File No.

APPRAISAL OF

LOCATED AT:

CLIENT:

AS OF:

BY:

DICKINSON

SAUER APPRAISAL SERVICE LLC

KATHY E. SAUER

June 29, 2018

RICHMOND, VA, 23221

3717 PATTERSON AVE

MICHAEL DICKINSON

RICHMOND, VA 23221

3717 PATTERSON AVE

REAL PROPERTY

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 1 of 11
File No.

File Number:

In accordance with your request, I have appraised the real property at:

The purpose of this appraisal is to develop an opinion of the defined value of the subject property, as improved.

The property rights appraised are the fee simple interest in the site and improvements.

In my opinion, the defined value of the property as of is:

The attached report contains the description, analysis and supportive data for the conclusions,

final opinion of value, descriptive photographs, assignment conditions and appropriate certifications.

DICKINSON

SAUER APPRAISAL SERVICE LLC

KATHY E. SAUER

One Hundred Fifty Thousand Dollars

$150,000

June 29, 2018

RICHMOND, VA 23221

3717 PATTERSON AVE

DICKINSON

RICHMOND, VA, 23221

3717 PATTERSON AVE

MICHAEL DICKINSON

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 2 of 11
Individual Condominium Unit Appraisal Report File No.

The purpose of this appraisal report is to provide the client with a credible opinion of the defined value of the subject property, given the intended use of the appraisal.

Client Name E-mail

Client Address City State Zip

Additional Intended User(s)

Intended Use

PURPOSE

Property Address City State Zip

Owner of Public Record County

Legal Description

Assessor's Parcel # Tax Year R.E. Taxes $

Neighborhood Name Map Reference Census Tract

Property Rights Appraised Fee Simple Leasehold Other (describe)

SUBJECT

My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.

Prior Sale/Transfer: Date Price Source(s)

Analysis of prior sale or transfer history of the subject property (and comparable sales, if applicable)

Offerings, options and contracts as of the effective date of the appraisal

SALES HISTORY

Neighborhood Characteristics Condominium Unit Housing Trends Condominium Housing Present Land Use %

Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit %

Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $(000) (yrs) 2-4 Unit %

Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family %

Neighborhood Boundaries High Commercial %

Pred. Other %

Neighborhood Description

Market Conditions (including support for the above conclusions)

NEIGHBORHOOD

Topography Size Density View

Specific Zoning Classification Zoning Description

Zoning Compliance Legal Legal Nonconforming No Zoning Illegal (describe)

Is the highest and best use of the subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe.

Utilities Public Other (describe) Public Other (describe) Off-site Improvements—Type Public Private

Electricity Water Street

Gas Sanitary Sewer Alley

Site Comments

PROJECT SITE

General Description General Description General Description General Description Project Info

Data source(s) for project information

Project Description Detached Row or Townhouse Garden Mid-Rise High-Rise Other(describe)

# of Stories

# of Elevators

Year Built

Effective Age

Existing Proposed

Under Construction

Exterior Walls

Roof Surface

Total # Parking

Ratio (spaces/units)

Type

Guest Parking

# of Units

# of Units Completed

# of Units Rented

Describe the condition of the project and quality of construction.

Describe the common elements and recreational facilities.

PROJECT INFORMATION

GENERAL DESCRIPTION INTERIOR materials AMENITIES APPLIANCES CAR STORAGE

Floor #

# of Levels

Heating Type Fuel

Central AC Individual AC

Other (describe)

Floors

Walls

Trim/Finish

Bath Wainscot

Doors

Fireplace(s) #

Woodstove(s) #

Deck/Patio

Porch/Balcony

Other

Refrigerator

Range/Oven

Disp Microwave

Dishwasher

Washer/Dryer

None

Garage Covered Open

# of Cars

Assigned Owned

Parking Space #

Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade

Comments on the improvements:

UNIT DESCRIPTION

Page 1 of 4

This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.

(gPARTM) General Purpose Appraisal Report 09/2016 GPAR1073_16 09232016

Produced using ACI software, 800.234.8727 www.aciweb.com

DICKINSON

SAUER APPRAISAL SERVICE, LLC

ASSET VALUATION

NONE

3717 PATTERSON AVE RICHMOND VA 23221

MICHAEL DICKINSON MDICKINSON2112@GMAIL.COM

X

MOUNT VERNON CONDO RICH MLS 0501.00

W0001704014 2018 1,884.00

MOUNT VERNON CONDO UNIT 3717

DICKINSON MICHAEL R RICHMOND CITY

3717 PATTERSON AVE RICHMOND VA 23221

NONE

THE SUBJECT IS NOT CURRENTLY LISTED FOR SALE, 

NOR HAS BEEN LISTED FOR SALE IN THE PAST 12 MONTHS. THERE HAVE BEEN NO RECORDED TRANSFERS OF THE 

SUBJECT IN THE PAST 36 MONTHS.

X

GENERAL MARKET CONDITIONS APPEAR STABLE AT THE PRESENT TIME. VA, 

FHA, VHDA, AND CONVENTIONAL LOANS ARE AVAILABLE TO BUYERS IN THE SUBJECT AREA. INTEREST RATE BUYDOWNS 

AND ADJUSTABLE RATE MORTGAGES ARE TYPICAL FOR THIS AREA. TYPICAL MARKETING TIME IS ZER TO THREE 

MONTHS. THE CURRENT FIXED INTEREST RATES RANGE FROM 4.25 TO 7%.

THE SUBJECT IS LOCATED IN RICHMOND CITY. ALL MAJOR SUPPORT SYSTEMS INCLUDING 

RESTAURANTS, SHOPPING, SCHOOLS, BANKING AND MEDICAL FACILITIES ARE LOCATED WITHIN 2 TO 5 MILES.

EMPLOYMENT IS STABLE IN THE AREA WITH SUCH CLOSE PROXIMITY TO MAJOR RICHMOND AREA EMPLOYERS AND THE 

INTERSTATES.

VCNT 21

5

2

2

70

25

150

0

300

1,000

50

BOUND NORTH AND EAST BY THE HENRICO COUNTY LINE, 

SOUTH AND WEST BY THE JAMES RIVER.

X

X

X

X

X

X

See Attached Addendum

NONE

ASPHALT X

X

X

X

X

THE PRESENT 

USE DOES REPRESENT THE HIGHEST AND BEST USE OF THE SUBJECT.

X

X

R-53 SINGLE FAMILY RESIDENTIAL

MOSTLY LEVEL TYPICAL FOR THE AREA TYPICAL FOR THE AREA HOMES/AVERAGE

COMMON AREA MANAGEMENT, HOT WATER, POOL, SEWER, TRASH REMOVAL, AND 

WATER.

THE PROJECT IS IN AVERAGE CONDITION AND IS OF TYPICAL QUALITY OF 

CONSTRUCTION BASED UPON SIMILAR PROJECTS IN THE SUBJECTS MARKET AREA.

46

217

217

NONE

PAVED

1.1

1

CMP SHNGL/AVG

BRCK/AVG

X

19

1962

0

2

X

PUBLIC RECORDS

THE SUBJECT IS IN OVERALL AVERAGE CONDITION FOR A HOME OF THIS AGE. NO DEFERRED 

MAINTENANCE HAS BEEN NOTED. FUNCTIONAL UTILITY IS CONSIDERED AVERAGE WITH LARGE ROOMS AND ADEQUATE 

CLOSET SPACE. NO EXTERNAL DEPRECIATION HAS BEEN NOTED.

5 2 1.1 832

1

X

0

X

X P

X

X

X P

X P

X FNCE

NONE

X PATIO

NONE

NONE

6 PANEL SOLID/AVG.

CERAMIC/AVG.

WOOD/PNT/AVG.

DRYWALL/AVG.

CER/HW/AVG

X

FHA ELCT.

2

1

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 3 of 11
Individual Condominium Unit Appraisal Report File No.

FEATURE SUBJECT

Address

and

Unit #

Project Name and

Phase

Proximity to Subject

Sale Price $

Sale Price/Gross Liv. Area $ sq. ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

HOA Mo. Assessment

Common Elements

and Rec. Facilities

Floor Location

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade Total Bdrms. Baths

Room Count

Gross Living Area sq. ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

COMPARABLE SALE NO. 1

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

COMPARABLE SALE NO. 2

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

COMPARABLE SALE NO. 3

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

Summary of Sales Comparison Approach

Indicated Value by Sales Comparison Approach $

SALES COMPARISON APPROACH INCOME APPROACH TO VALUE

Estimated Monthly Market Rent $ X Gross Rent Multiplier = $ Indicated Value by Income Approach

Summary of Income Approach (including support for market rent and GRM)

INCOME

Methods and techniques employed: Sales Comparison Approach Cost Approach Income Approach Other:

Discussion of methods and techniques employed, including reason for excluding an approach to value:

Reconciliation comments:

Based on the scope of work, assumptions, limiting conditions and appraiser's certification, my (our) opinion of the defined value of the real property that is

the subject of this report as of , which is the effective date of this appraisal, is:

Single point $ Range $ to $ Greater than Less than $

This appraisal is made "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed,

subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed subject to the following: 

RECONCILIATION

Page 2 of 4

This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.

(gPARTM) General Purpose Appraisal Report 09/2016 GPAR1073_16 09232016

Produced using ACI software, 800.234.8727 www.aciweb.com

DICKINSON

SAUER APPRAISAL SERVICE, LLC

ADD FEATURES FENCE

FIREPLACE NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

30.00 832

4 2 1.0

DEFF MAINT.

56

DATED

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

0.00

N/A

MOUNT VERNON CONDO

3717

RICHMOND, VA. 23221

3717 PATTERSON AVE

18.9 156,500

-18.9

X 36,500

FENCE

NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

823 0

5 2 1.1 -1,500

0

OVERALL AVG. -25,000

56

UPDATED -10,000

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

06/08/2018

DOM 04

CONV

RAR MLS #1816300

MLS/PUBLIC RECORDS

234.51

193,000

0.26 miles SW

N/A

MOUNT VERNON CONDO

D

RICHMOND, VA 23221

407 N HAMILTON ST

14.9 151,500

-14.9

X 26,500

FENCE

NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

884 0

5 2 1.1 -1,500

0

OVERALL AVG. -25,000

56

DATED

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

09/01/2017

DOM 04

COV

RAR MLS #1726937

MLS/PUBLIC RECORDS

201.36

178,000

0.03 miles SE

N/A

MOUNT VERNON CONDO

3715

RICHMOND, VA 23221

3715 PATTERSON AVE

16.1 138,500

-16.1

X 26,500

FENCE

NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

880 0

4 2 1.1 -1,500

OVERALL AVG. -25,000

56

DATED

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

10/11/2017

DOM 6

CONV

RAR MLS #1730462

MLS/PUBLIC RECORDS

187.50

165,000

0.26 miles SW

N/A

MOUNT VERNON CONDO

F

RICHMOND, VA 23221

407 N HAMILTON ST

150,000

See Attached Addendum

X

X 150,000

06/29/2018

See Attached Addendum

See Attached Addendum

X

Sauer Appraisal Service LLC

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 4 of 11
Individual Condominium Unit Appraisal Report File No.

FEATURE SUBJECT

Address

and

Unit #

Project Name and

Phase

Proximity to Subject

Sale Price $

Sale Price/Gross Liv. Area $ sq. ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

HOA Mo. Assessment

Common Elements

and Rec. Facilities

Floor Location

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade Total Bdrms. Baths

Room Count

Gross Living Area sq. ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

COMPARABLE SALE NO. 4

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

COMPARABLE SALE NO. 5

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

COMPARABLE SALE NO. 6

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

Summary of Sales Comparison Approach

SALES COMPARISON APPROACH

Additional Comparables

This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.

(gPARTM) General Purpose Appraisal Report 09/2016 GPAR1073_16 09232016

Produced using ACI software, 800.234.8727 www.aciweb.com

DICKINSON

SAUER APPRAISAL SERVICE, LLC

ADD FEATURES FENCE

FIREPLACE NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

30.00 832

4 2 1.0

DEFF MAINT.

56

DATED

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

0.00

N/A

MOUNT VERNON CONDO

3717

RICHMOND, VA. 23221

3717 PATTERSON AVE

19.2 153,500

-19.2

X 36,500

FENCE

NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

880 0

5 2 1.1 -1,500

0

OVERALL AVG. -25,000

56

UPDATED -10,000

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

06/21/2018

DOM 05

CONV

RAR MLS #1815733

MLS/PUBLIC RECORDS

215.91

190,000

0.27 miles SW

N/A

MOUNT VERNON CONDO

G

RICHMOND, VA 23221

401 N HAMILTON ST

19.5 151,000

-19.5

X 36,500

FENCE

NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

832

5 2 1.1 -1,500

0

OVERALL AVG. -25,000

56

UPDATED -10,000

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

01/12/2018

DOM 05

CONV

RAR MLS #1740147

MLS/PUBLIC RECORDS

225.36

187,500

0.03 miles SE

N/A

MOUNT VERNON CONDO

3723

RICHMOND, VA 23221

3723 PATTERSON AVE

30.3 151,900

-2.0

X 3,100

NONE 500

NONE

NONE 500

NONE

NONE

RADNT/W-UNITS 5,000

NONE

NONE

670 4,900

4 2 1.0

OVERALL AVG. -25,000

90 11,000

DATED

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$289.00

FEE SIMPLE

SUBRBAN/AVG.

12/05/2017

DOM 37

CONV

RAR MLS #1732607

MLS/PUBLIC RECORDS

231.34

155,000

0.85 miles SE

N/A

TUSCAN VILLAS CONDO

2

RICHMOND, VA 23220

513 N BOULEVARD

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 5 of 11
Individual Condominium Unit Appraisal Report File No.

FEATURE SUBJECT

Address

and

Unit #

Project Name and

Phase

Proximity to Subject

Sale Price $

Sale Price/Gross Liv. Area $ sq. ft.

Data Source(s)

Verification Source(s)

VALUE ADJUSTMENTS DESCRIPTION

Sale or Financing

Concessions

Date of Sale/Time

Location

Leasehold/Fee Simple

HOA Mo. Assessment

Common Elements

and Rec. Facilities

Floor Location

View

Design (Style)

Quality of Construction

Actual Age

Condition

Above Grade Total Bdrms. Baths

Room Count

Gross Living Area sq. ft.

Basement & Finished

Rooms Below Grade

Functional Utility

Heating/Cooling

Energy Efficient Items

Garage/Carport

Porch/Patio/Deck

Net Adjustment (Total)

Adjusted Sale Price

of Comparables

COMPARABLE SALE NO. 7

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

COMPARABLE SALE NO. 8

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

COMPARABLE SALE NO. 9

$

$ sq. ft.

DESCRIPTION +(-) $ Adjustment

Total Bdrms. Baths

sq. ft.

+ - $

Net Adj. %

Gross Adj. % $

Summary of Sales Comparison Approach

SALES COMPARISON APPROACH

Additional Comparables

This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.

(gPARTM) General Purpose Appraisal Report 09/2016 GPAR1073_16 09232016

Produced using ACI software, 800.234.8727 www.aciweb.com

DICKINSON

SAUER APPRAISAL SERVICE, LLC

ADD FEATURES FENCE

FIREPLACE NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

30.00 832

4 2 1.0

DEFF MAINT.

56

DATED

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

0.00

N/A

MOUNT VERNON CONDO

3717

RICHMOND, VA. 23221

3717 PATTERSON AVE

19.9 152,100

-19.9

X 37,900

FENCE

NONE

PATIO

None

NONE

FHA/CAC

NONE

NONE

880 -1,400

5 2 1.1 -1,500

0

OVERALL AVG. -25,000

56

UPDATED -10,000

CONDOMINIUM

HOMES/AVG

1

ASSOCITION

TRSH REMVAL

$248.00

FEE SIMPLE

SUBRBAN/AVG.

ACTIVE

DOM 08

ACTIVE

RAR MLS #1822206

MLS/PUBLIC RECORDS

215.91

190,000

0.26 miles SW

N/A

MOUNT VERNON CONDO

F

RICHMOND, VA 23221

403 N HAMILTON ST

0.0 0

0.0

X 0

0.00

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 6 of 11
Individual Condominium Unit Appraisal Report File No.

Scope of Work, Assumptions and Limiting Conditions

Scope of work is defined in the Uniform Standards of Professional Appraisal Practice as " the type and extent of research and analyses in an 

assignment." In short, scope of work is simply what the appraiser did and did not do during the course of the assignment. It includes, but is not 

limited to: the extent to which the property is identified and inspected, the type and extent of data researched, the type and extent of analyses applied 

to arrive at opinions or conclusions.

The scope of this appraisal and ensuing discussion in this report are specific to the needs of the client, other identified intended users and to the 

intended use of the report. This report was prepared for the sole and exclusive use of the client and other identified intended users for the identified 

intended use and its use by any other parties is prohibited. The appraiser is not responsible for unauthorized use of the report.

The appraiser's certification appearing in this appraisal report is subject to the following conditions and to such other specific conditions as are 

set forth by the appraiser in the report. All extraordinary assumptions and hypothetical conditions are stated in the report and might have affected the 

assignment results.

1. The appraiser assumes no responsibility for matters of a legal nature affecting the property appraised or title thereto, nor does the appraiser render any opinion as to the title, which is 

assumed to be good and marketable. The property is appraised as though under responsible ownership.

2. Any sketch in this report may show approximate dimensions and is included only to assist the reader in visualizing the property. The appraiser has made no survey of the property.

3. The appraiser is not required to give testimony or appear in court because of having made the appraisal with reference to the property in question, unless arrangements have been 

previously made thereto.

4. Neither all, nor any part of the content of this report, copy or other media thereof (including conclusions as to the property value, the identity of the appraiser, professional designations, 

or the firm with which the appraiser is connected), shall be used for any purposes by anyone but the client and other intended users as identified in this report, nor shall it be conveyed by 

anyone to the public through advertising, public relations, news, sales, or other media, without the written consent of the appraiser.

5. The appraiser will not disclose the contents of this appraisal report unless required by applicable law or as specified in the Uniform Standards of Professional Appraisal Practice.

6. Information, estimates, and opinions furnished to the appraiser, and contained in the report, were obtained from sources considered reliable and believed to be true and correct.

However, no responsibility for accuracy of such items furnished to the appraiser is assumed by the appraiser.

7. The appraiser assumes that there are no hidden or unapparent conditions of the property, subsoil, or structures, which would render it more or less valuable. The appraiser assumes 

no responsibility for such conditions, or for engineering or testing, which might be required to discover such factors. This appraisal is not an environmental assessment of the property and 

should not be considered as such.

8. The appraiser specializes in the valuation of real property and is not a home inspector, building contractor, structural engineer, or similar "expert", unless otherwise noted. The appraiser 

did not conduct the intensive type of field observations of the kind intended to seek and discover property defects. The viewing of the property and any improvements is for purposes of 

developing an opinion of the defined value of the property, given the intended use of this assignment. Statements regarding condition are based on surface observations only. The 

appraiser claims no special expertise regarding issues including, but not limited to: foundation settlement, basement moisture problems, wood destroying (or other) insects, pest infestation, 

radon gas, lead based paint, mold or environmental issues. Unless otherwise indicated, mechanical systems were not activated or tested.

This appraisal report should not be used to disclose the condition of the property as it relates to the presence/absence of defects. The client is invited and encouraged to employ qualified 

experts to inspect and address areas of concern. If negative conditions are discovered, the opinion of value may be affected.

Unless otherwise noted, the appraiser assumes the components that constitute the subject property improvement(s) are fundamentally sound and in 

working order.

Any viewing of the property by the appraiser was limited to readily observable areas. Unless otherwise noted, attics and crawl space areas were not accessed. The appraiser did not move 

furniture, floor coverings or other items that may restrict the viewing of the property.

9. Appraisals involving hypothetical conditions related to completion of new construction, repairs or alteration are based on the assumption that such completion, alteration or repairs will 

be competently performed. 

10. Unless the intended use of this appraisal specifically includes issues of property insurance coverage, this appraisal should not be used for such purposes. Reproduction or 

Replacement cost figures used in the cost approach are for valuation purposes only, given the intended use of the assignment. The Definition of Value used in this assignment is unlikely 

to be consistent with the definition of Insurable Value for property insurance coverage/use.

11. The ACI General Purpose Appraisal Report (GPARTM) is not intended for use in transactions that require a Fannie Mae 1073/Freddie Mac 465 form, 

also known as the Individual Condominium Unit Appraisal Report (Condo).

Additional Comments Related To Scope Of Work, Assumptions and Limiting Conditions

Page 3 of 4

This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.

(gPARTM) General Purpose Appraisal Report 09/2016 GPAR1073_16 09232016

Produced using ACI software, 800.234.8727 www.aciweb.com

DICKINSON

SAUER APPRAISAL SERVICE, LLC

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 7 of 11
Individual Condominium Unit Appraisal Report File No.

Appraiser's Certification

The appraiser(s) certifies that, to the best of the appraiser's knowledge and belief:

1. The statements of fact contained in this report are true and correct.

2. The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are the appraiser's personal, impartial, and unbiased 

professional analyses, opinions, and conclusions. 

3. Unless otherwise stated, the appraiser has no present or prospective interest in the property that is the subject of this report and has no personal interest with respect to the parties 

involved.

4. The appraiser has no bias with respect to the property that is the subject of this report or to the parties involved with this assignment. 

5. The appraiser's engagement in this assignment was not contingent upon developing or reporting predetermined results. 

6. The appraiser's compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of 

the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal.

7. The appraiser's analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice. 

8. Unless otherwise noted, the appraiser has made a personal inspection of the property that is the subject of this report. 

9. Unless noted below, no one provided significant real property appraisal assistance to the appraiser signing this certification. Significant real property appraisal assistance provided by:

Additional Certifications:

Definition of Value: Market Value Other Value:

Source of Definition:

ADDRESS OF THE PROPERTY APPRAISED: 

EFFECTIVE DATE OF THE APPRAISAL: 

APPRAISED VALUE OF THE SUBJECT PROPERTY $

APPRAISER

Signature:

Name:

Company Name:

Company Address:

Telephone Number:

Email Address:

State Certification #

or License #

or Other (describe): State #:

State:

Expiration Date of Certification or License:

Date of Signature and Report:

Date of Property Viewing:

Degree of property viewing:

Interior and Exterior Exterior Only Did not personally view

SUPERVISORY APPRAISER

Signature:

Name:

Company Name:

Company Address:

Telephone Number:

Email Address:

State Certification #

or License #

State:

Expiration Date of Certification or License:

Date of Signature:

Date of Property Viewing:

Degree of property viewing:

Interior and Exterior Exterior Only Did not personally view

Page 4 of 4

This form Copyright © 2005-2016 ACI, a First American Company. All Rights Reserved.

(gPARTM) General Purpose Appraisal Report 09/2016 GPAR1073_16 09232016

Produced using ACI software, 800.234.8727 www.aciweb.com

DICKINSON

SAUER APPRAISAL SERVICE, LLC

X

06/29/2018

07/02/2018

03/31/2019

VA

4001009468

SAUERAPPRAISALSERVICE@HUGHES.NET

804-557-2696

NORGE, VA. 23127

7489 RICHMOND RD UNIT 28

SAUER APPRAISAL SERVICE, LLC.

KATHY E. SAUER

150,000

06/29/2018

RICHMOND, VA 23221

3717 PATTERSON AVE

X

Sauer Appraisal Service LLC

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 8 of 11
ADDENDUM

Client: MICHAEL DICKINSON File No.: DICKINSON

Property Address: 3717 PATTERSON AVE Case No.:

City: RICHMOND State: VA Zip: 23221

Addendum Page 1 of 2

Site Comments

THE SUBJECT SITE IS A TYPICAL SUBURBAN LOT IN TERMS OF SIZE AND APPEAL. SITE IMPROVEMENTS AND

LANDSCAPING ARE TYPICAL FOR THE AREA. NO ADVERSE EASEMENTS OR ENCROACHMENTS WERE NOTED. 

THE APPRAISER HAS NOT BEEN INFORMED, NOR HAS THE APPRAISER ANY KNOWLEDGE OF THE EXISTENCE OF

ANY ENVIRONMENTAL OR HEALTH IMPEDIMENT WHICH, IF KNOWN, COULD HAVE A NEGATIVE IMPACT ON THE

MARKET VALUE OF THE SUBJECT PROPERTY. THE VALUATION CONTAINED HEREIN IS NOT VALID IF ANY

HAZARDOUS ITEMS ARE FOUND IN OR ON THE SUBJECT PROPERTY AND NOT STATED WITHIN THE APPRAISAL

REPORT. WE ARE UNABLE TO VERIFY THE EXISTENCE OF POTENTIALLY HAZARDOUS MATERIAL USED IN THE

CONSTRUCTION OR MAINTENANCE OF THE SUBJECT IMPROVEMENTS, SUCH AS THE PRESENCE OF UREA

FORMALDEHYDE FOAM INSULATIONS, AND/OR THE EXISTENCE OF RADON GAS; WHICH MAY OR MAY NOT BE

PRESENT ON THE PROPERTY. NONE OF THESE ITEMS WERE OBSERVED BY THE APPRAISER ON THE DATE OF

INSPECTION; NOR DO WE HAVE ANY KNOWLEDGE OF THE EXISTENCE OF SUCH MATERIAL ON OR IN THE

PROPERTY. HOWEVER, THE APPRAISER IS NOT QUALIFIED TO DETECT SUCH SUBSTANCES. WE URGE THE

CLIENT TO RETAIN AN EXPERT IN THIS FIELD TO DETERMINE THE EXISTENCE OF SUCH SUBSTANCES. ANY

INFORMATION ABOUT INSULATIONS STATED ON THE APPRAISAL REPORT WAS PROVIDED BY THE OWNER OR

AGENT OR TAKEN FROM EXPERIENCE IN THE AREA AND IS ASSUMED TO BE ACCURATE.

THE SUBJECT PROPERTY MAY BE LOCATED WITHIN A FLOOD ZONE AREA. FEMA FLOOD MAPS ARE SOMETIMES

UNCLEAR AS TO THE EXACT LOCATION OF FLOOD ZONES. A SITE SURVEY IS RECOMMENDED TO DETERMINE

THIS FACTOR.

Comments on Sales Comparison

THE APPRAISER HAS CHOSEN WHAT ARE BELIEVED TO BE THE BEST COMPARABLE SALES AVAILABLE FROM

THE MARKET SEARCH CONDUCTED. ADJUSTMENTS WITHIN THE SALES COMPARISON ANALYSIS ARE BASED ON

THE MARKET EXTRACTION METHOD, GENERALLY EMPLOYING THE MATCHED PAIR PROCESS AND NOT

SPECIFICALLY BASED ON COST FIGURES. EVERY EFFORT HAS BEEN MADE TO CONFORM FHLMC/FNMA

GUIDELINES AND IN MOST CASES, AN EVEN STRICTER INTERPRETATION FOUND COMMON TO MOST INVESTORS

IN THE SECONDARY MARKET. ALL COMPARABLE SALES ARE SETTLED TO THE BEST OF THE APPRAISERS

KNOWLEDGE. VERIFICATION IS WITH COUNTY RECORDS AND/OR REALTOR.

THE COMPARABLES MAY EXCEED THE DESIRED SIX MONTHS SALE DATE/TIME OR ONE MILE PROXIMITY TO THE

SUBJECT HOWEVER ALL COMPARABLES ARE VERY SIMILAR TO THE SUBJECT, REQUIRED MINIMAL

ADJUSTMENTS AND ARE CONSIDERED TO BE GOOD INDICATORS OF MARKET VALUE WHERE MORE RECENT OR

NEARER COMPARABLES MAY HAVE REQUIRED MUCH LARGER LESS DESIRABLE ADJUSTMENTS. 

THE INDIVIDUAL LAND ADJUSTMENTS APPLIED WERE EXTRACTED FROM THE SUBJECTS MARKET AREA AND

ARE BASED ON VALUE AND NOT SIZE. THE REMAINDER OF THE ADJUSTMENTS APPLIED WERE EXTRACTED

FROM THE SUBJECTS MARKET AREA.

MY SEARCH CRITERIA IS AS FOLLOWS: 

ONE YEAR BACK 

RICHMOND CITY

MOUNT VERNON CONDOMINIUMS COMMUNITY

I EXANDED MY SEARCH TO BRACKET THE BATHROOM COUNT AND TO INLUDE A COMPARABLE FROM A

COMPETING COMMUNITY. 

THE SUBJECTS EXPOSURE TIME AT THE MARKET VALUE INDICATED IN THIS REPORT IS ESTIMATED TO BE 0 TO

90 DAYS. 

ADJUSTMENTS WITHIN THE SALES COMPARISON ANALYSIS ARE BASED ON THE MARKET EXTRACTION METHOD,

GENERALLY EMPLOYING THE MATCHED PAIR PROCESS.

AGE $1,000 PER THREE YEARS FOR A DIFFERENCE OF FIVE YEARS. 

BEDROOM $5,000

BATHROOM $3,000

PATIO $500

FENCE $500

COMPARABLE SIX (513 N BOULEVARD) HAS RADIENT HEAT AND WINDOW UNITS WHICH IS INFERIOR TO THE

SUBJECTS FORCED HOT AIR AND CENTRAL AIR CONDITIONING. THROUGH RESEARCH I HAVE FOUND A

POSITIVE $5,000 ADJUSTMENT APPLIES. 

COMPARABLE SIX (513 N BOULEVARD) EXCEEDS THE RECOMMENDED GROSS ADJUSTMENT OF 25% BECAUSE

OF THE AGE AND CONDITION. I AM USING THIS COMPARABLE BECAUSE IT BRACKETS THE BATHROOM COUNT. 

THE SUBJECT AND ALL COMPARABLES ARE LOCATED IN RICHMOND CITY AND ARE ALL WITHIN THE SAME

COMMUNITY. ALL COMPARABLES SHARE THE SAME MARKETABLE INFLUENCES SUCH AS EASY ACCESS TO

SHOPPING, INTERSTATES, AND RESTAURANTS. ALSO, ALL COMPARABLES ATTEND THE SAME HIGH SCHOOL. 

ALL COMPARABLES ARE LOCATED IN RICHMOND CITY AND HAVE THE SAME MARKETABLE INFLUENCES SUCH

AS EASY ACCESS TO SHOPPING, INTERSTATES, AND RESTUARANTS. ALSO, ALL COMPARABLES ATTEND THE

SAME HIGH SCHOOL. 

THE SUBJECTS OPINION OF MARKET VALUE IS LOWER THAN THE PREDOMINANT VALUE BECAUSE OF THE

SUBJECT BEING AN ATTACHED DWELLING, THE AGE ,LACK OF UPGRADES AND CONDITION.

I MADE CONDITION ADJUSTMENTS FOR ALL COMPARABLES BECAUSE THE SUBJECT IS MISSING FLOOR

COVERING , IN NEED OF PAINT AND HAS A STRONG CAT URINE SMELL . IT IS A POSSIBLITY IT COULD HAVE

SATUARATED THE SUB FLOORING . I DO NOT HAVE ANOTHER COMPARABLE WITH LIKE DEFERRED

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 9 of 11
ADDENDUM

Client: MICHAEL DICKINSON File No.: DICKINSON

Property Address: 3717 PATTERSON AVE Case No.:

City: RICHMOND State: VA Zip: 23221

Addendum Page 2 of 2

MAINTENANCE , HOWEVER I FEEL THIS WILL IMPACT MARKETABLILITY GREATLY.

Reasons for non-development of a value approach

THE SALES COMPARISON APPROACH IS THE MOST WIDELY USED AND HEAVILY WEIGHTED APPROACH TO

VALUE THE APPRAISER HAS UTILIZED SALES OF SIMILAR SIZED AND STYLE HOMES IN A CLOSE PROXIMITY TO

THE SUBEJCT.

Final Reconciliation

SCOPE OF APPRAISAL: ALL OF THE SUPPORTING MARKET DATA INCLUDED IN THIS REPORT WAS OBTAINED AND

VERIFIED BY KATHY SAUER OF SAUER APPRAISAL SERVICE LLC. FROM COUNTY RECORDS, DISCUSSIONS WITH

LOCAL APPRAISERS, AND THE APPRAISERS OFFICE FILES. THE MARKET APPROACH IS BASED ON THE

PRINCIPLE OF SUBSTITUTION, WHICH BASICALLY STATES THAT A KNOWLEDGEABLE PURCHASER WOULD NOT

PAY MORE FOR A PROPERTY THAN THE ACTUAL COST OF ACQUIRING AN EQUALLY DESIRABLE PROPERTY

WITH SIMILAR UTILITY AND QUALITY. IN MOST CIRCUMSTANCES, THE MARKET APPROACH IS GIVEN MOST

WEIGHT IN THE FINAL ANALYSIS DUE TO THE UNAVAILABILITY OF COMPARABLE RENTAL PROPERTIES IN THE

SUBJECT NEIGHBORHOOD AND THE FACT THAT MOST SINGLE-FAMILY PROPERTIES ARE OWNER OCCUPIED

WITH NO APPARENT INVESTMENT POTENTIAL. THE INCOME APPROACH IS USUALLY APPLICABLE WHEN

ESTIMATING THE MARKET VALUE OF SMALLER INCOME PRODUCING PROPERTIES SUCH AS DUPLEXES,

TRIPLEXES, AND QUADPLEXES. THE COST APPROACH, DUE TO THE OBVIOUS INHERENT DIFFICULTY IN

ACCURATELY ESTIMATING ACCRUED DEPRECIATION, IS GIVEN LESS CONSIDERATION IN THE FINAL ESTIMATION

OF VALUE. THE COST APPROACH IS GENERALLY NOT RECOGNIZED AS A VIABLE APPROACH TO VALUE BY

PERSPECTIVE BUYERS IN THE MARKETPLACE; THEREFORE, IT IS NOT REGARDED WITH A HIGH DEGREE OF

RELIABILITY.

THIS IS A APPRAISAL REPORT WHICH IS INTENDED TO COMPLY WITH THE REPORTING REQUIREMENTS UNDER

STANDARDS RULE 2-2(a) OF THE APPRAISAL REPORT. IT PRESENTS ONLY SUMMARY DISCUSSIONS OF THE

DATA, REASONING AND ANALYSIS THAT WERE USED IN THE APPRAISAL PROCESS TO DEVELOP THE

APPRAISERS OPINION OF VALUE. SUPPORTING DOCUMENTATION THAT IS NOT PROVIDED WITH THE REPORT

CONCERNING THE DATA, REASONING AND ANALYSIS IS RETAINED IN THE APPRAISERS FILES. THE DEPTH OF

THE DISCUSSION CONTAINED IN THIS REPORT IS SPECIFIC TO THE NEEDS OF THE CLIENT AND FOR THE

INTENDED USE STATES IN THE REPORT. THE APPRAISER IS NOT RESPONSIBLE FOR UNAUTHORIZED USE OF

THIS REPORT. TO DEVELOP THE OPINION OF VALUE, THE APPRAISER PERFORMED A COMPLETE APPRAISAL

PROCESS, AS DEFINED BY THE UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL PRACTICE. THIS MEANS

THAT NO DEPARTURES FROM STANDARDS 1 WERE INVOKED.

NO LIABILITY IS ASSUMED BY THE APPRAISER TO THIRD PARTIES AND PARTIES OTHER THAN THE ORIGINAL

CONTRACTOR, WHO MAY RELY ON THIS APPRAISAL REPORT WITHOUT THE EXPRESS WRITTEN CONSENT OF

THE APPRAISER WHICH MUST BE OBTAINED AT THE TIME OF CONTRACTING FOR THE APPRAISAL SERVICE. ANY

PRIOR AGREEMENT THE APPRAISER MAY HAVE ENTERED INTO, WAIVING PRIVITY OF CONTRACT RIGHTS, WITH

DISCLOSED THIRD PARTIES IS SUPERSEDED BY THIS LIMITING CONDITIONS SHOULD ANY UNDISCLOSED THIRD

PARTY SUBSEQUENTLY RELY ON THIS APPRAISAL REPORT WITHOUT THE EXPRESS WRITTEN CONSENT OF THE

APPRAISER.

THE APPRAISER AND/OR THE REVIEW APPRAISER HAS COMPLETED ALL CONTINUING EDUCATION

REQUIREMENTS FOR LICENSURE.

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 10 of 11
Market Conditions Addendum to the Appraisal Report File No.

The purpose of this addendum is to provide the lender/client with a clear and accurate understanding of the market trends and conditions prevalent in the subject neighborhood. This is a required

addendum for all appraisal reports with an effective date on or after April 1, 2009.

Property Address City State Zip Code

Borrower

Instructions: The appraiser must use the information required on this form as the basis for his/her conclusions, and must provide support for those conclusions, regarding housing trends and

overall market conditions as reported in the Neighborhood section of the appraisal report form. The appraiser must fill in all the information to the extent it is available and reliable and must provide

analysis as indicated below. If any required data is unavailable or is considered unreliable, the appraiser must provide an explanation. It is recognized that not all data sources will be able to

provide data for the shaded areas below; if it is available, however, the appraiser must include the data in the analysis. If data sources provide the required information as an average instead of the

median, the appraiser should report the available figure and identify it as an average. Sales and listings must be properties that compete with the subject property, determined by applying the criteria

that would be used by a prospective buyer of the subject property. The appraiser must explain any anomalies in the data, such as seasonal markets, new construction, foreclosures, etc.

Inventory Analysis

Total # of Comparable Sales (Settled)

Absorption Rate (Total Sales/Months)

Total # of Comparable Active Listings

Months of Housing Supply (Total Listings/Ab.Rate)

Median Sale & List Price, DOM, Sale/List %

Median Comparable Sale Price

Median Comparable Sales Days on Market

Median Comparable List Price

Median Comparable Listings Days on Market

Median Sale Price as % of List Price

Seller-(developer, builder, etc.)paid financial assistance prevalent?

Increasing

Increasing

Declining

Declining

Increasing

Declining

Increasing

Declining

Increasing

Declining

Stable

Stable

Stable

Stable

Stable

Stable

Stable

Stable

Stable

Stable

Declining

Declining

Increasing

Increasing

Declining

Increasing

Declining

Increasing

Declining

Yes No Increasing

Prior 7-12 Months

Prior 7-12 Months

Prior 4-6 Months

Prior 4-6 Months

Current - 3 Months

Current - 3 Months

Overall Trend

Overall Trend

Explain in detail the seller concessions trends for the past 12 months (e.g., seller contributions increased from 3% to 5%, increasing use of buydowns, closing costs, condo fees, options, etc.).

Are foreclosure sales (REO sales) a factor in the market? Yes No If yes, explain (including the trends in listings and sales of foreclosed properties).

Cite data sources for above information.

Summarize the above information as support for your conclusions in the Neighborhood section of the appraisal report form. If you used any additional information, such as an analysis of

pending sales and/or expired and withdrawn listings, to formulate your conclusions, provide both an explanation and support for your conclusions.

MARKET RESEARCH & ANALYSIS

If the subject is a unit in a condominium or cooperative project , complete the following: Project Name:

Subject Project Data

Total # of Comparable Sales (Settled)

Absorption Rate (Total Sales/Months)

Total # of Active Comparable Listings

Months of Unit Supply (Total Listings/Ab. Rate)

Increasing

Increasing

Declining

Declining

Stable

Stable

Stable

Stable

Declining

Declining

Increasing

Increasing

Prior 7-12 Months Prior 4-6 Months Current - 3 Months Overall Trend

Are foreclosure sales (REO sales) a factor in the project? Yes No If yes, indicate the number of REO listings and explain the trends in listings and sales of foreclosed properties.

CONDO / CO-OP PROJECTS

Summarize the above trends and address the impact on the subject unit and project.

APPRAISER

Signature

Name

Company Name

Company Address

State License/Certification # State

Email Address

SUPERVISORY APPRAISER (ONLY IF REQUIRED)

Signature

Name

Company Name

Company Address

State License/Certification # State

Email Address

APPRAISER

Page 1 of 1 Freddie Mac Form 71 March 2009 Produced using ACI software, 800.234.8727 www.aciweb.com Fannie Mae Form 1004MC March 2009 1004MC_2009 090909

DICKINSON

SAUER APPRAISAL SERVICE, LLC

MICHAEL DICKINSON

3717 PATTERSON AVE RICHMOND VA 23221

X X

X

X

X

X

X

X

X

X

X

100.00%

4

189,000

4

197,700

0.60

1

1.67

5

100.00%

0

185,475

4

191,250

0.00

0

0.67

2

99.00%

0

189,000

5

188,000

0.00

0

1.83

11

THE AMOUNT OF CLOSED SALES FOR THE PAST YEAR HAS REMAINED STABLE THE MEDIAN SALE PRICE HAS REMAINED 

STABLE AS HAS THE LIST PRICE. TOTAL # OF COMPARABLE ACTIVE LISTINGS, MONTHS OF HOUSING SUPPLY, MEDIAN 

COMPARABLE LISTINGS DAYS ON MARKET FIELDS AND PRIOR 7-12 MONTHS - PRIOR 4-6 MONTHS AND OVERALL TRENDS 

FIELDS HAVE NOT BEEN COMPLETED DUE TO THE LOCAL MLS NOT HAVING THE CAPABILITY TO PROVIDE THIS 

INFORMATION. DUE TO THE MAJORITY OF MLS SYSTEMS IN THE UNITED STATES NOT HAVING THIS CAPABILITY FANNIE 

MAE DOES NOT REQUIRE THIS INFORMATION.

CENTRAL VIRGINIA REGIONAL MLS

RESEARCH SHOWS 0 OUT OF 18 SALES OF FORECLOSURE OR REO PROPERTIES IN THE SUBJECTS MARKET AREA IN THE 

PAST 12 MONTHS.

X

IT APPEARS THAT SELLER CONCESSIONS ARE TYPICAL FOR THE MARKET AREA HOWEVER THEY DO NOT APPEAR ON 

AVERAGE TO BE HIGHER THAN 3% OF THE SELLING PRICE WHICH IS TYPICAL IN THIS MARKET AREA.

THE AMOUNT OF CLOSED SALES FOR THE PAST YEAR HAS 

REMAINED STABLE THE MEDIAN SALE PRICE HAS REMAINED STABLE AS HAS THE LIST PRICE. TOTAL # OF COMPARABLE 

ACTIVE LISTINGS, MONTHS OF HOUSING SUPPLY, MEDIAN COMPARABLE LISTINGS DAYS ON MARKET FIELDS AND PRIOR 

7-12 MONTHS - PRIOR 4-6 MONTHS AND OVERALL TRENDS FIELDS HAVE NOT BEEN COMPLETED DUE TO THE LOCAL MLS 

NOT HAVING THE CAPABILITY TO PROVIDE THIS INFORMATION. DUE TO THE MAJORITY OF MLS SYSTEMS IN THE UNITED 

STATES NOT HAVING THIS CAPABILITY FANNIE MAE DOES NOT REQUIRE THIS INFORMATION.

RESEARCH SHOWS 0 OUT OF 18 SALES OF FORECLOSURE OR REO PROPERTIES IN THE SUBJECTS MARKET AREA IN THE 

PAST 12 MONTHS.

X

X

X

X

X

0.60

1

1.67

5

0.00

0

0.67

2

0.00

0

1.83

11

MOUNT VERNON CON

SAUERAPPRAISALSERVICE@HUGHES.NET

4001009468 VA

NORGE, VA. 23127

7489 RICHMOND RD UNIT 28

SAUER APPRAISAL SERVICE, LLC.

KATHY E. SAUER

Case 18-34024-KRH Doc 79 Filed 03/29/22 Entered 03/29/22 17:17:19 Desc Main

Document Page 11 of 11