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1. PROPERTY ADDRESS: LENDER NAME: REFERENCE NUMBER: REPORT DATE:
Summary 1770 Star Crest Pl, San Marcos, CA 92078 #201291029 01/16/2012
Subject Photo
Agent A Agent B Agent C MergeValue
As-Is Value $490,000 $467,000 $475,000 $480,000
Quick-Sale Value $451,000 $433,000 $450,000 $445,000
As-Repaired Value n/a n/a n/a n/a
Cost to Cure $0 $0 $0 $0
Range of Sold Comparables $450,000 - $522,000 $450,000 - $510,000 $450,000 - $500,000 $450,000-$522,000
Range of Listed Comparables $475,000 - $529,000 $435,000 - $485,000 $ 475,000 - $499,900 $435,000-$529,000 TopComps
Listed and sold comparables selected by multiple agents.
Neighborhood Market Trend Stable - Stable - Declining - Stable -
1 1710 Weatherwood Ct
San Marcos, CA 92078
Overall Market Trend Stable - Stable - Declining - Stable -
Comp Type: Sold
Comparable Metric Subject Average % Variance Average % Variance Average % Variance Average % Variance Sold Price: $450,000
Proximity: .26 miles
Proximity to Subject .128 Miles .196 miles .200 miles .175 miles 2523 Blue Oak Cl
2
San Marcos, CA 92078
Age of Sale 86 days 193 days 67 days 116 days Comp Type: Sold
Sold Price: $500,000
Comp Price $492,500 -0.51% $476,500 -2.03% $479,816 -1.0% $477,333 Proximity: .12 miles
Gross Living Area 2,922 2,870 -1.8% 2,559 -14.9% 2,899 -0.8% 2,776 -5.0% 3 1758 Weatherwood Ct
San Marcos, CA 92078
Bedrooms 5 4.33 -13.0% 3.83 -23.0% 5 0.0% 4.39 -12.0% Comp Type: Listed
Sold Price: $529,000
Bathrooms 3.5 3.58 2.0% 3.33 -5.0% 4 13.0% 3.6 4.0% Proximity: .08 miles
Site Size 0.11 acres 0.14 acres 22.8% 0.14 acres 22.8% 0.14 acres 22.8% 0.14 acres 22.8%
Age of Home 7 years 7 years 0.0% 8 years 14.0% 7.5 years 6.7% 7 years 6.7%
= Designates average comparable value closest to the subject property
CompTrend Agent Agreement Indicator MergeValue Confidence Score
High High
Sale Price/List Price ($)
A
15% 10% 5% MV
C
B
Sold Comparables
Listed Comparables
%
Days Since Sale/Days on Market
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2. PROPERTY ADDRESS: LENDER NAME: REFERENCE NUMBER: REPORT DATE:
Reconciliation 1770 Star Crest Pl, San Marcos, CA 92078 #201291029 01/16/2012
Reconciled Value Comments
While there was relative consensus between all three agents, Agent B’s lower value assessment is not supported by the more recent sales and
As-Is Value $485,000 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
Quick-Sale Value $451,000
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-Repaired Value n/a
Cost to Cure $0
Neighborhood Market Trend Stable -
Overall Market Trend Stable -
Subject Property Reconciled Value
S 1710 Weatherwood Ct $450,000
Selected Comps Proximity Type Price
R1 1710 Weatherwood Ct 0.26 mi Sold $450,000
R2 R2
2523 Blue Oak Cl 0.12 mi Sold $500,000
S
R3 1758 Weatherwood Ct 0.08 mi Listed $529,000 R4 R3
R4 1771 Star Crest Pl .012 mi Listed $479,000
R1
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3. PROPERTY ADDRESS: LENDER NAME: REFERENCE NUMBER: REPORT DATE:
Location Map 1770 Star Crest Pl, San Marcos, CA 92078 #201291029 01/16/2012
Subject Property Agents Proximity MergeValue
S 1770 Star Crest Pl. n/a $480,000
Top Comps A B C Proximity Price
T1 1710 Weatherwood Ct S1 S1 S1 0.26 mi $450,000
L7
T2 2523 Blue Oak Cl S2 S3 0.12 mi $500,000
T3 1758 Weatherwood Ct L2 L2 0.08 mi $529,000
L3 Unique Sold Comparables A B C Proximity Price
S3
S1 1784 Star Crest Pl S3 0.03 mi $537,000
T2 S2
L6
S1
L1 L5
S T3 S2 1782 Weatherwood Ct S2 0.07 mi $500,000
L2
L4 S3 1435 Rivercrest Rd S3 0.30 mi $510,000
S4 1707 Weatherwood Ct S2 0.26 mi $475,000
T1
S4 Unique Listed Comparables A B C Proximity Price
L1 2622 Fallsview Rd L1 0.20 mi $512,000
L2 1751 Weatherwood Ct L3 0.08 mi $529,000
L3 1544 Black Walnut Dr L1 0.43 mi $447,000
L4 1771 Star Crest Pl L2 0.02 mi $479,000
L5 1774 Weatherwood Cr L3 0.06 mi $485,000
L6 2519 Rockdale Pl L1 0.18 mi $575,000
L7 1686 Sagewood Way L3 0.30 mi $649,000
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4. PROPERTY ADDRESS: LENDER NAME: REFERENCE NUMBER: REPORT DATE:
Exterior Inspection 1770 Star Crest Pl, San Marcos, CA 92078 #201291029 01/16/2012
Subject Photo Neighborhood Valuation Drivers
Neighborhood Type Suburban Railroad Tracks No
Neighborhood Condition Good Airport/Flightpath No
Foreclosure Activity High Waste Management Facilities Yes
Boarded Homes No Gated Community No
Audible Freeway/Highway Noise No Community Pool/Park No
Overhead Powerlines No Nearby Schools Good
Commercial Uses No Other
Structural Assessment
Structural Damage No Evidence of Fire Damage No
Broken Doors/Windows No Evidence of Flood/Water Damage No
Property Inspection Summary
Property Use Single-Family Detached Major Cracks in Foundation/Walls No Evidence of Natural Disaster No
Exterior Condition Good
Repairs
Summarize 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.
Condition Relative to Adjacent Properties Similar
No repairs Required/Observed $0 $
Subject Visible From Street Yes
$ $
Style Typical of Neighborhood Yes
$ $
Occupancy Status Owner Occupied
Estimated Total of All Repairs $ Estimated Days to Complete Repairs 60 - 90 Days
Boarded Home No
Comments
Property Under Construction of Renovation No
The subject is in the desirable San Elijo Old Ranch community. The neighborhood is well maintained, compared to other
Real Estate Agent/For Sale Sign Visible No 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.
Parking Type Garage
Garage/Carport Capacity 2
Water/Property View No
Golf Course View No Agent Name License Number Inspection Date
Other Partial Mountain View S. Graydon Carter CA 00891045 1/15/2011
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5. PROPERTY ADDRESS: LENDER NAME: REFERENCE NUMBER: REPORT DATE:
Exterior Inspection 1770 Star Crest Pl, San Marcos, CA 92078 #201291029 01/16/2012
Subject Street View Left Profile RIght Profile
Street Scene (Left) Street Scene (Right) Subject Address
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6. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER:
REFERENCE NUMBER: REPORT DATE:
REPORT DATE:
Subject Star Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos, CA 92078
1770 Neighborhood 1770 Star Unk T3 #201291029 01/16/2012
01/16/2012
Subject Neighborhood View
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7. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER: NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent A Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos,Unk 92078
1770 Star 1770 Star CA T1 #201291029 01/16/2012
01/16/2012
Broker/Agent Estimate Market Overview Comments
As-Is Value $ 490,000 Neighborhood Market Trend Stable 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
Quick-Sale Value $ 451,000 Overall Market Trend Stable San Diego County is San Marcos. From miles of trails in the local hills,
to unique dining and shopping opportunit...
Cost-to-Cure n/a
Range of Comparable Sales $ 450,000 - $ 522,000 See page 6 for complete comments
see page 16 for complete comments
As-Repaired Value n/a
Range of Comparable Listings $ 475,000 - $ 529,000 Agent Name S. Graydon Carter
Subject Overview
Is the Subject Listed? No Market Supply Normal License Number CA 00891045
Bank Owned/REO No Foreclosure Activity High Valuation Date 01/16/2012
Subject Property Sold Comparables Listed Comparables
Street Address 1770 Star Crest Pl 1710 Weatherwood Ct 2523 Blue Oak Pl 1784 Star Crest Pl 2622 Fallsview Rd 1758 Weatherwood Ct 1751 Weatherwood Ct
San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA
92078 92078 92078 92078 92078 92078 92078
Proximity to Subject n/a 0.259 Miles 0.121 Miles 0.030 Miles 0.204 Miles 0.081 Miles 0.075 Miles
Sale Price n/a $ 450,000 $ 500,000 $ 522,000 n/a n/a n/a
Sale Date n/a 11/4/2011 12/1/2011 09/2/2011 n/a n/a n/a
REO/Short Sale No Short Sale Short Sale No Short Sale Short Sale Short Sale
Original List Price n/a $ 575,000 $ 524,000 $ 537,000 $ 512,000 $ 479,000 $ 529,000
Original List Date n/a 03/19/2011 09/01/2011 07/10/2011 12/03/2011 11/09/2011 12/01/2011
Current List Price n/a n/a n/a n/a $ 475,000 $ 479,000 $ 529,000
Current List Date n/a n/a n/a n/a 12/23/2011 11/09/2011 12/01/2011
Days on Market n/a 181 74 7 24 68 46
Year Built 2005 2005 2005 2005 2005 2005 2005
Gross Living Area 2,922 2,935 2,898 2,710 3,152 2,935 2,590
Total Basement Area n/a n/a n/a n/a n/a n/a n/a
Bedroom Count 5 5 4 4 5 4 4
Bathroom Count 3.50 4.50 3.00 3.50 3.50 4.00 3.00
Site Size 0.115 Acres 0.128 Acres 0.172 Acres 0.125 Acres 0.149 Acres 0.149 Acres 0.133 Acres
Garage Capacity 2 2 2 2 2 2 2
As Compared to Subject n/a Superior Inferior Similar or Model Match Similar or Model Match Inferior Similar or Model Match
Amenities
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8. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER:NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent A Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos, CA 92078
1770 Star 1770 Star Unk T1 #201291029 01/16/2012
01/16/2012
Sold Comparables
1710 Weatherwood Ct NA 2523 Blue Oak Pl NA 1784 Star Crest Pl NA
San Marcos, CA 92078 San Marcos, CA 92078 San Marcos, CA 92078
MLS Photo
Overhead View
Bird's Eye View
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9. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER:NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent A Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos, CA 92078
1770 Star 1770 Star Unk T1 #201291029 01/16/2012
01/16/2012
Listed Comparables
2622 Fallsview Rd 1758 Weatherwood Ct 1751 Weatherwood Ct
San Marcos, CA 92078 San Marcos, CA 92078 San Marcos, CA 92078
MLS Photo
Overhead View
Bird's Eye View
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10. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER: NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent B Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos,Unk 92078
1770 Star 1770 Star CA T2 #201291029 01/16/2012
01/13/2012
Broker/Agent Estimate Market Overview Comments
As-Is Value $ 467,000 Neighborhood Market Trend Stable San Marcos, San Elijo Old Creek Ranch Community. Highly desirable
when built about 7 years ago. The housing debacle plus
Quick-Sale Value $ 433,000 Overall Market Trend Stable unemployment affected many homeowners here as home values
tumbled. Being well informed consumers/high income earners, many
Cost-to-Cure n/a
Range of Comparable Sales $ 450,000 - $ 510,000 sough...
As-Repaired Value n/a See page 16for complete comments
see page 6 for complete comments
Range of Comparable Listings $ 435,000 - $ 485,000 Agent Name Thessy Onyenedum
Subject Overview
Is the Subject Listed? No Market Supply Undersupply License Number CA 01444072
Bank Owned/REO Yes Foreclosure Activity Valuation Date 01/13/2012
Subject Property Sold Comparables Listed Comparables
Street Address 1770 Star Crest Pl 1710 Weatherwood Ct 1782 Weatherwood Ct 1435 Rivercrest Rd 1544 Black Walnut Dr 1771 Star Crest Pl 1774 Weatherwood Ct
San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA
92078 92078 92078 92078 92078 92078 92078
Proximity to Subject n/a 0.259 Miles 0.066 Miles 0.295 Miles 0.427 Miles 0.019 Miles 0.060 Miles
Sale Price n/a $ 450,000 $ 500,000 $ 510,000 n/a n/a n/a
Sale Date n/a 10/4/2011 08/2/2011 09/9/2011 n/a n/a n/a
REO/Short Sale Short Sale No No No Short Sale REO Short Sale
Original List Price n/a $ 575,000 $ 514,000 $ 539,000 $ 447,000 $ 479,000 $ 485,000
Original List Date n/a 03/19/2011 07/07/2011 08/06/2011 11/25/2011 12/20/2011 01/03/2012
Current List Price n/a n/a n/a n/a $ 435,000 $ 479,000 $ 485,000
Current List Date n/a n/a n/a n/a 12/13/2011 12/20/2011 01/03/2012
Days on Market n/a 199 26 34 32 25 11
Year Built 2005 2005 2005 2002 2002 2005 2005
Gross Living Area 2,922 2,935 2,373 2,949 2,134 2,373 2,590
Total Basement Area n/a n/a n/a n/a n/a n/a n/a
Bedroom Count 5 5 3 4 4 3 4
Bathroom Count 4.00 5.00 3.00 3.00 3.00 3.00 3.00
Site Size 0.115 Acres 0.128 Acres 0.153 Acres 0.144 Acres 0.098 Acres 0.200 Acres 0.132 Acres
Garage Capacity 2 2 2 2 2 2 2
As Compared to Subject n/a Inferior Similar or Model Match Superior Inferior Similar or Model Match Superior
Amenities FP,Comm P FP,Comm P FP,Comm P
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11. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER:NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent B Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos, CA 92078
1770 Star 1770 Star Unk T2 #201291029 01/16/2012
01/13/2012
Sold Comparables
1710 Weatherwood Ct 1782 Weatherwood Ct 1435 Rivercrest Rd
San Marcos, CA 92078 San Marcos, CA 92078 San Marcos, CA 92078
MLS Photo
Overhead View
Bird's Eye View
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12. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER:NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent B Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos, CA 92078
1770 Star 1770 Star Unk T2 #201291029 01/16/2012
01/13/2012
Listed Comparables
1544 Black Walnut Dr 1771 Star Crest Pl 1774 Weatherwood Ct
San Marcos, CA 92078 San Marcos, CA 92078 San Marcos, CA 92078
MLS Photo
Overhead View
Bird's Eye View
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13. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER: NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent C Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos,Unk 92078
1770 Star 1770 Star CA T3 #201291029 01/16/2012
01/16/2012
Broker/Agent Estimate Market Overview Comments
The subject property is located in a desirable neighborhood with
As-Is Value $ 475,000 Neighborhood Market Trend Declining
highly rated public schools and a maintained community. The subject
Quick-Sale Value $ 450,000 Overall Market Trend Declining property last sold in May 2011, for $467,000 after originally being
listed for $530,000 in February 2011. The previous recorded sale in
Cost-to-Cure n/a March 2005 is recorded at $681,000. Although the surrounding market
Range of Comparable Sales $ 450,000 - $ 500,000
As-Repaired Value n/a See page 16 for complete comments
Range of Comparable Listings $ 475,000 - $ 499,900 Agent Name Michelle Thompson
Subject Overview
Is the Subject Listed? No Market Supply Oversupply License Number CA 01847788
Bank Owned/REO No Foreclosure Activity High Valuation Date 01/16/2012
Subject Property Sold Comparables Listed Comparables
Street Address 1770 Star Crest Pl 1710 Weatherwood Ct 1707 Weatherwood Ct 2523 Blue Oak Pl 2519 Rockdale Pl 1758 Weatherwood Ct 1686 Sagewood Way
San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA San Marcos, CA
92078 92078 92078 92078 92078 92078 92078
Proximity to Subject n/a 0.259 Miles 0.260 Miles 0.121 Miles 0.182 Miles 0.081 Miles 0.302 Miles
Sale Price n/a $ 450,000 $ 475,000 $ 500,000 n/a n/a n/a
Sale Date n/a 11/4/2011 10/28/2011 12/1/2011 n/a n/a n/a
REO/Short Sale No Short Sale Short Sale Short Sale Short Sale Short Sale Short Sale
Original List Price n/a $ 575,000 $ 499,000 $ 524,000 $ 575,000 $ 479,000 $ 649,900
Original List Date n/a 03/19/2011 03/07/2011 09/01/2011 06/17/2011 11/09/2011 07/17/2011
Current List Price n/a n/a n/a n/a $ 475,000 $ 479,000 $ 499,900
Current List Date n/a n/a n/a n/a 09/14/2011 11/09/2011 10/01/2011
Days on Market n/a 186 235 76 122 66 105
Year Built 2005 2005 2005 2005 2005 2005 2002
Gross Living Area 2,922 2,935 2,590 2,898 3,152 2,935 2,883
Total Basement Area n/a n/a n/a n/a n/a n/a n/a
Bedroom Count 5 5 4 5 5 4 5
Bathroom Count 4.00 4.50 2.50 3.00 4.00 3.50 4.00
Site Size 0.115 Acres 0.115 Acres 0.124 Acres 0.172 Acres 0.133 Acres 0.135 Acres 0.133 Acres
Garage Capacity 2 2 2 2 2 2 2
As Compared to Subject n/a Superior Inferior Similar or Model Match Superior Similar or Model Match Inferior
Amenities 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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14. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER:NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent C Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos, CA 92078
1770 Star 1770 Star Unk T3 #201291029 01/16/2012
01/16/2012
Sold Comparables
1710 Weatherwood Ct 1707 Weatherwood Ct 2523 Blue Oak Pl
San Marcos, CA 92078 San Marcos, CA 92078 San Marcos, CA 92078
MLS Photo
Overhead View
Bird's Eye View
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15. PROPERTY ADDRESS: PROPERTY ADDRESS: MORTGAGER NAME: LENDER NAME: REFERENCE NUMBER:NUMBER:
REFERENCE REPORT DATE:
REPORT DATE:
Agent C Crest Pl, San Marcos, CA 92078 Crest Pl, San Marcos, CA 92078
1770 Star 1770 Star Unk T3 #201291029 01/16/2012
01/16/2012
Listed Comparables
2519 Rockdale Pl 1758 Weatherwood Ct 1686 Sagewood Way
San Marcos, CA 92078 San Marcos, CA 92078 San Marcos, CA 92078
MLS Photo
Overhead View
Bird's Eye View
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16. PROPERTY ADDRESS: MORTGAGER NAME: REFERENCE NUMBER: REPORT DATE:
1770 Star Crest Pl, San Marcos,PROPERTY ADDRESS:
CA 92078 Unk LENDER NAME: T1 REFERENCE NUMBER: REPORT DATE:
01/16/2012
Additional Comments 1770 Star Crest Pl, San Marcos, CA 92078 #201291029 01/16/2012
Vendor Comments
Agent A 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. From
miles 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 west
across 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 arteries
are: 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 San
Marcos, 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 with
enrollment 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 another
priority 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 being
driven 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 seen
within 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 wouldPROPERTY ADDRESS: COE of similar gla and dna within subject market area within the past 6 months. Subject market area, on the average,
rank subject #15 of 46 MORTGAGER NAME: REFERENCE NUMBER: REPORT DATE:
is closing 7.6 homes per month of homes with similar gla and DNA as CA 92078 recorded sale was 05/12/2011 SP $467k last recorded Mortgage was 03/16/2011 amount
1770 Star Crest Pl, San Marcos, subject. Last Unk T2 01/13/2012
$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 5.9
months of inventory on the market within subject market area of similar homes.
Vendor Comments
Agent B Comments
San Marcos, San Elijo Old Creek Ranch Community. Highly desirable when built about 7 years ago. The housing debacle plus unemployment affected many homeowners
here as home values tumbled. Being well informed consumers/high income earners, many sought loan modifications. Those unsuccessful were forced to short sale/be
foreclosed on. Declining curb appeal given long DOM. Home prices here not likely to drop further as economy appears to be stabilizing.
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.
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