HomeMy WebLinkAboutAddendum "K"
DEe 27 '95 14:42 8 AR
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A.S.H.L.A.N-D H.O.M.E.S
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, ReA L EST ATe. INC
F aC5imile Co'ver Sheet
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Fax: 4PI-r~/
From: . Carlene He9ter, CR5, GRI
Comp.ny: ,Ashland Home$ Real Egtate
Phone: (541) 482-0044
Fax: (541) 482-0046
. voicael(541) 858-1838
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150 East Main Street Ashland, Oregon 97520 503-482-
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PATRICIA SPRAGUE
REAL ESTATE, Inc.
De c . 2 ., , 1 99 S
B~ian Almquist
City AdmI~ist~.tor
ct.ty of Ashland
20 E. /faIn
Ashland, Ore~on 97520
Dear Srian-
Thank you for taking the time. to meet w1tb David Sprague and
myself last week. Z felc the meeting helped to clarify the
po.jet.on of the City of AShland, your objectives, and the
options available to the Seller of the subject property,
Marion Imperatr1ce. Moreover, you clearly communicated to us
the importance of b.j;n~ able to Justify the purchase price
of the property, since the property would be purchased with
public funds.
It wa. t.nteresting to review the "Analysis and
Interpretation" of the subject property, that wa$ performed
by Vandekamp and Baird back in March 15, 1991. At our
meeting last Tuesday, I appreciated the opportunity to share
with you the comps (comparable sales) available today,. a.nd
how my Seller arrived at her prlce. I discussed the
"Analysis and Interpretation- you provided with my seller
following our meetin9.
As I am sure you are aware, Mrs. Zmperatrice h~s many
parties other than myselE that she dl$cusses the issues
relatin9 to the transaction with. They include he~ attorney
Bruce Kelljn~to~, land use consultant Hike Lanier, and
her daughter Nan Jihi.te (just to mention a few). She also
knows many of the adjoining property owners, so she does
have a keen awareness of what ne1gborin9 properties have
sold ~or in the area.
A~ter ~urther rev1ew and research with Jack~on County Title,
please find the attached Jnformatlon r.l~t1ng to the sale of
a nearby property that took place Nov. 29, ~993. This
particular comp was 661.59 acres, non-irrigated, and sold
for $536,220.00. Acco~dlng to our sources, this comparable
property sold Eor approximately $810/ acre. This partiCUlar
comp 1s much more current than the comps used in the 1991
appraisal, and very similar in size to the subject property.
ASHLAND OFFICE:
98 NORTH MAIN
ASHLAND, OR 97520
(503) 4I2-290S
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DEe 27 '95 14:42 8 AR
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PATRICIA SPRAQOE
REAL ESTATE, Inc.
6S1.S9 ~on-jrrigated acresl Ireland property
S04.00 non-irri~ated acresl I.per.trice property
please feel free to have Carlene Hester research this
particular comp, and let us know 1r she ~inds our sources to
be reliable in regards to the size of the Zreland property,
the sales price, and the date of the sale.
As I am sure you are aware, Patricia Sprague Real Estate
Inc. and myself represent the Seller. Notwithstanding, we
feel that there are many more current comps avai1abl~ today
that were not avaiJable back 1n 1991. fhese more current
camps no~ only justify the purchase price, but demononstrate
that vacant land parceJ. in the Ashland area are showing
a fair amount of appreciat1on. annually.
Please see the attached Addendum ~K~, from the Seller
Marion Imperatrice. I fe.l the purchase price of
$'46,000 is a fair purchase price, allQ very. much
in Jine ~lth the "market valueu of. the subject property..
rr there is any way David Sprague or myself can be of
assistance to you, please do not hesitate to call.
S1ncerely, ~Q.1h-- ~~_____
Alan Kaufman, Associate Broker.
eel A~~land Ro.es R.E., Carlene Hester
ASHLAND OFFICE:
98 NORTH MAIN
ASHLAND. OR 17520
(503) 482-2905
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DEe 27 '95 14:43 8 AR
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PA,~fCIA SPRAGUE
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FAX NO. 6034880304
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ADD!NbUM TO 8ALE AGREEMENT. RECEIPT FOR EARNeST MONEY
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