Exterior BPO. I. General Conditions

Transcription

1 Exterior BPO Property Address: 1497 Orlean Street, F/K/A 1498 Miller Street, MEMPHIS, TN Borrower Not APPLICABLE. Inspection Date 9/23/2014 Effective Date 10/3/2014 APN Loan # PF1-68 Order ID Company Peter Warui Name Peter Warui Phone Fax [email protected] Address 3918 Sundale Way W Bartlett TN Distance from the Subject 23 Miles I. General Conditions Property Type SFR Occupancy Owner # Of Units 1 Data Source Property Condition HOA Tax Records Fair No HOA Fees $0 HOA Assoc. Name Phone Fees Include Monthly Rental Value $500 Subject Description Subject is in average condition with minor repairs required as it is well maintained. It is conveniently located near all amenities. Repairs Category Cost Category Cost Exterior Paint $1,500 Foundation $0 Siding / Trim Repair $0 Fencing $0 Exterior Doors $0 Landscaping $0 Windows $0 Pool $0 Garage $0 Other $0 Roof / Gutters $2,500 Other $0 Fire Damage $0 Other $0 Total Estimated Exterior Repairs $4,000 Subject Condition and Repair Comments Repairs needed. subject needs exterior painting and the roof appears to have some missing shingles.

2 II. Subject Sales and Listing History Currently Listed? No By: / / List Date Orig List Price Current List Price MLS# $ $ Prior History (36 Month) Original List Price Original List Date DOM Date Listed Date Sold List Price Sale Price Notes $ $ $ $ $ $ III. Neighborhood Market Data Analysis of Current and Prior Listing History: NA Location Suburban Local Economy is Stable Housing Supply is In Balance Number of Lisiting is Stable Normal Marketing Time 3-6 Months Total # of Active Listings in the subject's specific MLS district 2 Total # of Sales in the subject's specific MLS district in the past 12 months 3 # of REO Sales in the subject's specific MLS district in the past 12 months 1 # of Boarded Properties on Subject Street 0 # of Rentals on the market in the subject's specific MLS district 0 Predominant Occupancy Market for this type of property Remained Stable Market for this type of property REO% 20 Owner Market for this type of property Short Sale % 2 Range of Value is this area: Low: $1000 High: $79000 Pride of Ownership Does agent feel there will be a Resale Problem? Reason there will be a Resale Problem: None Anticipated. Do any environmental issues affect the value of the property? Neighborhood Comments Average Subject property is located in a neighborhood with easy access to major highways and other services. No

3 IV. Marketing Strategy Value Day Value Repaired Value 30 Day Value Suggested List Price $15,000 $19,000 $12000 Probable Sales Price $11,800 $15,800 $9440 Comments Regarding Pricing Strategy The most similar sold comp was given more weight toward the final suggested price. Unique Property Conditions The attached Broker Price Opinion (BPO) has been completed outside of The Uniform Standards of Professional Appraisal Practice (USPAP). The BPO is an evaluation tool and is not considered an appraisal of the market value of the property - it is an opinion of the probable sales price. SingleSource completes BPO requests for property listing, REO analysis, loan due diligence, modifications, etc to aid our servicing customers. SingleSource BPO reports are not eligible or appropriate for loan origination purposes.

4 V. Current Listings Subject Listing #1 Listing #2 Listing #3 Listing Comparables Listing # 1 Listing # 2 Street Address 1497 Orlean Street, F/K/A 1498 Miller Street 253 Silverage Ave 1748 S Lauderdale St 1611 Victor St City MEMPHIS Memphis Memphis Memphis State TN TN TN TN Zip Code Miles to Subject Community Name Orleans St Place Blk 1 BULLINGTON Longview Heights 4th Add Cordes Data Source Tax Records MLS MLS MLS MLS Number Original List Date 7/25/2014 7/8/2014 7/31/2014 Original List Price Current List Price Listing Type Arms Length Arms Length Arms Length Arms Length Days On Market Year Built Condition Fair Fair Good Good View Residential Residential Residential Residential Style/Design 1 Stry Trad 1 Stry Trad 1 Stry Trad 1 Stry Trad # of Units Gross Living Area Bedrooms Baths/Half Baths Basement No No No No Basement Finished Slab Slab Slab Slab Total Room # Garage/Carport 0 Parking Space 0 Parking Space 0 Parking Space 1 Carport Lot Size 0.18 Acres 0.11 Acres 0.18 Acres 0.17 Acres Other yes yes yes yes Comments on Listing Comparables GREAT investment property! Originally a duplex converted into a single family home. Excellent investment opportunity with 3BR/2Bths. Presently rented, & the renters have been there for over 5 years. VERY NICE 2 BEDROOM 1 BATH HOME, EXTRA ROOM CAN BE USED FOR 3 BEDROOM OR BONUS ROOM. ALL HARDWOOD FLOORS, SEPARATE LIVING ROOM AND DINING ROOM MAKES THIS HOME A GEM. VERY LARGE BACK YARD MAKE THIS HOME A "HOME RUN FOR THE KIDS". COME SEE WHAT THIS HOME HAS TO OFFER AT AN AFFORDABLE PRICE. "SOLD AS" Listing # 3 GOOD SOLID INVESTMENT PROPERTY IN REASONABLY GOOD SHAPE.PRICED RIGHT FOR QUICK SALE.THIS HOME HAS HARDWOOD FLOORS,SPACIOUS BACKYARD AND IS 1,188 SQ FT IN HOME.

5 VI. Recent Sales Subject Sale #1 Sale #2 Sale #3 Sale Comparables Sale # 1 Street Address 1497 Orlean Street, F/K/A 1498 Miller Street 666 E Waldorf Ave 1855 S Lauderdale St 1665 Shadowlawn Blvd City MEMPHIS Memphis Memphis Memphis State TN TN TN TN Zip Code Miles to Subject Community Name Orleans St Place Blk 1 Eatons Orleans St Longview Heights 4th Add Chandlers Shadowlawn Data Source Tax Records MLS MLS MLS MLS Number Original List Price $ $12900 $19900 $9900 Original List Date 9/19/2013 8/10/2014 5/6/2014 List Price at Sale $ $12800 $19900 $9900 Sale Price $ $11,000 $18,950 $11,200 Closing Date 3/14/2014 9/10/2014 6/17/2014 Type of Financing CASH CASH CASH CASH Type of Sale Arms Length Arms Length Arms Length REO Days On Market Year Built Condition Fair Fair Good Fair View Residential Residential Residential Residential Style/Design 1 Stry Trad 1 Stry Trad 1 Stry Trad 1 Stry Trad # of Units Gross Living Area Bedrooms Baths/Half Baths Basement No No No No Basement Finished Slab Slab Slab Slab Total Room # Garage/Carport 0 Parking Space 0 1 Detached 0 Parking Space Lot Size 0.18 Acres 0.10 Acres 0.17 Acres 0.17 Acres Other yes yes yes yes Overall Adjustment $800 $-2,000 $0 Adjusted Value $11,800 $16,950 $11,200 Comments on Sale Comparables All Bedrooms Down,Split Bedroom Plan,Other (See Remarks) Sale # 2 Great Investment Property or Family Home. Sale # 3 Good deal on this brick home! Offers 3 bedrooms 1 bath, separate dining room, separate laundry room and large back yard on level lot.

6 VII. Subject Photograph Addendum Subject Front Subject Front Subject Street Subject Street Subject Address Subject Address VIII. Current Listings Photograph Addendum

7 Current Listing Silverage Ave Memphis, TN Orig List Date: 7/25/2014 List Price: $15000 Sq. Ft.: 1008 Miles to Subject 1.10 Current Listing S Lauderdale St Orig List Date: 7/8/2014 List Price: $18995 Sq. Ft.: 936 Miles to Subject 0.5 Current Listing Victor St Orig List Date: 7/31/2014 List Price: $20000 Sq. Ft.: 1188 Miles to Subject 0.28

8 IX. Recent Sales Photograph Addendum Recent Sale E Waldorf Ave Closing Date: 3/14/2014 Sale Price: $11,000 Sq. Ft.: 1100 Miles to Subject 0.05 Recent Sale S Lauderdale St Closing Date: 9/10/2014 Sale Price: $18,950 Sq. Ft.: 1170 Miles to Subject 0.68 Recent Sale Shadowlawn Blvd Closing Date: 6/17/2014 Sale Price: $11,200 Sq. Ft.: 1002 Miles to Subject 0.49

9 XI. Map