PROPERTY EVALUATION (RESTRICTED REPORT)
TYPICAL BUYER/ MARKETING & EXPOSURE TIME Marketing Time:
The marketing period is defined as the time it might take to sell a property interest in real estate appraised at the estimated market value level during the period immediately after the effective date of appraisal. By definition exposure period differs from the market period in that exposure time always precedes the effective date of appraisal while market period begins immediately after the effective date of an appraisal. Furthermore, unlike exposure period, market period considers anticipated changes in market conditions. Existing financing for residential land is also available. A summary of the marketing time of comparable buildings in the subject neighborhood can be seen in the table below.
MARKETINGTIMEOFCOMPARABLES IN THESUBJECT NEIGHBORHOOD (3-mile radius)
Sale Land Days +/-Months
# Address
Type of Land
Date Sq Ft on Market on Market
1 69411 Ramon Rd, Cathedral Ctiy, CA 92234
Residential
March 30, 2019 2,178
6
0.20
2 Navajo Trl, Cathedral City, CA 92234
Residential
January 30, 2019 6,534
151
5.03
3 Via De Anza, Cathedral City, CA 92234
Residential
December 20, 2018 5,227
107
3.57
4 Wishing Well Trl, Cathedral City, CA 92234
Residential
December 5, 2018 8,100
85
2.83
5 30th Ave, Cathedral City, CA 92234
Residential
May 25, 2018 7,846
107
3.57
High
151
5.03
Low
6
0.20
Average
91
3.04
Median
107
3.57
Conversations with brokers as well as the marketing time from the sale comparables in the subject neighborhood indicate a marketing time of 1-6 months to sell the property.
Exposure Time:
Exposure period is defined as the estimated length of time a property interest being appraised would have been offered in the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal; a retrospective estimate based upon an analysis of past events assuming a competitive and open market. The exposure time period is estimated to be 1-6 months.
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