Manufactured Home Appraisal Report - FCI Exchange

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Manu ac uredH orne Appralsa
eport FDe•• 1083W610
f t
IR
IFile No I083W6101 Page #61
THE SUBJECT PROPERTY IS LOCATED IN ST GEORGE A SMALL COMMUNITY IN RURAL DORCHESTER COUNTY. ST GEORGE IS A
SMALL TOWN AND PROPERTIES ARE TRADITIONALLY PASSED DOWN FROM GENERATION TO GENERATION. THERE HAVE BEEN FE'"
SALES OF PROPERTIES SIMILAR TO THE SUBJECT IN ST GEORGE IN THE PAST TWELVEMONTHS /IE. MANUFACTURED HOMESl.
WHEN APPRAISING MANUFACruRED HOMES IT IS NECESSARY TO COMPARE THE SUBJECT TO OTHER MANUFACTURED HOMES
WHICH FORCED THE APPRAISER TO GO FURTHER AWAY FROM THE SUBJECT THAN NORMAL. THE COMPARABLES USED ARE THE
NEAREST AVAILABLE SALES LOCATED IN VERY SIMILAR AREAS. FULL EFFORT HAS BEEN GIVEN TO LOCATING THOSE SALES WHIC~
FALL WITHIN TYPICAL APPRAISAL AND UNDERWRITING GUIDELINES. HOWEVER THE APPRAISER HAS pLACED MORE EMPHASIS ON
SELECTING THOSE SALES WHICH ARE CONSIDERED MOST SIMILAR TO THE SUBJECT PROPERTY. THE LACK OF SIMILAR SALES
DOES NOT INDICATE A LACK OF MARKET DEMAND FOR THE SUBJECT PROPERTY. FULL CONSIDERATION HAs BEEN GIVEN TO BO~
THE QUALITY AND QUANTITY OF MARKET DATA. THE ESTIMATED VALUE HEREIN IS CONSIDERED ACCURATE AND ADEQUATELY
SUPPORTED. THERE ARE NO OTHER SALES AVAILABLE WHICH WOULD OFFER A MORE ACCURATE INDICimON OF THE SUBJECrS
MARKET VALUE.
PER LENDER'S REQUEST ONLY 5.0 OF THE TOTAL 8.24 ACRES WAS APPRAISED IN THIS REPORT .
INCOMEAPPROACH TO VALUE (not reQuired bv Fannie Mae.)
• Estimated Montljy Market RentS X Gross Rent Multiplier =6 IndicatedValuebY Income Aooroach
SummarY01 Income Aooroach Includino SUDoortfor maJ1