Affidavit of Appraiser
Other File No. NNHCV146044497S1 Pane #11
Affidavit of Appraiser Borrower/Client Federal National Mtg Assc. v Petro, et al Property Address 77 E Main St City
Branford
Lender
SUSAN L. JACOBS, LLC
State CT
County NEW HAVEN
AiiA
llHGfi1
Zip Code 06405
fl0lhse ff31
til31LE APPRAISAL SERVICES 10 80,, 1-10611
East Haven, Cl 013312 (203) 400.0353
AtftdavIt of Appeatsir SUSAN L JACOBS, LIC AT tORNEY AT LAW 129 WHITNEY AVENUE NEW HAVEN. or oeyio
R
Proosty Borrower. File No.:
77 C May Si Branford. CT 85105 Federal National MIT; MOO, v PolIo. 0101 NNHCV1460444075
Otrtose,t' at 'flue' S 300,008 07/0812014 Effective Date,
Louis J. Buccini d/bta Style Appraisal Services 30 Main SL East Haven, CL, being first duly sworn, depose and $1010 05 follows: 1. That I am over age of eighteen(t e) and that I understand and believe in the obligation of an oath. 2. That I am a stale certified teat estate appraiser, 3. That I appraised the property referenced above. 4, Based on Assessment Records, Multiple Listing Service and an Exterior Inspection from the street. It is my opinion the Fair Market Value as of 0710812014 is $350000 of which S75,000 is attributable to the value of the site and $225,000 attributable to the value of the improvements thereon. S. My rsrnaested fee, for this affidavit and appraisal is 5300
Sincerely,
4L LOUIS BUCCINI license or C,otieutika, 0, CTRCR.0000532 Eapire:04l351ZO*8 2tar,r: CT stylesupra5althsocfIueal.flOt
Loots Dentint, PersellallS ,i1,poare1tsth0 cobocibed the foregoing affidavit or and sw t heroro toe thin iv
ooethsnEU4J
Form MAP.Genetic - "WInTOTAL' appraisal software by ala mode, inc.
- 1-800-ALAMODE
lOther File No. NNHCV146044497S1 Fare #2]
APPRAISAL OF REAL PROPERTY
LOCATED AT: 77 E Main St Branford, CT 06405
FOR: SUSAN L. JACOBS, LLC 129 WHITNEY AVENUE NEW HAVEN, CT 06510
AS OF: 07/08/2014
BY: LOUIS BUCCINI
Form GAl - "WinTOTAL' appraisal software by a la mode, inc. - 1-800-ALAMODE
Other File No. NNHCV1 46044497S1 Pace #31
Style Appraisal Services
Limited Appraisal Analysis - Summary Appraisal Report NNHCV146044497S File No. S1411119
BORROWER/SUBJECT PROPERTY INFORMATION Map Reference 35300 Census Tract 1841.00 Borrower Federal National Mtg Assc. v Petro, et al PUD Check one: X SF [..T Condo Li 2-4 Units Property Address 77 E Main St State CT Zip Code 06405 County NEW HAVEN City Branford Mos. Owners Est. of Value $ N/A Term Loan Amount Requested $ N/A N/A Phone No. Res. N/A Central Air Family room or den Gross Living Area Pvp1 slin nr No. of Baths No. of Rooms No. of Bedrooms type no.) No Yes No 2,023 Sq. Ft. 2 CAR DECK 2 4 7 Li Yes
U
U
M
FIELD REPORT NEIGHBORHOOD Fair Poor Good Avg. NEIGHBORHOOD RATING Suburban Location • Urban Li Rural Property Compatibility Over 75% 25% to 75% Bulb Up • Under 25% General Appearance of Properties Slow @ Steady Growth Rate Rapid • Fully Dev. • Declining Appeal to Market Increasing 04 Stable Property Values In Balance over Supply Demand/Supply Li Shortage 4-6 Mos. Marketing Time • Under 3 Mos. Li Over 6 Mos. 5% Industrial 10% Vacant % 10% Commercial 10% Apts. 10% Condo Present Land Use 40% 1 Family 15% 2-4 Family To El— Taking Place From it Likely • Likely Change in Present Land Use 3% Vacant INFORMATION EXTRACTED FROM MULTIPLE Tenant Predominant Occupancy 01 Owner Similar Housing Price Range $130,000 Predominant Value $ 300,000 LISTING SERVICE, PUBLIC RECORDS AND to $ 785,000 46 yrs. GPS MAPPING. Similar Housing Ago 1 yrs. to 162 yrs. Predominant Age Note: Race and the racial composition of the neighborhood are not considered to be appraisal factors. Comments including those factors affecting marketability (e.g. public parks, schools, view, noise) THE AREA S COMPRISED OF RESIDENTIAL DEVELOPMENTS OF VARIOUS AGES AND STYLES. THE SUBJECT PROPERTY WAS DEVELOPED IN THE 000o/S. STYLES IN THIS SUBDIVISION RANGE FROM CAPES TO CONTEMPORARIES WITH NO PREDOMINANT STYLE. S/F PRICING AND CHARACTERISTICS PERTAIN TO WHAT TYPE PROPERTY IS BEING APPRAISED. SUBJECT PROPERTY Fair Poor PROPERTY RATING Good Avg Na. of Stories Approximate Year Built No. at Units 1.75 1 1940 Condition of Exterior Type (detached, duplex, semi-detached, etc.) detached Compatibility to Neighborhood Design (rambler, split, etc.) CAPE Appeal and Marketability • Roof Material ASPH COMP Li Exterior Walls Material CLAPBOARD No Li Yes Is the property located in a FEMA Special Flood Hazard Area? Special Energy Efficient Items NONE NOTED
03
01
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Comments (favorable or unfavorable including any deferred maintenance) ANY DEFERRED MAINTENANCE.
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FROM AN EXTERIOR INSPECTION THERE WERE NO OBVIOUS SIGNS OF
SALES COMPARISON ANALYSIS COMPARABLE NO. 3 COMPARABLE NO. 2 COMPARABLE NO. 1 SUBJECT ITEM I 74 S MONTOWESE ST 7 FEATHERBED LN 1 WILDWOOD DR Address 77 E Main St Branford, CT 06405 Branford, CT 06405 Branford, CT 06405 Branford, CT 06405 1.17 miles S 1.66 miles NE 0.68 miles SE Proximity to Subject 264 155 Days on Market 15 N/A 365,000 Is 260,000 342,000 Is Sales Price N/A $ Is $ 193.02 /Sq. Ft.I 110.17 /Sq. Ft.! /Sq. Ft. $ $ Sales Pnce/Sq. Ft. 158.63 /Sq. FI.I $ CTMLS/PUB RECORDS CTMLS/PUB RECORDS DataJVerif. Source(s) INSP/PUBLIC RECO CTMLS/PUB RECORDS DESCRIPTION Adjust. DESCRIPTION +(—)$ Adjust DESCRIPTION +1—IS Adjust. VALUE ADJUSTMENTS DESCRIPTION 6/27/14 4/28/14 7/18/13 Date of Sale/Time N/A AVERAGE/BUSY AVERAGE/SUP -10,260 AVERAGE/BUSY Location AVERAGE/BUSY -5,400.40 ACRES 1.42 ACRES Site Size .29 ACRES .34 ACRES AVERAGE : AVERAGE Site Mew AVERAGE AVERAGE 82 YEARS 52 YEARS 59 YEARS Age 74 YEARS -36,500 CAPE/GOOD COLONIAL/AVG COLONIAUAVG Condition CAPE/AVG Total :Bdrms Baths Total Bdrms Baths Total :Bdrms: Baths Total :Bdrms Baths Above Grade 2 -2,500 8 3 4 2.1 Room Count 4 1.1 -2,500 9 7 4 2 8 1,891 Sq. Ft. +3,300 2360 Sq. Ft -8,425 2,156 Sq. Ft Gross Living Area 2023 Sq. Ft -3,325 FWAICENT FWNCENT Heating/Cooling HW/CENT FWNCENT +5,0002 CAR Garage/Carport I CAR 2 CAR 2 CAR +3,540 -1,420 NONE Porches, Patio, -1,800 EP 224,WD 160 EP 1 96,PT 240 EP 1 56,WD 120 +11,440 +11,440 UNFIN BASEMENT +11,440 UNFIN BASEMENT Pools, etc. UNFIN BASEMENT 1144 FIN BSMNT NONE NOTED NONE NOTED Special Energy NONE NOTED NONE NOTED Efficient Items
Net Adj. (total( Indicated Value of Subject General Comments
' -1,305 Li+ -6,445 Li + M - $ - $ ' Li + Net: Not: Net: 0.5% 1.9% Gross: 258.695 Gross: 9.6% $ 335,555 Gross: 13.1% $ THE SUBJECT HAS NOT BEEN LISTED FOR SALE IN THE PREVIOUS TWELVE MONTHS.
Property Rights Appraised
M
Fee Simple
Li Loused Fee Li Leasehold Li Other (describe) Opinion of Market Value $
300,000
M-
as of
$ 5.0% 15.0%$
346,780
07/08/2014
Date of Report/Signature 07/08/2014 Signature ott44-jd444 Title or Designation Certified Residential Appraiser Complot.edBy LOUIS BUCCINI Expires 04/30/2015 License or Certification State CT License or Certification # CTRCR.0000932 X Exterior Only Date of Inspection: 07/08/2014 None Interior & Exterior Inspection of Subject: Form 7049— WinTOTAL' appraisal software by ala mode, inc. - 1-800-ALAMODE
Li
-18,220
lOther File No. NNHCV1 46044497S1 Pane #41
Location Map Borrower/Client Federal National Mtq Assc. v Petro, et al Property Address 77 E Main St City Branford Lender SUSAN L. JACOBS, LLC
State CT
County NEW HAVEN
Zip Code 06405
a la mode, inc. ' V.
4 y
740
A/
I
~uppey Fund
Comparable # 2 7 FEATHERBED IN Branford, CT 06405 1.66 miles NE
.
ecenw
/
0
Pine or,; a0
Comparable # 1 1 WILDW000 DR Branford, CT 06405 0.68 miles SE
Brar4nvea
Comparable # 3 74 S MONTOWESE ST Branford, CT 06405 1.17 miles S
142
1
0.6 mile ,:7rY
Form MAP.LOC -'WinTOTAL' appraisal software by ala mode, Inc. -1-800-ALAMODE
0
lOther File No. NNHCV1 4604449751 Page #51
Subject Photos Page Borrower/Client Federal National Mtg Assc. V Petro, at al Property Address 77 E Main St City Branford Lender SUSAN L. JACOBS, LLC
County NEW HAVEN
State CT
Zip Code 06405
Subject Front 77 E Main St Sales Price N/A 2,023 GLA Total Rooms 7 Total Bedrms. 4 Total Baths 2 Location AVERAGE/BUS Site/View AVERAGE .34 ACRES Age
74 YEARS
Subject Street
Form SUBLG2 - "WIoTOTAL' appraisal software by ala mode, inc. - 1-800-ALAMODE
Other File No. NNHC Vi 4604449751 Page #6
Comparable Photo Page Borrower/Client Federal National Mtg Assc. v Petro, et al Property Address 77 E Main St Branford City Lender SUSAN L. JACOBS, LLC
County NEW HAVEN
State CT
Zip Code 06405
Comparable 1 1 WILDWOOD DR 0.68 miles SE Prox. to Subject 342,000 Sales Price Gross Living Area 2,156 Total Rooms 8 Total Bedrooms 4 1.1 Total Bathrooms Location AVERAGE/SUP View AVERAGE .29 ACRES Site Quality 59 YEARS Age
Comparable 2 7 FEATHERBED Prox. to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age
LN 1.66 miles NE 260,000 2,360 9 4 2.1 AVERAGE/BUSY AVERAGE 1.42 ACRES 52 YEARS
Comparable 3 74 S MONTOWESE ST Prox. to Subject 1.17 miles S Sales Price 365,000 Gross Living Area 1,891 Total Rooms 8 Total Bedrooms 3 Total Bathrooms 2 Location AVERAGE/BUSY View AVERAGE Site .40 ACRES Quality 82 YEARS Age
Form PICPIX,CR - 'WinT0TAL appraisal software by ala mode, inc. - 1-800-ALAMODE
Affidavit of Appraiser Borrower/Client Federal National Mtg Assc. v Petro, et al Property Address 77 E Main St City
Branford
Lender
SUSAN L. JACOBS, LLC
State CT
County NEW HAVEN
AiiA
llHGfi1
Zip Code 06405
fl0lhse ff31
til31LE APPRAISAL SERVICES 10 80,, 1-10611
East Haven, Cl 013312 (203) 400.0353
AtftdavIt of Appeatsir SUSAN L JACOBS, LIC AT tORNEY AT LAW 129 WHITNEY AVENUE NEW HAVEN. or oeyio
R
Proosty Borrower. File No.:
77 C May Si Branford. CT 85105 Federal National MIT; MOO, v PolIo. 0101 NNHCV1460444075
Otrtose,t' at 'flue' S 300,008 07/0812014 Effective Date,
Louis J. Buccini d/bta Style Appraisal Services 30 Main SL East Haven, CL, being first duly sworn, depose and $1010 05 follows: 1. That I am over age of eighteen(t e) and that I understand and believe in the obligation of an oath. 2. That I am a stale certified teat estate appraiser, 3. That I appraised the property referenced above. 4, Based on Assessment Records, Multiple Listing Service and an Exterior Inspection from the street. It is my opinion the Fair Market Value as of 0710812014 is $350000 of which S75,000 is attributable to the value of the site and $225,000 attributable to the value of the improvements thereon. S. My rsrnaested fee, for this affidavit and appraisal is 5300
Sincerely,
4L LOUIS BUCCINI license or C,otieutika, 0, CTRCR.0000532 Eapire:04l351ZO*8 2tar,r: CT stylesupra5althsocfIueal.flOt
Loots Dentint, PersellallS ,i1,poare1tsth0 cobocibed the foregoing affidavit or and sw t heroro toe thin iv
ooethsnEU4J
Form MAP.Genetic - "WInTOTAL' appraisal software by ala mode, inc.
- 1-800-ALAMODE
lOther File No. NNHCV146044497S1 Fare #2]
APPRAISAL OF REAL PROPERTY
LOCATED AT: 77 E Main St Branford, CT 06405
FOR: SUSAN L. JACOBS, LLC 129 WHITNEY AVENUE NEW HAVEN, CT 06510
AS OF: 07/08/2014
BY: LOUIS BUCCINI
Form GAl - "WinTOTAL' appraisal software by a la mode, inc. - 1-800-ALAMODE
Other File No. NNHCV1 46044497S1 Pace #31
Style Appraisal Services
Limited Appraisal Analysis - Summary Appraisal Report NNHCV146044497S File No. S1411119
BORROWER/SUBJECT PROPERTY INFORMATION Map Reference 35300 Census Tract 1841.00 Borrower Federal National Mtg Assc. v Petro, et al PUD Check one: X SF [..T Condo Li 2-4 Units Property Address 77 E Main St State CT Zip Code 06405 County NEW HAVEN City Branford Mos. Owners Est. of Value $ N/A Term Loan Amount Requested $ N/A N/A Phone No. Res. N/A Central Air Family room or den Gross Living Area Pvp1 slin nr No. of Baths No. of Rooms No. of Bedrooms type no.) No Yes No 2,023 Sq. Ft. 2 CAR DECK 2 4 7 Li Yes
U
U
M
FIELD REPORT NEIGHBORHOOD Fair Poor Good Avg. NEIGHBORHOOD RATING Suburban Location • Urban Li Rural Property Compatibility Over 75% 25% to 75% Bulb Up • Under 25% General Appearance of Properties Slow @ Steady Growth Rate Rapid • Fully Dev. • Declining Appeal to Market Increasing 04 Stable Property Values In Balance over Supply Demand/Supply Li Shortage 4-6 Mos. Marketing Time • Under 3 Mos. Li Over 6 Mos. 5% Industrial 10% Vacant % 10% Commercial 10% Apts. 10% Condo Present Land Use 40% 1 Family 15% 2-4 Family To El— Taking Place From it Likely • Likely Change in Present Land Use 3% Vacant INFORMATION EXTRACTED FROM MULTIPLE Tenant Predominant Occupancy 01 Owner Similar Housing Price Range $130,000 Predominant Value $ 300,000 LISTING SERVICE, PUBLIC RECORDS AND to $ 785,000 46 yrs. GPS MAPPING. Similar Housing Ago 1 yrs. to 162 yrs. Predominant Age Note: Race and the racial composition of the neighborhood are not considered to be appraisal factors. Comments including those factors affecting marketability (e.g. public parks, schools, view, noise) THE AREA S COMPRISED OF RESIDENTIAL DEVELOPMENTS OF VARIOUS AGES AND STYLES. THE SUBJECT PROPERTY WAS DEVELOPED IN THE 000o/S. STYLES IN THIS SUBDIVISION RANGE FROM CAPES TO CONTEMPORARIES WITH NO PREDOMINANT STYLE. S/F PRICING AND CHARACTERISTICS PERTAIN TO WHAT TYPE PROPERTY IS BEING APPRAISED. SUBJECT PROPERTY Fair Poor PROPERTY RATING Good Avg Na. of Stories Approximate Year Built No. at Units 1.75 1 1940 Condition of Exterior Type (detached, duplex, semi-detached, etc.) detached Compatibility to Neighborhood Design (rambler, split, etc.) CAPE Appeal and Marketability • Roof Material ASPH COMP Li Exterior Walls Material CLAPBOARD No Li Yes Is the property located in a FEMA Special Flood Hazard Area? Special Energy Efficient Items NONE NOTED
03
01
U
U U
U03• U •03Li
U U
01•
U
U
U U
li
Comments (favorable or unfavorable including any deferred maintenance) ANY DEFERRED MAINTENANCE.
02
U U
U U
U
FROM AN EXTERIOR INSPECTION THERE WERE NO OBVIOUS SIGNS OF
SALES COMPARISON ANALYSIS COMPARABLE NO. 3 COMPARABLE NO. 2 COMPARABLE NO. 1 SUBJECT ITEM I 74 S MONTOWESE ST 7 FEATHERBED LN 1 WILDWOOD DR Address 77 E Main St Branford, CT 06405 Branford, CT 06405 Branford, CT 06405 Branford, CT 06405 1.17 miles S 1.66 miles NE 0.68 miles SE Proximity to Subject 264 155 Days on Market 15 N/A 365,000 Is 260,000 342,000 Is Sales Price N/A $ Is $ 193.02 /Sq. Ft.I 110.17 /Sq. Ft.! /Sq. Ft. $ $ Sales Pnce/Sq. Ft. 158.63 /Sq. FI.I $ CTMLS/PUB RECORDS CTMLS/PUB RECORDS DataJVerif. Source(s) INSP/PUBLIC RECO CTMLS/PUB RECORDS DESCRIPTION Adjust. DESCRIPTION +(—)$ Adjust DESCRIPTION +1—IS Adjust. VALUE ADJUSTMENTS DESCRIPTION 6/27/14 4/28/14 7/18/13 Date of Sale/Time N/A AVERAGE/BUSY AVERAGE/SUP -10,260 AVERAGE/BUSY Location AVERAGE/BUSY -5,400.40 ACRES 1.42 ACRES Site Size .29 ACRES .34 ACRES AVERAGE : AVERAGE Site Mew AVERAGE AVERAGE 82 YEARS 52 YEARS 59 YEARS Age 74 YEARS -36,500 CAPE/GOOD COLONIAL/AVG COLONIAUAVG Condition CAPE/AVG Total :Bdrms Baths Total Bdrms Baths Total :Bdrms: Baths Total :Bdrms Baths Above Grade 2 -2,500 8 3 4 2.1 Room Count 4 1.1 -2,500 9 7 4 2 8 1,891 Sq. Ft. +3,300 2360 Sq. Ft -8,425 2,156 Sq. Ft Gross Living Area 2023 Sq. Ft -3,325 FWAICENT FWNCENT Heating/Cooling HW/CENT FWNCENT +5,0002 CAR Garage/Carport I CAR 2 CAR 2 CAR +3,540 -1,420 NONE Porches, Patio, -1,800 EP 224,WD 160 EP 1 96,PT 240 EP 1 56,WD 120 +11,440 +11,440 UNFIN BASEMENT +11,440 UNFIN BASEMENT Pools, etc. UNFIN BASEMENT 1144 FIN BSMNT NONE NOTED NONE NOTED Special Energy NONE NOTED NONE NOTED Efficient Items
Net Adj. (total( Indicated Value of Subject General Comments
' -1,305 Li+ -6,445 Li + M - $ - $ ' Li + Net: Not: Net: 0.5% 1.9% Gross: 258.695 Gross: 9.6% $ 335,555 Gross: 13.1% $ THE SUBJECT HAS NOT BEEN LISTED FOR SALE IN THE PREVIOUS TWELVE MONTHS.
Property Rights Appraised
M
Fee Simple
Li Loused Fee Li Leasehold Li Other (describe) Opinion of Market Value $
300,000
M-
as of
$ 5.0% 15.0%$
346,780
07/08/2014
Date of Report/Signature 07/08/2014 Signature ott44-jd444 Title or Designation Certified Residential Appraiser Complot.edBy LOUIS BUCCINI Expires 04/30/2015 License or Certification State CT License or Certification # CTRCR.0000932 X Exterior Only Date of Inspection: 07/08/2014 None Interior & Exterior Inspection of Subject: Form 7049— WinTOTAL' appraisal software by ala mode, inc. - 1-800-ALAMODE
Li
-18,220
lOther File No. NNHCV1 46044497S1 Pane #41
Location Map Borrower/Client Federal National Mtq Assc. v Petro, et al Property Address 77 E Main St City Branford Lender SUSAN L. JACOBS, LLC
State CT
County NEW HAVEN
Zip Code 06405
a la mode, inc. ' V.
4 y
740
A/
I
~uppey Fund
Comparable # 2 7 FEATHERBED IN Branford, CT 06405 1.66 miles NE
.
ecenw
/
0
Pine or,; a0
Comparable # 1 1 WILDW000 DR Branford, CT 06405 0.68 miles SE
Brar4nvea
Comparable # 3 74 S MONTOWESE ST Branford, CT 06405 1.17 miles S
142
1
0.6 mile ,:7rY
Form MAP.LOC -'WinTOTAL' appraisal software by ala mode, Inc. -1-800-ALAMODE
0
lOther File No. NNHCV1 4604449751 Page #51
Subject Photos Page Borrower/Client Federal National Mtg Assc. V Petro, at al Property Address 77 E Main St City Branford Lender SUSAN L. JACOBS, LLC
County NEW HAVEN
State CT
Zip Code 06405
Subject Front 77 E Main St Sales Price N/A 2,023 GLA Total Rooms 7 Total Bedrms. 4 Total Baths 2 Location AVERAGE/BUS Site/View AVERAGE .34 ACRES Age
74 YEARS
Subject Street
Form SUBLG2 - "WIoTOTAL' appraisal software by ala mode, inc. - 1-800-ALAMODE
Other File No. NNHC Vi 4604449751 Page #6
Comparable Photo Page Borrower/Client Federal National Mtg Assc. v Petro, et al Property Address 77 E Main St Branford City Lender SUSAN L. JACOBS, LLC
County NEW HAVEN
State CT
Zip Code 06405
Comparable 1 1 WILDWOOD DR 0.68 miles SE Prox. to Subject 342,000 Sales Price Gross Living Area 2,156 Total Rooms 8 Total Bedrooms 4 1.1 Total Bathrooms Location AVERAGE/SUP View AVERAGE .29 ACRES Site Quality 59 YEARS Age
Comparable 2 7 FEATHERBED Prox. to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Location View Site Quality Age
LN 1.66 miles NE 260,000 2,360 9 4 2.1 AVERAGE/BUSY AVERAGE 1.42 ACRES 52 YEARS
Comparable 3 74 S MONTOWESE ST Prox. to Subject 1.17 miles S Sales Price 365,000 Gross Living Area 1,891 Total Rooms 8 Total Bedrooms 3 Total Bathrooms 2 Location AVERAGE/BUSY View AVERAGE Site .40 ACRES Quality 82 YEARS Age
Form PICPIX,CR - 'WinT0TAL appraisal software by ala mode, inc. - 1-800-ALAMODE
