BPO Merge Sample
description
Transcript of BPO Merge Sample
CompTrend Agent Agreement Indicator MergeValue Confidence Score
High
Average Average Average Average% Variance % Variance % Variance % Variance
.196 miles
193 days
$476,500
2,559
3.83
3.33
0.14 acres
8 years
.200 miles
67 days
$479,816
2,899
5
4
0.14 acres
7.5 years
.175 miles
116 days
$477,333
2,776
4.39
3.6
0.14 acres
7 years
-2.03%
-14.9%
-23.0%
-5.0%
22.8%
14.0%
-1.0%
-0.8%
0.0%
13.0%
22.8%
6.7%
-5.0%
-12.0%
4.0%
22.8%
6.7%
Days Since Sale/Days on Market
Sal
e P
rice/
List
Pric
e ($
)
Sold Comparables Listed Comparables
As-Is Value
Quick-Sale Value
As-Repaired Value
Cost to Cure
Range of Sold Comparables
Range of Listed Comparables
Neighborhood Market Trend
Overall Market Trend
Comparable Metric
Proximity to Subject
Age of Sale
Comp Price
Gross Living Area
Bedrooms
Bathrooms
Site Size
Age of Home
Subject
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 1/16
TopCompsListed and sold comparables selected by multiple agents.
Subject Photo
$490,000
$451,000
n/a
$0
$450,000 - $522,000
$475,000 - $529,000
Stable -
Stable -
$467,000
$433,000
n/a
$0
$450,000 - $510,000
$435,000 - $485,000
Stable -
Stable -
$475,000
$450,000
n/a
$ 0
$450,000 - $500,000
$ 475,000 - $499,900
Declining -
Declining -
$480,000
$445,000
n/a
$0
$450,000-$522,000
$435,000-$529,000
Stable -
Stable -
.128 Miles
86 days
$492,500
2,870
4.33
3.58
0.14 acres
7 years
2,922
5
3.5
0.11 acres
7 years
-0.51%
-1.8%
-13.0%
2.0%
22.8%
0.0%
Agent A Agent B Agent C MergeValue
1710 Weatherwood Ct San Marcos, CA 92078Comp Type: SoldSold Price: $450,000Proximity: .26 miles
2523 Blue Oak Cl San Marcos, CA 92078Comp Type: SoldSold Price: $500,000Proximity: .12 miles
1758 Weatherwood Ct San Marcos, CA 92078Comp Type: ListedSold Price: $529,000Proximity: .08 miles
= Designates average comparable value closest to the subject property
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2
3
High
%%
MV
A
B C5%10%15%
Summary
While there was relative consensus between all three agents, Agent B’s lower value assessment is not supported by the more recent sales and listings in the neighborhood. Agents A&C have indicated while that this market was heavily hit by foreclosures and short sales, it has begun to stabilize. A recent listing for a smaller property accross the street is currently listed at $479,000. It’s a bank owned, REO property, but even if there were consessions and price reductions, it is much smaller than the subject property. Along with the overall sales trend, it’s my opinion that a reconciled value is supported by the evidence supplied. It’s likely that in the near future this market will stabilize and gain some mild appreciation in 2012.
As-Is Value
Quick-Sale Value
As-Repaired Value
Cost to Cure
Neighborhood Market Trend
Overall Market Trend
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 2/16
$485,000
$451,000
n/a
$0
Stable -
Stable -
Reconciled Value Comments
Reconciliation
Subject Property Reconciled Value
1710 Weatherwood Ct $450,000
Selected Comps Proximity Type Price
1710 Weatherwood Ct 0.26 mi Sold $450,000
2523 Blue Oak Cl 0.12 mi Sold $500,000
1758 Weatherwood Ct 0.08 mi Listed $529,000
1771 Star Crest Pl .012 mi Listed $479,000
R1
R1
R2 R2
R3 R3
R4
S
S
R4
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 3/16
S2
Location Map
Subject Property Agents Proximity MergeValue
1770 Star Crest Pl. n/a $480,000
Top Comps A B C Proximity Price
1710 Weatherwood Ct S1 S1 S1 0.26 mi $450,000
2523 Blue Oak Cl S2 S3 0.12 mi $500,000
1758 Weatherwood Ct L2 L2 0.08 mi $529,000
Unique Sold Comparables A B C Proximity Price
1784 Star Crest Pl S3 0.03 mi $537,000
1782 Weatherwood Ct S2 0.07 mi $500,000
1435 Rivercrest Rd S3 0.30 mi $510,000
1707 Weatherwood Ct S2 0.26 mi $475,000
Unique Listed Comparables A B C Proximity Price
2622 Fallsview Rd L1 0.20 mi $512,000
1751 Weatherwood Ct L3 0.08 mi $529,000
1544 Black Walnut Dr L1 0.43 mi $447,000
1771 Star Crest Pl L2 0.02 mi $479,000
1774 Weatherwood Cr L3 0.06 mi $485,000
2519 Rockdale Pl L1 0.18 mi $575,000
1686 Sagewood Way L3 0.30 mi $649,000
S
T1
T1
S1
S1
L1
L1 S2
L2
L2
S3
S3
L3
L3
T2
T2
T3
T3
S4
S4
L4
L4
L5
L5
L6
L6
L7
L7
S
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 4/16
Subject Photo
Property Inspection Summary
Neighborhood Valuation Drivers
Structural Assessment
RepairsSummarize all repairs needed to bring this property from its present “as is” condition to average for the neighborhood. Check those repairs you recommend that we perform for successful marketing of the property.
Comments
Property Use
Exterior Condition
Condition Relative to Adjacent Properties
Subject Visible From Street
Style Typical of Neighborhood
Occupancy Status
Boarded Home
Property Under Construction of Renovation
Real Estate Agent/For Sale Sign Visible
Parking Type
Garage/Carport Capacity
Water/Property View
Golf Course View
Other
Neighborhood Type
Neighborhood Condition
Foreclosure Activity
Boarded Homes
Audible Freeway/Highway Noise
Overhead Powerlines
Commercial Uses
Structural Damage
Broken Doors/Windows
Major Cracks in Foundation/Walls
Estimated Total of All Repairs
Agent Name License Number Inspection Date
The subject is in the desirable San Elijo Old Ranch community. The neighborhood is well maintained, compared to other neighborhoods with similar foreclosure/short sale problems. The subject property appears occupied, and very well maintained. The high pride in ownership supports a value on the mid- to higher- end of the comparable range. No repairs were visible from the exterior.
Estimated Days to Complete Repairs
Railroad Tracks
Airport/Flightpath
Waste Management Facilities
Gated Community
Community Pool/Park
Nearby Schools
Other
Evidence of Fire Damage
Evidence of Flood/Water Damage
Evidence of Natural DisasterSingle-Family Detached
Good
Similar
Yes
Yes
Owner Occupied
No
No
No
Garage
2
No
No
Partial Mountain View
Suburban
Good
High
No
No
No
No
No
No
No
$ 0
$
$
$
No repairs Required/Observed
S. Graydon Carter CA 00891045 1/15/2011
No
No
Yes
No
No
Good
No
No
No
$
$
$
60 - 90 Days
Exterior Inspection
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 5/16
Subject Street View Left Profile RIght Profile
Street Scene (Left) Street Scene (Right) Subject Address
Exterior Inspection
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 6/16
Subject NeighborhoodPROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T3REPORT DATE:
01/16/2012
Subject Neighborhood View
www.valuationvision.com Order: 6 | Page 5/5
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 7/16
Agent APROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T1REPORT DATE:
01/16/2012Broker/Agent Estimate Market Overview Comments
Subject Overview
As-Is Value $ 490,000Quick-Sale Value $ 451,000
Cost-to-Cure n/a
As-Repaired Value n/a
Is the Subject Listed? No
Bank Owned/REO No
Neighborhood Market Trend Stable
Overall Market Trend Stable
Range of Comparable Sales $ 450,000 - $ 522,000
Range of Comparable Listings $ 475,000 - $ 529,000
Market Supply Normal
Foreclosure Activity High
Subject is a 5/3.5 sfr located in the suburban City of San MarcosCounty of San Diego Ca. Located in the beautiful foothills of northernSan Diego County is San Marcos. From miles of trails in the local hills,to unique dining and shopping opportunit...see page 6 for complete comments
Agent Name S. Graydon Carter
License Number CA 00891045
Valuation Date 01/16/2012
Subject Property Sold Comparables Listed Comparables
Street Address 1770 Star Crest PlSan Marcos, CA92078
1710 Weatherwood CtSan Marcos, CA92078
2523 Blue Oak PlSan Marcos, CA92078
1784 Star Crest PlSan Marcos, CA92078
2622 Fallsview RdSan Marcos, CA92078
1758 Weatherwood CtSan Marcos, CA92078
1751 Weatherwood CtSan Marcos, CA92078
Proximity to Subject n/a 0.259 Miles 0.121 Miles 0.030 Miles 0.204 Miles 0.081 Miles 0.075 MilesSale Price n/a $ 450,000 $ 500,000 $ 522,000 n/a n/a n/aSale Date n/a 11/4/2011 12/1/2011 09/2/2011 n/a n/a n/aREO/Short Sale No Short Sale Short Sale No Short Sale Short Sale Short SaleOriginal List Price n/a $ 575,000 $ 524,000 $ 537,000 $ 512,000 $ 479,000 $ 529,000Original List Date n/a 03/19/2011 09/01/2011 07/10/2011 12/03/2011 11/09/2011 12/01/2011Current List Price n/a n/a n/a n/a $ 475,000 $ 479,000 $ 529,000Current List Date n/a n/a n/a n/a 12/23/2011 11/09/2011 12/01/2011Days on Market n/a 181 74 7 24 68 46Year Built 2005 2005 2005 2005 2005 2005 2005Gross Living Area 2,922 2,935 2,898 2,710 3,152 2,935 2,590Total Basement Area n/a n/a n/a n/a n/a n/a n/aBedroom Count 5 5 4 4 5 4 4Bathroom Count 3.50 4.50 3.00 3.50 3.50 4.00 3.00Site Size 0.115 Acres 0.128 Acres 0.172 Acres 0.125 Acres 0.149 Acres 0.149 Acres 0.133 AcresGarage Capacity 2 2 2 2 2 2 2As Compared to Subject n/a Superior Inferior Similar or Model Match Similar or Model Match Inferior Similar or Model MatchAmenities
www.valuationvision.com Order: 4 | Page 1/6
See page 16 for complete comments
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 8/16
Agent APROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T1REPORT DATE:
01/16/2012
Sold Comparables
1710 Weatherwood Ct NASan Marcos, CA 92078
2523 Blue Oak Pl NASan Marcos, CA 92078
1784 Star Crest Pl NASan Marcos, CA 92078
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PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 9/16
Agent APROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T1REPORT DATE:
01/16/2012
Listed Comparables
2622 Fallsview RdSan Marcos, CA 92078
1758 Weatherwood CtSan Marcos, CA 92078
1751 Weatherwood CtSan Marcos, CA 92078
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PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 10/16
Agent BPROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T2REPORT DATE:
01/13/2012Broker/Agent Estimate Market Overview Comments
Subject Overview
As-Is Value $ 467,000Quick-Sale Value $ 433,000
Cost-to-Cure n/a
As-Repaired Value n/a
Is the Subject Listed? No
Bank Owned/REO Yes
Neighborhood Market Trend Stable
Overall Market Trend Stable
Range of Comparable Sales $ 450,000 - $ 510,000
Range of Comparable Listings $ 435,000 - $ 485,000
Market Supply Undersupply
Foreclosure Activity
San Marcos, San Elijo Old Creek Ranch Community. Highly desirablewhen built about 7 years ago. The housing debacle plusunemployment affected many homeowners here as home valuestumbled. Being well informed consumers/high income earners, manysough...see page 6 for complete commentsAgent Name Thessy Onyenedum
License Number CA 01444072
Valuation Date 01/13/2012
Subject Property Sold Comparables Listed Comparables
Street Address 1770 Star Crest PlSan Marcos, CA92078
1710 Weatherwood CtSan Marcos, CA92078
1782 Weatherwood CtSan Marcos, CA92078
1435 Rivercrest RdSan Marcos, CA92078
1544 Black Walnut DrSan Marcos, CA92078
1771 Star Crest PlSan Marcos, CA92078
1774 Weatherwood CtSan Marcos, CA92078
Proximity to Subject n/a 0.259 Miles 0.066 Miles 0.295 Miles 0.427 Miles 0.019 Miles 0.060 MilesSale Price n/a $ 450,000 $ 500,000 $ 510,000 n/a n/a n/aSale Date n/a 10/4/2011 08/2/2011 09/9/2011 n/a n/a n/aREO/Short Sale Short Sale No No No Short Sale REO Short SaleOriginal List Price n/a $ 575,000 $ 514,000 $ 539,000 $ 447,000 $ 479,000 $ 485,000Original List Date n/a 03/19/2011 07/07/2011 08/06/2011 11/25/2011 12/20/2011 01/03/2012Current List Price n/a n/a n/a n/a $ 435,000 $ 479,000 $ 485,000Current List Date n/a n/a n/a n/a 12/13/2011 12/20/2011 01/03/2012Days on Market n/a 199 26 34 32 25 11Year Built 2005 2005 2005 2002 2002 2005 2005Gross Living Area 2,922 2,935 2,373 2,949 2,134 2,373 2,590Total Basement Area n/a n/a n/a n/a n/a n/a n/aBedroom Count 5 5 3 4 4 3 4Bathroom Count 4.00 5.00 3.00 3.00 3.00 3.00 3.00Site Size 0.115 Acres 0.128 Acres 0.153 Acres 0.144 Acres 0.098 Acres 0.200 Acres 0.132 AcresGarage Capacity 2 2 2 2 2 2 2As Compared to Subject n/a Inferior Similar or Model Match Superior Inferior Similar or Model Match SuperiorAmenities FP,Comm P FP,Comm P FP,Comm P
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See page 16 for complete comments
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 11/16
Agent BPROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T2REPORT DATE:
01/13/2012
Sold Comparables
1710 Weatherwood CtSan Marcos, CA 92078
1782 Weatherwood CtSan Marcos, CA 92078
1435 Rivercrest RdSan Marcos, CA 92078
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PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 12/16
Agent BPROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T2REPORT DATE:
01/13/2012
Listed Comparables
1544 Black Walnut DrSan Marcos, CA 92078
1771 Star Crest PlSan Marcos, CA 92078
1774 Weatherwood CtSan Marcos, CA 92078
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PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 13/16
Agent CPROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T3REPORT DATE:
01/16/2012Broker/Agent Estimate Market Overview Comments
Subject Overview
As-Is Value $ 475,000Quick-Sale Value $ 450,000
Cost-to-Cure n/a
As-Repaired Value n/a
Is the Subject Listed? No
Bank Owned/REO No
Neighborhood Market Trend Declining
Overall Market Trend Declining
Range of Comparable Sales $ 450,000 - $ 500,000
Range of Comparable Listings $ 475,000 - $ 499,900
Market Supply Oversupply
Foreclosure Activity High
Agent Name Michelle Thompson
License Number CA 01847788
Valuation Date 01/16/2012
Subject Property Sold Comparables Listed Comparables
Street Address 1770 Star Crest PlSan Marcos, CA92078
1710 Weatherwood CtSan Marcos, CA92078
1707 Weatherwood CtSan Marcos, CA92078
2523 Blue Oak PlSan Marcos, CA92078
2519 Rockdale PlSan Marcos, CA92078
1758 Weatherwood CtSan Marcos, CA92078
1686 Sagewood WaySan Marcos, CA92078
Proximity to Subject n/a 0.259 Miles 0.260 Miles 0.121 Miles 0.182 Miles 0.081 Miles 0.302 MilesSale Price n/a $ 450,000 $ 475,000 $ 500,000 n/a n/a n/aSale Date n/a 11/4/2011 10/28/2011 12/1/2011 n/a n/a n/aREO/Short Sale No Short Sale Short Sale Short Sale Short Sale Short Sale Short SaleOriginal List Price n/a $ 575,000 $ 499,000 $ 524,000 $ 575,000 $ 479,000 $ 649,900Original List Date n/a 03/19/2011 03/07/2011 09/01/2011 06/17/2011 11/09/2011 07/17/2011Current List Price n/a n/a n/a n/a $ 475,000 $ 479,000 $ 499,900Current List Date n/a n/a n/a n/a 09/14/2011 11/09/2011 10/01/2011Days on Market n/a 186 235 76 122 66 105Year Built 2005 2005 2005 2005 2005 2005 2002Gross Living Area 2,922 2,935 2,590 2,898 3,152 2,935 2,883Total Basement Area n/a n/a n/a n/a n/a n/a n/aBedroom Count 5 5 4 5 5 4 5Bathroom Count 4.00 4.50 2.50 3.00 4.00 3.50 4.00Site Size 0.115 Acres 0.115 Acres 0.124 Acres 0.172 Acres 0.133 Acres 0.135 Acres 0.133 AcresGarage Capacity 2 2 2 2 2 2 2As Compared to Subject n/a Superior Inferior Similar or Model Match Superior Similar or Model Match InferiorAmenities FP,Comm P FP,Comm P FP,Comm P FP,Comm P FP,Comm P FP,Comm P FP,Comm P
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See page 16 for complete comments
The subject property is located in a desirable neighborhood with highly rated public schools and a maintained community. The subject property last sold in May 2011, for $467,000 after originally being listed for $530,000 in February 2011. The previous recorded sale in March 2005 is recorded at $681,000. Although the surrounding market
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 14/16
Agent CPROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T3REPORT DATE:
01/16/2012
Sold Comparables
1710 Weatherwood CtSan Marcos, CA 92078
1707 Weatherwood CtSan Marcos, CA 92078
2523 Blue Oak PlSan Marcos, CA 92078
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PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 15/16
Agent CPROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T3REPORT DATE:
01/16/2012
Listed Comparables
2519 Rockdale PlSan Marcos, CA 92078
1758 Weatherwood CtSan Marcos, CA 92078
1686 Sagewood WaySan Marcos, CA 92078
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PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078REFERENCE NUMBER:
#201291029LENDER NAME: REPORT DATE:
01/16/2012
www.kirchmeyergroup.com Order: 192102 | Page 16/16
Additional Comments
PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T1REPORT DATE:
01/16/2012
Vendor Comments
Subject is a 5/3.5 sfr located in the suburban City of San Marcos County of San Diego Ca. Located in the beautiful foothills of northern San Diego County is San Marcos. Frommiles of trails in the local hills, to unique dining and shopping opportunities in its retail centers. Just a 35-minute drive south to downtown San Diego; while a short jaunt westacross north county takes you to the majestic shores of the beautiful Pacific Ocean. San Marcos is bisected by SR 78 between Interstates 5 and 15. Other regional arteriesare: San Marcos Blvd/Palomar Airport Road, Rancho Santa Fe Road and Twin Oaks Valley/San Elijo Road. Home to Palomar College and California State University SanMarcos, the City has also become the heart of education in San Diego North. California State University at San Marcos (CSUSM) is currently serving 9,200 students withenrollment increasing annually. Palomar College has an enrollment in excess of 30,000 full and part-time students. A dedication to parks and community services is anotherpriority for the City of San Marcos.
This is a significant REO/SHORT SALES activity area that may have two markets, resulting in a mix of conventional buyers and investors. Subject market is currently beingdriven with distressed sales, which are mostly short sales. Short sales as a form of marketing has grown in popularity due to unemployment and falling prices as is seenwithin subject market area. Longer than average DOM may be caused by the short sale process. Any boarded up and or vacant homes within subject market area, currently,will have no affect on subject value.
Sold at As-is market value would rank subject #15 of 46 COE of similar gla and dna within subject market area within the past 6 months. Subject market area, on the average,is closing 7.6 homes per month of homes with similar gla and DNA as subject. Last recorded sale was 05/12/2011 SP $467k last recorded Mortgage was 03/16/2011 amount$544k second on 03/16/2011 amount $136k. MLS shows subject listed on 02/07/2011 COE on 5/12/2011 DOM 87 OLP $530k SLP $473k SP $467k. There is currently 5.9months of inventory on the market within subject market area of similar homes.
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PROPERTY ADDRESS:
1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:
UnkREFERENCE NUMBER:
T2REPORT DATE:
01/13/2012
Vendor Comments
San Marcos, San Elijo Old Creek Ranch Community. Highly desirable when built about 7 years ago. The housing debacle plus unemployment affected many homeownershere as home values tumbled. Being well informed consumers/high income earners, many sought loan modifications. Those unsuccessful were forced to short sale/beforeclosed on. Declining curb appeal given long DOM. Home prices here not likely to drop further as economy appears to be stabilizing.
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Agent A Comments
Agent B Comments
Agent C Comments
The subject property is located in a desirable neighborhood with highly rated public schools and a maintained community. The subject property last sold in May 2011, for $467,000 after originally being listed for $530,000 in February 2011. The previous recorded sale in March 2005 is recorded at $681,000. Although the surrounding market values have decreased significantly since 2005, it appears there is a increased demand for properties in the market and values are slowly starting to appreciate from last year, however, there are still a high number foreclosures and short sales on the market which will affect conventional sales.