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ADDENDUM Ill/Page 1 of 7 



LAND VALUE ANALYSIS 



FOR 



LINCOLN COUNTY NEVADA 



The figures used in this analysis have come from Lincoln County 

 Realty and the appraisal files of Financial Designs. They are 

 based on the average cost for a two and three bedroom home that 

 is between 15 and 35 years old. The dwellings are located on 



typical city lots. 



The analysis covered a period of time from 1979 to the present. 

 Alamo and Pioche were the exceptions as there was in'suf f icient 



data for the years 79 and 80. 



ALAMO 



The property values in Alamo have decreased approximately 9 

 percent from 1985 to the present. The property values in Alamo 

 peaked in 1982 and declined until 1986. They are now 

 experiencing an upswing which may be due in part to speculation 

 about Aerojet. 



CALIENTE 



The property values in Caliente have decreased approximately 20 

 percent from 1985 to the present. The property values in 

 Caliente peaked in 1985. They have since been declining. 



PANACA 



The property values in Panaca have decreased approximately 26 

 percent from 1985 to the present. The property values in Panaca 

 are now what they were in 1979. The property values peaked in 

 the years of 81 and 82 and have declined from that time to the 

 present . 



PIOCHE 



The property values in Pioche have increased approximately 11 

 percent from 1985 to the present. The property values in Pioche 

 have experienced a recent increase in value. This can be 

 attributable to the influx of retired individuals who have income 

 and like the beauty and quiet that is unique to Pioche. 



