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DocuSign Envelope ID:B3C559C7-669F-465A-9837-6178302D41 F1 <br /> From: Rich Kirkland [mailto: rkirkland2 @gmail.com] <br /> Sent: Thursday, March 23, 2017 1:01 PM <br /> To: 'Kim Livingston' <kim@enoriver.org> <br /> Cc: 'Rich Shaw'<rshaw@orangecountync.gov> <br /> Subject: RE: Gledhill appraisal questions <br /> Kim <br /> I'll fix the acreage. I checked the deed and tax card—apparently I need to up the magnification <br /> on my monitor so I don't misread my 3's. <br /> As for the shift from 7 to 8 lots on Highest and Best Use, I have no problem calling it 8 lots—it's <br /> certainly in a reasonable range,but the impact of the easement wouldn't really change from <br /> that. While the shift from 7 lots to 3 versus Blots to 3 is giving up more potential lots, the <br /> conservation easements aren't quite that sensitive to small shifts in terms. The sale on McDade <br /> Road has three 60 acre estate lots that could have supported six 10-acre lots each and so that was <br /> a shift from 6 lots to 1, or 83% loss in potential lots for only a 50% loss in value. It's not a direct <br /> linear regression. <br /> As for adding in the new comp and updating, I can do that hourly at $175/hour and probably <br /> needs less than 2 hours, maybe less than 1. (I have a minimum 1 hour charge regardless). <br /> If they wait till this summer to see if there are other sales that pop,then the only change in the <br /> quote would be that I'd need more time to look up and research any new comps that come up. <br /> If I update now, and say this summer they are ready to do something and you need an updated <br /> date, I could do a minimal search of the market and write a letter indicating whether or not I <br /> believe the value is "the same or greater"than the last report. An appraisal can just reflect a <br /> direction in value, and if you don't need to look for possible higher value,but happy with the <br /> current value, then I could do that for only 1 hour of time. <br /> I hope that helps. <br /> Richard C. Kirkland, Jr, MAI <br /> Kirkland Appraisals, LLC <br /> 9408 Northfield Court <br /> Raleigh,NC 27603 <br /> 919-414-8142 <br /> www.kirklandappraisals.com <br />