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CORRELATION AND FINAL VALUE CONCLUSION: <br /> <br /> The Direct Sales Comparison Approach resulted in a value range for the subject property on <br /> an "as is" basis effective March 17, 2004, of $6,730 to $9,307 per acre. The value was <br /> judged to be near the high end of the r.ange, and was concluded to be $9,000 per acre times <br /> 98.68 acres or $888,000, rounded. <br /> <br /> The anticipated use or development procedure is considered to be the most valid in this case, <br /> even though many of the calculations are quite subjective. This is because developer's think <br /> along these lines, rather than along the lines of the Direct Sales Comparison Approach even <br /> when good data is available, which in this case good data was not available. <br /> <br /> In conclusion, the "as is" value of the subject property, in fee simple time, effective March <br /> 17, 2004, is concluded to be $950,000. <br /> <br />Charles P. Thompson & Assoc., Inc. <br />C-CityEugMcDougal.404 2 9 <br /> <br /> <br />