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172- 2415 Alma St. 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       38527466                                          Loan Number              16
                                                                  Client Project ID        PoolOct#1
 Client Provided Data
 Client    VERTICAL FINANCIAL GROUP                                     Loan #          16
 Branch    IRVINE,CA                                                    Attention       GAITA, TERI
 Fax/Email Judy@verticalmtg.com                                         Borrower        RIVERS, COLETTE DENISE
 Address 2415 ALMA ST                                                   Property type   Single Family Dwelling
 City      ALEXANDRIA                                                   State/Zip       LA      71301
 Completed by: George, Audrey                                           Company:        George Real Estate, Llc.               Phone #: (318)793-1020

 Neighborhood Information
 Neighborhood Type                 Urban                                Property Values                      Depreciating
 Price Range                       $20,000-$70,000                      Vandalism/vacant properties          Y
 Marketing time (days)             62                                   Market trend (Appr/Depr %)           -4
 Predominant Occupancy             Owner
 Similar Homes Sold Prior Month    0                                    # of Listings in Direct Competition 47
 Zoning                            N/A

 Subject Property Information
 Curb Appeal                Good                                        Estimate cost to cure deferred maintenance         $500
 Conformity to neighborhood Good                                        Any adverse influences noted (busy street, etc)    No
 Condition                  Good                                        Market Rent                                        $500
 Currently Occupied? Yes/No No                                          If not occupied, is subject secured?               Y
 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:
Tax assessor's office shows that the subject taxes were paid by a third party, Inspirational Enterprises, LLC, 158 Lakeland Drive, Pineville, La 71360, the last
purchase amount and date by the actual buyer is not known.*** The value of 52,090 shown on the tax records may have been the value before the fall of the
economy. But at the present time that is no longer a good value for subject. On Central air conditioning I am assuming it is there, but without walking all around
the property I cannot tell for sure. Our real estate market is slow, still, but in subjects area there are a lot of rental properties and there are very many of them
on the market at this time. Not sure of exactly why the investors are wanting to dispose them. The sales average days on the market are 62, however the
average days of current sales, using the 3 comps above, is an average of 105 days on the market. With the economy in its present condition, and for the last 2
years, the market values have come down. Also, the subjects area is of houses in the 46 + year olds and are not necessarily considered desirable. My values are
based strickly on adding the 3 sale prices used above and dividing that by 3 to get the average market value. The estimated cost to repair is not repairs to the
house, it is just cleaning up the outside to make the curb appeal better. As noted above, the yard needs to be mowed and the house needs to be pressure
washed, simply to make its appearance better. Nice large trees, appears to be a quiet area. Most houses are aged at 40 + years.




 Comparable Listings
                       Subject                      Listing 1                               Listing 2                              Listing 3
 Street Address       2415 ALMA ST                 2311 Madeline                           2327 Jackson Street                    2136 Simmons Street
 City                 ALEXANDRIA                   Alexandria                              Alexandria                             Alexandria
 State/Zip            LA       71301               LA         71301                        LA         71301                       LA         71301
 Data Source                                       MLS C119387                             MLS C121167                            MLS C121503
 # Units              1                            1                                       1                                      1
 Listing Type                                      Unspecified                             Unspecified                            Unspecified
 List Price                                        $49,500                         -2500   $56,500                     -2800      $50,000                       -2500
 Original List Price  $0                           $49,500                                 $56,500                                $50,000
 Days on Market       N/A                          258                                     55                                     1
 Distance (mi)        N/A                          0.2                                0    0.39                            0      1.5                              0
 Neigh. Type          Urban                        Urban                              0    Urban                           0      Urban                            0
 Site Size (Ac)       0.21                         0.18                               0    0.18                            0      0.15                          1300
 View                 No                           No                                 0    No                              0      No                               0
 Design               Ranch                        Ranch                              0    Ranch                           0      Ranch                            0
 Condition            Good                         Good                               0    Good                            0      Good                             0
 Age (Years)          45                           46                                 0    46                              0      46                               0
 Bedrooms             3                            3                                  0    2                            1000      4                            -1000
 Baths                1                            2                              -1000    1                               0      1.5                           -500
 Living Area (s.f.)   1300                         1000                            3000    1400                            0      1766                         -4700
 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               1                            0                                  0    0                               0      0                                0
 Adjusted Values       Net Adj (%)                          -1%                   49000             -3.2%              54700              -14.8%               42600
                       Gross Adj (%)                       13.1%                                     6.7%                                  20%


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

 Listing #1: Subject and comp are equal in style and age, and neighborhood. This comp may be a little smaller than subject but it appears to be cleaner than subject. I used this c
 Listing #2: Comp 2 and subject are equal in several areas, location, style, age and both abandon.
 Listing #3: REO listings for the last 4 months in subjects immediate area are few and far between, so the next best, to me, was a short sale and I had to extend my search area t
                                                         9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38527466                                        Loan Number             16
                                                                  Client Project ID       PoolOct#1

 Comparable Sales

                       Subject                     Sale 1                                    Sale 2                               Sale 3
 Street Address       2415 ALMA ST                408 Bennett St                            2035 Thornton Court                  3368 Halsey St
 City                 ALEXANDRIA                  Alexandria                                Alexandria                           Alexandria
 State/Zip            LA       71301              LA        71301                           LA       71301                       LA        71301
 Data Source                                      MLS C120207                               MLS C119975                          MLS C120513
 # Units              1                           1                                         1                                    1
 Sale Type                                        REO                                       REO                                  REO
 Financing Type                                   Conventional                              FHA                                  Cash
 List Price                                       $27,900                                   $35,900                              $39,900
 Sale Price                                       $29,700                               0   $35,900                          0   $39,900                             0
 Sale Date                                        07/21/2010                            0   08/20/2010                       0   08/27/2010                          0
 Days on Market       N/A                         41                                        98                                   46
 Distance (mi)        N/A                         3.17                                 0    0.76                            0    1.12                               0
 Neigh. Type          Urban                       Urban                                0    Urban                           0    Urban                              0
 Site Size (acres)    0.21                        0.17                                 0    0.23                            0    0.3                            -2000
 View                 No                          No                                   0    No                              0    No                                 0
 Design               Ranch                       Ranch                                0    Ranch                           0    Ranch                              0
 Condition            Good                        Good                                 0    Good                            0    Good                               0
 Age (Years)          45                          46                                   0    46                              0    46                                 0
 Bedrooms             3                           2                                 1000    2                            1000    2                               1000
 Baths                1                           1                                    0    1                               0    1                                  0
 Living Area (s.f.)   1300                        1029                              2700    1274                            0    1520                           -2200
 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               1                           0                                    0    0                               0    1                              -2500
 Adjusted Values       Net Adj (%)                        12.5%                    33400            2.8%                36900            -14.3%                 34200
                       Gross Adj (%)                      12.5%                                     2.8%                                  19.3%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: To be able to use REO's I had to extend my search out beyond the subjects immediate area, thus this comp is 4 miles away. It is smaller but it is also a brick house o
 Sales #2: This comp is comparable to subject in age, style and location. This comp is also close is size as subject, therefore, I consider it equal.
 Sales #3: I consider this comp equal to subject even though this comp is a little larger, but they are same style and age. This comp is a little over 1 mile from subject but I had t

 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
                          11/18/2010

**QC NOTE: In house research was done, but did not find any additional appropriate comps in the same value range as the subject. All comparables chosen
were done so with the utmost care and consideration of all important valuation factors: Size, Bed/Bath, Location, Age, Lot Size and Condition, and are
considered the best substitutes for the subject on the open market.




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

 “As Is” Value:
                                   $36,000                                      $29,000                                     $36,200

 “As Repaired” Value:
                                   $36,000                                      $29,000                                     $36,200

 Exterior Repair Addendum

 Item Category                     Cost to Cure        Comments
 Roof                              $0                  Appears to be ok
 Exterior/Siding                   $0                  Appears to be ok
 Foundation                        $0                  Appears to be ok
 Construction in Progress          $0                  no
 Outbuildings                      $0                  None noticed.
 Yard Maintenance                  $150                Needs mowing
 Other                             $350                House needs to be pressure washed to look better.
 Total                             $500


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    38527466               Loan Number         16
                                   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    38527466                 Loan Number         16
                                     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     38527466                                   Loan Number         16
                                                        Client Project ID   PoolOct#1

Comparable Listing 1 2311 Madeline, Alexandria, LA 71301




Comparable Listing 2 2327 Jackson Street, Alexandria, LA 71301




Comparable Listing 3 2136 Simmons Street, Alexandria, LA 71301
                                                9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38527466                                      Loan Number         16
                                                         Client Project ID   PoolOct#1

Comparable Sale 1     408 Bennett St, Alexandria, LA 71301




Comparable Sale 2     2035 Thornton Court, Alexandria, LA 71301




Comparable Sale 3     3368 Halsey St, Alexandria, LA 71301

				
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