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12- 461 W Holmes Ave- BPO

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					                                                       9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID       38527488                                         Loan Number                68
                                                                Client Project ID          PoolOct#1
Client Provided Data
Client    VERTICAL FINANCIAL GROUP                                    Loan #           68
Branch    IRVINE,CA                                                   Attention        GAITA, TERI
Fax/Email Judy@verticalmtg.com                                        Borrower         VALDEZ, RUSSELL ERIK
Address 461 W HOLMES AVE UNIT 385                                     Property type    Condominium
City      MESA                                                        State/Zip        AZ    85210
Completed by: Golansky-az, Ronald                                     Company:                                            Phone #: (703)898-5354

Neighborhood Information
Neighborhood Type                 Suburban                            Property Values                     Depreciating
Price Range                       $13,800-$59,000                     Vandalism/vacant properties         N
Marketing time (days)             109                                 Market trend (Appr/Depr %)          -22.2
Predominant Occupancy             Owner
Similar Homes Sold Prior Month    1                                   # of Listings in Direct Competition 3
Zoning                            N/A

Subject Property Information
Curb Appeal                Average                                    Estimate cost to cure deferred maintenance        $0
Conformity to neighborhood Appropriate Improvement                    Any adverse influences noted (busy street, etc)   No
Condition                  Average                                    Market Rent                                       $450
Currently Occupied? Yes/No Yes                                        If not occupied, is subject secured?
Is there a guest house?    No                                         Guest House Sq Ft                                 N/A
Subdivision Name           N/A
Current Listing and Five Year Sale History
Subject currently listed? N           Listed in last 12 mos.?         N                Listing date                       Listing price
MLS # N/A                             Listing Agency N/A                                                                  Agency Phone # N/A

      Previous Sale Price         Previous Sale Date         Buyer                                             Seller




Neighborhood and Subject Property Comments:
The market area is declining due the many short sales and REOs. Crime is low in this area, there are no noticeable hazards. The subject was in average repair.
No repairs are necessary to sell as-is.
The subject market value is based on the comparables in the area and current market conditions.
Tax assessed value is higher than the current market value as they are always a year behind current market values, and the market has been declining.
To obtain the best and closest comparables from the condominium community we were unable to bracket the Above Grade Square Footage and lot size.
There were 3 closed and 3 active comparables within 1 mile of the subject property. All 6 comparables were used in this report. No deferred maintenance
noticed that needs attention. Subject is found to be in average condition, no repairs are necessary. No functional or external obsolescence noted. Oversupply of
homes on the market, short sales and REO activity are decreasing values.




Comparable Listings
                      Subject            Listing 1                                          Listing 2                  Listing 3
Street Address                          461 W
                     461 W HOLMES AVE UNIT 385HOLMES AVE 349                               461 W HOLMES AVE 362       461 W HOLMES AVE 162
City                 MESA               MESA                                               MESA                       MESA
State/Zip            AZ       85210     AZ         85210                                   AZ         85210           AZ         85210
Data Source                             MLS 4470140                                        MLS 4445532                MLS 4388160
# Units              1                  1                                                  1                          1
Listing Type                            Unspecified                                        Unspecified                Unspecified
List Price                              $17,000                                     -800   $24,900              -1200 $39,900                               -2000
Original List Price  $0                 $25,000                                            $24,900                    $35,000
Days on Market       N/A                58                                                 86                         188
Distance (mi)        N/A                0                                           0      0                        0 0                                        0
Neigh. Type          Suburban           Suburban                                    0      Suburban                 0 Suburban                                 0
Site Size (Ac)       0.01               0.01                                        0      0.01                     0 0.01                                     0
View                 No                 No                                          0      No                       0 No                                       0
Design               Condo              Condo                                       0      Condo                    0 Condo                                    0
Condition            Average            Average                                     0      Average                  0 Average                                  0
Age (Years)          27                 27                                          0      27                       0 27                                       0
Bedrooms             1                  1                                           0      1                        0 1                                        0
Baths                1                  1                                           0      1                        0 1                                        0
Living Area (s.f.)   570                570                                         0      520                      0 520                                      0
Basement/ % Finished None           N/A None           N/A                          0      None           N/A       0 None           N/A                       0
Pool                 No                 No                                          0      No                       0 No                                       0
Garage               0                  0                                           0      0                        0 0                                        0
Adjusted Values       Net Adj (%)               -4.7%                           16200               -4.8%       23700          -5%                         37900
                      Gross Adj (%)              4.7%                                                4.8%                       5%


Comments regarding the comparability of listings to the subject specifically addressing their overall similarity (equal/superior/inferior)

Listing #1: Comparable is in similar in condition when compared to the subject. Comps have similar basic amenities as subject. Comp is Most Similar overall to the subject.
Listing #2: Comparable selected was found to be the most recent, similar and proximate to the subject. Comparable considered to be similar in style and utility.
Listing #3: Comparable selected was found to be the most recent, similar and proximate to the subject. Comparable considered to be similar in style and utility.
                                                       9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38527488                                      Loan Number            68
                                                                Client Project ID      PoolOct#1

 Comparable Sales

                       Subject            Sale 1                                          Sale 2                            Sale 3
 Street Address                          461 W
                      461 W HOLMES AVE UNIT 385HOLMES AVE 218                            461 W HOLMES AVE 333              461 W HOLMES AVE 234
 City                 MESA               MESA                                            MESA                              MESA
 State/Zip            AZ       85210     AZ       85210                                  AZ      85210                     AZ      85210
 Data Source                             MLS 4418014                                     MLS 4360164                       MLS 4350540
 # Units              1                  1                                               1                                 1
 Sale Type                               ArmsLength                                      REO                               ArmsLength
 Financing Type                          Cash                                            Cash                              Cash
 List Price                              $15,900                                         $16,900                           $20,000
 Sale Price                              $15,700                                     0   $16,913                  0        $18,000                              0
 Sale Date                               07/30/2010                                  0   06/11/2010               0        05/17/2010                           0
 Days on Market       N/A                348                                             65                                168
 Distance (mi)        N/A                0                                          0    0                        0        0                                   0
 Neigh. Type          Suburban           Suburban                                   0    Suburban                 0        Suburban                            0
 Site Size (acres)    0.01               0.01                                       0    0.01                     0                                            0
 View                 No                 No                                         0    No                       0         No                                 0
 Design               Condo              Condo                                      0    Condo                    0         Condo                              0
 Condition            Average            Average                                    0    Average                  0         Average                            0
 Age (Years)          27                 29                                         0    25                       0         27                                 0
 Bedrooms             1                  1                                          0    1                        0         1                                  0
 Baths                1                  1                                          0    1                        0         1                                  0
 Living Area (s.f.)   570                520                                        0    570                      0         570                                0
 Basement/ % Finished None           N/A None         N/A                           0    None        N/A          0         None           N/A                 0
 Pool                 No                 No                                         0    No                       0         No                                 0
 Garage               0                  0                                          0    0                        0         0                                  0
 Adjusted Values       Net Adj (%)               0%                             15700            0%           16913                   0%                   18000
                       Gross Adj (%)             0%                                              0%                                   0%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: Comparable selected was found to be the most recent, similar and proximate to the subject. Comparable considered to be similar in style and utility.
 Sales #2: Comparable selected was found to be the most recent, similar and proximate to the subject. Comparable considered to be similar in style and utility.
 Sales #3: Comparable is in similar in condition when compared to the subject. Comps have similar basic amenities as subject. Comp is Most Similar overall to the subject.

 RECONCILIATION
 Based upon the description of the subject and the market data presented within the report, LPS Valuation Solutions has derived values based on the following
 market conditions as of: 03/23/2009
                          11/17/2010

**QC NOTE: This evaluation reflects an REO perspective. Most consideration/weight given to sale #2 which was REO. For the purpose of this report, the quick
sale value ratio equates to a more conservative (30 day) perspective.




                                  Reconciled Market Sale Value               Reconciled Quick Sale Value                Broker’s Value

 “As Is” Value:
                                  $16,700                                     $12,500                                   $16,700

 “As Repaired” Value:
                                  $16,700                                    $12,500                                    $16,700

 Exterior Repair Addendum

 Item Category                    Cost to Cure       Comments
 Roof                             $0
 Exterior/Siding                  $0
 Foundation                       $0
 Construction in Progress         $0
 Outbuildings                     $0
 Yard Maintenance                 $0
 Other                            $0
 Total                            $0


Field Expert offers an opinion of value by combining a local broker’s price opinion (BPO), as filtered through LPS’ Field Expert rules-based
valuation model, and scrutinized by an LPS quality-control analyst, along with LPS’ own extensive data, and external research resources.
Information on the subject property is obtained via MLS, county records, personal files, or it may be provided to LPS by the client. In some cases,
information on the subject property may be limited or unavailable. In these instances, the information is provided by the Real Estate Professional's
exterior physical inspection of the subject. The report is based upon data that LPS deems reliable, however, no guarantee or warranty is provided.
LPS does not provide opinions on, nor assume responsibility for the existence of any environmental, structural, or title related defects associated
with the subject property. This analysis and evaluation of an interest in real property for ownership or collateral purposes is
prepared for the above named financial institution to be used for internal purposes only. This document is not an appraisal and
is intended for use only for loan transactions valued at $250,000 or less, as required by Title XI of FIRREA. The agent submitting
this report represents that he/she drove by the subject property and that he/she has no interest in the property.
           
Notwithstanding any preprinted language to the contrary, this opinion is not an
appraisal of the market value of the property. If an appraisal is desired, the
services of a licensed or certified appraiser must be obtained.
                           9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID    38527488               Loan Number         68
                                   Client Project ID   PoolOct#1


Location Map




                       This map can be viewed interactively by clicking here.




Satellite Image
                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID    38527488                 Loan Number         68
                                     Client Project ID   PoolOct#1

Subject Photo




Street Scene Photo




Address Verification Photo
                                           9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38527488                                Loan Number         68
                                                   Client Project ID   PoolOct#1

Comparable Listing 1 461 W HOLMES AVE 349, MESA, AZ 85210




Comparable Listing 2 461 W HOLMES AVE 362, MESA, AZ 85210




Comparable Listing 3 461 W HOLMES AVE 162, MESA, AZ 85210
                                            9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38527488                                 Loan Number         68
                                                    Client Project ID   PoolOct#1

Comparable Sale 1     461 W HOLMES AVE 218, MESA, AZ 85210




Comparable Sale 2     461 W HOLMES AVE 333, MESA, AZ 85210




Comparable Sale 3     461 W HOLMES AVE 234, MESA, AZ 85210
                       9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




OrderID     38527488            Loan Number           68
                                Client Project ID     PoolOct#1
 
Additional Photo




 
Arizona Regional MLS - Maricopa County Tax Report - 461 W HOLME...                                                             http://armls.imapp.com/ilinks/search



                        Arizona Regional MLS - IMAPP

                        Maricopa County Tax Report - 461 W HOLMES AVE UNIT 385, MESA, AZ 85210-5150


             PROPERTY INFORMATION
          APN: 134-22-465-A
          MCR # 23132
          Property Type: Residential
          Property Address:
          461 W HOLMES AVE UNIT 385
          MESA, AZ 85210-5150
          Maricopa County
          Current Owner:
          RUSSELL E VALDEZ
          Tax Mailing Address:
          2322 KYLIE CT
          SPRING, TX 77386-3321

          Legal Class:
          OWNER OCCUPIED RESIDENTIAL
          Land Areas:
          1. CONDO/TH GRADE 070-3, COMM
          AREA NOT PRCLD
          Lot Size: 0.01 acres / 557 sf
          County Zoning: M-H / MULTI-
          FAMILY, HIGH DENSITY (UP TO
          2,499 SF) (100.00%)
          City Zoning: R-4 / RESDIENTIAL
          WITH 4,000 SF MINIMUM (100.00%)
          Subdivision:
          CIRCLE TREE CONDOMINIUMS
          Twn: 1N / Rng: 5E / Sec: 33
          Block: / Lot: 385
          Census Tract: 422203 Block: 1001
          Lat: 33.388481 Lon: -111.843012
          Legal Description:
          CIRCLE TREE CONDOMINIUMS MCR 231-32 UNIT
          385 TOG W /AN UNDIV .321% INT IN THE
          COMMON ELEMENTS


                                    SUBDIVISION DETAILS FOR CIRCLE TREE CONDOMINIUMS
          Improved Lots: 256          With Pool: 0 (0%)               1 story: 256        3 story: 0                Average House Size
          Year Built Range: 1981 to 1985                              2 story: 0          4 story: 0          750 sf 4 rooms    5 fixtures

                                     TAX VALUATION INFORMATION (TAX AREA = 041000)
                                              2007 Final          2008 Final         2009 Final        2010 Final              2011 Prelim
           Full Cash Improved:                  $36,800             $51,600            $43,600            $36,000                  $16,800
           Full Cash Land:                       $9,200             $12,900            $10,900             $9,000                   $4,200
           Full Cash Total:                     $46,000             $64,500            $54,500            $45,000                  $21,000
           Percent Change:                        - n/a -            40.22%             -15.5%           -17.43%                  -53.33%
           Limited Full Cash:                   $46,000             $46,650            $51,315            $45,000                  $21,000
           Total Assessed Value:                 $4,600               $6,450             $5,450            $4,500                   $2,100
           Tax Amount:                             $280.66            $323.78            $344.60         $318.22        County Treasurer
                                                             SALES INFORMATION
          Deed Type                   Sale Date Price        Down      Mtg Amt     Financing                               Document #
          W ARRANTY DEED                   8/1/03    $41,300      $500     $31,300        Fannie Mae                            031036728
          Buyer: RUSSELL E VALDEZ                  Seller: MELISSA M MCADOO        Mtg Company: MERITAGE MORTGAGE CORPORATION
          W ARRANTY DEED                 9/19/00        $41,000           $1,230       $40,450             FHA                    000719493
          Buyer: MELISSA M LIME                    Seller: CHARLES C GRILL         Mtg Company: KEYSTONE MORTGAGE & INVESTMENT COMPANY
          SPECIAL W ARRANTY DEED         2/10/95        $23,200              $0        $22,500             FHA                    950076935
          Buyer: CHARLES C GRILL                   Seller: HUD                     Mtg Company: INLAND MORTGAGE CORP
          DEED                          11/22/94                 $0          $0             $0                                    940829376
          Buyer: HUD                               Seller: ZIONS MTG CO            Mtg Company: NO NEW MORTGAGE
          SPECIAL W ARRANTY DEED        11/10/94                 $0          $0             $0                                    940803904



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Arizona Regional MLS - Maricopa County Tax Report - 461 W HOLME...                                                                                http://armls.imapp.com/ilinks/search


          Buyer: HUD                                        Seller: ZIONS MTG CO           Mtg Company: NO NEW MORTGAGE
          TRUSTEES DEED UPON SALE       10/25/94                  $36,177             $0               $0                                            940765482
          Buyer: ZIONS MORTGAGE CO                          Seller: SMITH                  Mtg Company: NO NEW MORTGAGE
          DEED                           9/10/91                        $0            $0               $0                                            910421397
          Buyer: HUD                                        Seller:                        Mtg Company:
          DEED                           4/10/91                  $32,891             $0               $0                                            910151424
          Buyer: ANDREW T & SHARON C SCHIEFER               Seller: SMITH                  Mtg Company: NO NEW MORTGAGE
          DEED                            4/4/89                  $39,000             $0        $33,150                  FHA                         890151686
          Buyer: ALBERT L SMITH                             Seller:                        Mtg Company: ALPINE MORTGAGE COMPANY
          DEED                           3/14/89                        $0            $0               $0                                            890115823
          Buyer: ANDREW SCHIEFER                            Seller:                        Mtg Company:
          DEED                            6/9/87                  $40,180             $0               $0      Assmpt of Exist Loan                  870364307
          Buyer: RANDOLPH CHRISTIAN                         Seller:                        Mtg Company:
          DEED                          11/14/86                  $41,000             $0               $0                                            860629669
          Buyer: CARL TOMA                                  Seller:                        Mtg Company:
          DEED                           4/23/86                  $40,876             $0               $0                                            860197431
          Buyer: TIMOTHY GSTOHL                             Seller:                        Mtg Company:

                                                                      BUILDING INFORMATION
           1. CONDO/TH GRADE 070-3, COMM AREA NOT PRCLD                            Rooms: 3 Fixtures: 3 Area: 570 sf Built: 1983 Stories: 1.00
                 Class:                   R3, AVERAGE             Construction:         Wood Frame           Patios:                       NONE
                 Quality:                 FAIR                    Pool:                 No                   Covered Parking:              Carport - 1 cars
                 Roof Material:           Built up - Flat         Added Value:          None                 Land Premium:                 None
                 Heat: Y                                          A/C: Refrigeration                         Added Area: None

                                                                        SCHOOL DISTRICTS
            Elementary:                                        MESA UNIFIED DIST. #4
            Secondary:                                         MESA UNIFIED DIST. #4

                                                                       FLOOD ZONE DETAILS
           Panel: FIRM            Zone: X1 (Areas between limits of the 100-year flood and 500-year flood; certain areas subject to 100-year flooding with
           04013C2190G           average depths less than one (1) foot or where the contributing drainage area is < 1 sq. mi.; or areas protected by levees from
                                 base flood.)
          Source: Flood Control District of Maricopa County, July 2010

                                 © iMapp, Inc, 2010 | Information is believed accurate but not guaranteed. Buyer to verify all information.
                                             User Guide | For support, e-mail support@imapp.com or call toll free 877-288-9606




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Description: 12- 461 W Holmes Ave- BPO.