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PREPARED BY:
Aztech AppraisalsRichard McIntyre
March 16/2015
PREPARED FORNancy Pollreis
APPRAISAL REPORTof
LAKESHORE RESIDENTIAL ON 6.23 ACRESPt NW 19-39-01-W5 (A, 6260MC)
Lacombe County
AS AT:
Aztech Appraisals
Aztech Appraisals5017 50th StreetLacombe, AB T4L 1X9
In accordance with your request and authorization, an investigation, analysis and appraisal report on the above described property has beencompleted for the purpose of estimating the market value.
After careful consideration of factors that affect value, the marketvalue was estimated to be as referenced above.
This estimate is subject to the limiting conditions attached to thisappraisal and to which the reader's attention is specifically directed.
The following report presents the basis of all opinions expresses herein.
The information contained herein should be sufficient for your purposes.Should you require further information or clarification as to any portionof this report, please contact me.
I certify that I have no interest, present or contemplated in the propertyappraised.
Yours truly,
Reference: Address of Property:
(Effective Date of Appraisal)
Market Value:
As at:
Lacombe County
$3,900,000.00
March 16/2015
Pt NW 19-39-01-W5
Aztech Appraisals
The Scope of the Appraisal contains the necessary research and analysis to prepare a report in accordance
with its intended use. The following are comments which describe the extent of the procedures used in the
collection, confirmation and reporting of the information involved in preparing this report.
The subject property was inspected on March 16/2015. The inspection was made in the presenceof the owner.
In a typical property valuation, current relevant sales are sought that reflect similarities to the subjectproperty, particular in terms of land size, location and extras/features ...adjustments are then made fordifferences. Typically fewer differences result in fewer adjustments giving better overall reliability to finalestimate of value. Subject parcel & improvements may be described as a "unique property" in that, along with the many extras, subject parcel is substantially larger in size than most water front properties …majority of lake shore properties around Sylvan Lake are less than 1 acre. Subject has 6.23 acres and approx. 850 feet of shoreline. Due to aforementioned unique features, research of relevant comparable propertysales is deemed particular challenging as recent sales w/ similar parcel size, shoreline and attributeswere not readily available. Subsequently, as a result of research and analysis of the few property salesthat where available, those chosen as comparable, though similar in some respects, required above averageadjustments. Should similar comparable sales become available further analysis would be warranted.
Information has been gained by inspection as noted above, and other sources in the market.The assessment and tax data were obtained from county office. In estimating the Highest and Best Use for the property, an analysis was made from the dataobtained from the steps noted above. Consideration was given to the fact that the existingimprovements are a permitted use under the current zoning bylaws and there appears to be areasonable demand for this type of property at the present time.
The purpose of this appraisal report is to determine fair market value for disposition.
In developing the approaches to value, the cost has been analyzed from various files and referencematerials along with the assistance from various individuals and offices.
The Income Approach was not used as subject is not designated as an income producing property.
As Market Value is dynamic and continually changing due to changing market forces, the appraisal is limited to estimating and not "determining" the market value of the subject property.
After assembling and analyzing the data defined in the scope of the appraisal, a final estimate of value was made.
The appraiser is not a qualified legal expert. Therefore, legal investigation regarding any adverseinfluences affecting the title, or marketability of the subject property is outside the scope of this appraisal.
This appraisal is subject to the foundation of the dwelling complying with the proper building coderequirements in the event the dwelling has a preserved wood basement.
SCOPE OF THE APPRAISAL
Aztech Appraisals
CLIENT: Complete XX APPRAISER:
ADDRESS: ADDRESS:
TEL: ( 403 ) TEL:
APPLICANT NAME: Nancy Pollreis LEGAL DESCRIPTION: Lot Block Plan 6260MC
MUNICIPALITY or DISTRICT:
ASSESSMENT: IMP YEAR
PURPOSE OF APPRAISAL: To estimate the market value or
INTENDED USE OF APPRAISAL: or
PROPERTY RIGHTS APPRAISED: Fee simple Leasehold Condominium Other(specify)
OCCUPIED BY: Owner Tenant
HIGHEST AND BEST USE: As Improved NOTE: IF HIGHEST AND BEST USE IS NOT THE CURRENT USE-SEE COMMENTS
NATURE OF DISTRICT TREND OF DISTRICT CONFORMITY OF SUBJ. DEMAND
RESIDENTIAL IMPROVING INFERIOR XX GOOD X GOOD
XX RURAL XX STABLE XX SIMILAR YEARS FAIR XX
MIXED DETERIORATING SUPERIOR POOR
COMMERCIAL TRANSITION
DISTANCE PUBLIC TRANSPORTATION
SHOPPING FACILITIES
DOWNTOWN
SUMMARY:
XX PAVED DRIVEWAY XX TELEPHONE SANITARY SEWER
GRAVEL ROAD XX GAS T&F SEPTIC
TOPOGRAPHY: SIDEWALK MUNICIPAL WATER STORM SEWER
CONFIGURATION: CURBS XX WELL-PRIVATE OPEN DITCH
ZONING: STREET LIGHTS WELL-COMMUNAL
CABLEVISION
DOES PRESENT USE CONFORM: XX YES NO (IF,NO SEE COMMENT)
XX EXCELLENT FAIR Row UTILITY XX PRIVATE XX SINGLE CONCRETE XX UNDERGROUND
X GOOD POOR ACCESS MUTUAL XX DOUBLE XX ASPHALT OVERHEAD
AVERAGE NONE NONE
ESTIMATED YEAR BUILT: EFFECTIVE AGE: 26 YEARS 39 YEARS
CONSTRUCTION COMPLETE: n/a
FLOOR AREA IN SQ.FT. CONSTRUCTION
SOURCE FULL XX XX WOOD FRAME
MAIN PARTIAL SEMI-DETACHED 2 STOREY BRICK
2ND NONE ROW/TOWNHOUSE 1 1/2 STOREY STONE
3RD Approx. BUNGALOW CONCRETE
TOTAL XX SQ.M. DUPLEX-HALF
SQ.FT. EXTERIOR FINISH
BRICK VENEER PAINTED WOOD XX ASPHALT SHINGLE XX GOOD
Wood return / Sealed & crank BRICK ACCENTS ALUMINIUM METAL AVERAGE
Double glazed / Metal clad exterior STONE VENEER VINYL SIDING TAR & GRAVEL FAIR
U.F.F.I.APPARENT YES SOLID STONE Some CEDAR SIDING
XX NO STUCCO 2.5 Yrs
INSULATION
CEILING W-W CARPET SHEET-VINYL
WALLS SOFTWOOD VINYL TILE
BASEMENT HARDWOOD CERAMIC
CRAWL LAMINATE SLATE TILE
LINOLEUM PAINTED CONCRETE
CLOSETS OVERALL INT. CONDITION
XX GOOD x GOOD 1 LARGE 2-Pc. XX GOOD GOOD
AVERAGE XX AVERAGE AVERAGE 3-Pc. AVERAGE AVERAGE
FAIR FAIR SMALL 4-Pc. FAIR FAIR
POOR NONE 1 5-Pc. POOR/CUSTOM POOR
5017 - 50th Street
Hillside
SUMMARY APPRAISAL REPORTHOME OWNERSHIP UNITS
Including VALUE TRENDS AND ADVERSE INFLUENCES IN AREA, if any(e.g. railroad tracks, commercial/industrial properties,unkempt properties, major traffic arteries, etc.)
AREA BUILT UP
XX
BATHROOMS (1)
FLOORPLAN (Main)
XX
BEDROOMS (1)
XX
POOR
XX
CEILINGSWALLS
WALL PANEL
PLASTER
XX
T&G PINE
DESIGN
OVERALL EXT. CONDITION
XX
CEDAR SHAKES
ELECTRICAL
Subject is a single family hillside bungalow situated on 6.23 acres located along the north-east shores of Sylvan Lake. Surrounding land is predom-
TO:
Yes
A
AVERAGE AGE OF PROPERTIES
6.23 Acres
$1,720,610.00
Limited
782-2169
Vacant
Note: The title for the subject property has been included in report.
TOTAL
Nancy Pollreis
ADDRESS OF PROPERTY
Pt NW 19-39-01-W5Lacombe County
2014
Rural
Rural
Richard W.B. McIntyre
XX
$1,030,550.00
Financing
Co-operative
TAXES$ $8,307.51
Disposition XX for foreclosure purposes
Aztech Appraisals
Lacombe, AB T4L 1X9(403)
SITE AREA SQ.FT.
SITE DESCRIPTIONSITE DIMENSIONS:
POOR
n/a
LAND
inantly agricultural in nature along w/ some residential acreages of varied age, style and size. West side of subject parcel boarders the edge of
Title certificate
Sylvan Lake, (approx 850 feet of lake front). Town of Sylvan lake is approx 8.5 miles from subject site. The real estate market has been showing
SOURCE:
signs of softening over the winter months; trend is expected to continue throughout the season. No adverse influences were apparent in the area.
SECONDARY SCHOOL
FAIR
8.5 mi (Town of Sylvan Lake)
8.5 mi
Rural
NEIGHBOURHOOD DESCRIPTIONSUPPLY
IN NEIGHBOURHOOD
None
$690,060.00
As is: Residential/Acreage
XX
XX
748-4602
none
Lacombe County
HOLDING TANK
SATELLITE
Ag (Agricultural)
HOLDBACK RECOMMENDED:
8.5 mi
8.5 mi
Generally level then sharp escarpment to lake side.
PRICE RANGE IN NEIGHBOURHOODELEMENTARY SCHOOL
Walk-Out
BASEMENT
XX
SQ.FT.
TOTAL AREA:
associated with a normal residential acreage located within Lacombe County. NOTE: Site has full riparian rights.
DRIVEWAY
GRAVEL
2176
TRIPLE
XX
SQ.M.
*APPROX. AGE
ROOFING MATERIAL
Irregular
DESCRIPTION OF IMPROVEMENTS - EXTERIOR
EASEMENTS
2176
zoning, and to it's surrounding neighbourhood, and may be considered marketable. Subject property has access to most amenities typically Subject appears to conform to current
ESTIMATED REMAINING LIFE:
100%
TYPE OF BUILDING
BI-LEVEL
Land title certificate shows "Part Inst. Type Corrected by 912163589 28-5-1991 Easement number corrected by 062395537 6-9-2006"
LANDSCAPING
2176 XX
PERCENTAGE COMPLETE:
WINDOW SASH/GLAZING
XX
FINISH
x
GYPSUM BOARD
XX
DETACHEDMeasured/MLS
COMMENT ON ANY POSITIVE/NEGATIVE FEATURES: (e.g. regarding conformity of zoning, effects of easements, etc.)
1983
DESCRIPTION OF IMPROVEMENTS - INTERIORFLOORING
PLYWOOD
Aztech Appraisals
XX POURED CONCRETE COPPER FUSES GAS FORCED AIR
CONCRETE BLOCK ABS OR PLASTIC BREAKERS ELECTRIC BOILER
BRICK OR STONE PEX RATE CAPACITY OF MAIN CAPACITY
CONCRETE SLAB AMPS FUEL TYPE
BUILT-IN APPLIANCE/EXTRA FEATURES:
1 ISLAND 1 CENTRAL VACUUM XX TENNIS COURT XX VAULTED CEILING XX HYDROLIC BOAT DOCK
1 GARBURATOR XX GUEST HOUSE XX HOT TUB XX SECURITY SYSTEM w/ VIDEO SURVEILLANCE
2 OVEN 1 HRV SYSTEM 1 TRASH COMPACTOR XX STEAM SHOWER 1 SUB-ZERO FREEZER
2 DISHWASHER 1 FIREPLACE(S) XX BOILER 3 GARAGE OPENER 1 SUB ZERO REFIDGERATOR
BASEMENT FINISHES, UTILITY:
GARAGE/CARPORTS:
DECKS, PATIOS & OTHER IMPROVEMENTS:
COMMENTS: Building, appearance, quality, condition, services including extras:
SOURCE OF COST DATA: MANUAL LOCAL CONTRACTOR OTHER
LAND VALUE:
BUILDING DEPRECIATED COST
COST sq.ft. @ per sq.ft
GARAGE:
BASEMENT FINISH:
OTHER EXTRA'S:
Features and ExtrasSite Improvements:
MECHANICAL
INDICATED VALUE:
138
DATE OF SALE
Sq.Ft.
AGE/CONDITION 32 Yrs 9 Yrs 50 Yrs 32 Yrs
RMS/BEDS/BATH 5 2 7 3 6 2 8 4
GARAGE/PARKING
%ADJUSTED VALUES/NET ADJUSTED TOTALS
CONCLUSIONS:
VALUE BY THE DIRECT COMPARISON APPROACH (ROUNDED)
FINAL ESTIMATE OF VALUE/COMMENT ON REASONABLE EXPOSURE TIME:
a final estimated value of:
(INCLUDE SOURCE OF INFORMATION:)
AS AT: is XX AREA CALCULATE XX MAP ADDENDUM ENVIRONMENTAL ADDENDUM X
REPORT PROFILE XX SKETCH ADDEND XX PHOTO ADDENDA XX SCHEDULE A/NARRATIVE
XX TRANSMITTAL PAGE XX NARRATIVE ADDE. USAP DEPARTURE DISCLOSURE X INVOICE FOR SERVICES
INSPECTED PROPERTY (DATE)
RECERTIFIED
2,500,000
July 29/14
0LOCATION
Pt NW 19-39-01-W5
DOM
$1,100,000.00
XX
XX
DIRECT COMPARISON APPROACH
Attached & Detached
XX
XX
2
PRESSURE TANK
24'x27' detached garage: Fully finished interior, painted (resin) floor; work bench; 2 man & 2 automatic overhead doors.
1,248
2
41.6 gal
Services
Fully finished walk-out basement features hardwood on stairs; open rec area-exercise room w/ mirrored wall; laundry room w/ sink & maple cabinetry; 2pc & a 5pc washroom; walk-out to back yard; 3 bedrooms; a mechanical room and an office-den w/
6.23 Acres
ROOM ALLOCATION COST APPROACH
$185.00
24,000
separate storage closet. (3rd bedroom is converted family room w/ patio door walk-out). Overall condition and quality of finish rated as average.
SECOND
Inferior
NG
267,330
BSMT.
2176
DESCRIPTION
COMPARABLE NO.3.COMPARABLE NO.2.
$3,357,000.003,356,830
VALUE BY THE COST APPROACH (rounded)
2,803,500
1,500
2,000
None
BREAKERS 200
-259,500
-159,230
24'x22' attached garage: fully finished interior, wood floor, work bench, 1 man & 1 automatic overhead door. Also a
NAME
None
0
Sept 30/14
None
40,000
2,400,000
69,500
Lacombe County
$ ADJUST.
PLUMBING LINES
March 16/2015
INSPECTED PROPERTY (DATE) NAME
$ ADJUST.
#325 Birchcliff
50,500
Good/Lake Front
Full/Fully fini W-Out+
DOM
ADDRESS
FINISHED XX
Lacombe County
DOM
CRAWL
20,000
1,500
1 1/2 Storey 0
3pc&4pc
Sq.Ft.
.69 Acre
OFFICE/DEN
REC AREA
402,560
2
LAUNDRY
Foyer FAMILY
1
FOUNDATION WALLS WATER HEATER
1
.95 Acre
Sq.Ft.
Aug 21/14
Good/Lake Front
Inferior
56,500
TOTAL REPLACEMENT COST:
LESS: ACCRUED DEPRECIATION
As Listed in
32'x40' Attached
Full/Fully fini W-Out
-55,000
4pc&5pc 2pc/4pc/4pc -1,500
12,000Attached & Detached
Superior
0
184,000the Subject
264%
60,000
$3,900,000.00
cantly longer than would be expected with a standard property. Although the Cost Approach does lend some support, The Direct Comparison
the subject
CRA
52,000
0
52,000
Less than thanLess
0 the subject 130,000
240%
March 19/2015CERTIFICATION
THIS REPORT WAS COMPLETED ON:
DESIGNATION
unique, and as such, does not attract the typical buyer. Subsequently, exposure time, under normal market conditions, is expected to be signifi-
Approach is considered the better reflection of market value. An analysis of the comparable sales and a general overview of the market indicates
Due to its many extras/features, subject property can be described as
$3,900,000.00
COMPS 4
SCOPE OF APPRAISAL
AP
PR
AIS
ER
$4,007,500201%
NOTE: This appraisal does not include any appliances that are not "built-in" or other items that would be considered to be chattels.
148%
market values. After application of the adjustments an estimate of value for the subject property is indicated as:
$3,946,000 $3,759,000The above listed properties, and others examined, are comparable to the subject and are relevant to this analysis.
238%
***See addendum***
SIGNATURE
March 16/2015TITLE PAGE
DESIGNATION
SIZE L.F.A.
-50,000
STYLE 0 Bungalow
0
Reasonable adjustments for differences have been made to comparables to simulate the subject features, leading to an adjusted range of
265%
RECERTIFIED
SIGNATURE
AS A RESULT OF MY APPRAISAL AND ANALYSIS, IT IS MY OPINION THAT THE ESTIMATED MARKET VALUE OF THE SUBJECT PROPERTY
$3,900,000.00
Richard W.B. McIntyre
the Report
SU
PE
RV
ISO
R
COMMENT ON AND ANALYZE ANY KNOWN SALES, LISTING OR OFFER TO PURCHASE ON THE SUBJECT PROPERTY OVER THE PAST 3 YEARS:
EXTRA"S
Full/Fully fini W-Out
.19 Acre
Good/Lake Front
2,700,000
BASEMENT
to
Good
Similar
SUBJECT PROPERTY
2 Storey
ITEM
SITE SIZE
Sq.Ft.
COMPARABLE NO.1.
$ ADJUST.
#138 Jarvis Bay
$1,600,000.00SALE PRICE
2,9112,176
DESCRIPTION
Bungalow
Superior/Lake Front
Jarvis Bay
DESCRIPTION
0Current
137
0
0
DOM 162
#31 Birchcliff RoadLacombe County
$1,105,000.00
DESCRIPTION
25,000
426,560XX 37%
XX
XX
1
ENTRANCE
28,000
113,000
DINING
LIVING
28,500
5pc
1
Equipment and Landscaping
COST NEW
ELECTRICAL HEATING SYSTEM
***See Addendum***
***See Addendum***
31
35,000 KITCHEN
PART BATH
1
4pc&4pc
1
Full/Fully fini W-Out
BEDROOM
XX
5MAIN THIRD
FULL BATH
ROOMS:
LEVEL
Aztech Appraisals
AGE/CONDITION 32 Yrs 14 Yrs
RMS/BEDS/BATH 5 2 7 2
GARAGE/PARKING
ADJUSTED VALUES/NET ADJUSTED TOTALS
CONCLUSIONS:
DOM DOM 100
ITEM
SUBJECT PROPERTY COMPARABLE NO.4.
2,700,000
-193,000
COMPARABLE NO.5.
15,000
Good/Lake Front 0
July 12/13
1,972
COMPARABLE NO.6.
DESCRIPTION
BASEMENT
thanEXTRA"S
the Report the Subject
As Listed in More
Attached & Detached
Full/Fully fini W-Out
STYLE
Good
SIZE L.F.A.
SITE SIZE
2,176
6.23 Acres
LOCATION
SALE PRICE
DIRECT COMPARISON APPROACH
ADDRESS Lacombe County
$ ADJUST.
#149 Birchcliff
$ ADJUST.
Pt NW 19-39-01-W5
DESCRIPTION
$1,475,000.00
Jarvis Bay
$ ADJUST.
Good/Lake Front
-85,000
0
-1,500
0
Sq.Ft.Sq.Ft.
1 1/2 Storey
Superior
Bungalow
166% 211%
4pc&5pc 2pc/4pc/4pc
24'x24' Detached
Full/Fully fini W-Out
28,000
DESCRIPTION
Current
.19 Acre
DESCRIPTION
22,000DATE OF SALE
$3,960,500
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
Site has a long paved driveway w/ circular throughway and extra parking, (indicated as re-surfaced in 2012). Area around home site is extensively
sprinkler system …also feeds wood planters.
living room, kitchen, a 4 pc washroom and a bedroom; 2nd section has two small bedrooms and a 4pc washroom. Extras/features include:
maple cabinetry, sil-granite sink; double French doors, 100 amp epanel; vaulted ceilings; wood return windows w/ metal clad exterior. Appliances
include built-in Amana, oven, a dishwasher and counter top stove; poured concrete slab w/ infloor heat; central air conditioning and ceramic
tile flooring throughout. Stucco exterior and asphalt shingles. Overall condition and quality of finish rated as average.
Note: south wall in living room shows wear. Interior of garage is fully finished, painted concrete floor; work bench; infloor heat and 2 automatic
overhead doors. Fully enclosed breezeway gives access to rear of guest house featuring large brickwork patio.
landscaped w/ lawn grass, trees ...natural & fruit, as well as beds, wood planters and numerous assorted shrubs & perennials. Underground
Site also has a full size tennis court w/ 10' chain link fence …owner indicates court could use re-surfacing.
of repair/replacement. Basic lower level deck off back …also painted wood construction & canopy covered. Site has 2 children's play areas:
1 has dual play-center featuring a large viewing deck w/ granite bench seats. 2nd is a professionally built elevated playhouse. There is a large brick
work patio w/ central hot tub. Painted wood stairs down to tennis court and concrete stairs down to dock & boat launch.
Subject also has a full guest house (est built in 1988) w/ irregular shaped garage …approx 798 sqft. Main section of guest house has a foyer,
* Vaulted ceiling over kitchen
* On-site security system w/ video surveillance
Hi-end boat launch is solar powered ...press a button and it raises the dock and boat launch up out of the water for winter storage.
* Solar powered/automated dock/boat hoist
down, and then a sharp (escarpment) down to water line: has approx 850' of lakeshore frontage. Site has an elevated, panoramic (almost 180
degree view).
DECKS, PATIOS & OTHER IMPROVEMENTS:
Large deck off main floor: partially covered by canopy on 1 side, painted wood decking, aluminum railing and glass panels …canopy tarp in need
SUPPEMENTAL INFORMATION:
* Large kitchen island featuring raised eating bar w/ extensive shelving & cabinets and granite counter tops,
* Office area w/ built-in desk
* Custom 5pc ensuite w/ soaker tub, glass block partition walls and custom steam shower w/ multiple shower heads.
* Built-in stainless steel appliances: 2 ovens, counter top stove, sub-zero refrigerator, sub-zero freezer, trash compactor and garburator.
Site has full compliment of services including: Natural gas, telephone, power, drilled well and septic tank & field. (Said services are assumed in
good working condition). NOTE: Site has full riparian rights
* Maple cabinetry & vanities
* Oversize gas fireplace
SITE SERVICES:
* Central vacuum, boiler system, forced air furnace, HRV system and central Air
* Oversize "Pella" windows …wood return interior and metal cap exterior.
* His/her cedar lined closets w/ solid organizers.
* Asphalt roof shingles on main and guest house indicated as being upgraded in 2012.
* Underground sprinkler system
GUEST HOUSE
748-4602 ADDENDUM Lacombe County
EXTRA/FEATURES:
* Hardwood flooring thru master bedroom, dining room, living room, office area and kitchen sitting area.
* Slate and ceramic tile flooring
* Spacious front foyer w/ slate tile flooring
has a mix of dense mature coniferous and deciduous tree cover. Topography may be considered generally level …then approaching lake, site drops
APPRAISAL REPORT Pt NW 19-39-01-W5
* 2 Fire pits
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
SITE INFORMATION:
Subject site is an irregular shaped, 6.23 acre parcel located along the north-east shores of Sylvan Lake. Except around home site, subject parcel
Aztech Appraisals
Site has a long paved driveway w/ circular throughway and extra parking, (indicated as re-surfaced in 2012). Area around home site is extensively
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
Land Sale(s) Lot Sale Price Size (Acre)
1 26
2 15
3 25
Above, lake front, bare land sales, show an average of $540.00 per acre.
The Law of Increasing and Diminishing Returns holds that: as successively greater increments of land, capital, management or
labour are applied, a greater yield is realized until a maximum is reached at which point a decline is observed.
Adjustments relevant to the aforementioned principal, along with adjustments for parcel size, location and shoreline frontage;
the market value per acre is: Per acre
6.23 acres (subject site) at $450,000 per acre:
Based on above analysis, a market value estimate of $2,803,500.00 (two million, eight hundred and three thousand, five hundred
dollars), as per subject 6.23 acres, has been applied.
(INCLUDE SOURCE OF INFORMATION:)
Wood stairs in need of repair and paint
valuation. Lakeshore properties around Sylvan Lake were examined for recent land sales. Though sales of similar parcel size were not readily
Sale Date Price Per Acre
Nov 07/13 $399,900 0.79 $500.00
Aug 13/13 $419,895 0.75 $560.00
May 21/13
Deck canopy in need of repair
$419,895 0.74 $560.00
$450,000.00
In addition to consideration for the many extras/features throughout subject property, adjustments were also made for observed items of
deferred maintenance.
Decks in need of paint;
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
APPRAISAL REPORT Pt NW 19-39-01-W5
available, analysis of bare land sales, situated across lake, "West Country Estates were deemed relevant with adjustments made as described
below.
748-4602 ADDENDUM Lacombe County
LAND VALUE ANALYSIS:
Subject land parcel is 6.23 acres w/ approx. 850 feet of shoreline. The Direct Comparison Approach is typically the preferred method of land
$2,803,500.00
Some datedness apparent
Only 1 washroom on main floor (ensuite)
COMMENT ON AND ANALYZE ANY KNOWN SALES, LISTING OR OFFER TO PURCHASE ON THE SUBJECT PROPERTY OVER THE PAST 3 YEARS:
Broken window seal
Hardwood flooring shows some wear
COMMENT:
on 03/02/2015. Source: MLS/Matrix
Subject listed on 11/01/2007 for $7,500,000 ...reduced to $6,235,000 ...expired on 05/04/2008; Re-listed on
10/21/2008…expired on 01/30/2009. Re-listed 08/31/2012 for $3,950,000 …expired on 01/01/2013; Re-listed on 05/29/2013 for $3,800,000
…price increased to $3,850,000 …canceled on 08/16/2013; Re-listed on 08/16/2013 for $3,800,000 …increased to $3,850,000 …canceled on
09/25/2013; Re-listed on 09/26/2013 for $3,800,000 …increased to $3,850,000 …expired on 12/27/2014; Re-listed on 02/07/2014 for $3,800,000
…expired on 08/05/2014; Re-listed on 09/02/2014 for $3,800,000 …expired on 03/02/2015; Re-listed on 09/16/2014 for $3,800,000 …expired
Aztech Appraisals
N
ADDRESS: E
TEL: ( 403 ) S
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
LOCATION MAP ADDENDUM
W
Pt NW 19-39-01-W5
748-4602 Lacombe County
Aztech Appraisals
N
ADDRESS: E
TEL: ( 403 ) S
LOCATION MAP ADDENDUM
W
Pt NW 19-39-01-W5
748-4602 Lacombe County
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
Front View
File Photo
Attached Garage&
Side View
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
748-4602 SUBJECT PROPERTY Lacombe County
Rear View (Faces Lake)
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
File Photo
File Photo
Rear View
Tennis Court
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
748-4602 SUBJECT PROPERTY Lacombe County
Upper Deck
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
Living Room
Kitchen
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
748-4602 SUBJECT PROPERTY Lacombe County
Dining Room
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
File Photo
Kitchen
Kitchen
Office Area
748-4602 SUBJECT PROPERTY Lacombe County
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
Master Bedroom
5pc Ensuitew/ Steam Shower
Basement
Rec/Exercise Room
748-4602 SUBJECT PROPERTY Lacombe County
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
File Photo
File Photo
Basement
Laundry Room
Basement
Guest House & Detached Garage
Bedroom (Family Room)
748-4602 SUBJECT PROPERTY Lacombe County
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
Guest House & Detached Garage
Brickwork Patio
Guest House
Guest House
Kitchen
748-4602 SUBJECT PROPERTY Lacombe County
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
File Photo
Play Center & Viewing Deck
Warf/Dock
Wood Stairs Down to Tennis Court& Concrete Stairs Down to Dock
748-4602 SUBJECT PROPERTY Lacombe County
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
File Photo
File Photo
File Photo
748-4602 SUBJECT PROPERTY Lacombe County
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
748-4602 COMPARABLE'S Lacombe County
Comparable #1
#138 Jarvis BayLacombe County
$1,600,000.00
#325 BirchcliffLacombe County
$1,100,000.00
Comparable #2
Comparable #3
#31 Birchcliff RoadLacombe County
$1,105,000.00
Aztech Appraisals
ADDRESS:
TEL: ( 403 ) 748-4602 COMPARABLE'S Lacombe County
Comparable #4
149 BirchcliffLacombe County
$1,475,000.00
PHOTOGRAPH ADDENDUM Pt NW 19-39-01-W5
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
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, knowledgably 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, with each acting in
what he considers his own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of
cash in Canadian dollars or in terms of financial arrangements comparable thereto; (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.
CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS
CONTINGENT AND LIMITING CONDITIONS: The certification that appears in the appraisal report is subject to the following conditions:
1. Because market conditions, including economic, social and political factors change rapidly and on occasion, without warning, the market
value estimate expressed as of the date of this appraisal cannot be relied upon as of any other date except with further advice from the
appraiser confirmed in writing.
2. No responsibility is assumed for matters of a legal nature that affect either the property being appraised or the title to it. It has been assumed
that the title is good and marketable and therefore, no opinion is rendered about the title. The subject property must comply, its non-compliance
may affect market value. To be certain of compliance, further investigation may be necessary. The property is appraised on the basis of it
being under responsible ownership.
3. No survey of the property has been made. Any sketch that has been provided in the appraisal report is meant to show approximate
dimensions and is included only to assist the reader in visualizing the and understanding the appraiser's interpretation as to its size.
4. The report is completed on the basis that testimony or appearance in court is not required as a result of this appraisal unless specific
arrangements to do so have been made beforehand. Such arrangements will include, but not necessarily be limited to, adequate time to review
the appraisal report and date related thereto and the provision of appropriate compensation.
5. Unless otherwise stated in the appraisal report, there are no known unapparent or hidden conditions of the property (including but not
limited to its soil, physical structure, mechanical, and other operating system, its foundation, etc.) or adverse environmental conditions (on it
or a neighbouring property, including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less
valuable. It has been assumed that there are no such conditions unless they were observed at the time of inspection or became apparent
during the normal research involve in completing the appraisal. The attached report should not be construed as an environmental audit or
a detailed property condition report, as such reporting is beyond the scope of this report and/or the qualifications of the appraiser.
Responsibility is not accepted for any unapparent or hidden conditions that do exist, or for any research, testing or engineering that might be
required to discover whether such conditions exist.
6. Information, estimates, and opinions that have been expressed in the appraisal report are obtained from sources considered to be reliable
and they are believed to be true and correct. No responsibility is assumed for the accuracy of such items that were furnished by other parties.
7. The opinions of value and other conclusions contained herein assume satisfactory completion of any work remaining to be completed in
a good and workmanlike manner. Further inspection may be required to confirm completion of such work.
8. The contents of this report are considered confidential and will not be disclosed by the appraiser to any party except as provided for in
the Uniform Standards of Professional Appraisal Practice, the client, and/or when properly entered into evidence of a duly qualified judicial or
quasi-judicial body.
9. The appraiser and supervisory appraiser must provide his/her written consent before all (or any part) of the content of the appraisal report
can be used for any purposes by anyone except: the client specified in the report and, where the client is the mortgagee, its insurer and
borrower, if he/she paid the appraisal fee. The authors written consent and approval must also be obtained before the appraisal (or any part
of it) can be conveyed to anyone to any other parties, including mortgagees other than the client and the public through prospectus, offering
memo, advertising, public relations, news, sales or other media.
CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS - PAGE 1
Aztech Appraisals
1. The subject market area has been researched and a minimum of three recent sales of properties have been selected that are the mostsimilar and proximate to the subject property for consideration in sales comparison analysis and a dollar adjustment have been madewhere appropriate to reflect the market reaction to those items of significant variation. If a significant item in a comparable property issuperior to, or more favourable than, the subject property, a negative adjustment is made to reduce the adjusted sales price of thecomparable and, if a significant item in a comparable property is inferior to, or less favourable than the subject property, a positiveadjustment is made to increase the adjusted sales price of the comparable.
2. All factors known to the appraiser (and to the extent that the data permits) that have an impact on value have been taken intoconsideration to the extent-felt necessary in rendering a considered opinion of value. No significant information has been knowinglywithheld from the appraisal report and it is believed to the best of my knowledge, that all statements and information in the appraisalreport are true and correct. Unless otherwise indicted title has not been searched. (See Note below)
3. Only my personal, unbiased, and professional analysis, opinions, and conclusions are stated in the appraisal report. Included on thisform are all contingent and limiting conditions affecting the analysis, opinions, and conclusions, whether they were imposed by the termsof the assignment or by the appraiser.
4. I have no past, present of prospective interest in the property that is the subject to this report, and I have no present or prospectivepersonal interest in the property or bias with respect to the parties involved.
5. The opinion of value stated within this report does not result from a requirement to report a predetermined value or direction in thevalue that favours the cause of the client or any related party, the attainment of a specific result, or the occurrence of a subsequent eventin order to receive the compensation and/or employment for performing the appraisal. The reported value is not based on a requestedminimum valuation, a specific valuation, or the need to approve a specific mortgage loan.
6. This appraisal report, its analyses and all conclusions herein, have been prepared in conformity with the requirements of the UniformStandards of Professional Appraisal Practice that was adopted by the Appraisal Standards Board of the Appraisal Foundation, with theexception of the departure provision of those Standards, which does not apply. It is acknowledged that an estimate of a reasonable timefor exposure in the open market is a condition in the definition of market value and the estimate developed is consistent with themarketing time noted in the appropriate section of the report unless otherwise stated in the reconciliation section. 7. The interior and exterior of the subject property were personally inspected on the date shown in the attached report. It is herebycertified that any apparent or known adverse conditions have been noted herein, in the subject improvements, on the subject site, or onany site, within the immediate vicinity of the subject property which were apparent as of the date of inspection and that adjustments havebeen made for these adverse conditions in the analysis of the property value to the extent that market evidence was available to supportthem.
8. All conclusions and opinions about the real estate were personally prepared as same are set forth in the appraisal report. If there wasreliance on significant professional assistance from any individual or individuals in the performance of the appraisal or the preparation ofthe appraisal report, such individual(s) have been named herein including the disclosure of specific tasks performed by them. Noauthorization has been given to anyone to make a change to any item in the report; therefore, if an unauthorized change is made to theappraisal report, no responsibility for such changes is assumed. 9. As of the date of this report, the appraiser and supervisory appraiser have fulfilled the requirements of the recertification program, inaccordance with the Bylaws and Regulations of the professional appraisal organization with which they are affiliated and are herebynoted as designated members of such organization.
SUPERVISORY APPRAISER’S CERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certifies and
agrees that: direct supervision of the appraiser who prepared the appraisal report was performed and that the supervisor participated inthe development of the estimate of market value in this appraisal report, reviewed the appraisal report, agree with the statements andconclusions of the appraiser, and take full responsibility of the appraisal report.
Note: The title for the subject property has been searched and included in this report. It has been assumed that the title is good and
marketable. Legal advice to all matters concerning title should be sought as no opinion is made or implied by this appraisal.
PROPERTY ADDRESS IDENTIFICATION
Address: City: Lacombe Prov: AB Postal Code: Pt NW 19-39-01-W5 Prov. Ab. Postal Code:
Legal Description: Lot Block Plan
Final Estimated Market Value as at: is (effective date of appraisal)
APPRAISER: SUPERVISORY APPRAISER (if applicable):
X XName: Richard McIntyre Name: Inspected property: Yes: XX No: Inspected Property: Yes: No: Date Signed: March 19/2015 Date Signed:Designation: CRA Designation: Recertified: Recertified:
Lacombe County
March 16/2015 $3,900,000.00
CERTIFICATION AND STATEMENT OF LIMITING CONDITIONS - PAGE 2
APPRAISER’S CERTIFICATION: The Appraiser certifies and agrees that:
noneA 6260MC
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
LAND TITLE Pt NW 19-39-01-W5
748-4602 CERTIFICATE Lacombe County
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
ADDRESS:
TEL: ( 403 )
LAND TITLE Pt NW 19-39-01-W5
748-4602 CERTIFICATE Lacombe County
CLIENT: Nancy Pollreis
ADDRESS OF PROPERTY
Aztech Appraisals
GOODS & SERVICES TAX: 7.00%
CLIENT: Nancy Pollreis
Aztech Appraisals
LENDER/
AS AT: March 16/2015
APPRAISED
BORROWER:
$30.50
$10.00ADDITIONAL CHARGES: Title Search
INVOICE
ADDRESS OF Pt NW 19-39-01-W5
PROPERTY: Lacombe County
5017 50th Street
Lacombe, AB T4L 1X9
GST#844775213
TERMS - Payable in full upon receipt.
PLEASE MAKE CHEQUES PAYABLE TO:
A SERVICE CHARGE OF 1.75% PER MONTH WILL BE ADDED TO ALL
ACCOUNTS AFTER 30 DAYS. [ 21.00% PER ANNUM ]
Aztech Appraisals
AMOUNT PAID:
BALANCE DUE: $640.50
GOODS & SERVICES TAX: 5%
INVOICE SUBTOTAL: $610.00
APPRAISAL FEE: $600.00
March 16/2015
FILE NO. INVOICE DATE INVOICE NO.
Aztech Appraisals