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Fee Proposal for RFP No. 18-082 for On -Call Right of Way Property Appraisal Services 3 <br />2246 South Evergreen Street (Residential Full Take) <br />Upon award of this assignment we would request a copy of the notice of decision to appraise <br />sent out by the City and would then send out an owner notification letter, inviting the property <br />owner to be present for an inspection of their property. This letter would be sent via regular mall <br />and by certified mail (return receipt requested). We would schedule a time to meet the property <br />owner at the property and be available to answer any questions they have about the appraisal <br />process. We would ask them for any information they have that would be helpful In the <br />valuation process. Often property owners have strong sense of what their property Is worth, <br />and many have data that they want us to consider. <br />To develop an opinion of value for the subject as a full acquisition, we would value the property <br />to its highest and best use, as improved. In the case of the subject, this is likely, as improved to <br />a single-family residence (SFR). We would, however, confirm that the property is not worth <br />more as a redevelopment site. Assuming that the highest and best use Is for continued use as <br />an SFR, we would value the property using an improved sales comparison approach. Please <br />note that per California Eminent Domain Law, project influence is not considered in valuing the <br />subject. <br />The sales comparison approach would involve analyzing sales of comparable properties. <br />Factors of comparison that are important are conditions of sale, financing terms, market <br />conditions, location, access/exposure, land area, size of improvements, number of bedrooms <br />and bathrooms, quality and condition (age), and amenities such as landscaping, pool, etc, <br />Our appraisal will be prepared in conformity with USPAP, the Caltrans Right of Way Manual, <br />and the California Code of Civil Procedure. <br />Our fee to prepare this full acquisition appraisal is $3,500, and our timing Is four to six weeks <br />from engagement and receiving a copy of the notice of decision to appraise. <br />0 <br />