5305 Snowflake Circle

Lot 4, Block 5 Alpine Woods Subdivision

41,125 square feet in lot

Mobile is a 1960 unit with a 1970 wannigan.

Mobile is estimated estimated to be 1970 (per city) City assessed at $10,300

10 x 48' with a 7x30 addition = 690 sq feet (& 9.5 x 10.5 canopy) Roof over added 1993

Shop is 16x28 (448 square feet) -

City has indicated to owner that it should have a permanent foundation if over 400 sq feet

Attachments: Road 'as built' & Lot improvements 'as built'

Assuming the mobile was properly winterized, it would serve as temporary living unit while another home/cabin were being built... or until it could be surplus sold, or improvements made to suit the city per current requirements, now known to owner.

The mobile being an older unit, though in well-maintained and nice condition, is similar to a mobile on a lot in the neighborhood that sold last August 19, 2002 for $35,000 by bank financing. The comparable mobile is a 12 foot wide with a tip out equaling 824 sq feet. It estimated to be a 1970 mobile with a roof over the top, and also with a storage building. City assessed value of mobile is $17,800 - unchanged since 1988. The lender may have made a loan not on the security as much as the credit worthiness of the borrower.

5210 Aspen Way

Lot 8, Block 3 Alpine Woods Subdivision

If sold separately the mobile would be worth in the range of $3,000 - $5,000. The City has sold larger units & is still surplusing about three 14x70 mobiles for $10,000 start bid price this spring. With others sold that were offered for sale at $10,000 each. These were to be removed from the lot and set up other places.

The lot is zoned A-3 being in a flood zone, it would require flood insurance for a lender to finance it.

The septic, leach-field were installed with permit by a contractor. However, there is concern that the leach field would have to be redone as it is too close to the stream at the back of the lot. Being approximately 35 feet from the stream, it should be 50 feet away.

The owner shares that the well per his discussions with the city, needs to be six inches in diameter with proper casing. The sandpoint well, though, serviceable during his occupancy of the property is not proper by today's city requirements. The city has indicated to owners that they should not have approved the well since it is only a 1.5 inches & should be 2 inches.

Land in the Alpine Woods area is being offered for sale in the $22,000-$28,000 price range; however, no lots have sold in the recent past. Corbin Creek lots averaged selling for $22,000 two years ago when the city sold the acre lots they developed, which also needed a well and septic. The lot that is unimproved other than an old septic tank that is located across the street from this parcel was purchased for $20,200 some years ago.

Another drawback of the property is the fact that the mobile on Snowflake Circle is in the road side-right-of-way. Due to the fact that the City needs more snow storage in the area, nothing can be in the road right of way even temporarily in the winter. Permission to leave the mobile 'as is' per owner is not allowed to transfer to another buyer of the property.

However, the mobile does not have proper blocking. To keep the mobile on this parcel of land, it would need to be separated from the addition (which does not encroach on the road right of way) then moved, & to properly do the blocking and skirting ... and reattach to the addition. The water, sewer, and electric line would then also need to be redone after the move.

Currently there are three larger, newer mobiles for sale with land in the Alpine Woods neighborhood, without these kind of improvements needed, competing for today's buyers & only asking $65,000 - $75,000.

Therefore, it is my opinion that it would be best to sell Lot 4, Block 5 Alpine Woods Subdivision "as is" for a cash asking price of $30,000 and let the buyer do the improvements needed.