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333-980 Galloway BPO

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333-980 Galloway 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      37814288                                          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: 980 GALLOWAY , MEMPHIS, TN 38105
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: Good                     Good                                Estimated deferred maintenance costs:             $0
Has subject been listed in the last 12 months? N                                    Listing Date:                      Listing Price:
Has subject transferred in last 12 months?      No                                  Sale Date:                         Sale Price: $0
Subdivision Name: N/A                                                               Market Rent: $300
Is there a guest house? No        Guest house sq ft: N/A                            Is subject a Condo/PUD? No

Neighborhood Information
Location:                  Urban                                                    Marketing Time for neighborhood: 277
Pride of Ownership:        Good                                                     Neighborhood Demand/Supply:      In Balance
Neighborhood Price Range: $10,000-$30,000                                           Neighborhood Trend:              Depreciating
Predominant Occupancy:     Owner
Similar Homes Sold Prior Month: 8                                                   # of Listings in Direct Competition: 4
Zoning:                    N/A

Comparable Listings
                                         Subject                              Listing 1                          Listing 2                      Listing 3
Address                         980 GALLOWAY                     241 LOONEY AVE                      1140 KNEY ST                     679 N FOURTH ST
Data Source                                                      MLS 3196191                         MLS 3193070                      MLS 3199533
# Units                         1                                1                                   1                                1
Listing Type                                                     Unspecified                         Unspecified                      Unspecified
Days on Market                  N/A                              49                                  175                              67
List Price                                                       $20,000                             $30,000                          $30,000
Original List Price             $0                               $20,000                             $30,000                          $30,000
Distance (miles)                N/A                              0.99                                1.25                             1.08
Site Size (acres)               0.14                             0.1                                 0.13                             0.12
View                            No                               No                                  No                               No
Age                             90                               17                                  90                               37
Condition                       Good                             Good                                Good                             Good
Square Footage                  1154                             1294                                1249                             1274
Bedrooms                        2                                4                                   2                                4
Bathrooms                       1                                2                                   1                                1
Garage/Pool                     0              No                0           No                      0           No                   0           No
Basement / % Finished           None           N/A               None        N/A                     None        N/A                  None        N/A

Comparable Sales
                                              Subject                          Sale 1                             Sale 2                         Sale 3
Address                         980 GALLOWAY                     1102 DECATUR ST                    699 SIXTH ST                      391 ASHLAND ST
Data Source                                                      MLS 3175747                        MLS 3168386                       MLS 3176221
# Units                         1                                1                                   1                                1
Sale Type                                                        Unknown                             REO                              Unknown
Days on Market                  N/A                              230                                356                               276
List Price                                                       $29,900                            $10,000                           $21,000
Sale Price/Date                                                  $29,000            03/31/2010      $9,500           04/15/2010       $21,000          06/08/2010
Distance (miles)                N/A                              1.19                               0.94                              0.28
Site Size (acres)               0.14                             0.15                               0.14                              0.13
View                            No                               No                                 No                                No
Age                             90                               18                                 37                                22
Condition                       Good                             Good                               Good                              Good
Square Footage                  1154                             1080                               1222                              1063
Bedrooms                        2                                3                                  4                                 4
Bathrooms                       1                                1                                  1                                 1
Garage/Pool                     0             No                 0               No                 0             No                  0              No
Basement / % Finished           None          N/A                None            N/A                None          N/A                 None           N/A

Broker Comp Comments

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

Listing #1: Normal sale-most comparable
Listing #2: SHORT SALE
Listing #3: SHORT SALE

Sale #1:   Normal sale-most comparable
Sale #2:   REO
Sale #3:   NORMAL SALE

Broker Value Opinion

Normal Market Value                                               Quick Sale Value
                                    $20,000                                                   $15,000                        As of:     08/03/2010
“As Is”:                                                          “As Is”:
Normal Market Value                                               Quick Sale Value
“As Repaired”:                      $20,000                       “As Repaired”:              $15,000
                                                        9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




 Order ID       37814288                                         Loan Number           n/a
                                                                 Client Project ID     07272010


 Additional Broker Comments
There did not apepar to be any major damage to the exterior from the drive by inspection. This subject is located in a low income community where the pride of
ownership is low. This market has been in decline for some time and the reo proeprties have begun to affect the values. The comps used for this report are the
best indicaiotn of the current market and should also tell what will be expected in a sales price. This subject should be marketed to an investor or a ftb and should
be sold "as-is"

SOLD COMP ORIGINAL LIST PRICE IS CORRECT. OFTEN WHEN A GOOD INVESTMENT PROPERTY IS PUT ON THE MARKET THE INVESTORS WILL
BID ON THE PROPERTY. THE MORTGAGE COMPANIES WILL TAKE THE "HIGHEST AND BEST" OFFER AND THIS WILL GENERATE A HIGHER PRICE
THAN THE ORIGINAL LIST PRIC. I CHECKED THE LISTING IN THE MLS AGAIN AND IT IS THE CORRECT INFORMATION

THE COMPS USED FOR THIS REPORT CAN BE CONSIDERED FOR THE REO MARKET REQUESTED. ALTHOUGH ONLY ONE SOLD COMP IS A REO,
THERE ARE 2 LISTING COMPS THAT ARE SHORT SALES AND THESE ARE THE BEST INDICAIOTN OF THE CURRENT MARKET ALONG WITH THE
SOLD COMPS NONE NOTED Good community, good condition Reo/foreclosure properties




 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

 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    37814288                       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    37814288                 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   37814288                                Loan Number          n/a
                                                   Client Project ID    07272010

Comparable Listing 1 241 LOONEY AVE, MEMPHIS, TN 38107




Comparable Listing 2 1140 KNEY ST, MEMPHIS, TN 38107




Comparable Listing 3 679 N FOURTH ST, MEMPHIS, TN 38107
                                             9339 Carroll Park Dr, Suite 100 San Diego, CA 92121 t 858.909.4300 f 858.909.2900 www.hanqual.com




Order ID   37814288                                  Loan Number         n/a
                                                     Client Project ID   07272010

Comparable Sale 1     1102 DECATUR ST, MEMPHIS, TN 38107




Comparable Sale 2     699 SIXTH ST, MEMPHIS, TN 38107




Comparable Sale 3     391 ASHLAND ST, MEMPHIS, TN 38105

				
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