Job #: 19-10676-re
May 21, 2019
Chris Bogan Right-of-Way Supervisor Coachella Valley Water District
75515 Hovley Lane East Palm Desert, CA 92211 Re:
Valuation of Vacant Residential Land Located at the NWC of Golf Course Drive & Sunrise Circle Cathedral City, California 92234
Dear Ms. Bogan: The purpose of this report is to set forth our opinion of the market value of the real property under the premise of a fee simple interest in the above referenced property. The property was visited on May 3, 2019 and the effective date of value is May 3, 2019 . The function or use of this report is to value the subject real estate for internal decision-making purposes. The definitions of value are as such: Market Value As-Is : means the estimate of the market value of real property in its current physical condition, use, and zoning as of the appraisal date. Market Value: means the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller each acting prudently and knowledgeably, and assuming that the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing title from seller to buyer under conditions whereby:
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