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<br />e <br /> <br />e <br /> <br />VA 721-2955 Ex. 278 (Appraiser) J. R. Rakoe <br /> <br />Resiientia! property next to commercial property enters into <br />"economic Depreciation II property. Would. have to be appraise.. for <br />actual value. It ilS an lIunwri tten rulell or common knowle~e that it <br />i B very hari to p'et a loan in a case like thh. Property 18 definetely <br />loweret in value. Any atvere8 contition connectea to the commercial <br />property, such as a buainees open late with lote of traffic ant noiee <br />1s consiterei an obnoxioul typ. business. <br />Woult not p'ive written statement. consiterinP' it i8 one branch <br />of p'overnment spainst another. <br /> <br />FHA 334-2643 Ex.2662 (Valuation Dept.) Mr. Swanson <br /> <br />Reeitential Property next to commercial pr~ertYt ant within <br />250 feet, lowen in value. Actual apprahal neetd. to ietermine 1II'hat <br />Ii tuation h. When typ. of commercial buslneu va! exple.i.net. lait <br />thh woult poee1bly enter into 223E cateP'ory. which Is a "hip'h risk" <br />loan with ht!"h Intereet rate. Here ~ain the term "unwritten rule1l <br />wall ullet. <br /> <br />Twin City Fe4eral Har-Mar 6]1-1420 Mr. Johnson <br /> <br />Since they only loan the money. they have to .1"0 accortinP'ly with <br />GI or FHA. Sugp'estet p'ettinp' a qualified appraiser. <br /> <br />Which brou,~ht us to the fir!t name he ""a.ve. who i8 too busy at prsent, <br />but ~ave us nBmee of a. half-d..ozen apprai !'Jers from the phone book. <br />Snid they char...e "about $500.00". <br /> <br />Second quallflet appraiser callet. who is alia a prominent <br />Roeeville Real Eetate man. Couli not ~ive a. stat&1ent becauee one of <br />the church officials works for loan company which handles hie loans. <br />He wae ~oot enoU?h to contact five other appraisers he knows (on hie own). <br />Theee charP'e from $200.00 up. Everyone eaii this ie an unwriGten rule. <br />with variations. but relitential property within 250 feet of commercial <br />property iecreaBes 10 to 15 % in value.w <br /> <br />Attorney contactea leit a petition eiP.net by all the people who <br />are concernet ie necessary. which hae alreaty been preBentet (Jan. 13, '69). <br />Aleo en affits.vit, which this ie, ie now presentet on thl! t~. <br />January 27. 1969~ etatin~ all the information we weee able to obtain. <br />