Reso 2015-2405 - Laserfiche WebLink

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PRESENTATION OF DATA 46 regions ranging from Russia to Africa to Latin America which in turn could limit further investment in real estate Exposure Time Exposure time is a historical event, which, according to the definition of Market Value, precedes the effective date of the appraisal. Based upon information compiled during our research and investigation and interviews with market participants, we believe a reasonable exposure time for the subject to be between three and nine months. Therefore, the market value estimate set forth in this report represents our estimate of value, as of the appraisal date, based upon this precedent exposure to the open market. Reasonable Marketing Time The reasonable marketing time represents the most probable time required to expose the subject property on the open market to consummate a sale at a market level price. Based upon interviews with market participants, marketing time is a difficult variable to estimate. Participants interviewed within the course of this report indicated that marketing time is a direct function of price and exposure. These variables are interconnected and cannot be estimated independently. Fundamental economic theory indicates that value and marketing time are directly related, and must be estimated simultaneously in order to be meaningful. The Reasonable Marketing Period for the subject property is supported by the marketing periods of the comparable sales noted in the Sales Comparison Approach. Based upon this information and analysis, we believe a reasonable marketing time for the subject property to be between three and nine months. In accordance with Advisory Opinion AO-7 issued by the Appraisal Standards Board of the Appraisal Foundation, the estimate of marketing time is not intended to be a prediction of a date of sale. Clobus, McLemore & Duke, Inc.