offon:closed pI~es at aboat 1.162 ~",,1l1. l'hGte wss 8 total of21 fom:losure sales on 2009 out of a total of S7I sa1es in Jcfi'erson CoUDty, 26 were hollSClS, condos or tIUl11Ilfiwtl1n:d houses and onewss a (>R""."'"Cial property. However, the salesofforec:losedp:OpeLties sitK:e JlIlIWII)' 1 2000 do DOt support any correlation by ~~o: to ovexalI sales. SALES YEAR SALES OF FORECLOSED PROPERTIES Form MAP.PLAT - 'TOTAl for WIndowS' appraisal sottwara by a Ia mode, Inc. -1-800-AlAMODE - 12 - .- " , , RES MARKET CONDITIONS CONY. l'1rm ~~= lHghway 101 Lemler NA Countv Jefferson SIala Wa ZlD Coda 98376 425 410 442 528 642 591 511 389 280 340 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 9 4 5 5 8 3 4 2 13 26 The /'lighest years for the sale offoreclosed JX6~ties since 2000 has been 2008 and 2009. The year 2004 had the highest nnm~ of sa1es, the year 2008 the least and 2000 was just about in the middle. There is obviously some comlation bawec:..n ge...eualllCOJlOJlUc conditions and foreclosures. There is also some c:ondation between the typical nnm~ of foreclOSUl'eS and the ratio of the population, be they in high volume years or lower volume years. However. even the 27 saJes offoreclosed properties in 2009 (just over two per month) is less than thn:e pIlI......t of the total number of sales. As such, there does not appe$ to be any lllgJ'iflcant ;"'P8Ct OIl value in the market ~a1ly. Foreclosures will most likely always 00Wl' but, until the sales of ~losed PIO}Iw lies make up a sigoific:aut portion of the total sales, they are probably not n:aIly dgJ';fl~ market faetors and should not be coUlSideJed anymore 1han any other non-umslength traDsaction like sales within families, within pIlI.'IneIShips estat.es by personal...... ~lKn1Arives, tax sales, etc. While these sales do occur. they are not useful for normal aans length sale comparisons or typical reflnaTlcing appraisals. Real estate markets tend to be cyclical and are not llCl:eSSarily 1lIIiform throughout the Country. In what might be described as a boom period. one portion of the Country might very well be experiencing a much larger portion of that boom than some other part. The same is true when the geneml J:IUldwt is flat or the Country is described as being in a bust period. Thc.re can be 8le8S that are very bard hit and others that have slowed but continue to prosper. The Je~n County market tends to be m<m:l in that continued level of ~ '~IUlble plullptltl:y. Unemployment is reasonably close to normal, there (4)prin'..... to be coDSidetable new COJ'l~ and mnodeling and the sale data indicates leveling but no tnmd tu......-d. reduction in value of real estate genorally. Based on the sale data in this area. the use of comparable sales that occur.red a year or mOR prior to the c1f\A.1iV'e date of the appraisal, fRI\'1Ain very usef\J.l and reliable as value indt-.tOlS due to the stable maxket and leveling of value pressures. It is believed that sales that are truly competitive are m<m:l reliable indicators than sales from other and non-compctitive areas with more recent sale dates. In the typical rambler on an urban lot in Port Townsend, the most reliable l'.l'\n\}'Atables would most likely be within the neighborhood or a competing neighborhood, even if one or more might be an older sale. However, for the high value watcr:fi:ont or acreage property found in some of the more rural areas" some of the co~lables might be :from areas more distant. even from other counties. Fotm MAP.PLAT - 'TOTAL lor Windows' app~ software by a Ia moda, Inc. -1-aGO-Al.AMODE - 13 - ,. " , DEFlNmON OF MARKEl' VALUE: TIle IlI1JSI probabla prlce WI1Icl1 a proparty should bring In a comps1lll'/a and open market under all conditions requlsJle to a fair sale, the buyer and seDer, BlWh acIIng prudenUy, knowledgeably and assuming the price Is not allBl:!ed by undue stimulus. Impllctt In this dMon Is the consununallon of a sale as of a specllled dale and the passing of We from sener In buyer under condIIIons whereby: (1) buyer and saller are typIceUy mollvated; (2) both partiBs are wen Informed or well advised, and each acting In what l11l considers his own best Interest; (3) a reasonabla thne Is allowed for expnsure In the opon market; (4) payment Is made In terms of cash In U.S. doDers or In terms of lInanclal arrangements comparable therelD; and (5) the price represenls the normaJ consldereUon for the proparty sold unaffected by specIal or creative 1Inanclng or sales concessions' grenIsd by anyons associated wtth the sale. . Arljuslments to the comparables most b8 made for special or creelive 1Inanclng or sales concessions. No adjuslments are necessary for those costs which are normaUy paid by saDars as a resutt of 1IadIIIon or law In a market area; these costs are readUy IdenllUebIs sines the saller pays these costs In v1rtuaIJy all sales transactions. Special or oreaI!v1l 1Inanclng adjustments can be made In the comparebla proparty by comperlsons to 1InancIng terms otIared by a thInI party 1nstttuU0nal lender thai Is not already Involved In the propsrly er lransa1:llon. Arrj adjus1ment should not be caJculaJed on a I111lChanlcaJ doUar fer doDer cost of the 1InanoJng or concession but the doDer amount of any adjustmant should approxlrnaJa the markefs reaction In the 1Inanclng or concsssJons based on the appraiser's judgermmt. STATEMENT OF UMITING CONDITIONS AND APPRAISER'S CERTIFICATION CONTINGENT AND UMRlNG CONDmONS: TIle appraiser's cartIllcallon thai appears In the appraIsal repon Is sub]eclln the fonowlng condIIIons: 1. Ths appJalser will not be responsible for ITllIIlalll of a legal nature thai alleot etther the propeny b8Ing appreJsed or the We In It Ths appreJser assumes thai the We Is good and maI!<e1BbIe and, thennore, wfil not render any opInIons about the We. The properly Is appJaised on the basis of tt being under responsIbIa OWlIBlllhlp. 2. Ths appJaiser l11ls provIded a skatcJ1 In the appreJsal repon to show approxlrnaJa dJmunslons of the Improvements and the sklllch Is Included cnJy In assist the reader of the repon In vfsuaJI2Ing the proparty and understanding the appraJser's dalBrmlnalIon of Us size. 3. Ths appreJser l11ls UllIllIIned the avaIlable flood mape thai are provlded by the Federal Emergency Management Agency (or otl11lr dale sources) and has noted In the appJaisal repon whether the subjent sJbJ Is locaJed In an identified Special Rood Hazard Area. Booause the eppreJser Is not a surveyor, l11l or sl11l mal<es no guarantses, exprees or ImpUed, regarding this dutermJnaIIon. 4. The appreJser will not give 1astImcny or appear In coon beoausu l11l or she made an appreJsal of the proparty In questIon, uoJess specIllc arrangements In do so have bean made baJorshand. 5. Ths appreJser l11ls estJmaJed the value of the land In the cost approach at Us hlghpst and best use and the Improvements at theIr contI!butcry value. lhase sepanl!e valuations of the !ani! and Improvements must not be usad In conjunctlon wtth any other appraIsal and are InvaJJd n they are so used. 6. Ths appreJser l11ls noted In the appreJsal repon any adVBlllB condIllons (such as, nseded repaJre, depreoJatlon, the presence of hazardous wasIes, tIOOc substances, ate.) obuel'l8d during the Inspec1lon of the sub]ecl proparty or thai l11l or she becsmu aware of dunng the normal research Involved In performing the appJaisal. Unless othatwIse staIBd In the appreJsal report, the appreJser l11ls no knowledge of any hidden or unapparent condIllons of the properly or adverse enYlronmentaJ condIllons (including the presence of hazardous wasIes, toxic substances, ate.) thai would make the properly more or less valuable, end l11ls assumed thai !hare are no such condl1lons and maI<es no guarantees or warranties, exprees or Impned, regarding the condIllon of the properly. The appreJser will not be responaJble for any such condIllons thai do mdst or for any englneerlng or testIng that might be required In discover Whether such condl1lons exist. Buceosu the appreJser Is not an uxpen In the ffaJd of enYlronmentaJ hazanIs, the appJalsal repon most not be considered as an envlronmenJsI assessment of the proparty. 7. Ths appreJser ob1alnsd the information, estJmaIes, and opInIons thai were expressed In the appJaisal repon from sources that he or sl11l consldelll In be reJlable and buUuves them In be true and correct Ths appreJser does no! assume responaJblIlly for the acourecy of such Jtums that were fumlsl11ld by other parties. B. Ths appJaiser will not disclose the contents of tha appreJsal repon except as provided for In the Unlfonn Slm1dur1Is of Professional AppreJsal PreclIce. 9. Ths appJaiser l11ls based his or her appreJsal repon and valuation conclusion for an appJalse1 thai Is sub]ecl In sallsfaotory complellon, repaJre, or aJturatIons on the assumption thai compIsUon of the Improvemenls will be performed In a workmanIIkfJ manner. 10. The appreJser most provide his or her prior wrItlIln consent before the lender/cDent spucIlled In the appraIsal repon can dIstlfbutu the appraIsal repon (including conclusions about the proparty value, the appraiser's Identtty and professional deslgnalIons, and nl!erencus to any prolueslonal appreJsal organJzatIons or the linn wtth which the appreJser Is associated) In anyone other than the borrower; the mortgaguu or Us SUCCBSSOlll and assigns; the mortgage Insurer; consullanls; professional appreJsal Ol~WilzulloJtS; eny staIB or federally approved 1InancIal lnstttuUon; or any dupartment, agency, or lnaJrumenlsIlfy of the Unttsd States or any staIB or the DIslrWI of CoIombIll; except thai the Isnder/cnent may dIstrIbute the properly descl!ptJon sactlon of the repon only to dale conactlon or reponing slllVlce(s) wtthout having In obtain the apprelsur's pI!or wlftten consent Ths appralser'e wrItJsn consent and approYal must also be ob1llInsd buIDre the appreJsal can be conveyed by anyone In the pubUc through advenlslng, pobUc nI!atIons, 1lUWS, salus, or other medIa Freddie Mac Fonn 439 6-93 Page1of2 Consul1Bn1s NW (360) 385-8453 Fonn ACR - 'TOTAL for WIndows" appreJsaJ sollware by a io mode, Inc. -1-800-AlAMODE - 14 - Farmle Mall Fonn 1004B 6-93 , 1 , APPRAISER'S CERTIFICATION: The Appraiser ceJ1lfJas and lIQI66S 1IJat 1. I have resaarcJred llIlI subjacl mmI<et area and have sslected a minimum of three reeent sales of properties most sbnllar and proxlmale to llIlI subject property for consideration in llIlI sales compmlson analysis and have made a dollar adjustment whan approprtaIB to ralIect the mart<at raac!lon to those Items of sIgnfficant varJa1Ion. tl a sIgnillcant Item in e comparable property Is supertor to, or more favorable than, the subjaot property, I have made a nagallva adjustment to reduca the adjusted sales prtce of the compamble and, tl a slgnJllcant Itam in a compamble property Is Infartor to, Dr less favorable llIlIn the subject property, I have made a poslllva adjustment to inoraass llIlI adjusted sales prtoa of the compambla. 2. I have taken inIo consideration llIlI facIDrs thai have an Impaot on vaJue in my development of the estlma1a of mmI<et value in the appraisal report I have not knowingly withheld any slgnJllcant inIormallon from the appraisal report and I believe, to llIlI best of my knowledge, thai all s1a1amenfa and informallon in the appraisal report are true and corract. 3. I aIBtad in the appraisal report only my own paraonal, unblassll, and professional analysis, opinions, and conclusions, whlch are subject only to llIlI contingent and IIral!ing cornIDIons spaclltad in this form. 4. I have no present or pmspamIve inferest in llIlI property that Is the subject to this report, and I have no present or prospecllva personal infarast or bias wfth respaot to the pertloJpants in the trnnsaollon. I did not bass, ellhar partJaIIy Dr complalaly, my analysis and/or llIlI estImaIB of market value in the appraisal report on llIlI race, color, religion, sax, handicap, farnillal slaIlIs, or natIonaJ ortgin of atlher the prospamIva owners or occupanfa of llIlI subject property or of the present owners or occupants of llIlI properties in llIlI v1cinlIy of llIlI subjaot pmparty. 5. I have no prassnt or contmnplalBd fulure infarast in llIlI subjaot property, and nallhar my currant or fulura arnpIoymsnt nor my compansa1lon for perfomting this appraisal Is conlIngent on llIlI appraJsad valoo of llIlI property. 6. I was not required to report a prada1anninad value or dIraotIon In value that favors the cause of the client or any relaled party, ths amount of the value estlma1a, llIlI atla!llment of a speclllc result, or the occwrenca of a subssqtrent event In order to racaIve my compensation and/or employment for peIforming llIlI appraisal. I did not bass llIlI appraisal report on a requested minImum valuaI!on, a specific valuallon, Dr llIlI need to approve a speclllc mortgage loan. 7. I paIformad this appraisal in conformlly wfth the Untlorm SIlmdards of ProfessIonal Appraisal Practice thai were adop1ad and promulgstad by llIlI AppraIsal SIlmdards Board of The Appraisal Foundal!on and that ware in pisca as of llIlI affacllva da!ll of this appraIsaI, wfth the axcap1lon of the departure provIsIon of those SIlmdards, whlch does not apply. I acknowledge that an estlma1a of a reasonable thne for exposure in the open mmI<et Is a condllIon in the daflnillon of market value and the estlma1a I devaIopad Is conslslant wfth the mart<ating thna noted in the naIghborbood mon of this report, unless I have otharwIss aIBtad in the raconcJUajJon sadlon. 8. I have personally inspaclad the ln1aIlor and axlerlor areas of the subject property and the axlerlor of all propertles JIstad as compamblas in the appraisal report. I further oerIlIy that I have noted any epperant or known adVSllle condllIons in the subject Impmvaments, on the sUbJaot site, or on any site within the ImmedlaIB vlcinlIy of the subjaot property of which I am aware and have made adjustments for these adverse condllIons in my analysIs of the property vaJue to the extant that I had mmI<et avldanca to support them. I have also commented abeD! the affact of the adverse condIIIons on the markatablItly of the subject property. 9. I peraonaIJy prepared all conclus!oml and opinions aboot the raaI estaIa that were sat forth in the appraisal report. tl I relied on slgnillcant professIonal assistance from any indIvIdual or indIvIduals in the partormanca of the appraisal or the preparallon of the appraisal report, I have named such indIvldual(s) and dIsolosad the speclllc tasks partormsd bY tI1am in the raconcJUajJon ssclIon of this appraisal report. I cartlly thai any indIvIdual 90 named Is quaIllIed to paIform the tasks. I have not aothorlzed anyone to make a change to any Itam in the report; tharafore, tl an unauthorized change Is made to the appraisal report, I wm taka no rasponsIblItly for It. SUPERVISORY APPRAISER'S CERTIFICATION: tl a supervIsory appraiser sIgned the appraisal report, he or she certlltas and agrees 1IJat I dIractIy sUpervlss the appraissr who prepared the appraisal report, have revIawad the appraisal report, agree wfth the s1a1amants and conclusions of the appraiser, agree to be bound by the appraiser's cartlIltal!ons numbarad 4 through 7 aIbova, and am taking full responslblllly for the appraisal and the appraisal report ADDRESS OF PROPERTY APPRAISED: Hildtwav 101. Qui1ceno. W.98376 SUPERVISORY APPRAISER (only" required): SlgnaIure: Name: Dale Signed: State CerIlIlcatlon iF: or State Ucanse iF: State: Explra1lon Dale of Certlllcatlon or Ucense: APPRAISER: SIgnaIure: -J2p Name: Ralnh Ericksen DaIB Signed: October 12. 2010 State CerIlIlcatlon iF: 1701229 or State Ucansa iF: State: W~hinatnn Explra1lon Dale of Cerl!IIcatlon or Ucansa: 11125/11 o Old 0 Old Not inspaot Property Freddie Mac Form 439 6-93 Page2of2 Form ACR - 'TOTAL for WindOWS" appraisal soflwara bY a Ie mode, inc. -1-80Q-ALAMDDE - 15 - Fannle Mae Form 1004B 6-93 ,~ RESUME Borrower Uent NA Address Hi 101 G cene Lemlar NA G Jeffereon Stale w. ZI Goda 98376 RESUME Ralph ErIckseII CONSULTANTS NW, ARBOOL, me. POBox 171 Port ToWDSeDd, Wa 91136ll consuItlmt<mW@wavnt.CODl 360-38~S3 Certified RaidentiaJ RealllsIate Awacai- in W&1Ihington StIle #1701229 APPIUJSAL. EDUCATION F..."I~lt of Real Eslate Appudl..d 1- Appml..n.g Real Ftup<alf2- Appliod R~d..ntial Pl..}I<il'ty VlIIuation 2- Environmcota1 Hazards 3- f'NMA SmaIIInl:ome jl...ndMtti..1 3- S1andards And Pror-n......t Pmcticc 2. Principles Review 3- MaItet Data Aoalysis Review 3. Mobile Home Review 3- American Disabilities Act 3- Marsba1l &: Swift RP-<ridP.lJtj,1 Cost Guide Review 3. T""'JIo1ieaI fnqpeeIion of Real Estate." M......fl.. l......d Housiog Appr8isaIs 5" Real Esbde Law 6" Bmine:otDomain 7. From The Appraiser To The UDdcrwritcr 1* In The Wake OfNatmaJ ~" 7. Problem SoIviDg In R~~ Real EstateApp:raisi:og 1* Sales Comparison A_\llICh: TecImiquI:s &: ApplicatiOJlS 7. Unifunn Standanls Of Real &I8le Apl"..h..d P.r8eti.ce S. App"";"'t OfLoca1 Rel8il ~ r AJlP""illiqg Special PlIapa....I\~ 8" Tedmology And The Modem Ai'l,.";<<J. 9" ~<WIIU_Takinp 10" Appraisal Reporting Technology 9" USPAP Update 11" FHA AppnrilOitlg Today 11- Appraising Nnnr.nn~&: Difficult Pto~ties II" AIlja.u- Liability II" Appraising Watediont Plup.;tties 12" USPAP Review 13" uspsp Review 14+ Real Estate Law 14" USPAP Update 14" Resideot:ial Miuket Analysis And l1tVo- And Best Use 14" ResidcmtiaI Site Valuation And Cost Apptoaeh 14" 1986 1m 1987 1989 1989 1990 1993 1993 1993 1993 1993 1993 1993 1994 1995 1995 1995 1997 1997 1999 1999 1999 1999 2000 2000 2003 2003 2003 2003 2005 200S 2007 2007 2009 2009 2009 1+ Real &I8le IM,I('-'dioo Company 2+ Society of Real Estate Appraisers 3+ NationaJ. Assn.. of Real F.sIateAppralsers 4" Northwest Jn~on EngineeI:s 5" T iocoJn Omduate Ccmter 6" RocIcweU 7"Lee and Gnmt Co. r Apptlaiaod I~m. 9" A LaMocle IDe. 10" Law '"""""'1$ Llln....fficmal 1 I" McKissOck Inc. 12. Adrie1icm 13* PR~18 14" Mvkut Realllslate Sd1ooJ. Form MAP.PLAT - 'TOTAL for WIndows' appraisal software by a la mode, Inc. - 1-80D.ALAMODE - 16 - , , , UCENSE 101 cene NA C State Wa Zi Code 98376 , ! Jefferson I' i~ f'>L~< STATE OF WASHINGTON <I, D.PARl Mr'l or lInNSING BUSINESS AKD PRGrF.SSIONS DIVISK1N nus c:F.Rlll-tHS 'fHATTRE PERSON NA?AlID llHREON IS AUTHORIZED. AS PROVLDED BY LAW. AS A RhSlDh")ltlAL REAl. E~ATH APPRAlSER I< 1'\(. F.RT(KSH~ <. .:-JiSP W,\ 'lS3M AR>'~"< (" 00 : .~ -. . ,; . M ':"'~ --l?) .' -t=,.:: CertlLIe No. 17tll22S Issued Dale l0J25/19'l1 Explratlon Dale llj2Sj20lI &J~u!~ Form MAP.PLAT - 'TOTAL for Windows' appraisal solIwa11l by a Ia mode, Inc. -1-801J..AlAMOOE - 17 - < '" ~( ~i! ~~ ~ f ~ t p r ~ . -' -' location Map .. , I~~.m CounIv .JefIl.non r' J CLALLAM SIale Wa ZiDCade 98376 ~"-'\~i,) 1, ,"~ , c.-.. !, IsIaNl \ i ~ i I I . , L__...R...... , Point --~-:----~~-Ahpoit t,te( : , , , i i I Dis:ovety '. Bey ........ ...... J'.-'I '. 1&., '."l>"" . 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U....... 5J' M41 ft- fait .. tile Taw retd II 'r 1'1~~ ~i.. 1111 HI I d.'... 6f- 0 . '0 LI..,.,.~. ...., _ lit... .... .1Id- h...lIr- _ ........ .' ,,,.. wltIIl.. SlIIItIl.." of tile. ,. '1& ...... of AId Sect_ . . " Form MAP.PLAT - 'TOTAL for WIndows' appraisal software by a Ia mode; Inc. -1-800-AllIMODE - 20 - 1. - ~ Jo Subject Pboto Page 't: .. ',I." IT"' :!:~ m~101 Countv Jeffi:r.ron ZiD Coda 98376 SfllIa Wa mghway 101 Sales PrI1:a Gross Uvlng Area ToIaI Rooms T olllI Bedrooms T olllIllaIhrooma l.ocaIlmJ VIaw Slfa tluaIIly Age Form PICPlX.SR - "TOTAL for WIndOWS" appmIsaJ software by a fa mode, 1111:. -1-800.ALAMODE - 21 - Subject LookingSW Hwy 101 Fuu",muud Subject Looking NW Hwy 101 Foregrouod SubJect Looking NW DrM:way is Stagecoaeh Ln "" "', "'-" I~ ~--'" Subject Photo Page -t .., ~ . Coun1v Jell'erson SIBl8 Wa ZIo Code 98376 Highway 101 SaJasPrlce Gross Uvlng Area TofllI Rooms T ofllIlledrooms TofllIllaIhromns LocaI!lm VIew SIte QuaIIly Age Form PICPlX.SR - 'TOTAL lor WIntIOWS" apptaJsaJ software by a fa mode. Inc. -1-800-ALAMODE - 22 - SUbject Looking West From SIagecoach Ln Garage East End F"""" Hwy but No I>rMlway 1.0:. .._*, ~ ~ .a... Comparable Photo Page I-~ ~= Hililiwav 101 lender NA Counlv JefIilrson Slala Wa liD Code 98376 -~ -----~-- Comparable 1 Pan:eI901I32002 Prox.to Subject 14.84 miles Sale Price Gross UvIng Area Total Rooms Total Bedrooms Total Balhrooms LocatIon View SilIl QuaIIIy Age F~'=C:::===--C'-___ Looking NE From Beaver V1y Rd Ccmp is Forest Area on Hill ".~~ Comparable 2 Pan:e1801204006 Prox.to Subject 5.50 miles Sale Price Gross UvIng Area Total Rooms Total Bedrooms TotaIBaII1rooms LocatIon View SilIl QuaIIIy Age Looking East From Center Rd Comparable 3 Parcel 701062001 Prox. to Subject 5.03 miles Sale PrIce Gross UvIng Area Total Rooms Total BetIrooms Total Balhrooms LocatIon View SilIl QuaIIIy Age Looking West from p""""""" Fonn P1CPlX.CR - 'TOTAL for WIndows' appraIsaJ software by a fa mode, Int;. -1-8OlJ..ALAMODE - 23 - -':$" ... ~_t t. " .. II" Comparable Photo Page 17m ~Al!:: HiAAmiYIOl Lender NA Countv Jefferson Slats w. Zln Coda 98376 ..,- >1:: -- .-' . I-' ~" !j . ~~N., , J ... ~~~\) tJ~" ,,\, '" ...., .,.," .,'~ I-~'--,-~.,--,,-);~ y,;~,~..-\ ""j>'~ '~~:x" - Comparable 4 Parcel 802111001 Prml to Subject 7.22 miles SalePrl1:9 Gross lMn1l Area TOIlII Rooms TOIlII Bedrooms TOIlIIIlaIlirooms LocaIlm1 Vi1lw SIIe QuaJl\y AlJll Looking South L , Comparable 5 Parcel 702272002 Prmlto Subject 0.39 miles SalePrl1:9 Gross lMn1l Area TOIlII Rooms TOIlII Bedrooms TOIlIIIlaIlirooms LocaIlm1 VIsw SIIe QuaJl\y Allll Looking NE L Comparable 6 Parcel 70\194023 Prml to Subject 2.99 miles Sale Price Gross lMn1l Area TOIlII Rooms TOIlII Bedrooms T 0IlII1laIlirooms LocaIlm1 Vi1lw SilB QuaJl\y Age Looking SE Fonn PlCPlltCR - 'TOTAL for WIndOWS" apprnJsaI software by a Ja mode, Inc. -1-tlOO-AlAMODE - 24 - ....,t- .... '. Comparable Photo Page ~ " J;. ,k I-NA ~ Hlahwav 101 Counlv Jelferson Slate Wa lID Code 98376 Comparable 7 Paroel601112006 Prmt to Subject 5.68 miles SaJa Plfce Gross living Area TotlIRooms TotlIllellrooms T otlIBalhrooms LocalIon View SIIe llua!lly Age Looking SE IWroSS Coyle Rd ----.- --- -.--.---- ~, Comparable 8 Paroel902361001 PrmttoSlJbject 10.79 miles SaJa Plfce Gross living Area TotlI Rooms T otlIllellrooms T otlIBalhrooms LocalIon VIew S!lll llua!lly Age ----~ ~.- Looking West Camp is the Wooded area Comparable 9 Paroel 702024027 Prmt toSubject 4.31 miles SaJaPrIce Gross living Area TotlI Rooms T otlIllellrooms T otlIBalhrooms locaIIon View SIIe llua!lly Age Looking East from Rood Fonn PICPIX.CR - 'TOTAl. for W!l1llows' eppralsa/ software by e fa mode, Inc. -l-800-ALAMODE - 25 - (Note Consent Agenda or Regular Agenda) (Note Department) JEFFERSON COUNTY BOARD OF COUNTY COMMISSIONERS AGENDA REQUEST TO: Jefferson County Board of Commissioners THROUGH: Philip Morley, County Administrator FROM: Judi Morris, Treasurer DATE: October 19th for October 25th Public Hearing SUBJECT: Public Hearing - Sille of County Owned Property STATEMENT OF ISSUE: Authorize sale of one parcel currently owned by the County through a Public Works purchase. Property sale is appropriate for sale and return to the tax rolls. A citizen has submitted an application to purchase parcel 702-273-005 ANALYSIS: Property in question has been approved by Public Works and will be sold at auction on December 14th 2010. An appraisal has been completed and value has been determined to be $99,000.00. FISCAL IMPACT: Return property to tax roll and receive $99,000.00 back to County Road Funds where the original purchase funds were derived. RECOMMENDATION: Authorize sale of surplus county owned property. REVIEWED BY: ~I ".:. . c:</) / 6A::~ . .--.1.'--'/.._. Pl4flip M'orley, cou~ (dliriinis~ator J.../",/' /~ .. ~'. / ---, , (( //i~ //. Date -- ..,,- ~