Attachment 10 - appraisal for 185 Anne WayBorrower Name:
Legal Description:
Property Type:
Lender /Client:
Census Tract: 6068.04
PUD
Charities Housing Loan #:
X
The undersigned appraiser has performed a desktop valuation of the subject property. The purpose of this desktop valuation is to determine
the market value of the subject property. The primary method of valuing the subject property is the sales comparison approach . This report
is intended to be used for loan purposes and limited for use under the following circumstances: 1) when there is adequate comparable market
data in the neighborhood to develop a reliable sales comparison analysis for the subject property; 2) when the property rights appraised are fee
simple; and 3) zoning, if classified, is residential. The subject property is assumed to be a legal single family dwelling in compliance with
current zoning. The reliability of this valuation is considered to be impacted to a certain extent by the appraiser's lack of inspection of the subject
property and the comparable sales.
[--)The data selection and analysis were performed manually by the appraiser, as noted below.
SALES COMPARISONANAI VRIQ
The appraiser has researched the sales and listing history of the subject property for the past 3 years:
K)The property has not transferred ownership or been listed for sale during this period.
(—)The subject was ❑Sold ❑Listed for $ on (date)
Comments:
on owner occupancy, and buyers purchase oroperty, in this segment based on market value and not costs
I estimate the market value of the subject property as of January 16 2015 which is the effective date of this
desktop analvsis. to be $ 1.500.000 . ATTACHMENT 10
Subject Property
Comparable 2
Comparable 2
Comparable 3
Address
185 Anne Way
105 Anne Way
149 Forest Hill Dr
276 Belblossom Wy
Los Gatos
Los Gatos
Los Gatos
Los Gatos
Proximity to Sub ect
. '; :.r
0.30 miles SW
0.09 miles SW
0.37 miles SE
Data Source
ndcdata/MLS /client
ndcdata/MLS
ndcdata/MLS
ndcdata/MLS
Sales Price
Date of Sale
Na
1,200,000
1,575 000
1.660.000
n/a
7/18/14
10/28114
10/30/2014
2341
2,073
2,183
2,410
5/ 4
51 3
4/. 3
4/ 3
50
49
pAe5i
9 000 sf
8 050
8 030
10 00
2 Car Gara e
2 Car Gara e
2 Car Gara e
2 Car Gara e
Condition: Good +
Condition: Avgrage
Condition: Very Good +
Condition: Good +
Location:ACCessBHiTnWr
Location: Nbad Access St
Location: Good
Location: Good /Su erior
The appraiser has researched the sales and listing history of the subject property for the past 3 years:
K)The property has not transferred ownership or been listed for sale during this period.
(—)The subject was ❑Sold ❑Listed for $ on (date)
Comments:
on owner occupancy, and buyers purchase oroperty, in this segment based on market value and not costs
I estimate the market value of the subject property as of January 16 2015 which is the effective date of this
desktop analvsis. to be $ 1.500.000 . ATTACHMENT 10
(1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and acting in what they consider their own best
interests; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of
financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or
creative financing or sales concessions granted by anyone associated with the sale.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in this limited residential appraisal and summary
report is subject to the following conditions:
1. This limited residential appraisal and summary report invokes the Departure Provision of the Uniform Standards of Professional Appraisal
Practice Standards Rule 1.4. In this report, any reference to the term "report" means: limited residential appraisal and summary report.
2. The HIGHEST AND BEST USE as improved is assumed to be the present use and is the reasonably probable and legal use that is physically
possible, appropriately supported, financially feasible, and results in the highest value.
3. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser
assumes that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis
of its being under responsible ownership.
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.
5. The appraiser has no knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions ( including the
presence of hazardous wastes, toxic substances, etc. ) that would make the property more or less valuable. The appraiser has assumed that
there are no such conditions and makes no guarantees or warranties, expressed of implied, regarding the condition of the property. The appraiser
will not be responsible for any such conditions 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 report must not be considered as an environmental
assessment of the property. If the subject property was built prior to 1978, the dwelling may contain lead -based paint.
6. Information regarding the subject's physical characteristics was obtained either from information supplied on the appraisal request or from
third party sources that the appraiser considers to be reliable and believes the data to be true and correct. The appraiser does not assume
responsibility for the accuracy of such data that were furnished by other parties.
7. The appraiser will not disclose the contents of this report except as provided for in the Uniform Standards of Professional Appraisal Practice
8. The appraiser must provide his or her written consent before the lender /client specified in this report can distribute this report ( including
conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal organizations
or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage
insurer; consultants; professional appraisal organization; any state or federally approved financial institution; or any department, agency or
instrumentality of the United States or any state or the District of Columbia; except that the lender /client may distribute the property description
section of this report only to data collection or reporting service(s) without having to obtain the appraiser's prior written consent. The appraiser's
written consent and approval must also be obtained before the report can be conveyed by anyone to the public through advertising, public relations,
news, sales or other media.
Differences in the subject and comparables were analyzed to arrive at the value conclusion in this report. Utilizing the Sales Comparison
Approach, I placed most emphasis on the comparable(s) considered to be most similar to the subject.
2. 1 have taken into consideration the factors that I am aware of that have an impact on value in my development of the value conclusion
presented in this report. I have not knowingly withheld any significant information from this report and I believe, to the best of my knowledge,
that all statements and information in this report are true and correct.
3. 1 stated in this report only my own personal, unbiased, and professional analyses, opinions, and conclusions, which are subject only to the
contingent and limiting conditions specified in this report.
4. 1 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. Neither my analysis nor my report were based either partially or completely on the race,
color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the
present owners or occupants of the properties in the vicinity of the subject property.
5. 1 have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation
for performing this report is contingent upon its conclusion.
6. 1 was not required to report a predetermined conclusion that favors the cause of the client or any related party, the attainment of a specific
result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing this report. I did not base
this report on a requested conclusion or the need to approve a specific mortgage loan.
7. 1 performed this report in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the
Appraisal Standards Board of the Appraisal Foundation and that were in place as of the date of this report.
8. Based on prior agreement with the client, an inspection of the property, the Cost Approach and Income Approach were excluded from this
report. I have considered these exclusions and determined that the exclusion of an inspection, the Cost Approach and the Income Approach
would not result in a report that is misleading to the client.
9. Although I have not personally inspected the subject property and the properties utilized as comparables in this report, I certify that I have no
knowledge of any hidden or unapparent conditions of the property or adverse environmental conditions within the immediate vicinity of the
subject property.
10. 1 personally prepared all conclusions and opinions about the real estate that were set forth in this report. If I relied on significant professional
assistance from any individual or individuals in the performance of this report or the preparation of this report, I have named such individual(s) and
disclosed the specific tasks performed by them in the general comment section of this report.
APPRAISER
Signature _
Name Mehir /
Company Name
Company Address
Telephone Number 831 - 659 -4903
Email Address theprecisiongroup(cDearthlink.net
Date of Signature and Report 01/16/2015
State Certification # AR015441
or State License #
or Other (describe) State #
State CA
Expiration Date of Certification or License 6/10/2016
SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature
Name
Company Name
Company Address
Telephone Number
Email Address
Date of Signature
State Certification #
or State License #
State
Expiration Date of Certification or License
ADDRESS OF PROPERTY APPRAISED LENDERICLIENT
185 Anne Way Name
Fn; Gatns. CA 95032 ComoanvName Charities Housina
W
o�
• b' 1
� e
b
°lU
0
s
u
r
x
o
V
,
{6
J
u
V
� aA
a A�31
N
w A
Y
T I
r'
7
O []
u J
t W
V Q
a ,q Y-
z
u w
Y a
° ltl3 @a3H „
a
AVM. =
J
O
0
x
V
N
Q
q
r
x
w
F
J
w
a
��3aa
F
V
P:
r-
N
0
J
0
0
t
u
N
y
0
x 2
0
r.
W �
t�
G
4
3AV ` - H013.1 ip
SN3Nm.__
w
z.
JZ
i
Q
o
!
q
,
Y
m
M 'n
h
4
J
n
i
Y q
N
41
V
P
H
o°
—
9af1Vl
P
y wi
n
N
R
v
Xii
n
N
W
h
F
N
ja
1^
b 1
�
J
_..34'mL_
'N1
�+
Nt �
u K
N{fatl>15
a
W o
SN3Nm.__
w
z.
JZ
i
Q
o
!
q
,
Y
m
h
4
J
n
i
Y q
N
41
V
T,
SN3Nm.__
w
z.
JZ
i
Q
LOCATION MAP
Borrower: Client: Charities Housing
Property Address' 185 Ann. W—
-1- 11— --
Case No'
Ci!y' Los Gatos
Statc CA Zil) 95032
Lender: Charities Housina
F
Y.
lie
>
(Ne
Way
H ?dthor D,
c.
Adeb'ce way
Los Gatos Almaden Rd
L 0.1, Gatos Ain, aden rid Los Gatos
Almaden
1 fe"hic, D,
>
Compmble
IN VuIiY
SWed
a
105 Am fty
SW
U., CAW032
Is
An�awa)
01
Tesua Ca
:IE
IQ F� +111 or
ftos
Dog miles W
kay u:
J' Rd
cla
Blm-Ioon; H;lI Rd
`y-R All
Way
rAv tH
01
xqo
C4�noj. sale 3
270 WA..m V4
0.37 miles SE
ti
"A
fre)9RIm. Pork
tremre Open
Space
-
Map date 92015 Goo,*
This Page
Intentionally
Left Plank