Market Analysis

VALUATION WORKBOOK

410 NW 18th Ave, Apt 402, Portland, OR 97209Prepared for John Mesberg

Presented by

Charity AdamsFile ID: 410 NW 18th Ave, Apt 402, Portland, OR 97209

Mobile: (503) 381-6334

http://www.charitymadams.com

M Realty LLC.2211 NW Front Ave #101Portland, OR 97209

Copyright 2013 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity.

10/16/2013

http://www.charitymadams.com

410 NW 18th Ave, Apt 402, Portland, OR 97209Listing Date: 10/4/2013

MLS Name: RMLS™ Oregon and SW WashingtonMLS Listing ID: 13240155

New, Active: 10/4/2013

$341,650 (or $328 / Sq. Ft.)

RVM® Confidence:

Legend: Subject Property

Result of Sales Comparison Analysis

Last Analysis Update: 10/16/2013

Number of Comps Chosen

8Comps Range

$219,000 – $425,000

List Price

$365,000Last Price Update: –Days in System: 11

Current Estimated Value

$352,880Last RVM® Update: 9/15/2013Days in System: 11

RVM® Est. Range: $314,064 – $391,696

RVM® Change - Last 1 Month: –

RVM® Change - Last 12 Months: 25.13%

Homeowner Facts

Owner Name Chandler Text Or CallMailing Address 410 Nw 18th Ave Portland OR 97209-2237Owner Occupied YCurrent Lender ONPOINT COMMUNITY CUOriginal Loan Amt. $169,000

This report contains data and information that is publicly available and/or licensed from third parties and is provided to you on an "as is" and "as available" basis. Theinformation is not verified or guaranteed. Neither this report nor the estimated value of a property is an appraisal of the property. Any valuation shown in this report has beengenerated by use of proprietary computer software that assembles publicly available property records and certain proprietary data to arrive at an approximate estimate of aproperty's value. RPR and its information providers shall not be liable for any claim or loss resulting from the content of, or errors or omissions in, information contained in thisreport.

File ID: 410 NW 18th Ave, Apt 402, Portland, OR 97209

Copyright 2013 Realtors Property Resource® LLC. All Rights Reserved. Information is not guaranteed. Equal Housing Opportunity. 10/16/2013

Date Improvements Land Total Tax2011 – + – = $44,480 $7072009 – + – = $44,480 –2008 – + – = $44,480 –2007 – + – = – –2006 – + – = – –

Sales Date / MLS name DOM10/4/2013 11

3/9/2010 1,268

8/5/2009 1,484

10/21/2005 2,868

Property HistoryLegal Description

Parcel Number: 1N1E33DB 60014Zoning: –Abbreviated Description: SEC/TWN/RNG/MER:SEC 33 TWN 1N RNG 1E PARCEL #: 1N1E33DB 60014 WICKERSHAM CONDOMINIUMS, LOT 402,

HISTORIC PROPERTY, POTENTIAL ADDITIONAL TAXCensus Tract: 410510049.003010City/Municipality/Township: Portland, OR 97209

Tax and Assessed Values

Listing and Sales HistoryAmount Status Change Date

RMLS™ Oregon and SW Washington $365,000 Active 10/4/2013

RMLS™ Oregon and SW Washington $311,000 Recently Sold 8/28/2013

RMLS™ Oregon and SW Washington $347,800 Recently Expired 8/28/2013

RMLS™ Oregon and SW Washington $310,000 Recently Sold 8/28/2013



Sales and Financing ActivityThis chart shows a property's sales and financing history. It can be used to compare the value of the property as seen by public records, such as deeds and tax records,with the estimated home value. Actions taken against the owner, such as the issuance of a Notice of Default, are noted. Sales activity, such as listing date and pricereductions, are highlighted.

KEY Sale ListingActivity

FinancingActivity

DistressedActions

AssessedValue

AssessorMarket Value

AVM orRVM®

Sales CompValuation

Est. LoanBalance

Data Source: Public records and proprietary data from Lender Processing Services (LPS); listing data from on- and off-market listings sourcesUpdate Frequency: Valuations are updated twice monthly; actions on the home, such as listing activity or distressed property notices, are updated daily as madeavailable from public records sources



$341,650 (or $328 / Sq. Ft.)

Result of Sales Comparison Analysis

Last Analysis Update: 10/16/2013

Number of Comps Chosen

8Comps Range

$219,000 – $425,000

Comps:

Subject Property (Appraisal Price)For Sale (List Price)Pending (List Price)Recently Sold (Sold Price)Distressed (List Price)Pending Distressed (List Price)Off Market (Estimate)

Historical Range ofComparable HomesCompares the estimated value of thesubject property with the highest,median and lowest comps selected inthe Sales Comparison Analysis.

Subject Property Estimated Value

Sales Comparables Analysis Summary

Current Range of Comparable Homes

Compares the estimated value of the subject property with the comps selected in the Sales Comparison Analysis.

$200K $370K$342KSubject

#6 #8 #5 #4,7 #2,1 #3



Comps and Adjustments Map410 NW 18th Ave, Apt 402, Portland, OR 97209

410 NW 18th Ave, Apt 303, Portland, OR 97209



2129 NW Northrup St, Apt 5, Portland, OR 97210

2336 SW Osage St, Unit 506, Portland, OR 97205

Price:$365,000

2 bed1.0 bath1,042 sq ft

New, Active: 10/4/2013

Price:$415,000

Adjusted:$340,000


Sold Date: 7/25/2013 Public records

Price:$410,000

Adjusted:$335,000



Price:$425,000

Adjusted:$350,000


Pending: 9/23/2013

Price:$311,250



Price:$299,000





Comps and Adjustments Map20 NW 16th Ave, Apt 4, Portland, OR 97209

2046 NW Flanders St, Apt 34, Portland, OR 97209

2129 NW Northrup St, Apt 4, Portland, OR 97210

Price:$219,000

2 bed1.0 bath750 sq ft

Pending: 10/4/2013

Price:$311,900


Active: 7/5/2013

Price:$275,000


Active: 9/13/2013



Property Photos: 410 NW 18th Ave, Apt 303, Portland, OR 97209



Property Photos: 2129 NW Northrup St, Apt 5, Portland, OR 97210



Property Photos: 2336 SW Osage St, Unit 506, Portland, OR 97205



Property Photos: 2046 NW Flanders St, Apt 34, Portland, OR 97209



Property Photos: 2129 NW Northrup St, Apt 4, Portland, OR 97210



Trend(span)

Trend(span)

Local Market Conditions: SummaryThe Local Market Conditions tables summarize trends and statistics in the local market: the area around the subject property that was searched for comps in the SalesComparison Analysis.

Results shown in this report are derived from a search of MLS records for 1 to 3 bedroom, – to 2 bathroom, 781 to 1,303 sq. ft., condo/townhouse listings located within0.8 miles of the subject property.

Inventory Analysis Last 7-12 Months(6-month period)

Last 4-6 Months(3-month period)

Last 3 Months(3-month period)

Trend(Total)

Sales 175 157% 137 108% 148 169%Absorption Rate (sales/month) 29.17 157% 45.67 108% 49.33 169%Total # of Active Listings (on last day) 144 110% 158 74% 117 81%Months of Housing Supply 4.9 70% 3.5 69% 2.4 48% Median Comp Sales Price $349,500 117% $350,000 124% $347,750 124%Median Comp Sales DOM 145 77% 111 50% 56 39%Median Comp Listing Price $409,950 100% $408,450 107% $435,000 106%Median Comp Listing DOM – – – – – –Median Sales Price as % of List Price 0.99% 100% 0.99% 100% 0.99% 100%

Comparable Propertiesin Local Market

Currentlyfor Sale

Sales Within theLast 12 Months

Count 116 375Range $109,900 – $2,950,000 $106,000 – $1,700,000Average $588,094 $417,714Median $435,000 $348,000

Property Attributes Minimum Maximum Average

Date Built 1883 2009 1981Living Area (sq ft) 348 4,896 1,164Lot Size 18,731 41,818 31,653# Samples 605 – –



Trend(span)

Trend(span)

Local Market Conditions: Sales of Similar-Size PropertiesThese tables show the sales trends for properties similar in size to the subject property in the local market: the area around the subject property that was searched forcomps in the Sales Comparison Analysis. They are calculated in variations that include and exclude distressed listings.

Results shown in this report are derived from a search of MLS records for 1 to 3 bedroom, – to 2 bathroom, 781 to 1,303 sq. ft., condo/townhouse listings located within0.8 miles of the subject property.

INCLUDINGDistressed Listings



Last 3 Months(3-month period)

Trend(Total)

Sales 175 157% 137 108% 148 169%Absorption Rate (sales/month) 29.17 157% 45.67 108% 49.33 169%Total # of Active Listings (on last day) 144 110% 158 74% 117 81%Months of Housing Supply 4.9 70% 3.5 69% 2.4 48% Median Comp Sales Price $349,500 117% $350,000 124% $347,750 124%Median Comp Sales DOM 145 77% 111 50% 56 39%Median Comp Listing Price $409,950 100% $408,450 107% $435,000 106%Median Comp Listing DOM – – – – – –Median Sales Price as % of List Price 0.99% 100% 0.99% 100% 0.99% 100%

WITHOUT Distressed ListingsSales 175 157% 137 108% 148 169%Absorption Rate (sales/month) 29.17 157% 45.67 108% 49.33 169%Total # of Active Listings (on last day) 144 110% 158 73% 116 81%Months of Housing Supply 4.9 70% 3.5 68% 2.4 48% Median Comp Sales Price $349,500 117% $350,000 125% $347,750 125%Median Comp Sales DOM 145 77% 111 50% 55 38%Median Comp Listing Price $409,950 100% $408,450 107% $437,000 107%Median Comp Listing DOM – – – – – –Median Sales Price as % of List Price 0.99% 100% 0.99% 100% 0.99% 100%

ONLY Distressed ListingsSales – – – – – –Absorption Rate (sales/month) – – – – – –Total # of Active Listings (on last day) – – – – 1 –Months of Housing Supply – – – – – – Median Comp Sales Price – – – – – –Median Comp Sales DOM – – – – 83 –Median Comp Listing Price – – – – $285,000 –Median Comp Listing DOM – – – – – –Median Sales Price as % of List Price – – – – – –



Median Days in SystemThis graph displays the median days insystem in the local market.

Days on Site

Months Supply of HousingInventoryThis chart shows the trend in housinginventory in the local market.

Inventory

Absorption RateThis chart shows the trend in absorptionrate in the local market.

Absorption Rate



Median Sales Price by SquareFootageThis chart shows the median price ofhomes reported sold in the past sixmonths, according to the size of theliving space, in the area of your search.The amount shown for the subjectproperty is sold data where available, orthe property's estimated value whensales data are unavailable (such as anon-disclosure state) or provided inrange format.Data Source: MLS and public recordsdata from Lender Processing Services(LPS)Update Frequency: Monthly

This HouseComps97209

Price Range of Homes SoldThis chart shows the distribution ofhomes reported sold in the past sixmonths within different price ranges inthe area of your search. The amountshown for the subject property is solddata where available, or the property'sestimated value when sales data areunavailable (such as a non-disclosurestate) or provided in range format.Data Source: MLS and public recordsdata from Lender Processing Services(LPS)Update Frequency: Monthly




Price per Square Foot ofHomes SoldThis chart shows the distribution ofhomes reported sold in the past sixmonths at different prices per squarefoot in the area of your search.Data Source: MLS and public recordsdata from Lender Processing Services(LPS)Update Frequency: Monthly


Age Range of Homes SoldThis chart shows the distribution ofhomes reported sold in the past sixmonths of different age ranges in thearea of your search.Data Source: MLS and public recordsdata from Lender Processing Services(LPS)Update Frequency: Monthly


Number of Bedrooms inHomes SoldThis chart shows the distribution ofhomes reported sold in the past sixmonths, according to the number ofbedrooms, in the area of your search.Data Source: MLS and public recordsdata from Lender Processing Services(LPS)Update Frequency: Monthly

Sales Count by Bedroom



© RMLS™ 2013. ALL RIGHTS RESERVED. - INFORMATION NOT GUARANTEED AND SHOULD BE VERIFIED.SQUARE FOOTAGE IS APPROXIMATE & MAY INCLUDE BOTH FINISHED & UNFINISHED AREAS - CONSULT BROKER FOR INFO.

SCHOOL AVAILABILITY SUBJECT TO CHANGE.

Pricing Your HomePrice Sqft $/Sqft CDOM

Status # Minimum Average Median Maximum Average Median Average Average Median

ACT 2 $275,000 $293,450 $293,450 $311,900 1,125 1,125 261PEN 2 $219,000 $322,000 $322,000 $425,000 1,018 1,018 316 79 79SLD 6 $299,000 $358,375 $357,500 $415,000 1,116 1,101 321 35 30

Total Listings: 10Sold Properties closed averaging 98.01% of their Final List Price. This reflects a 1.99% differencebetween Sale Price and List Price. If SNL status or Sold Auction listings are included, the Sold Price to ListPrice ratio will be affected because the ratio is always 100% for SNL and Sold Auction listings.

Amount $/Sqft

Min. List Price: $219,000 $292Avg. List Price: $342,470 $312Max. List Price: $425,000 $330Average Sale Price: $358,375 $321Recommended List Price

Min: $334,482 $321Max: $357,700 $343Recommended: $347,000 $333

How the Recommended Price Looks in the Market

Market Analysis

Documents

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