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1025310002 30-Ma),-89 ~'17,000 2.35 1021150 $7r234 $0.17 I ~ L1B1 NOW&'THEN F..STATES <br /> 1025310007 18-Jan-89 $17~000 2.55 111r250 $6~667 $0.15 SFR L3B2 NOW & THEN ESTATES <br /> 1525220022 15-Ma¥-89 $19~500 3.50 152,460 $51571 $0.13 SFR W IpB1 K.A. ADDITION <br /> 1.__525420009 24-Apr-87 $21~360 0.75 32,849 $28~480 $0.65 SFR WD UNPLATEDSEC. 15 <br /> 1 625220006 1 5-Jul-88 $20~393 2.00 87~120 :~10~197 $0.23 SF'R L3B2THE NORTH FORTY <br />i:~"2.~20006 8-Ju1-89 $25,000 1.34 58,190 $18,657 $0.43 SFR W L3B2 FOREST HIDEAWAY <br />AVERAGES ZONE3 $20~042 2.08 90~670 $12~801 $0.29 <br /> <br />The table above indicates an average lot value of approximately $20,000.00 per lot and an <br />average lot size of two acres and an average value per acre of approximately $13,000.00. <br />Since many of the lots in this neighborhood or zone were one acre in size, a melhod had to be <br />used to arrive at a base value for one acre building site of a lot and add for additional acreage <br />beyond that one acre. Since the sample of lot sales in the area was relatively small and <br />comprised of lots of varying size, the land extraction method of land appraisal was employed to <br />render an opinion of value for a one acre building site. This method involved taking improved <br />sales and extracting the values of the improvements from that sale to get an indicated value of <br />the building site. The value arrived at through this process was at $14,500.00 for a one acre <br />building site. This was roughly in line with the value per acre of approximately $13,000.00 <br />from lhe sales used in the table above. Then the value of additional acreage was added in the same <br />manner as used in Zone 1. When this method was compared to actual sales, it was found to be <br />very accurate. <br /> <br />Zones 5 and 6 are described as those properties with larger amounts of acreage than normal <br />with Zone 5 being those properties between five and ten acres in size and Zone 6 being those <br />properties with lots greater than ten acres in size. The following table is a tabulation of the <br />eight sales for Zone 5 and the 13 sales for Zone 6 which took place from August, 1988, to <br />August, 1989. <br /> <br />10 <br /> <br /> <br />