1099 deerwood apraisal
DESCRIPTION
1099 Deerwood ApraisalTRANSCRIPT
File No.
APPRAISAL OF
LOCATED AT:
CLIENT:
AS OF:
BY:
1099 Deerwood Trail J
Joseph P McGuigan
October 21, 2010
Nashville, TN 37215P. O. Box 150209
Gerry & Allyson House
Pegram, TN 371431099 Deerwood Trail
File No.
File Number:
In accordance with your request, I have appraised the real property at:
The purpose of this appraisal is to develop an opinion of the defined value of the subject property, as improved.The property r ights appraised are the fee simple interest in the site and improvements.
In my opinion, the defined value of the property as of i s :
The at tached repor t conta ins the descr ip t ion, analys is and suppor t ive data for the conclus ions,final opinion of value, descriptive photographs, assignment conditions and appropriate certif ications.
1099 Deerwood Trail J
Joseph P McGuigan
Seven Hundred Fifty Thousand Dollars$750,000
October 21, 2010
Pegram, TN 371431099 Deerwood Trail
1099 Deerwood Trail J
Nashville, TN 37215P. O. Box 150209Gerry & Allyson House
Gerry House
Residential Appraisal Report File No.
The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal.
Client Name/Intended User E-mail
Client Address City State Zip
Additional Intended User(s)
Intended Use
PU
RP
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Property Address City State Zip
Owner of Public Record County
Legal Description
Assessor's Parcel # Tax Year R.E. Taxes $
Neighborhood Name Map Reference Census Tract
Property Rights Appraised Fee Simple Leasehold Other (describe)
SU
BJE
CT
My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
Prior Sale/Transfer: Date Price Source(s)
Analysis of prior sale or transfer history of the subject property (and comparable sales, if applicable)
Offerings, options and contracts as of the effective date of the appraisal
SA
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Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use %
Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit %
Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit %
Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family %
Neighborhood Boundaries High Commercial %
Pred. Other %
Neighborhood Description
Market Conditions (including support for the above conclusions)
NE
IGH
BO
RH
OO
D
Dimensions Area Shape View
Specific Zoning Classification Zoning Description
Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe)
Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe.
Utilities Public Other (describe) Public Other (describe) Off-site Improvements—Type Public Private
Electricity Water Street
Gas Sanitary Sewer Alley
Site Comments
SIT
E
GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materials INTERIOR materials
Units One One w/Acc. unit Concrete Slab Crawl Space Foundation Walls Floors
# of Stories Full Basement Partial Basement Exterior Walls Walls
Type Det. Att. S-Det./End Unit Basement Area sq. ft. Roof Surface Trim/Finish
Existing Proposed Under Const. Basement Finish % Gutters & Downspouts Bath Floor
Design (Style) Outside Entry/Exit Sump Pump Window Type Bath Wainscot
Year Built Storm Sash/Insulated Car Storage None
Effective Age (Yrs) Screens Driveway # of Cars
Attic None Heating FWA HW Radiant Amenities WoodStove(s) # Driveway Surface
Drop Stair Stairs Other Fuel Fireplace(s) # Fence Garage # of Cars
Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars
Finished Heated Individual Other Pool Other Att. Det. Built-in
Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe)
Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade
Additional Features
Comments on the Improvements
IMP
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Page 1 of 4This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.
(gPAR™) General Purpose Appraisal Report 05/2010GPAR1004_10 05262010
Produced using ACI software, 800.234.8727 www.aciweb.com
1099 Deerwood Trail J
This appraisal is to estimate the fair market value of the property, as of the specified date of valuation. The intended use of this appraisal is for the client to gain knowledge on market value for the subject property.
The intended user is the client.37215TNNashvilleP. O. Box 150209
[email protected]; [email protected] & Allyson House
X701.0277Deerbrook Estate1,397.00200928.19, 52.00
Lot 15 Deerbrook Estate (Deed Book128, Page 739, Deed Book 269, Page 562)CheathamHouse
37143TNPegram1099 Deerwood Trail
The subject property is currently listed for $1,890,000. It has been on the market since October 13, 2010. MLS
No sale within the past three years for the subject property.Public RecordsN/AN/A
X
Supply and demand are generally in balance in the subject neighborhood. Buydowns and excessive sales concessions are not typical within this area. Marketing times for properties similar to the subject property will be over a six month time period.
The subject property is located within the southeastern portion of Cheatham county just west of the county line. Major roads and thoroughfare such as Pond Creek Road, nearby Highway 70, and Interstate 40 provide convenient access to all necessary support services. Downtown Nashville is within a thirty minute drive from the subject property.
100
1040+New
125425+
50NORTH to River Road; EAST to the Cheatham county line; SOUTH to Highway 70;
WEST to Sams Creek Road.
XXX
XXX
There does not appear to be any operating dysfunction with the septic tank system.None
XAsphaltSeptic TankX
XPropaneX
X
XX
ResidentialResidentialPrivate LakeIrregular+/- 53.34 AcresApproximately +/- 53.34 Acres
The subject property has been well maintained and is deemed to be in very good condition. Recent updates include new hardwood floors, new countertops, new recessed lights, new shades, new interior paint, rescreened the screened in deck, new hot tub, painted all decks, new 1/2 bath, new main level bath and built the guest house.
See Attached Addendum2,5073.537
Fan/HoodXXXXXX
2XGravel
Slate/Very GoodHwd, Slate/Very GdWood/Very GoodDrywall/Very GoodHwd/Very Good
GstHseXXXX2X
YesNoDH, CasementAluminumFSFrame, LogCB
XGas
X
0
X
X
51999/2009
1.5 StoryX
X1.5 Story
X
Residential Appraisal Report File No.
FEATURE SUBJECT
Address
Proximity to Subject
Sale Price $
Sale Price/Gross Liv. Area $ sq. ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION
Sale or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade Total Bdrms. Baths
Room Count
Gross Living Area sq. ft.
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total)
Adjusted Sale Price
of Comparables
COMPARABLE SALE NO. 1
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 2
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 3
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
Summary of Sales Comparison Approach
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COST APPROACH TO VALUE
Site Value Comments
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW
Source of cost data
Quality rating from cost service Effective date of cost data
Comments on Cost Approach (gross living area calculations, depreciation, etc.)
OPINION OF SITE VALUE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $
Dwelling Sq. Ft. @ $ . . . . . . . . . . . . = $
Sq. Ft. @ $ . . . . . . . . . . . . = $
Garage/Carport Sq. Ft. @ $ . . . . . . . . . . . . = $
Total Estimate of Cost-New . . . . . . . . . . . . = $
Less Physical Functional External
Depreciation = $ ( )
Depreciated Cost of Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $
"As-is" Value of Site Improvements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . = $
INDICATED VALUE BY COST APPROACH . . . . . . . . . . . . . . . . . . . . . . = $
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INCOME APPROACH TO VALUE
Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income Approach
Summary of Income Approach (including support for market rent and GRM)
INC
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Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $
This appraisal is made "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,
subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed subject to the following:
Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion of the defined value of the real property
that is the subject of this report is $ as of , which is the effective date of this appraisal.
RE
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NC
ILIA
TIO
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Page 2 of 4This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.
(gPAR™) General Purpose Appraisal Report 05/2010GPAR1004_10 05262010
Produced using ACI software, 800.234.8727 www.aciweb.com
1099 Deerwood Trail J
GravelDrivewayFence,Gate, DockFence, Etc2 FPsFPs, EtcWrpPr,LrgDck,ScPr2/GarageAverageCentralAdequateNo FinishedNone
2,50740.003.537
Very Good1999/2009Good1.5 StoryPrivate Lake+/- 53.34 AcresFee SimpleSuburban
0.00
Pegram1099 Deerwood Trail
755,94027.15.1
36,940XGravel
10,000None3,000FP5,000WrpPor, WrapBalc
2/GarageAverageCentralAdequateNo Finished
-17,5801758 SF-61,4804,044
3,0003512
Very Good2007Good2 StoryRiverview
95,000+/- 43.62 acresFee SimpleSuburban04/09/2010None KnownConventional
(Closed Sale)MLS, Public Records
177.79719,000
6.73 miles SWKingston Springs1106 Street Road
753,56046.515.9
103,560XGravel
-7,000Fence, Barn3,000FP
20,000Porch, Deck-12,0003/Garage, 3/Carprt
AverageCentralAdequate
-14,640488 Finished-5,760576 SF
-60,0404,0083.5410
20,000Good1986
15,000Average/Good1.5 StoryCreek
145,000+/- 51 acres/InferFee SimpleSuburban11/04/2008None KnownConventional
(Closed Sale)MLS, Public Records
162.18650,000
10.27 miles NEJoelton5820 Craft Road
719,36057.041.1
209,360XGravel
-7,000Fence, Barn3,000FP
10,0001800 SF Porches12,000None
AverageCentralAdequateNo FinishedNone
-31,6403,2983.5410
Very Good2001
15,000Average/Good1 StorySimilar Residential
210,000+/- 31.28 acresFee SimpleSuburban09/30/2010
-2,000Seller ParticipationConventional
(Closed Sale)MLS, Public Records
154.64510,000
21.71 miles NCedar Hill3409 Flewellyn Road
See Attached Addendum
777,500
10,000367,51231,958$31,958
65399,47011,02525.0044150,000Large Deck, Scr Deck, WrapPorch,2FPs,Fence,Gate,Dock
0None338,445135.002,507400,000
Cost analysis was derived from the Marshall & Swift Residential Cost Handbook, local builders estimates, and the appraisers own cost files. Square foot calculations were obtained by pulling a tape measure around the perimeter of the building. The remaining economic life of the subject property is 60 years based on an overall life expectancy of 65 years.
09/2010AverageMarshall & Swifts Cost Handbook / Appraiser Files
X
The site value has been derived from the sale of similar sites within the competitive market area and from prior appraisal files.
Omitted
10/21/2010750,000
The subject property has been appraised "as is".
X
Because buyers rely heavily on comparisons, the direct sales comparison approach is considered the best indicator of market value. The cost approach supports the sales comparison approach. There was insufficient data available to process the income approach.
Omitted777,500750,000
MCGUIGAN & ASSOCIATES, LLC
Residential Appraisal Report File No.
FEATURE SUBJECT
Address
Proximity to Subject
Sale Price $
Sale Price/Gross Liv. Area $ sq. ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION
Sale or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade Total Bdrms. Baths
Room Count
Gross Living Area sq. ft.
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total)
Adjusted Sale Price
of Comparables
COMPARABLE SALE NO. 4
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 5
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 6
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
Summary of Sales Comparison Approach
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Additional ComparablesThis form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.
(gPAR™) General Purpose Appraisal Report 05/2010GPAR1004_10 05262010
Produced using ACI software, 800.234.8727 www.aciweb.com
1099 Deerwood Trail J
GravelDrivewayFence,Gate, DockFence, Etc2 FPsFPs, EtcWrpPr,LrgDck,ScPr2/GarageAverageCentralAdequateNo FinishedNone
2,50740.003.537
Very Good1999/2009Good1.5 StoryPrivate Lake+/- 53.34 AcresFee SimpleSuburban
0.00
Pegram1099 Deerwood Trail
1,219,36018.2-12.7
177,640XGravel
-15,000Fn,Gate,Barn,Dock3,000FP
20,000Porch, Deck12,000None
AverageCentralAdequateNo FinishedNone
-15,6402,8983,000339
Very Good1982Good2 StoryPond
-185,000+/- 38.94 acres/SupFee SimpleSuburban07/30/2009None KnownCash
(Closed Sale)MLS, Public Records
482.061,397,000
20.53 miles SFranklin3385 Bailey Road
782,32025.2-10.6
92,680X-10,000Asphalt-7,000Fence, Barn3,000FP
20,000Porch, Cov Patio-12,0004/Garage
AverageCentralAdequateNo FinishedNone
-62,6804,0746,0002.538
20,000Good1982
15,000Average/Good2 StoryPond
-65,000+/- 31 acres/SuperFee SimpleSuburban08/30/2010None KnownConventional
(Closed Sale)MLS, Public Records
214.78875,000
22.11 miles SFranklin5501 Leipers Creek Road
555,96080.542.6
165,960XGravel
-5,000Barn3,000FP
20,000Porch, Deck12,0004/Basement
AverageCentralAdequateNo Finished
-17,4001740SF-51,6403,798
3.538
20,000Good1986
15,000Average/Good1 StorySimilar Residential
170,000+/- 36 acres/InferFee SimpleSuburban09/01/2009None KnownConventional
(Closed Sale)MLS, Public Records
102.69390,000
11.50 miles NNEJoelton7322 Old Clarksville Pike
Residential Appraisal Report File No.
FEATURE SUBJECT
Address
Proximity to Subject
Sale Price $
Sale Price/Gross Liv. Area $ sq. ft.
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS DESCRIPTION
Sale or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade Total Bdrms. Baths
Room Count
Gross Living Area sq. ft.
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total)
Adjusted Sale Price
of Comparables
COMPARABLE SALE NO. 7
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 8
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
COMPARABLE SALE NO. 9
$
$ sq. ft.
DESCRIPTION +(-) $ Adjustment
Total Bdrms. Baths
sq. ft.
+ - $
Net Adj. %
Gross Adj. % $
Summary of Sales Comparison Approach
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Additional ComparablesThis form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.
(gPAR™) General Purpose Appraisal Report 05/2010GPAR1004_10 05262010
Produced using ACI software, 800.234.8727 www.aciweb.com
1099 Deerwood Trail J
GravelDrivewayFence,Gate, DockFence, Etc2 FPsFPs, EtcWrpPr,LrgDck,ScPr2/GarageAverageCentralAdequateNo FinishedNone
2,50740.003.537
Very Good1999/2009Good1.5 StoryPrivate Lake+/- 53.34 AcresFee SimpleSuburban
0.00
Pegram1099 Deerwood Trail
731,88045.6-39.0
468,120X-10,000Asphalt-7,000Fence, Barn
2 FPs15,000Porch, Deck, Patio
2/GarageAverageCentralAdequate
-34,8301161 Finished-11,6101161 SF24,3201,899-3,000449
Very Good1996Good1.5 StoryPond
-345,000+/- 93 acres/SuperFee SimpleSuburbanActive
-96,000-8%Active
(Active Listing)MLS
631.911,200,000
22.68 miles SFranklin5873 Davis Hollow Road
859,64026.4-13.9
139,360XGravel
10,000None-6,0004 FPs15,000Porch, Deck, Patio12,000None
AverageCentralAdequateNo FinishedNone
-35,4403,3933.5410
Very Good25,0001918
Good2 StoryCreek
-80,000+/- 120 acresFee SimpleSuburbanActive
-79,920-8%Active
(Active Listing)MLS
294.43999,000
12.24 miles NJoelton1099 Deer View Drive
Residential Appraisal Report File No.
Scope of Work, Assumptions and Limiting Conditions
Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as " the type and extent of research and analyses in an assignment." In short, scope of work is simply what the appraiser did and did not do during the course of the assignment. It includes, but is not limited to: the extent to which the property is identified and inspected, the type and extent of data researched, the type and extent of analyses applied to arrive at opinions or conclusions.
The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client, other identified intended users and to the intended use of the report. This report was prepared for the sole and exclusive use of the client and other identified intended users for the identified intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report.
The appraiser's certification appearing in this appraisal report is subject to the following conditions and to such other specific conditions as are set forth by the appraiser in the report. All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the assignment results.
1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or title thereto, nor does the appraiser render any opinion as to the title, which is assumed to be good and marketable. The property is appraised as though under responsible ownership.
2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property.
3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been previously made thereto.
4. Neither all, nor any part of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations, or the firm with which the appraiser is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by anyone to the public through advertising, public relations, news, sales, or other media, without the written consent of the appraiser.
5. The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice.
6. Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct. However, no responsibility for accuracy of such items furnished to the appraiser is assumed by the appraiser.
7. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes no responsibility for such conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and should not be considered as such.
8. The appraiser specializes in the valuation of real property and is not a home inspector, building contractor, structural engineer, or similar expert, unless otherwise noted. The appraiser did not conduct the intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the property and any improvements is for purposes of developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condition are based on surface observations only. The appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation, radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested.
This appraisal report should not be used to disclose the condition of the property as it relates to the presence/absence of defects. The client is invited and encouraged to employ qualified experts to inspect and address areas of concern. If negative conditions are discovered, the opinion of value may be affected.
Unless otherwise noted, the appraiser assumes the components that constitute the subject property improvement(s) are fundamentally sound and in working order.
Any viewing of the property by the appraiser was limited to readily observable areas. Unless otherwise noted, attics and crawl space areas were not accessed. The appraiser did not move furniture, floor coverings or other items that may restrict the viewing of the property.
9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will be competently performed.
10. Unless the intended use of this appraisal specifically includes issues of property insurance coverage, this appraisal should not be used for such purposes. Reproduction or Replacement cost figures used in the cost approach are for valuation purposes only, given the intended use of the assignment. The Definition of Value used in this assignment is unlikely to be consistent with the definition of Insurable Value for property insurance coverage/use.
11. The ACI General Purpose Appraisal Report (GPAR™) is not intended for use in transactions that require a Fannie Mae 1004/Freddie Mac 70 form, also known as the Uniform Residential Appraisal Report (URAR).
Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions
Page 3 of 4This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.
(gPAR™) General Purpose Appraisal Report 05/2010GPAR1004_10 05262010
Produced using ACI software, 800.234.8727 www.aciweb.com
1099 Deerwood Trail J
The scope of this assignment included an exterior and interior inspection of the subject property on 10/21/2010. Because buyers rely heavily on comparisons, the direct sales comparison approach is considered the best indicator of market value. The cost approach supports the sales comparison approach. There was insufficient data available to process the income approach.
Residential Appraisal Report File No.
Appraiser's Certification
The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief:
1. The statements of fact contained in this report are true and correct.
2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser's personal, impartial, and unbiased professional analyses, opinions, and conclusions.
3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties involved.
4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment.
5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results.
6. The appraiser's compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.
7. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.
8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report.
9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by:
Additional Certifications:
Definition of Value: Market Value Other Value:
Source of Definition:
ADDRESS OF THE PROPERTY APPRAISED:
EFFECTIVE DATE OF THE APPRAISAL:
APPRAISED VALUE OF THE SUBJECT PROPERTY $
APPRAISER
Signature:
Name:
State Certification #
or License #
or Other (describe): State #:
State:
Expiration Date of Certification or License:
Date of Signature and Report:
Date of Property Viewing:
Degree of property viewing:
Interior and Exterior Exterior Only Did not personally view
SUPERVISORY APPRAISER
Signature:
Name:
State Certification #
or License #
State:
Expiration Date of Certification or License:
Date of Signature:
Date of Property Viewing:
Degree of property viewing:
Interior and Exterior Exterior Only Did not personally view
Page 4 of 4This form Copyright © 2005-2010 ACI Division of ISO Claims Services, Inc., All Rights Reserved.
(gPAR™) General Purpose Appraisal Report 05/2010GPAR1004_10 05262010
Produced using ACI software, 800.234.8727 www.aciweb.com
1099 Deerwood Trail J
X
10/21/201011/04/2010
12/31/2011TN
00003168Joseph P McGuigan
750,00010/21/2010
Pegram, TN 371431099 Deerwood Trail
Market value is 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, knowledgeably 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, and 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 U.S. dollars or in terms of financial arrangements comparable thereto; and (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.
Fannie MaeX
Jared Smith Certified Residential Appraiser #3556 has contributed significantly to the completion of this report.
MCGUIGAN & ASSOCIATES, LLC
ADDENDUM
Client: Gerry & Allyson House File No.: 1099 Deerwood Trail JProperty Address: 1099 Deerwood Trail Case No.:City: Pegram State: TN Zip: 37143
Addendum Page 1 of 1
Additional FeaturesAdditional features include a 23 foot vaulted beamed ceiling, five skylights and a fireplace in the living room, coriancountertops and ceramic tile backsplash in the kitchen, skylight in the main house bedroom, vaulted beamed ceiling in thebedroom above the garage, granite countertops in the bath over the garage, 18 foot vaulted wood beam ceiling, wet bar anda fireplace in the living room of the guest house, large deck, screened porch, covered wrap porch around the guest house,two private lakes with small dock and a gate with wrought iron fencing and stone column.
Comments on Sales ComparisonAn extensive search was conducted of all of Cheatham, Dickson, Robertson, Maury and portions of Davidson andWilliamson Counties in an effort to find similar sales. Extremely few sales were found. Normal time restrictions were alsoextended in an effort to find the best sales. Sales two, four and six exceed normal time restrictions of one year. The abovechosen comparables are from the subject's competitive market area and offer good evidence of market value. These saleswere chosen due to their similarity to the subject in size and appeal. Site adjustments were made on a per site basis withregards to size, location and view. Sales one, two, three, five, six, seven and eight exceed normal percentage adjustmentparameters due to the necessary adjustments. All sales exceed normal distance restrictions but still provide good evidenceof market value. Condition and age adjustments were made due to differences in the original date of construction andupdating. Quality of construction adjustments were made with regards to the subject's superior upgrades concerning thekitchen and baths. Sales seven and eight are current active listings that have been provided to lend additional support to theappraised value. These sales have been adjusted using a list/sales price ratio of 92% derived from our analysis of themarketplace. All sales were given consideration in estimating the market value for the subject property.
FLOORPLAN
Client: File No.:Property Address: Case No.:City: State: Zip: 37143TNPegram
1099 Deerwood Trail1099 Deerwood Trail JGerry & Allyson House
Comments:
AREA CALCULATIONS SUMMARYCode Description Size Net TotalsGLA1 First Floor Main Hou 1089.00
First Floor Abv Grge 441.00First Floor Gst Hse 707.25
GLA22237.25
2nd Floor Main House 270.00P/P
270.00Deck 1716.75Screened Porch 217.50Porch 597.00
GAR2531.25
Garage 441.00 441.00
TOTAL LIVABLE (rounded) 2507
Breakdown SubtotalsLIVING AREA BREAKDOWN
First Floor Main Hou12.0 x 54.5 654.00 15.0 x 29.0 435.00
First Floor Abv Grge21.0 x 21.0 441.00
First Floor Gst Hse20.5 x 34.5 707.25
2nd Floor Main House15.0 x 18.0 270.00
5 Calculations Total (rounded) 2507
Sketch by Apex IV™
25.5'
12.0
'
54.5'
27.0
'
29.0'
15.5
'
3.0'
13.5
'
5.5'
3.5'
32.0'
16.0
'
28.0'
14.5'
15.0
'
11.0'
16.0'
16.0
'
19.0'
15.0
'
60.5'
6.0'
24.5'
8.5'
21.0'
21.0
'
21.0
'
21.0'
15.0
'
18.0'
20.5
'
34.5'8.
5'
26.0'
10.0'
8.0'
18.0'
37.0
'
34.0'
Living Room
Bath
Office/Bedroom
Porch
Loft Bath1/2
2 Car
Garage
Bedroom
Bath
Deck
Deck
Deck
Screened
Deck
BedroomUtility
BathKitchen
Living Room
LOCATION MAP
Client: File No.:Property Address: Case No.:City: State: Zip: 37143TNPegram
1099 Deerwood Trail1099 Deerwood Trail JGerry & Allyson House
SUBJECT PROPERTY PHOTO ADDENDUM
Client: File No.:Property Address: Case No.:City: State: Zip:
FRONT VIEW OFSUBJECT PROPERTY
Appraised Date:Appraised Value: $
REAR VIEW OFSUBJECT PROPERTY
STREET SCENE
37143TNPegram1099 Deerwood Trail
1099 Deerwood Trail JGerry & Allyson House
750,000October 21, 2010
Client: File No.:Property Address: Case No.:City: State: Zip:
Produced using ACI software, 800.234.8727 www.aciweb.com PHT6
37143TNPegram1099 Deerwood Trail
1099 Deerwood Trail JGerry & Allyson House
Client: File No.:Property Address: Case No.:City: State: Zip:
Produced using ACI software, 800.234.8727 www.aciweb.com PHT6
37143TNPegram1099 Deerwood Trail
1099 Deerwood Trail JGerry & Allyson House
COMPARABLE PROPERTY PHOTO ADDENDUM
Client: File No.:Property Address: Case No.:City: State: Zip:
COMPARABLE SALE #1
Sale Date:Sale Price: $
COMPARABLE SALE #2
Sale Date:Sale Price: $
COMPARABLE SALE #3
Sale Date:Sale Price: $
37143TNPegram1099 Deerwood Trail
1099 Deerwood Trail JGerry & Allyson House
719,00004/09/2010
Kingston Springs1106 Street Road
650,00011/04/2008
Joelton5820 Craft Road
510,00009/30/2010
Cedar Hill3409 Flewellyn Road
COMPARABLE PROPERTY PHOTO ADDENDUM
Client: File No.:Property Address: Case No.:City: State: Zip:
COMPARABLE SALE #4
Sale Date:Sale Price: $
COMPARABLE SALE #5
Sale Date:Sale Price: $
COMPARABLE SALE #6
Sale Date:Sale Price: $
37143TNPegram1099 Deerwood Trail
1099 Deerwood Trail JGerry & Allyson House
1,397,00007/30/2009
Franklin3385 Bailey Road
875,00008/30/2010
Franklin5501 Leipers Creek Road
390,00009/01/2009
Joelton7322 Old Clarksville Pike
COMPARABLE PROPERTY PHOTO ADDENDUM
Client: File No.:Property Address: Case No.:City: State: Zip:
COMPARABLE SALE #7
Sale Date:Sale Price: $
COMPARABLE SALE #8
Sale Date:Sale Price: $
COMPARABLE SALE #9
Sale Date:Sale Price: $
37143TNPegram1099 Deerwood Trail
1099 Deerwood Trail JGerry & Allyson House
1,200,000Active
Franklin5873 Davis Hollow Road
999,000Active
Joelton1099 Deer View Drive
File No.
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********* INVOICE *********
File Number:
Invoice # :Order Date :Reference/Case # :PO Number :
$$
Invoice Total $State Sales Tax @ $Deposit ( $ )Deposit ( $ )
Amount Due $
Terms:
Please Make Check Payable To:
Fed. I.D. #:
1099 Deerwood Trail J
PAID
0.00
700.000.00
700.00
Pegram, TN 371431099 Deerwood Trail
32967
Gerry House
1099 Deerwood Trail J