| Date |
Text |
| 2020-03-12 11:51:31 | NFIP REVIEW = APPRAISAL |
| | |
| | ADDRESS: 103 ELWA PL PERMIT # 20020332 |
| | |
| | APPRAISAL TYPE = SINGLE FAMILY RESIDENTIAL |
| | |
| | VALUE METHODOLOGY = COST APPROACH |
| | |
| | APPRAISAL # 19351K1 APPRAISAL DATE = 06/15/2019 |
| | |
| | CODES IN EFFECT: |
| | 2017 FLORIDA BUILDING CODE, 6TH EDITION W/2017 WEST |
| | PALM BEACH AMENDMENTS TO THE FLORIDA BUILDING CODE, |
| | CHAPTER 1 ADMINISTRATION |
| | FBC RE = FLORIDA RESIDENTIAL CODE 6TH EDITION 2017 |
| | CITY OF WEST PALM BEACH ORDINANCE NO. 4729-17 |
| | FEMA P-758 SI/SD DESK REFERENCE |
| | THE UNIFORM STANDARDS OF PROFESSIONAL APPRAISAL |
| | PRACTICE (USPAP) |
| | |
| | CHRISTOPHER S. THROOP, C.B.O. |
| | BUILDING PLANS EXAMINER, PX3169 |
| | 1&2 FAMILY PLANS EXAMINER, SFP306 |
| | CONSTRUCTION SERVICES DIVISION |
| | TEL: 561-805-6726 |
| | FAX: 561-805-6676 |
| | E-MAIL: [email protected] |
| | |
| | 3RD REVIEW |
| | |
| | RESULTS: DENIED |
| | |
| | YOUR SUBMITTAL IS DEFICIENT FOR THE REASONS LISTED |
| | BELOW. |
| | |
| | PREVIOUS COMMENTS THAT HAVE BEEN ADDRESSED |
| | SATISFACTORILY ARE MARKED AS CORRECTED. PREVIOUS |
| | COMMENTS THAT HAVE NOT BEEN ADDRESSED SATISFACTORILY |
| | HAVE ADDITIONAL COMMENTS IN PARENTHESES. |
| | ANY NEW COMMENT WILL BE LISTED AFTER PREVIOUS COMMENTS. |
| | |
| | 1. LOCAL FLOODPLAIN MANAGER SHALL BE LISTED AS AN |
| | INTENDED USER. (ADD TITLE - LOCAL FLOODPLAIN MANAGER - |
| | AFTER ROBERT BROWN) |
| | |
| | 2. VALUE DEFINITION SOURCE CITED - COST APPROACH. - |
| | CORRECTED |
| | |
| | |
| | 3. VALUE METHODOLOGY - COST APPROACH - CORRECTED |
| | |
| | 4. REPLACEMENT COST ESTIMATE - CORRECTED |
| | |
| | 5. CONTRACTOR SHALL SUBMIT A DETAILED COST ESTIMATE. |
| | (NOT CORRECTED) (SENT CONTRACTOR 2ND E-MAIL) |
| | |
| | 6. PHYSICAL DETERIORATION - (NEW PERCENTAGE SET AT |
| | 14.29%) |
| | (APPRAISAL SETS DEPRECIATION RATE BASED ON AGE/LIFE |
| | METHODOLOGY WITH ECONOMIC LIFE CALCULATED TO BE 70 |
| | YEARS AND EFFECTIVE AGE AT 10 YEARS - 10/70 = 14.29%) |
| | |
| | (I BELIEVE THIS IS INCORRECT - SEE BELOW) |
| | |
| | TOTAL COST NEW IS $664,905 (RS MEANS) |
| | |
| | (APPRAISAL DATE IS 2019) (STRUCTURE WAS BUILT IN 1964) |
| | (2019-1964=55) (EFFECTIVE LIFE IS 15 YEARS) (70-55=15) |
| | (DEPRECIATION RATE IS 21.43%) (15/70= 21.43%) |
| | (ACCRUED DEPRECIATION IS $142,489 ($664,905 X 0.2143) |
| | (DEPRECIATED VALUE IS $522,416 ($664,905 - $142,489) |
| | |
| | |
| | CALCULATIONS SECTION |
| | |
| | (PHYSICAL DETERIORATION SHOULD BE 21.43% ($142,489) |
| | (TOTAL ACCRUED DEPRECIATION SHOULD BE $142,489) |
| | (DEPRECIATED VALUE OF BUILDING SHOULD BE 522,416) |
| | (DEPRECIATED VALUE OF IMPROVEMENTS SHOULD BE $522,416) |
| | |
| | |
| | ANALYSIS/COMMENTS SECTION |
| | |
| | AGE/LIFE METHOD USED TO ESTABLISH DEPRECIATION RATE |
| | THE TOTAL ECONOMIC LIFE IS 70 YEARS |
| | THE PERCENTAGE ECONOMIC LIFE IS 21.43% (15/70) |
| | THE DOLLAR DEPRECIATION IS $142,489 ($664,905 * 15/70) |
| | |
| | |
| | SUMMARY OF COST SECTION |
| | |
| | IMPROVEMENTS VALUE - $522,416 |
| | TOTAL VALUE INDICDATED BY THE COST APPROACH - $522,416 |
| | VALUE ESTIMATE - $522,416 |
| | TOTAL VALUE - COST APPROACH - REAL ESTATE - $522,416 |
| | ROUNDED - $522,000 |
| | |
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| | 7. COST SOURCE - CORRECTED |
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