File No.
APPRAISAL OF REAL PROPERTY
LOCATED AT: 639 W. Locust St. Paris, MO 65275
FOR: USB Lending Support Services 200 South 6th Street, Minneapolis, MN
55402
BY: Franklin C. Tuley, CREA/MHV 412 McCabe Ave., Palmyra, MO
63461
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639 W. Locust St. AMBER RIECHERS See attached deed copy 15-2.0-10-001-022-015.010 Monroe, county of X X X USB Lending Support Services
Paris same
MO Monroe
2010
65275
1,309.97 9602
29/137
200 South 6th Street
Minneapolis
X
Pd
MN 55402
Owner states not for sale. No signs in yard. X
No contract for sale.
X X
X 100 X X X 55 40 The entire county of Monroe will be the 150 120 neighborhood as subject is in small town of Paris, Monroe County 85 80 Monroe County is an agricultural farming county with Paris, centrally located is the county seat. Monroe City is the largest town with some 2800 people offerin some employment, shopping, banking, K-12 schools, etc. Subject located in Paris, Pop. some 1,600 pe Values holding steady at present. No discounts or points offered to buyers nor is any needed. Local conventional financing available. 115X175 + 115X58 none
115X175 +115X58 irregular no zoning in Monroe County X X
X X
X X X
residential
X
asphalt no Monroe county
not mapped
X X
X
stone&mortor/av frame/wood lap/g 3-1 asph/new yes new/V clad/therm comb. S/S
X
2 X
928 0
X 2 1880
X
story 40
yes
Hrdw/carp/cermi plaster/pa/good wood/paint/gd ceramic/new fiberglas X
X X
N gas
X
X X
X
X
X X
X OP, frt X Bldgs ceiling fans
2 ch st/cc 2+
X X X 5 2.5 2465 New gas furnace with A/C, ceiling fans, new vinyl clad thermo windows on 1st level, det 30X44 garage with storage, fairly new 34X50X16 steel covered bldg Built in 1885 of average quality materials & workmanship. Presently in avg/gd condition for age. No repairs noted. Presently has avg/gd appeal. As stated above a new 34X50X16 bldg has been added.(Valued in appraisal for $15,300) 3rd floor has wood floor, studed & wired for finishing big room with two dorms. 30X44 extra large detached garage with shop or storage area. X No. All in avg/good condition and has been maintained as such 10
X A large single family residence in similar type residential homes with large detached building
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36 3 Paris
6,500 120,000
639 W. Locust St. MO 65275
0
422 Lawn St. 517 Lawn St. 173 Rock Rd Monroe City MO 63456 Monroe City MO 63456 Paris MO 65275 15 Miles N/E 15 Miles N/E 2 blocks south 120,000 132,000 140,000 63.97 91.29 52.87 real estate offices real estate offices Multi-List #10010020 Multi-List #10026386 Multi-List #10022222 conv. fin.
Bldgs
250,000 140,000
conv. fin.
conv. fin.
12/28/10 SD urban urban Fee Simple fee 115X175 +115X 130X115 +5000 residential residential 2 story 1 story average average 1880/Remd1995 1985 -4000 good good
5/28/10 SD urban fee 130X115 residential 1 story average 1988 good
4/19/10 urban fee 200X175 residential 2 story average 1997 good
10 5 2.5 7 3 2 +1500 2465 1876 +6000 Full crawl area +8000 0% Fin. 0 average average N gas FWA/Cen F/A/G thermo wind thermo window 2+C Det. 1 car att. +4000 OP, frt Porch Op, Patio -500
8 4 3 -1500 1446 +10000 full 2,. 50% fin -2000 average F/A/G, AC Thermo window 2 car att. +2000 Op
Bldgs34X50X16 none X 29.17 36.67
+15000 none 35,000 X 18.56 155,000 29.92
+5000
-4000
10 5 2.5 2648 None/crawl 0 average F/A/G, AC Thermo window 2 car att. Op, Patio
+15000 none 24,500 X 13.21 156,500 22.50
-4000
-2000 +8000
+2000 -500 +15000 18,500 158,500
X County Records X county records X county records
No sales recorded within last 36 mo county records 5/16/11
No sales recorded No sales recorded No sales recorded within last 36 mo within last 36 mo within last 36 mo county records county records county records 5/16/11 5/16/11 5/16/11 Per MLS, real estate offices and courthouse records, neither subject nor comparables have transferred ownership within the last 3 years except as noted above.
10-15-25% sale 3 is the least value, in
With subjects extra building its impossible to stay within the guide lines on adjustments. Out of the total 36 sales in MOnroe County last year, only two story and it happened to be in Paris within 2 blocks of subject. It has amount of overall adjustments therefore will carry most weight in this approach to our opinion
158,500 158,500 152,800 N/A There is not enough rentals reported in area to calculate an INCOME approach. We are placing most influence on the SALES approach for subject value in this appraisal. X
158,500
5/16/11
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The intended user of this appraisal report is the Lender/Client. The intended use is to evaluate the property that is the subject of this appraisal for mortgage finance transactions, subject to the Scope of work, Purpose of the appraisal, Reporting requirements of this appraisal report form, and Definition of Market value. No additional intended Users are indentified by the appraiser. This appraisal was completed to the requirments of the
Home Valuation Code of Conduct
We have extended our search to older sales do the scarity of sales. No adjustments were made for age because values in this area have been holding steady over last several years. Cannot meet the order requirments of 1 mile for comparables on urban units. There was only 36 total sales in last 12 months in Monroe County. Using what sales available and adjusting accordingly Our appraisal software will only let us save 9 interior photo's We have more than the 9 so we have saved on the Sale 4,5,6 photo page with explanation as to what they are. The extra building that subject has makes it impossible to stay within the norm of 10-15-25% adjustments. As stated above sales are scarce and using what sales available The 1004MC report is attached but not appliable to this area for forclosures are scarce to non-existing. Subject is in the city of Paris and is a URBAN area, as stated in the attached deed copy.
Land value are arrived at from data collected over the years from real estate sales, MLS's and contracts that are on file in our office. X average
3/1/11 Bsmt Op Marshall-Swift is a nationally recognized supplier to appraisers showing the regional construction cost for our area. TEL - 55;
EA - 40;
REL - 15
2465 928
85.00 21.00
1320
24.00
55 146038
15,000 209,525 19,488 4,831 31,680 265,524 146,038 119,486 18,300 152,786
N/A There are not enough rentals reported to calculate an INCOME approach.
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'' Franklin C. Tuley, CREA/MHV Palmyra Real Estate 412 McCabe Ave. Palmyra MO 63461 573-769-2940 ftuley@centurytel.net May 18, 2011 May 15, 2011 RA-001662
Missouri 6/30/12 639 W. Locust St. Paris, MO 65275 158,500
X May 16, 2011
Loan # 20111091858580 USB Lending Support Services 200 South 6th Street Minneapolis MN 55402
X May 16, 2011
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
File No.
11-3194 11-3194
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
Subject Front
Subject Rear
Subject Street
63461
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
File No.
11-3194 11-3194
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
63461
Det. 30X44 garage
Det. 34X50X16 Workshop
Another rear view from side street
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
File No.
11-3194 11-3194
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
Interior 1
Living Room
Interior 2
Laundry
Interior 3
Kitchen
63461
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
File No.
11-3194 11-3194
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
Interior 4
Dining Room, showing rear entrance
Interior 5
1/2 bath off kitchen
Interior 6
Storage room
63461
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
File No.
11-3194 11-3194
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
Interior 7
Master Bedroom
Interior 8
Master bath
Interior 9
N/W bedroom, up
63461
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
File No.
11-3194 11-3194
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
63461
Sale 4
Bedroom, up
Sale 5
Studed & floored, 3rd floor
Sale 6
Entrance foyer, 1st floor
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AMBER RIECHERS Appraisal #11-3194, date 5/16/11 639 W. Locust St. Paris Monroe MO 65275 USB Lending Support Services, 200 South 6th Street, Minneapolis, MN 55402
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11-3194 11-3194
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
11-3194 11-3194
File No.
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
63461
Comparable 1 422 Lawn St. Monroe City, MO Sale Price $ Date of Sale Age Total Rooms Bedrooms Baths GLA
63456
120,000 12/28/10 1985 7 3 2 1876
SD
Comparable 2 517 Lawn St. Monroe City, MO Sale Price $ Date of Sale Age Total Rooms Bedrooms Baths GLA
63456
132,000 5/28/10 1988 8 4 3 1446
Comparable 3 173 Rock Rd Paris, MO 65275 Sale Price $ Date of Sale Age Total Rooms Bedrooms Baths GLA
140,000 4/19/10 1997 10 5 2.5 2648
SD
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639 W. Locust St. AMBER RIECHERS
Paris
MO
65275
X X X X
X
X X X X X X
SINCE BANK FORCLOSERS, REO'S AND BUILDERS DISCOUNTS ARE NOT A FACTOR IN THIS AREA AND SCARCITY OF SALES AND LISTINGS DUE TO SMALL POPULATION WE WILL NOT BE FILLING OUT THE 1004MC FORM. X Local banks are very diligent, very business minded therefore forclosures not a problem here.
Banks, real estate offices, courthouse records.
Forclosures, buy downs, points needed, increase in closing cost are not normally a problem in this area.
'' Franklin C. Tuley, CREA/MHV Palmyra Real Estate 412 McCabe Ave., Palmyra, MO 63461 RA-001662 ftuley@centurytel.net
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639 W. Locust St. Paris MO 65275
0
Bldgs
1 2 13090 Highway 15 13202 Highway 15 Paris MO 65275 Paris MO 65275 6 miles south 5 miles south 169,000 175,000 94.94 129.44 9/30/10 4/21/11 real estate offices real estate offices Multi-List #10055477 11019840st #
233 urban rural Fee Simple fee 115X175 +115X 5.01 ac residential agricultural 2 story ranch average average 1880/Remd1995 1981 good average
32 rural fee 10 ac agricultural ranch average 2000 average
10 5 2.5 9 3 3 2465 1780 Full full 0% Fin. 50% fin average average N gas FWA/Cen FA G/ AC thermo wind thermo window 2+C Det. none OP, frt Porch porch
6 3 2 1352 none 0 average FA G/ AC thermo window 2 car carport porch
Bldgs34X50X16 30X40
40X60 -0-0-
No sales recorded within last 36 mo county records 5/16/11
169,000
1 NO sales recorded last 36 months county records 5/16/11
-0-0-
175,000
2 No sales recorded last 36 months county records 5/16/11
These active also help confirm our appraised value on the URAR report. No adjustments made for these are listings
Photograph Addendum AMBER RIECHERS 639 W. Locust St. City Paris State MO Lender/Client USB Lending Support Services Appraiser Franklin C. Tuley, CREA/MHV Borrower
File No.
11-3194 11-3194
Appraisal #11-3194, date 5/16/11
Property Address
Monroe 65275 Lender's Address 200 South 6th Street, Minneapolis, MN 55402 Appraiser's Address 412 McCabe Ave., Palmyra, MO County
Zip Code
Listing 1 13090 Highway 15 Paris, MO
Listing 2 13202 Highway 15 Paris, MO
63461