Preview
Renee Healion Appraisals
2023110301
File # TTD-CV23-6026609-S
APPRAISAL OF REAL PROPERTY
LOCATED AT
15 Cherry Valley Rd
Columbia, CT 06237
Vol/Pg: 165/762
FOR
Superior Court, JD Tolland at Rockville
69 Brooklyn St
Rockville, CT 06066
OPINION OF VALUE
$165,000
AS OF
11/29/2023
TABLE OF CONTENTS
Summary of Appraisal Process ...........................................................................................................................................................................................................
1
Appraisal Report .................................................................................................................................................................................................................................
2
Remarks .............................................................................................................................................................................................................................................
4
Legal Description ................................................................................................................................................................................................................................
6
Dimensioned Parcel Map ....................................................................................................................................................................................................................
7
Subject Photos ...................................................................................................................................................................................................................................
8
Comparables Map ...............................................................................................................................................................................................................................
9
Comparable Photos 1-3 ......................................................................................................................................................................................................................
10
CT Certification exp 2024 ....................................................................................................................................................................................................................
11
Qualifications of the Appraiser - Page 1 ...............................................................................................................................................................................................
12
Qualifications of the Appraiser - Page 2 ...............................................................................................................................................................................................
13
Qualifications of the Appraiser - Page 3 ...............................................................................................................................................................................................
14
Form TCNV_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Summary of Appraisal Process
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Renee Healion Appraisals
Appraisal Report 2023110301
TTD-CV23-6026609-S File # TTD-CV23-6026609-S
IDENTIFICATION & MARKET AREA
Client Name: Superior Court, JD Tolland at Rockville Client Contact: Dale C Roberson, Committee of Sale
Client Address: 69 Brooklyn St, Rockville, CT 06066
Current Owner of Record: Bouchard, Brenda/ Miller, Robert Occupancy: Owner Tenant Vacant
Subject Property Address: 15 Cherry Valley Rd City: Columbia CT
State: Zip Code: 06237
Census Tract: 8601.00 Map Ref.: 25540 County: Tolland
Legal Description: Vol/Pg: 165/762
Property Type: SFR PUD Condo Coop Multifamily Other
Interest Appraised: Fee Simple Leasehold Leased Fee Other (describe)
Market Value Trend: Market Area Name: Columbia
Increasing Stable Typical Market Price Range: $ 165,000 to $ 415,000 Predominant: $ 341,000
Declining Typical Market Age Range: 7 yrs. to 92 yrs. Predominant: 35 yrs.
Market Conditions:Columbia, has 2351 housing units;the tax base is almost entirely residential real estate. About 30 minutes to Hartford, over 80% of
residents commute. In town, residential growth is almost nil. Existing home listing inventory is at record low volume. Sales volume is down 32%
over 2022. Subject shows from the curb to be in poor condition which limits its appeal to investors with the resources to deeply rehab or to demo
and effectively rebuild an existing use. Rehabbers buy foreclosures. Countywide median foreclosure sale prices increased 9% over 12 months.
SALES COMPARISON APPROACH
FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3
Address 15 Cherry Valley Rd 53 Whitney Rd 475 Ripley Hill Rd 1084 Boston Tpke
Columbia, CT 06237 Columbia, CT 06237 Coventry, CT 06238 Bolton, CT 06043
Proximity to Subject 2.38 miles W 5.43 miles N 9.50 miles NW
Sales Price $ $ 335,000 $ 145,000 $ 190,000
Price/Gross Living Area $ sq.ft. $ 241.35 sq.ft. $ 128.32 sq.ft. $ 157.02 sq.ft.
VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust.
Date of Sale n/a 11/15/2023 0 3/30/2023 +9,788 9/7/2023 +1,425
Location Res Res Res Res
Site Size 1.0 Acre 0.37 ac 1.89 ac 0.24 ac
Site View Sim development Sim development Sim development Sim development
Design (Style) Ranch Ranch Ranch Cape
Age (yrs.) 73 Years 62 Years 60 Years 27
Condition Poor Total rehab -150,000 Poor 0 Fair-Av -25,000
Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths
Room Count 5 3 1.0 7 3 1.0 5 3 1.0 5 2 1.0
Gross Living Area 1,080 sq.ft. 1,388 sq.ft. -17,200 1,130 sq.ft. -2,800 1,210 sq.ft. -7,300
Basement Full Full, 400 sf fin -6,000 Full Full
Heating/Cooling FA/NoCAC HW/NoCAC EL/NoCAC HW/NoCAC
Garage/Carport 2 att/pr 1 built-in +3,000 1 built-in +3,000 None +6,000
Porch, Patio, Deck Dk, Cov, Enc Wrap deck Cov,deck Deck
Seller motiv/ Fin or cash n/a REO/ Conv REO/Cash REO
Doc/fin/DOM n/a 170592882/ 52 170552144/ 14 170593260 /44
Net Adjustment (Total) + – $ -170,200 + – $ 9,988 + – $ -24,875
Adjusted Sale Price
of Comparables $ 164,800 $ 154,988 $ 165,125
Sale 1 deeply renovated by FannieMae for resale above; shows potential driving investor buyers for
Summary of Sales Comparison Approach:
subject Sale 2 in next town, sold in condition which appears most similar to subject's. Sale 3 is just over the line from the next town,
Coventry, on Rte 44 in Bolton. Sold needing less work, mostly cosmetics and, with the option to finish upper level as 2 more
bedrooms, now or in time.
Reconciliation of Sales Approach: adjusted sale prices return a range of $154,988 to $165,125 with a single point of value reasonably
expressed as $165,000.
The appraiser has researched the sales and listing history of the subject property for the past three years:
The subject has not transferred ownership or been listed for sale during this period.
The subject was sold listed for $ on (date) .
sold listed for $ on (date) .
Comments: Opinion of site value is $46,000 based on sales over the prior two years in town and in nearby small towns. Considered but
not gridded in favor of more pertinent data: active listing includes 380 Route 87 Rd., Columbia, a 1958 ranch in avg habitable condition, 2.13
acres for $230,000. Near the subject, an updated 1957 ranch with newer heating on an acre closed at $272,000 11 months ago.
My (Our) Opinion of Value (as defined) is $ $165,000 , as of 11/29/2023 , which is the effective date of this report.
BKVAL2 11/2017 Page 1 of 2
Form BKVAL2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
2023110301
TTD-CV23-6026609-S File # TTD-CV23-6026609-S
CERTIFICATIONS AND LIMITING CONDITIONS
INTENDED USE: The intended for use of this appraisal is to provide the Intended Users with a supported opinion of value for
use in a foreclosure matter.
INTENDED USER: The intended users of this appraisal report are the Trier of Fact and the Committee of Sale.
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market
under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably, and assuming the price is
not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of
title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed
or well advised, and acting in what they consider their own best interests; (3) a reasonable time is allowed for exposure in the
open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and
(5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales
concession granted by anyone associated with the sale.
(Source of Definition: 12 C.F.R., part 34, subpart C-Appraisals, 34.42 Definitions (F))
STATEMENT OF CONTINGENT AND LIMITING CONDITIONS The Appraiser's Certification that appears in this report is
subject to the following conditions:
1. I will not be responsible for matters of a legal nature that affect the subject property.
2. I assume the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised
because of it being under responsible ownership.
3. Delivery of the report completes the assignment, which does not include court appearance(s). The accompanying Oath of
Appraiser is sworn before a court commissioner or notary public.
4. I have made an exterior-only inspection of the subject property so I have no knowledge of any unapparent conditions of the
property or adverse environmental conditions present in the improvements, the site, or in the immediate vicinity that would
make property more or less valuable; I assume there are no such conditions. I make no guarantees or warranties,express or
implied, regarding the condition of the property. I assumes that the improvements are in marketable condition, unless otherwise
described herein. I am not expert in environmental hazards so I will not be responsible for any such conditions that do exist or
for any engineering or testing that might be required to discover whether such conditions exist.
5. The sources of data I relied upon are those which I consider reliable. In most instances, I rely on multiple sources to
substantiate and corroborate data.
6. I will not disclose the content of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal
Practice.
APPRAISER'S CERTIFICATION I certify, to the best of my 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 results of my impartial and unbiased professional analyses.
3. I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect
to the parties involved.
4. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this
report within the 3-year period immediately preceding acceptance of this assignment.
5. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
6. My engagement in this assignment was not contingent upon developing or reporting predetermined results.
7. My 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.
8. My analyses, opinions, and conclusions were developed and reported in conformity with the applicable version of the
Uniform Standards of Professional Appraisal Practice.
9. I have made a personal inspection of the property that is the subject of this report.
10. No one provided significant real property appraisal assistance to me, the person signing this certification.
APPRAISER: SUPERVISORY or CO-APPRAISER (if applicable):
Name: Renée Healion, SRA, ASA Name:
Company Name: Renée Healion Appraisals & CT Appraisal Review Company Name:
Company Address: 919 Main St, #2 Company Address:
Willimantic, CT 06226
Date of Report/Signature: 12/01/2023 Date of Report/Signature:
License or Certification #: rcr 0000241 ST: CT License or Certification #: ST:
Expiration Date of Certification or License: 04/30/2024 Expiration Date of Certification or License:
Inspection of Subject: Interior & Exterior Exterior Only None Inspection of Subject: Interior & Exterior Exterior Only None
Date of Inspection (if applicable): 11/29/2023 Date of Inspection (if applicable):
BKVAL2 11/2017 Page 2 of 2
Form BKVAL2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Remarks File No. TTD-CV23-6026609-S
Client Superior Court, JD Tolland at Rockville
Property Address 15 Cherry Valley Rd
City Columbia County Tolland State CT Zip Code 06237
Owner Bouchard, Brenda/ Miller, Robert
Intended Users: Trier of Fact and Committee of Sale
Intended Use: to provide a supported opinion of value pursuant to a court order
Extraordinary Assumption
The Uniform Standards of Professional Appraisal Practice (USPAP) defines an extraordinary assumption as:
“An assumption, directly related to a specific assignment, as of the effective date of the appraisal results, which, if found
to be false, could alter the appraiser’s opinions or conclusions.”
~In this case, I assume the condition of the subject exterior is a strong indication of the condition of its interior,
which I cannot see. If the subject's overall condition is superior to how it appears, then the appraisal results could be
affected.
Hypothetical Condition
The Uniform Standards of Professional Appraisal Practice (USPAP) defines a hypothetical condition as: “A condition, directly
related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the
assignment results, but is used for the purpose of analysis." None
SCOPE OF WORK The Scope of Work is the type and extent of research and analyses performed in an
appraisal assignment that are required to produce credible assignment results, given the nature of the appraisal
problem, the specific requirements of the intended users, and the intended use of the appraisal report. The
opinion of value that is the conclusion of this report is meaningful within the context of the scope of work, as
of the effective date, subject to the stated assumptions & limiting conditions, any hypothetical conditions and
extraordinary assumptions, and the definition of value, as disclosed herein.
The scope of work encompasses the necessary research and analysis to produce a credible result, in accordance
with the intended use, and conforms with the Uniform Standards of Professional Appraisal Practice (USPAP).
Property descriptions are based on street-level exterior observations of the subject and from data compiled
from public records, the statewide multiple listing service, and commercial data sources to which I subscribe or
seek out. In developing the sales comparison analysis, I collected market data from the above cited sources,
corroborated and analyzed it. The most relevant comparable sales were selected, analyzed, and compared to the
subject property in the development of the appraisal; of these, the most instructive were selected for inclusion
in the report.
Listings or agreements, if any, were analyzed and findings are summarized in this report to include sales of the
subject property within 3 years of the effective date of this appraisal, as available from public record sources.
A full interior and exterior inspection of a subject property is not permitted in most cases, so an exterior-only
inspection is necessary. I have determined that the appraisal developed under this scope of work is not so
limited that the results of the assignment are no longer credible. The client and intended users understand that
the limited inspection is appropriate given the intended use.
I have developed the most useful approaches and have reported one or more approaches, as necessary for the
understanding of the intended users, and have reconciled the quality and quantity of data available into an
opinion of market value, in accordance with the intended use, scope of work, and definition of value.
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Remarks File No. TTD-CV23-6026609-S
Client Superior Court, JD Tolland at Rockville
Property Address 15 Cherry Valley Rd
City Columbia County Tolland State CT Zip Code 06237
Owner Bouchard, Brenda/ Miller, Robert
Concrete Foundation Issue
The Connecticut State Department of Consumer Protection has reported that deterioration of concrete
foundations in certain homes and structures has occurred and is occurring in parts of Connecticut, concentrated
in the northeastern part of the state and principally involving some improvements built from 1983-2017. The
deterioration is reported to be caused by defective concrete mixes. Under an exterior-only inspection, even a
casual observation of a concrete foundation is not possible. Unless discovered by other means,I assume no
defective concrete as an ordinary assumption.
Zoning
Subject is zoned RA, Residential Agricultural District
Minimums: 50,000 sq ft lot area, 200 ft frontage, setbacks are 50 ft front and rear, 25 ft side yard
Dwelling area for one-storey: 1,000 sq ft
Subject meets zoning minimum requirements.
Highest and Best Use Analysis
Site as-vacant: Permitted by right is single-unit use and agriculture Either meets zoning requirements
so is legally permissible, and is physically possible. Given the strong demand for single-unit residential
properties and the availability of financing, this use is financially feasible, and so, the maximally productive use
of the site.
As-improved: Continued single-unit use as improvements contribute value to the site.
Exposure Time is defined in USPAP as the estimated length of time that the property interest being appraised
would have been offered on the market prior to the hypothetical consummation of a sale at market value on
the effective date of the appraisal. Exposure time: 1 month.
This is an appraisal report per SR 2-2a, subject to the stated Scope of Work.
Prior Services
I have performed no other services, as an appraiser or in any other capacity, regarding the property that is the
subject of the appraisal, within the three-year period immediately preceding acceptance of this assignment.
American Society of Appraisers
The American Society of Appraisers has a mandatory reaccreditation program for all of its Designated Members. I am in
compliance with that program.
Appraisal Institute Certification
As of the date of this report, I have completed the Standards & Ethics Education requirements for designated members of the
Appraisal Institute. The reported analysis, opinions and conclusions were developed, and this report has been prepared in
conformity with the Code of Professional Appraisal Practice of the Appraisal Institute. The use of this report is subject to the
requirements of the Appraisal Institute relating to review by its duly authorized authorities.
No other users are intended by the appraiser.This appraisal is made for a specific use of a specified user.
Possession of the report by others does mean the appraisal addresses their specific needs; persons other than
the intended users should seek an independent appraisal which does address their specific needs.
Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Legal Description
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Dimensioned Parcel Map
Client Superior Court, JD Tolland at Rockville
Property Address 15 Cherry Valley Rd
City Columbia County Tolland State CT Zip Code 06237
Owner Bouchard, Brenda/ Miller, Robert
Form MAP_LT.SITE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Subject Photo Page
Client Superior Court, JD Tolland at Rockville
Property Address 15 Cherry Valley Rd
City Columbia County Tolland State CT Zip Code 06237
Owner Bouchard, Brenda/ Miller, Robert
Subject Front
15 Cherry Valley Rd
Sales Price
Gross Living Area 1,080
Total Rooms 5
Total Bedrooms 3
Total Bathrooms 1.0
Location Res
View Sim development
Site 1.0 Acre
Quality
Age 73 Years
Subject detail
Roof shingles damaged
Sagging roof line on both
house and garage
suggest
severe settlement
Assessor notes "wet
basement" as a cause
of depreciation
Subject Street
Form LPICPIX.DSS_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparables Map
Client Superior Court, JD Tolland at Rockville
Property Address 15 Cherry Valley Rd
City Columbia County Tolland State CT Zip Code 06237
Owner Bouchard, Brenda/ Miller, Robert
Form MAP_LT.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Comparable Photo Page
Client Superior Court, JD Tolland at Rockville
Property Address 15 Cherry Valley Rd
City Columbia County Tolland State CT Zip Code 06237
Owner Bouchard, Brenda/ Miller, Robert
Comparable 1
53 Whitney Rd
Prox. to Subject 2.38 miles W
Sale Price 335,000
Gross Living Area 1,388
Total Rooms 7
Total Bedrooms 3
Total Bathrooms 1.0
Location Res
View Sim development
Site 0.37 ac
Quality
Age 62 Years
Comparable 2
475 Ripley Hill Rd
Prox. to Subject 5.43 miles N
Sale Price 145,000
Gross Living Area 1,130
Total Rooms 5
Total Bedrooms 3
Total Bathrooms 1.0
Location Res
View Sim development
Site 1.89 ac
Quality
Age 60 Years
List agent photo
Comparable 3
1084 Boston Tpke
Prox. to Subject 9.50 miles NW
Sale Price 190,000
Gross Living Area 1,210
Total Rooms 5
Total Bedrooms 2
Total Bathrooms 1.0
Location Res
View Sim development
Site 0.24 ac
Quality
Age 27
List agent photo
Form LPICPIX.DS%_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
CT Certification exp 2024
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Qualifications of the Appraiser - Page 1
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Qualifications of the Appraiser - Page 2
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Qualifications of the Appraiser - Page 3
Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE
Preview
Renee Healion Appraisals 2023110301 File # TTD-CV23-6026609-S APPRAISAL OF REAL PROPERTY LOCATED AT 15 Cherry Valley Rd Columbia, CT 06237 Vol/Pg: 165/762 FOR Superior Court, JD Tolland at Rockville 69 Brooklyn St Rockville, CT 06066 OPINION OF VALUE $165,000 AS OF 11/29/2023 TABLE OF CONTENTS Summary of Appraisal Process ........................................................................................................................................................................................................... 1 Appraisal Report ................................................................................................................................................................................................................................. 2 Remarks ............................................................................................................................................................................................................................................. 4 Legal Description ................................................................................................................................................................................................................................ 6 Dimensioned Parcel Map .................................................................................................................................................................................................................... 7 Subject Photos ................................................................................................................................................................................................................................... 8 Comparables Map ............................................................................................................................................................................................................................... 9 Comparable Photos 1-3 ...................................................................................................................................................................................................................... 10 CT Certification exp 2024 .................................................................................................................................................................................................................... 11 Qualifications of the Appraiser - Page 1 ............................................................................................................................................................................................... 12 Qualifications of the Appraiser - Page 2 ............................................................................................................................................................................................... 13 Qualifications of the Appraiser - Page 3 ............................................................................................................................................................................................... 14 Form TCNV_LT - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Summary of Appraisal Process Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Renee Healion Appraisals Appraisal Report 2023110301 TTD-CV23-6026609-S File # TTD-CV23-6026609-S IDENTIFICATION & MARKET AREA Client Name: Superior Court, JD Tolland at Rockville Client Contact: Dale C Roberson, Committee of Sale Client Address: 69 Brooklyn St, Rockville, CT 06066 Current Owner of Record: Bouchard, Brenda/ Miller, Robert Occupancy: Owner Tenant Vacant Subject Property Address: 15 Cherry Valley Rd City: Columbia CT State: Zip Code: 06237 Census Tract: 8601.00 Map Ref.: 25540 County: Tolland Legal Description: Vol/Pg: 165/762 Property Type: SFR PUD Condo Coop Multifamily Other Interest Appraised: Fee Simple Leasehold Leased Fee Other (describe) Market Value Trend: Market Area Name: Columbia Increasing Stable Typical Market Price Range: $ 165,000 to $ 415,000 Predominant: $ 341,000 Declining Typical Market Age Range: 7 yrs. to 92 yrs. Predominant: 35 yrs. Market Conditions:Columbia, has 2351 housing units;the tax base is almost entirely residential real estate. About 30 minutes to Hartford, over 80% of residents commute. In town, residential growth is almost nil. Existing home listing inventory is at record low volume. Sales volume is down 32% over 2022. Subject shows from the curb to be in poor condition which limits its appeal to investors with the resources to deeply rehab or to demo and effectively rebuild an existing use. Rehabbers buy foreclosures. Countywide median foreclosure sale prices increased 9% over 12 months. SALES COMPARISON APPROACH FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 15 Cherry Valley Rd 53 Whitney Rd 475 Ripley Hill Rd 1084 Boston Tpke Columbia, CT 06237 Columbia, CT 06237 Coventry, CT 06238 Bolton, CT 06043 Proximity to Subject 2.38 miles W 5.43 miles N 9.50 miles NW Sales Price $ $ 335,000 $ 145,000 $ 190,000 Price/Gross Living Area $ sq.ft. $ 241.35 sq.ft. $ 128.32 sq.ft. $ 157.02 sq.ft. VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. DESCRIPTION +(-) $ Adjust. Date of Sale n/a 11/15/2023 0 3/30/2023 +9,788 9/7/2023 +1,425 Location Res Res Res Res Site Size 1.0 Acre 0.37 ac 1.89 ac 0.24 ac Site View Sim development Sim development Sim development Sim development Design (Style) Ranch Ranch Ranch Cape Age (yrs.) 73 Years 62 Years 60 Years 27 Condition Poor Total rehab -150,000 Poor 0 Fair-Av -25,000 Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Room Count 5 3 1.0 7 3 1.0 5 3 1.0 5 2 1.0 Gross Living Area 1,080 sq.ft. 1,388 sq.ft. -17,200 1,130 sq.ft. -2,800 1,210 sq.ft. -7,300 Basement Full Full, 400 sf fin -6,000 Full Full Heating/Cooling FA/NoCAC HW/NoCAC EL/NoCAC HW/NoCAC Garage/Carport 2 att/pr 1 built-in +3,000 1 built-in +3,000 None +6,000 Porch, Patio, Deck Dk, Cov, Enc Wrap deck Cov,deck Deck Seller motiv/ Fin or cash n/a REO/ Conv REO/Cash REO Doc/fin/DOM n/a 170592882/ 52 170552144/ 14 170593260 /44 Net Adjustment (Total) + – $ -170,200 + – $ 9,988 + – $ -24,875 Adjusted Sale Price of Comparables $ 164,800 $ 154,988 $ 165,125 Sale 1 deeply renovated by FannieMae for resale above; shows potential driving investor buyers for Summary of Sales Comparison Approach: subject Sale 2 in next town, sold in condition which appears most similar to subject's. Sale 3 is just over the line from the next town, Coventry, on Rte 44 in Bolton. Sold needing less work, mostly cosmetics and, with the option to finish upper level as 2 more bedrooms, now or in time. Reconciliation of Sales Approach: adjusted sale prices return a range of $154,988 to $165,125 with a single point of value reasonably expressed as $165,000. The appraiser has researched the sales and listing history of the subject property for the past three years: The subject has not transferred ownership or been listed for sale during this period. The subject was sold listed for $ on (date) . sold listed for $ on (date) . Comments: Opinion of site value is $46,000 based on sales over the prior two years in town and in nearby small towns. Considered but not gridded in favor of more pertinent data: active listing includes 380 Route 87 Rd., Columbia, a 1958 ranch in avg habitable condition, 2.13 acres for $230,000. Near the subject, an updated 1957 ranch with newer heating on an acre closed at $272,000 11 months ago. My (Our) Opinion of Value (as defined) is $ $165,000 , as of 11/29/2023 , which is the effective date of this report. BKVAL2 11/2017 Page 1 of 2 Form BKVAL2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE 2023110301 TTD-CV23-6026609-S File # TTD-CV23-6026609-S CERTIFICATIONS AND LIMITING CONDITIONS INTENDED USE: The intended for use of this appraisal is to provide the Intended Users with a supported opinion of value for use in a foreclosure matter. INTENDED USER: The intended users of this appraisal report are the Trier of Fact and the Committee of Sale. DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably, and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and acting in what they consider their own best interests; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concession granted by anyone associated with the sale. (Source of Definition: 12 C.F.R., part 34, subpart C-Appraisals, 34.42 Definitions (F)) STATEMENT OF CONTINGENT AND LIMITING CONDITIONS The Appraiser's Certification that appears in this report is subject to the following conditions: 1. I will not be responsible for matters of a legal nature that affect the subject property. 2. I assume the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised because of it being under responsible ownership. 3. Delivery of the report completes the assignment, which does not include court appearance(s). The accompanying Oath of Appraiser is sworn before a court commissioner or notary public. 4. I have made an exterior-only inspection of the subject property so I have no knowledge of any unapparent conditions of the property or adverse environmental conditions present in the improvements, the site, or in the immediate vicinity that would make property more or less valuable; I assume there are no such conditions. I make no guarantees or warranties,express or implied, regarding the condition of the property. I assumes that the improvements are in marketable condition, unless otherwise described herein. I am not expert in environmental hazards so I will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. 5. The sources of data I relied upon are those which I consider reliable. In most instances, I rely on multiple sources to substantiate and corroborate data. 6. I will not disclose the content of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice. APPRAISER'S CERTIFICATION I certify, to the best of my 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 results of my impartial and unbiased professional analyses. 3. I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved. 4. I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the 3-year period immediately preceding acceptance of this assignment. 5. I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment. 6. My engagement in this assignment was not contingent upon developing or reporting predetermined results. 7. My 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. 8. My analyses, opinions, and conclusions were developed and reported in conformity with the applicable version of the Uniform Standards of Professional Appraisal Practice. 9. I have made a personal inspection of the property that is the subject of this report. 10. No one provided significant real property appraisal assistance to me, the person signing this certification. APPRAISER: SUPERVISORY or CO-APPRAISER (if applicable): Name: Renée Healion, SRA, ASA Name: Company Name: Renée Healion Appraisals & CT Appraisal Review Company Name: Company Address: 919 Main St, #2 Company Address: Willimantic, CT 06226 Date of Report/Signature: 12/01/2023 Date of Report/Signature: License or Certification #: rcr 0000241 ST: CT License or Certification #: ST: Expiration Date of Certification or License: 04/30/2024 Expiration Date of Certification or License: Inspection of Subject: Interior & Exterior Exterior Only None Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection (if applicable): 11/29/2023 Date of Inspection (if applicable): BKVAL2 11/2017 Page 2 of 2 Form BKVAL2 - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Remarks File No. TTD-CV23-6026609-S Client Superior Court, JD Tolland at Rockville Property Address 15 Cherry Valley Rd City Columbia County Tolland State CT Zip Code 06237 Owner Bouchard, Brenda/ Miller, Robert Intended Users: Trier of Fact and Committee of Sale Intended Use: to provide a supported opinion of value pursuant to a court order Extraordinary Assumption The Uniform Standards of Professional Appraisal Practice (USPAP) defines an extraordinary assumption as: “An assumption, directly related to a specific assignment, as of the effective date of the appraisal results, which, if found to be false, could alter the appraiser’s opinions or conclusions.” ~In this case, I assume the condition of the subject exterior is a strong indication of the condition of its interior, which I cannot see. If the subject's overall condition is superior to how it appears, then the appraisal results could be affected. Hypothetical Condition The Uniform Standards of Professional Appraisal Practice (USPAP) defines a hypothetical condition as: “A condition, directly related to a specific assignment, which is contrary to what is known by the appraiser to exist on the effective date of the assignment results, but is used for the purpose of analysis." None SCOPE OF WORK The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that are required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended users, and the intended use of the appraisal report. The opinion of value that is the conclusion of this report is meaningful within the context of the scope of work, as of the effective date, subject to the stated assumptions & limiting conditions, any hypothetical conditions and extraordinary assumptions, and the definition of value, as disclosed herein. The scope of work encompasses the necessary research and analysis to produce a credible result, in accordance with the intended use, and conforms with the Uniform Standards of Professional Appraisal Practice (USPAP). Property descriptions are based on street-level exterior observations of the subject and from data compiled from public records, the statewide multiple listing service, and commercial data sources to which I subscribe or seek out. In developing the sales comparison analysis, I collected market data from the above cited sources, corroborated and analyzed it. The most relevant comparable sales were selected, analyzed, and compared to the subject property in the development of the appraisal; of these, the most instructive were selected for inclusion in the report. Listings or agreements, if any, were analyzed and findings are summarized in this report to include sales of the subject property within 3 years of the effective date of this appraisal, as available from public record sources. A full interior and exterior inspection of a subject property is not permitted in most cases, so an exterior-only inspection is necessary. I have determined that the appraisal developed under this scope of work is not so limited that the results of the assignment are no longer credible. The client and intended users understand that the limited inspection is appropriate given the intended use. I have developed the most useful approaches and have reported one or more approaches, as necessary for the understanding of the intended users, and have reconciled the quality and quantity of data available into an opinion of market value, in accordance with the intended use, scope of work, and definition of value. Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Remarks File No. TTD-CV23-6026609-S Client Superior Court, JD Tolland at Rockville Property Address 15 Cherry Valley Rd City Columbia County Tolland State CT Zip Code 06237 Owner Bouchard, Brenda/ Miller, Robert Concrete Foundation Issue The Connecticut State Department of Consumer Protection has reported that deterioration of concrete foundations in certain homes and structures has occurred and is occurring in parts of Connecticut, concentrated in the northeastern part of the state and principally involving some improvements built from 1983-2017. The deterioration is reported to be caused by defective concrete mixes. Under an exterior-only inspection, even a casual observation of a concrete foundation is not possible. Unless discovered by other means,I assume no defective concrete as an ordinary assumption. Zoning Subject is zoned RA, Residential Agricultural District Minimums: 50,000 sq ft lot area, 200 ft frontage, setbacks are 50 ft front and rear, 25 ft side yard Dwelling area for one-storey: 1,000 sq ft Subject meets zoning minimum requirements. Highest and Best Use Analysis Site as-vacant: Permitted by right is single-unit use and agriculture Either meets zoning requirements so is legally permissible, and is physically possible. Given the strong demand for single-unit residential properties and the availability of financing, this use is financially feasible, and so, the maximally productive use of the site. As-improved: Continued single-unit use as improvements contribute value to the site. Exposure Time is defined in USPAP as the estimated length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal. Exposure time: 1 month. This is an appraisal report per SR 2-2a, subject to the stated Scope of Work. Prior Services I have performed no other services, as an appraiser or in any other capacity, regarding the property that is the subject of the appraisal, within the three-year period immediately preceding acceptance of this assignment. American Society of Appraisers The American Society of Appraisers has a mandatory reaccreditation program for all of its Designated Members. I am in compliance with that program. Appraisal Institute Certification As of the date of this report, I have completed the Standards & Ethics Education requirements for designated members of the Appraisal Institute. The reported analysis, opinions and conclusions were developed, and this report has been prepared in conformity with the Code of Professional Appraisal Practice of the Appraisal Institute. The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized authorities. No other users are intended by the appraiser.This appraisal is made for a specific use of a specified user. Possession of the report by others does mean the appraisal addresses their specific needs; persons other than the intended users should seek an independent appraisal which does address their specific needs. Form TADD - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Legal Description Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Dimensioned Parcel Map Client Superior Court, JD Tolland at Rockville Property Address 15 Cherry Valley Rd City Columbia County Tolland State CT Zip Code 06237 Owner Bouchard, Brenda/ Miller, Robert Form MAP_LT.SITE - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Subject Photo Page Client Superior Court, JD Tolland at Rockville Property Address 15 Cherry Valley Rd City Columbia County Tolland State CT Zip Code 06237 Owner Bouchard, Brenda/ Miller, Robert Subject Front 15 Cherry Valley Rd Sales Price Gross Living Area 1,080 Total Rooms 5 Total Bedrooms 3 Total Bathrooms 1.0 Location Res View Sim development Site 1.0 Acre Quality Age 73 Years Subject detail Roof shingles damaged Sagging roof line on both house and garage suggest severe settlement Assessor notes "wet basement" as a cause of depreciation Subject Street Form LPICPIX.DSS_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Comparables Map Client Superior Court, JD Tolland at Rockville Property Address 15 Cherry Valley Rd City Columbia County Tolland State CT Zip Code 06237 Owner Bouchard, Brenda/ Miller, Robert Form MAP_LT.LOC - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Comparable Photo Page Client Superior Court, JD Tolland at Rockville Property Address 15 Cherry Valley Rd City Columbia County Tolland State CT Zip Code 06237 Owner Bouchard, Brenda/ Miller, Robert Comparable 1 53 Whitney Rd Prox. to Subject 2.38 miles W Sale Price 335,000 Gross Living Area 1,388 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 1.0 Location Res View Sim development Site 0.37 ac Quality Age 62 Years Comparable 2 475 Ripley Hill Rd Prox. to Subject 5.43 miles N Sale Price 145,000 Gross Living Area 1,130 Total Rooms 5 Total Bedrooms 3 Total Bathrooms 1.0 Location Res View Sim development Site 1.89 ac Quality Age 60 Years List agent photo Comparable 3 1084 Boston Tpke Prox. to Subject 9.50 miles NW Sale Price 190,000 Gross Living Area 1,210 Total Rooms 5 Total Bedrooms 2 Total Bathrooms 1.0 Location Res View Sim development Site 0.24 ac Quality Age 27 List agent photo Form LPICPIX.DS%_LTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE CT Certification exp 2024 Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Qualifications of the Appraiser - Page 1 Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Qualifications of the Appraiser - Page 2 Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE Qualifications of the Appraiser - Page 3 Form SCNLTR - "TOTAL" appraisal software by a la mode, inc. - 1-800-ALAMODE