Resort Appraisal
A comprehensive appraisal of the Resort was completed on January 20, 2007. It was performed by Talbert W. Brackett Sr., an eminently qualified and credentialed Appraiser or "Valuator" schooled at the University of Technology, Jamaica West Indies and the University College of Belize.
His appraisal determined the fair market value of Seven Seas Resort to be $3,000,000.00 US Dollars.
Property values have been escalating in San Pedro Town and all of Ambergris Caye for over 10 years with no end in sight. Condominiums are being sold (and presold) as fast as developers can build them.
Recently the magical 3 story limit on buildings was exceeded with the approval of a 4 story project on the south end of the island and they are now springing up all over the island. The legal ability to go one story higher had the immediate effect of raising ALL property values on Ambergris Caye and developers know it is only a matter of time before the height restrictions will be dictated only by Engineering data and with Ambergris Caye being situated on solid rock, the sky is the limit.
TALBERT W.
BRACKETT SR. 20th January, 2007 Mr. Bill Wilkinson Re: Report And Valuation On Parcel 1263, 1262 & 3977/1, Block 7, San Pedro Registration Section, San Pedro Town, Ambergris Caye, Belize District, Belize Dear Sir, At your request, I have examined the subject property in question for estimating the market value as of the 20th day of January, 2007. The Property rights valued are those of the unencumbered fee simple estate and interest. This medium accompanies an attached Valuation Report, which is subject to the qualifying and limiting conditions contained therein. I have personally inspected the subject property and
considered all available factors affecting the property value and do
determine a fair market value of the existing property to be “SAY” THREE
MILLION DOLLARS ($3,000,000.00) UNITED STATES DOLLARS. Respectfully submitted ____________/ signed /___________ TALBERT W. BRACKETT SR. |