Uniform Residential Appraisal Report File # 9817 The purpose of - PDF document

TerCorp, Inc. Main File No. 9817 Page # 1 of 25 9817 Uniform Residential Appraisal Report File # 9817 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 City State Zip Code 8404 Lakewood Ridge Cv Austin TX 78738 Borrower Owner of Public Record County Owner: Ford Ford, Ian J Travis Legal Description Lot 4 Blk D Belvedere Phs VI Assessor's Parcel # Tax Year R.E. Taxes $ 01159501550000 2020 22,718 Neighborhood Name Map Reference Census Tract West Austin 578-A 0017.68 SUBJECT Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month 0 2,000 Property Rights Appraised Fee Simple Leasehold Other (describe) Assignment Type Purchase Transaction Refinance Transaction Other (describe) Client's Evaluation Lender/Client Address Client: Lee Ann Clark NA 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 property is not currently listed for sale in the Austin MLS nor has it been in the previous year. I did 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 performed. CONTRACT 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? Yes No If Yes, report the total dollar amount and describe the items to be paid. 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 % 80 Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $ (000) (yrs) 2-4 Unit % 3 Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family % 80 0 2 NEIGHBORHOOD Neighborhood Boundaries High Commercial % The subject neighborhood is as Lake Travis. This community is located north 5,000 65 15 Pred. Other % of Hays County, south of Lake Travis, east of Spicewood and west of Bee Cave. 400 15 0 Neighborhood Description The scenic hill country terrain and relatively convenient access to Austin have contributed to growth and development trends in this market area. Belvedere is a gated, established subdivision in the neighborhood. This popular, high end subdivision features very good quality homes on large, well wooded lots with hill country views. Amenities include club house, trails, park and community pool. Market Conditions (including support for the above conclusions) Single family residential homes are typically selling within three months in this neighborhood. No definitive changes in real estate trends are apparent at this point during the pandemic, in time in the relatively strong Austin area market. Local real estate trends may be linked to future national economic trends. Dimensions Area Shape View Slightly Irregular - See Plat 1.60 ac Basically Rectangular B;Woods; Specific Zoning Classification Zoning Description None PUD - Deed Restricted to SFR Use 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 Legal restrictions, physical characteristics and market trends suggest single family residential use is the highest and best use of the property. Utilities Public Other (describe) Public Other (describe) Off-site Improvements - Type Public Private Electricity Water Street Asphalt Paved SITE Gas Sanitary Sewer Alley Propane Septic System None FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date X 48453C0395J 01/22/2020 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 The subject lot is relatively large and backs to a greenbelt area. There are no apparent site conditions or external factors which would adversely affect the property. Private septic systems are typical for this area. Public waste water services are not available in the immediate subject environment. General Description Foundation Exterior Description materials/condition Interior materials/condition Units One One with Accessory Unit Concrete Slab Crawl Space Foundation Walls Concrete/Gd Floors Wd/Tile/Crpt/Gd # of Stories Full Basement Partial Basement Exterior Walls Walls 1 Stone/Stucco/Gd SR/Paint/Stone/Gd Type Det. Att. S-Det./End Unit Basement Area sq.ft. Roof Surface Trim/Finish 0 Metal/Gd Wood/Gd Existing Proposed Under Const. Basement Finish % Gutters & Downspouts Bath Floor 0 None/Appears Adeq Tile/Gd Design (Style) Outside Entry/Exit Sump Pump Window Type Bath Wainscot Contemporary Aluminum/Gd Tile/Gd Year Built Evidence of Infestation Storm Sash/Insulated Car Storage None 2015 NoneNoted None Effective Age (Yrs) Dampness Settlement Screens Driveway # of Cars 4 None 2 Attic None Heating FWA HWBB Radiant Amenities Woodstove(s) # Driveway Surface 0 Pavers Drop Stair Stairs Other Fuel Fireplace(s) # Fence Garage # of Cars Propane 1 Fence 3 Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars Covd Covered 0 Finished Heated Individual Other Pool Other Att. Det. Built-in None ExtLiving IMPROVEMENTS Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe) Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade 11 4 4.1 5,065 Additional features (special energy efficient items, etc.). Energy efficient items are considered to be typical for a very good quality home of this age including programmable thermostat and ceiling fans. Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). C2;No updates in the prior 15 years;No deferred maintenance was observed. The subject has a good layout and an attractive design. No functional obsolescence or external depreciation is applicable. Special features include vaulted ceilings, recessed lighting, exposed beams, french doors, stone accent walls, double island kitchen, stainless appliances and a soaking tub in the master bathroom. The utilities were on, tested and functioning at the time of inspection. Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe Appraisals are no guarantee that the property is free from defects. Buyers and homeowners need to secure their own home inspections through the services of a qualified inspector and satisfy themselves about the condition of the property. Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe Freddie Mac Form 70 March 2005 UAD Version 9/2011 Page 1 of 6 Fannie Mae Form 1004 March 2005 Form 1004UAD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE