United States Patent [19]
`Dugan
`
`111111
`
`1111111111111111111111111111111111111111111111111111111111111
`US005857174A
`[11] Patent Number:
`[45] Date of Patent:
`
`5,857,174
`Jan. 5, 1999
`
`[54] REAL ESTATE APPRAISAL METHOD AND
`DEVICE FOR STANDARDIZING REAL
`PROPERTY MARKETING ANALYSIS BY
`USING PRE-ADJUSTED APPRAISED
`COMPARABLE SALES
`
`[76]
`
`Inventor: John W. Dugan, 911 Ridgefield Rd.,
`Thibodaux, La. 70301
`
`[21] Appl. No.: 975,448
`
`[22] Filed:
`
`Nov. 21, 1997
`
`Int. CI.6
`...................................................... G06F 17/60
`[51]
`[52] U.S. CI. ................................................................... 705/1
`[58] Field of Search ..................................... 705/1, 10, 37
`
`[56]
`
`References Cited
`
`U.S. PATENT DOCUMENTS
`
`5,361,201 11/1994 Jost et al. .................................. 705/35
`5,414,621
`5/1995 Hough ....................................... 705/10
`5,664,115
`9/1997 Fraser ........................................ 705/37
`
`Primary Examiner-Edward R. Cosimano
`Attorney, Agent, or Firm-Jacobson, Price, Holman &
`Stern, PLLC
`
`[57]
`
`ABSTRACT
`
`A real estate appraisal method in which the buyer of a
`property assigns points to a subject property and each
`comparable property based upon an Ideal Point System
`(IPS). The points assigned, or IPS values, are based upon the
`desirability factors for each of five categories of criteria. The
`total possible IPS value for any property is 100, correspond(cid:173)
`ing to 100 per cent desirability. Once the buyer's IPS values
`are determined, the property may be subsequently used as a
`comparable property. The appraiser need only select a
`subject property and obtain IPS values for the subject
`property. The sales price of each comparable property is then
`adjusted based upon the relative difference between the IPS
`values for the comparable properties and the IPS values of
`the subject property, by dividing the total IPS value for each
`comparable property with the IPS value for the subject
`property to obtain a composite adjustment ratio. The adjust(cid:173)
`ment ratio for each comparable property is then multiplied
`by the sales price to obtain an adjusted sales price. Any
`greatly divergent adjusted sales prices are discarded, and the
`average adjusted sales price is determined. The average
`adjusted sales price is used as the appraised value for the
`subject property.
`
`14 Claims, 29 Drawing Sheets
`
`42
`
`Display
`Appraised Value
`and Hi/low
`Values
`
`64
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 1 of 29
`
`5,857,174
`
`10",
`
`r- DATABASE
`24
`
`2 2"-
`
`MODEM
`
`~ PROCESSOR
`1
`2
`
`14
`
`DISPLAY L/
`
`1 6
`
`KEYBOARD L/
`
`1 8
`
`PRINTER
`
`20
`
`L/
`
`MOUSE
`
`FIG. 1
`
`

`

`""-
`""-l
`~
`....
`""-l
`Ul
`00
`....
`Ul
`
`\C
`N
`0 ....,
`N
`~ .....
`'JJ. =-~
`
`\C
`\C
`'""'"
`\C
`
`Ul
`?
`~
`~
`
`~
`
`~ = .....
`~ .....
`~
`•
`rJl
`d •
`
`FIG. 2
`
`118
`
`25 UTIUlY & APPEAL
`
`35 IMPROVEMENTS
`
`10 LOCATION 115 NEIGHBORHOOD I 15 FACILmES
`
`I
`SCALE I
`
`100
`
`120
`
`911 Ridgefield Rood ThilocbJx, lA 70111 0 Phone {504}447-8550
`
`THE DUPMC S.F.R. DEVICE
`
`/
`
`26
`
`116
`
`114
`
`110
`
`112
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 3 of 29
`
`5,857,174
`
`Format
`
`30
`
`34
`
`Go To
`Fig. 4
`
`38
`
`Go To
`Fig. 5
`
`N
`
`FIG. 3
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 4 of 29
`
`5,857,174
`
`START
`
`FIG. 4
`
`40
`
`46
`
`Search
`Records
`
`48
`
`Receive/Display
`Records
`
`58
`
`Omit
`Record
`
`52
`
`Revise
`record
`
`Y
`
`62
`
`Determine
`Appraised
`Value
`
`Display
`Appraised Value
`and Hi/Low
`Values
`
`Omit Comparable
`Prop.
`
`RETURN
`
`Select
`New
`Prop.
`
`64
`
`66
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 5 of 29
`
`5,857,174
`
`START
`
`72
`
`RETURN
`
`Input
`Data
`
`Enter
`Revisions
`
`FIG. 5
`
`Detennine
`Total IPS Value
`for Property
`
`78
`
`Transmit to
`Database
`
`---80
`
`Store
`Record
`
`RETURN
`
`82
`
`84
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 6 of 29
`
`5,857,174
`
`PRE-ADJUSTED COMPARABLE SAlE ANALYSIS
`
`COMPARABLE SALE NO
`
`1
`
`,134
`
`132,\
`
`INSPECTION DATE May, 1991
`
`PROPERTY SALE PRICE $58,000
`
`mGHEST & BEST USE - RESIDENCE~
`136
`
`110 Competitive desirability factors:
`
`~ 25
`
`(I.P .S.) BUYER APPRAISER
`
`r(10}
`138
`
`140
`
`"LOCATION
`Shopping /
`Churches
`1 ,
`To Center
`Business
`Grode School Parks
`Food stores Transportation
`kcess
`H~h School
`r NEIGHBORHOOD
`hJe Building Trend Protection
`114 % Developed
`Prestige
`~peorance Congestion
`
`Ne~hbors
`Price Range
`
`l' Frontage Topography Curbs
`
`FACIlJTIES
`
`Depth
`hea
`Shape
`
`Drainage
`Soil
`Street
`
`Sidewalk
`
`1V Cable
`Gas mains
`Water Delivery
`Electricity
`Paper Delivery
`storm Drains Street lights
`Phone Service Waste Collection
`Sewer t.toins
`Moil DerlVery
`Police - Fire
`Water Mains
`
`(15)
`
`9
`
`8
`
`8.5
`
`8
`
`(35)
`IMPROVED
`Entry
`Plumbing
`Closets Corports
`(
`Orientation Well ~ 125
`living Rm. Baths
`118 Size,lA/SF Termites
`Dining Rm. Ublity
`Privacy
`Septic Tank/Sewerage
`Construction Floors
`Fami~ Rm. Storage Ught
`Walks
`Rooms
`eeaings
`Driveway Fruit
`Roof
`Insulation Kitchen
`Heating
`Ventilation
`Exl Walls
`Inl Walls Cabinets Cooling
`Plan
`WoOs Nje Building
`Windows
`Equipment Porches Electrical
`Fences Obsolescence
`Doors
`Foundations Trim Bedrooms
`Patios Hardware
`landscape Condition
`
`27
`
`,.-U'l'IUTY & APPEAL
`120 Zoning
`Trees
`Size
`
`Situation
`Elevation
`
`View
`~peorance Parking
`
`( INFLUENCED
`122 Market Trends F umiture
`Equipment
`Vacancy
`
`Pressure
`History
`Informed
`Wide Offering
`Typical Terms Other Use
`
`Demand
`Competition
`
`TOTAL COMPmTIVE STANDARD'S RATIO =
`APPRAISER'S CONCLUSION 'AS
`
`FIG. 6a
`
`(25)
`
`(0)
`
`19
`
`0
`
`(100)
`
`70
`
`J
`7
`144
`
`27
`
`20
`
`o
`
`146
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 7 of 29
`
`5,857,174
`
`RESIDENCE COMPARABlE SAIl
`
`COMPARABlE SAIl NO 1
`
`Date of Sale:
`
`May, 1991
`
`Wcation:
`
`Vendor:
`
`Vendee:
`
`308 West Thibodaux By-Pass Road, Thibodaux Llooisiana
`
`Homequity
`
`Beth Melancon
`
`Sale Price:
`
`$58,000
`
`SF Living Area:
`
`1.724 SF
`
`Unit Price (SF):
`
`$33.64/SF
`
`Land Size:
`
`Remarks:
`
`75' x 125'
`This comparable sale had 3 bedrooms, 2 baths, central 0/ c-heo~ 2 car garage,
`front porch, covered rear patio, and privote feru:e.
`
`PHOTOGRAPH
`
`FIG. 6t>
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 8 of 29
`
`5,857,174
`
`PRE-ADJUSTED COMPARABLE SALE ANALYSIS
`
`COMPARABLE SALE NO 2
`
`INSPECTION DATE April, 1991
`
`PROPERTY SALE PRICE $64,900
`
`IDGHEST & BEST USE - RESIDENCE
`
`Competitive desirability factors:
`LOCATION
`Shopping
`Churches
`Business
`To Center
`Grade School Parks
`Access
`H~h School
`Food Stores Transportation
`
`NEIGHBORHOOD
`% Developed
`Prestige
`
`Ne~hbors
`Price Range
`
`kJe Building Trend Protection
`Appearance
`Congestion
`
`1V Cable
`Gas mains
`Sidewalk
`FACnJTIES
`Water Delivery
`Electricity
`Frontage Topography Curbs
`Paper Delivery
`storm Drains Street lights
`Drainage
`Depth
`Phone Service Waste Collection
`Sewer Mains
`Soil
`kea
`Maa Oefwery
`Police - Fire
`Water Mains
`Street
`Shape
`
`(I.P.S.) BUYER APPRAISER
`(10)
`
`7
`
`7
`
`(15)
`
`(15)
`
`12.5
`
`12
`
`12.5
`
`12
`
`(35)
`
`Entry
`Plumbing
`Closets Carports
`IMPROVED
`Term~es Uving Rm. Baths
`Orientation Well
`Size,lA/SF
`Dining Rm. Ublity
`Privacy
`Septic Tank/Sewerage
`Construction Floors
`Walks
`Fami~ Rm. Storage Ught
`Rooms
`Ceilings
`Roof
`Insulation Kitchen
`Heating
`Venblation
`Driveway Fruit
`Plan Walls
`Ext. WaDs
`Int. Walls Cabinets Cooling
`kJe Building
`Equipment Porches Electrical
`Fences Obsolescence
`Windows
`Doors
`Foundations Trim Bedrooms Patios Hardware
`Landscape Condition
`
`27
`
`27
`
`UTIIJTY & APPEAL
`Zoning
`Size
`Trees
`
`~uation View
`EIevotion Appearance Parking
`
`INFLUENCED
`Market Trends
`Vacancy
`
`Furniture
`Equipment
`
`Pressure
`History
`Wide Offering
`Informed
`Typical Terms other Use
`
`Demand
`Competition
`
`TOTAL COMPETITIVE STANDARD'S RATIO =
`APPRAISER'S CONCLUSION 'AS
`
`(25)
`
`(0)
`
`20
`
`20.5
`
`o
`
`0
`
`(100)
`
`79
`
`78.5
`
`78.5
`
`FIG. 6c
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 9 of 29
`
`5,857,174
`
`lU3DENCE COMPARABlE SAlE
`
`COllPARABIE SAlE NO_2_
`
`Date of Sale:
`
`~I, 1991
`
`Incation:
`
`Sale Price:
`
`SF Uving Area:
`
`Unit Price (SF):
`
`Land Size:
`
`Remarks:
`
`1405 Pork Drive, Thibodaux, Louisiana
`
`164,900
`
`1,567 Sf
`
`$41.57/Sf
`
`100' x 95'
`
`This comparable sole lOS a 3 bedrooms 2 both home with a 2 cor garage, front
`porch and open patio. The interior has cathedral ceilings in the fomi~ room, a
`wet bar and central air /heol
`
`PHOTOGRAPH
`
`FIG. 6d
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 10 of 29
`
`5,857,174
`
`PRE-ADJUSTED COMPARABLE SALE ANALYSIS
`
`COMPARABLE SALE NO 3
`
`INSPECTION DATE August 22, 1991
`
`PROPERTY SALE PRICE $64,000
`
`IDGHEST & BEST USE - RESIDENCE
`
`Competitive desirability factors:
`LOCATION
`Shopping
`Churches
`Business
`To Center
`Grade School Parks
`Access
`High School
`Food stores Transportation
`
`NEIGHBORHOOD
`% Developed
`Prestige
`
`Ne~hbors
`,. Building Trend Protection
`Price Range Awearance
`Congestion
`
`1V Cable
`FACnJTIES
`Gas mains
`Sidewalk
`Water Delivery
`Electricity
`Topography Curbs
`Frontage
`Paper Delivery
`storm Drains Street Lights
`Drainage
`Depth
`Phone Service Waste Conection
`Soil
`Sewer Mains
`h'ea
`Mail DerlVery
`Police - Fire
`Water Wains
`Shape
`Street
`
`(I.P .S.) BUYER APPRAISER
`
`(10)
`
`(15)
`
`(15)
`
`7.5
`
`7
`
`10
`
`10.5
`
`11.5
`
`11
`
`(55)
`
`Entry
`IMPROVED
`Plumbing
`Closets Carports
`Term~es Uving Rm. Baths
`Orientation Well
`Srze,lJ./SF
`Dining Rm. utility
`Privacy
`Construction Floors
`Septic Tank/Sewerage
`Fami~ Rm. Storage
`Rooms
`Ceilings
`tight
`Walks
`Roof
`Insulation Kitchen
`Heoting
`Ventilation
`Driveway Fruit
`Ext. Walls
`Int. Walls Cabinets Cooling
`Plan Walls
`Age Building
`Doors
`Windows
`Equipment Porches Electrical
`Fences Obsolescence
`F oundotions Trim Bedrooms
`Patios Hardware
`landscape Conadion
`
`28
`
`29.5
`
`UTIIJTY & APPEAL
`Size
`Zoning
`Trees
`
`Situation
`Elevation
`
`View
`~peorance Parking
`
`INFLUENCED
`Pressure
`History
`Market Trends
`Furniture
`Informed
`Wide Offering
`Equipment
`Typical Terms Other Use
`Vacancy
`TOTAL COMPETITIVE STANDARD'S RATIO =
`APPRAISER'S CONCLUSION 'AS
`
`Demand
`Competition
`
`(25)
`
`(0)
`
`21.5
`
`20.5
`
`0
`
`0
`
`(100)
`
`78.5
`
`78.5
`
`78.5
`
`FIG. 6e
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 11 of 29
`
`5,857,174
`
`RESIDENCE COKPARABIJ.: SAlE
`
`COKPARABIJ.: SAlE NO _3_
`
`Date of Sale:
`
`hJgust 22. 1991
`
`Location:
`
`Vendor:
`
`Sale Price:
`
`SF living Area:
`
`Unit Price (SF):
`
`Land Size:
`
`Remarks:
`
`1152 West Camellia. Thibvodaux. Louisiana
`
`Gary Drinkwater
`
`164.000
`
`'.769 Sf
`$36.17 /Sf
`
`70' x 103'
`
`This comparable sole had 3 bedrooms, , 1/2 baths. There was a small office off
`the fami~ room. There was also a 2 car garage, front porch. covered patio and
`chain-link fence. The home had central air and heat.
`
`PHOTOGRAPH
`
`FIG. 6f
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 12 of 29
`
`5,857,174
`
`PRE-ADJUm'ED COMPARABLE SALE ANALYSIS
`
`COMPARABLE SALE NO
`
`4
`
`INSPECTION DATE April 29, 1991
`
`PROPERTY SALE PRICE $64,500
`
`HIGHEST & BEST USE - RESIDENCE
`
`Competitive desirability factors:
`LOCATION
`Shopping
`Churches
`Business
`To Center
`Grode School Parks
`Food stores Transportation
`Access
`High School
`
`NEIGHBORHOOD
`% Developed
`Prestige
`
`Ne~hbors
`Price Range
`
`IvJe aunding Trend Protection
`Appearance
`Congestion
`
`lV Cable
`Gas mains
`Sidewalk
`FACllJTIES
`water Delivery
`Electricity
`Topography Curbs
`Frontage
`Paper Delivery
`Storm Drains Street Lights
`Drainage
`Depth
`Sewer Mains
`Phone Service Waste Collection
`Soil
`Area
`Mail DerJVery
`Police - Fire
`Water Mains
`Street
`Shope
`
`(I.P .S.) BUYER APPRAISER
`(10)
`
`7.5
`
`7.5
`
`(15)
`
`(15)
`
`12.5
`
`12
`
`11.5
`
`12
`
`(35)
`
`IMPROVED
`Entry
`Plumbing
`Closets Carports
`Orientation Well
`Size,LA/SF T erm~es Uving Rm. Baths
`Dining Rm. Utility
`Construction Roors
`Privacy
`Septic Tank/Sewerage
`Rooms
`Ceilings
`Fami~ Rm. Storage Ught
`Walks
`Frua
`Roof
`Insulation Kitchen
`Heating
`Ventilation
`Driveway
`Ext. Walls
`Int. Walls Cabinets Cooling
`Plan Walls
`Age Building
`Windows
`Doors
`Equipment Porches Electrical
`Fences Obsolescence
`Foundations Trim Bedrooms
`Patios Hardware
`Landscape Condition
`
`26.5
`
`27
`
`UTIIJTY & APPEAL
`Trees
`Size
`Zoning
`
`Situation
`View
`Elevation Appearance Parking
`
`INFLUENCED
`Market Trends
`Vacancy
`
`Furniture
`Equipment
`
`Pressure
`History
`Yflde Offering
`Informed
`Typical Terms Other Use
`
`Demond
`Competition
`
`(25)
`
`(0)
`
`20
`
`o
`
`TOTAL COMPETITIVE STANDARD'S RATIO =
`
`(100)
`
`78
`
`APPRAISER'S CONCLUSION WAS
`
`20
`
`0
`
`78.5
`
`78.5
`
`FIG. 6g
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 13 of 29
`
`5,857,174
`
`RESIDENCE COMPARABlE SAIl
`
`COMPARABIE SAIE NO _4_
`
`Date of Sale:
`
`April 29, 1991
`
`Location:
`
`1412 East Camellia Drive, Thibodaux, Louisiana
`
`Vendor:
`
`Vendee:
`
`Wayne Naquin
`
`Bob Chiasson, Jr.
`
`Sale Price:
`
`$64,500
`
`SF Living Area: 1,554 SF
`
`Unit Price (Sf): $41.51/SF
`
`Wid Size:
`
`90' X 120'
`
`Remarks:
`
`This 3 bedroom, 2 bath comparable has a 2 car garage, front porch, attached
`storage, fencing and central air and heat.
`
`PHOTOGRAPH
`
`FIG. 6h
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 14 of 29
`
`5,857,174
`
`PRE-ADJUSTED COMPARABLE SALE ANALYSIS
`
`COMPARABLE SALE NO 5
`
`INSPECTION DATE
`
`June, 1991
`
`PROPERTY SALE PRICE 159,000
`
`HIGHEST & BEST USE - RESIDENCE
`
`Competitive desirability factors:
`LOCATION
`Shopping
`Churches
`Business
`Grade School Paru
`To Center
`Food Stores T ronsportation
`Access
`H~h School
`kJe Building Trend Protection
`Congestion
`Appearance
`
`NEIGHBORHOOD
`Prestige
`% Developed
`
`Ne~hbors
`Price Range
`
`1V Cable
`Gas mains
`Sidewalk
`FACllJTIES
`Water Delivery
`Electricity
`Topography Curbs
`frontage
`Paper Delivery
`storm Drains Street Ughts
`Depth
`Drainage
`Phone Service Waste Collection
`Soil
`Sewer Mains
`Area
`Water Mains
`Mail DerlVery
`Police - Fire
`Street
`Shape
`
`(I.P.S.) BUYER APPRAISER
`
`(10)
`
`(15)
`
`(15)
`
`8
`
`7.5
`
`10.5
`
`11
`
`11
`
`11
`
`(35)
`
`IMPROVED
`Plumbing
`Closets Carports
`Entry
`Living Rm. Baths
`Orientation Well
`Termnes
`S'rz.e,lJ./SF
`Dining Rm. Utility
`Privacy
`Septic Tank/Sewerage
`Construction Roors
`Fami~ Rm. Storage ught
`Walks
`Rooms
`Ceilings
`Driveway Frun
`Roof
`Insulation K'rtchen
`Heating
`Ventilation
`Ext. Walls
`Int Walls Cabinets Cooling
`Plan Walls
`Age Building
`Windows
`Doors
`Equipment Porches Electrical
`Fences Obsolescence
`Foundations Trim Bedrooms
`Patios Hardware
`Landscape Conaltion
`
`23.5
`
`23.5
`
`UTIUTY & APPEAL
`Size
`Trees
`Zoning
`
`View
`Situation
`Elevation Appearonce Parking
`
`INFLUENCED
`Market Trends
`Vacancy
`
`Furniture
`Equipment
`
`Pressure
`History
`Informed
`W'lde Offering
`Typical Terms other Use
`
`Demand
`Competition
`
`TOTAL COMPETITIVE STANDARD'S RATIO =
`APPRAISER'S CONCLUSION 'AS
`
`(25)
`
`(0)
`
`lB.5
`
`0
`
`(100)
`
`71.5
`
`19
`
`0
`
`72
`
`72
`
`FIG. 6i
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 15 of 29
`
`5,857,174
`
`RESIDENCE COMPARABlE SALE
`
`COMPARABlE SAlE NO _5_
`
`Date of Sale:
`
`June, 1991
`
`Location:
`
`98 Diplomat Way, Thibodaux, Louisiana
`
`Vendor:
`
`Vendee:
`
`Lea Rutter Builders
`
`Richard McMillan
`
`Sale Price:
`
`$59,000
`
`SF Living Area:
`
`1,244 SF
`
`Unit Price (SF):
`
`$47.43/SF
`
`Land Size:
`
`Remarks:
`
`54' x 129'
`
`This comparable sale had 3 bedrooms, 2 baths, a carport, front porch,
`attached storage and central air and heat.
`
`PHOTOGRAPH
`
`FIG. 6j
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 16 of 29
`
`5,857,174
`
`132",
`
`SUBJECT'S D U P A A C S ANALYSIS
`SUBJECT PROPERTY
`
`(134
`
`INSPECTION DATE March 18, 1992
`
`PROPERTY SALE PRICE to be estimated
`
`IDGHEST & BEST USE - RESIDENCE
`
`110 C Competitive desirability factors:
`
`( LOCATION
`112 To Center
`Access
`
`Churches
`Grade School Parks
`High School
`Food Stores
`
`Shopping
`Business
`Transportation
`
`(I.P .S.) SEILER APPRAISER
`(10)
`
`8
`
`8
`
`(NEIGHBORHOOD
`114 % Developed
`Prestige
`
`Neighbors
`Price Range
`
`NJe Building Trend Protection
`~peoronce Congestion
`
`(15)
`
`10
`
`10.5
`
`N Cable
`Gas mains
`Sidewalk
`( FACllJ'l'IES
`Water Del"lVery
`Electricity
`Topography Curbs
`116 Frontage
`Paper Delivery
`Storm Drains Street Lights
`Drainage
`Depth
`Phone Service Waste Collection
`Sewer Mains
`Soil
`Area
`Mail Derwery
`Water Mains
`Police - Fire
`Shope
`Street
`
`(15)
`,--138
`11
`
`11
`
`(35)
`
`(IMPROVED
`Entry
`Plumbing
`Closets Carports
`118 Sue,lA/SF T ermnes Uving Rm. Baths
`Orientation Well
`Dining Rm. Ublity
`Privacy
`Construction Floors
`Septic Tank/Sewerage
`~25
`Fomi~ Rm. Storage Ught
`Rooms
`Ceilings
`Walks
`Driveway
`frun.-/
`Roof
`Insulation Kitchen
`Heating
`Venblation
`Ext. Walls
`Int. Walls Cabinets Cooling
`Plan Walls
`Age Building
`Doors
`Windows
`Equipment Porches Electrical
`Fences Obsolescence
`Foundations Trim Bedrooms
`Patios Hardware
`Landscape Condition
`
`148
`)
`
`30
`
`(UTIIJTY & APPEAL
`120 Zoning
`Size
`Trees
`r INFLUENCED
`122 Market Trends
`Vacancy
`
`Furniture
`Equipment
`
`Situation
`Elevation
`
`View
`~peorance Parking
`
`History
`Pressure
`Informed
`W"lde Offering
`Typical Terms other Use
`
`Demond
`Competition
`
`TOTAL COMPETITIVE STANDARD'S RATIO =
`
`APPRAISER'S CONCLUSION 'AS
`FIG. 6k
`
`\
`
`131
`
`(25)
`
`(0)
`
`(100)
`
`19.5
`
`0
`
`78.5
`
`(
`
`149
`
`14)2
`30
`
`19
`
`0
`
`78.5
`~
`
`78·9
`
`146
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 17 of 29
`
`5,857,174
`
`SUBJECT PROPERTY DATA
`
`Date of Inspection:
`
`March 18, 1992
`
`Location:
`
`Vendor:
`
`405 Jefferson Drive, Thibodaux, Louisiana
`
`Leon Toups, Jr.
`
`SF Living Area:
`
`1,803 SF
`
`Imld Size:
`
`83' x 125'
`
`PHOTOGRAPH
`
`FIG. 61
`
`

`

`""-
`'-l
`~
`....
`'-l
`Ul
`00
`....
`Ul
`
`\C
`N
`....,
`0
`'""'"
`00
`~ .....
`=-~
`
`'JJ.
`
`\C
`\C
`'""'"
`\C
`
`~
`
`~ =
`.
`
`~Ul
`
`=
`.....
`~
`.....
`~
`~
`•
`rJl
`•
`d
`
`\150
`
`FIG. 6rn
`
`$64,310
`
`$64,500
`
`$64,000
`
`x$59,OOO
`
`~$64,500
`
`x$64,OOO
`
`1.09
`
`72.0
`
`78.5
`
`72.0
`
`0
`
`19
`
`23.5
`
`11
`
`11
`
`7.5
`
`1,244
`
`5
`
`1.00
`
`78.5
`
`78.5
`
`78.5
`
`0
`
`20
`
`27
`
`12
`
`12
`
`7.5
`
`1,554
`
`4
`
`1.00
`
`78.5
`
`78.5
`
`78.5
`
`0
`
`20.5
`
`29.5
`
`11
`
`10.5
`
`7
`
`1,769
`
`3
`
`27
`
`12
`
`2
`
`$64,500 "As is" ~
`
`Conclusion was (Rounded)
`
`1,564
`
`1.724
`
`1
`
`1,803
`
`SUBJECT
`
`I.P.S.
`
`112
`
`D U P A A C S RECONCILIATION AND SUBJECT'S VALUE ESTIMATE CONCLUSION
`
`f ~
`
`114
`
`\-.-Lo
`110 SF Living Area
`
`ca Ion
`
`Index
`
`158
`
`"-156
`
`$64,900
`
`x$64!900
`
`$64,582
`x$58IOOO
`
`1.11.-/ '-1.00
`
`78.5
`
`154
`
`70.5
`
`70.5-1 '--78.5
`
`78.5 --./ '-78.5
`
`152
`
`_0_ 146 _0_
`
`20.5
`
`20
`
`27
`
`8
`12
`8.5 142
`7~ 7
`
`157
`
`$64,458
`$64,900 ---'"
`$64,000
`
`Average was
`High was
`Low was
`
`Subject's Values
`
`Comp Sale Price
`
`Composite Adj.
`
`Comp's Grade
`
`Subject's Grade
`
`78.5
`
`100%
`
`Total Standard Units
`
`b!fluenced~
`Utility 8c Appeal J
`Improved~
`Facilities ~ 15
`Neighborhood .-/
`
`122
`
`120
`
`118
`
`116
`
`0
`
`19
`
`30
`
`11
`
`25
`
`35
`
`15 138 10.5
`10,
`8
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 19 of 29
`
`5,857,174
`
`PRE-ADJUSTED COMPARABLE SALE ANALYSIS
`
`COMPARABLE SALE
`
`A
`
`INSPECTION DATE February 13, 1995
`
`ACRE SALE PRICE $28,812
`
`(I.P .S.) BUYER APPRAISER
`
`HIGHEST 8c BEST USE - RURAL RESIDENTIAL ACREAGE
`
`Competitive desirability factors:
`LOCATION
`Churches
`To center
`Food stores
`kcess
`Shopping
`
`Grade School
`H~h School
`
`Business
`Transportation
`
`NEIGHBORHOOD
`% Developed
`Occupancies
`
`Price Range
`NJe
`
`Appearance Proteetion
`Trends
`
`(30)
`
`(10)
`
`Sewer Mains Phone Service (30)
`FACllJTIES
`Rocks
`Moisture
`City Water
`1V Cable
`Streets
`Frontage Drainage Springs
`Sidewalks Electricity
`Mail Delivery
`Depth
`Soils
`Ponds
`Shape
`Depth
`Wet Areas Curbs Street Ughts Garbage Collection
`lopography Texture Erosion
`Storm Drains Gas Mains Po6ce-Fire
`
`25
`
`25
`
`9
`
`9
`
`22
`
`22
`
`o
`
`o
`
`IllPROVED
`Pipelines
`Fences
`Wire
`Elee. Unes
`Posts
`Barns
`Gates
`Sheds
`Stock Pens
`Clearing
`Pasture
`Residences
`Wells
`Bedrooms
`urnm It APPEAL
`Trees
`Situation
`
`(0)
`
`Carports
`Baths
`Kitchen
`Roof
`Exterior
`Cabinets
`Equipment Windows
`storage
`Foundation
`Heating
`TennRes
`Cooling
`Floors
`Porches
`Ceaings
`
`Insulation Walls
`Interior
`Yard Fencing
`Doors
`Landsca~ng
`Electrical F rua Trees
`Hardware NJe Buildings
`Plumbing Obsolescence
`Septic Tanks
`Condition
`Driveways
`
`Elevation
`View
`
`Restrictions
`Size
`
`Appearance
`Zoning
`
`INFLUENCED
`limber
`Extras
`FruR
`Equipment
`Crops Minerals
`
`Other Use
`Wide Offering
`Typical Tenns
`
`Pressure Competition
`Informed
`Demand
`
`TOTAL COMPETlTIVE STANDARD'S RATIO =
`APPRAISER'S CONCLUSION WAS
`
`FIG. 7a
`
`(30)
`
`(0)
`
`(100)
`
`23
`
`0
`
`79
`
`79
`
`23
`
`0
`
`79
`
`79
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 20 of 29
`
`5,857,174
`
`SINGLE rAlULY RESIDENTIAL COMPARABLE SALE
`
`COllPARABLE SAlE
`
`A
`
`Date of Sale:
`
`February 22, 1995
`
`IDeation:
`
`Vendor:
`
`Vendee:
`
`Recordation:
`
`Sale Price:
`
`Lmd Size:
`
`Highway 24, Gray, Louisiana 70359
`
`Benny Morgan, III
`
`Eagle Wright Baptist Church, Inc.
`
`$32.500
`
`49,136 SF or 1.128 Acres
`
`Dimensions:
`
`75.69 x 508.16' x 96' x 515.34'
`
`Unit Price(AC):
`
`$28,812/ AC
`
`Unit Price(SF):
`
`$D.66/SF
`
`This is a portion of Lot 5 on Beatyville Plantation. It is the 2nd lot north of the
`intersection of Highway 24 and Highway 316.
`
`FIG. 7b
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 21 of 29
`
`5,857,174
`
`PRE-ADJUSTED COMPARABLE SALE ANALYSIS
`
`COMPARABLE SALE
`
`B
`
`INSPECTION DATE January 9, 1995
`
`ACRE SALE PRICE
`
`$28,020
`
`(I.P .S.) BUYER APPRAISER
`
`15
`
`14
`
`9
`
`10
`
`27
`
`27
`
`o
`
`o
`
`28
`
`0
`
`79
`
`79
`
`28
`
`0
`
`79
`
`79
`
`lllGHEST & BEST USE - RURAL RESIDENTIAL ACREAGE
`
`Competitive desirability factors:
`Churches
`LOCATION
`Food Stores
`To center
`kcess
`Shopping
`
`Grade School
`High School
`
`Business
`Transportation
`
`NEIGHBORHOOD
`% Developed
`Occupancies
`
`Price Range
`Nje
`
`Appearance Protection
`Trends
`
`(30)
`
`(10)
`
`FACllJTIES
`Sewer Mains Phone Service (30)
`Rocks
`Moisture
`City Water
`1V Cable
`Frontage Drainage Springs
`Streets
`Sidewalks Electricity
`Mail DeflVery
`Depth
`Soils
`Ponds
`Shape
`Depth
`Wet Areas Curbs Street Ughts Garbage Collection
`Topography Texture Erosion
`Storm Drains Gas Mains Po6ce-Fire
`
`(O)
`
`IMPROVED
`Fences
`Wire
`Posts
`Gates
`Clearing
`Pasture
`Wells
`
`Carports
`Baths
`Roof
`Kitchen
`Pipelines
`EIec. Unes Cabinets
`Exterior
`Barns
`Equipment Windows
`Sheds
`Storage
`Foundation
`Stock Pens Heating
`Termites
`Residences Cooling
`Floors
`Bedrooms
`Porches
`Ceilings
`
`Insulation Walls
`Interior
`Yard Fencing
`Doors
`Landsca~ng
`Electrical F ruit Trees
`Hardware Age Buildings
`Plumbing Obsolescence
`Septic Tanks
`Condition
`Driveways
`
`UTIlJTY & APPEAL
`Trees
`Situation
`
`Elevation
`View
`
`Restrictions
`Size
`
`Appearance
`Zoning
`
`(30 )
`
`INFLUENCED
`Timber
`Extras
`Fru~
`Equipment
`Crops Minerals
`
`other Use
`Pressure Competition
`Informed
`Wide Offering
`Typical Terms Demand
`
`TOTAL COMPETITIVE STANDARD'S RATIO =
`APPRAISER'S CONCLUSION 'AS
`FIG. 7c
`
`(0)
`
`(100)
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 22 of 29
`
`5,857,174
`
`SINGLE FA1IILY RESIDENTIAL COMPARABLE SALE
`
`COMPARABLE SAlE
`
`8
`
`Date of Sale:
`
`December 28, 1994
`
`Wcation:
`
`Vendor:
`
`Vendee:
`
`Sugar Mill Rood, Mathews, Louisiana
`
`Twenty Seven Oaks, Inc.
`
`Daniel Jambon
`
`Recordation:
`
`1229/431
`
`Sale Price:
`
`land Size:
`
`$26,000
`
`40,419 SF or 0.928 Acres
`
`Dimensions:
`
`180' x 218.16' x 180.46' x 230.94'
`
`Unit Price(AC):
`
`$28,020/AC
`
`Unit Price(SF):
`
`$0.64/SF
`
`This is tract 3 & 4 on Sugar Mill Rood.
`
`FIG. 7d
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 23 of 29
`
`5,857,174
`
`PRE-ADJUm'ED COMPARABLE SALE ANALYSIS
`
`COMPARABLE SALE
`
`C
`
`INSPECTION DATE January 16, 1995
`
`ACRE SALE PRICE
`
`$20,957
`
`IDGHEST &: BEST USE - RURAL RESIDENTIAL ACREAGE
`
`Competitive desirability factors:
`LOCATION
`Churches
`To center
`Food stores
`Access
`Shopping
`
`Grode School
`High School
`
`Business
`Transportation
`
`NEIGHBORHOOD
`~ Developed
`Occupancies
`
`Price Range
`Age
`
`~peorance Protection
`Trends
`
`(30)
`
`(10)
`
`(I.P .S.) BUYER APPRAISER
`
`10
`
`10
`
`B
`
`B
`
`24
`
`24
`
`o
`
`o
`
`Sewer Mains Phone Service (30)
`FACllJTIES
`Rocks
`Moisture
`City Water
`lV Cable
`Streets
`Frontage Drainage Springs
`Sidewalks Electricity
`Mail Delivery
`Depth
`Soils
`Ponds
`Shape
`Depth
`Wet Areas Curbs Street lights Garbage Callection
`Topography Texture Erosion
`storm Drains Gas Mains Police-Fire
`
`(0)
`
`IllPROVED
`Fences
`Wire
`Posts
`Gates
`Clearing
`Posture
`Wells
`
`Carports
`Baths
`Roof
`Kitchen
`Pipelines
`Elee. Unes Cabinets Exterior
`Barns
`Equipment Windows
`Sheds
`Storage
`Foundation
`Stock Pens Heating
`Termites
`Residences Cooling
`Floors
`Bedrooms
`Porches
`Ceilings
`
`Insulation Walls
`Interior
`Yard Fencing
`Doors
`Londsco~ng
`Electrical Fruit Trees
`Hardware Age Buildings
`Plumbing Obsolescence
`Septic Tonks
`Condition
`Driveways
`
`U'l'IlJ'l'Y &: APPEAL
`Trees
`Situation
`
`Elevation
`View
`
`Restrictions
`Size
`
`Appearance
`Zoning
`
`INFLUENCED
`Timber
`Extras
`Fruit
`Equipment
`Crops Minerals
`
`Other Use
`Wide Offering
`Ty~cal Terms
`
`Pressure Competition
`Informed
`Demond
`
`TOTAL COMPETITIVE STANDARD'S RATIO =
`APPRAISER'S CONCLUSION WAS
`
`(30)
`
`(0)
`
`(100)
`
`17
`
`0
`
`59
`
`59
`
`17
`
`0
`
`59
`
`59
`
`FIG. 7e
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 24 of 29
`
`5,857,174
`
`SINGLE FA10LY RESIDENTIAL COMPARABLE SALE
`
`COKPARABLE SAIE
`
`C
`
`Date of Sale:
`
`December 26, 1994
`
`Location:
`
`Vendor:
`
`Vendee:
`
`Highway 55, Montegut, Louisiana
`
`Carroll Pierre Naquin
`
`Barry Bourgeois
`
`Recordation:
`
`1445/313
`
`Sale Price:
`
`land Size:
`
`$20,000
`
`41,571 SF or 0.954 Acres
`
`Dimensions:
`
`125' x 379.81' x 95' x 376.03'
`
`Unit Price(AC):
`
`$20,957/AC
`
`Unit Price(SF):
`
`$DA8/SF
`
`FIG. 7f
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 25 of 29
`
`5,857,174
`
`SUBJECT'S D U P A A C S ANALYSIS
`
`SUBJECT PROPERTY
`
`INSPECTION DATE January 19, 1995
`
`ACRE SALE PRICE
`
`to be estimated
`
`IDGHEST &: BEST USE - RURAL RESIDENTIAL ACREAGE
`
`Competitive desirability factors:
`
`LOCATION
`To center
`kcess
`
`Grade School
`H~h School
`
`Churches
`Food Stores
`Shopping
`
`Business
`Transportation
`
`(I.P.S.) SEILER APPRAISER
`
`(3D)
`
`28
`
`27
`
`NEIGHBORHOOD
`~ Developed
`Occupancies
`
`Price Range
`hJe
`
`~pearance Protection
`Trends
`
`(10)
`
`10
`
`9
`
`Sewer Mains Phone Service (30)
`FACllJTIES
`Rocks
`Moisture
`City Water
`lV Cable
`Streets
`Frontage Drainage Springs
`Sidewalks Electricity
`Mail DeflVery
`Depth
`Soils
`Ponds
`Shape
`Depth
`Wet keos Curbs Street Lights Garbage Collection
`Topography Texture Erosion
`Storm Drains Gas Mains Po6ce-Fire
`
`28
`
`28
`
`(0)
`
`Carports
`Baths
`Roof
`Kitchen
`Cabinets Exterior
`Equipment Windows
`Storage
`Foundation
`Heating
`Term~es
`Cooling
`Aoors
`Porches
`Ceilings
`
`Insulation Walls
`Interior
`Yard Fencing
`Doors
`Landsca~ng
`Electrical F rua Trees
`Hardware Age BuUdings
`Plumbing Obsolescence
`Septic Tanks
`Condition
`Driveways
`
`o
`
`o
`
`DAPROVED
`Fences
`Wire
`Posts
`Gates
`Clearing
`Pasture
`Wells
`
`Pipelines
`Elee. Unes
`Barns
`Sheds
`Stock Pens
`Residences
`Bedrooms
`
`UTIUTY &: APPEAL
`Trees
`Situation
`
`Elevation
`View
`
`Restrictions
`Size
`
`Appearance
`Zoning
`
`(30)
`
`(0)
`
`28
`
`0
`
`INFLUENCED
`Timber
`Extras
`Fruit
`Equipment
`Crops Minerals
`
`Pressure Competition
`Other Use
`Wide Offering
`Informed
`Ty~cal Terms Demand
`
`TOTAL COMPETITIVE STANDARD'S RATIO =
`
`(100)
`
`94
`
`APPRAISER'S CONCLUSION WAS
`
`FIG. 7g
`
`28
`
`0
`
`92
`
`92
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 26 of 29
`
`5,857,174
`
`SUBJECT PROPERTY DATA
`
`Date of Inspection:
`
`January 19, 1994
`
`wcation:
`
`Vendor:
`
`Vendee:
`
`Land Size:
`
`Dimensions:
`
`Conal and St. Charles Streets, Lafourche Parish, Louisiana 70301
`
`The Grand Lodge of the State of La F&AM
`
`Dantin Motors, Inc.
`
`43,560 SF or 1.000 Acre
`
`This is two lots adjacent to the Purchaser's property. One lot 0.450 fronts on
`St. Charles Street. The other (0.55 Acre) fronts on Canal Street.
`
`FIG. 7h
`
`

`

`u.s. Patent
`
`Jan. 5, 1999
`
`Sheet 27 of 29
`
`5,857,174
`
`D U P A A C S RECONClllATION AND
`SUBJECT'S VALUE ESTIMATE CONCLUSION
`
`Subject
`
`1.00
`
`27
`
`9
`
`28
`
`0
`
`28
`
`0
`
`92%
`
`B
`
`0.928
`
`180'
`
`219'
`
`15
`
`9
`
`27
`
`0
`
`28
`
`B
`
`0.954
`
`125'
`
`380'
`
`10
`
`8
`
`24
`
`0
`
`17
`
`_0_
`
`_0_
`
`79%
`
`59%
`
`92
`
`59
`
`1.56
`
`A
`
`1.128
`
`76'
`
`508'
`
`25
`
`9
`
`22
`
`0
`
`23
`
`_0_
`
`79%
`
`Index
`
`Acres
`
`Land Frontage
`
`Land Depth
`
`Location
`
`Neighborhood
`
`Facilities
`
`Improved
`
`Utility and Appeal
`
`Influenced
`
`I.P.S.
`
`30
`
`10
`
`30
`
`0
`
`30
`
`0
`
`Total Standard Units
`
`100%
`
`Subject's Grade
`
`Comp's Grade
`
`Composite Adj.
`
`Acre Sale Price
`
`Subject's Acre Values
`
`Low was
`High was
`Average was
`
`$32,503/AC
`$33,422/AC
`$32,873/AC
`
`92 ~
`79
`79
`
`1.16
`
`1.16
`
`1128,812
`
`$33,442
`
`x$28z020
`$32,503
`
`)
`
`1$20,957
`
`$32,693
`
`Subject's Conclusion was (Rounded)
`
`Subject site had
`
`$33,000/ Acre
`
`x 1.00 Acre
`
`Subject's Land Value Estimate Indicated was
`FIG. 7i
`
`$33,000 • As is·
`
`

`

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`FIG. 8a
`
`U
`S
`A
`U
`
`A
`A
`.
`A
`A
`SF
`SF
`SF
`SF
`SF
`SF
`SF
`A
`A
`A
`A
`A
`A -----...... 162
`A
`A
`
`COMPARISON
`UNITS OF
`
`112 ( ~~ .. 10 .. 20.~ 116
`/ ~.10 .. 30\00 .. 30 120
`______ 1. N F YA
`(100%)
`110 ---.. INCREYENTS ______ 118 (TYPICAL)
`
`10 .. 15 .. 15 .. 35 .. 25
`15 .. 05 .. 15 .. 35 .. 30
`15 .. 05 .. 15 .. 35 .. 30
`20 .. 05 .. 15 .. 40 .. 20
`10 .. 05 .. 15 .. 35 .. 35
`15 . .10 .. 15 .. 35 .. 25
`25 .. 05 .. 15 .. 30 .. 15
`05 .. 05 .. 10 .. 40 .. 40
`25 .. 05 .. 10 .. 30 .. 30
`25 .. 05 .. 10 .. 30 .. 30
`05 .. 05 .. 10 .. 40 .. 40
`10 .. 05 .. 25 .. 30 .. 30
`20 .. 05 .. 20 .. 35 .. 20
`20 .. 05 .. 15 .. 30 .. 30
`10 .. 05 .. 30 .. 35 .. 20
`20 .. 10 .. 10 .. 30 .. 30
`25 .. 05 .. 10 .. 30 .. 30
`20 .. 10 .. 10 .. 30 .. 30
`10 .. 05 .. 25 .. 35 .. 25
`20 .. 20 .. 10 .. 30 .. 20
`20 .. 05 .. 10 .. 35 .. 30
`20 .. 20 .. 20 .. 30 .. 20
`25 . .10 .. 25 .. 00 .. 40
`25 .. 15 .. 30 .. 00 .. 30
`25 .. 15 .. 30 .. 00 .. 30
`30 .. 10 .. 30 .. 00 .. 30
`114 30 .. 10 .. 30 .. 00.30
`30 .. 10 .. 30 .. 00 .. 30
`
`RIU
`Rls
`R/R
`R/MH
`RiC
`RIApt
`Pk/MH
`O/Pch
`Motel
`Marina
`Grove
`FIM
`F IP
`F /H
`FIG
`BIOF
`BIOD
`B/OC
`B/I
`B/CF
`Bien
`BICC
`A/RW
`A/RU
`AIRS
`A/RR
`All
`AIH
`AIG
`,,---A/A
`USE
`CODE
`
`Residence, Urban
`Residence, Suburban
`Residence, Rural
`Residence, Mobile Home
`Residence. Camp
`Residence. Apartment
`Park. Mobile Home
`Orchard, Peach
`Motel
`Marina
`Grove, Citrus
`Farm, Muck
`Farm. Poultry
`Farm. Horse
`Farm. General
`Building, Office, Fringe
`Building, Office, Drive-in
`Building, Office, Central
`Building, Industrial
`Building, Commercial, Fringe
`Building, CommercIal, Drive-in
`Building, Commercial, Central
`Acreage, Residential, Waterfront
`Acreage, Residential, Urban
`Acreage, Residential, Suburban
`Acreage, Residential, Rural
`Acreage, Industrial
`Acreage, Horsefarm
`Acreage, Grove
`Acreage, Agricultural
`( USE CLASSIFICATIONS
`
`160
`
`DUGAN'S PRE-ADJUSTED APPRAISED COMPARABLE SALES METHOD (D U P A A C S)
`
`136
`
`

`

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`
`FF
`IFF
`FF
`FF
`A
`FF
`FF
`A
`SF
`FF
`SF
`A
`IFF
`SF
`SF
`FF
`SF
`.
`
`FIG. 8b
`
`20 .. 05 .. 10 .. 25 .. 40
`30 .. 10 .. 20 .. 00 .. 40
`25 .. 10 .. 25 .. 00 .. 40
`20 .. 20 .. 30 .. 00 .. 30
`25 .. 15 .. 30 .. 00 .. 30
`30 .. 10 .. 30 .. 00 .. 30
`30 .. 10 .. 30 .. 00 .. 30
`25 .. 10 .. 30 .. 00 .. 35
`25 .. 20 .. 20 .. 00 .. 35
`30 .. 30 .. 10 .. 00 .. 30
`30 .. 10 .. 30 .. 00 .. 30
`30 .. 30 .. 10 .. 00 .. 30
`30 .. 05 .. 15 .. 00 .. 50
`30 .. 05 .. 15 .. 00 .. 50
`30 .. 10 .. 30 .. 00 .. 30
`30 .. 30 .. 10 .. 00 .. 30
`30 .. 10 .. 30 .. 00 .. 30
`30 .. 30 .. 10 .. 00 .. 30
`05 .. 05 .. 20 .. 35 .. 35
`10 .. 05 .. 15 .. 35 .. 35
`
`Sta
`S/Sta
`S/RW
`S/RU
`SiRS
`S/RR
`S/RMH
`SIRC
`S/Rapt
`SIOF
`SIOD
`sioc
`S/M
`S/Mar
`SII
`S/CF
`S/CD
`Sicc
`Resort
`R/w
`
`Station, Service
`Site, Service Station
`Site, Residence, Waterfront
`Site, Residence, Urban
`Site, Residence, Suburban
`Site, Residence, Rural
`Site, Residence, Mobile Home
`Site, Residence, Camp
`Site, Residence, Apartment
`Site, Office, Fringe
`Site, Office, Drive-in
`Site, Office, Central
`Site, Motel
`Site, Marina
`Site, Industrial
`Site, Commercial, Fringe
`Site, Commercial, Drive-in
`Site, Commercial, Central
`Resort
`Residence, Waterfront
`
`

`

`5,857,174
`
`25
`
`1
`REAL ESTATE APPRAISAL METHOD AND
`DEVICE FOR STANDARDIZING REAL
`PROPERTY MARKETING ANALYSIS BY
`USING PRE-ADJUSTED APPRAISED
`COMPARABLE SALES
`
`2
`Hence, the accuracy and reliability of appraisal tech(cid:173)
`niques that rely on sales price, such as the MDA system, is
`highly dependent upon the degree of comparability of each
`property with the subject property, the time at which the sale
`5 was made, the accuracy of the sale data, and the absence of
`unusual conditions affecting the sale, as well as other
`BACKGROUND OF THE INVENTION
`potentially influencing factors. Appraisers try and select
`comparable properties that have the most similarity with the
`1. Field of the Invent