Residential Broker Price Opinion (BPO)

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Residential Broker Price Opinion (BPO) This BPO is the

Initial

2nd Opinion

Updated

DATE 06-23-15

Exterior Only

Date Format (00/00/00)

ASSET NUMBER:

SALES REPRESENTATIVE:

PROPERTY ADDRESS:

DOE MILL ROAD (80 acres) APN 063-010-061-000

CLIENT NAME:

FOREST RANCH

COMPLETED BY:

CA

95942

FIRM NAME:

FAX NO.

PHONE NO.

EMAIL

PARCEL NO.

I.

063-010-061

GENERAL MARKET CONDITIONS Current market condition:

Depressed



Slow

Stable

Employment conditions:

Declining



Stable

Increasing

Market price of this type property has:

Decreased

%

in past

months

Increased

%

in past

months

Estimated percentages of owner vs. tenants in neighborhood: Normal supply

II.

Excellent

Remained stable



There is a

Improving

% owner occupant

95

oversupply



shortage of comparable listings in the neighborhood

Approximate number of comparable units for sale in neighborhood:

0

No. of competing listings in neighborhood that are REO or Corporate owned:

0

No. of boarded or blocked-up homes:

0

Location Description:

Suburban

New Construction: Incentives Offered:

% tenant

Urban

Yes



No

Yes



No



Rural

SUBJECT MARKETABILITY Range of values in the neighborhood is $ The subject is an

to $

over improvement

under improvement



Normal marketing time in the area is:

30 days

Appropriate improvement for the neighborhood.

60 days Yes

Are all types of financing available for the property? Has the property been on the market in the last 12 months?



90 days ■

Yes

120 days

150 days



No

If no, explain

No

If yes, How Long?

92 DAYS

If yes, $

list price (include MLS printout)

180 days

VACANT LAND

To the best of your knowledge, why did it not sell? Unit Type:

single family detached

condo

co-op

single family attached

townhouse

modular

monthly

If condo or other association exists: Fee $

The fee includes: Association Contact:

Yes1o

Pool

monthly

annually

Current?

Yes

No

Name:

Management Company:

monthly

annually

Current?

Yes

Name:

Agent believes subject property is Subject property has basement?

Average

No

Fee delinquent? $

Phone No.: ■

Vacant

Occupied

Favorable Yes

Neutral



Unfavorable

No

If subject property is Mobile Home,is it Attached to foundation? ■

Fee delinquent? $

Phone No.:

Agent believes subject property is

Good

Fee delinquent? $

Other

Tennis

Phone No.:

If Management Company exists: Fee $

Owner Pride

land only

Name:

If HOA exists: Fee $

HOA Contact:

annually&urrent?

Landscape

Insurance

mobile home ■

Yes

No

Yes

No

Below Average

Does Agent feel there would be a resale problem?



Agent resale comments: LIMITED DEMAND FOR PURCHASE IN THE AREA. THE POPULATION OF FOREST RANCH IS LESS THAN 1000. THERE IS ONE CONVENIENCE STORE, A FIRE STATION, A POST OFFICE AND AN ELEMENTARY SCHOOL. ALL OTHER AMENITIES ARE LOCATED OVER 20 MILES AWAY. A LARGE PARCEL LIKE THIS HAS LIMITED VALUE AS THERE IS NO MARKET TO SUBDIVIDE AND DEVELOP IT, AND DUE TO ELEVATION AND WEATHER CONDITIONS, IT IS NOT CONDUCIVE TO OTHER INCOME PRODUCING AVENUES LIKE LIVE STOCK AND CULTIVATION.

Page 1 of 4

III. COMPETITIVE CLOSED SALES ITEM

SUBJECT

COMPARABLE NUMBER 1

COMPARABLE NUMBER 2

COMPARABLE NUMBER 3

Address DOE MILL ROAD (80 acres) APN 063-010-061-000

City

0 NAMECO

FOREST RANCH

State

CA

Postal Code On Original BPO

95942

Basement Prox. to Subject (miles) List Price Sale Price

Yes



No

Yes



No

Yes



No

Yes



No

Yes



No

Yes



No

* Proximity

$ $ $

Data Source

TAX

MLS/TAX

Sale Date Days on Market

93

6

VALUE ADJUSTMENTS

DESCRIPTION

DESCRIPTION

Sq.Ft.

$

$

Sq.Ft.

MLS/TAX

NONE-SEE OFER NOTES

No

Sq.Ft.

MLS/TAX

DESCRIPTION

+(-) Adjustment

No ■

$ $

$

.03 Sq.Ft.

Yes

* Proximity

$ $

Price/Gross Living Area

Sales or Financing Concessions Leasehold/Fee Simple

* Proximity

$ $

Yes



DESCRIPTION

+(-) Adjustment

+(-) Adjustment

NONE-DOM-SEE OFFER NOTES

NONE-DOM

FS

FS

0 FS

0 FS

0

Site Design and Appeal

RURAL

RURAL

0 RURAL

0 RURAL

0

LAND

LAND

0 LAND

0 LAND

0

Quality of Construction

NA

NA

0 NA

0 NA

0

Age

0

0

0 0

0 0

0

Condition

NA

Above Grade Room Count Gross Living Area

Total

Bdms

0

0

0 NA

NA Baths

Total

0

Bdms

Baths

0

0

0

0 Sq.Ft.

0

0

0 Sq.Ft.

Lot Size Basement & Finished Rooms Below Grade

0 NA

Total

Bdms

0

0

Baths

0

Total

0

0

0 Sq.Ft.

0

Bdms

0

Baths

0

0

0 Sq.Ft.

0 0 0

NA

NA

0

NA

0 NA

0

Functional Utility

NA

NA

0

NA

0 NA

0

Heating/Cooling

NA

NA

0

NA

0 NA

0

Energy Efficient Items

NA

NA

0

NA

0 NA

0

Garage/Carport

0

0

0

0

0 0

0

Porches, Patio, Deck Fireplace(s), etc.

NA

NA

Fence, Pool, etc.

NA

Location ■

View

Good

Avg

Fair

Poor

Poor

0

NA



Good

Avg

Fair

Poor

Poor

Fair

Avg



Good

Poor

Fair

Good

Avg

Poor

Fair

Avg

Good

Fair

Poor

Good

Fair Good Fair

Overall Rating Compared

Avg

Fair

0 NA

Avg



Int Condition’s Appeal

Good

0

0

Good

Avg

Ext Condition’s Appeal



NA 0



Good

Floor Plan Utility

Other

NA



Lot Characteristics

NA 0



Good

Avg

Fair

Poor

Good

Avg

Poor



Fair

Poor

Avg



Good

Avg

Poor

Fair

Poor

Good

Avg

Good

Avg

Poor

Fair

Poor

Fair

Poor

Avg

Good

Avg

Good

Avg

Fair

Poor

Fair

Poor

Fair

Poor

Avg

Good

Avg

Good

Avg

Good

Avg

Fair

Poor

Fair

Poor

Fair

Poor

Fair

Poor

Good

Avg

Good

Avg

Good

Avg

Good

Avg

Fair

Poor

Fair

Poor

Fair

Poor

Fair

Poor

Good

Avg

Poor



Fair

Avg



Good

Poor

Fair

Good

Avg

Fair Good

NO UTILITIES

NO UTILITIES

0

POWER/CREEK



NATURAL WATER

Net Adj. (total) Adjusted Sales Price of Comparable Sale # 1 Inspected?



Yes

Sale # 2 Inspected?

Yes

Sale # 3 Inspected?

Yes



No

Comments:

BUYERS OWNED THE 3 PARCELS SURRONDING THIS PARCEL. ADMITEDLY OVER PAID

No

Comments:

POWER AND NATURAL WATER ON SITE

No

Comments:

NATURAL WATER ON SITE. MULTIPLE OFFERS. SEE NOTES.

IV. MARKETING STRATEGY ■

As-is

Minimal Lender Required Repairs

* Most Likely Buyer:

1st Time Buyer

Repaired

Move Up Buyer

Page 2 of 4

Investor

Seller Assisted

V. REPAIRS Itemize ALL repairs needed to bring property from its present “as is” condition to average marketable condition for the neighborhood. Check those repairs you recommend that we perform for most successful marketing of the property.

* Insurable Damage?

Y

N



Item

Estimated Cost

Item

Estimated Cost

$ $ $ $ $

$ $ $ $ $

GRAND TOTAL FOR ALL REPAIRS $

0

Estimated days to complete all repairs

VI. COMPETITIVE LISTINGS ITEM

SUBJECT

COMPARABLE NUMBER 1

COMPARABLE NUMBER 2

COMPARABLE NUMBER 3

Address DOE MILL ROAD (80 acres) APN 063-010-061-000 0 DOE MILL RD

0

0

City

FOREST RANCH

FOREST RANCH

FOREST RANCH

FOREST RANCH

State

CA

CA

CA

CA

Postal Code

95942

95942

95942

95942

Original List Price Days since last reduction

0

On Original BPO

Yes



No

Basement

Yes



No

Prox. to Subject (miles) List Price List Date

$

Price/Gross Living Area

$

Data and/or Verification Sources

TAX

VALUE ADJUSTMENTS

Yes



No

Yes

* Proximity



Yes



No

* Proximity

.

$ Sq.Ft.

$

No

Yes



No

No

Yes



No

* Proximity $

$

Sq.Ft.

$

Sq.Ft.

MLS/TAX

DESCRIPTION

Sales or Financing Concessions



$

MLS/TAX

DESCRIPTION

Yes

MLS/TAX

DESCRIPTION

+(-) Adjustment

DESCRIPTION

+(-) Adjustment

NONE

NONE

Sq.Ft.

+(-) Adjustment

NONE 0

0

Days on Market

0

0 19

0

0 FS 0 RURAL

0

Leasehold/Fee Simple

FS

Site Design and Appeal

RURAL

FS RURAL

0 FS 0 RURAL

LAND

LAND

0 LAND

0 LAND

0

Quality of Construction

NA

NA

0 NA

0 NA

0

Age

0

0

0 0

0 0

0

Condition

NA

NA

0 NA

0 NA

Above Grade Room Count Gross Living Area

Total

Bdms

0

0

Lot Size Basement & Finished Rooms Below Grade

Baths

Total

0

Bdms

Baths

0

0

0

0 Sq.Ft.

0

0

0 Sq.Ft.

Total

Bdms

0

0

Baths

0

Total

0

0

0 Sq.Ft.

0

0

Bdms

0

0

Baths

0

0

0 Sq.Ft.

0

NA

NA

0 NA

0 NA

Functional Utility

NA

NA

0 NA

0 NA

0

Heating/Cooling

NA

NA

0 NA

0 NA

0

Energy Efficient Items

NA

NA

0 NA

0 NA

0

Garage/Carport

0

0

0 0

0 0

0

NA

NA

Porches, Patio, Deck Fireplace(s), etc. Fence, Pool, etc.

Ext Condition’s Appeal Int Condition’s Appeal Overall Rating Compared Other

0

0 NA

0 NA

0

Avg

Good

Poor

Fair

Good

Avg

Good

Avg



Fair

Poor



Fair

Poor



Good

Avg



Good

Avg

Fair

Poor

Fair

Poor

Good

Avg

Good

Avg

Poor

Fair

Poor

Fair

Poor

Avg

Good

Avg

Good

Avg

Poor

Fair

Poor

Fair

Poor

Good

Avg

Good

Avg

Poor

Fair

Poor

Fair

Poor

Avg

Good

Avg

Good

Avg

Poor

Fair

Poor

Fair

Poor

Good

Fair

Poor

Fair

Poor

Good

Avg

Good

Avg



Fair

Poor



Fair

Poor



Good

Avg



Good

Avg

Fair

Poor

Fair

Poor

Good

Avg

Good

Avg

Fair

Poor

Fair

Good

Avg

Good

Fair

Poor

Fair

Good

Avg

Good

Avg

Fair

Poor

Fair

Good

Avg

Good

Fair

Poor

Fair

NO UTILITIES

0

Fair

Avg

Lot Characteristics

NA

0

Good

Good ■

Floor Plan Utility

NA

NA

Location

View

NA

0

Avg





POWER

-

NO UTILITIES

Net Adj. (total)

Avg ■

Poor

0 SEE NOTES -

Adjusted Sales Price of Comparable Listing # 1 Inspected?

Yes



No

Comments:

SMALLER. SAME STREET. POWER ON SITE

Listing # 2 Inspected?

Yes



No

Comments:

ONLY PENDING LAND COMP IN THE AREA. 3 PARCELS. $49K PER 112 ACRES

Listing # 3 Inspected?

Yes

No

Comments:

LOT CLEARED, DRIVEWAY, BUILDING PAD AND POWER IN PLACE

Page 3 of 4

0

VII. THE MARKET VALUE

60-90 Day Value AS IS REPAIRED

* $

Suggested List Price 75000

$

$ $

VII. NARRATIVE Condition of property:

.

Refurbish vs. As is Analysis: NA

Recommended Inspections and why: NA

Identify any positive or negative location influences:

Property summary - include postive/negative influences that would impact the sale:

Signature:

Date:

06/23/2015 Date Format (00/00/00)

Page 4 of 4