249- 378 Buckingham BPO by Jorge_Newbery

VIEWS: 7 PAGES: 6

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




Order ID       38269599                                         Loan Number                173
                                                                Client Project ID          092710
Client Provided Data
Client    VERTICAL FINANCIAL GROUP                                    Loan #           173
Branch    IRVINE,CA                                                   Attention        GAITA, TERI
Fax/Email Judy@verticalmtg.com                                        Borrower         BEST, HAROLD C
Address 378 BUCKINGHM                                                 Property type    Single Family Dwelling
City      AKRON                                                       State/Zip        OH      44306
Completed by: Pontefract, David                                       Company:         David Pontefract                           Phone #: (330)882-6161

Neighborhood Information
Neighborhood Type                 Suburban                            Property Values                         Stable
Price Range                       $5,000-$25,000                      Vandalism/vacant properties             N
Marketing time (days)             180                                 Market trend (Appr/Depr %)              0
Predominant Occupancy             Tenant
Similar Homes Sold Prior Month    0                                   # of Listings in Direct Competition 5
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                                           $300
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:
Low inventory of homes for sale. Limited inventory within parameters required Diverse styles sizes, ages, and lot sizes in area. I always try to bracket sales,
however sometimes limited sales in area prevent bracketing. Lists can't always be bracketed. List prices of homes do not always reflect sale value. M.L.S. does
not specify if comps are REO or financing used, or ownership type. In order to best reflect an REO perspective, we utilized comparables which represent the
lower-end of the market area price range. none seen central air, family room, porch Low to no demand area, higher police presence, boarded and vacant within a
few blocks




Comparable Listings
                      Subject                     Listing 1                                 Listing 2                               Listing 3
Street Address       378 BUCKINGHM               126 simon                                 419 bruner                              796 mckinley
City                 AKRON                       AKRON                                     AKRON                                   AKRON
State/Zip            OH       44306              OH         44306                          OH         44306                        OH         44306
Data Source                                      MLS 3171610                               MLS 3127298                             MLS 3165228
# Units              1                           1                                         1                                       1
Listing Type                                     Unspecified                               Unspecified                             Unspecified
List Price                                       $9,785                             -500   $10,000                         -500    $11,500                  -600
Original List Price  $0                          $9,785                                    $30,000                                 $11,500
Days on Market       N/A                         8                                         161                                     33
Distance (mi)        N/A                         0.8                                 0     0.09                               0    0.88                        0
Neigh. Type          Suburban                    Suburban                            0     Suburban                           0    Suburban                    0
Site Size (Ac)       0.04                        0.04                                0     0.1                                0    0.11                        0
View                 No                          No                                  0     No                                 0    No                          0
Design               Colonial                    Colonial                            0     Colonial                           0    Condo                       0
Condition            Average                     Average                             0     Average                            0    Average                     0
Age (Years)          93                          94                                  0     101                                0    84                          0
Bedrooms             2                           3                               -1000     2                                  0    2                           0
Baths                1                           1                                   0     1                                  0    1                           0
Living Area (s.f.)   864                         784                                 0     780                                0    834                         0
Basement/ % Finished Unfinished     %            Unfinished     %                    0     Unfinished     %                   0    Unfinished     %            0
Pool                 No                          No                                  0     No                                 0    No                          0
Garage               1                           0                                   0     0                                  0    0                           0
Adjusted Values       Net Adj (%)                        -15.3%                   8285              -5%                    9500            -5.2%           10900
                      Gross Adj (%)                       15.3%                                      5%                                     5.2%


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

Listing #1: Diverse styles in area. Out further than normal for style size and estimated value, mls does not specify if property is reo, or bank owned,
Listing #2: Best comps used to est. value. Limited number of sales / list within radius search
Listing #3: Comparable property of similar value, and attributes all have siding, same basic area type
                                                      9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID         38269599                                     Loan Number            173
                                                               Client Project ID      092710

 Comparable Sales

                       Subject                    Sale 1                                   Sale 2                           Sale 3
 Street Address       378 BUCKINGHM              354 eastland                             393 thornton                     964 mckinley
 City                 AKRON                      AKRON                                    AKRON                            AKRON
 State/Zip            OH       44306             OH         44306                         OH       44306                   OH       44306
 Data Source                                     MLS 3130876                              MLS 3120347                      MLS 3104231
 # Units              1                          1                                        1                                1
 Sale Type                                       Unknown                                  Unknown                          Unknown
 Financing Type                                  Unknown                                  Unknown                          Unknown
 List Price                                      $9,900                                   $9,999                           $14,900
 Sale Price                                      $9,900                               0   $9,999                       0   $10,900                           0
 Sale Date                                       06/28/2010                           0   05/03/2010                   0   07/27/2010                        0
 Days on Market       N/A                        44                                       7                                126
 Distance (mi)        N/A                        0.96                              0      0.95                         0   0.82                              0
 Neigh. Type          Suburban                   Suburban                          0      Suburban                     0   Suburban                          0
 Site Size (acres)    0.04                       0.15                          -2400      0.07                         0   0.11                              0
 View                 No                         No                                0      No                           0   No                                0
 Design               Colonial                   Colonial                          0      Colonial                     0   Colonial                          0
 Condition            Average                    Average                           0      Average                      0   Average                           0
 Age (Years)          93                         81                                0      90                           0   86                                0
 Bedrooms             2                          2                                 0      2                            0   2                                 0
 Baths                1                          1                                 0      2                        -1000   1                                 0
 Living Area (s.f.)   864                        900                               0      924                          0   792                               0
 Basement/ % Finished Unfinished     %           Unfinished     %                  0      Unfinished   %               0   Unfinished   %                    0
 Pool                 No                         No                                0      No                           0   No                                0
 Garage               1                          0                                 0      0                            0   1                                 0
 Adjusted Values       Net Adj (%)                       -24.2%                 7500              -10%              8999            0%                   10900
                       Gross Adj (%)                      24.2%                                   10%                               0%

 Comments regarding the comparability of sales to the subject specifically addressing their overall similarity (equal/superior/inferior)
 Sales #1: Best comps used to est. value. Limited number of sales / list within radius search
 Sales #2: Comparable property of similar value, and attributes all have siding, same basic area type
 Sales #3: Diverse styles in area. Out further than normal for style size and estimated value, mls does not specify if property is reo, or bank owned,

 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
                          9/29/2010 11:04:00 AM

***QC NOTE: Additional in-house research revealed sales from the subject's immediate marketplace that are priced in line with the comps in this report
(these are recent sales that further support our conclusion): 1) 768 Morgan Ave $10,100 (REO) 2) 858 Baird St $10,400. Research further supports that
value estimate provided is in the low end of area comps. Of 23 sales, 22 were $38,000 or less; only the additional comp on Morgan Ave was shown to be an
REO. There are however 11 homes in the area recently bought back by lenders, which can increase REO competition.

THIS ANALYSIS IS COMPLTED FROM AN REO PERSPECTIVE; QUICK SALE VALUE IS EQUIVALENT TO A 30 DAY MARKET VALUE.




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

 “As Is” Value:
                                  $10,000                                    $9,000                                    $10,000

 “As Repaired” Value:
                                  $10,000                                    $9,000                                    $10,000

 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    38269599               Loan Number         173
                                   Client Project ID   092710


Location Map




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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    38269599                 Loan Number         173
                                     Client Project ID   092710

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    38269599                                 Loan Number         173
                                                     Client Project ID   092710

Comparable Listing 1 126 simon, AKRON, OH 44306




Comparable Listing 2 419 bruner, AKRON, OH 44306




Comparable Listing 3 796 mckinley, AKRON, OH 44306
                                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   38269599                                   Loan Number         173
                                                      Client Project ID   092710

Comparable Sale 1     354 eastland, AKRON, OH 44306




Comparable Sale 2     393 thornton, AKRON, OH 44306




Comparable Sale 3     964 mckinley, AKRON, OH 44306

								
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