218-375 Cook Ave West BPO

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218-375 Cook Ave West 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       37814233                                          Loan Number             n/a
                                                                 Client Project ID       07272010

Client Contact Info
Client     VERTICAL FINANCIAL GROUP                                   Branch             IRVINE,CA
Attention DAVIS, JUDY                                                 Fax/Email          Judy@verticalmtg.com

Subject Property Information
Address: 375 COOK AVE WEST , SAINT PAUL, MN 55117
Borrower/Owner: n/a, n/a                                                             Subject Property Type:         Single Family Dwelling
Is subject vacant? Y                                                                 If vacant, is subject secured? Y
Condition/Curb Appeal: Fair                     Fair                                 Estimated deferred maintenance costs:             $16,000
Has subject been listed in the last 12 months? N                                     Listing Date:                      Listing Price:
Has subject transferred in last 12 months?      No                                   Sale Date: 09/29/1994              Sale Price: $72,000
Subdivision Name: N/A                                                                Market Rent: $900
Is there a guest house? No        Guest house sq ft: N/A                             Is subject a Condo/PUD? No

Neighborhood Information
Location:                  Suburban                                                  Marketing Time for neighborhood: 90
Pride of Ownership:        Good                                                      Neighborhood Demand/Supply:      Oversupply
Neighborhood Price Range: $21,000-$212,000                                           Neighborhood Trend:              Depreciating
Predominant Occupancy:     Owner
Similar Homes Sold Prior Month: 7                                                    # of Listings in Direct Competition: 52
Zoning:                    N/A

Comparable Listings
                                         Subject                               Listing 1                           Listing 2                         Listing 3
Address                         375 COOK AVE WEST                 1099 Mackubin St                    482 Stinson St                    80 Rose Ave W
Data Source                                                       MLS 3906025                         MLS 3925434                       MLS 3943113
# Units                         1                                 1                                   1                                 1
Listing Type                                                      Unspecified                         Unspecified                       Unspecified
Days on Market                  N/A                               13                                  65                                30
List Price                                                        $20,000                             $29,500                           $41,900
Original List Price             $0                                $20,000                             $32,000                           $44,900
Distance (miles)                N/A                               0.29                                0.38                              0.64
Site Size (acres)               0.13                              0.09                                0.12                              0.11
View                            No                                No                                  No                                No
Age                             56                                98                                  98                                93
Condition                       Fair                              Fair                                Fair                              Average
Square Footage                  960                               1014                                816                               841
Bedrooms                        3                                 1                                   3                                 3
Bathrooms                       2                                 2                                   1                                 1
Garage/Pool                     3               No                0           No                      1            No                   1           No
Basement / % Finished           Unfinished      %                 Unfinished %                        Unfinished %                      Unfinished %

Comparable Sales
                                               Subject                          Sale 1                              Sale 2                            Sale 3
Address                          375 COOK AVE WEST                73 Winnipeg Ave                     915 Western Ave N                 297 Maryland Ave W
Data Source                                                       MLS 3868411                         MLS 3881435                       MLS 3863624
# Units                          1                                1                                   1                                 1
Sale Type                                                         REO                                 REO                               REO
Days on Market                   N/A                              17                                  79                                57
List Price                                                        $18,300                             $24,900                           $49,900
Sale Price/Date                                                   $15,000            03/19/2010       $21,000          05/19/2010       $35,000           02/23/2010
Distance (miles)                N/A                               0.73                                0.31                              0.33
Site Size (acres)               0.13                              0.11                                0.09                              0.08
View                            No                                No                                  No                                No
Age                             56                                123                                 111                               74
Condition                       Fair                              Fair                                Fair                              Average
Square Footage                  960                               1040                                941                               960
Bedrooms                        3                                 3                                   2                                 2
Bathrooms                       2                                 1                                   1.5                               1
Garage/Pool                     3          No                     0               No                  1             No                  0              No
Basement / % Finished           Unfinished %                      Unfinished      %                   Unfinished    %                   Unfinished     %

Broker Comp Comments

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

Listing #1: similar condition, location, only one bedroom, no garage
Listing #2: similar condition, location, one less bathroom, one less garage
Listing #3: superior condition, simliar location

Sale #1:   similar condition, location, one less bathroom, no garage
Sale #2:   similar conditon, location, one less bedroom, only one garage
Sale #3:   superior condition, similar size, location

Broker Value Opinion

Normal Market Value                                                 Quick Sale Value
                                     $25,000                                                   $21,000                         As of:    08/02/2010
“As Is”:                                                            “As Is”:
Normal Market Value                                                 Quick Sale Value
“As Repaired”:                       $50,000                        “As Repaired”:             $46,000
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID      37814233                                        Loan Number          n/a
                                                               Client Project ID    07272010


 Additional Broker Comments
The market is declining because of the oversupply of REO properties currently for sale in the immediate location. There were no repairs noted to be needed at
this time. **QC NOTE: This evaluation reflects an REO perspective.




 Exterior Repair Addendum

 Item Category                    Cost to Cure      Comments
 Roof                             $6,000            roof is older and needs to be replaced
 Exterior/Siding                  $10,000           siding is damaged and lacks maintenance, replace. Home is boarded and probably needs new windows as well
 Foundation                       $0
 Construction in Progress         $0
 Outbuildings                     $0
 Yard Maintenance                 $0
 Other                            $0
 Total                            $16,000

 Comparable Location Map




Broker Price Opinion offers a value opinion derived from analysis of local market data and subject property information. Comparable market
data for the area is provided by a local Real Estate Broker. 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 she/he drove by the property and 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    37814233                       Loan Number         n/a
                                           Client Project ID   07272010


Subject Property Satellite Image




Subject Photo




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




Order ID    37814233                 Loan Number         n/a
                                     Client Project ID   07272010


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    37814233                                 Loan Number          n/a
                                                     Client Project ID    07272010

Comparable Listing 1 1099 Mackubin St, SAINT PAUL, MN 55117




Comparable Listing 2 482 Stinson St, SAINT PAUL, MN 55117




Comparable Listing 3 80 Rose Ave W, SAINT PAUL, MN 55117
                                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   37814233                                  Loan Number         n/a
                                                     Client Project ID   07272010

Comparable Sale 1     73 Winnipeg Ave, SAINT PAUL, MN 55117




Comparable Sale 2     915 Western Ave N, SAINT PAUL, MN 55117




Comparable Sale 3     297 Maryland Ave W, SAINT PAUL, MN 55117

				
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