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
Get? ?more? ?appraisal? ?report? ?samples? ?at? ?
File No.: 1
APPRAISAL OF REAL PROPERTY
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 .........................................................................................................................................................................................................................................
10
Location Map .....................................................................................................................................................................................................................................
11
Subject Photos ...................................................................................................................................................................................................................................
12
Photograph Addendum .......................................................................................................................................................................................................................
13
Comparable Photos 1-3 ......................................................................................................................................................................................................................
14
Comparable Photos 4-6 ......................................................................................................................................................................................................................
15
UAD Definitions Addendum .................................................................................................................................................................................................................
16
REALVALS
Form TCG - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
REALVALS
Uniform Residential Appraisal Report
SUBJECT
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
Refinance Transaction
Other (describe)
Lender/Client
Address Bank Address, City, CA
The Bank
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?
Yes
No
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.
CONTRACT
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.
NEIGHBORHOOD
Note: Race and the racial composition of the neighborhood are not appraisal factors.
Neighborhood Characteristics
One-Unit Housing Trends
Yes
No
One-Unit Housing
Present Land Use %
70 %
10 %
410 Low
57
10 %
Brick Road to the north, Concrete Ave to the east, Asphalt St to the south, Tile
573 High
63
5%
Pred.
Dr to the west.
515
61
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.
Location
Urban
Built-Up
Over 75%
Growth
Rapid
Neighborhood Boundaries
Suburban
25-75%
Stable
Rural
Under 25%
Slow
Property Values
Demand/Supply
Marketing Time
Increasing
Shortage
Under 3 mths
Stable
In Balance
3-6 mths
Declining
Over Supply
Over 6 mths
PRICE
$ (000)
AGE
(yrs)
One-Unit
2-4 Unit
Multi-Family
Commercial
Other
Market Conditions (including support for the above conclusions)
SITE
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
Water
Street Asphalt
Gas
Sanitary Sewer
Alley None
FEMA Special Flood Hazard Area
Yes
No FEMA Flood Zone X500
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.)?
Yes
No If Yes, describe
IMPROVEMENTS
No apparent adverse site conditions or external factors noted.
General Description
Foundation
Units
One
One with Accessory Unit
# of Stories
1
Type
Det.
Att.
S-Det./End Unit
Existing
Proposed
Under Const.
Design (Style)
Traditional
Year Built
1956
Effective Age (Yrs) 15
Attic
None
Drop Stair
Stairs
Floor
Scuttle
Finished
Heated
Concrete Slab
Crawl Space
Full Basement
Partial Basement
Basement Area
0 sq.ft.
Basement Finish
%
0
Outside Entry/Exit
Sump Pump
Evidence of
Infestation
Dampness
Settlement
Heating
FWA
HWBB
Radiant
Other
Fuel Gas
Cooling
Central Air Conditioning
Individual
Other
Exterior Description
materials/condition Interior
Foundation Walls
Concrete/Avg
Exterior Walls
Wood/Stucco/Avg
Roof Surface
Comp/Avg
Gutters & Downspouts None
Window Type
Vinyl/Avg+
Storm Sash/Insulated None
Screens
Yes/Avg
Amenities
Woodstove(s) # 0
Fireplace(s) # 0
Fence Block
Patio/Deck Encls
Porch Conc
Pool None
Other None
materials/condition
Floors
Cpt/Tile/Avg+
Walls
Drywall/Avg
Trim/Finish
Paint/Avg
Bath Floor
Tile/Avg+
Bath Wainscot Tile/Avg+
Car Storage
None
Driveway
# of Cars
2
Driveway Surface
Concrete
Garage
# of Cars
2
Carport
# of Cars
0
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.
Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property?
Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)?
Yes
Yes
No If Yes, describe
No If No, describe
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
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Fannie Mae Form 1004 March 2005
Uniform Residential Appraisal Report
File # 1
comparable properties currently offered for sale in the subject neighborhood ranging in price from $ 485,000
to $ 624,900
.
4
comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ 410,000
to $ 573,000
.
39
FEATURE
SUBJECT
COMPARABLE SALE # 1
COMPARABLE SALE # 2
COMPARABLE SALE # 3
Address Address
Address 1
Address 2
Address 3
City, CA 11111
City, CA 11111
City, CA 11111
City, CA 11111
Proximity to Subject
0.25 miles E
0.16 miles W
0.33 miles E
Sale Price
$
$
$
$
550,000
510,000
510,000
Sale Price/Gross Liv. Area
$
sq.ft. $
$
$
423.08 sq.ft.
426.42 sq.ft.
435.53 sq.ft.
Data Source(s)
CRMLS#1;DOM 45
CRMLS#2;DOM 20
CRMLS#3;DOM 78
Verification Source(s)
Realist/Doc#1
Realist/Doc#2
Realist/Doc#3
VALUE ADJUSTMENTS
DESCRIPTION
DESCRIPTION
+(-) $ Adjustment
DESCRIPTION
+(-) $ Adjustment
DESCRIPTION
+(-) $ Adjustment
Sales or Financing
ArmLth
ArmLth
ArmLth
Concessions
Seller Fin.;0
FHA;0
Conv;1300
-1,300
Date of Sale/Time
s01/17;c01/17
s08/16;c07/16
s02/17;c01/17
Location
N;Res;
N;Res;
N;Res;
N;Res;
Leasehold/Fee Simple
Fee Simple
Fee Simple
Fee Simple
Fee Simple
Site
6219 sf
6144 sf
0 6219 sf
6500 sf
0
View
N;Res;
N;Res;
N;Res;
N;Res;
Design (Style)
DT1;Traditional DT1;Traditional
DT1;Traditional
DT1;Traditional
Quality of Construction
Q3
Q2
-15,000 Q3
Q3
Actual Age
61
62
0 62
0 63
0
Condition
C3
C2
-15,000 C3
C4
+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
Average
Average
Average
Average
Heating/Cooling
FAU/Central
FAU/Central
FAU/Central
FAU/None
+2,500
Energy Efficient Items
None
None
None
None
Garage/Carport
2ga2dw
2ga2dw
2ga2dw
2ga2dw
Porch/Patio/Deck
Porch/Patio
Porch/Patio
Porch/Patio
Porch/Patio
Pool/Spa
None
None
None
None
SALES COMPARISON APPROACH
There are
There are
Net Adjustment (Total)
+
- $
+
- $
-36,500
Adjusted Sale Price
Net Adj.
%
Net
Adj.
6.6
0.0 %
of Comparables
Gross Adj.
6.6 % $
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
+
Net Adj.
510,000 Gross Adj.
0
-
$
%
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.
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 $
Cost Approach (if developed) $
Income Approach (if developed) $
520,000
524,840
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
$
, as of
, which is the date of inspection and the effective date of this appraisal.
520,000
03/11/2017
Freddie Mac Form 70 March 2005
UAD Version 9/2011
Page 2 of 6
Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Fannie Mae Form 1004 March 2005
Uniform Residential Appraisal Report
FEATURE
SUBJECT
COMPARABLE SALE # 4
Address 4
City, CA 11111
0.11 miles NW
$
496,000
sq.ft. $
419.27 sq.ft.
SALE HISTORY
SALES COMPARISON APPROACH
Address
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
$
$
CRMLS#4;DOM 9
Realist/Doc#4
DESCRIPTION
DESCRIPTION
+(-) $ Adjustment
ArmLth
Conv;0
s09/16;c06/16
N;Res;
A;Comm;
+15,000
Fee Simple
Fee Simple
6219 sf
6375 sf
0
N;Res;
N;Res;
DT1;Traditional DT1;Traditional
Q3
Q3
61
62
0
C3
C4
+15,000
Total Bdrms. Baths
6
3
2.0
1,192 sq.ft.
Total Bdrms. Baths
6
3
2.0
1,183 sq.ft.
0sf
0sf
Average
FAU/Central
None
2ga2dw
Porch/Patio
None
Average
FAU/Central
None
2ga2dw
Porch/Patio
Pool
File # 1
COMPARABLE SALE # 5
COMPARABLE SALE # 6
Address 5
City, CA 11111
0.25 miles NE
$
$
624,900
$
$
sq.ft.
482.92 sq.ft.
CRMLS#5;DOM 53
Realist
DESCRIPTION
+(-) $ Adjustment
Listing
Backup;0
c02/17
N;Res;
Fee Simple
8527 sf
-20,000
N;Res;
DT1;Traditional
Q2
-15,000
62
0
C2
-15,000
Total Bdrms. Baths
6
3
2.0
1,294 sq.ft.
DESCRIPTION
+(-) $ Adjustment
Total Bdrms. Baths
-6,000
sq.ft.
0sf
Average
FAU/Central
None
2ga2dw
Porch/Patio
-10,000 None
Net Adjustment (Total)
+
- $
+
- $
+
- $
20,000
-56,000
Adjusted Sale Price
Net Adj.
%
Net
Adj.
%
Net
Adj.
%
4.0
9.0
of Comparables
Gross Adj.
% $
8.1 % $
516,000 Gross Adj.
9.0 % $
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
Analysis/Comments
Freddie Mac Form 70 March 2005
UAD Version 9/2011
Form 1004UAD.(AC) - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Fannie Mae Form 1004 March 2005
................
................
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