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'Findings of Fact for Petition 2017.: 2: Page 2 of 3
<br />The Petitioner's Agent; Seth' attend the hearing -Kelley Tamer was present at the hearing representing the
<br />Property Appraisers -office.
<br />The -subject is a 5 bedroom. 5 bath home with 7,070 adjuste&building.square, footage: The lot size -is IZOOO square
<br />feet. The subject is located on a canal; no fixed bridges with ocean. The house was built in .2-008 and . has a pool.
<br />The. Property Appraiser provided.the Subjects property record. card, Ekterior photos., Aerial- photos, Listofvacantland
<br />sales and location map, Summary- of 6 comparable sales- Property. record -card, exte nior photos, and,96 alviewsofall
<br />.9 ri
<br />Comparable sales, hIS with photos 0115comparable s6les,.N18 with no photos on I comparable sale, )DR -493- Email
<br />correspondence and Misc. information. TheSpecial.Magistrate finds the Property Appraisers evidence -admissible,
<br />relevant and. credible.
<br />The
<br />Appraiser
<br />utilized
<br />20.04-20.15,
<br />004201;roht!roperties vuitli no.Exed:bridge and ocean .access. All comparables were:simlar in budding
<br />squaref07ta,lotsIza
<br />frontage on the canal and pools.
<br />Tho,. Petitioner provideda Cover letter -to Property Appraiser wl:ffi evidence and -a -Tequest for Property Appraisers
<br />evidence, Subjectprqperty-reicordi-carc� Aerial plat map with -slabdoot:and.eoliaparablb.sales, 4�comparabld I sales on sales
<br />Comparison grid, Property record card and MLS on all compatible gales and'DR-493. The Special Magistrate -finds the
<br />Petitioners evidence is admissiblei credible -and relevant
<br />The Petitioner's comparables were utilized by the Property Appraiser. Tlie-Petitioner-testified that the property. located
<br />at 440 Royal PlazaDrive- was gold flitnished. He 4plie to th66-kealto''r, Jo' Macken and, she stated
<br />Jodi it. was furnished, by
<br />international.dbsi er Marc Michaels. The- finmiture was at a minimum luded in the sales
<br />ign n of $3.50,000 -and was inc
<br />price.
<br />The Special Magistrate asked:the Petitioner -why the property l9cate4-at 343 Coral Way sold so low and he,stated he
<br />didn't.know; - there wereno indications in. the MLS; but it, was listed f'or,9 months.
<br />Due to the property located at 440 Royal Plaza Drive selling.furnished andthe Petitioner tesfif*gthat the furnishings
<br />were included in the sales price, this comparable should be eicluded. Also the. comparable sale located at 341, Coral
<br />Way should be excluded because it sold for a low price for au unknown reason. Itwas also listed on the MLS for 9
<br />months.
<br />The Property Appraiser's: comparables #1, 2, 4 -and 6 are the best sales to indicate value. 2 of these sales were also
<br />-utilized by the Petitioner. The adjusttuent of $1S,600per FF is excessive: and should be $6,000 per FF as the lot
<br />adjustment is taken into consideration separately. There wasAoadjustmentfibr comparable #21s
<br />comer lot and external
<br />obsolescence of siding to.Las Las Olas)kvd. 'there -should also. be 1% age -adjustment. The Property Appraisers
<br />'Comparables #1, 2,4 and -6.shau1d-.beutilize4:!and adjOstei ts:be16W--
<br />The belbiw-comparbbles shoijldb.e:adjusted as,follo.w.s:
<br />813 Riviera Drive, Ft. 'Lauderdale, Fl. — Sold for $4.,45
<br />Q000-+3,400Sqxt:,+178iQOOA.ge=$4,6.3li400.Adiusted
<br />Purchase Price.
<br />300 Royal Plaza Drive, Ft. Lauddrdalp, FL — Sold for $5,250jOOO,--44,030Sq-Ft., -368,5.00,Age, 420,000 U,
<br />-+450,000 Inferior Location 02ornarlgidez to I -;m Olwq'Rlvd� which. iq.A buw street) =.U_96'7;470 A4justed Purchase
<br />Price.
<br />600 Royal Plaza Dxiyq,,Ft Lauderdale, Fl. .— Soldfor $4,930,000, +65,960Sq.Ft., -345,100 Age=.$4,650,860
<br />Adjusted Purchase Price.
<br />530 San.Marco Drive,.Ft Lauderdale, Fl. -- Sold for $4;550,0100, +58J4.0 SqXt., -318,500 -Age = $4,289,640 Adjusted
<br />Purchase Price.
<br />The moan -of tho 4- compamble, sales,ls '$4y669,842_
<br />In Conclusion, 11tiempan of the 4 adjusted corpppraTplp sales is $4j609,842, which is 83Yo of the market/just value.
<br />Therefore., the Ntition is Denied.
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