PROPERTY ADDRESS:

1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012Broker/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 02/3/2012

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 91 7 43 87 65Year 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 4.00 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 P

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PROPERTY ADDRESS:

1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012

Location Map Overhead Subject Image

Bird's Eye View

Street View

Subject Property Proximity Estimated Value

1770 Star Crest Pl, San Marcos, CA 92078 n/a $ 490,000

Sold Comparables Proximity Sold Price

1710 Weatherwood Ct, San Marcos, CA 92078 0.259 mi $ 450,000

2523 Blue Oak Pl, San Marcos, CA 92078 0.121 mi $ 500,000

1784 Star Crest Pl, San Marcos, CA 92078 0.030 mi $ 522,000

Listed Comparables Proximity Listed Price

2622 Fallsview Rd, San Marcos, CA 92078 0.204 mi $ 475,000

1758 Weatherwood Ct, San Marcos, CA 92078 0.081 mi $ 479,000

1751 Weatherwood Ct, San Marcos, CA 92078 0.075 mi $ 529,000

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PROPERTY ADDRESS:

1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012

Sold Comparables

1710 Weatherwood CtSan Marcos, CA 92078

2523 Blue Oak PlSan Marcos, CA 92078

1784 Star Crest PlSan Marcos, CA 92078

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PROPERTY ADDRESS:

1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012

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 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012

Subject Neighborhood View

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PROPERTY ADDRESS:

1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012

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.

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Exterior InspectionPROPERTY ADDRESS:

1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012Subject Photo Neighborhood Valuation Driver

Structural Assessment

Repairs

Comments

Property Inspection Summary

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.

Neighborhood Type Suburban

Neighborhood Condition Good

Forclosure Activity High

Boarded Homes No

Audible Freeway/Highway Noise No

Overhead Powerlines No

Commercial Uses No

Railroad Tracks No

Airport/Flightpath No

Waste Management Facilities Yes

Gated Community No

Community Pool/Park No

Nearby Schools Good

Other

Structural Damage No

Broken Doors/Windows No

Major Cracks in Foundation/Walls No

Evidence of Fire Damage No

Evidence of Flood/Water Damage No

Evidence of Natural Disaster No

Estimated Total of All Repairs $ 0 Estimated Days to Complete Repairs

Property Use Single-Family Attached

Exterior Condition Good

Condition Relative to Adjacent Properties Similar

Subject Visible From Street Yes

Style Typical of Neighborhood Yes

Occupancy Status No

Boarded Home No

Property Under Construction of Renovation No

Real State Agent/For Sale Sign Visible No

Parking Type Attached Garage

Garage/Carport Capacity 2

Waterfront View No

Golf Course View No

Other Partial Mountain View

The subject is in the desirable San Elijo Old Ranch community. The neighborhood is well maintained, compared to otherneighborhoods with similar foreclosure/short sale problems. The subject property appears occupied, and very well maintained. The highpride in ownership supports a value on the mid- to higher- end of the comparable range. No repairs were visible from the exterior.

Agent NameS. Graydon Carter

License NumberCA 00891045

Inspection Date02/3/2012

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Exterior InspectionPROPERTY ADDRESS:

1770 Star Crest Pl, San Marcos, CA 92078MORTGAGER NAME:

SmithREFERENCE NUMBER:

123456REPORT DATE:

02/03/2012Subject Front View Subject Left Profile Subject Right Profile

Street Scene (Left) Street Scene (Right) Subject Address

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