Direct Comparison Approach

DIRECT COMPARISON APPROACH

Data Comparison Chart

Item

Subject Property

No. 4

No. 5

No. 6

Address

111 Surgeoner Cres

Newmarket, Ontario L3X2L3

650 Society Cres

Newmarket, Ontario L3X2V8

861 Oaktree Cres

Newmarket, Ontario L3X2Y7

506 Doubletree Lane

Newmarket, Ontario L3X2L2

Legal description

Plan 65M-3237, Lot 62

Plan 65M-3534

Pt Blk84 Rp65R-24762

Part 11

Plan 65M-3723

Lot 90

Plan 65M-3237

Lot 67

Sale date

3/11/2009

2/26/2009

1/31/2009

Instrument no.

YR 1502081

YR 1559668

YR 1561652

YR 1536624

Registration date

12/20/2004

04/30/2009

04/09/2009

02/26/2009

Vendor

Hun, Srey , Pang , Kon

Phan Ouch & Linna Im

Shelley Palethorpe

Bounmy Souksamlane And Keo Souksamlane

Purchaser

ROSE , ANNE INGRID

HALIFAX, CINDY

BURNS, GORDON

DEMIDOVA, OLGA

Sale Price

$324,000

$335,000

$342,000

Financing

5-6%

5-7%

5-7%

5-7%

Conditions of sale

normal

Fair market condition,

motivated seller

Fair market condition,

motivated seller

Fair market condition,

motivated seller

Expenses made immediately after purchase

Time difference (mos.)

0

8.5

9.0

10

Distance from subject (blocks)

0

0.86 KM SOUTH

1.77 KM SSE

0.26 KM SSE

Location

N 07 325-24-W

N 07 325-24-X

N 07 325-24-Y

N 07 325-24-X

Bldg size (above grade)

1971 sf

2300 sf

2200 sf

2380 sf

Type/Quality Construction

Average

Similar

Similar

Similar

Energy efficiency

Average

Similar

Similar

Similar

Design and appeal

2 level with basement

2 level with basement

2 level with basement

2 level with basement

Age (years)

12

13

13

15

Condition

Wood frame/ good

Similar

Similar

Similar

Room Count

Ttl

Bds

Bth

Ttl

7

3

2:1

7

Bds

Bth

Ttl

Bds

Bth

Ttl

Bds

Bth

Basement unfinished area

300

270

302

300

4

2:1

7

3

2:1

8

4

2:1

Basement/finished below grade area

600 sf

Approx. 550 sf

Approx.520 sf

Approx.610 sf

Air conditioning

yes

yes

yes

yes

Heating

Yes

Yes

Yes

Yes

Fireplace

1

1

1

1

Appliances

Dishwasher, oven, stove

Dishwasher, oven, stove

Dishwasher, oven, stove

Dishwasher, oven, stove

Lot size

32 X 110

(3557)

36.08 X 87.74 (3166)

40.81 X 96.39 (3937)

32.05 X 114.83

(3680)

Zoning

RS-1

RS-1

RS-1

RS-1

Garage/carport

ATT-2

ATT-1

ATT-2

ATT-2

Local Improvement Charges

Same as Development charge

Same as Development charge

Same as Development charge

Same as Development charge

Other comments:

INTERIOR ST, NOT A CORNER LOT

SIMILAR

CORNER LOT

SIMILAR

DIRECT COMPARISON APPROACH (continued)

Adjustment Chart

Item

no. 4

no. 5

no. 6

Sale price

$324,000

$335,000

$342,000

Real property rights conveyed adjustment

Adjusted price

$324,000

$335,000

$342,000

Financing adjustment

Conditions of sale adjustment

Expenses made immediately after purchase adjustment

Adjusted price

$324,000

$335,000

$342,000

Date of sale adjustment

$9,072

$9,949

$11,286

Adjusted price

$333,072

$344,949

$353286

Other adjustments as required:

- Location

- Construction

- Energy efficiency

- Design and appeal

- Age

- Condition

- Room count

$(10,000)

0

$(10,000)

- Basement unfinished area

- Basement/finished below grade area

$15,000

0

$15,000

- Air conditioning

- Heating

- Fireplace

- Appliances

- Lot size (Frontage difference x $625/ foot)

$(2,325)

$(5,281)

$193

- Zoning

- Garage/carport

$10,000

0

0

- Local Improvement Charges

- CORNER LOT

0

$5000

0

-

- Landscaping/Site improvement

For reconciliation purposes:

-building size ( building size difference x $156.80/ sq.ft)

$(51,585)

$(35,906)

$(64,129)

For reconciliation purposes

$(29,833)

$(31,238)

$(47,650)

Final Adjusted Sale Price

$294,162

$303,762

$294,350

Total adjustment as % of Sale Price

(10.14)%

(10.28)%

(16.19)%

DIRECT COMPARISON APPROACH (continued)

Adjustment Analysis in Order: 1. Property Rights 2. Financing 3. Expenses made immediately after purchase 4. Market Conditions 5. Time 6. Other

No adjustment was required for Real Property Rights, Financing, and Expenses made immediately after purchase, as all three comparables were similar to the subject in these respects.

Usually, in comparing properties that are encumbered by long-term leases or are essentially fully leased with quality tenants, it must be recognized that these leased properties may have significantly less risk than a competitive property that has short-term tenants at market rent rates. Thus, the appraiser must clearly identify what is being appraised; the effect of any existing leases, and the differences that may exist because of the lease situations of properties used as potential comparables.

Real property right conveyed:

In this report, all properties (subject property and comparables) are fee simple estate for single family, therefore there are no real property right conveying is required to be adjusted.

Financing:

The financing terms for subject property and comparables are based up loans given to houses of the size mention.

Expenditures made immediately after purchase:

Generally an adjustment for expenditures made immediately after purchase is simple to quantify when transaction data is being verified with the market participants. In the direct comparison analysis, costs incurred by the new owners of comparable properties are reflected ...