CompCruncher CVR Sample Valuation

CVR®

C o l l a t e r a l V a l u a t i o n R e p o r t

Appraiser Produced • Statistically Supported • Competitively Priced

A Community of Collateral Valuation Specialists

Collateral Valuation Specialist:

Tom Markoski, State Certified Residential AppraiserTrust Real Estate Appraisal Services PLC

2525 East Paris Ave. Suite 100Grand Rapids, MI 49546

616.284.1886 | Cell: [email protected]

Bradford Technologies, Inc.CVR is a registered trademark of Bradford Technologies, Inc. • © 2014 All rights reserved. • 800-622-8727 • www.AppraisalWorld.com

CVR® - Collateral Valuation Report A Better, Faster and Stronger Appraisal

Collateral Valuation Developed for Today’s Market Needs

Today’s market requires valuations that are fast, accurate, compliant and affordable. The Collateral Valuation Report (CVR®) is an advanced appraisal product designed specifically for today’s market needs. The CVR takes appraising to the next level with robust market analytics including regression analysis.

The Collateral Valuation Specialists who provide CVRs are appraisers with local market experience and are trained in the use of new Computer-Aided Appraising technology which empowers them with the ability to analyze entire markets and consider hundreds of sales and listing, instead of just the traditional three sales. In addition, aerial, satellite, street view or drive-by imagery is also incorporated in the analysis to provide an enhanced understanding of the significant market features and influences that contribute to the value.

The CVR is also unique in that it includes a sales comparison analysis, a listing comparison analysis and a regression analysis to arrive at a final, reconciled market value producing one of the most transparent, bullet-proof, 100% USPAP compliant appraisals ever developed for the lending community.

The CVR is quite simply, the most innovative, new appraisal product on the market today.

CVR Benefits:• Appraisal enhanced with market analytics and statistics• Hundreds of sales and listings are analyzed instead of the

traditional three sales• Includes regression analysis of the market• Value conclusion is statistically supported• Report includes market characteristics, trends, and influences • Highly transparent and credible report• 100% USPAP Compliant

The Collateral Valuation Report is the ideal appraisal product for HELOCs, second mortgages, servicing valuations and portfolio analysis as well as review and litigation.

The CVR is the Most Innovative Appraisal Product in Decades


Produced by CompCruncher Software 800-622-8727v3.1.0, 2012-13 ©Bradford Technologies, Inc

REAL ESTATE COLLATERAL VALUATION REPORTFile No.

Client Borrower

Address City ST Zip

AMC NameCL

IEN

T

Address City ST Zip

Owner County

APN Census Tract

Property Rights Appraised Fee Simple Leasehold Other

Highest and Best Use

Legal Description

Total Rooms GLA Year Built

Bedrooms Site Area Stories

Full Baths Basement Sqft Design

Half Baths Bsmnt Finished Car Storage

Photo Source

FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date

Comments

SU

BJ

EC

T

Neighborhood Sales and Listing TrendsNeighborhood Name

Location Urban Suburban Rural

Built-Up Over 75% 25-75% Under 25%

Growth Rapid Stable Slow

One-Unit Housing Trends

Property Values Increasing Stable Declining

Demand/Supply Shortage In Balance Over Supply

Marketing Time Under 3 mths 3-6 mths Over 6 mths Sales Price: Subject vs Neighborhood

One-Unit Housing Market Trend Last 3 Months

PRICE AGE Total Sales

$ (000) (yrs) Total Listings

Low Median Sales Price

High Median List Price

Predominant List to Sales Ratio

Comments:

NE

IGH

BO

RH

OO

D

Reconciliation Comments

Indicated Value from Sales Comparison: $

Indicated Value from Listing Comparison: $

Indicated Value from Regression Analysis: $ .

This appraisal is based on the subject property "as is", the defined Scope

of Work, Statement of Assumptions and Limiting Conditions, and the

Appraiser's Certification. My opinion of the market value of the subejct

as of the effective date of this appraisal is:

Market Value:$

Effective Date:

RE

CO

NC

ILIA

TIO

N

Appraisal Sentry Report Signature - Protect Against Fraud

Signature

Name Date

Company

Address Property Inspection:

No Inspection

License # Exterior Only

Certification # Interior and Exterior

Other # Inspection Date:

State Expires

AP

PR

AIS

ER

Page of

So Cal Appraisal

1013bt1

Client No 1013BT1

Bradford Technologies John and Mary Smith

302 Piercy Rd. San Jose CA 95138

None

9344 GAINFORD ST DOWNEY CA 90240

John and Mary Smith LOS ANGELES

6390-017-010 5505.00

X

Single Family Residential

TRACT # 16348 LOT 10

11

5

4

0

2,986

10,080

0

0

1952

2 Story

Traditional

3

Pictometry

X X500L 09/26/2008 1830F

No permit history was available on-line through Build Fax to the appraiser.

Downey

X

X

X

X

X

X

194

1,201

415

0

65

62

40

68

460,000

575,000

0.95

Current market conditions are showing an upward value trend within the subject's marketing area for the past 12 months. This

information was taken from Trulia.com, DQnews, MLS, conversations with local realtors, and the appraiser's own knowledge of the area.

Average marketing/exposure time for the subject's marketing area is 1-4 months. Buyer interest still appears to be up while % rates are still at

favorable levels.

This report was based on photos of the subject property, statistical information gathered through the MLS, and the

appraiser's own knowledge of the area. All indicators of value were taken into consideration for this assignment.

**Note that the adjustments made in this report reflect what the subject's current market will bear. This was based on information gathered from

the regression analysis, the MLS, paired analysis, and the appraiser's own knowledge of the area.

730,000

745,000

717,742

730,000

10/16/2013

Anthony Russo 10/13/2013

So Cal Appraisal

7439 La Palma Avenue, #278

Buena Park, CA 90620

AL014908

266861

CA 01/31/2014

X

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Subject Property Photo The subject photo is on the front page. This makes it quick and easy to view the property and ensure it is the correct property being used for collateral.

Executive Summary Page A summary of the key features and values of the appraisal report

Date & Source of Photo Photo sources is indicated to ensure relevancy and reduce fraud.

Neighborhood Demographics The same neighborhood demographic information typically found on a 1004 report is also found on the CVR.

Neighborhood Trend Charts Trends for sales and listing prices and totals over a 12 month period. Median values are show.

Value Reconciliation The indicated values from Sales Comparison, Listing Comparison and Regression Analysis are shown.

Value Conclusion The appraiser’s value conclusion and effective date are clearly shown above the appraiser’s signature.

Appraiser Authentication The identity and appraisal credentials of CompCruncher Specialists have been authenticated against the ASC database.

Report Fraud Protection On document verification provides encrypted data with information about the appraisal and the appraiser.

Value Range Chart The Value Range Chart is unique to the CVR. In one chart, the range of values in the market, range of values in each analysis or approach, the indicated values from each and the value conclusion all relative to each other is displayed.

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CVR® - Collateral Valuation Report Summary Page

750



MARKET CONDITION AND TRENDSFile No.

Property Address

City County State Zip Code

Area Location Map Market Area Boundary Area: Sq. Miles

Neighborhood Name Sales and Listing Price Trend

Current Listings Range: $ to $

Sales Range: $ to $

Market Characteristics

Location Urban Suburban Rural

Built-Up Over 75% 25-75% Under 25%

Growth Rapid Stable Slow Total Sales and Listings Trend

Supply/Demand Shortage In-Balance Over-Supply

Price ($000) Age (yrs) BedRms GLA (sqft)

Low Range

High Range

Predominant

Market Activity Days on Market (Sales)

Time Period (Last): 10-12 Mos. 7-9 Mos. 4-6 Mos. 3 Mos.

Total Listings

Median List Price

Total Sales

Median Sales Price

Absorption Rate

Months of Supply

Sales DOM Absorption Rate

Listing DOM

Sale/List Price Ratio

Sales Price/Sq. Ft

Market Trends

Sales Price Trend Increasing Stable Decreasing

Listing Price Trend Increasing Stable Decreasing

Absorption Rate Increasing Stable Decreasing Months of Supply

Months of Supply Increasing Stable Decreasing

Listing/Sales Ratio Increasing Stable Decreasing

Days on Market Increasing Stable Decreasing

Property Values Increasing Stable Decreasing

Reasonable Exposure Time for Subject: Mos

Reasonable Marketing Time for Subject: Mos

Neighborhood Trends and Impact on Subject Property

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So Cal Appraisal

1013bt1

Client No 1013BT1

9344 GAINFORD ST

DOWNEY LOS ANGELES CA 90240

Approx. 2

Downey

68 180,000 5,559,000

141 193,000 1,200,000

X

X

X

X

194

1,201

415

0

65

62

2

6

3

720

6,424

1,300

32 36 49 68

389,999 499,450 459,950 575,000

39 30 32 40

390,000 396,500 475,000 460,000

6.50 10.00 10.67 13.33

4.9 3.6 4.6 5.1

82 62 64 59

99 104 95 54

0.99 1.00 0.99 0.95

242.06 239.00 262.11 287.75

X

X

X

X

X

X

X

1-4

1-4

Current market conditions are showing an upward value trend within the subject's

marketing area for the past 12 months. This information was taken from Trulia.com, DQnews, MLS, conversations with local realtors, and the

appraiser's own knowledge of the area. Average marketing/exposure time for the subject's marketing area is 1-4 months. Buyer interest still

appears to be up while % rates are still at favorable levels. Listing activity is showing a steady increase over the last year and sales are remaining

stable.

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CVR® - Collateral Valuation Report Market Condition and Trends

Market Area Location Map Enlarged view of the surrounding area shows the market area relative to other landmarks, freeways and market areas.

Market Condition & Trends Page Details, maps and charts describe the subject property’s market conditions

Market Area Detail Market area is graphically displayed on a location map to visually illustrate the location of the subject and market boundaries.

Neighborhood Characteristics The Neighborhood characteristics indicating location, buildup, growth and supply and demand.

Market Property Characteristics The high, low and predominant property characteristics of the market are shown.

12-Month Market Activity Sales and listing activity for the market area is tabulated for the last 12 months.

Market Analysis Results Important market factors such as market absorption and months of housing supply, the reasonable exposure time and estimated marketing time are calculated and shown.

12-Month Market Activity Charts Sales and listing activity for the last 12 months is graphically displayed for clear understanding of the trends.

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750



REGRESSION ANALYSISFile No.

Property Address

City County State Zip Code

Actual to Predicted Sales Price Accuracy Distribution

Regression Output Statistics

Statistical Measure Model Output Confidence Model Summary

R Squared Sample Size

Adjusted R Squared Data Quality

COV Comparison of Subject to Dataset

COD Overall Agreement with Model Output

Standard Error Overall Agreement with Model Accuracy

Component Contributions to Value

Component Low Value Most Likely High Value P-Value Significance

Regression Model Accuracy

Predicted Accuracy of the Regression Model using properties similar to the subject.

Address Prox. BedRms Baths GLA Bsmt Area Site Area Sale Date Sales Price Predicted % Diff

Subject Property

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Comments on Regression Analysis:

INDICATED VALUE BY REGRESSION ANALYSIS $

Page of

So Cal Appraisal

1013bt1

Client No 1013BT1

9344 GAINFORD ST

DOWNEY LOS ANGELES CA 90240

86.78% Good

86.04% Good

10.51% Acceptable

9.04% Good

10.95 Acceptable

114

Acceptable

Acceptable

Acceptable

Acceptable

Neighborhood Base Value 52,408

Gross Living Area 54 69 85 0.00001 Very High

Total Bathrooms 39,413 50,877 62,342 0.00002 Very High

Site Area 13.85 16.58 19.30 0.00000 Very High

Garage Car Spaces 2,588 13,994 25,400 0.22254 Low

Carport Car Spaces 0 0 0 0 Excluded

Basement Area 0 0 0 0 Excluded

Basement Finished Area 0 0 0 0 Excluded

Year Built 0 0 0 0 Excluded

Fireplace(s) 7,210 16,313 25,416 0.07595 Moderate

Pool 17,465 29,293 41,122 0.01483 High

Spa 0 0 0 0 Excluded

Sale Date 0 0 0 0 Excluded

5 4.00 2986 0 10,080 0 717,742

9125 Otto Street 0.298 5 4.00 3914 0 14,115 8/23/2013 812,000 834,948 3

10035 Birchdale Avenue 0.678 4 2.50 2226 0 10,747 9/12/2013 650,000 585,728 -10

9160 Dinsdale Street 0.248 4 3.00 2690 0 10,104 5/30/2013 685,000 632,691 -8

9040 Suva Street 0.494 3 3.00 2042 0 10,006 9/26/2013 605,000 586,122 -3

10555 Chaney Avenue 0.661 4 2.00 1698 0 7,821 9/24/2013 580,000 475,168 -18

9074 Farm Street 0.575 3 3.00 2614 0 7,491 9/13/2013 630,000 584,107 -7

10424 Brookshire Avenue 0.897 5 3.00 2660 0 8,407 6/28/2013 710,000 602,481 -15

9614 Gainford Street 0.386 3 2.00 1790 0 10,367 8/15/2013 600,000 523,751 -13

9383 Bigby Street 0.407 3 3.00 1792 0 7,870 7/29/2013 535,000 533,377 0

10418 Tristan Drive 0.682 5 2.50 2806 0 12,811 9/23/2013 560,000 630,875 13

Based on information gathered from the regression chart and the components of value, the regression output

statistics range from acceptable to very good for all categories. This was based on 114 observations used for this report. The indicated value

based on the regression analysis is lower than the sales comparison approach to value but the regression value is within the range of values for

the sales comparison approach and the difference in values is 1.8%. It is not uncommon for the regression value to be lower in a recovering

market.

717,742

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CVR® - Collateral Valuation Report Regression Analysis

Scatter Plot The accuracy of the correlation of the actual sales price to the predicted sales price is graphically illustrated..

Regression Analysis Page The value conclusion is supported by the application of regression to the sales within the market. Up to 500 sales may be analyzed during this process.

Predicted Accuracy Dispersal chart displaying the precision of the predicted values.

Regression Metrics The actual measure of accuracy of the regression analysis is shown along with the indicated confidence the appraiser has in the analysis.

Overall Analysis Summary In this area the appraiser rates the analysis and the goodness of the data that was used.

Components of Value Regression can identify the components of a property that contribute to its overall value. The value, its significance and whether the component is acceptable is indicated.

Top 10 Sale Comparables Sales are ranked by an analytical process. The top 10 sales in the market are used to illustrate the predication accuracy of the regression model applied to other properties similar to the subject.

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Bradford Technologis, Inc.302 Piercy Road • San Jose, CA 95138 • 800.622.8727 • www.BradfordSoftware.com • www.AppraisalWorld.com

Notes:

Have a question before you order? Contact Tom today! [email protected]

CompCruncher CVR Sample Valuation

Economy & Finance

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