Docstoc

131-1463898

Document Sample
131-1463898 Powered By Docstoc
					                                                        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: 131 KENTUCKY AVE                                                                                 IAS Order #:        1463898
 City, State, Zip:       FORT LAUDERDALE, FL 33312                                                                  Project ID:         AHP051111
 Loan:                   1001852                                                                                    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              YES                 Richard Zucchini                     954-337-1540           09/20/04     $39,500                                 $7,741.00      $0.00

         APN#:     504207062310                                                 Special Assessments:       $0.00

Subject Comments:
Please see the subject comments addendum page.



HOA Name:          na                                      HOA Fees:      $0.00                    HOA Assessments:         $0.00                       HOA Frequency: monthly
       Property Info                Subject              Sold Comp 1              Sold Comp 2            Sold Comp 3              Listed Comp 1          Listed Comp 2           Listed Comp 3




Address                   131 KENTUCKY AVE         810 SW 39TH AVENUE      530 LONG ISLAND AVENUE 3221 AUBURN BLVD          830 E DAYTON CIRCLE     3880 JACKSON BLVD       1120 PARK DRIVE

Zip                       33312                    33312                   33312                   33312                    33312                   33312                   33312

Proximity                                          0.71 Mile               0.47 Mile               0.23 Mile                0.64 Mile               0.96 Mile               0.90 Mile

Subdivision               MELROSE PARK             ¤MELROSE PARK           ¤MELROSE PARK                            ¤MELROSE PARK
                                                                                                   ¤MELROSE PARK SECT 1 27-6                        ¤MELROSE PARK           ¤MELROSE PARK

MLS Number                M1425608                 F1103308                F1108179                F1120711                 H887166                 M1482545                M1457492

Data Source               MLS                      MLS                     MLS                     MLS                      MLS                     MLS                     MLS

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

Orig List Date                                     10/28/10                11/29/10                02/18/11                 05/05/11                03/11/11                03/22/11

Orig List Price                                    $93,900                 $87,900                 $79,900                  $92,900                 $89,000                 $81,500

Current List Date         09/30/2010                                                                                        05/05/2011              03/11/2011              05/06/2011

Current List Price        $79,000                                                                                           $92,900                 $89,000                 $77,900

Sale Date                                          01/26/11                03/02/11                04/08/11

List Price at Sale                                 $93,900                 $79,900                 $79,900

Sale Price                                         $85,000                 $73,000                 $82,500

Seller Concessions                                 $0.00                   $0.00                   $0.00

DOM (Curr / Total)        39 / 39                  18 / 18                 11 / 49                 18 / 18                  7/7                     61 / 61                 7 / 50

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            ranch                    ranch                   ranch                   ranch                    ranch                   ranch                   ranch

Condition                 Average                  Good                    Average                 Average                  Good                    Average                 Average

Year Built                1959                     1965                    1958                    1959                     1956                    1957                    1955

Lot Size                  7741.00 Sq.Ft.           10039.00 Sq.Ft.         7504.00 Sq.Ft.          8406.00 Sq.Ft.           8749.00 Sq.Ft.          7708.00 Sq.Ft.          17089.00 Acres

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

Gross Living Area         1596                     1756                    1489                    1491                     1598                    1330                    1350

Basement                  No                       No                      No                      No                       No                      No                      No

Basement (% fin)

Price per sq ft           $49.50                   $48.41                  $49.03                  $55.33                   $58.14                  $66.92                  $57.70

Garage/Carport            1 Garage - Attached      2 Carport - Attached    2 Carport - Attached    1 Carport - Attached     1 Carport - Attached    2 Off-Street            2 Off-Street

Fireplace                 0                        0                       0                       0                        0                       0                       0

Pool                      No                       NO                      NO                      NO                       NO                      NO                      NO

View Type                 Neighborhood             Neighborhood            Neighborhood            Neighborhood             Neighborhood            Neighborhood            Neighborhood

Inferior/Superior                                  Superior                Superior                Superior                 Superior                Inferior                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?      1.25    # months for Value trend change   12
 Neighborhood Pride of Ownership:                Excellent         Good                Fair        Poor      New Construction in area?      No

 Average Marketing Time of Comparable Listings:               40                                             Average Marketing Time of Comparable Sales:         29

 Price Range of Competing Properties:                 $40      to         $159,000                         Number of Competing Listings in Neighborhood:         37
 Predominate Value for Immediate Area:             $100,000
 Describe any negative neighborhood factors that will detract from subject:
 ELEVATED CRIME
 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                   23                Number of REO/Short Sale properties on the subject's block   2
 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               23

 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?            20.00

 * Will this property be a problem for resale? If so, why?:
 LOOK FOR POSSIBLE INVESTOR...GARAGE CONVERSION WILL BE FHA ISSUE AND ONY 1.5 BATHS
 Indicate any financing subject will NOT qualify for:
 SEE ABOVE REGARDING GARAGE AND FHA LOANS

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

 NONE

PROPERTY COMMENTS AND FEATURES

 Please Describe Any Negative Features or Condition of the Property:

 GARAGE CONVERSION MAY HAVE TO BE TAKEN OUT SINCE PROBABLY NOT PERMITTED


 Please Describe Any Positive Features or Condition of the Property:

 GOOD SIZE YARD FOR ADDITIONS



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

                       Insurance Repairs Estimated Amount and Description:                 $0        NA

                          Interior Repairs Estimated Amount and Description:

                          Exterior Repairs Estimated Amount and Description:               $0        NA

                         Updates Needed Estimated Amount and Description:                  $0        NA

                                                                   Total Repairs
BROKER COMMENTS REGARDING VALUE CONCLUSION:
SUBJECT AREA IS DEFINATLEY REO DRIVEN WITH 24 OUT OF LAST 32 SALES IN REO STATUS AS WELL AS 23 OUT OF 37 ACTIVE LISTINGS POSTED AS SHORT SALE. ALL
THREE SALES SIMILAR IN SIZE AND LOCATION WERE REO SALES. PROPERTY DOES HAVE GLARING ISSUE OF ONLY 1.5 BATHS BUT NOT TO UNCOMMON TO HAVE SOME
SORT OF ADDITION WITHOUT PERMITTING SINCE THIS HOMES ARE VERY OLD AND SOME HAVE BEEN ABLE TO FLY UNDER THE RADAR ON INSPECTIONS. THIS COULD
BE A CONCERN SICNE THERE ARE HOMES IN THE AREA WITH MORE BATHROOMS AT THE SAME PRICE OF SUBJECT WHICH A SMART BUYER WOULD MOVE ON PRIOR
TO SUBJECT. A THROGOUGH REVIEW OF THE AREA DID NOT REVEAL ANY COMPARABLES WITH SAME BATHROOM COUNT (EITHER 1 BATH OR 2)




VALUE CONCLUSION:

                                                                                                       90-120 DAY MARKET TIME
                                                           AS-IS Sale Strategy                                          REPAIRED Sale Strategy                                    ESTIMATED LAND ONLY VALUE
    RECOMMENDED LIST PRICE:                                           $79,000                                                           $79,000                                                        $10,000
     ANTICIPATED SALE PRICE:                                          $75,000                                                           $75,000

                      30 DAY QUICK SALE MARKET TIME                                                                                    OTHER VALUES
                                    Quick Sale Strategy                                                                                                                                                         Recommended Sales Strategy:
     RECOMMENDED LIST PRICE:                                        $63,200                               6 MONTH FUTURE VALUE:                                              $69,548                                   AS IS               REPAIRED

     ANTICIPATED SALE PRICE:                                        $60,000                               FAIR MARKET RENT VALUE:                                            $1,250

      "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: EDWARD KLEM                                                                                          BPO Date:            05/13/2011                                                  IAS Order #:          1463898

  Broker Company: GERRY SULLIVAN AND ASSOCIATES REALTY (954)792-5010                                                                                                                                               Loan:       1001852

 Property Address:           131 KENTUCKY AVE

                                           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 COMMUNITY KNOWN AS MELROSE PARK IN FORT LAUDERDALE. AREA IS COMPOSED OF
MOSTLY LOWER INCOME RESIDENTS AND HAS ALWAYS HAD AN IN ISSUE WITH LOWER VALUES DUE TO ECONOMIC MAKEUP AND
HIGH RATE OF UNEMPLOYMENT. CITY HAS TRIED MANY ATTEMPTS TO REVITALIZE THIS AREA WITH NEW STREETS, LIGHTING AND
MORE RECENTLY CONNECTIONS TO CITY WATER AND SEWER LINES. WITH THE DOWN REAL ESTATE MARKETS, THIS AREA HAS
REALLY TAKEN A BEATING ON VALUES. AREA IS UNDER MANY GOVERNMENT GRANT PROGRAMS TO INCREASE PURCHASES IN
THE AREA. INVESTORS ARE STILL BUYING BUT AT PENNIES ON THE DOLLAR PRICING SINCE THE AREA DOES WELL ON THE
RENTAL SIDE ESPECIALLY SINCE THERE ARE SEVERAL GOVERNMENT INCENTIVE PLANS FOR TENANTS. AREA IS SUPPORTED BY
LOCAL BUSINESSES AND THE ADDITION OF NEW ANCHOR STORE HAS HELPED. THERE ARE ALOT OF VACANT HOMES IN THE AREA
AND THE CURB APPEAL IS GREAT IN SOME STREETS THEN TERRIBLE ON OTHERS. ACCORDING TO CURRENT MLS, PROPERTY
WAS ORIGINALLY A 2/1.5 BUT HAS CONVERTED GARAGE.


 COMP LISTING # 1 COMMENTS ADDENDUM:
SAME SUBDIVISION AS SUBJECT...SOME REMODELING MLS: *****THIS IS NOT A SHORT SALE OR FORECLOSURE***** HOME WAS
RECENTLY PURCHASED THROUGH FANNIE MAE. SELLER WAS GIVEN A WAIVER BY FANNIE MAE TO RESELL THE PROPERTY
(PLEASE SEE ATTACHMENT). HOME IS LARGER THAN THE TAX RECORD.PROPERTY BEING SOLD AS-IS WITH RIGHT TO INSPECT.
CASH OR CONV. BUYERS ONLY.

 COMP LISTING # 2 COMMENTS ADDENDUM:
smaller unit in same community MLS: BEAUTIFUL 3/2, MOVE-IN CONDITION. GREAT FOR FIRST TIME HOME BUYERS OR INVESTORS.
SHORT-SALE & REALTOR COMMISSION ARE SUBJECT TO THIRD PARTY APPROVAL. APPROVED COMMISSION WILL BE SHARED
EQUALLY BETWEEN BROKERS Min.$1,000 escrow deposit.Stainless steel appliances will be replaces with standard working appliances

 COMP LISTING # 3 COMMENTS ADDENDUM:
MUCH LARGER LOT SIZE THAN SUBJECT MLS: BANK OWNED PROPERTY SOLD AS IS WITHOUT REPAIR OR WARRANTY. SELLER
AND LISTING AGENT HAVE NO KNOWLEDGE OF PROPERTY HISTORY, NO DISCLOSURES SUPPLIED. BUYER/BUYERS AGENT IS
RESPONSIBLE FOR VERIFYING HOA FEES AND DUES, IF ANY, COMMUNITY RULES, SQ FT, LOT SIZE, ROOM DIMENSIONS AND
TAXES.

 COMP SALES # 1 COMMENTS ADDENDUM:
REMODELED HOME IN SAME AREA....MUCH LARGER LOT MLS: Spacious 3/2 on a corner lot with a circular driveway. Centrally located
between 441 and Peters Road. Close to major highways I-95 and 595. Bank of America Home Loans Prequalification required on all offers. Free
appraisal and credit report if buyer finances through Bank of America. Please allow 2-3 business days for seller response.

 COMP SALES # 2 COMMENTS ADDENDUM:
SOME REMODELING, SIMILAR SQUARE FOOTAGE, 2 CAR CARPORT MLS: PRICED REDUCED!! SPACIOUS 2 BEDROOM 2 BATH
SINGLE FAMILY HOME. HOUSE HAS A 2-CAR CARPORT, FLORIDA ROOM, CERAMIC TILE IN MAIN LIVING AREAS, CARPET IN
BEDROOMS & FENCED BACK YARD GREAT FOR ENTERTAINING. KITCHEN AND BATHROOMS ARE IN THEIR ORIGINAL CONDITION.

 COMP SALES # 3 COMMENTS ADDENDUM:
SLIGHTLY SMALLER THAN SUBJECT PROPERTY BUT FULL 2 BATHROOMS MLS: THIS IS A FANNIE MAE HOMEPATH PROPERTY.
"Offers must include attached Lead Paint Addendum signed by buyer & co-op". . A very spacious floor plan and large back yard. Located next to
all major highways, and shopping centers. Do not miss this opportunity!!
                                                                           BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       KENT131
Loan Number:      1001852
Address:          131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: Subject




Description: Subject
                                                                           BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       KENT131
Loan Number:      1001852
Address:          131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: Subject




Description: Subject
                                                                           BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       KENT131
Loan Number:      1001852
Address:          131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: Subject




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

IAS Number:       KENT131
Loan Number:      1001852
Address:          131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: House Number Verification




Description: StreetView
                                                                                   BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       KENT131
Loan Number:      1001852
Address:          131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: StreetView




Description: CompListing1               Address: 830 E DAYTON CIRCLE,FORT LAUDERDALE FL 33312
                                                                                   BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:       KENT131
Loan Number:      1001852
Address:          131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: CompListing2               Address: 3880 JACKSON BLVD,FORT LAUDERDALE FL 33312




Description: CompListing3               Address: 1120 PARK DRIVE,FORT LAUDERDALE FL 33312
                                                                                  BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:      KENT131
Loan Number:     1001852
Address:         131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: CompSale1                 Address: 810 SW 39TH AVENUE,FORT LAUDERDALE FL 33312




Description: CompSale2                 Address: 530 LONG ISLAND AVENUE,FORT LAUDERDALE FL 33312
                                                                                 BROKERS PRICE OPINION (BPO)
PHOTOS:

IAS Number:      KENT131
Loan Number:     1001852
Address:         131 KENTUCKY AVE , FORT LAUDERDALE, FL 33312 (Broward)

Description: CompSale3                 Address: 3221 AUBURN BLVD,FORT LAUDERDALE FL 33312
Map




                                               Order Number:          KENT131
                                               Loan Number:           1001852


                                                                Subject Property:
                                                                 131 KENTUCKY AVE
                                                            FORT LAUDERDALE, FL 33312
                                               Distance from Subject to Broker Office: 3.4192136957 Miles

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



      Comp. Listing 1:                                                                                       Closed Sale 1:
      830 E DAYTON CIRCLE                                                                                    810 SW 39TH AVENUE
      FORT LAUDERDALE, FL 33312                                                                              FORT LAUDERDALE, FL 33312
      Dist. From Subject: 0.6387193709 Miles                                                                 Dist. From Subject: 0.7137530983 Miles


      Comp. Listing 2:                                                                                       Closed Sale 2:
      3880 JACKSON BLVD                                                                                      530 LONG ISLAND AVENUE
      FORT LAUDERDALE, FL 33312                                                                              FORT LAUDERDALE, FL 33312
      Dist. From Subject: 0.9649691264 Miles                                                                 Dist. From Subject: 0.4786044039 Miles


      Comp. Listing 3:                                                                                       Closed Sale 3:
      1120 PARK DRIVE                                                                                        3221 AUBURN BLVD
      FORT LAUDERDALE, FL 33312                                                                              FORT LAUDERDALE, FL 33312
      Dist. From Subject: 0.9076475941 Miles                                                                 Dist. From Subject: 0.3197612674 Miles
GERALDINE SULLIVAN                                 RE1 - SINGLE FAMILY RESIDENTIAL                                                          RAGFL
ML: M1425608 BC: SEFEDJW01 / USA Trust Realty, Inc.                   AR: 3570 SH SALE: Y / UN REO: N                              STATUS:     PS
AD: 131 KENTUCKY AV                                               CITY: FORTLAUD  RP:     LLP:                                     LP: $79,000
CT: BROWARD F#: 504207062310          ZIP: 33312-1144 GEOAR: FTSW          ZN: R3         STYLE: R30                                   #I: 2
LG: LOT 2, BLOCK 16 OF MELROSE PARK SEC. 6, PB 36, PG 24, BROWARD

MC:           TN: 5042           SE:         SD: 6        PN: 2310 MAP:                      ST: FL                        TYPE:   C / SINGLE
DV:                              SN: ¤MELROSE PARK                                           MN:
LA: ¤1,596      TA: ¤1,784       YR: 1956/ RS      CONV:          BED: 3       FBATH:     1  HBATH: 1
GARAG: 0                CPT: 0           WF:                 FACE:      E     F$: U
PARK:     DRIVEWAY                                           PARK RESTR:
LT:                                      SF/FF: ¤7,741                  LOTDS:      0-1/4ACR
WTRFR: N                                                                VIEW: GARDEN
WTRAC:                                                                  DESGN: DETACH/ 1STORY                                      ES:
CONST:    CBS                                                           ROOF: SHINGLE                                              MS:
FLOOR:    CARPET TILE                                                   DINE:                                                      HS:
ROOMS: FAMILY
POOLS:    N                                                                                         PL:                             SPA:
REM: Nice home in Melrose park. Garage has been converted to master suite




DIR:


BRK-REM: Property subject to 3rd party (lender) approval. Commissions split 50%/50% subject to lender approval. Call CSS 888-998-9005 to
         show.
     LV:               DR:                   DA:                KT:                FR:                 FL:                 PR:
     MB:               2B:                   3B:                4B:                5B:                 DN:                 PB:
BEDRM: ENTRYLVL                                                                                          UR:                CF: 0
MSBTH:                                                                                                               PETS:
INTER:   1FLENTRY SPLITBED
EQUIP:   RANGE-E DISPOSAL

WNDW:                                                   RESTR:    NONE                                   HOPA: N
EXTER:     PATIO
GUEST:                                                                                  GUEST SQ FT:     0
SUBDV: NONE                                             MAINT:
HEAT:      CENTRAL ELEC                                 SPRINK:                                     CABLEAVL:
COOL:      CENTRAL ELEC                                 WTR: MUNICIPL             SEWER: MUNICIPL
TRMSCONS: CONV                                                               ASSUME:       DAV/SOH: ¤$107,250
MPR: N                       TOA: O              FEE:  $0.00/ N                            DMV/ASV: ¤$107,250
TX:     ¤$1,967              TXYR: 2009   TAX: NOHOMESTD                                          TM:
SPEC:                                                   POSS: FUNDING                             IDX:   Y
LPID: SEF3225171 / Richard Zucchini                             APH:                      OPH: 954-337-1540 x 0
2PID:                                                           2AG:                      FAX: 954-333-3594
LTY:    ER                   ON:                                ON#:                      2PH: 954 260 4800
URL:                                                            PHOTO: 1PLUS              WD:
EMAILA: rzloans@aol.com                                                   VT:
COBA: 3.0%                   COTB: 3.0%       CONR: 3.0%        VAR: N    JA:                   BRD:     M
OCCUP: OWNER                 SHOW: BRKR-RMRKS                             LD:                   XD:
PREV STATUS: A               STATUS CHNG: 11/08/10              OK ADV: Y                       L1:
PREV$:                       PRICE CHNG:                ORIG LP: $79,000                        L2:
INet: Y/Nice Home in Melrose Park

MOBILE HOME DECAL:                                   SZ:                   S#:                                BRAND:
FEEINCL:                                                                   MISC:
PD: 11/08/10                 CONTING:            C             DM:     39                 FURN:                      CD:         SP:
ECD: 02/08/11                CB:                               SPID:                                                             S1:
TR:                   SC:                                      SPID2:                                                            S2:
   *(c) 2011 REALTOR Association of Greater Ft. Lauderdale -- INFORMATION IS BELIEVED ACCURATE BUT IS NOT WARRANTED*         05/12/11    8:03 AM

				
DOCUMENT INFO
Shared By:
Categories:
Tags:
Stats:
views:18
posted:5/13/2011
language:English
pages:14