Uniform Residential Appraisal Report Sample
Uniform Residential Appraisal Report Sample
Report Type: Form 1004 Appraisal Report Property Type: Single Family Residential Home
Prepared By: Austin Fernald, REALVALS
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APPRAISAL OF REAL PROPERTY
File No.: 1
DATE OF VALUATION:
03/11/2017
LOCATED AT:
Property Address Legal Description
City, CA 11111
FOR:
The Bank Bank Address, City, CA
TABLE OF CONTENTS:
Table of Contents/Cover Page ......................................................................................................................................................................1....................................... URAR ..........................................................................................................................................................................................................2....................................... URAR ..........................................................................................................................................................................................................3....................................... Additional Comparables 4-6 .........................................................................................................................................................................4....................................... URAR ..........................................................................................................................................................................................................5....................................... URAR ..........................................................................................................................................................................................................6....................................... URAR ..........................................................................................................................................................................................................7....................................... URAR ..........................................................................................................................................................................................................8....................................... Building Sketch ...........................................................................................................................................................................................9........................................ Parcel Map ..................................................................................................................................................................................................1..0..................................... Location Map ..............................................................................................................................................................................................1..1..................................... Subject Photos ............................................................................................................................................................................................1..2..................................... Photograph Addendum ................................................................................................................................................................................1..3..................................... Comparable Photos 1-3 ...............................................................................................................................................................................1..4..................................... Comparable Photos 4-6 ...............................................................................................................................................................................1..5..................................... UAD Definitions Addendum ..........................................................................................................................................................................1..6.....................................
REALVALS Form TCG - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
SUBJECT
CONTRACT
NEIGHBORHOOD
REALVALS
Uniform Residential Appraisal Report
File # 1
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 Address
City City
State CA Zip Code 11111
Borrower Borrower's Name
Owner of Public Record Borrower's Name
County County
Legal Description Legal Description
Assessor's Parcel # APN
Tax Year 2017
R.E. Taxes $ 1,000
Neighborhood Name The Neighborhood
Map Reference 11244
Census Tract 1104.02
Occupant Owner
Tenant
Vacant
Special Assessments $ 0
PUD HOA $ 0
per year
per month
Property Rights Appraised
Fee Simple
Leasehold
Other (describe)
Assignment Type
Purchase Transaction
Lender/Client The Bank
Refinance Transaction
Other (describe)
Address Bank Address, City, CA
Is 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?
Report data source(s) used, offering price(s), and date(s).
The subject has not been listed on the MLS in the past 12 months.
Yes No
I did performed.
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 not
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?
If Yes, report the total dollar amount and describe the items to be paid.
Yes
No
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood Characteristics
One-Unit Housing Trends
One-Unit Housing
Present Land Use %
Location Urban
Suburban
Rural
Property Values Increasing
Stable
Declining
PRICE
AGE One-Unit
70 %
Built-Up Over 75% 25-75%
Under 25% Demand/Supply Shortage
In Balance Over Supply $ (000)
(yrs) 2-4 Unit
10 %
Growth
Rapid
Stable
Slow
Marketing Time Under 3 mths 3-6 mths
Over 6 mths 410 Low 57 Multi-Family
10 %
Neighborhood Boundaries Brick Road to the north, Concrete Ave to the east, Asphalt St to the south, Tile 573 High 63 Commercial
5%
Dr to the west.
515 Pred. 61 Other
5%
Neighborhood Description The subject property is located in the city of (Enter City Name Here). The neighborhood consists primarily of a mixture of
50's and 60's average to average+ quality homes, some condos, commercial and multi-family. Good access to schools and support facilities.
Market Conditions (including support for the above conclusions)
Property values are stable in subject market area per 1004MC data. Marketing times for
the immediate neighborhood are typically under 3 months. It is not typical for loan discounts, interest buydowns, or financing concessions to
be prevalent within the market area. Other land use is vacant land.
Dimensions 60x103.65
Area 6219 sf
Shape Rectangular
View N;Res;
Specific Zoning Classification RS-6
Zoning Description Single Family Residential
Zoning Compliance Legal Legal Nonconforming (Grandfathered Use)
No Zoning Illegal (describe)
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)
Off-site Improvements - Type
Public Private
Electricity Gas FEMA Special Flood Hazard Area
Water
Sanitary Sewer
Yes
No FEMA Flood Zone X500
Street Asphalt Alley None FEMA Map # 06059C0128J
FEMA Map Date 12/03/2009
Are the utilities and off-site improvements typical for the market area?
Yes
No If No, describe
Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? No apparent adverse site conditions or external factors noted.
Yes
No If Yes, describe
General Description
Foundation
Exterior Description
materials/condition Interior
materials/condition
Units One One with Accessory Unit
Concrete Slab
Crawl Space
Foundation Walls
Concrete/Avg
Floors
Cpt/Tile/Avg+
# of Stories
1
Full Basement
Partial Basement Exterior Walls
Wood/Stucco/Avg Walls
Drywall/Avg
Type Det. Att. S-Det./End Unit Basement Area
0 sq.ft. Roof Surface
Comp/Avg
Trim/Finish Paint/Avg
Existing Proposed Under Const. Basement Finish
0 % Gutters & Downspouts None
Bath Floor Tile/Avg+
Design (Style)
Traditional
Outside Entry/Exit
Sump Pump Window Type
Vinyl/Avg+
Bath Wainscot Tile/Avg+
Year Built
1956
Evidence of
Infestation
Storm Sash/Insulated None
Car Storage
None
Effective Age (Yrs) 15
Dampness
Settlement
Screens
Yes/Avg
Driveway # of Cars
2
Attic
None
Heating FWA
HWBB
Radiant Amenities
Woodstove(s) # 0 Driveway Surface
Concrete
Drop Stair
Stairs
Other
Fuel Gas
Fireplace(s) # 0 Fence Block
Garage # of Cars
2
Floor
Scuttle
Cooling
Central Air Conditioning
Patio/Deck Encls Porch Conc
Carport # of Cars
0
Finished
Heated
Individual
Other
Pool None
Other None
Att.
Det.
Built-in
Appliances Refrigerator Range/Oven
Dishwasher
Disposal
Microwave
Washer/Dryer
Other (describe)
Finished area above grade contains:
6 Rooms
3 Bedrooms
2.0 Bath(s)
1,192 Square Feet of Gross Living Area Above Grade
Additional features (special energy efficient items, etc.).
Central A/C, newer windows, updated baths, enclosed patio, newer floors.
Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.).
C3;Kitchen-not updated;Bathrooms-updated-one to
five years ago;The subject is an average condition home that has been properly maintained and updated over the years.
SITE
IMPROVEMENTS
Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property?
Yes No If Yes, describe
Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? The subject property is typical for the area and conforms to the neighborhood.
Freddie Mac Form 70 March 2005
UAD Version 9/2011 Page 1 of 6
Yes No If No, describe Fannie Mae Form 1004 March 2005
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Uniform Residential Appraisal Report
File # 1
There are There are
4 comparable properties currently offered for sale in the subject neighborhood ranging in price from $ 485,000 39 comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 410,000
to $ 624,900
.
to $ 573,000
.
Address
FEATURE Address City, CA 11111
SUBJECT
COMPARABLE SALE # 1 Address 1 City, CA 11111
COMPARABLE SALE # 2 Address 2 City, CA 11111
COMPARABLE SALE # 3 Address 3 City, CA 11111
Proximity to Subject
Sale Price
$
Sale Price/Gross Liv. Area
$
Data Source(s)
Verification Source(s)
0.25 miles E
$ sq.ft. $ 423.08 sq.ft.
CRMLS#1;DOM 45 Realist/Doc#1
0.16 miles W
550,000
$
$ 426.42 sq.ft.
CRMLS#2;DOM 20
Realist/Doc#2
0.33 miles E
510,000
$
$ 435.53 sq.ft.
CRMLS#3;DOM 78
Realist/Doc#3
510,000
VALUE ADJUSTMENTS Sales or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple
DESCRIPTION
N;Res; Fee Simple
DESCRIPTION
ArmLth Seller Fin.;0 s01/17;c01/17 N;Res; Fee Simple
+(-) $ Adjustment
DESCRIPTION
ArmLth FHA;0 s08/16;c07/16 N;Res; Fee Simple
+(-) $ Adjustment
DESCRIPTION
ArmLth Conv;1300 s02/17;c01/17 N;Res; Fee Simple
+(-) $ Adjustment -1,300
Site View Design (Style)
6219 sf
6144 sf
N;Res;
N;Res;
DT1;Traditional DT1;Traditional
0 6219 sf N;Res; DT1;Traditional
6500 sf
0
N;Res;
DT1;Traditional
Quality of Construction
Q3
Q2
Actual Age
61
62
Condition
C3
C2
-15,000 Q3 0 62
-15,000 C3
Q3 0 63
C4
0 +15,000
Above Grade
Total Bdrms. Baths Total Bdrms. Baths
Total Bdrms. Baths
Total Bdrms. Baths
Room Count
6 3 2.0 6 3 2.0
6 3 2.0
6 3 2.0
Gross Living Area
1,192 sq.ft.
1,300 sq.ft.
-6,500
1,196 sq.ft.
0
1,171 sq.ft.
0
Basement & Finished
0sf
0sf
0sf
0sf
Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items
Average FAU/Central None
Average FAU/Central None
Average FAU/Central None
Average FAU/None None
+2,500
Garage/Carport Porch/Patio/Deck Pool/Spa
2ga2dw Porch/Patio None
2ga2dw Porch/Patio None
2ga2dw Porch/Patio None
2ga2dw Porch/Patio None
Net Adjustment (Total)
+
-$
-36,500
+
-$
Adjusted Sale Price of Comparables
Net Adj.
6.6 %
Gross Adj. 6.6 % $
Net Adj.
0.0 %
513,500 Gross Adj. 0.0 % $
I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain
0
+
Net Adj. 510,000 Gross Adj.
-$ 3.2 % 3.7 % $
16,200 526,200
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) MLS, Realist, Dataquick
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) MLS, Realist, Dataquick
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/Transfer
Price of Prior Sale/Transfer
Data Source(s)
CRMLS/Realist
CRMLS/Realist
CRMLS/Realist
CRMLS/Realist
Effective Date of Data Source(s)
03/11/2017
03/11/2017
03/11/2017
03/11/2017
Analysis of prior sale or transfer history of the subject property and comparable sales
All prior sales/transfers of subject and comparables are shown above.
SALES COMPARISON APPROACH
Summary of Sales Comparison Approach All comparables are taken from the subject's immediate neighborhood, similar in most attributes to the subject property, and represent the best available comparables at the time of the appraisal. All of the subject's features except age are bracketed by the comparable market data provided. See comments page for additional comments regarding sales comparison approach.
RECONCILIATION
Indicated Value by Sales Comparison Approach $ 520,000 Indicated Value by: Sales Comparison Approach $ 520,000
Cost Approach (if developed) $ 524,840
Income Approach (if developed) $
The Sales Comparison Approach is considered most reflective of buyer/seller expectations within the subject market area, therefore it is given
the most emphasis. The Cost Approach was given minimal emphasis as it does not reflect buyer motivations. The Income Approach was not
utilized because this is not an income producing property.
This appraisal is made
"as is",
subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been
completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: See limiting conditions
(certification).
Based on a complete visual inspection of the interior and exterior areas 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
$ 520,000 , as of
03/11/2017
, 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
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
SALES COMPARISON APPROACH
Address
FEATURE Address City, CA 11111
Proximity to Subject
Sale Price
Sale Price/Gross Liv. Area
Data Source(s)
Verification Source(s)
VALUE ADJUSTMENTS
Sales or Financing
Concessions
Date of Sale/Time
Location
Leasehold/Fee Simple
Site
View
Design (Style)
Quality of Construction
Actual Age
Condition
Above Grade
Room Count
Gross Living Area
Basement & Finished
Rooms Below Grade
Functional Utility
Heating/Cooling
Energy Efficient Items
Garage/Carport
Porch/Patio/Deck
Pool/Spa
Uniform Residential Appraisal Report
File # 1
SUBJECT
COMPARABLE SALE # 4
COMPARABLE SALE # 5
Address 4
Address 5
City, CA 11111
City, CA 11111
0.11 miles NW
0.25 miles NE
$
$
496,000
$
624,900
$
sq.ft. $ 419.27 sq.ft.
$ 482.92 sq.ft.
$
CRMLS#4;DOM 9
CRMLS#5;DOM 53
Realist/Doc#4
Realist
COMPARABLE SALE # 6
$ sq.ft.
DESCRIPTION
N;Res; Fee Simple 6219 sf N;Res; DT1;Traditional Q3 61 C3
DESCRIPTION
ArmLth Conv;0 s09/16;c06/16 A;Comm; Fee Simple 6375 sf N;Res; DT1;Traditional Q3 62 C4
+(-) $ Adjustment DESCRIPTION
Listing Backup;0 c02/17 +15,000 N;Res; Fee Simple 0 8527 sf N;Res; DT1;Traditional Q2 0 62 +15,000 C2
+(-) $ Adjustment
-20,000 -15,000
0 -15,000
DESCRIPTION
+(-) $ Adjustment
Total Bdrms. Baths Total Bdrms. Baths
6 3 2.0 6 3 2.0
1,192 sq.ft.
1,183 sq.ft.
0sf
0sf
Total Bdrms. Baths
6 3 2.0 1,294 sq.ft.
0sf
Total Bdrms. Baths
-6,000
sq.ft.
Average FAU/Central None 2ga2dw Porch/Patio None
Average FAU/Central None 2ga2dw Porch/Patio Pool
Average FAU/Central None 2ga2dw Porch/Patio -10,000 None
Net Adjustment (Total)
+
-$
20,000
+
-$
-56,000
+
-$
Adjusted Sale Price of Comparables
Net Adj.
4.0 %
Gross Adj. 8.1 % $
Net Adj.
9.0 %
516,000 Gross Adj. 9.0 % $
Net Adj.
%
568,900 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 # 4
COMPARABLE SALE # 5
COMPARABLE SALE # 6
Date of Prior Sale/Transfer
Price of Prior Sale/Transfer
Data Source(s)
CRMLS/Realist
CRMLS/Realist
CRMLS/Realist
Effective Date of Data Source(s)
03/11/2017
03/11/2017
03/11/2017
Analysis of prior sale or transfer history of the subject property and comparable sales
All prior sales/transfers of subject and comparables are shown above.
Analysis/Comments
SALE HISTORY
ANALYSIS / COMMENTS
Freddie Mac Form 70 March 2005
UAD Version 9/2011
Fannie Mae Form 1004 March 2005
Form 1004UAD.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
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