6127 Bishop by Jorge_Newbery

VIEWS: 2 PAGES: 11

									                                                        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: 6127 S BISHOP                                                                                     IAS Order #:        1458660
 City, State, Zip:       CHICAGO, IL 60636                                                                           Project ID:         AHP050311
 Loan:                   BIS6127                                                                                     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
          Urban               NO                                                                             01/13/05      $72,000       03/09/2007    $115,000      $1,493.00        $0.00

         APN#:     20173190100000                                              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                   6127 S BISHOP            5736 S BISHOP ST       6439 S Hermitage ST     6423 S Bishop St          5732 S ELIZABETH ST       6419 S BISHOP ST         6550 S BISHOP ST

Zip                       60636                    60636                  60636                   60636                     60636                     60636                    60636

Proximity                                          0.40 Mile              0.50 Mile               3.00 Block                0.50 Mile                 0.30 Mile                0.50 Mile

Subdivision               Belleville                                     Drexel Park
                                                   Show & Dickinsons Garfield Bou                 D Goodwin                 Centre Ave Add            Daniel Goodwins          Hosmer & Fenns

MLS Number                                         07669972               07719588                07623562                  07779760                  07619092                 07740218

Data Source               Assessor Records         MLS                    MLS                     MLS                       MLS                       MLS                      MLS

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

Orig List Date            3/9/2007                 11/03/10               01/27/11                08/31/10                  04/12/11                  08/27/10                 02/26/11

Orig List Price           $115,000                 $8,900                 $8,900                  $14,000                   $6,500                    $39,900                  $11,000

Current List Date                                                                                                           04/12/2011                03/04/2011               04/28/2011

Current List Price                                                                                                          $6,500                    $9,900                   $9,900

Sale Date                                          01/13/11               04/04/11                01/06/11

List Price at Sale                                 $6,900                 $6,900                  $11,500

Sale Price                                         $6,900                 $7,000                  $11,500

Seller Concessions                                 $0.00                  $0.00                   $0.00

DOM (Curr / Total)        /                        20 / 41                14 / 36                 28 / 93                   24 / 24                   31 / 252                 7 / 69

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            Raised Ranch             Frame 2 story          Brick 1.5 story         Frame 1.5 story           Frame 1.5 story           Frame 1.5 story          Bungalow

Condition                 Fair                     Fair                   Fair                    Good                      Fair                      Fair                     Average

Year Built                1902                     1922                   1911                    1893                      1905                      1891                     1891

Lot Size                  0.07 Acres               0.07 Acres             0.07 Acres              0.07 Acres                0.07 Acres                0.07 Acres               0.07 Acres

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

Gross Living Area         827                      984                    746                     1267                      1012                      971                      1092

Basement                  Yes                      Yes                    Yes                     Yes                       Yes                       Yes                      Yes

Basement (% fin)          0                        0                      0                       0                         0                         0                        0

Price per sq ft                                    $7.01                  $9.38                   $9.08                     $6.42                     $10.20                   $9.07

Garage/Carport            None                     2 Garage - Detached    None                    None                      None                      None                     1 Garage - Detached

Fireplace                 0                        0                      0                       0                         0                         0                        0

Pool                      No                       NO                     NO                      NO                        NO                        NO                       NO

View Type                 City                     City                   City                    City                      City                      City                     City

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

                 Please see the comments addendum page.
Sale 2
Comments

                 Superior square footage   MLS: Attn investors and rehabbers.... 2 story SFH home features full basement and 4 bedrooms. Sold As-Is....
Sale 3
Comments


                 Please see the comments addendum page.
Listing 1
Comments

                 Please see the comments addendum page.
Listing 2
Comments

                 Superior square footage, detached 1 car garage   MLS: Great property, large bedrooms, great location, solid structure, harwood floors, eat in kitchen.
Listing 3
Comments

NEIGHBORHOOD DATA:

 Neighborhood Value Trend:                      Improving             Stable                Declining         Monthly rate (%) of change?                0.33       # 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:                       229                                                   Average Marketing Time of Comparable Sales:                   41

 Price Range of Competing Properties:                   $5,000          to          $49,000                              Number of Competing Listings in Neighborhood:                    66
 Predominate Value for Immediate Area:                 $25,000
 Describe any negative neighborhood factors that will detract from subject:
 High Police Presence in area, 3 boarded up properties in the same block
 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                               53              Number of REO/Short Sale properties on the subject's block                 5
 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                         26

 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?                                     30.00

 * Will this property be a problem for resale? If so, why?:
 No
 Indicate any financing subject will NOT qualify for:
 FHA, Conventional

 Most likely buyer:      Investor
 Explain any functional/economic obsolescence:

 Lack of garage

PROPERTY COMMENTS AND FEATURES

 Please Describe Any Negative Features or Condition of the Property:

 Appears to need new roof, repair soffit/fascia


 Please Describe Any Positive Features or Condition of the Property:

 Frame 1.5 story in keeping with style of housing stock of neighborhood



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

                        Insurance Repairs Estimated Amount and Description:                          $0

                           Interior Repairs Estimated Amount and Description:

                          Exterior Repairs Estimated Amount and Description:                     $2,500           Roof repair, soffit & fascia

                          Updates Needed Estimated Amount and Description:                           $0

                                                                            Total Repairs        $2,500
BROKER COMMENTS REGARDING VALUE CONCLUSION:
Values based on comparable sales approach and square footage approach. As-is price adjusted to reflect roof & soffit/fascia repair. Comparable sales were given the most weight due to
their similar condition, age, square footage and close proximity to subject. CS3 was chosen to reflect comparable sale in average condition.




VALUE CONCLUSION:

                                                                                                       90-120 DAY MARKET TIME
                                                           AS-IS Sale Strategy                                          REPAIRED Sale Strategy                                    ESTIMATED LAND ONLY VALUE
    RECOMMENDED LIST PRICE:                                            $6,500                                                           $11,500                                                         $3,000
     ANTICIPATED SALE PRICE:                                           $6,500                                                           $11,500

                      30 DAY QUICK SALE MARKET TIME                                                                                    OTHER VALUES
                                    Quick Sale Strategy                                                                                                                                                         Recommended Sales Strategy:
     RECOMMENDED LIST PRICE:                                         $5,900                               6 MONTH FUTURE VALUE:                                              $6,372                                    AS IS               REPAIRED

     ANTICIPATED SALE PRICE:                                         $5,900                               FAIR MARKET RENT VALUE:                                              $850

      "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: LETICIA JIMENEZ                                                                                      BPO Date:            05/07/2011                                                  IAS Order #:          1458660

  Broker Company: AT WORLD PROPERTIES LLC DBA ATPROPERTIES (312)506-0229                                                                                                                                           Loan:       BIS6127

 Property Address:           6127 S BISHOP

                                           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:
 Subject property is located in West Englewood neighborhood, which is bounded to the N by Garfield (55th) W by Western, S by 76th and E by
Asland Ave. The area is characterized by high vandalism, high police presence, low median income ($25,000 annually) and high presence of
REO. A handful of properties in West Englewood neighborhood are listed higher than $200,000, but generally the real estate values here fall in a
lower price bracket.


 COMP LISTING # 1 COMMENTS ADDENDUM:
Superior square footage MLS: This property is eligible under the First Look initiative through 4/12-4/27. See attached addendum for details.This
property is being sold as-is. Up to 3% closing costs for owner occupied financed deals. Please submit earnest money as certified funds or money
order. Provide proof of funds with cash offers and preapproval with financed deals.

 COMP LISTING # 2 COMMENTS ADDENDUM:
Superior square footage MLS: WHERE CAN YOU BUY A HOME FOR UNDER $10,000? SWEAT EQUITY CAN MAKE THIS A GREAT
STARTER HOME OR GREAT FOR AN INVESTOR. NEEDS SOME UPDATES THROUGHOUT TO MAKE THIS HOME SHINE. COME AND
MAKE AN APPOINTMENT TODAY. SHORT SALE. PROCESS HAS BEEN STARTED.

 COMP LISTING # 3 COMMENTS ADDENDUM:

 COMP SALES # 1 COMMENTS ADDENDUM:
Superior square footage, detached 2 car garage MLS: Great opportunity for investment! Property is located on Chicago's South Side in the
Englewood neighborhood. Style bungalow with 4 bedrooms and a full unfinished basement.Repairs are needed throughout. Property is sold as-is!
This is a Fannie Mae Homepath Property.

 COMP SALES # 2 COMMENTS ADDENDUM:
Inferior square footage MLS: BRICK 1.5 STORY HOME IN WEST ENGLEWOOD AREA! REPAIRS AND UPDATES ARE NEEDED
THROUGHOUT. HOME HAS 4 BEDROOMS AND 1 FULL BATH WITH ADD'L BATH IN BASEMENT PROPERTY IS CORPORATE OWNED
AND BEING SOLD AS-IS. SELLR WILL NOT PROVIDE NOR PAY FOR A SURVEY. TAXES ARE PRORATED AT 100% ONLY.

 COMP SALES # 3 COMMENTS ADDENDUM:
                                                               BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:          BIS6127
Loan Number:         BIS6127
Address:             6127 S BISHOP, CHICAGO, IL 60636 (COOK)

Description: Subject




Description: Front
                                                            BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       BIS6127
Loan Number:      BIS6127
Address:          6127 S BISHOP, CHICAGO, IL 60636 (COOK)

Description: Side View




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

IAS Number:       BIS6127
Loan Number:      BIS6127
Address:          6127 S BISHOP, CHICAGO, IL 60636 (COOK)

Description: StreetView




Description: CompListing1                 Address: 5732 S ELIZABETH ST,Chicago IL 60636
                                                                                       BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       BIS6127
Loan Number:      BIS6127
Address:          6127 S BISHOP, CHICAGO, IL 60636 (COOK)

Description: CompListing2                 Address: 6419 S BISHOP ST,Chicago IL 60636




Description: CompListing3                 Address: 6550 S BISHOP ST,Chicago IL 60636
                                                                                          BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:      BIS6127
Loan Number:     BIS6127
Address:         6127 S BISHOP, CHICAGO, IL 60636 (COOK)

Description: CompSale1                   Address: 5736 S BISHOP ST,Chicago IL 60636




Description: CompSale2                   Address: 6439 S Hermitage ST ,Chicago IL 60636
                                                                                      BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:      BIS6127
Loan Number:     BIS6127
Address:         6127 S BISHOP, CHICAGO, IL 60636 (COOK)

Description: CompSale3                   Address: 6423 S Bishop St,Chicago IL 60636
Map




                                               Order Number:          BIS6127
                                               Loan Number:           BIS6127


                                                                Subject Property:
                                                                    6127 S BISHOP
                                                                  CHICAGO, IL 60636
                                               Distance from Subject to Broker Office: 7.8392425016 Miles

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



      Comp. Listing 1:                                                                                       Closed Sale 1:
      5732 S ELIZABETH ST                                                                                    5736 S BISHOP ST
      Chicago, IL 60636                                                                                      Chicago, IL 60636
      Dist. From Subject: 0.5283439973 Miles                                                                 Dist. From Subject: 0.4605527648 Miles


      Comp. Listing 2:                                                                                       Closed Sale 2:
      6419 S BISHOP ST                                                                                       6439 S Hermitage ST
      Chicago, IL 60636                                                                                      Chicago, IL 60636
      Dist. From Subject: 0.3847316076 Miles                                                                 Dist. From Subject: 0.5446699836 Miles


      Comp. Listing 3:                                                                                       Closed Sale 3:
      6550 S BISHOP ST                                                                                       6423 S Bishop St
      Chicago, IL 60636                                                                                      Chicago, IL 60636
      Dist. From Subject: 0.5718787875 Miles                                                                 Dist. From Subject: 0.5751787122 Miles

								
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