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p d <br /> I 0 <br /> ylid <br /> M I . 4 <br /> COMMERCIAL <br /> REAL ESTATE, LLC <br /> C) Therefore, we believe the average value derived from removing the highest and <br /> lowest homes to be a good representation of the surrounding homes. <br /> Based upon this principle of determining averages, it is our opinion that the average <br /> adjacent single family home is $380,009. <br /> Proposed Dunhill subdivision values: David Weekely Homes (DWH) intends to construct its <br /> "Custom Classics" series of homes at Dunhill. These homes are currently being constructed and <br /> sold in the triangle area in the following communities: <br /> A) Mactavish, northern wake county; Average sales price$ 627,717 <br /> B) Wyndcroft, north Raleigh: Average sales price $ 518,713 <br /> C) Meadowmont, Chapel Hill: Average sales price $ 655,330 <br /> D) Keenland Manor, northern Durham county: Average sales price $ 650,828 <br /> It is my understanding that the average home price anticipated for Dunhill will be $640,000 and <br /> two-acre lots will be purchased at an average price of$175,000 (or$87,500/acre). The website <br /> for each of these communities as well as others can found at www.davidweekelyhomes.com. <br /> Conclusion: Based upon the above values of existing vacant single-family lots being <br /> $48,997/acre it is our opinion that the sale of lots in Dunhill at $87,500/acre will maintain or <br /> increase the value of adjacent vacant land and lots. Further it is our opinion that the adjacent <br /> existing home values taken from the Orange county tax records and the methodology used to <br /> determine the average adjacent home value of$380,009 as compared to the average sales price <br /> of homes in Dunhill being $640,000, that this development will maintain or increase the value of <br /> adjacent homes. <br /> Should you have any question regarding this,please don't hesitate to contact Howard Holcomb <br /> or me at (919) 556-5418. <br /> Thank you. <br /> oe Lyle, Broker <br /> Attachments: <br /> Dunhill parcel map <br /> Property List <br /> 152 CAPCOM AVENUE. SUITE 103* WAKE FOREST,NC 27587• P-919-554-4165. F-919-554-0879• WWWMILLRIDGEREALESTATE COM <br />