Docstoc

90- 1575 NE 33rd- BPO

Document Sample
90- 1575 NE 33rd- 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       38331107                                          Loan Number            152
                                                                 Client Project ID      GMAC2OCT2010
Client Provided Data
Client    VERTICAL FINANCIAL GROUP                                    Loan #           152
Branch    IRVINE,CA                                                   Attention        DAVIS, JUDY
Fax/Email Judy@verticalmtg.com                                        Borrower         FERNANDEZ, CARLOS M
Address 1575 NE 33RD AVE UNIT 107                                     Property type    Condominium
City      HOMESTEAD                                                   State/Zip        FL      33033
Completed by: Stettner, Danielle                                      Company:         Ibis Realty                          Phone #: (754)484-0024

Neighborhood Information
Neighborhood Type                  Suburban                           Property Values                       Depreciating
Price Range                        $40,000-$80,000                    Vandalism/vacant properties           N
Marketing time (days)              90                                 Market trend (Appr/Depr %)            -12
Predominant Occupancy              Owner
Similar Homes Sold Prior Month     3                                  # of Listings in Direct Competition 35
Zoning                             N/A

Subject Property Information
Curb Appeal                Good                                       Estimate cost to cure deferred maintenance         $0
Conformity to neighborhood Good                                       Any adverse influences noted (busy street, etc)    No
Condition                  Good                                       Market Rent                                        $1,200
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? Y           Listed in last 12 mos.? N                        Listing date      03/20/2010         Listing price  $59,900
MLS # N/A                             Listing Agency JULIO DIAZ                                                             Agency Phone # (305)595-8447

      Previous Sale Price         Previous Sale Date          Buyer                                             Seller




Neighborhood and Subject Property Comments:
Due to an extensive oversupply of inventory, stricter lending guidelines, an increase of foreclosures in subject area and a slow market, property values have
significantly declined and inventory spends longer days on market.

SUBJECT IS LOCATED IN REO DRIVEN MARKET ALL SOLD COMPS WERE REO SALES. LIST COMPS 1 AND 2 ARE REO LISTINGS. NONE NOTED
Subject in good condition and conforms to neighborhood No adverse conditions were noted at the time of inspection based on exterior observations, unable to
determine possible interior repairs. A more comprehensive analysis of subject's components may be obtained via a licensed inspector.




Comparable Listings
                      Subject             Listing 1                                     Listing 2                            Listing 3
Street Address                          1720 NE
                     1575 NE 33RD AVE UNIT 107 33 AV # 112-5                           3350 NE 13 DR # 108-21               1595 NE 33 RD # 109-3
City                 HOMESTEAD          HOMESTED                                       HOMESTED                             HOMESTED
State/Zip            FL       33033     FL          33033                              FL         33033                     FL         33033
Data Source                             MLS M1417569                                   MLS M1410680                         MLS D1393432
# Units              1                   1                                             1                                    1
Listing Type                             Unspecified                                   Unspecified                          Unspecified
List Price           $59,900             $59,000                                 -5900 $59,900                        -5990 $59,900                             -5990
Original List Price  $59,900             $59,000                                       $59,900                              $59,900
Days on Market       N/A                 33                                            10                                   37
Distance (mi)        N/A                 0.05                                        0 0.19                               0 0.06                                    0
Neigh. Type          Suburban            Suburban                                    0 Suburban                           0 Suburban                                0
Site Size (Ac)                                                                       0                                    0                                         0
View                 No                  No                                          0 No                                 0 No                                      0
Design               Condo               Condo                                       0 Condo                              0 Condo                                   0
Condition            Good                Good                                        0 Good                               0 Good                                    0
Age (Years)          4                   4                                           0 5                                  0 4                                       0
Bedrooms             3                   2                                        1000 3                                  0 3                                       0
Baths                2                   2                                           0 2                                  0 2                                       0
Living Area (s.f.)   1169                1069                                        0 1169                               0 1234                                    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 (%)                -8.3%                           54100          -10%                  53910          -10%                       53910
                      Gross Adj (%)              11.7%                                          10%                                   10%


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

Listing #1: REO. Comp one is inferior in size
Listing #2: CREO. omp two is similar in size and age
Listing #3: Short Sale. Comp three is superior in size
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38331107                                     Loan Number            152
                                                               Client Project ID      GMAC2OCT2010

 Comparable Sales

                       Subject             Sale 1                                       Sale 2                             Sale 3
 Street Address                          1485 NE
                      1575 NE 33RD AVE UNIT 107 33 RD # 108-1                          1395 NE 33 AV # 108-26             1690 NE 33 AV # 108-6
 City                 HOMESTEAD          HOMESTED                                      HOMESTED                           HOMESTED
 State/Zip            FL       33033     FL         33033                              FL      33033                      FL      33033
 Data Source                             MLS D1405075                                  MLS M1405664                       MLS M1394090
 # Units              1                  1                                             1                                  1
 Sale Type                               REO                                           REO                                REO
 Financing Type                          Conventional                                  Conventional                       Conventional
 List Price           $59,900             $59,900                                      $48,500                            $70,000
 Sale Price                               $59,000                                  0   $50,100                        0   $65,000                           0
 Sale Date                                09/29/2010                               0   09/30/2010                     0   08/23/2010                        0
 Days on Market       N/A                 22                                           34                                 48
 Distance (mi)        N/A                 0.06                                     0   0.15                          0    0.04                              0
 Neigh. Type          Suburban            Suburban                                 0   Suburban                      0    Suburban                          0
 Site Size (acres)                                                                 0                                 0                                      0
 View                 No                  No                                       0   No                            0    No                                0
 Design               Condo               Condo                                    0   Condo                         0    Condo                             0
 Condition            Good                Good                                     0   Good                          0    Good                              0
 Age (Years)          4                   4                                        0   5                             0    4                                 0
 Bedrooms             3                   3                                        0   3                             0    3                                 0
 Baths                2                   2.5                                   -500   2.5                        -500    2                                 0
 Living Area (s.f.)   1169                1169                                     0   1169                          0    1234                              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 (%)                -0.8%                        58500           -1%               49600            0%                    65000
                       Gross Adj (%)               0.8%                                        1%                                 0%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: REO. Comp one is similar in size and age
 Sales #2: REO. Comp two is similar in size and age
 Sales #3: REO. Comp three is superior in size

 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
                          10/14/2010

QC NOTE: The current analysis is completed from an REO perspective. *The QUICK SALE VALUE* equals a 30 day REO Value.




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

 “As Is” Value:
                                 $53,000                                    $42,000                                   $50,000

 “As Repaired” Value:
                                 $53,000                                    $42,000                                   $50,000

 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    38331107               Loan Number         152
                                   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    38331107                 Loan Number         152
                                     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    38331107                                 Loan Number         152
                                                     Client Project ID   GMAC2OCT2010

Comparable Listing 1 1720 NE 33 AV # 112-5, HOMESTED, FL 33033




Comparable Listing 2 3350 NE 13 DR # 108-21, HOMESTED, FL 33033




Comparable Listing 3 1595 NE 33 RD # 109-3, HOMESTED, FL 33033
                                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38331107                                  Loan Number         152
                                                     Client Project ID   GMAC2OCT2010

Comparable Sale 1     1485 NE 33 RD # 108-1, HOMESTED, FL 33033




Comparable Sale 2     1395 NE 33 AV # 108-26, HOMESTED, FL 33033




Comparable Sale 3     1690 NE 33 AV # 108-6, HOMESTED, FL 33033

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:8
posted:5/4/2011
language:English
pages:6