James F. & Patricia A. Janos
James F. & Patricia A. Janos -123 Cider Mill LOOD. WaDDinl!ers Falls. NY /2590 845-297-5232
July 18, 2008
Mr. Bradford Kendall
Dutchess County Clerk
22 Market Street
Poughkeepsie, New York 12601
RECEIVED
JUL 1 8 2008
RE:
Petiton - Small Claims Assessment Review
TOWN CLERK
Dear Mr. Kendall:
We have attached our completed Petition - Small Claims Assessment Review In Counties Outside New
York City and the supporting documentation along with three copies of the Petition and the supporting
documentation.
Should you have any questions or need additional information, please do not hesitate to call us at 845-297-
5232.
Very truly yours,
..~. . aff
Ja. es. F. Jan" -
v:::; \. ,,/1
.~iI#~
cc: Diane Jablonski, Dutchess County Controller, 22 Market Street, Poughkeepsie - w/attachments
Christian Harkins, Wappinger Assessor, 20 Middlebush Road, Wappingers Falls - w/attachments
Chris Masterson, Wappinger Clerk, 20 Middlebush Road, Wappingers Falls- w/attachments
Susan Penney, WCSD Clerk, 167 Myers Corners Road, Wappingers Falls - w/attachments
RPTL 730
UCS 900 (Rev. March, 2007)
PETITION
SMALL CLAIMS ASSESSMENT REVIEW
IN COUNTIES OUTSIDE NEW YORK CITY
(one petition per parcel)
PART 1
GENERAL INFORMATION
SUPREME COURT, COUNTY OF /),J;'che.~'~
1. Filing # ~of" 53fJO /S? Calendar #
"
2. Assessing Unit I C'iA),1/ c;L' lV;P1:///i/t:i'e..e.
,. iJ V;; 1'1 / ,iOo,y
3. Date of final completion and filing of assessment roll
I .
(a) Total .$' ~/l1: tit't1 -
.
(b) Exempt amount ,-
<1 "Hi 5tJt ' ,..-."~
(c) Taxable assessed value (3a-3b)
4. Date of filing (or mailing) petition v7i/V /l, ;uM;l
/
V/1HLs ;: +- 14#/t'/4- 4 ....-=.-
5. Name of owner or owners of property: v' If;.\k' 5
Post Office Address: /X3 Ci'de/( If,i/ kc tJ t~1I;1t'1;/ /b?fl/t.t ;;;//.~> ..1/ v'
~/f" )
Telephone #: 1'16-- A91 ' ,52,32 t I:';
6. If applicable, name and address of representative of owner, if representative is filing application:
(Owner must complete Designation of Representative section.)
Telephone#: NiJ!f
7. Description of property as it appears on the assessment roll.
Tax Map # Section Block Lot
/3'.:2- f f'J.- ~..2 j-f/ - Ci.tf - '7(, t./ 6-5- ~> () 0('6
8, Location of property (street, road, highway number, and city, town or village) r
"'
(I//e,e #'/(Le-tO r :
/)t3 ..~-
':,'j
<;-;.. 'P ,! /7 J.1/ # ///11/1 c/t..,
l'U..I1' 1fT-
")
....',-
PART II
GROUNDS FOR PETITION
A. Assessment requested on the complaint form filed with the Board of Assessment Review
1.
2.
3.
Total assessment
Exempt amount, if any
Taxable assessment
~ 3:215'JI./J. ,-
" '4
" 32,7, !j"xtJ .. .~-
/
B. CALCULATION OF EQUALIZED VALUE AND MAXIMUM REDUCTION IN ASSESSMENT
1. [ -,t.{.... Property is NOT in a special assessing unit.
ASSESSED VALUE
.C# ift.j1; :f"ttJ . .-
EQUALIZATION RATE
/t~ ft
,
EQUALIZED VALUE
~:~
'* ij-~~'.j~tJ t~_
2.
[ ]
Property IS in a special assessing unit.
ASSESSED VALUE
CLASS ONE RATIO
EQUALIZED VALUE
3.
[ ]
If the EQUALIZED VALUE exceeds $450,000, enter the ASSESSED VALUE here:
Multiply the ASSESSED VALUE by:
Enter the result here:
The result is the maximum total assessment request reduction allowable.
x 25
C.
[ ]
UNEQUAL ASSESSMENT: The total assessment is unequal because the property is assessed at a higher
percentage of full (market) value than (check one).
] (a) the average of all other property on the assessment roll, or
] (b) the average of residential property on the assessment roll.
Full (market) value of property: $
Based on one or more of the following, petitioner believes this property should be assessed at %
of full (market) value:
1. The latest State equalization rate for the assessing unit in which the property is located (enter latest
equalization rate: %).
2. The latest residential assessment ratio for the assessing unit in which the property is located (enter
residential assessment ratio: %).
3. A sample of market values of recent sales prices and assessments of comparable residential
properties on which petitioner relies for objection (list parcels on a separate sheet and attach).
4. [ ] Statements of the assessor or other local official that property has been placed on the roll at
%.
Petitioner believes the total assessment should be reduced to $ . This amount may
not be less than the total assessment amount indicated in Section A (1), or Section B (3), whichever
is greater.
D.
[!{''' EXCESSIVE ASSESSMENT:
1. [vi' The total assessed val ue exceeds the full (market) value of the property.
Total assessed value of property: $ ).jtf~ ';)otl . -- '" ,_
Complainant believes the total assessment should be reduced to a full value of $ ~:;c7 .:lAC!.
Attach list of parcels upon which complainant relies for objection, if applicable. .
This amount may not be less than the amount indicated in Section A (1), or Section B (3).
2. [ ] The taxable assessed value is excessive because of the denial of all or a portion of a partial
exemption. Specify exemption (e.g., aged, clergy, veterans, etc).
Amount of exemption claimed: $ . Amount granted, if any: $ . This
amount may not be greater than the amount indicated in A (2).
If application for exemption was filed, attach a copy of application to this petition.
E. INFORMATION TO SUPPORT THE FULL (MARKET) VALUE CLAIMED
1. Purchase price of property $
Date of purchase
Relationship, if any, between seller and purchaser
2. [ If property has been recently offered for sale:
When and for how long:
How offered:
Asking price: $
3. [ v]' If property has been recently appraised:
When: II 'Ii' ddtl'
Purpose of appraisal: t' ,- /::;"",,"9'AJ-': e A
Appraised value: $ .35"(... {,ltJ(). -
By Whom: !7fd#): ({ "f)l.5S ~M/.iHh
,
1- C~/I t~/' #//1/01IJ/'/ / /6 :t1fl7Jc-lfl/'d:
4. [ If buildings have been recently remodeled, constructed, or additional improvements made, state:
Year remodeled, constructed, or additions made:
Date commenced: Date completed:
Cost: $
5. [ v( Amount for which your property is insured: $ n.s- ;lot) . ./" 'f
Name of insurance company and policy number: E:vI:V'lA,d,1.i~ .L;i,;J<4'.edN''':e,
,
6. [ vi( Purchase price of comparable property(ies) recently sold: $ .3:3 i . ~.tJ6-
,
.!('J.; tJf/~/; CiyY If:: ;V"i/;lj
ffil'l# ..J(/:rYlb'117
;f j'et! /l11iJc/Jed .5/;t/)1 tI,jAicr~
PART III
LISTING OF TAXING DISTRICTS
Names of Taxinq Districts
1. COUNTY: /Ja Ili;e.f.J
2.
TOWN: 11/o//'/Il-;Jt/1
VILLAGE:
3.
4.
SCHOOL DISTRICT
lJ1//~;PI1ft/J p,lli-
Ilf'TL 730
PART IV
DESIGNATION OF REPRESENTATIVE TO FILE PETITION
I,
, as petitioner (or officer thereof) hereby designate
to act as my representative in any and all proceedings before the Small
Claims Assessment Review of the Supreme Court in
County for purposes of reviewing
the assessment of my real property as it appears on the
year assessment roll of
(assessing unit)
Signature of Owner
(Or officer thereof)
Date
PART V
ELIGIBILITY AND CERTIFICATION
I certify that:
(a) The owner has previously filed a complaint required for administrative review of
assessments.
(b) The property is improved by a one, two or three family, owner-occupied residential structure
used exclusively for residential purposes, and is not a condominium; except a condominium
designated as Class 1 in Nassau County or as "homestead" Class in an approved assessing
unit.
(c) The requested assessment is not lower than the assessment requested on the complaint
filed with the assessor or the Board of Assessment Review.
(d) If the equalized value of the property exceeds $450,000, the requested assessment
reduction does not exceed 25 percent of the assessed value.
(e) I have mailed, by certified mail, return receipt requested, or, delivered in person, within ten
days after the day of filing this petition with the County Clerk, one (1) copy of this petition to
the clerk of the assessing unit, or if there by no such clerk, then to the officer who performs
the customary duties of that official.
(f) I have mailed by regular mail within 10 (ten) days after the filing of the Petition with the
County Clerk one (1) copy of the Petition to:
(a) The clerk of the school district(s)* within which the real property is located, or if
there be no clerk or the name and address cannot be obtained, then to a trustee,
(b) The treasurer of the county in which the property is located,
and
(c) The assessor, or, the chairman of the board of assessors
I certify that all statements made on this application are true and correct to the best of my knowledge and
belief, and I understand that the making of any willful false statement of material fact herein will subject me
to the provisions of the Penal law relevant to t making an iling f faJse instruments.
;' A4~4
. Signat e Ower or representative
I
f
(*NOTE: You are not required to file Wi~ th..e Buffalo City. ch District, the Rochester City School District,
the Syracuse City School District or the Yonker$-efty School Distric .
~ FannieMae
Uniform Residential Appraisal Report
fd.:
67618
I ]IL' IIUIIl\!~c' ld 1111' >>\ITl 1!l1 ,\I \ <lI1PLIISill rC:Il\)r1I~ 1(~W.h1.: kIHkr,dl<.:f11 \\1111 ,Ill <I1;":Uliltt; :Ultt ad<.:lI\hlldV sUflpurlo.:d, 01l1l1Wll Ofll1,: IWHh:<'1 I,-du<: utllk Sllhl1..'Cf [HIlI,,'r!"
('11\ Wappinqers Falls
Owner uf Puhlir R<.:~'()rd Janos
1 ,,.,111,-, '[IPIH' Liber \485 Paae 262 Deed Not Provided Town of WaDOIlloer
,,,'"'''' 1'",,,1, 1356896258-04-766155-00
Y A I
HIT"",' Est8.72820
1 I.
'!l'r \~.;TI~~:,~
1')""",-1\,;,dd,,,,, 123 Cider Mil! Loop
'.;lilkJiy______ In> c<lt1,-J15i!9._____
CnUIlI\ Dutchess
II},,;,S
(Jtl'r dc.;'
I, Ill, ~td'H' 'I JH';P 'r!" "Ul.ll:.LJ.14:...11.JJ'f ." for ""11,. Ill" h. ~ ,I k
'1\ "If "r ..1 fill "..1,. III llw lw -Iv,< m"l\lh~ pr'lllr In rill' "n('{'II~'{'
NY 12601
_Llk_~
As per MLS and the owner, on November 20,2007, the sub,ect property IS not for sale and hasnol been ohered for
_._~cs,
159 Barneqat Road
Pouqhke'llCsle
loll" nl'lfll~ qpl,nl~-\I.'
clu! nUl <lllalY/c IIII' eorllrac! for ~ilk for Ih..: sllbJ(.:Cl purdr<l~(': It,lIlSOlcllOll. Lxplall1 Ih..: fl.'<;ulb oflnc JJ1illvSIS u111\..: (;onlracllor ~Jk or wh\' th..: ;lIi;dvSI'
_( ~Wl!_~_b:.!H
]);l1e of(.OI1I!iICt
h lhl. Jro )ert 'sdkl" TIle ow \ 'I" (It 1 Jhli~' r~'corJ"
y\:o
]\;"
L.Ul.LIGill
I r y,> 11.-'111In lhe lul;1I dollar al11U\l111 and dcsl'r rn,' llw ikms 10 he n.llu
l , 1 ) C ~ II ] III \
On l' if H
PRIC.l
I'r'''clIll.'lldl;q'u".
~(;f ()I\,".l.'flll 65
.....s..u.
(;II\\VII1 Mar.t:li1 'Tilllt' )\"r6111h<; 185 l.n\\ New Mullll<[lllIiI 1
900 200 ~_----""'
SouHI VilliSdl Road to the NOl1h nd Route 76 East 350 P 'Ii _40 I ",., 25
!\J"H'llhllrhnnri n """;1'1;1111 The subiect neiqhborhood consists of homes of various styles and aqes, Small retail businesses and all support facilities are located within a
jgasonable distance The subiect is served bv the Waooinaer Central School Distnct.
1I.,1-lrk '1 (.n"illIH\I'~ Ii ,,'llldin" '1l1']1I rl ff,rrlH' .\hnvj' u,n,.lu,;"n~1
While home values have declined In the recent Dast the real estate market In the
~f area appears tD be stablllzlnq T radllional forms of financinq are available
OIIIlI.'JI~I(\I1~ 100 x 187 x 99,8 x 181,6
Area .42 Acre
SharK' RectanQuJar V I~ _ Averaqe
Residence Dlstnct Minimum 40000 s ft lot size
\1) ..if. 7""",,, (.\",,~jnl R40
ZUl\ln" ('Ol1lnllillll<.' _L_.1]....\.al Xl.' ,-11 J'.,;OIlClJllfUflllill' (.n falhcr,,;d US'
!I!ellal Jt"~..:rjb<,;
X Ye' l~J~'~LL~~.'.L_J~Llli:.~
.L....!..W:Jl.!.;,~JI~"1 '1Ild lh.~lll~(' \lflli~ ,ubl<'''! lllu[)erll' '!~ Irllf1!'o\'l'd lor ," IlI"llo~~d Iwr IlhJ1<; and slKelfl ,. till .
rihel
Off-~il.. 111l11fCl> ('Ill l'll 1\ LL\.H:_~
---'"'=- M m
Aile\' None
'ulli l'1\':
\\'.Ir,'r
:--illlrl,lr S'wcr
361387-00048
J. r \ 1.\ \,1 " ' 1)'11' 9/22/1999
,>\i'~ Ihe IllillllCS and (lfr.~ik 11l1)H()H'l\lrn(~ IV)1i~'.11 for the llIi.Hkct: rc' ','
~u If No <.:\~[!b~'
Ar<' Illerl.lIl\, 'td"'o;r~c sile l"nlldrli()ll~ or L':-\tcnwl LIl"lnr~ {l'i\s<:rnCllls cl1cro,u.:hlllcnl<; Clll'lr III . [ I I s -<; X ~(' IrYl'~ ,ks~-rllll'
No adverse easements encroachments or enVIronmental conditions noted. fhe aooraiser IS not oualifled to detect ootentlallv hazardous malenals thai may aHect the value The
sublect's site Size predates current lot size and is leqally non-conforminq If the Improvements are destroyed application must be made to the ZOnlnq Board before rebuildlnq to
n If II m r If In n rn
EXTERIOR!) : 'CIorTlO.\I O1alrrial.-!conJitio
Pre Concrete/Av
'Ill blcrior W;llh Vin I/Good
R ) ,f S Ir .'1 . As h Sh/Good
I~TERI(lR mOlterialslcOllllillOll
Wood CeraIllIG,Car2-~VGood
Wall~ Sheetrock,Panelinq/Good
Tril\\'rilll~h Wood/Good
\\ II 0\\ Tv 't. OH.CasemenUGaod
~Q.Qjj
S\:rC<:l1~ Yes/Good
1+
Fir )Iaees t!
rrnee
ll~
X
l,,,It~I,. I, 1" ~hn\'/' PI" I r 111'1111, 8 R'Wlln" 2,5 1l.11hl<;1 2 242 <';'1 ""rr' r. 'r '!'(;l''''' I r\'II," .\".. .\hn\" ('r',d,'
\ddllillllal kalllrr\ iSl1<.'l'lill Clln"l' drrrlcnlll\:1I1S clt~The sublect has a skyllqht alarm system, screened patio whirlpool two level deck and shed, There is a fenced In dQ9_'?_~~
~_nd an above ground pool to wtlich no value IS given.
lli.~.Llll~!J_ullhL'IHnllerl\. (IrlcluJ1lll' 1ll:L'lkll rellilllS dt:lcrioratioll. r<:I\O\'~lliom, rt:rTlodclil\l! ele.) The subiect IS In Qood condition Updates
r.c!Qf Windows ._~ldtnQ bathrooms and refacmq at kitchen cabinets The owner is in the process of renavatinq the master bath The toilet has not been Installed and the shower IS
not Junctional, This lias been considered in the value
~~u.;..Lll.J.l.:.U,."..., II' ',d\'",,,.,-,,,,d,I""l' II,"! "n,.", rlr I,,",hilil}' ",uulln,"'" "r~lr""lllr..1 Hl!<'l!rlty j,ft\" IHnp,'jly"
I ],.. rxk ,,\
I",. ,h
-[he appraiser did not note any adverse conditions or physical deficiencies that would affect the livability, soundness or stfucturallnteQritv of the property The Inspection of lhe
."~blecf property by the appraiser IS not Intended to replace a report pie pared by a structural engllleer
1)111.:, lhr 111011t'rJ\- l't'lll'rallv l"(1I1IOIIJ1 to lhL.' llei"hlwrJ100d I fUl\ CI!.'JJ.!j1 I Illrtll;- <;IV]t cUlIllillt'll tl~l' Con~lr\lelltl11 ell: 1"
Ixk,!
IN" ","
lk,uinc
Ilo:,ldll; /..lill j'urlll /tl ,\l:lJch 21111~
I"l!-<clof(l
f ~,nllr.- I\h', fortH IllIl>-I i\Llfcll 2il():;
Powered aU t::.:~'~C;I~~.. III
Uni fom1 Residemial Appraisal Report
rilL
67618
FI:A-I\.II([
61.'unlll:lrclhk 'Jrml<.:fll'-''' I.lJrr""lll- one'H'd for s"L In tht; ~uhi<':I.'111t:,\.!lthoTh"ud r,llll'lnl! IIIIHI\.', from '\..
vum );]f:!bk s:llr:~ llllhe' _~ubi<.:ct ll<:I"hhflrhoou wllhmlhc )last Iwell'L 1l1Onlh~ rani:II\1.' In ~:llt flO.:..: !rOlll S
1
111"I<"lIc"
II,c-r,-.lf":
318.500 'u' 429.000
3~S OO~,__ _____~~000
CU:>!J-'-\I<.\BLL s."\l_r'~-
2 Grace Court
W"""1n f!~ r:-allc N'(
Annrox 17 Miles
,\ddrc,,~
SUBJECT COr';lf'.-\RAOLE 5.'\L[ ,;> I
123 Cider Mill Loop 3 Top 0 Hill Road
Wennlnner- Fell, NY Wennlnnp, F"", NY
Aoorox 1.2 Miles
l'Uivll':\R.-\13LL 'i.\LE ~::.
62 Wnglll Boulevard
Hoopwplll"ocuQ!.l.l!L___ _
Aoorax 2 Miles
l'ri'\IIIIII' I. \llill<:,'1
~--
s.L~
Sale I'flU~,'( in.'" 1-1\
\1<.''1,
1);tliIS"lIlcce!S\
\,,\ 1.1I r,\i}H ISr~'lU\"1 S
!JESCRII'TI(lN
.':.ak oJf rll1;1IlClll!"
(''''h'C,SIIIII,
J.1ll..:..uL.:iJU~i"'r'
1..'l':1I1011
veraae
L;,:;I\I'1111ltl:Fcc.:,'iwllili:_ ~~Q!~~
_\<k_.__ _ ._ ~___
~_~ ___~Eaqe
I)" "I {<.;H Snlil Level
Il.u;ilil\ Pt (('ll~lrllni(l1l veraae
42 Years
'\'11,1-\"
~~-~
-~-
-1i!.!ul_.l f>dnns I [j;llhs
RI 41 2."
I
AI",\'c C,I;\(k
!(OOI11 (011\\1
.0.r.~~11VIIl" Arl'a
2.242 S(I. ft
Part Basement
Den
veraoe
CenUNone
ver8n€
lL\Sl:llICl1t 8:. flllishl'J
P"(\lli~ l~l'I(>\\ (irHk
lJ .;\t'""/('",dIlH'
Elll:I"\' l.'tfIL'iLll! l1elll~
".",,,""
2 CarBI
ScrPatro.2LevelDeck
IShedWh I 1 Skvli hI Alrm
I'll' 'h'P' IH.l/Dc.: 'I;
.Amenities Conttnued
AmenitIes Continued
~(t1 ~
I,
150.39 s, ft 1
345,000
-I,
182.99" 11 I
19772","" I
MLS
P
D[SCRIPTION
Standard
Conventional
10/23/2007
Averane ___
Fee Simple
2.2 ACle'
Averane
S lit Level
Averaoe
47 Years
Good
1on! I IJdnnsT rhlh,
RI 41 2
2294" 'I
Part Basement
Unfinished
Averaoe
CenUNone
Averaoe
2 r.ar BI
Deck Frrenlace
Shed
FencedlnarollndPoal
370.000
360 000
I
,
MLS
MLS
p"hl,o~
~-[~ ':,.\dlll'!"L(111
i
I
-11; Ad t1'illrH'llr
DESCRIPTION
i( -) ~ ,-\11 1I,11ll<;nt
DESCRfl''j"j(),'\'
10 oor
Standard
Conventional
10/15/2007
Averane
Fee Slmole
cD_till
Averaoe
S lit LAv I
Averaae
39 Years
Good
Tnl,d lndmh I lhlhs
81 41
_1 000
5.000
4,000
Standard
Conventional
10109/2007
Averaqe I
-1.snn F,:e :~: Jg-- t=~M--:"'_-
AverOi e __
Solil ; eve I I
Sunerior
24 Years
SuoAnM
1'''1,,1 lHdrll1~ I Jhll"
IT - 31 ?
rooD
10.000
1 nor
-1000
2
2,022 v' ft
Part Basement
2,000 Unfinished
Averaae
CenUCen!
Averaoe
1 Car 81 __
-6500 PatraDeck Fllenlace
"'hod 2Sklts EncPch
F encedlnoroundPool
1.000
4,500
1.846", r,
Part Crawl/Slab
2.000
.._1 _ ___ 5 ~OOO
4000
Infenor
-4 000 CenUCent
Aveldae
1 nnn 2 ('or BI
-12.000 Decklence
6.000
14500 I I,
-9.000 r l-
9 500
Ixl
260 "
15.21
.\dlllQvd ;,;dl' ['ne'
I I" r xl
!'i<;1 Adl -4.20 "'"
C;ros~ Adi _~,~4 0,,, s
thL's;1 . 1\'I'~nsf'r hl~lqrv ) 111., e'lh,,'rt nf() ll:rl\ i
Nc'l ,-\d 1J,ltnC:llll-jll!i\1
(lj'C'ol1ll.lIahks
11 X I did I It! tllll'!
I X I
-/.43 "'"
7,03 "" ,
Net ,'\0.1
330,SOC (II"" Ad
:\<;[ .-\01
361 ,000 Cil'n~,""d
~--- --
355500
J c..:. l ,,; Ifnnl ('\)1; III
iU+.r"'~:~l1r-ldld r'-Xllll~nn' l' '\', ,I 'W;' pl" H s'd,'s n(' Ir"Hl"i"'h (,frl,,' slIhH'I'r pfP]Wrt}' f"r Ill<' lhn" 'I,.,"HS IHHH to tll!' ,Hr' 'tI". d'lI'> of this 'IJpr",,,'d
1);11;1 '<UI11l'l"I_, I Public Records
~\' 'l'~l:.!J.LdJ Idld I X I'!.WJ.I()I rl'\c\~ ,111\' IHI!lL:idl'~ ur Inln~fcfS 011l1l" nlllll1a!(ll~I~' s'lks f[lr tIll" V<;'H IHIPr 1<1 till: (hie: ofsdc urlhe l"ln~\nilrill1k ,:IiC-_ _"__
/1- t f ,"11 Ti~
PubliC Records
lTr'l\I_
Itl'lliHI thL' roulb of the rcsL'arch and 0111;\1 ' IS nflhl' lrlor s. I )t transfer 11l>l1l'V I t ll'sun <;I)f I )t:f(', am! UJIll <lrdbl' sak~ r mrl ') Illioll;1I Hl(H ,dks UIl l1il"~';
None
Vak'III'IIO! S<lk'lLll\stu
p, .."I'\-lI'llr\'d,.iTr'l1d"f _..__
l.1.;I/;1 ~litltl'I'1 sl
l'Il,"'llve 1),lIe pI IbLI S"UHTI~)
None
Public Records
11/20/2007
None
None
Public Records
11/20/2007
Public ~cords
11/20/2007
____ fJ!bhc Records
11/20/2007
~\ 1'-. I I,ril,r ~' I 'Ill' 1(' n,1' " hl~l,qy "I' till' ~nhi,','1 PUll) 'rl "LtHI .-.lIt In('-,hk ~'dl'~
N/A
SIII\lII);I("\' pi Sak~ l{lIl1lJ;IlI~1l11 !\p!1fU;ICIi
l(ldll';lIcd \';rllll' In Sak,('pIl11ilrISPI1 1\ 1 l[o,lch $
~~'''''IIf'\('nI1l11'II'hu1L~~
See Paqe 3
356,000
356 000 (' "'" \ ['pm'll'll lilliI" .'Iup..tt I
379 210 l'H'{lIlH' \ DprllHl'h 'i r 11..\ ('Iupi'd I N / ^
'1 hl~ ;IP1H~llS;III\ !I\;Hk X "i1S ";,,, subJl'l:1 tu compklioll p<.'f plans HIlJ sj)<.'<;ifll'dIIOI), 011 thl' ha~l, 01,1 hypullldll:<ll <;UlldlliOl) llwllhl' ImprOV<;lll<;llli 11"I'c !lCCIl
unl1 lklnL Dubll'l:llu IlK lollowing ll:p;llrS lH all<;rulloJls onlhc basis of a hypOlhl:lll'al rundlrlOlllhal rllL' rl'p:.llr~ Of allctilllOfIS hill, l: bn'lll'ullIpl<;IL'd, ur
~llh crt to rhe h)ll()wlll~ 1l'(IUlrcd 11l~IKrlioT1 based on Ow l:c;lraordtlliln- dS~l!jnrltion Illilllhc l,:Ondtlloll III dl'f1<;il:Ill'Y do':~ 1\01 (l(lUlr<; <l1il:ral!111l OJ rCI1;111
BODlaisal is made As Is, No reoairs or sDecial conditions made a oart of this aooraisal
356 000
11/20/2007
Ba\rllulI a complet(' \'j,lIa! ill~p('l: linll of Ihe inll'rior .altd B r~rjlJr 1ll'ellS or I hI' subjt'CI properly. defined scup!' of worl.., ~1:lleml'lll 01 aSSlllllplilltl'i and Itmitill~
cOIll!iIIUIlS. alll! apprais~'i"'s ecrtillralinll, rH\ (uur) IIJlilliun offhl' mark!;'1 lalllt', as lll'fincli.llflllL' rc.1I propert,\' !Inll is fhl' ~uhjccl uf Ihi\ rcpnrr h
11,'ddl(' ~L.l- r'lIll' 7(1 ~vbrL'11 :{IIl,~
!':H~( ~' oj (,
[a11I1I<.' \Lh' 1"1111 I(IIL-I \brot, lllll~
Uniform Residential Appr31sal Report 67618
Comparable #3 is a younqer home with updates and upQrades Superior aqe, condi!JOn and Quality of constructIon adlustments were made accordinolY
C:"rTlEiJIill2i<'lIl.lS_ thlee bedloom An mlerlor functional ublity adlusllnenl was made
COST ,It..PPROACH Tn VA.l (IF (nnt rf'qllirNI h)' Fllnnif' Vhp\
J.J.Q\Hk adc'UlIak 1Il1onlli!.!.l.W.L!(lr 1\1(' Icnda..dJLIlT to lelllH'-IlL' VllllL!.J..!..:illIl'IIIl" <lilt! l-d,:lIllllllll'
5.u1J.+ll" I I" !],,- "I)"''''' .01 'II' ,01,,' 1'"1 n,,,: ,,1'"'''1''' hi. 1-0" I ,.01 -, n, ,tl...,. III 'Ih, .1, for -,111"'<1011" ,II' , "I", Research of land sales In the SUbl8Ct area and aODralser'.;;;~koowledqe
01 tl18 local real estate markelln the subiect area
~-~';~""~':~~ll nl~~-I~I~()rH Il'T10N (lIt fXlRLPL 4,('H...1FNT r'OST NE\\ () NI()I\; () SITr: V.\!.t1f
Marsh 11 & Swifts V I n rvl e FI I',
(IlI,IIII\' r:\I\I1" from l'llS!:-.t: Effcd'Vl'd It: (If cn'l ala 3/2006 I 1(1
105
25
120 QQQ
235.410
168!1!l
-li.QQ.Q
The rice er s uare foot includes all built-in amenities as er the Marshall's and Swift's (iara!.':c,"Car orl S, ft (1/
VAluation Service ' nf(ml_N '\\
rhv,lcal IrUI1ClllllwL--.h:,rClll<11
)c lrt: 'l"1lt:d 1St oflrn' UI't:lll(':1 I~
~ ,
- 'I
,
267,210
I
See Attached Sketch r or DllnenslolIs
It is not uncommon for land values 10 exceed 30%
~ 28,000--,
. 2J21Jil
~~~
J10.210
LSIIITI~,I<:d \-\0111111\' r>brket [<,"niNjA
INCOME APPHOACIJ TO \ ALlJE 11101 r<""ired h, Fallllic Mac)
:\ (j!\JS' Rt:1l1 MU[llnlrL' NfA '\; N/A 1w.J.ll.:lU(,:J \';du\: tw 111\:1)1Tl~ '\I1IH();ICh
,,_ "". \1'l'r "'I'll I " .10"1,,,,, -:'II'I",rl fm m-1rl','1 r ,,,I'm I r;u M 1 The mr.ome aooronch is not utilized as sinale family homes are not tvoicallvJ)1!f.ct1.asec! fOl income
IqllC: dcu.II'I'l'I.:hlllllkt 1!l.!.:1)\l!lul utll1\.' I rUl1lC()\\'ll 'r< Assot'!,\llOl1 HOt '\ll;IChc:d
l'If,' Iii - tll' j'"II"w'11" III I >"'"'011 III 1<>1 rll/)~ (1\;1 \' Ii III
rI ,\,(.Irll)('rihll.ld,,[' I~ '1\ ,-"ntr,,1 nfllw HI );\ ',"d rll - ~lIhll"'t pr"p"rI}' i, '," '111'l -h .d dWt.jj "" r nil
ICI,;II N;IIII~' Uflll!lIccl
L.u.1Ll!!tl_lL!~\I..L1~_____,_.___
JOI,\llIlllllh<:lofulll"'-
Tolall1l1lllhL'f uf 1Iltll_ :-.uld
l..uLUllUluL.:.L'O! ILl\)I~ ,.','1.,,1._______,____ ,,___
Nu IfYo.;s I to.; , Clill\'CfSIOll
If No l,sTihcslallls~.1illl!~ll.'llL
2!01~!Ul!!llLk:k!ll~l1.!.:'_J:,:iL~\lJ~) \>1 h\ the Illl!I)<:lIwIH.:r~' '\s:-'('l'ralr'li1"
II Y~'\ Icscrlhc Illl' rCllla[ l<.:rlll' dod" '1"'""
I'J,', '1'1,
'11-11' ,r... II I ['.-,'r iI I11l,1I h dill "
I H'lill\,' ~I ;Il I "r III III 1\'1<\1\ Ii -_)IIII,~
I\I[!L' -, off1
1:lIllJi-.' ,\LIL' rUlfll I ()Il--l ~\LII,1i ~IJ(J~
Uniform Residential Appraisal Repan
flL
6"1618
TIlls report fOI m i;.; designed to rep0l1 an appraisal of J one-unit property or a one-unit propcl1y with (In Jccessory unit;
including a lIlllt In J planned UI1l1 development (PUD). This repol1 form is notdcslgneu to report an appraisal ofa
manufactured hUII1!.: or a unit in a condominium or cooperatl\'e project
rhis appraisal repot1 is :;ubjcct tn the following scope of work, Intended use, intended user, definition of market value.
statement of i:\ssurnptions nl1d limiting conditions, and certifications. Modifications, additions, or deletions to the intended
use, intended user, defillltion of market value, or assumptiOns and limiting conditions are not permitted. The appraiser may
L'xpand the scope of wurk to include any additional research or analysis necessary based on the complexity of this appraisal
assignment. ModIfIcations or deletions to the cel1ifications are also \lot permitted However, ~Iclditi()nal certifications that Jo
not constitute lllJtcrial alteratiolls to this appraisJI rep0l1, such as those required by law or tllUSC related to the appr8.is~r's
cOlltllluing educatioJl or membership in an aprraisal organization, are permitted.
SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and thc
reponing requirements of this appraisal repm1 form, lllcluding the following definition of market value, statement of
assumptions and limiting conditions, and cel1ifications. The appraiser must, at a minimum: (]) perform a complete visual
inspection ofthe interior and exterior lueas of the subject property, (2) inspect the neighborhood, (3) inspect each orthe
cOlnparable sales hOJ11 at least the streeL (4) research, verify, and analyze data from reliable public andior private sources,
and (5) repOrllllS 01 her analysis, opinions, and conclusions in this appraisal report.
INTENDED USE: The intended use of this appraisal report is for the lender/client to evaluate the prope-ry that is the
subject ofthi~ appraisl:ll for a mortgage fuulIlce transaction.
l!\'Tl~NDED USER: The intended user of this appraisal repOt1 is the lendericlient.
DEFINITIOI\' OF MARKET VALliE: The most probable price which a proper1y should bring in a cOmpelltive and oncn
market under all conditions requisite to a fair sale, the buyer ~lld seller, each acting prudently_ knowledgeably and assuming
the pilec is 1I0t affected by undue stimulus. Implicit intliiS definition is the consummation of a sale as Db speeitied dale and
tlie passing oftitk from seller to buyer under conditions whereby: (I) buyer and seller are typically motivated: (2) both
parties are well inf(lllned or well advised, and each acting in what he or she considers his or her own best lJ1terest; (3) a
reasonable time is allowed for exposure in the open market; (4) payment is made in tem)s ofeash in U. S. dollars or in tcnns
of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the propet1y sold
unaffected by special or creative financing or sales concessions' granted by anyone associ<lted with the sale.
~; Adjustments to the comparables must be made for special or creative tinancing or sales concessions. No adjustments art::
necessary for those costs which arc normally paid by sellers as a result of tradition or law in a market area: these costs are
readily ldemiflable since the seller pays these costs in virtually all sales transactions, Special or creative financing
adjustments 1:;\1' be made to the comparable propet1y by compansons to financing terms offered by a tllil'd party institutional
It:llder that j-. 0;)1 :llrcady involved in the property or transaction. Any adjustment should not be c3.lcuL..\tcu UIl a mechanIcal
dollar for clc!L.tr I'ust of the tln,lllcing or COllcc~;..,ion hut the dollar amount of allY adjustment should ap[1roxllTlute the mar~el's
rCllCtion to tlte fii];!!)cin!! or concessions based on the appraiscr's.!udgmcnt.
STATEMENT OF ASSUMPTIONS AI\'D LIMITING CONDITIONS: The ilppra"cr's ccrtliieiluon rn tlm replli1 r
subtect to tlte followltlg assumptions and limiting condillOns:
I. The appmiser willllot be responsible for matters ofa legal nature that aHect either the propei1y being appl'aised or tlte title
to it, except I'or information that he or she became aware of duriug the research involved in peli'lItl11ing tit is appraisal The
appraiser aSSUlIleS that tlte title is good and ll1"rketable and will not render any opinions about the title.
2. The appraiser has providcd a sketch in this appraisal repoi1 to show the approximate dimeusions of the improvements.
The sketch is uleluded only to assist the reader in visualizing the propet1y and understaridiug the appraiser's dcten11lnation
of its size.
3. The apprellscl has examined tlte available flood maps that are provided by the Federal Emergency Management Agency
(or lItlter data sources) alld has noted in this appraisal report whether any portiOn of the sub.!ect site is locatedlli all
identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or sbe makes no guarantees, express or
implicd, regarding this determination.
4 The appraiser will not give testimony" or appc:ar ill court because he or she made all appraisal urIlle prn[1cny ill question,
ullil'ss sJx.~ciric arrallge11l~nt:-; to do ~u have heen made beforeband, or as otherwise requirl,;d by 1:'1\\'.
). The appraiser hJS noted in this appraisal rep0l1 any adverse COIH.lilions (sLlch as needed repairs, deterioration, the
presence of hazardous wastes, toxic Stlb~,tances. etc.) observed during the inspection of the subject property or that he Ot
sIll' became aware of during the research involved in pcrforrning this appraisal. Unless othenvise stated in this appralsa\
Icport, the lipprlliSel ha, no knowledge of any hidden or unapparent phySical dcticiencies or adverse ellnditions or the
property (such as, but not limited to, needed rcpair~, deterioration, the presence of hazard ow'; wastes, toxic substances.
adverse environmental condItions, ete,) thai \vmlld 1l1ake the property less ntlu<lble, and has assumed that there arc no such
l'unclitions and makes no guarantees or warranties, express or implied, The appraiser will not be responsible for allY sllch
conditions th(jt dn exist or for any engineering or testing that might be required to discover whetlH:r such conditions l;xist,
Gecause the appraiser is 1I0t all expert in the licld of environmental hazards, this appraisal repoi1 must lIot be considered as
an environmental assessment of the property.
fl, The appraIser has based his or her :.Ippraisal rep011 and valuation conclusion for an appraisal thai i~ ~llb.iecl to satisfactory
cOlllpletioll. reperirs, or alterations 011 the assolllptiOll that tlte cOlllpletion, rep,"rs, or alteratillns ortlte subject property will
he pL'rfOf'lllCd in ,I professionalm'-lnner
I'Cddll' ~\ac I ('1111 ill
~ III I ~
I',ig~' -1 I,f (
! ;1II11t(: ~I;.L I ; lIlL ~ 1III1 \Llrel Jill]:'
Unil(lrnl Residential Appraisal Report
6/618
APPRAISER'S CERTIFICATION: The Appraber eelilies and agrees that:
I 1 have, at a minimum, developed and reponed this appraisal in accordance with the scope of work requin:mems st3teu In
tillS apprlnsal repor1.
c. I perillllned a completc visuallllspeetion of the interior and exterior areas of the subject propel1y. I reported the condition
oflhe improvcments in factual, speciilc terms. I idel1liiled and reported the physical deficiencies that could affect ti,e
livabilrty. soundness. or structural integrity of the propcrty.
3. I pcrformed this appraisal in accordance with the reqnlrements of the Uniform Standards of Professional Appraisal
Praclice that were :,dopted and promulgated by the Appraisal Standards Board of The Appraisal foundation allll that were in
rl..1cc at Ihe timt' this appraisal rep0l1 was prepared.
4. I developed my opinion of the market value of the rcal property that is the sublect of this repolt based 00 the sales
comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach
illl' tillS appraisal assignment. I further certify that I considered the cost and mcome approaches to value but did not devdup
them. unless otherwisc IIHlrcatedln tlris repon.
5. I researched. yerilied, analyzed. and reported on any current agreement for sale lor the subject propeny. any offering for'
sale of the subject property in the twelve months prior to the eHcctive date of this appraisal, and the prior sales of the subject.
property tor a minimum of three years prior to the effecllvc date of this appraisal, unIess otherWise indicated in this rcpor1.
6. I researched. ventied. analyzed. and reported on the prior sales of the comparable sales for a minimum of one year prior
to the elale of sale of tbe comparablc sale, unless otherwise indicated in this report.
7. I selectccl ancl used comparable sales that are locationally. physically, ancl functionally the most similar III the subject property.
S. Ilrave not used comparablc sales that were the result of combining a land sale with the contract purchase price of a home that
has been built or will be built on the land.
Y I have reported adjustments to the comparable sales that rellect the market's reaction to the diiferences between the subject
property and the comparable sales.
10. I verified, from a disinterested source. all information in this report that was provided by panics who have a lInaneldl interest In
the sale or ilnancing of the subject property.
II. I have knowledge and experience in appraising this type of propeny in this market area.
I c. 1 am aware of. and have access to, the necessary and appropriate public and private data SOUfees. such as multiple listlllg
st:rviccs, tax assessment records, public land records and other such data sources for the area in which the propt:ny is located
13. I obtained the Information, estimates, and oplnion5 furnished by other parties and expressed III this appraisal reI' on from
relrable sources that I beheve to be true and correct.
14. I have taken intu consideration the factors that have an impact on value with respect to the subject neighborhood, subject
property, and the proximity of the subject propeny to adverse innuences in the development of my opinion ofmarkel value I
have noted in this appraisal report any adverse conditions (sucb as, but not hmitcd to, necded repairs, deterioration, the
presellce of hazardous \vastes, toxic substances, adverse environmental conditions. ete.) observed during the inspection ufthe
subject propelty or that I became aware of during the research involved in performing this appraisal I have considered tbese
adverse condillons in my analysis of the property value, and have reportcd on the effect of the conditions on the value and
marketabrllty of the subject property.
15 I have not knowingly withheld any signific:lIlt information from this appraisal report and. to the best of my knowledge. all
statements and information in this appraisal report are true and correct.
16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclUSions. which
me subiect unly to the assumptions and limiting conditions in this appraisal report.
17. I have uo present or prospective interest in the property that is the subject of this report, and I have no present or
prospective personal interest or bias w1th respect to the participants in the transtlction. I did not base, either p~rtlJlly or
completely, my analysis and/or opmion of market value in this apprarsal report on the race, color, religion, sex. age. mariwl
stat us, itandieap, famili al status, or national origin of either the prospective owners or occupants of the subject pruperty or 0 I' the
present owners or occupants of the properties in the viCinity of the subject property or on any other basis prohibited by lcl\\.
I S. My elllploYlllent and/or compensation for performing tillS appraisal or any future or anticipated appraisals lVas not
conditioned on any agreement or understanding. written or otherwise. that I would report (or present analysis supporting) a
predetermined specific value, iJ predetermined minimum value, a range or direction in value, a value that 1~l\'ol's the cause of
UllY party, Dr the attainment of a specific result or occurrence ofa specific subsequent event (such as approval or a pending
mOl1gagc loan applicatioll).
I 'J. I personally prepared all conelus""ls and opinions about the real estatc that werc set forth in this appraisal repon. If I
relred on signil"eant real propelty appraisal assistance from any individual or individuals in the peril)rrnallce of this appraISal
or the preparation of tit is appraisal report, I have named such IIldividual(s) and disclosed the specific tasks perfurmecl in thIS
appraisal report. I certify that any individual so named is qualified to pert()[11l the taSks. I have not authorrzed anyone to make
a change to any item in tillS appraisal report; therefore, any change made to this appraisal is unauthonzed and I will take no
responsibility for it.
20. I identified the Icnder/client in this appraisal report who IS the individual. organization. or agent for the organizatiol' thai
ordered and will receive this appraisal rcpC)!1.
!rnldlt' r-b( iI'rlll 711 :'\Iilfdl :)I)(J~
I'ag(:; (Jj(,
ri!lIlll<;
Unifom1 Residential Appraisal Report
fll..:
67618
21 The lender,/cli~llt lTl<.l)' disclose or distribute this appraisal report to: the borrower: another lender at the request of the
borrower: the mortgagel: or its successors and assigns; mortgage insurers: government sponsored enterprises; other
SCUJIllIary' markeT pal1icipants; data collection or reporting services; professional appraisal organizations; allY department,
agency. or instrumentality of the United States; and any state. the District of Columbia. or other Jurisdictions; without having to
obtain the arrralSer's or surervisory aprraiscr's (if applicable) consent Such consent must be obtained before thlS appraISal
repol1may be disclosed or distrihuted to any other pal1y (including, but not lin1ited to, the public thruugh advertising. public
relations, news, sales, or other media)
22. I am aware that any disclosure or distribution of this appraisal report by me or the lender/client may be subject to certain
la\\'s and regulations. Further, I am also subject to the provisions of the uniform Standards of Professional Appraisal Practice
that reI1ain to disclosure or distribution by me.
23. The horrower. another lender at the request of the borrower, the mortgagee or its Sllccessors and assigns, mortgage
insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part
orall)' mortgage finance transaction that involves anyone or more of these panies.
24 If this appraISal report was transmittcd as an "electroIllc record" containing my "electronic signature." as those terms are
defllled ill applicablc federal and/or state laws (excluding audio and video recordings). or a facsimile transmISsion of tillS
appraisal report contallling a copy or rerresentatlOn of my signature, the arpraisal rerOli shall be as cffc,clive, enforceable and
VJlid as if a paper version of this appraisal report were delivered containing my original hand written signature.
25. Any intentional or negligent misrepresentatioll(s) contained in this appraisal report may result in civilliahility and/or
criminal renalties including, but not limited to, fine or imprisonment or both under the provisions of Title 18, United States
Code, Section 100 I, et seq., or similar state laws.
SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that:
I I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree witb the appraiser's
analysis, opinions, statements. conclusions, and the appraiser's certification.
2. I accert full resronsibility for the contents of this appraisal rerort including, but not limited to, the appraisers analysis, opinion
statements, conclusions, and the appraiser's certification.
3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the
appraisal finn), IS qualified to perform this aprraisal, and is acceptable to perform this appraisal under the arrllcable state law.
4. This appraisal repoli complies with the Uniform Standards of Professional Appraisal Practice that were adopted and
promulgatcd by the Appraisal Standards Board ofThc ArpraiS<11 Foundation and that were in place at the time this appraisal
fCJH'ri 'vas prepareu.
.~ I: Ih;s arpmlsal repolt was transmitted as an "electronic record" containing my "electrolllc signature," as those tern"s arc
dclined in applicable federal and/or state laws (excluding audio and Video recordings), or a facsimile transmiSSion of thiS
appraisal report containing a copy or representation of my signature, the appraisalleport shall be as effective. enforceable and
valid as if a paper verSion of this arpraisal report were delivered containing my ongmal hand written signature.
APPRAISER
SUPERVISORY APPRAISER (Oi'OL Y IF REQUIRED)
~,1Il11' _Billie K Lukacs
(\!flljJilI\Y N<lllll' Frank G, Riess Appraisals
('OIllP;lIlY I\dd!~s\ 13.Q.Q Route 9D PO Box 450
Huqllsonvllle NY
"I dc:plwnc Numbcl 845-298-2495
I'.lllal\ J\l.!drt;SS rI8ssappraisals@verlzon.net
Ilall: OJ'Sigll<llUfC ,llll] Repofl 11/26/2007
Ltlerllvr [)<Ik 01 Appl",\i~al 11120/200/
Slak" CertlfleJliun" 45000028874
{if
Slgnalurr ,)
Name Frank"G Riess. SRA
COf1lll<lIlY Nalllt Frank G, Riess Appraisals
C'olnpllllY .'\tldrL~s 2366 Route 9D PO Box 450
Huqllsonvtlle NY 12537
IdL'phull<: Numbcr 845-298.2495
Llll<lil AJJress riessaopraisals(Q)verizon,nel
Oak 01' Slgnallll'l: 11/26/2001
Stall' CCrllflealion t 45000003342
SlglHlllIlC
.........t'~, (~ )1
::r":
,,-
/
'~ ..><l:::;:~~_'_"_"_"1
12537
or Sl;lk Liccnse;!
Slilll'r
S1<IlC NY
ExpiratltJn Dal<; of Cl'rllfieallOll ur LlrL'ns~: 09J1-1/2009
lJl SI;lh; Liccllsr t!
01" Utile I (Jc,cnlwl
:--'1;llc NY
Lxpir;1l1l111 [)Jll' tJfC<;rl\fll:<IIIUI) (,r Licellsl,03/11/2008
APUIU"SS or P!HJI'LlUV i\f'I'HA1SED
1/3 Cider Mill Loop
Wapplnqers F ails NY
12590
SlILlllXT PRUPERTY
0DI(J \lot JIl~pt:CI SUUJeCI pru\-,crly
[Jnit! il1~pcn t:xkriuf ()t~uhl<;rt prupci'ly fro!l) :HIL'cl
DJll' of IIL~p<;cli()n
356000 DnltllllspnlllllCfwl .!Ill! CXI<;f\U! ufsuhJCl'l prupL'r1\
I)al..: of' IIlSpccttllll
t\I'I'lt"\ISLU V!\\.UL UF SUBJECT PIWPERT'r' S
I.EN [ll:]{..c'LI LN"!
N;lIIll
Cmllll:IIlY N<lllle Hudson Valley rederal Credit Union
COlll!l,\I1)" AJdrc;~ 1 b9 BarneQat Road
PouQhkeepSle
NY
8Jn',\Rt\liI.LS,.\lLS
X Did !]Ill IIl~PC(1 e:\!l;rtol' pI lOl1lparilhk ~;lk.. fr"llI SIILC!
Did lllsp<;I,:Il:.\(<;rlOr IlfCllmpiH'-lok sa!.:" ifOl11 strcel
Dale oflnspl.:cliol\
12601
__J
1,I1I;iiJ AdJfl:~
hctldll.; _~Ltl l~l'll\l 71) ~\"ldll'l1 ~\HI)
l'.iJ:!.<: (, off>
1.,\11111,: 0.\J..: )'urm Itlll..! \I:I[L"L .'llil-,
TEXT ADDENDUM
Borrower: Janos
Property Address: 123 Cider Mill Loop
City: Wappingers Falls Slate: NY
Lend~r Hu~sor1YCl~E3y-,=-ederal Credit Union
County: Dutchess
Zip Code: 12590
File No. 67618
-1
I
---~--- j
The subject property is slightly more valuable than the predominant value of the typical neighborhood home, however it is not considered
an over-improvement
The lack of curbs, gutters, sidewalks and/or street lights is typical for the neighborhood and does not adversely Impact marketability
The property's heating. plumbing and electrical systems appear to be functioning properly to the best of the appraiser's knowledge and
expertise.
It was necessary to utilize sales located over one mile from the subject property Dutchess County neighborhoods can span a great
distance. All comparables are from the same market area and are considered the best available.
The neighborhood is certainly more characteristic of a suburban neighborhood than a rural neighborhood, thus it is considered suburban
for appraisal purposes
Please be advised that in the market approach grid, bathrooms are adjusted for on the first line and gross living area/room count are
adlusted together as a single adjustment on the second line
The comparable sales utilized in the report have minor amounts of personal property included in their conveyance The personal
property is considered to be so insignificant that its conveyance had no impact on the com parables' sale prices. No adjustments could be
extracted from Hie market for any personal property conveYing with the comparable sales, thus no market adjustment is considered
appropriate to the comparable sales for personal property in their conveyance. (See FMNA announcement 86-23 dated 10/23/86 and
FHLMC bulletin Volume 1, section 2215 of the Sellers' Services Guide dated 4/24/86 effective 7/1/86.)
The adjustments for site size are based on market abstraction and contributory value, Above a certain point each additional Increment of
land area contributes less on a per acre or per square foot basis than the initial minimum site size for the area, thus a constant dollar per
acre or square foot adjustment was not utilized. This concept relates to diminishing marginal utility. All physical factors of the subject
and comparable sites have been weighed in arriving at site adjustments or lack thereof
All comparables are similar and support value welL
Unless otherwise stated in this report, the existence of hazardous material, which mayor may not be present on the property, was not
observed by the appraiser. The appraiser has no knowledge of the existence of such materials on or in the property. The appraiser,
however, is not qualified to detect urea-formaldehyde foam insulation, or other potentially hazardous materials that may affect the value
of the property Tile value estimate is predicated on the assumption that there is no such material on or in the property that would cause
a loss of value No responsibility is assumed for any such conditions. or for any expertise of engineering knowledge required to discover
them The client IS urged to retain an expert in this field, if desired
Every effort has been made to conform to FNMA, FHLMC and FHLBB Guidelines and in most cases, an even stricter interpretation found
common to most Investors in the secondary market The comments in this addendum are intended to expand on what the appraiser
feels are areas of most concern to mortgage investors in underwriting an appraisal report. The expanded narrative allows the appraiser
to provide additional comments where sufficient space is not available on the appraisal form. The market has been thoroughly searched
and the sales reported are in the appraiser's opinion the best sales available that property weigh the four major elements of comparison.
Indicated value by income approach is considered not applicable. There are typically not enough rentals of homes in this price range to
develop a multiplier
The price pei gross liVing area is developed by dividing the sales price by the gross living area of the house. It does not take into
consideration any of the IIldlvldual adjustments made to each comparable and IS therefore an unadjusted indicator. The number will vary
by lot size. size of Improvements, location, and condition of improvements As per Marshalls and SwifL the larger the improvements, the
smaller the cost per square foot
The percentage of vacant land IS typical for the area and if anything has a positive effect on the value
The appraisal assignment was not based upon a required minimum valuation, specific valuation. or the approval of a loan
The improvements on the subject property comply with general zoning requirements. No search has been made to determine if all
necessary permits or variances were obtained. The appraiser has assumed that all title searches and variances were obtained
The appraisal and appraisal report were made in conformity with the appraisal standards set forth in the Federal Reserve Board
Regulation titled Appraisal Standards for Federally Related Transactions which includes: (1) the Uniform Standards of Professional
Appraisal Practice and (2) additional standards of the board
Billie K. Lukacs
November 20. 2007
SKETCH ADDENDUM
Burrower Janos
I IJ UpL:n~ ;\ddrl'~" 123 Cider Mill Loop
Cil\ Wappmqers Falls County
Lcndcr:(Jicll\ Hudson Valley Federal Credit Union
BR
3900'
BR
CL CL
BR
1500'
Family Room
[;J
~
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Dutchess
SWtc ~_Zlp Code
27.00'
h~
_i~t.",
~
3900'
BR
27.00'
27.00'
20.00'
28.00'
Dining
RM
1600'
700'
2400'
SKETCH CALCULATIONS
A1 27.0 x 15.0 0
A2 7.0x 16.0~
First Floor
A3 24.0 x 28.0 0
Second Floor
A4 270 x 390 0
Third Floor
Total Living Arca
hie No 67618
~----
Area
405.0
112.0
517.0
672.0
6720
1053.0
1053.0
2242.0
SUBJECT PHOTOGRAPH ADDENDUM
67618
BonOWCl ~
Pr(lpcTty:\ddrcso., J23 Cider Mill Loop
Cit~ ~er.s Falls Coullty
LCl1dcr'CJicll1 Hudson Vallev Federal Credit Union
~~
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Dutchess
SLate ~llp Coue
I'ROl\T OF
SUBJECT PROPERT'{
REAR OF
SUG.JECT PROPERTY
STREET SCENE
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.\ Idress 123 Cider Mill Loop (Olillt\' Dutchess
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------: . Hudson_
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COM PARABLES PHOTOGRAPH ADDENDUM
67618
Bom)\\,t.'f Janos
Prnpcrry Addrcs~ 123 Cider Mill Loop
ell\' Wappinqers Falls County
i .L'lHkriCl1cnl Hudson Valley Federal Credit Union
State ~Zjr emit
Dutchess
12590
COMPARABLE SALE # 1
3 Top 0 Hill Road
Wappinger F ails, NY
Dale orSak 1012312007
Sale Pnce 345,000
Sq. Ft 2.294
$ / Sq Ft 15039
COMPARABLE SALE # 2
62 Wright Boulevard
Hopewell Juncllon, NY
Date or Sale 1011512007
Sale Price 310,000
Sq 1'1 2,022
S / Sq. 1'1 182.99
COMPARABLE SALE # ~
2 Grace Coun
Wappinger F ails, NY
Date "I' Sale 1010912007
Sale Pile' 385,000
Sq. 1'1 1.846
,/ Sq. 1'1 197.72
rr ENCOMPASS.
INS U RAN C E
HOME PROTECTION
(Coverage applies only if a premium or limit is shown)
Residence 1 Description: 123 CIDER MILL LOOP, WAPPINGERS FALLS, NY 12590
1~lgllllilii.J.t~~itI1ii~ll~i~lli~.iil~~~~:~X~<':':;~{-~: . ~
PROPERTY LOCATION LIMIT
The property location limit is the sum of the individual limits of your
dwellin ,tan ible P'~.=.~~~~y and other structures for this residence.
stimated Residence Value of $ 225,200
.;~ ~~t~ ~it~W"ifqf.ii li~~m~.~
" ~~ ~Ym~AB'!'zd" "~",~~.N.,J&r{7
$ 405,840 $ 640.00
$ 500
$ 225,200 $ Included
$ 23,000 $ Included
$ 157,640 $ Included
Per Policy $ Included
$ 500,000 $ Included
$ 5,000 $ Included
Per Policy $ Included
$ 640.00
Dwelling (100% of estimated residence value)
Other Structures (10% of estimated residence value)
Tangible Personal Property (70% of estimated residence value)
LOSS OF USE
PERSONAL LIABILITY
MEDICAL EXPENSE
PERSONAL PROPERTY REPLACEMENT COST
Total Residence Premium
215915717
'50000NY071114030041100000000007005'
Ii~ .~
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. ,
Continued on Next Page
Page 05 of 08
OvU'O'fJ~.:tCfCJ
NYS BOARD OF REAL PROPERTY SERVICES COMPLAINT ON REAL PROPERTY ASSESSMENT FOR 2008
t
DUTCHESS COUNTY REAL PROPERTY TAX SERVICES AGENCY SALES PRICE DA TA
SUMMARY - SALES PRICE DATA
SPLIT LEVELS - 4 BEDROOM - 2.5 BATHS - BUILTIN THE 1960'S - LESS THAN 1 ACRE
SALES SQFT YEAR FULUHALF
SALES DATE PRICE LIVING BUILT BEDROOMS BATHS TOWN SCHOOL DISTRICT
3/23/2006 380,000 2254 1964 4 2/1 WAPPINGER WAPPINGERS
4/6/2006 344,900 2236 1960 4 2/1 POUGHKEEPSIE WAPPINGERS
5/17/2007 347,000 1856 1973 3 1/2 WAPPINGER WAPPINGERS
5/19/2007 269,900 1325 1960 3 1/1 WAPPINGER WAPPINGERS
7/12/2007 340,000 2464 1966 4 3/0 POUGHKEEPSIE WAPPINGERS
8/8/2007 360,000 1923 1960 4 2/1 POUGH KEEPSI E WAPPINGERS
8/30/2007 308,000 1969 1960 4 2/1 POUGHKEEPSIE WAPPINGERS
9/9/2007 315,000 1872 1965 4 2/0 POUGHKEEPSIE WAPPINGERS
10/5/2007 375,000 1846 1983 3 2/0 WAPPINGER WAPPINGERS
11/14/2007 320,000 1924 1976 4 2/1 POUGHKEEPSIE WAPPINGERS
11/30/2007 340,000 1898 1980 4 2/1 EAST FISHKILL WAPPINGERS
TOTAL 3,699,800
AVERAGE 336,345
Jim Janos
123 Cider Mill Loop
7/17/2008
. .
http://geoaccess.co.dulchess.ny . us/parcelaccess/parcelaccessrescompsearch.asp?mun 1= 135...
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Acreage
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Year BUill
Bedrooms
School District
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Grade
Condition
5/19/200715016 PM
$269900
Spill level
027
1325
1960
3
Wapplngers Cen Schls
No
1/1
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Nurmal
~____c~__~____=~_____~_________________________________________~________~__~____=__________
5/17/2007 11' 54 06 AM
$34/000
Spirt level
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1973
3
Wapplngers Cen Schls
No
1/2
1
Average
Normal
~-----------=-----------------------------------------------------------------------------~
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6757.03-268482-0000
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Sale Price
BUilding Style
Acreage
Sq Ft living Area
Year BUilt
Bedrooms
School District
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Grade
Condition
4/6/200633544 PM
$344900
Spilt level
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1950
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Wapplngers Cen Schls
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Wappinger
6~57 -04-708479-0000
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Bedrooms
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11 Oak Bend Rd
PoughkeepSIe
6159-02-934776-0000
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Sales Date
Sale Price
Building Style:
Acreage
Sq Ft Livmg Area
Year BUilt
Bedrooms
School District
Central Air
Full I Half Bathrooms
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Grade
Condition
301 Pine Ridge Or
Wapplnge(
6257 -04-599203-0000
3/23/20063'3700 f'M
$380000
Split level
081
2254
1964
4
Wappingers Cen Schls
Yes
2/0
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11/3012007 11 2817 AM
$340000
Spilt level
1 15
1898
1980
4
Wapplngers Con Sohls
No
2/1
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Average
Good
24 Sco,Jstl;:m Ct
East FIShkll1
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Sq Ft. livlOg Area
Year BUill
Bedrooms
SChOOl DIstrict
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Stories
Grade
Condltron
11/14/200710553] AM
$320000
Spilt level
033
1924
1976
4
WapPlngers Cen Sohls
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2/1
1
Average
Norm<ll
3\1 Rrooklands ~- arm Rd
Poughkeepsie
li159-1J2 li22717 -0000
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8/30/200735845 PM
$308000
Split level
034
1969
1960
4
WapPlOgers Cen Schls
No
2/1
1
Average
Normal
N 20 Jilckson Or
Pouqhkeapsle
6159-04 9f)(,363-0000
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Grade
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$360000
Spill level
042
1923
1960
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Wapplngers Cen Schls
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2/1
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Normal
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Poughkeeps:B
0159-04-%4388-0000
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Condition
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$340000
Split level
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1966
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Bedrooms
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Full/ Half Balhrooms
Stories
Grade
Condition
7/9/200720615 PM
$315000
Split level
043
1872
1965
4
Wapplngers Cen Schls
No
2/0
1
Average
Normal
G Cleveland Dr
Poughkeepsie
6158-02~515896~0000
~-~--=---------=----------~~--~--=-----~----------------------------------------------=----
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Sale Price
Building Style~
Acreage:
Sq Ft. living Area
Year Built
Bedrooms:
School District
Central Air
Full/ Half Bathrooms
Stories
Grade
ConditlOn
10/5/200744931 PM
$375000
Split level
0.38
1846
1983
3
Wappingers Cen Schls
No
2/0
1
Average
Good
2 Grece C I
Wappinger
615702 ~930795~0000
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Acreage
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Year Built
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Full/ Half Bathrooms
Stories
Grade
Condition
5/17/200711:5406 AM
$347000
Spilt level
042
1856
1913
3
Wapplngers Cen Schls
No
1/2
1
Average
Normal
74 Scott Or
Wappinger
6257 -o~ 708479-0000
5/28/2008