HomeMy WebLinkAbout10-30-08 (3)WOOF APPRAISAL GROUP
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APPRAISAL OF
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A SINGLE FAMILY RESIDENTIAL HOME
LOCATED AT:
5215 TERRACE ROAD
MECHANICSBURG, PA 17050-6813
FOR:
ESTATE OF ELEANOR MONACO
5215 TERRACE ROAD
MECHANICSBURG, PA 17050-6813
AS OF:
NOVEMBER 11, 2007
APPRAISED VALUE:
$160, 000
BY:
REYNOLD R. WOOF, JR. IFAS
PA CERTIFIED GENERAL REAL ESTATE APPRAISER
302 SOUTH FRONT STREET, WORMLEYSBURG, PA 17043
WOOF APPRAISAL GROUP
Uniform Residential Appraisal Report File No. PVT8684
The purpose of this summary appraisal report is to provide the lender/client with an accurate. and adwauatwly suonortwd opinion of fhw mwrkwt values ni fhw suhiwrt nrnnwrty
Pro Address 5215 TERRACE ROAD Ci MECHANICSBURG State PA Zip Code 17050-6813
Borrower owner of Public Record ESTATE OF ELEANOR MONACO Count, CUMBERLAND
L al Desai lion RECORD BOOK 277, PAGE 920
Assessor's Parcel # 10-18-1319-200 Tax Year 2007/2008 R.E. Taxes $ 1 268.09
Ne hborhood Name GOOD HOPE TERRACE Ma Reference N/A Census Tract 3240-113-02
Occu nt X Owner Tenant Vacent dal Assessments $ NONE PUD HOA $ N/A rear r month
Ro R' hts ailed X Fee Sim le Leasehold Other describe
nment T Purchase Transaction Refinance Transaction X Other describe MARKET VALUE
LenderlClient ESTATE OF ELEANOR MONACO Address 5215 TERRACE ROAD MECHANICSBURG PA 17050-6813
Is the sub' ct o torten offered for sale or has it been offered for sale in the twelve months for to the effective date of this a aisal7 Yes X No
Report data source(s) used, offering price(s), and date(s).
I did did not anatyze the contract for sale for the subject purchase transactan. Explain the results of the anaysis of the contrail kx sale or why the analysis was not Rerformed.
N/A
Contract Rice $ Date of Contract Is the o seller the owner of ublic 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 bortower? Yes No
If Yes, report the total dollar amount and describe the items to be paid. $
Note: Race and the racial tom ition of the nei hborhood are not a sisal factors.
Neighborhood CharaeterisNcs Ons-Unit Flousinp Trends One-Unk Housing Present Land Use X
Location Urban X Suburban Rural Ro Values X Inaeasin Stable Dadinin PRIt:E AGE One-Unit 100 %
Built-U X Over 75% 25-75% Under 25% DBmand/Su Shorts e X In Balance Over Su I 060 rs 2~ Unit %
~ Growth Ra id X Stable Slow Marketin Time X Under 3 mths 3-6 mths Over 6 mths 150 Low NEW Multi-Famil %
Neighborhood Boundaries THE NEIGHBORHOOD BOUNDARIES CONSIST OF HOMES IN THE 2:40 Hi h 50 Commerdal %
AREA COMMONLY KNOWN AS GOOD HOPE TERRACE IN HAMPDEN TOWNSHIP. 180 Red. 40 other %
Neighborhood Description THE SUBJECT PROPERTY IS LOCATED IN AN ESTABLISHED RESIDE NTIAL NEIGHBORH OOD COMPRISED
PREDOMINANTLY OF SINGLE FAMILY HOUSES. EASY ACCESS TO EMPLOYMENT CENTERS SCHOOLS SHOPPING, AND
TRANSPORTATION.
MarketConditans(induding support forthe above wndusions) AREA REAL ESTATE MARKET IS CONSIDERED TO BE MODERATELY ACTIVE.
LOAN DISCOUNTS INTEREST BUYDOWNS, AND OTHER CONCESSIONS ARE NOT TYPICAL IN THIS
MARKET.CONVENTIONAL FINANCING IS READILY AVAILABLE.
Dimensions NOT PROVIDED Area 0.41 ACRES Shape RECTANGULAR view CREEK
dficZonin Classification RS Zonin Desai lion SUBURBAN RESIDENTIAL
Zonin Com liance X Le al Le al Nonconformin Grandfathered Use No Zonin II al desaibe
Is the highest and best use of the subject property as improved (or as proposed per plans and spedfications) the present use? X Yes No If No, describe.
Utilities Public Other describe Public Other describe OH-site Im ovements-T Public Private
Electrid X water X Street MACADAM X
Gas Sanita Sewer X Alle NONE
FEMA dal Flood Hazard Area X Yes No FEMA Flood Zone AE FEMA Ma # 420360 0010 C FEMA Ma Date 01 /05/1996
Are the utilities and ofr-site im ovements ical for the market area? X Yes No If No, desaibe.
Are there any adverse site conditions or external factors (easements, encroachments, env'ronmental conditions, land uses, etc.)? X Yes No If Yes, desaibe. THE SITE IS
LOCATED ALONG THE CONODOGUINET CREEK. FLOODING OF THE CREEK HAS ENTERED THE LOWER LEVEL OF THIS
PROPERTY SEVERAL TIMES AND THIS TREND SHOULD CONTINUE.
GENERAL DESCRIPTION FOUNDATION EXTERIOR DESCRIPTION materialslcondition INTERIOR matarials/condition
Units X One One with Acces Unit Concrete Slab Crawl S ce Foundation Walls CONC. BLH;/AVE Floors HARDWOOD/AB AV
# of Stories 1 X Full Basement Partial Basement Exterior Walls ALUMINUM/AVE Walls DRYWALUAB.AVE.
T X Det. Att. S-Det.lEnd Unit Basement Area 1176 ft. Roof Surface FIBERGL.SH.IAVE TrimlFinish PINE/AVERAGE
X Existin Ro led Under Const. Basement Finish 50 % Gutters 8 Down uts ALUMINUM/AVE Bath Fbor CARPET/AVE.
De n S ie RANCH X Outside En /Exit sum Pum Window T WD & VINYL DH Bath Wainscot CERAMIC/AVE.
Year Built 1964 Evidence of Infestation Storm Sash/Insulated STORMS&THERMO Car store a None
Etfective a Yrs 15 Dam Hess Settlement Screens YES X Drivewa # of Cars 1
Attic None Heatin FWA X HWBB Radiant Amenities WoodStov s # Drivewa surface MACADAM
Dro Stair Stairs Other Fuel OIL Fre la s # Fence X Gara e # of Cars 1
Fbor X Scuttle Coolin Central Air Conddionin X PatalDedc Porch Car t # of Cars
Finished Heated Individual X other 1 WALL Pool Other Att. Det. X Built-in
liances Refr' orator X Ran a/Oven Dishwasher Dis sal Miaowave Washer er Other desaibe
Finished area above redo contains: 4 Rooms 2 Bedrooms 1 Bath(s) 1,176 uare Feet of Gross Livin Area Above Grade
Additanal features (spedal energy effident items, etc.). FOUR REPLACEMENT THERMOPANE WINDOWS.
Desaibe the condition of the property (induding needed repays, deterioration, renovations, remodeling, etc.). UPDATED ELECTRICAL SERVICE. FULL LENGTH
SCREENED DECK WITH THREE SLIDER ACCESS OVER A BASEMENT PATIO. THE APPRAISED PROPERTY IS IN AVERAGE
CONDITION FOR ITS AGE AND HAS BEEN WELL MAINTAINED. MINOR SIGNS OF PRIOR BASEMENT FLOODING STILL EXIST.
NO FUNCTIONAL INADEQUACIES NOTED. EXTERNAL OBSOLESCENCE DUE TO THE FLOOD ZONE LOCATION. HOWEVER
THIS FACTOR IS OFF-SET BY THE YEAR ROUND CREEK SIDE LOCATION.
Are there any physical defidencies or adverse conditions that affect the livability, soundness, w structural integrity of the property? 1'es X No If Yes, desaibe. ANY
PRIOR STRUCTURAL PROBLEMS CAUSED BY FLOODING APPEAR TO BE CORRECTED.
Does the property generalty conform to the neighborhood (functional utility, style, condition, use, construction, etc.)7 X Yes No If No, desaibe.
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Pape 1 d6 1004 05062808
WOOF APPRAISAL GROUP
Uniform Residential Appraisal Report File No. PVT8684
There are N/A corn rable o roes Curren offered for sale in the sub' ct ne hborhood ran in in ice from $ N/A ro $ N/A
There are 5 corn rable sales in the sub' ct ne' hborhood within the ast twelve months ran in in sale ice from $ 145 000 to $ 235 900
FEATURE SUBJECT COMPARABLE SALE N0.1 COMPARABLE SALE N0. 2 COMPARABLE SALE NO. 3
5215 TERRACE ROAD
Address MECHANICSBURG 5217 TERRACE ROAD
MECHANICSBURG 5248 TERRACE ROAD
MECHANICSBURG 5264 TERRACE ROAD
MECHANICSBURG
Roximi ro Sub' ct 0.02 MILES NNW 0.26 MILES NNW 0.38 MILES N
sale Rice $ $ 179 900 $ 184 500 $ 177,000
Sale Rios/Gross Liv. Area $ 0.00 . tt. $ 133.85 . ft. $ 143.25 . rt. $ 110.07 . ft.
Data Sour s MULTI-LIST SERVICE MULTI-LIST SERVICE MULTI-LIST SERVICE
Verification Sour s COUNTY DATABANK COUNTY DATABANK COUNTY DATABANK
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION -) f u~meal DESCRIPTION - f straent DESCRIPTION .t-) S r
sak: or Finandng
Concessions CONVENTIONAL
16 DOM CONVENTIONAL
2 DOM VA
88 DOM
Date of SalelTime 04/14!2006 03/31 /2006 03/02/2007
Location SUBURBAN SUBURBAN SUBURBAN SUBURBAN
LeaseholdlFee Sim le FEE SIMPLE FEE SIMPLE FEE SIMPLE FEE SIMPLE
site 0.41 ACRES 0.37 ACRES 0.34 ACRES 0.52 ACRES
View CREEK CREEK TYPICAL +4 000 TYPICAL +4 000
De'n k: RANCH RANCH RANCH RANCH
Quali of Construction AVERAGE ABOVE AVE. -4 000 ABOVE AVE. -4 000 AVERAGE
Actual a 44 43 31 33
Conditan AVERAGE AVERAGE ABOVE AVE. -5 000 AVERAGE
Above Grade Trial earns earns Tdai earns. cams Trial earns. earns rdal lams earns
Room Count 4 2 1 5 3 1 5 3 2 -4 000 6 2 1
cfross L' ~ Area 50.00 1,176 . ft. 1344 . ft. -8 400 1 288 . ft. -5.600 1 608 . ft. -21 600
Basement & Finished
Rooms Below Grade EXPOSED, FULL
REC. ROOM EXPOSED, FULL
REC DEN & PR
-3 000 FULL BASEMENT
UNFINISHED +2.,000
+4,000 EXPOSED, FULL
REC DEN BATH
-5 000
Functional Util' AVERAGE AVERAGE AVERAGE AVERAGE
Heatin Cooli HWBB/1 WALL FHA/CA -2 000 HWBB/CA -2 000 FHA/CA -2 000
,e Ener Efficient Items SOME THERMOS NONE +1 000 THERMOPANES -2 000 HEAT PUMP
: Gera e1Car 1 B-IN GARAGE CARPORT -1 500 1 ATT GARAGE -4 000 1 B-IN GARAGE
- Porch/Patio/Dedc PATIO PATIO PATIO PATIO
FIREPLACE NO FIREPLACE 1 FIREPLACE -3 000 1 FIREPLACE -3 000 1 FIREPLACE -3 000
EXTRA'S SCR'D DECK POOL -3 000 NONE +4 000 SCR'D DECK
Net Ad'ustment Total + X - $ 23 900 + X - $ 15 600 + X - $ 27 600
Adjusted Sale Rice
- of Corn rabies Net Adj. -13.3%
Gross Ad' 14.4%
$ 156 000 Net Adj. -8.5%
Gross Ad'. 23.6%
$ 168 900 Net Adj. -15.6%
Gross Ad'. 20.1 %
$ 149 400
I X did did not research the sale or transfer history of the subject properly and comparable sales. If not, explain
M research did X did not reveal an for sales or transfers of the sub' ct o for the flues ears for to the effective date o1'this a sisal.
Data sour s COUNTY DATA BASE.
M research did X did not reveal an for sales or transfers of the wm rable sales for the ear for to the date of sale of the corn rable sale.
Data sour s COUNTY DATA BASE.
Re t the results of the research and ana sis of the for sale or transfer hist of the sub' ct and corn arable sales re additbnal for sales on a e 3 .
ITEM SUBJECT COMPARABLE SALE NO. 1 COMPARABLE SALE N0.2 COMPARABLE SALE N0. 3
Date of Rior Sale(fransfer N/A N/A N/A N!A
Rice of Rior Sale/Transfer
Data Sour s COUNTY DATA BANK COUNTY DATA BANK COUNTY DATA BANK COUNTY DATA BANK
EHectlve Date of Data Sour s NO DATE INDICATED NO DATE INDICATED NO DATE INDICATED NO DATE INDICATED
Analysis of prior sale or transfer history of the subject properly and comparable sales THERE HAS BEEN NO TRANSFERS OF THE SUBJECT IN THE LAST
THREE YEARS.
Summary of Sales Comparison Approach. MARKET DATA OF CLOSED SALES WAS SUFFICIENT TO ARRIVE AT AN OPINION OF VALUE.
CONDITION ADJUSTMENTS BASED ON MULTI-LIST DESCRIPTIONS OF UPGRADES ON COMPARABLE SALES. ALL SALES
WERE CLOSED AND CONSIDERED EQUALLY WHEN ARRIVING AT MARKET VALUE.
Indicated Value b Sales Com rison oath $ 160 000
Indicated Value b Saba Com ison oath S 160 000 Cost oath If level d s 162 500 Income oath it develo d S N/A
ALL THREE APPROACHES TO VALUE WERE CONSIDERED. HOWEVER MARKET AREA LACKS AN ADEQUATE NUMBER OF
RENTAL SALES TO USE THE INCOME APPROACH. MOST WEIGHT WAS PLACED ON THE MARKET DATA APPROACH DUE
• TO THE AGE OF THE SUBJECT.
This appraisal is made X "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,
^ subject to the following repairs or alterations on the basis of a hypothetical conditon that the repairs or ateratons have been completed, or ^ subject to the rolbwing required
e inspection based on the extraordinary assumption that the condition or defirrenq does not requ"re alteration or repair: APPRAISED "AS-IS". PROPERTY INSPECTED
ON DECEMBER 28, 2007 FOR AN ESTATE VALUE AS OF NOVEMBER 11 2007.
"
Based on a complete visual inspection of the interior and exterior arses of the subject property, defined scope of work, statement of assumptions and limiting
conditions, 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 S 160,000
as of 11 /11 /2007 which is the date of ins ion and the effective date of this a sisal.
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Papa 2 d 6 X004_05 as2sos
Woof Appraisal Group
WOOF APPRAISAL GROUP
Uniform Residential Appraisal Report File No PVT8684
STATEMENT OF ADDITIONAL LIMITING CONDITIONS AND ASSUMPTIONS:
THIS APPRAISAL REPORT HAS BEEN PERFORMED FOR THE CLIENT INDICATED IN THE PRECEDING WITH WHOM
PROFESSIONAL STANDARDS REQUIRES ME TO MAINTAIN A STRICT REQUIREMENT OF CONFIDENTIALITY.
THE APPRAISER IS NOT A HOME INSPECTOR THE APPRAISER ONLY PERFORMED A VISUAL INSPECTION OF THE
ACCESSIBLE AREAS AND THE APPRAISAL CANNOT BE RELIED UPON TO DISCLOSE CONDITIONS AND/OR DEFECTS IN THE
PROPERTY.
I, BY REASON OF THIS REPORT AM NOT REQUIRED TO GIVE TESTIMONY IN COURT WITH REFERENCE TO THIS
APPRAISAL. IF ANYONE WISHES MY APPEARANCE IT CAN BE ARRANGED ONLY BY PRIOR ARRANGEMENT BEING MADE
WITH ME. SUCH APPEARANCES SHALL BE MADE AS AN EXPERT WITNESS AND THE FEE FOR SUCH APPEARANCES SHALL
BE AT THE RATE OF $125/HOUR PORTAL TO PORTAL PLUS ANY REASONABLE COST INCURRED BY ME.
PURPOSE:
THE PURPOSE OF THIS APPRAISAL IS TO ESTIMATE THE MARKET VALUE OF THE FEE SIMPLE INTEREST IN THE TITLE OF
THE PROPERTY. THE VALUE IS AS OF THE DATE OF THE APPRAISAL WHICH IS THE DAY 'THE PROPERTY WAS LAST
VIEWED IN ITS ENTIRETY AND PHOTOGRAPHED.
- SIGNATURE:
. THE ELECTRONIC SIGNATURE USED IN THIS REPORT ARE PROTECTED BY THE APPRAISER AND ONLY THE APPRAISER
HAS COMPLETE CONTROL OF THE SIGNATURE.
ADDITIONAL CERTIFICATION:
THE INTENDED USER OF THIS APPRAISAL REPORT IS THE LENDER/CLIENT. THE INTENDED USER IS TO EVALUATE THE
PROPERTY THAT IS THE SUBJECT OF THIS APPRAISAL FOR A MORTGAGE FINANCE TRANSACTION SUBJECT TO THE
STATED SCOPE OF WORK PURPOSE OF THE APPRAISAL REPORTING REQUIREMENTS OF THIS APPRAISAL REPORT
FORM AND DEFINITION OF MARKET VALUE. NO ADDITIONAL INTENDED USERS ARE IDENTIFIED BY THE APPRAISER.
COST APPROACH TO VALUE (not required by Fannie Mae)
Rovide ad uate information for the lenderldient to re licate the bebw cost ures and calculations.
Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value) DUE TO THE 100% BUILT UP NATURE OF THE
NEIGHBORHOOD THE ABSTRACTION METHOD WAS USED TO VALUE THE SITE.
ESTIMATED X REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE ........................................ _ $ 65 000
Source of cost data MARSHALL & SWIFT Dwellin 1 176 . Ft. ;; 84.00............ _ $ 98 784
Ouali ratin from cost service AVERAGE Effective date of cost data 09/2007 BSMT: 1176 SQ. FT. . Ft. :; 21.00............ _ $ 24 696
- Comments on Cost oath rocs livin area calculations, de edatan, etc. PATIO SCREENED DECK 8 820
SEE SKETCH ADDENDUM FOR BUILDING DIMENSIONS. tiara e1Car 1 . Ft. '; 1 000.00............ _ $ 1 000
COST DATA OBTAINED FROM MARSHALL VALUATION Total Estimate of cost-New ..... _ $ 133 300
SERVICE AND VERIFIED WITH LOCAL BUILDERS. Less 50 Ph sicel Functional External
De elation $39 990 = $ 39,990
De eciated Cost of Im ovements ............................... _ $ 93,310
"As-is" Value of Site Im ovements ................................ _ $ 4 200
Estimated Remainin Economic Life HUD and VA on 35 Years INDICATED VALUE BY COST APPROACH ...................... _ $ 162 500
INCOME:APPROACH TO VALUE (not required by Fannie Mae)
~ Estimated Month Market Rent $ N/A X Gross Rent Mulct liar N/A = $ N/A Indicated Value b Income Approach
Summary of Income Approach (inducting support for market rent and GRM)
PROJECT INFORMATION FOR PUDa (if applicable)
Is the deveb Ibuikler in control of the Homeowners' Association HOA ? Yes No Unit s Detached Attached
Rovide the folbwin information for PUDs ONLY ff the deveb (builder is in control of the HOA and the sub' d o is an attached dwellin unit.
L al name of o' d
Total number of ases Total number of units Total number of units sold
•
Total number of units rented Total number of units for sale Data sour s'~
Was the o' ct created b the converson of an existin buikfin s into a PUD7 Yes No If Yes date of conversion.
Does the o' d contain an multi-dwellin units? Yes No Data sour s
Are the units, comnwn elements, and recreation fadlities complete? Yes No ff 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.
Desaibe common elements and recreational fadlities.
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Pape 3 of 6 too4_os osz9os
WOOF APPRAISAL GROUP
Uniform Residential Appraisal Report File No. PvT8684
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 a manufactured 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 intended use, intended user,
definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may expand the scope of work
to include any additional research or analysis necessary based on the complexity of this appraisal assignment. Modifications or
deletions to the certifications are also not permitted. However, additional certifications that do not constitute material alterations
to this appraisal report, such as those required by law or those related to the appraiser's continuing 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 the
reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions
and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the
interior and exterior areas of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable 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 the subject 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 open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is
not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of
title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed
or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for
exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements
comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative
financing or sales concessions* granted by anyone associated with the sale.
*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 are readily
identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be
made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already
involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the
financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or
concessions based on the appraiser's judgment.
STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject 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. The
appraiser 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 determination of 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 an identified 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 this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no
knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (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 such conditions and makes no guarantees or
warranties, express or implied. 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 appraisal report must not be considered as an 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 satisfactory
completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be
performed in a professional manner.
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Page 4 of 6 1004_05 082906
WOOF APPRAISAL GROUP
Uniform Residential Appraisal Report File No. PVT8684
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 e~f 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 condition of
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 Appraisal Practice
that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the
time this appraisal report was prepared.
4. 1 developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison
approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for 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 subject property
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 rnost 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
that has 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 they differences between the subject
property 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 listing
services, 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 from
reliable 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, subject
property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have
noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of
hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property
or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in
my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject
property.
15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all
statements 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, which are
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, <~ge, marital status, 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 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 not conditioned
on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined
specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the
attainment of a specific result or occurrence of a specific subsequent event (such as approval of a pending mortgage loan
application).
19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on
significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the
preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal
report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to
any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility 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.
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Page 5 d 6 1004 OS 082806
WOOF APPRAISAL GROUP
Uniform Residential Appraisal Report File No. PVT8684
21. The lender/client may disclose or distribute this appraisal report to: the borrower; another lender at the request of the borrower;
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 to obtain the appraiser's or
supervisory appraiser's (if applicable) consent. Such consent must be obtained before this appraisal report may be disclosed or
distributed to any other party (including, but not limited to, the public through advertising, public relations, 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 certain laws
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, mortgage insurers,
government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part of 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 are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal
report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid 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 States Code, 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's
analysis, 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 asub-contractor or an employee of the supervisory appraiser (or the
appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisa4 under the applicable state law.
4. This appraisal report complies 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 at the time this appraisal
report was prepared.
5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are
defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal
report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a
paper version of this appraisal report were delivered containing my original hand written signature.
APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED)
Signature ___. / ,c-~-~-~.
Name REY O~OOF, JR. IF S
Company Name WOOF APPRAISAL GROUP
Company Address 302 S. FRONT STREET
WORMLEYSBURG, PA 17043-1338
Telephone Number (717) 975-9411
Email Address REYWOOF@AOL.COM
Date of Signature and Report 01/02/2008
Effective Date of Appraisal 11/11/2007
State Certification # GA-000002-L
or State License # _
or Other (describe) State #
State PA
Expiration Date of Certification or License 06/30/2009
PA CERTIFIED GENERAL REAL ESTATE APPRAISER
ADDRESS OF PROPERTY APPRAISED
5215 TERRACE ROAD
MECHANICSBURG, PA 17050-6813
APPRAISED VALUE OF SUBJECT PROPERTY $160,000
LENDER/CLIENT
Name DARRELL MONACO
Company Name ESTATE OF ELEANOR MONACO
Company Address 5215 TERRACE ROAD
MECHANICSBURG, PA 17050-6813
Email Address
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
SUBJECT PROPERTY
^ Did not inspect subject property
^ Did inspect exterior of subject property from street
Date of Inspection
^ Did inspect interior and exterior of subject property
Date of Inspection
COMPARABLE SALES
^ Did not inspect exterior of comparable sales from street
^ Did inspect exterior of comparable sales from street
Date of Inspection
SUBJECT PROPERTY PHOTO ADDENDUM
Borrower: File No.: PVT8684
Property Address: 5215 TERRACE ROAD Case No.:
City: MECHANICSBURG State: PA Zip: 17050-6813
Lender: ESTATE OF ELEANOR MONACO
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FRONT VIEW OF
SUBJECT PROPERTY
Appraised Date:NOVEMBER 11, 2007
Appraised Value: $ 160,000
REAR VIEW OF
SUBJECT PROPERTY
STREET SCENE
COMPARABLE PROPERTY PHOTO ADDENDUM
Borrower: File No.: PVT8684
Property Address: 5215 TERRACE ROAD Case No.:
City: MECHANICSBURG State: PA Zip: 17050-6813
Lender: ESTATE OF ELEANOR MONACO
COMPARABLE SALE #1
5217 TERRACE ROAD
MECIHANICSBURG
Sale Date: 04/14/2006
Sale Price: $ 179,900
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COMPARABLE SALE #2
5248 TERRACE ROAD
MECHANICSBURG
Sale Date: 03/31/2006
Sale Price: $ 184,500
COMPARABLE SALE #3
5264 TERRACE ROAD
MECIHANICSBURG
Sale Date: 03/02/2007
Sale Price: $ 177,000
Borrower: File No.: PVT8684
Property Address: 5215 TERRACE ROAD Case No.:
City: MECHANICSBURG State: PA Zip: 17050-6813
Lender: ESTATE OF ELEANOR MONACO
VIEV'J OF CREEK FROM REAR YARD
FLOORPLAN
Borrower: Fite No.: PVT8684
Property Address: 5215 TERRACE ROAD Case No.:
City: MECHANICSBURG State: PA Zip: 17050-6813
Lender: ESTATE OF ELEANOR MONACO
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Code AREA CALCULATIONS SUMMARY
Description Size
Totals
GLAl First Floor 1176.00 1176.00
HSMT Basement 1176.00 1176.00
P/P PATIO 294.00
SCREENED DECK 294.00
STOOP 30.00 618.00
TOTAL LIVABLE (rounded) 1176
LIVING AREA BREAKDOWN
Breakdown Subtotals
First Floor
28.0 x 42.0 1176.00
1 Area Total (rourtded) 1176
LOCATION MAP
Borrower: File No.: PVT8684
Property Address: 5215 TERRACE ROAD Case No.:
City: MECHANICSBURG State: PA Zip: 17050-6813
Lender: ESTATE OF ELEANOR MONACO
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5264 TERRACE ROAD
Mechanicsburg, PA 17050-6814
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Comparable Sale 2
5248 TERRACE ROAD
Mechanicsburg, PA 17050-6814 \
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Mechanicsburg, PA 17050-6813
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62007 AliawsN Cwp ®2007 MWIEQ,M~Jorkk Uu,lnc.
WOOF APPRAISAL GROUP
File No. PVT8684
********* INVOICE *********
File Number: PVT8684
DARRELL MONACO
ESTATE OF ELEANOR MONACO
5215 TERRACE ROAD
MECHANICSBURG, PA 17050-6813
Borrower
Invoice # : PVT8684
Order Date : 12/27/2007
5215 TERRACE ROAD
MECHANICSBURG, PA 17050-6813
APPRAISAL $ 300.00
Invoice Total $ 300.00
Deposit ($ 300.00 )
Deposit ($ )
Amount Due $ 0.00
Terms: PAID IN FULL
j Please Make Check Payable To:
i
N/A
Fed. I.D. #:
302 SOUTH FRONT STREET, WORMLEYSBURG, PA 1704.3