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-Florida Realtors Sales reports for the subject and two comparable sales
<br />-Subject 239 Spinnaker - 2019 listing information with interior photographs and map
<br />-Sale listing at 189 Spinnaker Drive with interior photographs and map
<br />-Sale listing 1955 Windward Way listing with interior photographs and map
<br />-Phipps & Howell letter representing John Wood regarding 8th Criterion Adjustment, March 26, 2013
<br />C. Summary of evidence presented by the Property Appraiser (PA):
<br />The subject property is a residence, located at 239 Spinnaker Drive, Vero Beach, florida. The subject is a two story
<br />residence, built in 1984, with 6,701 s.f. living area. Lot size is .55 acres. The property is located on the canal, within
<br />the Anchor.
<br />The PA Market/Just Value is $1,819,138. The property was purchased July 2019 for $1,300,000.
<br />The property appraiser presented sales data for four neighborhood sales in 2019. All sales are located within the
<br />subject subdivision, with canal or river frontage. The PA indicated that the sales support 100% Sale Price Market
<br />Value, $/sf living area, from $439 to $680 per square foot living area. The sales are concluded to supported a Just
<br />Value for the subject at $271/sfla, or $1,819,138.
<br />The sales improvements were constructed from 1982 to 2004. Site size is from .38 acre to .69 acre. Living area is from
<br />3,233 s.f. to 5,414 s.f. All sales are indicated to be good quality. All sales include swimming pools.
<br />The PA indicated that they reached out to the Petitioner that the PA was willing to reduce the subject Just Value to
<br />$1,500,000. They did not hear back from the Petitioner. The Petitioner representative thanked the PA for the potential
<br />reduction, but his client felt that he paid an appropriate fair sale price for the property, and wanted to go ahead with the
<br />hearing.
<br />D. Summary of evidence presented by Petitioner:
<br />The petitioner representative presented information supporting the subject sale in 2019 at $1,300,000 and listing / sale
<br />information for the subject property. The property was listed for $1,650,000 and sold at $1,300,000. The property was
<br />on the market from March 2019 to July 2019. The property is indicated to be in original condition, and was sold as a
<br />"renovation opportunity"
<br />The Petitioner representative felt that the market information does not support the PA Just Value assessment at
<br />$1,819,138, which is a significant increase above the recent sale price of the property.
<br />The Petitioner three sales include:
<br />-The subject sale, 239 Spinnaker Drive, Sold at $1,300,000, 7/31/2019
<br />-Listed at $1,650,000 3/25/2019
<br />-built 1984
<br />-Property listed as a "wonderful renovation opportunity", priced below recent appraisal.
<br />-Water cove views
<br />-2 story CBS
<br />-5 bedrooms with 6th bedroom roughed -in
<br />-Original Condition, pecky cypress walls, fireplace
<br />-4 car garage
<br />-6,700 s.f.
<br />-Swimming pool
<br />105 x 216 lot
<br />Photographs show original condition, dated kitchen, tile and vinyl floors
<br />$/sf sale price, $194/sfla (square foot living area)
<br />Sale 2, 189 Spinnaker Drive
<br />-$1,230,000, 12/20/2019
<br />-4,128 s.f.
<br />-Single Story, CBK home
<br />-swimming pool
<br />-large pie shaped lot, 206 x 106 (map indicates limited water front feet, with the large frontage at the road. 0.72 acres,
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