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<br />Hughes Appraisal Services <br /> <br />Uniform Residential Appraisal Report <br /> <br />IFile No, 07FEB220 I <br /> <br />RAMSEY <br />File # 07FEB22D <br /> <br />The ouroose of this summaI)' aooraisal reoort is to provide the lender/client with an accurate, and adeauately supported, opinion of the market value of the sublect nronerty. <br />Propertv Address 5860 157th Ln NW Cilv Ramsev State MN Zin Code 55303-5943 <br />Borrower The Citv of Ramsev Owner of Public Record Nathan & Anita Lanz Countv Anoka <br />Leoal Descliption Lot 1 Blk 2 River Pines 1 st Addn <br />Assessor's Parcel # 14 32 25 43 0012 Tax Year 2006 <br />Neiohborhood Name Ramsev Map Reference 34 B 1 <br />Occuoant IXI Owner rl Tenant rl Vacant Soecial Assessments $ 36 solid waste <br />.. Prooertv Riohts Aooraised IS<I Fee Simole n Leasehold n Other (describe) <br />Assignment Type 15<1 Purchase Transaction n Refinance Transaction IS<I Other Idescribel To be used as a resource in a purchase transaction orocess. <br />Lender/Client The Citv of Ramsev Address 7550 Sunwood Dr NW Ramsev. MN 55303 <br />Is the subject propertv currentlv oNered for sale or has iI been offered for sale in the twelve months prior to the effective date of this ailoralsal? ~r Yes ., l No <br />Report data source(s) used, oNerino oricelsl. and datelsl. MLS & Listinn Anent. List date B/11/06 $299 900. Current listioo.-$282 900 <br /> <br />R.E. Taxes $ 2350 <br />Census Tract 0502.25 <br />r l PUD HOA $ n/a r I ner year r l ner month <br /> <br />I 0 did 181 did not analyze the contract for sale for the'subject purchase transaction. Explain the resuils of the analysis of the contract for sale or why the analysis was n01 <br />I performed. To be used as a resource in a ourchase transaction nrocess. Purchase Information was not available to the aooraiser at the time of the <br />aODraisal. <br />: Contract Pnce $ mkt value Date of Contract n/a Is the orooerIV seller the owner of oublic record? IS<I Yes llNo Data Sourcels) <br />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? 0 Yes 181 No <br />. ff Yes, report the total dollar amount and descnbe the items to be oaid. <br /> <br />Note: Race and the raCIal composnion of the neighborhood are not aopraisal factors. <br /> <br />Location I Urban \XI Suburban r Rural I Prooertv Values llncreasino~rStable n Declinino PRICE AGE One-Unit 80 % <br />. 8uitt-Up II OVer 75% IS<I 25.75% r Under 25% I Demand/SuDojv l Shortaoe 15<1 In Balance n Over SUDPlv $ 1000\ Ivrsl 2-4 Untt 3 % <br />: Growth LI Rapjd IS<I Slable r l Slow I Marketina limeT Under 3 mths 15<1 3-6 mths n OVer 6 mths 150 Low new Muili-Familv 2 % <br />. Neighborhood Boundaries The neiahbOrhood is defined as the Citv of Ramsev in Anoka Countv. The market' 450 Hioh 60 Commercial 10 % <br />: mixed w/ mid to UDoer level detached sinole familv dwellinns and townhouses. 220 Prell. 10-30 Other 5 % <br />Neighborhood Descnotion Subiect is located in the citv of Ramsev. Homes varY in sMe sizes aoes and values. Schools and shoDDino are in Anoka ISO <br />#11. Police and fire orotection adeauate. There is emDlovment in Ramsev and the Northem Minneaoolis Metro area. Adeouate recreational facilities arE <br />the area, No adverse noise factor noted. Tvnical nature and suburban views. <br />Market Conditions (includino suooort for the above conclusions\ The market has softened in the face of an economic slowdown however financinn is available i <br />acceDtable rates to buvers in the market. Demand and sunnlv tend to be in balance. Marketino time in the neiohborhood is 3-6 months. Pronertv values <br />are offered at beiow list Drices. <br />Dimensions 82x101x201x173 Area .43 acres Shaoe irreaular View wooded wetland <br />Specnic ZOnll1!l Classification R1 Zonlno Descliolion sinnle familv residential <br />Zoning Compliance 15<1 Lenal n Lenal Nonconforming (Grandfathered Use\ r l No Zonlna n IlIeaalldescrlbel <br />is lhe highest and best use of subject Drooertv as imoroved (or as proposed ner olans and soecnications\ the oresent use? IS<I Yes n No n No, desclibe <br /> <br />"'~'.) <br />I <br />j <br />, <br /> <br />UtUilies Public Other (descrile) Public Other (desClile) v Off'she Imorovements - Tvpe <br />Electricity IX1 rl150 amD Water IX1 rl Street bituminous <br />Gas 181 0 NG Sanitary Sewer 181 n A1iev none <br />FEMA Special Flood Hazard Area n Yes IX1 No FEMA Flood Zone C FEMA Mao # 270681001 OB <br />Are the utilities and oN-site improvements typical for the market area? IS<I Yes n No n No, desclibe <br />Are there any adverse sile condilions or eldemalfactors (easements, encroachments, environmental conditions, land uses, etc,)? IS<I Yes rl No If Yes, describe <br />The subiect is located adiacent to a lift slation easement. The subiect does nol annear to be located in a FEMA desionated flood zone. <br /> <br />Unils 00 One rl One with Accessorv Unilln Concrete Slab rl Crawl Soace Foundation Walls concrete <br /># of Stones one IIS<I Full Basement n Partial Basement Exterior Walls vinvl <br />Tvpe 15<1 Oet rl At!. n 8-0efJEnd Unil Basement Area 1 321 so.fl. Roof Surface aSDh shiiUiies <br />00 Existino r l' Prooosed r l Under Const Basement finish 90% % Gutiers & DownsDouts none <br />Desion IStvIeI Rambler IIS<I Outside Entrv/Exit rl Sumo Pumo Window Tvoe vinlll clad <br />Year Bulfi 2001 Evidence of n infestation none noted Storm SasMnsulated thermal <br />Etlective Age (Vrsl 6 rs. ] Dampness 0 Settlement Screens yes <br />Allic None Heatioo IX PNA II HWBB II Radiant Amenities Woodstovels\ # <br />] Drop Stair Stairs l Other IFuel NG l Fireolacels\ # !)( Fence <br />] Floor ISi ScutUe CODlloo IS<I Central Air Condltionino IIS<I PaliQiDeck Porch <br />] Finished Healed llndlvidual In Other l Pool 15( Other snrkl see <br />Appliances ~ Reflioerator 181 RaooelOVen 181 Dishwasher 181 Dlsoosal 181 Microwave 181 WasherlDrver 0 Other/describe) <br />Finished area above orade contains: 6 Rooms 3 Bedrooms 1 Bathls) 1 328 Souare Feet of Gross Livino Area Above Grade <br />. Additional features (soecial enerov efficient items efc,). The electrical is a 150 amn service. The mechanical svstem features central AC. Ceilino fans have been <br />added to enhance controled air circulation. Olherfeatures: sorinkler securitv. <br />Desclibe the condition of the oraoerIV (includino needed reoalrs detelioration, renovations remodellno, etc.\. The subiect is a averaoe nuaiitV rambler in-aood <br />condition. The floor nlan anoears to be functional and marketable. The sublect is comDatible with reoard to stVle desion and marketabililv. The lower <br />level has been finished bv the homeowner. It is the ann raisers oninion that the basement finish is averaoe inouarnv. <br /> <br />, <br />I <br />I <br />..:.,;1 <br /> <br />'1 <br />,1 <br />j <br />.J <br /> <br />'-1 <br /> <br />~-..J <br /> <br />Are there any Dhvsical deficiencies or adverse conditions that aNect the livabilitv, soundness, or structural inteoritv 01 the orooerIV? <br /> <br />Public Private <br />~ 1'1 <br />n 1"'1 <br />FEMA Mao Date 11/1/1979 <br /> <br />Floors cDt/ceramic/od <br />Walls dwall/rid <br />TlinVRnish oak clear fin/Dd <br />Bath Floor ceramic/od <br />Bath Wainscot surround/od <br />Car Storaoe r l None <br />IS(I Dlivewav # of Cars two + <br />Dlivewav Surface bituminous <br />IS<I Garaoe # ot Cars two <br />l Camort # of Cars <br />IS<I Alt. rl Det. r l Bultt-in <br /> <br />n Yes IS<I No If Yes, descnbe <br /> <br />1 <br />~~.d <br /> <br />Does the propertv Qenerallv conform to the neiohborhood Nunctional utililv, sMe, condilion, use, construction, etc.l? <br /> <br />IS<I Yes n No n No, describe <br /> <br />Freddie Mac Form 70 March 2005 <br /> <br />Page 1 of 6 <br /> <br />Form 1004 - 'WinTOTAL' appraisal software by a Ia mode, inc. -1-BOo-ALAMOOE <br /> <br />"'1 <br />1 <br />J <br /> <br />Fannie Mae Form 1004 March 2005 <br />