HomeMy WebLinkAboutRESPONSE - RFP - P921 APPRAISAL SERVICES'Xdrt�, A =Sim
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January 5, 2004
City of Fort Collins Purchasing Division
215 N. Mason St, 2nd Floor
PO Box 580
Fort Collins, CO 80522
RE: Appraisal Services Proposal No. P-921.
Dear Sir or Madam:
This is a proposal to provide real estate appraisal services for the City of Fort Collins, in response
to Proposal Number P-921. This proposal is valid for a period of not less than 90 days. This
proposal will attempt to answer the questions presented in your proposal request.
Company History
Appraisal Specialties has been preparing commercial and residential real estate appraisals in the
Fort Collins area for over ten years. We believe in providing quality appraisal products at
reasonable prices in a timely manner. The staff consists of four full time commercial appraisers,
and one residential appraiser who also maintains our commercial database. My firm is large
enough to keep up with the flow of assignments and we have the space to expand if necessary.
I, Harold Sommers, am the president and owner of the firm. I have received the MAI and SRA
designations from the Appraisal Institute and have been appraising in Northern Colorado since
1991. My training includes over five years with the local commercial appraisal firm Shannon &
Associates. My real estate appraisal experience includes:
• Commercial and residential vacant land
• Development land and subdivision analysis
• Single and multi -tenant Office and Office/warehouse
• Single and multi -tenant Retail
• Multi -family apartments of all sizes
• Mobile home parks
• Commercial condominiums
• Single family residential
Other active clients include Wells Fargo Bank, Key Bank, Bank One, Chase Bank, and
Advantage Bank, along with mortgage brokers, attorneys, and private parties.
Course Work
My resume includes a summary of most of the courses taken.
Turn Around Time for Appraisal Assignments
Commercial appraisal assignments are usually completed within three to six weeks of
engagement. The workload varies considerably throughout the year, so please give as much
notice as possible when considering ordering an appraisal. Rush orders are accepted when
possible.
Cost Breakout
I do not have a cost breakout on completing multiple appraisals. Obviously, a discount is in order
if data gathered can be reused for multiple assignments.
,Sample Appraisal Reports
Ralph Campano has a copy of an appraisal that was prepared for a site along Drake Road, and of
three land appraisals prepared for the Mason Street project. If you need additional examples,
please let me know.
Rates to be Charged
My current hourly rate is $100 per hour, with completed appraisal assignments usually costing
between $2,500 and $6,000, depending upon the complexity of the assignment and the detail
required by the client. Support appraisers rates are between $50 and $75 per hour.
My litigation rate is $125 per hour, including preparatory time. The support appraisers' litigation
fee is $100 per hour. These rates are negotiable.
Please contact me if you require any additional information. Thank you for the opportunity to
submit this proposal.
Sincerely,
Harold Sommers, MAI, SRA
CG 01321901 Exp. 12/31/05
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Harald Sommers, MAI, SRA
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Our data sources include Larimer County Records, the local Multiple Listing Service, the
Northern Colorado Commercial Brokers Network, and direct contact with the Realtors active in
the market. We use the best technology, including very high quality computers, digital cameras,
and color printers.
Eminent Domain Experience
My experience in eminent domain is limited to the appraisal of property adjacent to the
realignment of Highway 1, and along Drake Road for the extension of the Spring Creek Trail. I
have taken and passed the Appraisal Institute course 710 "Condemnation Appraising", and
course 520 "Highest and Best Use and Market Analysis". My litigation experience is limited to
the review of a 13 commercial lot appraisal whereas I qualified as an Expert Witness for
Appraisal Review. In this case the court disregarded the original appraisal and instructed me to
prepare a new appraisal on the property. I have also testified as an expert witness as an appraiser
for the appraisal of a single family residence. A recent assignment may require me to testify as an
expert witness for the appraisal of a mixed use commercial property.
I feel that my extensive local appraisal experience, training, and designations outweigh any lack
of eminent domain or litigation experience. I am always willing to work with the City Attorney
and obtain any additional training necessary at my expense.
Rural Property and Open Space Appraisal
Our rural property appraisal assignments include over 900 acres in Red Feather and an operating
Guest Ranch, also in Red Feather. We have extensive experience in residential subdivision
appraisal in areas such as Wellington, Windsor, and Eaton where the Highest and Best Use of a
rural tract has become subdivision development. If the assignment warrants, we can align
ourselves with McCarty Land and Water Valuation for professional assistance. We attended the
Conservation Easement and Tax Benefits seminar presented by Larimer County.
Company Contact
Harold Sommers
References
Tim Ostic
Centennial Bank of the West 204-0505
Commercial and Residential assignments
Since 1998.
Mark Kross
Community First Bank 267-2219
Commercial and Residential assignments
since 1996
C.J. DeWit
Bank of Colorado Estes Park 586-8185
Commercial assignments since 1996
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Harold Sommm, MM, ,SRA
CommereW and Residential Rmt Estate Apprahera