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32- 375 Lakepoint- BPO

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32- 375 Lakepoint- BPO Powered By Docstoc
					                                                        9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID       38331088                                          Loan Number            107
                                                                 Client Project ID      GMAC2OCT2010
Client Provided Data
Client    VERTICAL FINANCIAL GROUP                                     Loan #          107
Branch    IRVINE,CA                                                    Attention       DAVIS, JUDY
Fax/Email Judy@verticalmtg.com                                         Borrower        GILLIAM, MARY
Address 375 LAKEPOINTE DR # 16-102                                     Property type   Condominium
City      ALTAMONTE SPRINGS                                            State/Zip       FL      32701
Completed by: Stamer, Matthew                                          Company:        Exit Realty Central                  Phone #: (407)539-3948

Neighborhood Information
Neighborhood Type                  Suburban                            Property Values                       Depreciating
Price Range                        $18,900-$49,900                     Vandalism/vacant properties           N
Marketing time (days)              85                                  Market trend (Appr/Depr %)            -22
Predominant Occupancy              Owner
Similar Homes Sold Prior Month     5                                   # of Listings in Direct Competition 50
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                                        $800
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      5/12/2006         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 subject area continues to see higher than normal unemployment rates........ There is an oversupply of like properties in this neighborhood. Sales over the last
12 month continue to decline however it has slowed down slightly from the prior years rate. The homes values are a result of the most recent and similar
comparables available in the subject market area. All comparable sales are confirmed closed and are reliable indicators of value. Comparison method used to
arrive at value below. Average pride of ownership. no obvious issues.




Comparable Listings
                      Subject             Listing 1                     Listing 2                                                 Listing 3
Street Address                           16-102
                     375 LAKEPOINTE DR # 320 BLACK OAK CT # 103,       485 FORESTWAY CIR # 107,                                  415 LAKEPOINTE DR # 105,
City                 ALTAMONTE SPRINGS ALTAMONTE SPRINGS               ALTAMONTE SPRINGS                                         ALTAMONTE SPRINGS
State/Zip            FL       32701      FL         32701              FL         32701                                          FL         32701
Data Source                              MLS O4984158                  MLS O4999565                                              MLS O5005085
# Units              1                   1                             1                                                         1
Listing Type                             Unspecified                   Unspecified                                               Unspecified
List Price                               $25,000                 -1200 $38,000               -1900                               $44,500                  -2200
Original List Price  $0                  $25,000                       $38,000                                                   $0
Days on Market       N/A                 10                            59                                                        34
Distance (mi)        N/A                 0.1                         0 0.17                      0                               0.11                         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)          24                  24                          0 24                        0                               24                           0
Bedrooms             2                   2                           0 2                         0                               2                            0
Baths                1                   1                           0 1                         0                               1                            0
Living Area (s.f.)   867                 867                         0 867                       0                               867                          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 (%)                -4.8%           23800          -5%          36100                                       -4.9%            42300
                      Gross Adj (%)               4.8%                           5%                                                       4.9%


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

Listing #1: This comparable is similar in size and location.
Listing #2: This comparable is similar in size and location.
Listing #3: This comparable is similar in size and location. List price appears to be high based on recent sales. Very strong comp equal sq ft and location.
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38331088                                     Loan Number            107
                                                               Client Project ID      GMAC2OCT2010

 Comparable Sales

                       Subject             Sale 1                                       Sale 2                            Sale 3
 Street Address                           16-102
                      375 LAKEPOINTE DR # 320 BLACK OAK CT # 103,                      390 LAKE PLACID CT # 102,         360 LAKE ONTARIO CT # 102,
 City                 ALTAMONTE SPRINGS ALTAMONTE SPRINGS                              ALTAMONTE SPRINGS                 ALTAMONTE SPRINGS
 State/Zip            FL       32701      FL       32701                               FL      32701                     FL      32701
 Data Source                              MLS O4996228                                 MLS O4988476                      MLS O4983899
 # Units              1                   1                                            1                                 1
 Sale Type                                REO                                          REO                               REO
 Financing Type                           Cash                                         Cash                              Cash
 List Price                               $29,900                                      $34,900                           $34,900
 Sale Price                               $27,000                     0                $32,000                    0      $31,000                     0
 Sale Date                                09/02/2010                  0                08/12/2010                 0      07/21/2010                  0
 Days on Market       N/A                 8                                            36                                34
 Distance (mi)        N/A                 0.1                         0                0.16                       0      0.01                        0
 Neigh. Type          Suburban            Suburban                    0                Suburban                   0      Suburban                    0
 Site Size (acres)    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)          24                  24                          0                24                         0      24                          0
 Bedrooms             2                   2                           0                2                          0      2                           0
 Baths                1                   1                           0                1                          0      1                           0
 Living Area (s.f.)   867                 867                         0                867                        0      867                         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%              27000                        0%             32000              0%              31000
                       Gross Adj (%)              0%                                           0%                                0%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: This comparable is similar in size and location.
 Sales #2: This comparable is similar in size and location.
 Sales #3: This comparable is similar in size and location.

 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
                          10/12/2010

**QC NOTE: This evaluation reflects an REO perspective.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:
                                 $30,000                                    $26,000                                   $31,000

 “As Repaired” Value:
                                 $30,000                                    $26,000                                   $31,000

 Exterior Repair Addendum

 Item Category                    Cost to Cure      Comments
 Roof                             $0                N/A
 Exterior/Siding                  $0                N/A
 Foundation                       $0                N/A
 Construction in Progress         $0                N/A
 Outbuildings                     $0                N/A
 Yard Maintenance                 $0                N/A
 Other                            $0                N/A
 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    38331088               Loan Number         107
                                   Client Project ID   GMAC2OCT2010


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    38331088                 Loan Number         107
                                     Client Project ID   GMAC2OCT2010

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   38331088                                Loan Number         107
                                                   Client Project ID   GMAC2OCT2010

Comparable Listing 1 320 BLACK OAK CT # 103,, ALTAMONTE SPRINGS, FL 32701




Comparable Listing 2 485 FORESTWAY CIR # 107,, ALTAMONTE SPRINGS, FL 32701




Comparable Listing 3 415 LAKEPOINTE DR # 105,, ALTAMONTE SPRINGS, FL 32701
                                            9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38331088                                 Loan Number         107
                                                    Client Project ID   GMAC2OCT2010

Comparable Sale 1     320 BLACK OAK CT # 103,, ALTAMONTE SPRINGS, FL 32701




Comparable Sale 2     390 LAKE PLACID CT # 102,, ALTAMONTE SPRINGS, FL 32701




Comparable Sale 3     360 LAKE ONTARIO CT # 102,, ALTAMONTE SPRINGS, FL 32701

				
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Description: 32- 375 Lakepoint- BPO