10-10 BPO

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					                                                        4600 South Syracuse Street, Suite 800 Denver, CO 80237                               BROKER PRICE OPINION
                                                        Phone (303) 770-1976     Fax (303) 793-0769                                        Exterior Inspection                 Interior Inspection


 Property Address: 10 MATTS RD                                                                                        IAS Order #:         1457834
 City, State, Zip:       FOX LAKE, IL 60020                                                                           Project ID:          AHP050211
 Loan:                   10                                                                                           Mortgagor:           UNKNOWN,
 2nd Loan/Client #:      AmericanPres                                                                                 Investor #:


SUBJECT PROPERTY                                   Occupancy Status:                VACANT            OCCUPIED                         Property Appears Secure?                   YES           NO

                         Currently                                                                          Date Last      Last Sold       Previous Previous List                             Taxes
        Location                                 Current List Broker                List Broker Phone                                                                         Taxes
                          Listed                                                                              Sold          Amount         List Date  Amount                                Delinquent
        Suburban              NO                                                                             07/30/04       $140,000       11/18/2000    $234,900        $6,006.12      $0.00

         APN#:     0509406005                                                  Special Assessments:       $0.00

Subject Comments:
Please see the subject comments addendum page.



HOA Name:                                                  HOA Fees:                              HOA Assessments:                                          HOA Frequency:
       Property Info                Subject              Sold Comp 1            Sold Comp 2             Sold Comp 3                 Listed Comp 1            Listed Comp 2             Listed Comp 3




Address                   10 MATTS RD              576 Red Spruce Trail   37395 Piper Lane        8520 Cedar Street          2150 N. Millstone Drive    1008 Oak Tree Trail       602 Knollwood Road

Zip                       60020                    60046                  60046                   60020                      60046                      60046                     60020

Proximity                                          5.51 Mile              3.29 Mile               8.20 Mile                  6.47 Mile                  6.50 Mile                 5.00 Mile

Subdivision               Eagle Point Inland       Pine View Estates      Orchard Gardens         Hickory Cove               Sweetwater Mills           Oaktree                   Knollwood

MLS Number                                         07709267               05014020270000          07632736                   07761622                   07705322                  07742084

Data Source               MLS                      MLS                    MLS                     MLS                        MLS                        MLS                       MLS

Sale Type                 Fair Market              Short Sale             Fair Market             Short Sale                 Fair Market                Short Sale                Short Sale

Orig List Date            11/18/2000               01/11/11               08/25/10                09/13/10                   03/23/11                   01/07/11                  03/01/11

Orig List Price           $234,900                 $189,900               $159,900                $214,900                   $199,500                   $212,000                  $165,000

Current List Date                                                                                                            05/05/2011                 05/04/2011                05/04/2011

Current List Price                                                                                                           $189,000                   $179,900                  $165,000

Sale Date                                          04/12/11               12/03/10                04/26/11

List Price at Sale                                 $189,900               $159,900                $159,000

Sale Price                                         $170,000               $158,000                $159,000

Seller Concessions                                 $0.00                  $0.00                   $0.00

DOM (Curr / Total)        /                        94 / 32                16 / 16                 76 / 171                   25 / 43                    80 / 118                  65 / 65

Num of Units              1                        1                      1                       1                          1                          1                         1

PropertyType              Single Family Detached Single Family Detached Single Family Detached Single Family Detached Single Family Detached Single Family Detached Single Family Detached

Property Style            2 Story                  2 Story                2 Story                 2 Story                    Split                      2 Story                   1 Story

Condition                 Good                     Good                   Good                    Good                       Good                       Good                      Good

Year Built                2006                     1999                   1960                    1996                       1993                       1991                      1995

Lot Size                  8749.00 Sq.Ft.           11761.00 Sq.Ft.        9000.00 Sq.Ft.          8472.00 Sq.Ft.             8276.00 Sq.Ft.             7682.00 Sq.Ft.            35284.00 Sq.Ft.

Above Grade Room Count    4/2/0/1                  4/2/0/1                4/3/0/0                 4/2/0/1                    4/2/0/0                    4/2/0/1                   3/2/0/0

Gross Living Area         2187                     2046                   1881                    2104                       1776                       2344                      1930

Basement                  No                       Yes                    No                      Yes                        Yes                        Yes                       No

Basement (% fin)                                   90                                             0                          90                         0

Price per sq ft                                    $83.09                 $84.00                  $75.57                     $106.42                    $76.75                    $85.49

Garage/Carport            0 Off-Street             2 Garage - Attached    2 Garage - Detached     2 Garage - Attached        2 Garage - Attached        2 Garage - Attached       4 Garage - Detached

Fireplace                 0                        1                      0                       1                          1                          1                         1

Pool                      No                       NO                     NO                      NO                         NO                         NO                        NO

View Type                 Neighborhood             Neighborhood           Neighborhood            Neighborhood               Neighborhood               Neighborhood              Neighborhood

Inferior/Superior                                  Superior               Superior                Superior                   Superior                   Superior                  Superior
                 Please see the comments addendum page.
Sale 1
Comments

                 Please see the comments addendum page.
Sale 2
Comments

                 Please see the comments addendum page.
Sale 3
Comments


                 Please see the comments addendum page.
Listing 1
Comments

                 Please see the comments addendum page.
Listing 2
Comments

                 Please see the comments addendum page.
Listing 3
Comments

NEIGHBORHOOD DATA:

 Neighborhood Value Trend:                   Improving        Stable               Declining      Monthly rate (%) of change?      0.83    # months for Value trend change   6
 Neighborhood Pride of Ownership:                Excellent         Good                Fair        Poor      New Construction in area?      No

 Average Marketing Time of Comparable Listings:               75                                             Average Marketing Time of Comparable Sales:         73

 Price Range of Competing Properties:              $100,000     to        $199,000                         Number of Competing Listings in Neighborhood:         21
 Predominate Value for Immediate Area:             $140,700
 Describe any negative neighborhood factors that will detract from subject:
 Backing to Fast Food Store and Boat Dock and Storage Area
 Economic outlook for region/subject's market:
 Poor

 Rent Control:           Yes              No

 Comments:




MARKETABILITY OF SUBJECT:

 Number of REO/Short Sale properties in the subjects market                   18                Number of REO/Short Sale properties on the subject's block   0
 Is the presence of REO/Short Sale properties in the subject's market adversely affecting overall values?           Yes

 Average marketing time for lender owned properties in subject's market               60

 In the subject's market, what is the average % discount required to sell a lender owned property compared to a comparable non-lender owned property?            12.00

 * Will this property be a problem for resale? If so, why?:
 No
 Indicate any financing subject will NOT qualify for:
 None

 Most likely buyer:     Owner Occupant
 Explain any functional/economic obsolescence:

 None

PROPERTY COMMENTS AND FEATURES

 Please Describe Any Negative Features or Condition of the Property:

 No Basement, No Garage.


 Please Describe Any Positive Features or Condition of the Property:

 Spacious Newer 2 Story, 4 BR, 2.1 BA, LR, DR, Kitchen, Loft, Central Air.



REPAIRS
 Does Property have any damage that may qualify as an Insurance claim ?                    No        Description:         0

                       Insurance Repairs Estimated Amount and Description:                 $0        0

                          Interior Repairs Estimated Amount and Description:

                          Exterior Repairs Estimated Amount and Description:               $0        0

                         Updates Needed Estimated Amount and Description:                  $0        0

                                                                   Total Repairs
BROKER COMMENTS REGARDING VALUE CONCLUSION:
Due to the lack of listed and sold comps, the search was extended to over 1 mile and to Lake Villa to find similar comps. Keeping in mind Subject's site location is negative. Fox Lake's
economy is poor, local stores closing, car dealerships closing, lack of job growth and lack of sales if upscale homes which subject would fall into that group. Sold 1 is a 4 BR, 2.1 BA home
with full basement and weight is given to this comp. The age is similar and the sf would give weight to this home. Subject does not have a garage or basement therefore deductions would
be given. The 2010 Real Estate Tax Bill is $6006.12.




VALUE CONCLUSION:

                                                                                                       90-120 DAY MARKET TIME
                                                           AS-IS Sale Strategy                                          REPAIRED Sale Strategy                                    ESTIMATED LAND ONLY VALUE
     RECOMMENDED LIST PRICE:                                         $150,000                                                          $150,000                                                        $45,000
     ANTICIPATED SALE PRICE:                                         $150,000                                                          $150,000

                      30 DAY QUICK SALE MARKET TIME                                                                                    OTHER VALUES
                                    Quick Sale Strategy                                                                                                                                                         Recommended Sales Strategy:
     RECOMMENDED LIST PRICE:                                       $135,000                               6 MONTH FUTURE VALUE:                                             $142,683                                   AS IS               REPAIRED

     ANTICIPATED SALE PRICE:                                       $135,000                               FAIR MARKET RENT VALUE:                                            $1,700

      "Future Value is a calculation based on Brokers' ASP Price and Monthly Rate % of change. This does not represent a prediction or determination of future value, it merely displays a possible value if the area market trend were to continue."




QC COMMENTS:
Although some market data presented falls outside generally accepted guidelines, the agent has adequately justified its use and the value conclusion is reasonable and supported.




 Broker Signature: CAROL GOLD                                                                                           BPO Date:            05/05/2011                                                  IAS Order #:          1457834

  Broker Company: RE/MAX SHOWCASE (847)668-4321                                                                                                                                                                    Loan:       10

 Property Address:           10 MATTS RD

                                           NOTE: This report is meant to be a Broker's Opinion of Value ONLY and is not to be construed as an appraisal.
 SUBJECT PROPERTY COMMENTS ADDENDUM:
The most recent sale in the subject Neighborhood was not used in this report because Smaller home, built 2010, basement, att 2 car garage.. 1)
Fox Lake is located in Lake County a far NW Suburb of Chicago experiencing 90% foreclosures and short sales driving values down.
Unemployment is heavy, lack of job growth, local stores closing, economy is poor, lack of buyer confidence and poverty levels rising. 2) NA, 3)
NA, 4) Subject is located near a fast food store behind subject. 5) The neighborhood was initially built with small ranch style summer homes. No
boundaries to affect value. The condition is good. The negative site would be the fast food store behind subject.


 COMP LISTING # 1 COMMENTS ADDENDUM:
Split Level, 8 RMS, 4 BR, 2 BA, LR, DR, Kitchen, Full Fin Basement, Att 2 Car Garage, 1 FPL. MLS: Many homes disappoint but this is one that
won't! Clean and well decorated, no work needed-truly maintenance-free. Enjoy the excellent layout featuring vaulted ceiling in Liv Rm, fireplace in
Fam Rm with comfy Kit offering pantry closet. Plenty of closet space with additional cemented crawl for the growing family. Fenced yard with patio,
beautiful landscaping makes for great curb appeal. Close to Metra and shopping.

 COMP LISTING # 2 COMMENTS ADDENDUM:
2 Story, 8 RMS, 4 BR, 2.1 BA, 1 FPL, LR, DR, Kitchen, FR, Full Unfin Basement, Att 2 Car Garage. MLS: Check out this large light filled home,
located on a wooded lot backing to a pond and nature area. Grayslake Schools. Dramatic two story foyer, huge family room with F/P. Great
kitchen with large eating area, formal dining room, master w/vaulted ceiling and great closet, unfin walkout bsmt with roughed in plumbing. A huge
oversize upper & lower deck to observe nature. Dog run!

 COMP LISTING # 3 COMMENTS ADDENDUM:
1 Story, Double Lot, 7 RMS, 3 BR, 2 BA, DR, Kitchen, FR, Den, No Basement, Det 4 Car Garage, 1 FPL. MLS: Great Home on Duck Lake on 2
Lots! Large Ranch home w/ a 4 car garage and plenty of outdoor living space. Bright and open floor plan features a large family room w/ fireplace
and lots of windows. Formal dining room and a large eat in kitchen. Master suite w/ walk in closet and private bath. Large rooms through out. Short
sale, allow time for bank approval. Only 1 loan, working w/ short sale negotiation company.

 COMP SALES # 1 COMMENTS ADDENDUM:
2 Story, 9 RMS, 4 BR, 2.1 BA, LR, DR, Kitchen, FR, Den, Full Fin Basement, Att 2 Car Garage. MLS: Great floor plan with first floor den.
Hardwood flrs in foyer, hallway,kitchen & brkfst area. FR w/stone fireplace. DR w/bay window. Open stairway. Bedrooms w/closet organizers. Mstr
w/walk-in closet. Partially full finished bsmnt rough in for extra bath. Large patio overlooking nice size yard.

 COMP SALES # 2 COMMENTS ADDENDUM:
2 Story, 7 RMS, 4 BR, 3 BA, Kitchen, Den, Great Room, Att 2 Car Garage, No Basement. MLS: MAKE THAT MOVE NOW! Totally remodeled
and updated Bi-Level-4 Bedrooms, 3 Full Baths, Great Room, Den, Kitchen w/eat in and stainless appliances. First FL has bedroom and bath.
Master Bedroom with huge walk-in closet and bath. Two bedrooms and Laundry upstairs. Great Fenced Yard that backs up to Forest Preserve.
Detached 2.5 car garage. Chain of Lake water rights. MOVE-IN READY AND PRICED TO SELL.

 COMP SALES # 3 COMMENTS ADDENDUM:
2 Story, 8 RMS, 4 BR, MLS: YES...YOU ARE SEEING THIS PRICE RIGHT! ATTRACTIVE 4 BEDROOM HOME IN HICKORY COVE...W/ A
PRIVATE RESIDENT-ONLY BOAT LAUNCH AREA! LOTS OF HOME FOR THE MONEY HERE! MASTER OFFERS A VLTD CEILING, DEEP
WALK-IN & PRIV BTH...LARGE KITCHEN W/ GENEROUS CABINET/DRAWER/COUNTER SPACE...DINETTE W/ ACCESS TO MULTI-TIERED
DECK AND FENCED YARD...SPACIOUS FAMILY RM WITH FIREPLACE...FULL BSMT W/ STUBBED BATH...SIDE APRON...AND MORE!
                                                              BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:          MATTS10
Loan Number:         10
Address:             10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: Subject




Description: Front
                                                           BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       MATTS10
Loan Number:      10
Address:          10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: Side View




Description: Side View
                                                             BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:         MATTS10
Loan Number:        10
Address:            10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: Rear




Description: House Number Verification
                                                           BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       MATTS10
Loan Number:      10
Address:          10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: StreetView




Description: StreetView
                                                                                                 BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       MATTS10
Loan Number:      10
Address:          10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: StreetView




Description: CompListing1                 Address: 2150 N. Millstone Drive,Lake Villa IL 60046
                                                                                             BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       MATTS10
Loan Number:      10
Address:          10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: CompListing2                 Address: 1008 Oak Tree Trail,Lake Villa IL 60046




Description: CompListing3                 Address: 602 Knollwood Road,Fox Lake IL 60020
                                                                                             BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:      MATTS10
Loan Number:     10
Address:         10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: CompSale1                   Address: 576 Red Spruce Trail,Lake Villa IL 60046




Description: CompSale1                   Address: 576 Red Spruce Trail,Lake Villa IL 60046
                                                                                         BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:      MATTS10
Loan Number:     10
Address:         10 MATTS RD, FOX LAKE, IL 60020 (LAKE)

Description: CompSale2                   Address: 37395 Piper Lane,Lake Ville IL 60046




Description: CompSale3                   Address: 8520 Cedar Street,Fox Lake IL 60020
Map




                                               Order Number:          MATTS10
                                               Loan Number:           10


                                                                Subject Property:
                                                                     10 MATTS RD
                                                                  FOX LAKE, IL 60020
                                               Distance from Subject to Broker Office: 13.918493128 Miles

                                                              ~Distances not Guaranteed~
                                               Based on MapQuest's accuracy & ability to locate addresses.



      Comp. Listing 1:                                                                                       Closed Sale 1:
      2150 N. Millstone Drive                                                                                576 Red Spruce Trail
      Lake Villa, IL 60046                                                                                   Lake Villa, IL 60046
      Dist. From Subject: 6.4719885026 Miles                                                                 Dist. From Subject: 5.5190630774 Miles


      Comp. Listing 2:                                                                                       Closed Sale 2:
      1008 Oak Tree Trail                                                                                    37395 Piper Lane
      Lake Villa, IL 60046                                                                                   Lake Ville, IL 60046
      Dist. From Subject: 6.5092003429 Miles                                                                 Dist. From Subject: 3.2971418033 Miles


      Comp. Listing 3:                                                                                       Closed Sale 3:
      602 Knollwood Road                                                                                     8520 Cedar Street
      Fox Lake, IL 60020                                                                                     Fox Lake, IL 60020
                                                                                                             Dist. From Subject: 2.8872810714 Miles

				
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