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pile Nv. 95fi ADDITIONAL COMMENTS Bmi6D"r or pa mr OWNER OF RECORD - ADAMS SAMUEL L 8 GAYLA M p�dy pddBss 66004TH ST �� FL Ln coda 32968 cav VER0 BEACH cv INDIAN RIVER L rwcl',W IN IA RIV RCO INTENDED USE OF THE APPRAISAL HE IN ONS TO ACQUIRE THEWAYIBY PURCDHAUSE OF THE APPRAISAL SES OF A PART OF THES TO AID T SUBJECT FOR THERIMPROVEMTENTI OF 66TH AVENUE. RIGHT OF INTENDED USER - THEIR THE INTENDED USER OF THE AND CHARGED WITH ACQUISITION OF RIGHT OF WAY FOR STREETTIMPROVEMENTS . P REPRESENTATIVES REPORT JUST COMPENSATION D , IN CONDEM N AV ON , AS THE AMOUNT OF LOSS FOR WHICH JUST COMPENSATION IS DEFINEE PROPERTY Is COMPENSATED WHEN HIS A POSITION PECUN ARILY AS HE OR SHE WOUOR HER RLD BE IF THE PROPERTY HAD NOT OWNERINAS GOOD BEEN TAKEN ; GENERALLY HELD TO BE MARKET VALUE, BUT COURTS HAVE REFUSED TO RULE THAT IT IS ALWAYS EQUIVALENT TO MARKET VALUE. SOURCE: THE DICTIONARY OF REAL ESTATE APPRAISAL , APPRAISAL INSTITUTE , 1993 , PAGE 194 , SCOPE OF THE APPRAISAL SER'S OPINION OF THE FOCUS OFOVIDE PARTIAL TAKING E APPRAISAL IS TO THE SUBJECT AS IF PART T A HE CONDEMNATION PRECEDING .ST COMPENSATION FOR THE SCOPE OF THIS ASSIGNMENT CONSISTS OF COLLECTING AND ANALYZING DATA REGARDING THE PROPERTY COMPARISONSNG APPRAISED . JUDGEMENTS ARE MADE REGARDING ITS ARE MADE ARKET APPEAL AND THEN USING STANDARD APPROACHES VAL UA -THE COST APPROACH AND MARKET APPROACH. A THIRD TYPE OF APPROACH THE INCOME APPROACH IS NOT GENERALLY USED IN USE THE APPRAISAL OF MOST RESIDENCES BECAUSE OF THE PRIMARY DWELLINGS , AND THE SCARCITY OF DATA AVAILABLE TO SUPPORT THIS APPRROACH . MARKET DATA AS OWNER OCCUPIED SUPPORTING THE MARKET APPROACH CONSISTS OF SALES AND LISTING DATA FROM LOCAL MLS , PUBLIC RECORDS , BROKERS , AND INFORMATION FROM PRIOR APPRAISALS MADE . COST DATA IS SUPPORTED BY PUBLISHED COST DATA FOUND TO HAVE LOCAL RELEVANCE AND FROM ANALYZED KNOWN COSTS OF LOCAL RESIDENCES . LAND VALUES ARE ESTIMATED BASED ON COMPARISONS TO SALES OF VACANT SITES AND SITE VALUES INDICATED INHERENT IN IMPROVED SALES. THE DATA USED IS LIMITED TO MARKETS WITHIN INDIAN RIVER COUNTY. _ FOR THE SUBJECT PROPERTY, THE PART TAKEN IS THEEASTERLY40 FEET. THE MAIN EFFECT ON THE SUBJECT IS ESTIMATED TO BE THE LOSS OF THE LAND TAKEN , THE IMPROVEMENTS IN THE PART TAKEN , AND ANY SEVERANCE DAMAGE TO THE REMAINDER OF THE SITE. THE SUBJECT HOUSE IMPROVEMENTS ARE LOCATED SUCH THAT NEITHER THE TAKING NOR THE IMPLACEMENT OF THE PROPOSED ROAD IMPROVEMENTS IS ESTIMATED TO EFFECT THEIR CONTRIBUTORY VALUE TO THE SITE . THUS JUST COMPENSATION CAN BE ESTIMATED DIRECTLY BY ANALYSIS OF THE THE SITE AND SITE IMPROVEMENTS ONLY. THE APPRAISAL PROCESS WILL CONSIST THEN OF VALUATION OF THE LAND VALUE OF THE PART TAKEN , THE CONTRIBUTORY VALUE OF THE IMPROVEMENTS WITHIN THE PART TAKEN , AND SEVERANCE DAMAGES , IF ANY . THIS CONTAINS SOME ESTABLISHED SUBDIVISIONS LIKE PINE TREE PARK AND INDIAN RIVER AEROROF . BUTER MENT TO RANCHETTE WITHDA MINIMUM IOF ABOUT 5RACRES YTO 1J0 OR MORE PACRES . THE EASTERN EDGE USUALLY EDGE OF THE NEWER OCONOVENTIIONAL SINGLE FAMILY DEVELOPMENTS GROWTH WHERE DEVELOPMEN S ARE BEING DEVELOPED . SUPPLY AND DEMAND CONDITIONS OVER RECENT YEARS HAVE SUPPORTED A ROBUST MARKET THAT HAS STIMULATED NEW DEVELOPMENT AND CONSTRUCTION IN A CLIMATE OF AFFORDABLE BORROWING RATES AND RISING REAL ESTATE AND CONSTRUCTION PRICES , THE MARKET HAS MODERATED SOMEWHAT IN THE LFWITH A INDICATIONS THAT MARKET PRICES A EBEGINNING TO STABILTED LIIZEREASE IN SALES PACE AND HIGHEST AND BEST USE SUBJECT SITE AS IF VACANT PRIOR TO TAKING THE SUBJECT SITE IS A RANCHETTE HOMESITE LOCATED SOUTHWEST OF VERO BEACH AT THE NORTHWEST CORNER OF 4TH STREET AND 66TH AVENUE. THE HIGHEST AND BEST USE OF THE SITE AS IF VACANT PRIOR TO THE TAKING IS ESTIMATED TO BE TO IMPROVE WITH A GOOD QUALITY RANCHETTE RESIDENCE IN KEEPING WITH NEIGHBORHOOD DEMAND.