DS9 Document EFTA00609795

M` illit C ABLE SALES ANALYSIS _..i Zorro Ranch S, . LOCATION SQUARE FEET DATE TIME ADJ TIME ADM SALE. LAND VALUE TIMEADJ. IMPV $PER/SQFT 21477 $43,000,000 Jul-09 -19% $34,830,000 $9,500,000 25,330,000 $1,179 13,549 $9,499,500 Apr-10 -19% $7,694,595 $2,750,000 4,944,595 $365 13,544 $12,000,000 Apr-09 -19% $9,720,000 $4,500,000 5,220,000 $385 13,125 $15,000,000 Jun-08 -19% $12,150,000 $6,000,000 6,150,000 $469 12,859 $36,375,000 Apr-08 -19% $29,463,750 $12,000,000 17,463,750 $1,358 12,113 $12,380,000 Apr-09 -19% $10,027,800 $3,300,000 6,727,800 $555 11437 $20,750,000 Jul-08 -19% $16,807,500 $8,500,000 8,307,500 $726 10,005 $10,000,000 Apr-11 -19% $8,100,000 $616,800 7,483,200 $748 8,380 $11,400,000 Mar-08 -19% $9,234,000 $3,000,000 6,234,000 $744 WITH LAND VALUES (TIME ADJUSTED) MEADIAN PRICE PER SQFT MEAN PRICE PER SOFT $926 $1,148 WITHOUT LAND VALUES(TIME ADJUSTED IMPROVEMENT ONLY) MEADIAN PRICE PER SOFT MEAN PRICE PER SQFT $726 $726 SUBJECT PROPERTY SALES SQUARE FOOT EXCESS SOFT SQUARE FEET 33,339 .0cA— CIN ACREAGE 7,759 21,477 11,862 LAND VALUE $4,150,000 13,549 19,790 LOCATION SANTA FE, NM 13,544 19,795 13,125 20,214 12,859 20,480 12,113 21,226 11,437 21,902 10,005 23,334 EFTA00609795 COMIIIIILESALESfie SQUAREFOOTAGEADJUSTMENTS • a MEDIAN $ PER SQFT SQFT ADJUSTMENT MEAN $ PER SQFT SQFT ADJUSTMENT $726 $8,616,207 $726 1 $8,606,633 19,790 $726 $14,374,873 $726 $14,358,900 19,795 $726 $14,378,505 j 5726 $14,362,528 20,214 $726 $14,682,854 5726 $14,666,539 20,480 $726 $14,876,069 $726 $14,859,539 21,226 5726 $15,417,941 5726 $15,400,809 21,902 5726 $15,908,968 5726 $15,891,290 23,334 $726 $16,949,130 5726 $16,930,297 FINAL VALUE COMP SALES/LISTINGS ME SALE $ ENT ADJUSTED VALUE W/SUBJECT LAND AMOUNT LAND IMPROVEMENT ONLY IMPROVEMENT $4,150,000 $43,000,000 $25,330,000 $8,616,207 $33,946,207 $38,096,207 $9,499,500 $4,944,595 $14,374,873 $19,319,468 $23,469,468 $12,000,000 $5,220,000 $14,378,505 $19,598,505 $23,748,505 $15,000,000 $6,150,000 $14,682,854 $20,832,854 $24,982,854 $36,375,000 $17,463,750 $14,876,069 $32,339,819 $36,489,819 $12,380,000 $6,727,800 $15,417,941 $22,145,741 $26,295,741 $20,750,000 $8,307,500 $15,908,968 $24,216,468 $28,366,468 $10,000,000 $7,483,200 $16,949,130 $24,432,330 $28,582,330 EFTA00609796 SUMMARY & FINAL VALUE SALES COMPARISON SUPER ADEQUACY SALES COMPARISON MEDIAN $27,331,105 MEAN (AV $28,753,924 SUBJECT @ COST $31,000,000 SALES (IMPROVEMENT ONLY) $23,181,105 AD! AFTER SUPER AEQUACY (IMPROVMENTS ONLY) $18,340,857 SUPER ADEQUACY -25% ACCESSORY BUILDINGS (VALUE) $2,711,000 $21,051,857 SUPER ADEQUACY SQUARE FOOT AVERAGE ADEQUATE SIZE 13000 SUBJECT SIZE 33,339 SUPER ADEQUATE SQFT 20,339 PRICE PER SQFT (MEDIAN) $726 VALUE OF SUPER ADEQUATE SW' $14,773,651 SUBJECT COST (-) $31,000,000 SUPER ADEQUACY (SQFT) -52% !IginCAGE SUPER ADEQUA -39% EFTA00609797 in 0 vi ri CO ri rrl eN in EFTA00609798