Uniform Residential Appraisal Report File # S U B J E C T C O N T R A C T N E I G H B O R H O O D S I T E I M P R O V E M E N T S The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address City State Zip Code Borrower Owner of Public Record County Legal Description Assessor's Parcel # Tax Year R.E. Taxes $ Neighborhood Name Map Reference Census Tract Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month Property Rights Appraised Fee Simple Leasehold Other (describe) Assignment Type Purchase Transaction Refinance Transaction Other (describe) Lender/Client Address Is the su bj ect property currentl y of fe red for sa le or has it been of fe red for sale in t he twel ve mon th s pri or t o th e effecti ve date of this appraisal? Yes No Report data source(s) used, offering price(s), and date(s). I did did n ot analyze the con trac t for sale for t he subj ec t pu rchase tran sac tio n. Expl ain the res ult s of the anal ysi s of the contrac t for sale or wh y th e a nal ysis was not performed. Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s) Is the re a ny fi nancial as si stance (l oa n charges, sale con cessio ns , gif t or d ownp ay me nt assis ta nc e, etc.) to be paid by any pa rt y on behalf o f th e borrowe r? Ye s No If Yes, report the total dollar amount and describe the items to be paid. Note: Race and the racial composition of t he neighborhood are not appraisal factors. Neighborhood Characteristics Location Urban Suburban Rural Built-Up Over 75% 25-75% Under 25% Growth Rapid Stable Slow One-Unit Housing Trends Property Values Increasing Stable Declining Demand/Supply Shortage In Balance Over Supply Marketing Time Under 3 mths 3-6 mths Over 6 mths One-Unit Housing PRICE $ (000) AGE (yrs) Low High Pred. Present Land Use % One-Unit % 2-4 Unit % Multi-Family % Commercial % Other % Neighborhood Boundaries Neighborhood Description Market Conditions (including support for the above conclusions) Dimensions Area Shape View Specific Zoning Classification Zoning Description Zoning C omp lia nce Legal Legal Nonco nf or ming (Gra ndfathered Use) No Zoning Illegal (d es cr i be) Is th e hi ghe st and best us e o f s ubject pr oper ty as improved (or as proposed p er plans and speci fic ations) th e pr es en t u se ? Yes No If No, de scribe Utilities Public Other (describe) Public Other (describe) Electricity Gas Water Sanitary Sewer Off-site Improvements - Type Public Private Street Alley FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date Ar e the u tilities and off - si t e i mprovements t ypical for t he m arket area? Yes No If No, des cr ib e Ar e t he re any advers e si te c on di ti on s or e xt ernal f ac tors ( easemen ts , encroac hm ents, e nv ir onmen ta l co nd it io ns , l and uses, e tc. )? Ye s No If Y es , de sc ri be General Description Units One One with Accessory Unit # of Stories Type Det. Att. S-Det./End Unit Existing Proposed Under Const. Design (Style) Year Built Effective Age (Yrs) Foundation Concrete Slab Crawl Space Full Basement Partial Basement Basement Area sq.ft. Basement Finish % Outside Entry/Exit Sump Pump Evidence o f Infestation Dampness Settlement Ex te rior De scription ma terial s/ co ndition Foundation Walls Exterior Walls Roof Surface Gutters & Downspouts Window Type Storm Sash/Insulated Screens Interior materials/condition Floors Walls Trim/Finish Bath Floor Bath Wainscot Attic None Drop Stair Stairs Floor Scuttle Finished Heated Heating FWA HWBB Radiant Other Fuel Cooling Central Air C o ndi tio ning Individual Other Amenities Fireplace(s) # Patio/DeckPool Woodstove(s) # Fence Porch Other Car Storage None D ri ve w ay # of Ca rs Driveway Surface Garage # of Cars Carport # of Cars Att. Det. Built-in Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe) Finished area abovegrade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade Additional features (special energy effi cient items, etc.). Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). Ar e t here a ny ph ys ical deficiencies or adve rse c on diti on s that a ff ec t th e liv ab ilit y, soundness, or s tr uc tu ral int egr it y of th e prope rt y? Ye s No If Yes, describe Watkins & Associates 5978A 4227 NE 10th Ave Portland OR 97211 PETERSON PETERSON Mul tnomah LINCOLN PK ANX, BLK 9 LOT 15 R207319 2012 1,599 Sabin 596-H1 0033.02 0 0 Pinnacle Capital 1620 E Roseville Parkway #248, Roseville, CA 95661 Accordin g to RMLS the su bject has n ot been l isted in the la st twel ve mont hs. 137 529 278 1 120 85 80 3 2 15 The subject neighborhood is bordered on the north by Alberta Street, on the south by Russell Street, on the east by 7th Avenue, and on the west by Interstate 5. See attached Supplemental Addendum. See attached form 1004MC 50 x 100 5000 sf rectangular N;Res; R 5 Residential, 5000 sf minimum lot si ze asphalt none X 4101830095E 11/26/2010 2 traditional 1906 20 959 0 concrete/average asb.shgl,wd.shgl/gd. composition/average metal/average wood,vinyl/avg,good partial thermal pane partial screens wd,conc.,linol/gd. plstr,drywl./avg./gd wood/avg.,good tile,linol./good FG,tile/avg,good Gas HRV 0 Patio none 0 Rear fcg. 3 Covered none 0 NA 0 0 8 4 2.0 1,737 See atta ch ed Su lemen tal A ddendum. C3;Kitchen-remodeled-one to five years ago;Bathrooms-remodeled-six to ten years ago;See attached Supplemental Addendum. Watkins & Associates 5978A 4227 NE 10th Ave Portland OR 97211 PETERSON PETERSON Mul tnomah LINCOLN PK ANX, BLK 9 LOT 15 R207319 2012 1,599 Sabin 596-H1 0033.02 0 0 Pinnacle Capital 1620 E Roseville Parkway #248, Roseville, CA 95661 Accordin g to RMLS the su bject has n ot been l isted in the la st twel ve mont hs. 137 529 278 1 120 85 80 3 2 15 The subject neighborhood is bordered on the north by Alberta Street, on the south by Russell Street, on the east by 7th Avenue, and on the west by Interstate 5. See attached Supplemental Addendum. See attached form 1004MC 50 x 100 5000 sf rectangular N;Res; R 5 Residential, 5000 sf minimum lot si ze asphalt none X 4101830095E 11/26/2010 2 traditional 1906 20 959 0 concrete/average asb.shgl,wd.shgl/gd. composition/average metal/average wood,vinyl/avg,good partial thermal pane partial screens wd,conc.,linol/gd. plstr,drywl./avg./gd wood/avg.,good tile,linol./good FG,tile/avg,good Gas HRV 0 Patio none 0 Rear fcg. 3 Covered none 0 NA 0 0 8 4 2.0 1,737 See atta ch ed Su lemen tal A ddendum. C3;Kitchen-remodeled-one to five years ago;Bathrooms-remodeled-six to ten years ago;See attached Supplemental Addendum. Uniform Residential Appraisal Report File # S U B J E C T C O N T R A C T N E I G H B O R H O O D S I T E I M P R O V E M E N T S The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address City State Zip Code Borrower Owner of Public Record County Legal Description Assessor's Parcel # Tax Year R.E. Taxes $ Neighborhood Name Map Reference Census Tract Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month Property Rights Appraised Fee Simple Leasehold Other (describe) Assignment Type Purchase Transaction Refinance Transaction Other (describe) Lender/Client Address Is the su bj ect property currentl y of fe red for sa le or has it been of fe red for sale in t he twel ve mon th s pri or t o th e effecti ve date of this appraisal? Yes No Report data source(s) used, offering price(s), and date(s). I did did n ot analyze the con trac t for sale for t he subj ec t pu rchase tran sac tio n. Expl ain the res ult s of the anal ysi s of the contrac t for sale or wh y th e a nal ysis was not performed. Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s) Is the re a ny fi nancial as si stance (l oa n charges, sale con cessio ns , gif t or d ownp ay me nt assis ta nc e, etc.) to be paid by any pa rt y on behalf o f th e borrowe r? Ye s No If Yes, report the total dollar amount and describe the items to be paid. Note: Race and the racial composition of t he neighborhood are not appraisal factors. Neighborhood Characteristics Location Urban Suburban Rural Built-Up Over 75% 25-75% Under 25% Growth Rapid Stable Slow One-Unit Housing Trends Property Values Increasing Stable Declining Demand/Supply Shortage In Balance Over Supply Marketing Time Under 3 mths 3-6 mths Over 6 mths One-Unit Housing PRICE $ (000) AGE (yrs) Low High Pred. Present Land Use % One-Unit % 2-4 Unit % Multi-Family % Commercial % Other % Neighborhood Boundaries Neighborhood Description Market Conditions (including support for the above conclusions) Dimensions Area Shape View Specific Zoning Classification Zoning Description Zoning C omp lia nce Legal Legal Nonco nf or ming (Gra ndfathered Use) No Zoning Illegal (d es cr i be) Is th e hi ghe st and best us e o f s ubject pr oper ty as improved (or as proposed p er plans and speci fic ations) th e pr es en t u se ? Yes No If No, de scribe Utilities Public Other (describe) Public Other (describe) Electricity Gas Water Sanitary Sewer Off-site Improvements - Type Public Private Street Alley FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date Ar e the u tilities and off - si t e i mprovements t ypical for t he m arket area? Yes No If No, des cr ib e Ar e t he re any advers e si te c on di ti on s or e xt ernal f ac tors ( easemen ts , encroac hm ents, e nv ir onmen ta l co nd it io ns , l and uses, e tc. )? Ye s No If Y es , de sc ri be General Description Units One One with Accessory Unit # of Stories Type Det. Att. S-Det./End Unit Existing Proposed Under Const. Design (Style) Year Built Effective Age (Yrs) Foundation Concrete Slab Crawl Space Full Basement Partial Basement Basement Area sq.ft. Basement Finish % Outside Entry/Exit Sump Pump Evidence o f Infestation Dampness Settlement Ex te rior De scription ma terial s/ co ndition Foundation Walls Exterior Walls Roof Surface Gutters & Downspouts Window Type Storm Sash/Insulated Screens Interior materials/condition Floors Walls Trim/Finish Bath Floor Bath Wainscot Attic None Drop Stair Stairs Floor Scuttle Finished Heated Heating FWA HWBB Radiant Other Fuel Cooling Central Air C o ndi tio ning Individual Other Amenities Fireplace(s) # Patio/DeckPool Woodstove(s) # Fence Porch Other Car Storage None D ri ve w ay # of Ca rs Driveway Surface Garage # of Cars Carport # of Cars Att. Det. Built-in Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe) Finished area abovegrade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade Additional features (special energy effi cient items, etc.). Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). Ar e t here a ny ph ys ical deficiencies or adve rse c on diti on s that a ff ec t th e liv ab ilit y, soundness, or s tr uc tu ral int egr it y of th e prope rt y? Ye s No If Yes, describe Page #1 Main File No. 5978A
Transcript
5/13/2018 Appraisal of Property with ADU - slidepdf.com
The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
Property Address City State Zip Code
Borrower Owner of Public Record County
Legal Description
Assessor's Parcel # Tax Year R.E. Taxes $
Neighborhood Name Map Reference Census Tract
Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month
Property Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)
Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes No
Report data source(s) used, offering price(s), and date(s).
I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.
Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.
Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics
Location Urban Suburban Rural
Built-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow
Demand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths
One-Unit HousingPRICE
$ (000)
AGE
(yrs)Low
HighPred.
Present Land Use %One-Unit %
2-4 Unit %Multi-Family %
Commercial %Other %
Neighborhood Boundaries
Neighborhood Description
Market Conditions (including support for the above conclusions)
Dimensions Area Shape ViewSpecific Zoning Classification Zoning Description
Zoning Compliance Lega l Lega l Nonconforming (Grandfathered Use) No Zoning Illegal (descr ibe)Is the highest and best use of 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)
ElectricityGas
WaterSanitary Sewer
Off-site Improvements - Type Public Private
StreetAlley
FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the util ities and of f-si te improvements typical for the market area? Yes No If No, descr ibe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe
General DescriptionUnits One One with Accessory Unit
# of StoriesType Det. Att. S-Det./End Unit
Existing Proposed Under Const.Design (Style)
Year BuiltEffective Age (Yrs)
FoundationConcrete Slab Crawl Space
Full Basement Partial BasementBasement Area sq.ft.
Cooling Centra l Ai r Condi tioningIndividual Other
AmenitiesFireplace(s) #
Patio/Deck Pool
Woodstove(s) #Fence
PorchOther
Car Storage NoneDriveway # of Cars
Driveway SurfaceGarage # of Cars
Carport # of CarsAtt. 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 (special energy effi cient items, etc.).
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
Are there any physical deficiencies or adverse conditions that affect the livabili ty, soundness, or structural integrity of the property? Yes No If Yes, describe
Does the property generally conform to the neighborhood (functional uti li ty, style, condition, use, construction, etc.)? Yes No If No, describe
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Fannie Mae Form 1004 March 2005
Watkins & Associates
5978A
4227 NE 10th Ave Portland OR 97211
PETERSON PETERSON Multnomah
LINCOLN PK ANX, BLK 9 LOT 15
R207319 2012 1,599
Sabin 596-H1 0033.02
0 0
Pinnacle Capital 1620 E Roseville Parkway #248, Roseville, CA 95661
According to RMLS the subject has not been listed in the last twelve months.
137
529
278
1
120
85
80
3
2
15The subject neighborhood is bordered on the north by Alberta Street, on the
south by Russell Street, on the east by 7th Avenue, and on the west by Interstate 5.
See attached Supplemental Addendum.
See attached form 1004MC
50 x 100 5000 sf rectangular N;Res;R 5 Residential, 5000 sf minimum lot size
asphalt
none
X 4101830095E 11/26/2010
2
traditional
1906
20
959
0
concrete/average
asb.shgl,wd.shgl/gd.
composition/average
metal/average
wood,vinyl/avg,good
partial thermal pane
partial screens
wd,conc.,linol/gd.
plstr,drywl./avg./gd
wood/avg.,good
tile,linol./good
FG,tile/avg,good
Gas
HRV
0
Patio
none
0
Rear fcg.
3 Covered
none
0
NA
0
0
8 4 2.0 1,737
See attached Supplemental Addendum.
C3;Kitchen-remodeled-one to five years
ago;Bathrooms-remodeled-six to ten years ago;See attached Supplemental Addendum.
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Watkins & Associates
5978A
4227 NE 10th Ave Portland OR 97211
PETERSON PETERSON Multnomah
LINCOLN PK ANX, BLK 9 LOT 15
R207319 2012 1,599
Sabin 596-H1 0033.02
0 0
Pinnacle Capital 1620 E Roseville Parkway #248, Roseville, CA 95661
According to RMLS the subject has not been listed in the last twelve months.
137
529
278
1
120
85
80
3
2
15The subject neighborhood is bordered on the north by Alberta Street, on the
south by Russell Street, on the east by 7th Avenue, and on the west by Interstate 5.
See attached Supplemental Addendum.
See attached form 1004MC
50 x 100 5000 sf rectangular N;Res;R 5 Residential, 5000 sf minimum lot size
asphalt
none
X 4101830095E 11/26/2010
2
traditional
1906
20
959
0
concrete/average
asb.shgl,wd.shgl/gd.
composition/average
metal/average
wood,vinyl/avg,good
partial thermal pane
partial screens
wd,conc.,linol/gd.
plstr,drywl./avg./gd
wood/avg.,good
tile,linol./good
FG,tile/avg,good
Gas
HRV
0
Patio
none
0
Rear fcg.
3 Covered
none
0
NA
0
0
8 4 2.0 1,737
See attached Supplemental Addendum.
C3;Kitchen-remodeled-one to five years
ago;Bathrooms-remodeled-six to ten years ago;See attached Supplemental Addendum.
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Uniform Residential Appraisal Report File #
S U
B J E C T
C O N T R A C T
N E I G H B O R H O O D
S I T E
I M P R O V E M E N T S
The purpose of this summary appraisal report is to provide the lender/client with an accurate, and adequately supported, opinion of the market value of the subject property.
Property Address City State Zip Code
Borrower Owner of Public Record County
Legal Description
Assessor's Parcel # Tax Year R.E. Taxes $
Neighborhood Name Map Reference Census Tract
Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month
Property Rights Appraised Fee Simple Leasehold Other (describe)Assignment Type Purchase Transaction Refinance Transaction Other (describe)
Lender/Client AddressIs the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes No
Report data source(s) used, offering price(s), and date(s).
I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was notperformed.
Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s)
Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the borrower? Yes NoIf Yes, report the total dollar amount and describe the items to be paid.
Note: Race and the racial composition of the neighborhood are not appraisal factors.Neighborhood Characteristics
Location Urban Suburban Rural
Built-Up Over 75% 25-75% Under 25%Growth Rapid Stable Slow
Demand/Supply Shortage In Balance Over SupplyMarketing Time Under 3 mths 3-6 mths Over 6 mths
One-Unit HousingPRICE
$ (000)
AGE
(yrs)Low
HighPred.
Present Land Use %One-Unit %
2-4 Unit %Multi-Family %
Commercial %Other %
Neighborhood Boundaries
Neighborhood Description
Market Conditions (including support for the above conclusions)
Dimensions Area Shape ViewSpecific Zoning Classification Zoning Description
Zoning Compliance Lega l Lega l Nonconforming (Grandfathered Use) No Zoning Illegal (descr ibe)Is the highest and best use of 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)
ElectricityGas
WaterSanitary Sewer
Off-site Improvements - Type Public Private
StreetAlley
FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map DateAre the util ities and of f-si te improvements typical for the market area? Yes No If No, descr ibe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe
General DescriptionUnits One One with Accessory Unit
# of StoriesType Det. Att. S-Det./End Unit
Existing Proposed Under Const.Design (Style)
Year BuiltEffective Age (Yrs)
FoundationConcrete Slab Crawl Space
Full Basement Partial BasementBasement Area sq.ft.
Cooling Centra l Ai r Condi tioningIndividual Other
AmenitiesFireplace(s) #
Patio/Deck Pool
Woodstove(s) #Fence
PorchOther
Car Storage NoneDriveway # of Cars
Driveway SurfaceGarage # of Cars
Carport # of CarsAtt. 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 (special energy effi cient items, etc.).
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
Are there any physical deficiencies or adverse conditions that affect the livabili ty, soundness, or structural integrity of the property? Yes No If Yes, describe
Does the property generally conform to the neighborhood (functional uti li ty, style, condition, use, construction, etc.)? Yes No If No, describe
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Fannie Mae Form 1004 March 2005
Page #1Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
ConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room Count
Gross Living Area sq.ft. sq.ft. sq.ft. 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 $ $ $
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain
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.Data Source(s)
My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3
Date of Prior Sale/TransferPrice of Prior Sale/Transfer
Data Source(s)Effective Date of Data Source(s)
Analysis of prior sale or transfer history of the subject property and comparable sales
Summary of Sales Comparison Approach
Indicated Value by Sales Comparison Approach $
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 beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:
Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is$ , as of , which is the date of inspection and the effective date of this appraisal.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 2 of 6 Fannie Mae Form 1004 March 2005
5978A
1 350,000 350,000
27 145,000 625,000
4227 NE 10th Ave
Portland, OR 97211
N;Res;
Fee Simple
5000 sf
N;Res;
traditional
Q3
106
C3
8 4 2.0
1,737
959sf0sfin
Average
FA/Rad./None
HRV/Insul.
None
Porches/Patio
Fireplaces/Fencing None/Rear fcg.
ADU Rooms & GLA 4/1/1 948 sf
11/30/2010
$325,000
County records
02/22/2012
6448 NE 8th Ave
Portland, OR 97211
1.05 miles N
350,000
226.68MLS#11150869;DOM 259
County/Doc#unvailable
ArmLth
Cash;0
s12/11;c02/12
A;Res; +38,800
Fee Simple
5,480 sf 0
N;Res;
traditional
Q3
109 0
C30
6 3 1.0 +13,000
1,544 +7,720
700sf0sfin +3,900
Average
FA/None 0
none +1,500
None
Porch/Patio +2,000
1FP/Rear fcg. -2,000
4/2/1 1100 sf -11,600
53,320
15.2
23.0 403,320
County records
02/22/2012
2814 NE Schuyler St
Portland, OR 97212
1.60 miles SE
475,000
236.32MLS#11661100;DOM 202
County/Doc#128718
ArmLth
Conv;0
s10/11;c11/11
B;Res; -52,300
Fee Simple
2,785 sf 0
N;Res;
traditional
Q2 0
1 0
C2 -24,200
7 4 2.1 -3,000
2,010 -10,920
0sf +14,400
Average
FA/None 0
HRV/Insul.
1/Attached -4,000
Porches/Patio
2FP/Rear fcg. -5,000
4/1/1 800 sf +4,400
-80,620
17.0
24.9 394,380
County records
02/22/2012
3406 NE 12th Ave
Portland, OR 97212
0.48 miles SE
459,900
339.16MLS#11345733;DOM 128
County/Doc#064053
ArmLth
Conv;5000 -5,000
s06/11;c04/11
B;Res; -50,600
Fee Simple
4,700 sf 0
N;Res;
traditional
Q3
87 0
C2 -23,5000
6 3 2.0 +7,000
1,356 +15,240
520sf0sfin +6,600
Average
FA/Central -2,000
none +1,500
2/Detached -8,000
Porch/Patio +2,000
1FP/Rear fcg. -2,000
4/1/1 420 sf +15,800
-42,960
9.3
30.3 416,940
County records
02/22/2012
RMLS/County records
RMLS/County records
The subject's previous sale was did not include the ADU, which was
constructed in the time since the property was previously purchased. See the attached Supplemental Addendum for more information on the
construction of the ADU and its cost.
See attached Supplemental Addendum.
400,000
400,000 335,349 406,000
See attached Supplemental Addendum.
400,000 02/23/2012
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
1 350,000 350,000
27 145,000 625,000
4227 NE 10th Ave
Portland, OR 97211
N;Res;
Fee Simple
5000 sf
N;Res;
traditional
Q3
106
C3
8 4 2.0
1,737
959sf0sfin
Average
FA/Rad./None
HRV/Insul.
None
Porches/Patio
Fireplaces/Fencing None/Rear fcg.
ADU Rooms & GLA 4/1/1 948 sf
11/30/2010
$325,000
County records
02/22/2012
6448 NE 8th Ave
Portland, OR 97211
1.05 miles N
350,000
226.68MLS#11150869;DOM 259
County/Doc#unvailable
ArmLth
Cash;0
s12/11;c02/12
A;Res; +38,800
Fee Simple
5,480 sf 0
N;Res;
traditional
Q3
109 0
C30
6 3 1.0 +13,000
1,544 +7,720
700sf0sfin +3,900
Average
FA/None 0
none +1,500
None
Porch/Patio +2,000
1FP/Rear fcg. -2,000
4/2/1 1100 sf -11,600
53,320
15.2
23.0 403,320
County records
02/22/2012
2814 NE Schuyler St
Portland, OR 97212
1.60 miles SE
475,000
236.32MLS#11661100;DOM 202
County/Doc#128718
ArmLth
Conv;0
s10/11;c11/11
B;Res; -52,300
Fee Simple
2,785 sf 0
N;Res;
traditional
Q2 0
1 0
C2 -24,200
7 4 2.1 -3,000
2,010 -10,920
0sf +14,400
Average
FA/None 0
HRV/Insul.
1/Attached -4,000
Porches/Patio
2FP/Rear fcg. -5,000
4/1/1 800 sf +4,400
-80,620
17.0
24.9 394,380
County records
02/22/2012
3406 NE 12th Ave
Portland, OR 97212
0.48 miles SE
459,900
339.16MLS#11345733;DOM 128
County/Doc#064053
ArmLth
Conv;5000 -5,000
s06/11;c04/11
B;Res; -50,600
Fee Simple
4,700 sf 0
N;Res;
traditional
Q3
87 0
C2 -23,5000
6 3 2.0 +7,000
1,356 +15,240
520sf0sfin +6,600
Average
FA/Central -2,000
none +1,500
2/Detached -8,000
Porch/Patio +2,000
1FP/Rear fcg. -2,000
4/1/1 420 sf +15,800
-42,960
9.3
30.3 416,940
County records
02/22/2012
RMLS/County records
RMLS/County records
The subject's previous sale was did not include the ADU, which was
constructed in the time since the property was previously purchased. See the attached Supplemental Addendum for more information on the
construction of the ADU and its cost.
See attached Supplemental Addendum.
400,000
400,000 335,349 406,000
See attached Supplemental Addendum.
400,000 02/23/2012
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Uniform Residential Appraisal Report File #
S A L E S
C O M P
A R I S O N
A P P R O A C H
R E C O N C I L I A T I O N
There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ .
There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ .
FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3
Address
Proximity to Subject
Sale Price $ $ $ $
Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.
ConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room Count
Gross Living Area sq.ft. sq.ft. sq.ft. 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 $ $ $
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %
Net Adj. %
Gross Adj. %I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain
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.Data Source(s)
My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale.Data Source(s)
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).ITEM SUBJECT COMPARABLE SALE #1 COMPARABLE SALE #2 COMPARABLE SALE #3
Date of Prior Sale/TransferPrice of Prior Sale/Transfer
Data Source(s)Effective Date of Data Source(s)
Analysis of prior sale or transfer history of the subject property and comparable sales
Summary of Sales Comparison Approach
Indicated Value by Sales Comparison Approach $
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 beencompleted, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to thefollowing required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair:
Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limitingconditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is$ , as of , which is the date of inspection and the effective date of this appraisal.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 2 of 6 Fannie Mae Form 1004 March 2005
Page #2Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
COST APPROACH TO VALUE (not required by Fannie Mae)Provide adequate information for the lender/client to replicate the below cost figures and calculations.
Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEWSource of cost data
Quality rating from cost service Eff ective date of cost dataComments 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 ExternalDepreciation =$( )
Depreciated Cost of Improvements =$"As-is" Value of Site Improvements =$
INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) Years
INCOME APPROACH TO VALUE (not required by Fannie Mae)
Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income ApproachSummary of Income Approach (including support for market rent and GRM)
PROJECT INFORMATION FOR PUDs (if applicable)
Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached AttachedProvide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an a ttached dwelling unit.
Legal Name of ProjectTotal number of phases Total number of units Total number of units sold
Total number of units rented Total number of units for sale Data source(s)Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.
Does the project contain any multi-dwelling units? Yes No Data SourceAre the units, common elements, and recreation facili ties complete? Yes No If No, describe the status of completion.
Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.
Describe common elements and recreational facilities.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 3 of 6 Fannie Mae Form 1004 March 2005
5978A
The appraiser was engaged by the client to perform an appraisal on the subject property to determine its market value, as defined on page 4 of
this report. In following the Uniform Standards of Professional Appraisal Practice, a Scope of Work was then outlined in order to lead to reliable
conclusions for this appraisal assignment. The following steps were taken in arriving at the final estimate of value included in the appraisal report for
the subject property:
1. A preliminary search of all available resources was made to determine market trends, influences, and other significant factors pertinent to the
subject property. The property has been identified previously in this report.
2. A complete visual inspection of the interior and exterior of the subject property was performed (subject site and plans and specifications).
Although due diligence was exercised while at the property, the appraisers are not experts in such matters as soils, structural engineering,
hazardous waste, etc., and no warranty is given to these elements. As needed, inspections by various professionals in those fields may be
recommended with the final estimate of value subject to their findings.
3. Research and collection of data (costs, improved sales, escrow sales, listings, pending sales, and income ((where appropriate)) were performed
as present in the subject's market area and sufficient in quantity to express an opinion of value as defined on page 4 of this report. We examined
data from MLS; DataQuick; city, county, and regional sources; interviews with sellers, buyers, builders, owners of their agents; as appropriate, with
the pertinent data contained in this report. All relevant data used in generating this report is kept in the appraiser's workfile.
4. Comparable sales were viewed from at least a public street
5. The direct sales comparison, cost approach, and income approaches to value were considered as appropriate for this appraisal.
6. The appraiser/s' analysis, opinions, and conclusions were reported in summary form in this report.
All work completed for this assignment is limited by the conditions set forth on pages 4-6
of this report.
Particular discussions of the subject property's characteristics, adjustment techniques employed, and approaches to value employed, are
discussed in their assigned portions of this report.
Land sales in the subject's area over the past 12
months include: 0 N. Blandena St., 5,000 sf, Closed 8/18/2011, $136,500; 4426 NE Mallory Ave., 5,000 sf, Closed 2/28/2011, $112,500.
Marshall & Swift
V.Good 12/2011
135,000
1,737 116.22 201,874
Basement 959 32.68 31,340 App,Por,Pa,Mlt 33,100
36.81 440.00 16,196
282,510
94,161 94,161
188,349
12,000
335,349
The Marshall & Swift Cost Handbook was used as a reference for the
replacement cost new for the subject property. The subject home's
effective age estimate is also based on depreciation and residential life
cycle tables in Marshall & Swift. The subject's land to value ratio is
common for properties in this established area.
40
2,800 145 406,000
See attached Supplemental Addendum.
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
The appraiser was engaged by the client to perform an appraisal on the subject property to determine its market value, as defined on page 4 of
this report. In following the Uniform Standards of Professional Appraisal Practice, a Scope of Work was then outlined in order to lead to reliable
conclusions for this appraisal assignment. The following steps were taken in arriving at the final estimate of value included in the appraisal report for
the subject property:
1. A preliminary search of all available resources was made to determine market trends, influences, and other significant factors pertinent to the
subject property. The property has been identified previously in this report.
2. A complete visual inspection of the interior and exterior of the subject property was performed (subject site and plans and specifications).
Although due diligence was exercised while at the property, the appraisers are not experts in such matters as soils, structural engineering,
hazardous waste, etc., and no warranty is given to these elements. As needed, inspections by various professionals in those fields may be
recommended with the final estimate of value subject to their findings.
3. Research and collection of data (costs, improved sales, escrow sales, listings, pending sales, and income ((where appropriate)) were performed
as present in the subject's market area and sufficient in quantity to express an opinion of value as defined on page 4 of this report. We examined
data from MLS; DataQuick; city, county, and regional sources; interviews with sellers, buyers, builders, owners of their agents; as appropriate, with
the pertinent data contained in this report. All relevant data used in generating this report is kept in the appraiser's workfile.
4. Comparable sales were viewed from at least a public street
5. The direct sales comparison, cost approach, and income approaches to value were considered as appropriate for this appraisal.
6. The appraiser/s' analysis, opinions, and conclusions were reported in summary form in this report.
All work completed for this assignment is limited by the conditions set forth on pages 4-6
of this report.
Particular discussions of the subject property's characteristics, adjustment techniques employed, and approaches to value employed, are
discussed in their assigned portions of this report.
Land sales in the subject's area over the past 12
months include: 0 N. Blandena St., 5,000 sf, Closed 8/18/2011, $136,500; 4426 NE Mallory Ave., 5,000 sf, Closed 2/28/2011, $112,500.
Marshall & Swift
V.Good 12/2011
135,000
1,737 116.22 201,874
Basement 959 32.68 31,340 App,Por,Pa,Mlt 33,100
36.81 440.00 16,196
282,510
94,161 94,161
188,349
12,000
335,349
The Marshall & Swift Cost Handbook was used as a reference for the
replacement cost new for the subject property. The subject home's
effective age estimate is also based on depreciation and residential life
cycle tables in Marshall & Swift. The subject's land to value ratio is
common for properties in this established area.
40
2,800 145 406,000
See attached Supplemental Addendum.
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Uniform Residential Appraisal Report File #
A D D I T I O
N A L C O M M E N T S
C O S T A P P R O A C H
I N C O M E
P U D
I N F O R M A T I O N
COST APPROACH TO VALUE (not required by Fannie Mae)Provide adequate information for the lender/client to replicate the below cost figures and calculations.
Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value)
ESTIMATED REPRODUCTION OR REPLACEMENT COST NEWSource of cost data
Quality rating from cost service Eff ective date of cost dataComments on Cost Approach (gross living area calculations, depreciation, etc.)
OPINION OF SITE VALUE =$DWELLING Sq.Ft. @ $ =$
Sq.Ft. @ $ =$=$
Garage/Carport Sq.Ft. @ $ =$Total Estimate of Cost-New =$
Less Physical Functional ExternalDepreciation =$( )
Depreciated Cost of Improvements =$"As-is" Value of Site Improvements =$
INDICATED VALUE BY COST APPROACH =$Estimated Remaining Economic Life (HUD and VA only) Years
INCOME APPROACH TO VALUE (not required by Fannie Mae)
Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income ApproachSummary of Income Approach (including support for market rent and GRM)
PROJECT INFORMATION FOR PUDs (if applicable)
Is the developer/builder in control of the Homeowners' Association (HOA)? Yes No Unit type(s) Detached AttachedProvide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an a ttached dwelling unit.
Legal Name of ProjectTotal number of phases Total number of units Total number of units sold
Total number of units rented Total number of units for sale Data source(s)Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion.
Does the project contain any multi-dwelling units? Yes No Data SourceAre the units, common elements, and recreation facili ties complete? Yes No If No, describe the status of completion.
Are the common elements leased to or by the Homeowners' Association? Yes No If Yes, describe the rental terms and options.
Describe common elements and recreational facilities.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 3 of 6 Fannie Mae Form 1004 March 2005
Page #3Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of amanufactured home or a unit in a condominium or cooperative project.
This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing education or membership in an appraisal organization, are permitted.
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources,and (5) report his or her analysis, opinions, and conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is thesubject of this appraisal for a mortgage finance transaction.
INTENDED USER: The intended user of this appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and openmarket 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) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are
necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser assumes that the title is good and marketable and will not render any opinions about the title.
2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determinationof its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in anidentified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,unless specific arrangements to do so have been made beforehand, or as otherwise required by law.
5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist.Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered asan environmental assessment of the property.
6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 4 of 6 Fannie Mae Form 1004 March 2005
5978A
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Uniform Residential Appraisal Report File #
This report form is designed to report an appraisal of a one-unit property or a one-unit property with an accessory unit;including a unit in a planned unit development (PUD). This report form is not designed to report an appraisal of amanufactured home or a unit in a condominium or cooperative project.
This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intendeduse, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser mayexpand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisalassignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that donot constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser'scontinuing education or membership in an appraisal organization, are permitted.
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and thereporting requirements of this appraisal report form, including the following definition of market value, statement ofassumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visualinspection of the interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of thecomparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources,and (5) report his or her analysis, opinions, and conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the property that is thesubject of this appraisal for a mortgage finance transaction.
INTENDED USER: The intended user of this appraisal report is the lender/client.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and openmarket 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) bothparties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) areasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in termsof financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property soldunaffected by special or creative financing or sales concessions* granted by anyone associated with the sale.
*Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are
necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs arereadily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financingadjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutionallender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanicaldollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market'sreaction to the financing or concessions based on the appraiser's judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report issubject to the following assumptions and limiting conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. Theappraiser assumes that the title is good and marketable and will not render any opinions about the title.
2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements.The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determinationof its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency(or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in anidentified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question,unless specific arrangements to do so have been made beforehand, or as otherwise required by law.
5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the
presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing the appraisal. Unless otherwise stated in this appraisalreport, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of theproperty (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances,adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no suchconditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any suchconditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist.Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered asan environmental assessment of the property.
6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactorycompletion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property willbe performed in a professional manner.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 4 of 6 Fannie Mae Form 1004 March 2005
Page #4Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the
livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report.
7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.
8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.
9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.
10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property.
11. I have knowledge and experience in appraising this type of property in this market area.
12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listingservices, tax assessment records, public land records and other such data sources for the area in which the property is located.
13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.
14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.
15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.
16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.
17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.
18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ofany party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgage loan application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to makea change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take noresponsibility for it.
20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that
ordered and will receive this appraisal report.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 5 of 6 Fannie Mae Form 1004 March 2005
5978A
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Uniform Residential Appraisal Report File #
APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that:
1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report.
2. I performed a complete visual inspection of the interior and exterior areas of the subject property. I reported the conditionof the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the
livability, soundness, or structural integrity of the property.
3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional AppraisalPractice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were inplace at the time this appraisal report was prepared.
4. I developed my opinion of the market value of the real property that is the subject of this report based on the salescomparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approachfor this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report.
5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subjectproperty for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report.
6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report.
7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property.
8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home thathas been built or will be built on the land.
9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subjectproperty and the comparable sales.
10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property.
11. I have knowledge and experience in appraising this type of property in this market area.
12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listingservices, tax assessment records, public land records and other such data sources for the area in which the property is located.
13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report fromreliable sources that I believe to be true and correct.
14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subjectproperty, and the proximity of the subject property to adverse influences in the development of my opinion of market value. Ihave noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, thepresence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of thesubject property or that I became aware of during the research involved in performing this appraisal. I have considered theseadverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value andmarketability of the subject property.
15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, allstatements and information in this appraisal report are true and correct.
16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, whichare subject only to the assumptions and limiting conditions in this appraisal report.
17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, maritalstatus, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of thepresent owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law.
18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was notconditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) apredetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause ofany party, or the attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pendingmortgage loan application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If Irelied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisalor the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in thisappraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to makea change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take noresponsibility for it.
20. I identified the lender/client in this appraisal report who is the individual, organization, or agent for the organization that
ordered and will receive this appraisal report.
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 5 of 6 Fannie Mae Form 1004 March 2005
Page #5Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department,agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having toobtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisalreport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media).
22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me.
23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof any mortgage finance transaction that involves any one or more of these parties.
24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.
25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.
SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:
1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.
2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions,statements, conclusions, and the appraiser's certification.
3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or theappraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.
4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.
5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER
SignatureNameCompany Name
Company Address
Telephone Number Email Address
Date of Signature and ReportEffective Date of Appraisal
State Certification #or State License #
or Other (describe) State #State
Expiration Date of Certification or License
ADDRESS OF PROPERTY APPRAISED
APPRAISED VALUE OF SUBJECT PROPERTY $
LENDER/CLIENT
NameCompany NameCompany Address
Email Address
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
SignatureNameCompany Name
Company Address
Telephone Number Email Address
Date of SignatureState Certification #
or State License #State
Expiration Date of Certification or License
SUBJECT PROPERTY
Did not inspect subject propertyDid inspect exterior of subject property from street
Date of InspectionDid inspect interior and exterior of subject propertyDate of Inspection
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from streetDate of Inspection
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 6 of 6 Fannie Mae Form 1004 March 2005
Form 1004UAD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Uniform Residential Appraisal Report File #
21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of theborrower; the mortgagee or its successors and assigns; mortgage insurers; government sponsored enterprises; other secondary market participants; data collection or reporting services; professional appraisal organizations; any department,agency, or instrumentality of the United States; and any state, the District of Columbia, or other jurisdictions; without having toobtain the appraiser's or supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisalreport may be disclosed or distributed to any other party (including, but not limited to, the public through advertising, publicrelations, news, sales, or other media).
22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certainlaws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me.
23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgageinsurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as partof any mortgage finance transaction that involves any one or more of these parties.
24. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.
25. Any intentional or negligent misrepresentation(s) contained in this appraisal report may result in civil liability and/or criminal penalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United StatesCode, Section 1001, et seq., or similar state laws.
SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:
1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser'sanalysis, opinions, statements, conclusions, and the appraiser's certification.
2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions,statements, conclusions, and the appraiser's certification.
3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or theappraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law.
4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted andpromulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisalreport was prepared.
5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms aredefined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of thisappraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable andvalid as if a paper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER
SignatureNameCompany Name
Company Address
Telephone Number Email Address
Date of Signature and ReportEffective Date of Appraisal
State Certification #or State License #
or Other (describe) State #State
Expiration Date of Certification or License
ADDRESS OF PROPERTY APPRAISED
APPRAISED VALUE OF SUBJECT PROPERTY $
LENDER/CLIENT
NameCompany NameCompany Address
Email Address
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
SignatureNameCompany Name
Company Address
Telephone Number Email Address
Date of SignatureState Certification #
or State License #State
Expiration Date of Certification or License
SUBJECT PROPERTY
Did not inspect subject propertyDid inspect exterior of subject property from street
Date of InspectionDid inspect interior and exterior of subject propertyDate of Inspection
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from streetDate of Inspection
Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 6 of 6 Fannie Mae Form 1004 March 2005
Page #6Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
ConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room CountGross Living Area sq.ft. sq.ft. sq.ft. sq.ft.
Basement & FinishedRooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total) + - + - + -$ $ $
Adjusted Sale Priceof Comparables $ $ $Net Adj. %Gross Adj. % Net Adj. %Gross Adj. % Net Adj. %Gross Adj. %
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #Date of Prior Sale/Transfer
Price of Prior Sale/TransferData Source(s)
Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales
Analysis/Comments
Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005UAD Version 9/2011
5978A
4227 NE 10th Ave
Portland, OR 97211
N;Res;
Fee Simple
5000 sf
N;Res;
traditional
Q3
106
C3
8 4 2.01,737
959sf0sfin
Average
FA/Rad./None
HRV/Insul.
None
Porches/Patio
Fireplaces/Fencing None/Rear fcg.
ADU Rooms & GLA 4/1/1 948 sf
11/30/2010
$325,000
County records
02/22/2012
4919 NE 11th Ave
Portland, OR 97211
0.30 miles N
340,000
372.81
MLS#11276090;DOM 140
County/Doc#053307
ArmLth
Cash;0
s05/11;c04/11
N;Res;
Fee Simple
4000 sf 0
N;Res;
traditional
Q3
101 0
C3
0
5 2 1.0 +20,000912 +33,000
912sf0sfin 0
Average
FA/None 0
none +1,500
2/Detached -8,000
Porches/Patio
1FP/Rear fcg. -2,000
4/1/1 477 sf +14,100
58,600
17.223.1 398,600
County records
02/22/2012
4307 N Kerby Ave
Portland, OR 97217
0.79 miles W
350,000
199.32
MLS#11150869;DOM 259
County
Listing
Active -7,400
N;Res;
Fee Simple
5000 sf
N;Res;
traditional
Q3
77 0
C3
0
10 4 2.0 01,756 0
0sf +14,400
Average
FA/None 0
none +1,500
None
Porch +2,500
2FP/Rear fcg. -4,000
None Duplex +35,400
42,400
12.118.6 392,400
County records
02/22/2012
3846 N Melrose Dr
Portland, OR 97227
1.44 miles W
399,900
375.85
MLS#11027521;DOM 37
County
Listing
Active -8,400
N;Res;
Fee Simple
3010 sf 0
N;Res;
traditional
Q3
86 0
C3
0
5 2 1.1 +17,0001,064 +26,920
0sf +14,400
Average
FA/None 0
none +1,500
None
Porches/Patio
None/Rear fcg.
4/1/1 1090 sf -4,300
47,120
11.818.1 447,020
County records
02/22/2012
4 5 6
4 5 6
Form 1004UAD.(AC) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
4227 NE 10th Ave
Portland, OR 97211
N;Res;
Fee Simple
5000 sf
N;Res;
traditional
Q3
106
C3
8 4 2.01,737
959sf0sfin
Average
FA/Rad./None
HRV/Insul.
None
Porches/Patio
Fireplaces/Fencing None/Rear fcg.
ADU Rooms & GLA 4/1/1 948 sf
11/30/2010
$325,000
County records
02/22/2012
4919 NE 11th Ave
Portland, OR 97211
0.30 miles N
340,000
372.81
MLS#11276090;DOM 140
County/Doc#053307
ArmLth
Cash;0
s05/11;c04/11
N;Res;
Fee Simple
4000 sf 0
N;Res;
traditional
Q3
101 0
C3
0
5 2 1.0 +20,000912 +33,000
912sf0sfin 0
Average
FA/None 0
none +1,500
2/Detached -8,000
Porches/Patio
1FP/Rear fcg. -2,000
4/1/1 477 sf +14,100
58,600
17.223.1 398,600
County records
02/22/2012
4307 N Kerby Ave
Portland, OR 97217
0.79 miles W
350,000
199.32
MLS#11150869;DOM 259
County
Listing
Active -7,400
N;Res;
Fee Simple
5000 sf
N;Res;
traditional
Q3
77 0
C3
0
10 4 2.0 01,756 0
0sf +14,400
Average
FA/None 0
none +1,500
None
Porch +2,500
2FP/Rear fcg. -4,000
None Duplex +35,400
42,400
12.118.6 392,400
County records
02/22/2012
3846 N Melrose Dr
Portland, OR 97227
1.44 miles W
399,900
375.85
MLS#11027521;DOM 37
County
Listing
Active -8,400
N;Res;
Fee Simple
3010 sf 0
N;Res;
traditional
Q3
86 0
C3
0
5 2 1.1 +17,0001,064 +26,920
0sf +14,400
Average
FA/None 0
none +1,500
None
Porches/Patio
None/Rear fcg.
4/1/1 1090 sf -4,300
47,120
11.818.1 447,020
County records
02/22/2012
4 5 6
4 5 6
Form 1004UAD.(AC) — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
Uniform Residential Appraisal Report File #
S A L E S
C O M P A R I S O N
A P P R O A C H
S A L E
H I S T O R Y
A N A L Y S I S
/ C O M M E N T S
FEATURE SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #
Address
Proximity to SubjectSale Price $ $ $ $
Sale Price/Gross Liv. Area $ sq.ft. $ sq.ft. $ sq.ft. $ sq.ft.Data Source(s)
ConditionAbove Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room CountGross Living Area sq.ft. sq.ft. sq.ft. sq.ft.
Basement & FinishedRooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Net Adjustment (Total) + - + - + -$ $ $
Adjusted Sale Priceof Comparables $ $ $Net Adj. %Gross Adj. % Net Adj. %Gross Adj. % Net Adj. %Gross Adj. %
Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3).
ITEM SUBJECT COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE #Date of Prior Sale/Transfer
Price of Prior Sale/TransferData Source(s)
Effective Date of Data Source(s)Analysis of prior sale or transfer history of the subject property and comparable sales
Analysis/Comments
Freddie Mac Form 70 March 2005 Fannie Mae Form 1004 March 2005UAD Version 9/2011
Page #7Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
Form TADD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
PETERSON
4227 NE 10th Ave
Portland Multnomah OR 97211
Pinnacle Capital
Borrower/Client
Lender
Page #8Main File No. 5978A
• URAR : Neighborhood - Description
The subject is in a suburban neighborhood of Portland, Oregon, approximately 2 miles northeast of the downtown core of themetropolitan region. Improvements in the neighborhood consist primarily of 60-85 year old single family homes of higher thanaverage construction quality organized in a traditional street grid. There is some multi-family and commercial development onthe arterial streets that surround and bisect the neighborhood and there is a restaurant and retail corridor along Martin Luther King Jr. Boulevard to the west. Freeway access is 1 mile southwest at Interstate 5 and schools and parks are within typicalproximity. The subject neighborhood began revitalizing approximately 15 years ago when the appeal of close -in areas withtraditional housing stock began to rise and since then the neighborhood has maintained a higher than average market appeal.
• URAR : Improvements - Additional FeaturesThe subject property consists of two units, one was the original home on the site, and the other is a newly-built AccessoryDwelling Unit (ADU). The main, original home on the site is of traditional two story design, and it features four large bedroomsand large common rooms. It has covered porches off its front and north sides. Its bathrooms and kitchen have been remodeled,and its electrical, plumbing, and HVAC systems have been updated, and it has been insulated and air sealed for higher energyefficiency. Overall, the main home is considered to be of above average original construction quality and to be in above averagecondition.
The ADU, which is the property's second unit, was built in the past year. It consists of a smaller detached home on thenorthwest portion of the subject site. It features radiant floor heating, passive solar design elements, open floorplan on the main
level, and large bedroom with bathroom on the second floor. Its vaulted design makes the main floor dining room and kitchentwo stories high, and there is an additional small room above the laundry and storage area on the second floor. The ADU is builtto exceed Northwest ENERGY STAR for homes standards, making it very energy efficient, and it is judged to be of goodconstruction quality. The ADU is judged to conform well with the main home on the site as well as with other development in thearea.
The improvements, updating, and new construction carried out on the property was done with permits, as listed above. Overall,the condition of the entire subject property is judged to be good.
The City of Portland allows ADUs to be built on most residential sites as a means of increasing density, allowing extendedfamilies to live on one site, and for aging property owners to remain on their property through the flexibility of two units on onesite. ADU zoning rules in the City of Portland allow for both the main home and the ADU to be legally rented whether or not theproperty owner lives on site. Thus, the legal uses of a residential property with an ADU is similar to a duplex zoned area.Listings on the regional MLS also list ADUs as multifamily properties. For all of these reasons, the subject is compared to other properties with ADUs, and the income approach is developed and considered in the final opinion of value for the subjectproperty.
All utilities were turned on and all systems were operational on the effective date of this report.
• URAR : Comparable Rentals - Analysis of Rental DataBecause the subject property consists of two detached homes on one site (both of which are legally rentable), single familyproperties with similar characteristics are considered in the estimate of market rent per month. The table above is taken from aform 1025 rental table:
To supplement this table, a single-family comparable rent schedule is also attached to this form that provides morecomparables of 4 bedroom properties on which the opinion of market rent for the subject property is based. The Single-FamilyComparable Rent Schedule attached to this report, as well as the Comparable Rental Data table above are both used tosupport the opinion of market rent in the Rent Schedule in form 1025. The opinion of market rent for the ADU on the subjectproperty is based on the rental units in the table. However, the units above are on their own sites, and do not share a site likethe subject's second unit. To correct for this, the market rent for the subject's ADU is the opinion of market rent minus the
5/13/2018 Appraisal of Property with ADU - slidepdf.com
Form TADD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
PETERSON
4227 NE 10th Ave
Portland Multnomah OR 97211
Pinnacle Capital
Borrower/Client
Lender
Page #9Main File No. 5978A
contributory value of the land to rent. Throughout the close-in Portland, Oregon area, the average allocation for land to mostsingle-family properties is approximately 30%. Thus, it is believed that the subject's ADU's rent should be discounted by thisamount to account for two homes on one site. A further discussion of this principle can be found in a recent study of ADUvaluation in Portland, Oregon available as an attachment to this file.
• URAR: Sales Comparison ApproachSales Comparison Approach - BasisIn the sales comparison approach to value, upward value adjustments to comparable sale prices are made for elements that areinferior to the subject property, and downward value adjustments are made for comparable items that are superior to the subjectproperty. After adjustments are made, the resulting adjusted values of the comparable sales are reconciled by the appraiser intoa final opinion of value in the sales comparison approach. Several adjustment techniques are used in the sales comparisonapproach, among the most common are paired sales analysis and depreciated cost.
Sales Comparison Approach - TechniquesPaired sales analysis is a technique common to valuation by sales comparison. It is "used to identify and measure adjustmentsto the sale prices or rents of comparable properties; to apply this technique, sales or rental data on nearly identical properties isanalyzed to isolate and estimate a single characteristic’s effect on value or rent." (Appraisal Institute,The Dictionary of Real Estate Appraisal , 5th ed., Chicago, 2010). True paired sales, in which only one distinguishable difference is present betweenthe sales analyzed, often are not readily available. In these cases, advanced or adjusted paired sales techniques are used. Inthese common approaches, extracted adjustment amounts from pairs within larger groups of sales are applied to other properties in the group to account for more than one difference between sales. At times, some adjustments to value for pairs or groups of sales with more than one difference are made by other methods, such as depreciated cost, in order to isolate thecontributory value of the remaining difference between the properties before proceeding with the paired sales analysis.
Market participants relate cost to value, and in the sales comparison approach, the cost to cure a deficiency or the depreciatedcost of an improvement may be used to derive an adjustment to value for that element that is different between the subject andcomparable property.
Sales Comparison Approach - ApplicationCondition for homes in this market is not dependent only on age in most cases but also takes into account the amount andmanner of the maintenance, updating, and renovation carried out on the property over its life. For this reason conditionadjustments are made to comparables that take into account not only the properties' actual age, but also their level of maintenance, updating, and renovation. These condition adjustments are based on paired and adjusted or advanced pairedsales analysis.
Because of the relatively few properties with ADUs in the area (though this number is growing), some comparable sales wereconsidered from competing areas outside the subject's neighborhood. Some of these areas are similar to the subject'sneighborhood, one is inferior, and one is superior. The location adjustments necessary to correct for the locational differencesare based on direct paired sales comparison of similarly improved properties in each area, and adjusted on a percentage basisbased on these paired sales as outlined below.
Bathrooms were adjusted at $6,000 for a full bath and $3,000 for a half bath, based on paired analysis data from local buildersand realtors, and the appraiser's market experience. Bedroom adjustments were made at $7,000 per room, and are based ongrouped sales analysis of similarly improved properties in the subject's neighborhood over the past year. Gross Living Area(GLA) was adjusted at $40 per square foot for finished area above grade, $30 per square foot for finished area below grade,and $15 per square foot for unfinished area below grade, all of which are allocations of a percentage of estimated cost new fromthe Marshall & Swift Residential Cost Handbook, and further informed by the appraiser's market experience.
Sales Comparison Approach - Comparable Selection
A thorough search for comparable sales was made within 1 mile of the subject property over the past 12 months for sales with ADUs that bracket the subject's site size, age, and GLA. Of the resulting comparable sales, two were available in the subject'sneighborhood within the past 6-9 months. Thus, the search was extended to a 2.5 mile radius, and three more sales were foundof properties with ADUs, two of which occurred in the past three months. with the past three months. Four of the best sales aswell as two current listings were considered in the sales comparison analysis.
Because in this type of property, total GLA, room count, and condition are primary valuation factors, the total GLA of theproperty, including the ADU GLA, is reported on the GLA line of the sales comparison grid.
Note on Sales Concessions: listing brokers for all sold comparable properties were emailed twice and asked if any concessionswere involved in the transaction. If no response was obtained or there were no concessions involved "none" is entered in thesales comparison grid for that property. If a broker responded to the request and provided an amount of concessions, theopinion of the market's response to those concessions is entered in the sales comparison grid. In some cases, and especiallywith closing costs and prepaids for mortgage loans which vary based on many factors, concessions may have different appealto the broader market than to the particular buyer that received the concession for that particular transaction.
Comparable 1 is a very recent sale, closing on the effective date of this report, and thus the document number is not yetavailable. It is in an inferior location in an area of properties of lower original construction quality and in generally lower levels of repair than the subject's area. This location adjustment is based on paired sales analysis (See MLS#s11414970/11458310),yielding an 11% location adjustment that is applied to properties with superior or inferior locations compared to the subject.Thought this adjustment is larger than 10% for one line item, the location of these properties is believed to be a significant factor in their value, and the adjustment is believed to be warranted. This property has fewer total bathrooms but very similar total GLAin its two units compared to the subject.
Comparable 2 is newer construction adjusted for condition by 5.1% based on paired sales analysis (See MLS#s11276090/11345733) and applied to properties in superior condition compared to the subject overall. This property has moretotal bathrooms than the subject and slightly more total GLA between its two units.
Comparable 3 is in a superior location of homes of higher construction quality and in generally superior repair. Its main home isin superior condition and its ADU is newer, putting it in superior condition overall. It has less GLA and fewer total bedrooms than
the subject. This comparable has over 25% gross adjustments. This could not be avoided in this case due to the necessarylocation and condition adjustments. Though there are higher adjustments for this property, its overall similarities with the subjectproperty make it a valid comparable sales for use in this analysis.
5/13/2018 Appraisal of Property with ADU - slidepdf.com
Form TADD — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
5978A
PETERSON
4227 NE 10th Ave
Portland Multnomah OR 97211
Pinnacle Capital
Borrower/Client
Lender
Page #10Main File No. 5978A
Comparable 4 is the closest in proximity to the subject, but its main home is smaller with fewer bedrooms, bathrooms, and GLA.
Comparables 5 and 6 are both current listings adjusted for this status by 2.1%, which is the average list to sold price ratio in thearea over the past year. Both have less GLA and fewer bedrooms and bathrooms than the subject.
Summary and Reconciliation of Sales Comparison Approach:Comparable 1 has moderate gross adjustments and is a very recent sale. Comparable 2 has higher adjustments thanComparable 1, but it is also a recent sale. Comparable 3 has adjustments over 25%, and it is a more dated sale. Comparable 4is in very close proximity to the subject, but it is an older sale with higher gross adjustments than Comparables 1 and 2. In thefinal opinion of value through the sales comparison approach, Comparables 1, 2, and 4 were given the most weight, andComparable 3 was given the least weight. Comparables 5 and 6 were not weighted but support the final opinion of valuethrough the sales comparison approach to value.
• URAR : Reconciliation - Reconciliation and Final Value ConclusionThe sales comparison approach is considered in the final opinion of value due to the amount of recent sales of properties with ADUs available and because it reflects current market reactions to properties that compete with the subject. Consideration wasalso given to the income approach because it closely reflects the motivations of investors that consider purchasing propertieslike the subject that have rentable units. Both approaches were weighted in the final opinion of value. Though the cost approachsupports the final opinion of value, it is not considered to be as applicable in this case due to the shortage of bare land salesdata in the area.
The opinion of value for the subject property is above the predominant values in the area, primarily because it includes a mainhome as well as an ADU. It is, however, below the high values in the neighborhood, and it is not considered to be anoverimprovement.
Appraiser Independence:
The appraiser understands Appraiser Independence provisions which are required for FHA financing and have replaced HVCC,as per the Dodd-Frank Act. The appraiser is aware of no acts of coercion, extortion, inducement, bribery or intimidation of,compensation or instruction to, or collusion with a person that performs valuation management functions. The appraiser has notbeen provided by the AMC or loan production staff with an estimated or target value, the loan amount, or loan-to-value ratio for the subject property. There has been no communication with the loan production staff or AMC that violate Appraiser Independence standards. In the event of a purchase transaction, the appraiser has been provided with and reviewed the salesagreement. By accepting & completing this assignment, the appraiser is certifying to the AMC that s/he is competent with the
specific property type and geographic location of the subject property.
No employee, director, officer, or agent of the lender, or any third party acting as a partner on behalf of the lender hasinfluenced or attempted to influence the development, reporting, result, or review of this assignment through coercion, extortion,collusion, compensation, instruction, inducement, intimidation, bribery, or any other manner.
I have not been contacted by anyone other than the appraisal management company, borrower, or designated contact to makean appointment to enter the property. I agree to immediately report an unauthorized contact either personally by phone, or electronically to the appraisal management company.
5/13/2018 Appraisal of Property with ADU - slidepdf.com
This form is intended to provide the appraiser with a familiar format to estimate the market rent of the subject property. Adjustments should be made only for items of significant
difference between the comparables and the subject property.
Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms BathsRoom Count
Gross Living Area Sq. Ft. Sq. Ft. Sq. Ft. Sq. Ft.Other (e.g., basement,
etc.)
Other:
Net Adj. (total) + – $ + – $ + – $
Indicated MonthlyMarket Rent $ $ $
Comments on market data, including the range of rents for single family properties, an estimate of vacancy for single family rental properties, the general trend of rents andvacancy, and support for the above adjustments. (Rent concessions should be adjusted to the market, not to the subject property.)
Final Reconciliation of Market Rent:
I (WE) ESTIMATE THE MONTHLY MARKET RENT OF THE SUBJECT AS OF TO BE $
Appraiser(s) SIGNATURE Review Appraiser SIGNATURE
(If applicable)NAME NAME
Freddie Mac Form 1000 (8/88) [Y2K] Fannie Mae Form 1007 (8/88)
Form RSL — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
4227 NE 10th AvePortland, OR 97211
Month to Month
County/Owner
Viewed2/23/2012
N;Res;
N;Res;
traditional
106
C3
8 4 2.0
1,737
959sf0sfin
220 NE Ivy StPortland, OR 97212
0.71 miles SE
Month to Month
1,800
0
1,800
Rental Data Bureau/Cty. records
Exterior Viewing
none
N;Res;
traditional
108 0
C2
7 3 2 +150
1,580 +100
672sf0sfin
250
2,050
6404 N Commercial AvePortland, OR 97217
1.04 miles N
Month to Month
1,950
0
1,950
Rental Data Bureau/Cty. records
Exterior Viewing
none
N;Res;
traditional
89 0
C2
8 4 2
1,624 +100
600sf0sfin
100
2,050
55 NE Fargo StPortland, OR 97212
0.69 miles SE
Month to Month
2,095
0
2,095
Rental Data Bureau/Cty. records
Exterior Viewing
none
N;Res;
traditional
104 0
C2
7 3 2 +150
1,805
1064sf0sfin -25
125
2,220
Though the subject's GLA above
includes both the main home and the ADU, the rent comparables used here are to establish an opinion of market rent for the subject property
and main home alone, and thus the comparables in the table above are compared to the subject's main home. The comparables represent
the range of competing properties to the subject.
02/23/2012 2,100
Taylor Watkins
Watkins & Associates
20
1 2 3
Form RSL — "WinTOTAL" appraisal software by a la mode, inc. — 1-800-ALAMODE
4227 NE 10th AvePortland, OR 97211
Month to Month
County/Owner
Viewed2/23/2012
N;Res;
N;Res;
traditional
106
C3
8 4 2.0
1,737
959sf0sfin
220 NE Ivy StPortland, OR 97212
0.71 miles SE
Month to Month
1,800
0
1,800
Rental Data Bureau/Cty. records
Exterior Viewing
none
N;Res;
traditional
108 0
C2
7 3 2 +150
1,580 +100
672sf0sfin
250
2,050
6404 N Commercial AvePortland, OR 97217
1.04 miles N
Month to Month
1,950
0
1,950
Rental Data Bureau/Cty. records
Exterior Viewing
none
N;Res;
traditional
89 0
C2
8 4 2
1,624 +100
600sf0sfin
100
2,050
55 NE Fargo StPortland, OR 97212
0.69 miles SE
Month to Month
2,095
0
2,095
Rental Data Bureau/Cty. records
Exterior Viewing
none
N;Res;
traditional
104 0
C2
7 3 2 +150
1,805
1064sf0sfin -25
125
2,220
Though the subject's GLA above
includes both the main home and the ADU, the rent comparables used here are to establish an opinion of market rent for the subject property
and main home alone, and thus the comparables in the table above are compared to the subject's main home. The comparables represent
the range of competing properties to the subject.
02/23/2012 2,100
Taylor Watkins
Watkins & Associates
20
1 2 3
SINGLE FAMILY COMPARABLE RENT SCHEDULE
This form is intended to provide the appraiser with a familiar format to estimate the market rent of the subject property. Adjustments should be made only for items of significant
difference between the comparables and the subject property.
Above Grade Total Bdrms Baths Total Bdrms Baths Total Bdrms Baths Total Bdrms BathsRoom Count
Gross Living Area Sq. Ft. Sq. Ft. Sq. Ft. Sq. Ft.Other (e.g., basement,
etc.)
Other:
Net Adj. (total) + – $ + – $ + – $
Indicated MonthlyMarket Rent $ $ $
Comments on market data, including the range of rents for single family properties, an estimate of vacancy for single family rental properties, the general trend of rents andvacancy, and support for the above adjustments. (Rent concessions should be adjusted to the market, not to the subject property.)
Final Reconciliation of Market Rent:
I (WE) ESTIMATE THE MONTHLY MARKET RENT OF THE SUBJECT AS OF TO BE $
Appraiser(s) SIGNATURE Review Appraiser SIGNATURE
(If applicable)NAME NAME
Freddie Mac Form 1000 (8/88) [Y2K] Fannie Mae Form 1007 (8/88)
Page #22Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
File No.Market Conditions Addendum to the Appraisal Report
M A R K E T R E S E A R C H
& A
N A L Y S I S
C O N D O
/ C O - O P
P R O J E C T S
A P
P R A I S E R
The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject
neighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.Property Address City State ZIP Code
BorrowerInstructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding
housing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fi ll in all the information to the extentit is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an
explanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is avai lable, however, the appraiser must include the data
in the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as anaverage. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of thesubject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.Inventory Analysis Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend
Median Sale & List Price, DOM, Sale/List % Prior 7–12 Months Prior 4–6 Months Current – 3 Months
Total # of Comparable Sales (Settled)
Absorption Rate (Total Sales/Months)Total # of Comparable Active Listings
Months of Housing Supply (Total Listings/Ab.Rate)
Median Comparable Sale PriceMedian Comparable Sales Days on Market
Median Comparable List PriceMedian Comparable Listings Days on Market
Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condofees, options, etc.).
Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).
Cite data sources for above information.
Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as
an analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.
If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:
Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend
Total # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)
Months of Unit Supply (Total Listings/Ab.Rate)Total # of Active Comparable Listings
Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales offoreclosed properties.
Summarize the above trends and address the impact on the subject unit and project.
Signature
Appraiser Name
Company Name
Company Address
State License/Certification # StateEmail Address
Signature
Supervisory Appraiser Name
Company Name
Company Address
State License/Certification # StateEmail Address
Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009
5978A
4227 NE 10th Ave Portland OR 97211
PETERSON
18
3.00
4
1.3
331,500
91
336,500
92
98.51
5
1.67
7
4.2
357,000
55
359,900
133
99.19
4
1.33
1
0.8
336,250
73
350,000
133
96.07
Sales with seller concessions are not predominant though they do occur in some sales. They typically consist of payment or
partial payment of closing costs and pre-paids.
None of the sales in the table above were of REO properties.
RMLS. The comparable listings in the table above represent all of the comparable listings available as of the last day of each time period in the table, not only listings originated in that time period. The properties in the table above represent all duplex
activity in a 2.5 mile radius around the subject property over the past 12 months.
Both sold and listing prices have remained relatively stable in the neighborhood over the past year for properties comparable to the subject.
The number of listings is down in the most recent quarter, and time on market for those properties that have sold has declined. Are all
indicators of relative strength in the duplex market.
Form 1004MC2 — "WinTOTAL" appraisal sof tware by a la mode, inc. — 1-800-ALAMODE
5978A
4227 NE 10th Ave Portland OR 97211
PETERSON
18
3.00
4
1.3
331,500
91
336,500
92
98.51
5
1.67
7
4.2
357,000
55
359,900
133
99.19
4
1.33
1
0.8
336,250
73
350,000
133
96.07
Sales with seller concessions are not predominant though they do occur in some sales. They typically consist of payment or
partial payment of closing costs and pre-paids.
None of the sales in the table above were of REO properties.
RMLS. The comparable listings in the table above represent all of the comparable listings available as of the last day of each time period in the table, not only listings originated in that time period. The properties in the table above represent all duplex
activity in a 2.5 mile radius around the subject property over the past 12 months.
Both sold and listing prices have remained relatively stable in the neighborhood over the past year for properties comparable to the subject.
The number of listings is down in the most recent quarter, and time on market for those properties that have sold has declined. Are all
indicators of relative strength in the duplex market.
Form 1004MC2 — "WinTOTAL" appraisal sof tware by a la mode, inc. — 1-800-ALAMODE
File No.Market Conditions Addendum to the Appraisal Report
M A R K E T R E S E A R C H
& A
N A L Y S I S
C O N D O
/ C O - O P
P R O J E C T S
A P
P R A I S E R
The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject
neighborhood. This is a required addendum for all appraisal reports with an effective date on or after April 1, 2009.Property Address City State ZIP Code
BorrowerInstructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding
housing trends and overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fi ll in all the information to the extentit is available and reliable and must provide analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an
explanation. It is recognized that not all data sources will be able to provide data for the shaded areas below; if it is avai lable, however, the appraiser must include the data
in the analysis. If data sources provide the required information as an average instead of the median, the appraiser should report the available figure and identify it as anaverage. Sales and listings must be properties that compete with the subject property, determined by applying the criteria that would be used by a prospective buyer of thesubject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.Inventory Analysis Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend
Median Sale & List Price, DOM, Sale/List % Prior 7–12 Months Prior 4–6 Months Current – 3 Months
Total # of Comparable Sales (Settled)
Absorption Rate (Total Sales/Months)Total # of Comparable Active Listings
Months of Housing Supply (Total Listings/Ab.Rate)
Median Comparable Sale PriceMedian Comparable Sales Days on Market
Median Comparable List PriceMedian Comparable Listings Days on Market
Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condofees, options, etc.).
Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).
Cite data sources for above information.
Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as
an analysis of pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.
If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:
Subject Project Data Prior 7–12 Months Prior 4–6 Months Current – 3 Months Overall Trend
Total # of Comparable Sales (Settled)Absorption Rate (Total Sales/Months)
Months of Unit Supply (Total Listings/Ab.Rate)Total # of Active Comparable Listings
Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales offoreclosed properties.
Summarize the above trends and address the impact on the subject unit and project.
Signature
Appraiser Name
Company Name
Company Address
State License/Certification # StateEmail Address
Signature
Supervisory Appraiser Name
Company Name
Company Address
State License/Certification # StateEmail Address
Freddie Mac Form 71 March 2009 Page 1 of 1 Fannie Mae Form 1004MC March 2009
Page #23Main File No. 5978A
5/13/2018 Appraisal of Property with ADU - slidepdf.com
