HomeMy WebLinkAboutCOM 0144.001 2002-2004 Quality Appraisal Services
Real Estate Appraising & Consulting
HCR 2 Box 0922. Kcaaa 1 II 96749
Phone: (808) 982-6955, Fax (8U8) 982-6966
October 29, 2002
Valerie C DeFrain
P.O Box 174
Liut~.. _
Ninole, Hl 96773 C~o~ey
r
Re 3,338 sq_R_ Abandoned Government Road, Aisecting Lots 26-27, Grant 6568 to J.
Botelho and Old (Abandoned) Piha Homestead Road, Piha Homesteads, North
Hilq Lsland of Hawaii, Hawaii
Dear Ms lleFram,
~1y search of the Hamakua Coast did not reveal any recent sales of abandoned roadways
ui railway. h1y data sources included the Public Record Data, the MLS system and real
estate agents who work extensively with property aloe, the Hamakua Coast.
Since no data could be found with regards to Lhe transfer of abandoned roadways, I
changed the search to look for recent sales of lots that share the characteristics of the loi
you own adjacent to the abandoned roadway in an anempt to verify the square foot prices
of such loll My search revealed hvo such sales TMKs (3) 2-9-2-25 (3 02 acres) and (3)
;J-I-4 (8 78 acres) sold for $60,000 combined ($20,000 and $4Q000 respectively) and
~pMK (3) 3-3-I-4-5 (5 37 acres) sold for $37,570 7~he square Coot prices of eadr of these
lots is shown below.
'Cax Map Kev Lnnd Area Sales Price Price/Sy. Ft.
-2-J 2-25 3 02 acres or 131,551 sq.lt $20,000 $0 I S/sq R_
3-3-7-I-04 8.78 acres or 382,457 sy ft. `C4Q000 $0 I I/sq.ft.
3-3-1-4-OS 5.37 acres or 233,917 sy R S37,s70 $0 76/sy_fi
Although the data is Limited, it appears that lots with reduced utility due to their location
along gulches sell for approximately $0.15/sq ft.. ~l'hen this fgure is applied to the
abandoned roadway adjoining your lot, a value in dir vwinity of $500.00 is derived
(3,338 sq.fi x $0 IS/sq ft-)-
911 research material and data analysis is held within the appraiser's file
1 hope this letter provides enough data for tour purposes. Please dolt hesitate to call
should you have any other questions or concerns
Smcei ely,
/
Charles R Urquhart
C2~ 2'77, expiration date 12/31/03
Quahh~ Appraisal Services
Comm. N0. /7
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