40- 5019 4th Ave S. - BPO by Jorge_Newbery

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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       38527513                                         Loan Number               124
                                                                Client Project ID         PoolOct#1
Client Provided Data
Client    VERTICAL FINANCIAL GROUP                                   Loan #          124
Branch    IRVINE,CA                                                  Attention       GAITA, TERI
Fax/Email Judy@verticalmtg.com                                       Borrower        LANE, MICHAEL G
Address 5019 4TH AVE S                                               Property type   Single Family Dwelling
City      SAINT PETERSBURG                                           State/Zip       FL      33707
Completed by: Gorisek, Steve                                         Company:        NATIONS REAL ESTATE SERVICESPhone #: (239)249-4222
                                                                                                                  INC LOUIS COSTALES

Neighborhood Information
Neighborhood Type                 Suburban                           Property Values                     Depreciating
Price Range                       $10,000-$75,000                    Vandalism/vacant properties         N
Marketing time (days)             180                                Market trend (Appr/Depr %)          -15
Predominant Occupancy             Owner
Similar Homes Sold Prior Month    3                                  # of Listings in Direct Competition 20
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                                        $750
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:
Close to schools, shopping. Average pride of ownership. Mostly REO/short sale driven. Property values have decreased between 15-20% annually. Oversupply
of homes on market including REOs and shortsales continue to drive market values down. Actual market values are well below tax appraisal values.
Comps used were best available based on style, size, function, location and replacement value. All comps are either short sale or REO.
All comps used are in direct competition. none noticed Conforming to neighborhood. Occupied, so average maintenance vs other homes in area that are vacant
and unsecured. Oversupply of like homes.




Comparable Listings
                      Subject                     Listing 1                                Listing 2                            Listing 3
Street Address       5019 4TH AVE S              5125 2nd Ave S                           5140 1st Ave S                       4431 Emerson Ave S
City                 SAINT PETERSBURG            SAINT PETERSBURG                         SAINT PETERSBURG                     SAINT PETERSBURG
State/Zip            FL       33707              FL         33707                         FL         33707                     FL         33707
Data Source                                      MLS 7487133                              MLS 7472669                          MLS 7466977
# Units              1                           1                                        1                                    1
Listing Type                                     Unspecified                              Unspecified                          Unspecified
List Price                                       $22,560                             0    $24,900                        0     $23,400                   0
Original List Price  $0                          $22,560                                  $34,900                              $23,400
Days on Market       N/A                         18                                       120                                  150
Distance (mi)        N/A                         0.15                               0     0.19                          0      0.51                      0
Neigh. Type          Suburban                    Suburban                           0     Suburban                      0      Suburban                  0
Site Size (Ac)       0.15                        0.14                               0     0.13                          0      0.13                      0
View                 No                          No                                 0     No                            0      No                        0
Design               Ranch                       Ranch                              0     Ranch                         0      Ranch                     0
Condition            Average                     Average                            0     Average                       0      Average                   0
Age (Years)          60                          65                                 0     58                            0      56                        0
Bedrooms             2                           2                                  0     2                             0      2                         0
Baths                1                           1                                  0     1                             0      1                         0
Living Area (s.f.)   750                         752                                0     730                           0      801                       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      1                         0
Adjusted Values       Net Adj (%)                          0%                   22560               0%              24900                0%          23400
                      Gross Adj (%)                        0%                                       0%                                   0%


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

Listing #1: REO. Vacant. Less desirable curb appeal, not as well maintained as subject.
Listing #2: Short sale. Superior curb appeal and maintenance. Has a garage.
Listing #3: Short sale. Equal to subject and equivalent replacement to subject.
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38527513                                     Loan Number            124
                                                               Client Project ID      PoolOct#1

 Comparable Sales

                       Subject                    Sale 1                                Sale 2                              Sale 3
 Street Address       5019 4TH AVE S             5151 5th Ave S                        217 54th St S                       4521 11th Ave S
 City                 SAINT PETERSBURG           SAINT PETERSBURG                      SAINT PETERSBURG                    SAINT PETERSBURG
 State/Zip            FL       33707             FL        33707                       FL       33707                      FL        33707
 Data Source                                     MLS 7447188                           MLS 7467659                         MLS 7451303
 # Units              1                          1                                     1                                   1
 Sale Type                                       Shortsale                             REO                                 Shortsale
 Financing Type                                  Cash                                  Cash                                Cash
 List Price                                      $35,000                               $24,900                             $14,900
 Sale Price                                      $28,500                           0   $24,000                         0   $13,750                           0
 Sale Date                                       10/29/2010                        0   09/10/2010                      0   08/18/2010                        0
 Days on Market       N/A                        191                                   77                                  161
 Distance (mi)        N/A                        0.13                              0   0.33                           0    0.69                          3000
 Neigh. Type          Suburban                   Suburban                          0   Suburban                       0    Suburban                         0
 Site Size (acres)    0.15                       0.15                              0   0.15                           0    0.19                             0
 View                 No                         No                                0   No                             0    No                               0
 Design               Ranch                      Ranch                             0   Ranch                          0    Ranch                            0
 Condition            Average                    Average                           0   Average                        0    Average                          0
 Age (Years)          60                         64                                0   70                             0    54                               0
 Bedrooms             2                          2                                 0   2                              0    3                            -1000
 Baths                1                          1                                 0   1                              0    1                                0
 Living Area (s.f.)   750                        768                               0   816                            0    780                              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%                   28500           0%                 24000            14.5%                15750
                       Gross Adj (%)                      0%                                   0%                                  29.1%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: Short sale. Slightly superior property. Slightly better condition and curb appeal. Has a carport
 Sales #2: REO. Equal property. Similar to subject and closest to a replacement property.
 Sales #3: Inferior property. Vacant and needs work according to listing agent.

 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
                          11/16/2010

**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:
                                 $23,000                                    $16,000                                   $23,500

 “As Repaired” Value:
                                 $23,000                                    $16,000                                   $23,500

 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    38527513               Loan Number         124
                                   Client Project ID   PoolOct#1


Location Map




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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    38527513                 Loan Number         124
                                     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    38527513                                 Loan Number         124
                                                     Client Project ID   PoolOct#1

Comparable Listing 1 5125 2nd Ave S, SAINT PETERSBURG, FL 33707




Comparable Listing 2 5140 1st Ave S, SAINT PETERSBURG, FL 33707




Comparable Listing 3 4431 Emerson Ave S, SAINT PETERSBURG, FL 33707
                                              9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38527513                                   Loan Number         124
                                                      Client Project ID   PoolOct#1

Comparable Sale 1     5151 5th Ave S, SAINT PETERSBURG, FL 33707




Comparable Sale 2     217 54th St S, SAINT PETERSBURG, FL 33707




Comparable Sale 3     4521 11th Ave S, SAINT PETERSBURG, FL 33707

								
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