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development, it is our opinion that a prudent
purchaser would pay substantially less in today's
market.
Sale Nos. 1, 2, 4, 5, and 6 were considered
superior to the subject for reasons previously
mentioned (zoning and/or location). Sale No. 3
is located in close proximity to the subject and
is considered a more reliable indicator of value.
Listing 1 is a property listing which would
indicate the upper value limit for the subject.
Based on the preceding, it is our opinion that
the estimated market value of the property would
be $13,000 per acre based on the gross acreage.
The [sic] equates to $19,520/acre for the usable
20 acre size. Therefore:
$13,000/acre X 30.03 acres = $390,390
ROUNDED TO = $390,500
The second step in the appraisal was to value the
part of the property taken by the County, consisting of a
4.83-acre strip which the Fishback appraisal described "as
part of the upland area of the parent tract". The Fishback
appraisal describes the value of the part of the property
taken as follows:
The value of the upland area of the parent tract
[i.e., usable land] was estimated at $19,500 per
acre (rounded). The same sales that were used in
valuing the entire parcel in the before situation
have been utilized in valuing the subject taking.
Sales of lands similar to the strip taking [sic]
are scarce in the market place. Therefore, we
have relied on the documented sales which were
used to provide an indication of value for the
parent tract. It is our opinion that the exist-
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