HomeMy WebLinkAbout2465 u - - ~
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Mr. Charles Stone
Page 3
February 29, 1980
The appraiser took into consideration the increase. in price of
homes over a period of time. as indircated on an attached sheet.
This showed that in 64 months the increase was .2790 a month. ~ _
The appraiser is aware of the fact that this property was pur-
chased for $22,000.00 in 1975 or approximately 50 months ago.
There would have been an increase on this basis of 13~9o which
would give an indicated value on the increase and adjustment
of time for the whole property csf _$24,970.00. After analyzing
the sales, the appraiser applied $30.00 a sq. ft. which is
higher than the other properties sold for per sq. ft., but as
' previously mentioned, the smaller the house the higher the price
per sq. ft. This would give an indicated value of the house and
the single lot of $23,760.00. Sales of lots in the area ave~
an indicated value of $2,500.00 each. This added to the 23,760.00 _
j would give a value of $26,260.00.
It is the appraiser's opinion that the fair market value of the
subject property as of February 29, 1980 is $26,000.00.
~ cerely,
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J n S. Tierney, Jr., S.R.A., SR/WA, CRA
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