SUMMARY RESIDENTIAL APPRAISAL REPORT TABLE OF CONTENTS

Transcription

1 File No SUMMARY RESIDENTIAL APPRAISAL REPORT Date of Valuation JULY 30, 2008 Subject Property MOORE, OK LOT 9, BLOCK 6, ROSE CREEK III For Hi-Rate Mortgages 1040 Sunnymeade Pl. Oklahoma City, OK TABLE OF CONTENTS Summary of Salient Features... 1 GP Consumer Short Form... 2 Additional Comparables General Text Addendum... 8 Building Sketch (Page - 1)... 9 Flood Map Plat Map Map Subject Photos Comparable Photos Comparable Photos Form TCV_LT "WinTOTAL" appraisal software by a la mode, inc ALAMODE

2 FHA/VA Case No Page #1 of 15 SUMMARY OF SALIENT FEATURES Subject Address Legal Description LOT 9, BLOCK 6, ROSE CREEK III SUBJECT INFORMATION City County State Zip Code MOORE CLEVELAND OK Census Tract Map Reference SE 184 SALES PRICE Sale Price Date of Sale $ 193,500 7/11/2008 CLIENT Borrower Lender/Client AMANDA R PACKER / THOMAS M ROODE Hi-Rate Mortgages Size (Square Feet) 2,106 DESCRIPTION OF IMPROVEMENTS Price per Square Foot Condition Total Rooms Bedrooms $ YEARS 6 3 Baths 2.5 APPRAISER Appraiser Date of Appraised Value Joel Baker JULY 30, 2008 VALUE Opinion of Value $ 202,000 Form SSD2 "WinTOTAL" appraisal software by a la mode, inc ALAMODE

3 Vertically Challenged Appraisals - invalid fake name FHA/VA Case No Page #2 of 15 Appraisal Report 2843 SE 8TH Terr Yukon, OK (800) Appraised Value as of: JULY 30, 2008 $ 202,000 FEATURES Style/Design: Living Area (Sq.Ft.): Total Bedrooms: Year Built: Condition: 1 STY BV/RV Lot Size: 2,106 Neighborhood: ROSE CREEK III 3 Total Baths: Effective : 1 YEAR Date of Report: PREPARED FOR Client: Address: City: Hi-Rate Mortgages 1040 Sunnymeade Pl. Oklahoma City State: OK Zip: Phone: Fax: PREPARED BY Appraiser's Signature Name: Joel Baker Designation: Certification or License #: Expiration Date: joel@vcappraisals.com ST: FILING Client File #: Appraiser File #: The value opinion expressed above is only valid in conjunction with the attached appraisal report. This value opinion may be subject to Hypothetical Conditions and/or Extraordinary Assumptions as indicated in the body of the report. A true and complete copy of this Summary Appraisal Report contains pages. Copyright 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. Form GPCSF_LT "WinTOTAL" appraisal software by a la mode, inc ALAMODE 10/2007

4 RESIDENTIAL APPRAISAL SUMMARY REPORT SUBJECT PROPERTY IDENTIFICATION Property Address: City: MOORE State: OK Zip Code: County: CLEVELAND FHA/VA Case No Page #3 of 15 Legal Description of Real Property: LOT 9, BLOCK 6, ROSE CREEK III Tax Assessor's Parcel #: R.E. Taxes: $ 2, Tax Year: 2007 Special Assessments: $ N/A Current Owner of Record: JASON & ANGELA IMES Occupancy: Owner Tenant Vacant Current Occupant (if occupied): Vacant Project Type (if applicable): Planned Unit Development Condominium Cooperative Home Owners' Association Membership Fees (if applicable): $ per year per month Market Area Name: ROSE CREEK III Map Reference: SE 184 Census Tract: ASSIGNMENT The purpose of this appraisal is to develop a Current opinion of Market Value (as defined elsewhere in this report). Property Rights Appraised: Fee Simple Leasehold Leased Fee Other (describe) N/A Intended Use: Intended User(s) (by name or type): Client: Hi-Rate Mortgages Address: 1040 Sunnymeade Pl., Oklahoma City, OK Appraiser: Joel Baker Address: 3705 W Memorial, Oklahoma City, OK MARKET AREA DESCRIPTION : Urban Suburban Rural Built Up: Over 75% 25-75% Under 25% Growth Rate: Rapid Stable Slow Property Values: Increasing Stable Declining Demand/Supply: Shortage In Balance Over Supply Marketing Time: Under 3 Mos. 3-6 Mos. Over 6 Mos. Typical One-Unit Housing Ranges: Price: ($) Low 150 High 300 Predominant 200+/- : (yrs.) Low 0 High 4 Predominant 2+/- Present Land Use: One-Unit: 100 % 2-4 Unit: 0 % Multi-Unit: 0 % Comm'l: 0 % 0 % Change in Land Use: Not Likely Likely * Is Changing * * To: Market Area Comments: TYPICAL INTERIOR SITE FOR THE NEIGHBORHOOD WITH STANDARD BUILDING LINES AND UTILITY RESERVES. REAR YARD IS ENCLOSED BY WOOD FENCING. SITE IS AUTOMATICALLY SPRINKLED. NO ADVERSE SITE CONDITIONS WERE OBSERVED. SALE / TRANSFER / LISTING HISTORY OF SUBJECT PROPERTY My research: Did Did not reveal any prior sales or transfers of the subject property for the three years prior to the Effective Date of this appraisal. Data Source(s): Date of Prior Sale / Transfer: Price of Prior Sale / Transfer: COURTHOUSE RECORDS 1st Prior Sale / Transfer 2nd Prior Sale / Transfer 3nd Prior Sale / Transfer 12/7/2006 $201,500 Source(s) of Prior Sale / Transfer Data: COURTHOUSE RECORDS Analysis of sale / transfer history, any current agreements of sale or listing, and listing history (if relevent): COURTHOUSE RECORDS INDICATE THE SUBJECT PROPERTY SOLD AS A NEW HOME AS SHOWN ABOVE. COMPARABLE #3 SOLD PREVIOUSLY AND ITS BUYER WAS RELOCATED OUT OF STATE 6 MONTHS AFTER MOVING IN. COURTHOUSE RECORDS INDICATE NO OTHER PREVIOUS TRANSACTIONS INVOLVING THE SUBJECT PROPERTY DURING THE PAST 36 Client: Hi-Rate Mortgages Client File No.: Appraiser File No.: Copyright 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. Form GPCSF_LT "WinTOTAL" appraisal software by a la mode, inc ALAMODE 10/2007

5 RESIDENTIAL APPRAISAL SUMMARY REPORT SITE DESCRIPTION FHA/VA Case No Page #4 of 15 Dimensions: SEE LOAN SURVEY Area: 8,276+/- S.F. Zoning Classification: R - 1 Zoning Description: SINGLE FAMILY RESIDENTIAL Zoning Compliance: Legal Legal Non-Conforming (Grandfathered) Illegal No Zoning Regulations Deed Restrictions: Are Covenants, Conditions, & Restrictions (CC&Rs) applicable? Yes No Unknown Have the documents been reviewed? Yes No N/A Ground Rent (if applicable) $ / Comments: Highest & Best Use, as improved, is the: Present use, or Other use (explain) N/A Characteristics: Topography: Size: Shape: RECTANGULAR Drainage: : SIMILAR HOMES Landscaping: Other features: Inside Lot Corner Lot Cul de Sac Underground Utilities Utilities: Public Other Provider/Description Electricity: Gas: Water: Sanitary Sewer: Off-site Improvements: Type Public Private Street: ASPHALT Curb/Gutter: Sidewalk: Alley: Is the property or the improvements located in a FEMA Special Flood Hazard Area? Yes No FEMA Flood Zone: X FEMA Map # 40027C0041F FEMA Map Date: 3/17/1997 Comments: THE SUBJECT PROPERTY POSSESSES A TYPICAL INTERIOR SITE FOR THE NEIGHBORHOOD WITH STANDARD BUILDING LINES AND UTILITY RESERVES. REAR YARD IS ENCLOSED BY WOOD FENCING. SITE IS AUTOMATICALLY SPRINKLED. NO ADVERSE SITE CONDITIONS WERE OBSERVED. DESCRIPTION OF THE IMPROVEMENTS General Description: # of Units: 1 + Accessory Unit # of Stories: 1 Design (Style): 1 STY BV/RV Type: Detached Attached Status: Existing Proposed Under Construction Actual (years): 2 YEARS Effective (years): 1 YEAR Year Built: 2006 Exterior Description: Foundation: Roof Surface: Window Type(s): COMPOSITION/GD SH VINYL/ Exterior Walls: Gutters & Downspouts: Storm / Screens: BRICK, ROCK/GD GALV IRON/ YES/ Heating System: Cooling System: X Car Storage: None Garage Carport Driveway (Surface: CONCRETE ) Total # of Cars: G3A Livable area above grade contains: 6 Rooms, 3 Bedrooms, 2.5 Bath(s), and 2,106 Sq.Ft. of GLA Describe Additional Features and Improvements: THE SUBJECT PROPERTY HAS BEEN VERY WELL-MAINTAINED AND IS CONSIDERED TO BE IN OVERALL CONDITION FOR THE NEIGHBORHOOD AND MARKET AREA. NO REPAIRS ARE NECESSARY. THE SUBJECT PROPERTY CONFORMS TO THE NEIGHBORHOOD IN ALL ASPECTS AND POSSESSES A MARKETABLE ELEVATION AND FLOOR PLAN. Client: Hi-Rate Mortgages Client File No.: Appraiser File No.: Copyright 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. Form GPCSF_LT "WinTOTAL" appraisal software by a la mode, inc ALAMODE 10/2007

6 Functional Utility Heating / Cooling CENTRAL Energy Efficient Items THERMALS Garage / Carport G3A(TANDEM) Porch / Patio / Deck COV'D PATIO, FNC,SPRNKLR 1 FIREPLACE RESIDENTIAL APPRAISAL SUMMARY REPORT SALES COMPARISON APPROACH TO VALUE For the Sales Comparison Approach, the appraiser selects comparable sales that they consider the best matches to the subject in terms of physical characteristics, physical proximity, and time of sale. The appraiser then makes adjustments to the known sale price of each comparable sale to account for differences that are recognized by the market. For example, if the subject has a single bathroom but a comparable has 2, the comparable s sale price would be reduced by the attributable value given to the extra bathroom based on the market s reaction. Likewise, if a comparable sale has a smaller square footage than the subject, its sale price would be adjusted upward in the same manner. By weighting and reconciling these adjusted sales prices together, an opinion of value for the subject can be determined. FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address 2629 SE 7TH ST 1000 LANIE LN 2617 SE 9TH CIR MOORE, OK MOORE MOORE MOORE Proximity to Subject 0.06 miles NW 0.10 miles S 0.10 miles SW Sale Price $ 193,500 $ 199,000 $ 198,500 $ 184,000 Sale Price / GLA $ /Sq.Ft.$ /Sq.Ft. $ /Sq.Ft. $ /Sq.Ft. Data Source(s) INSPECTION MLS, MDC, COURTHOUSE MLS, MDC, COURTHOUSE MLS, MDC, COURTHOUSE ADJUSTMENT ITEMS DESCRIPTION DESCRIPTION +( ) $ Adjust. DESCRIPTION +( ) $ Adjust. DESCRIPTION +( ) $ Adjust. Sales or Financing Concessions Date of Sale / Time Rights Appraised 0 SLR POINTS 7/11/2008 Fee Simple 8,276+/- S.F. CONVENT'L 0 SLR POINTS 7/24/2008 CL FEE SIMPLE 10,454+/- S.F. VA 0 SLR POINTS 7/30/2008 CL FEE SIMPLE 8,276+/- S.F. CONVENT'L 0 SLR POINTS 12/28/2007 CL FEE SIMPLE 9,000+/- S.F. SIMILAR HOMES Design (Style) 1 STY BV/RV 1 STY BV 1 STY BV/RV 1 STY BF Quality of Construction Condition Above Grade 2 YEARS Total Bdrms Baths 3 YEARS Total Bdrms Baths 2 YEARS Total Bdrms Baths 1 YEAR Total Bdrms Baths Room Count , , ,000 Gross Living Area 2,106 Sq.Ft. 2,070 Sq.Ft. +1,620 1,859 Sq.Ft. +11,115 1,849 Sq.Ft. +11,565 CENTRAL THERMALS G3A COV'D PATIO, FNC,SPRNKLR 1 FIREPLACE FHA/VA Case No Page #5 of 15 CENTRAL THERMALS G3A(TANDEM) COV'D PATIO, FNC,SPRNKLR 1 FIREPLACE CENTRAL THERMALS G2A COV'D PATIO, NO SPRNKLR 1 FIREPLACE +2,500 +1,000 ADDITIONAL FEATURESSEE ADDENDA... EQUAL VALUE EQUAL VALUE EQUAL VALUE Net Adjustment (Total) + $ 2,620 + $ 12,115 + $ 16,065 Adjusted Sale Price Net 1.3 % Net 6.1 % Net 8.7 % of Comparables Gross 1.3 % $ 201,620 Gross 6.1 % $ 210,615 Gross 8.7 % $ 200,065 Comments on the Sales Comparison Approach: COMPARABLES WERE SELECTED AS THE MOST RECENT AND PERTINENT SALES RELATIVE TO THE SUBJECT PROPERTY CURRENTLY AVAILABLE. ALL ARE LOCATED IN THE SUBJECT NEIGHBORHOOD AND ARE SIMILAR TO THE SUBJECT IN TERMS OF QUALITY, FUNCTIONAL UTILITY, AND MARKET APPEAL. ALL ADJUSTMENTS WERE BASED ON THE CONTRIBUTORY MARKET VALUE OF EACH RELATIVE TO THE SUBJECT PROPERTY. COMPARABLE #3 CLOSED JUST MORE THAN SIX MONTHS AGO BUT IS CONSIDERED RELIABLE GIVEN THE STABILITY OF VALUES IN THE SUBJECT MARKET DURING THE PAST SEVERAL YEARS. THIS STABILITY IS WELL-SUPPORTED BY COMPARABLE #3'S PREVIOUS SALE AND BY COMPARABLES #1 AND #2, BOTH OF WHICH CLOSED WITHIN THE PAST WEEK. ALL COMPARABLES INDICATE A Appraiser's Indicated Value by the Sales Comparison Approach: $ 202,000 Client: Hi-Rate Mortgages Client File No.: Appraiser File No.: Copyright 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. Form GPCSF_LT "WinTOTAL" appraisal software by a la mode, inc ALAMODE 10/2007

7 RESIDENTIAL APPRAISAL SUMMARY REPORT RECONCILIATION FHA/VA Case No Page #6 of 15 Final Reconciliation of the Approaches to Value: DIRECT SALES COMPARISON ANALYSIS IS CONSIDERED TO BE THE MOST RELIABLE INDICATOR OF THE SUBJECT'S MARKET VALUE AND IS GIVEN FULL CONSIDERATION. COST APPROACH IS NOT CONSIDERED APPLICABLE GIVEN SUBJECTIVITY WITH RESPECT TO ESTIMATING DEPRECIATION. INCOME APPROACH IS OMITTED AS THE NEIGHBORHOOD This appraisal is made ''as is''; subject to completion per plans and specifications on the basis of a Hypothetical Condition that the improvements have been completed; subject to the following repairs or alterations on the basis of a Hypothetical Condition that the repairs or alterations have been completed; subject to the following required inspection(s) based on the Extraordinary Assumption that the following condition or deficiency does not require alteration or repair: VALUE IS ESTIMATED FOR THE SUBJECT IN ITS PRESENT CONDITION. NO REPAIRS ARE REQUIRED. This report is also subject to other Hypothetical Conditions or Extraordinary Assumptions as specified elsewhere in this report. ATTACHMENTS A true and complete copy of this report contains pages, including all exhibits which are considered an integral part of the report. This appraisal report may not be properly understood without reference to the information contained in the complete report. Attached Exhibits: Scope of Work Limiting Conditions Certifications Narrative Addendum Photograph Addenda Sketch Addendum Map Addenda Flood Addendum Additional Sales Cost Addendum Manufactured House Addendum Hypothetical Conditions Extraordinary Assumptions OPINION OF VALUE This Opinion of Value may be subject to other Hypothetical Conditions and / or Extraordinary Assumptions, if so indicated above. Based on the degree of inspection of the subject property as indicated below; the defined Scope of Work for this appraisal assignment; the attached Statement of Assumptions and Limiting Conditions; and the attached Appraiser s Certifications, my (our) Current Opinion of the Market Value (or value range), as defined elsewhere in this report, of the real property that is the subject of this report is: $ 202,000, as of: JULY 30, 2008, which is both the Inspection Date and the Effective Date of this appraisal. SIGNATURES APPRAISER SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable) Appraiser Name: Joel Baker Company: Phone: (800) Fax: (405) joel@vcappraisals.com Date of Report (Signature): License or Certification #: State: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: JULY 30, 2008 Supervisory or Co-Appraiser Name: Company: Phone: Fax: Date of Report (Signature): License or Certification #: State: Designation: Expiration Date of License or Certification: Inspection of Subject: Interior & Exterior Exterior Only None Date of Inspection: Client: Hi-Rate Mortgages Client File No.: Appraiser File No.: Copyright 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. Form GPCSF_LT "WinTOTAL" appraisal software by a la mode, inc ALAMODE 10/2007

8 Functional Utility Heating / Cooling CENTRAL Energy Efficient Items THERMALS Garage / Carport G3A(TANDEM) Porch / Patio / Deck COV'D PATIO, FNC,SPRNKLR 1 FIREPLACE ADDITIONAL COMPARABLE SALES SALES COMPARISON APPROACH TO VALUE FEATURE SUBJECT COMPARABLE SALE # 4 COMPARABLE SALE # 5 COMPARABLE SALE # 6 Address 2629 SE 7TH ST 1000 LANIE LN 2617 SE 9TH CIR MOORE, OK MOORE Proximity to Subject 0.06 miles NW 0.10 miles S 0.10 miles SW Sale Price $ 193,500 $ 199,000 $ 198,500 $ 184,000 Sale Price / GLA $ /Sq.Ft.$ /Sq.Ft. $ /Sq.Ft. $ /Sq.Ft. Data Source(s) INSPECTION MLS, MDC, COURTHOUSE MLS, MDC, COURTHOUSE MLS, MDC, COURTHOUSE ADJUSTMENT ITEMS DESCRIPTION DESCRIPTION +( ) $ Adjust. DESCRIPTION +( ) $ Adjust. DESCRIPTION +( ) $ Adjust. Sales or Financing Concessions Date of Sale / Time Rights Appraised 0 SLR POINTS 7/11/2008 Fee Simple 8,276+/- S.F. CONVENT'L 0 SLR POINTS 6/25/2008 CL FEE SIMPLE 10,454+/- S.F. 8,276+/- S.F. 9,000+/- S.F. SIMILAR HOMES Design (Style) 1 STY BV/RV 1 STY BV Quality of Construction Condition Above Grade 2 YEARS Total Bdrms Baths 3 YEARS Total Bdrms Baths -3,292 2 YEARS Total Bdrms Baths 1 YEAR Total Bdrms Baths Room Count Gross Living Area 2,106 Sq.Ft. 2,070 Sq.Ft. -5,535 1,859 Sq.Ft. 1,849 Sq.Ft. CENTRAL THERMALS G3A COV'D PATIO, FNC,SPRNKLR 1 FIREPLACE FHA/VA Case No Page #7 of 15 ADDITIONAL FEATURESSEE ADDENDA... EQUAL VALUE Net Adjustment (Total) + $ -8,827 + $ + $ Adjusted Sale Price of Comparables Net Gross 4.4 % 4.4 % $ 190,173 Net Gross % % $ 198,500 Net Gross % % $ 184,000 Comments: Client: Hi-Rate Mortgages Client File No.: Appraiser File No.: Copyright 2007 by a la mode, inc. This form may be reproduced unmodified without written permission, however, a la mode, inc. must be acknowledged and credited. Form GPCSF_LT.(AC) "WinTOTAL" appraisal software by a la mode, inc ALAMODE 10/2007

9 FHA/VA Case No Page #8 of 15 Supplemental Addendum File No AMANDA R PACKER / THOMAS M ROODE Borrower/Client Property Address City MOORE County CLEVELAND State OK Zip Code Lender Hi-Rate Mortgages URAR : Neighborhood Market Factors THE SUBJECT PROPERTY IS LOCATED IN AN ESTABLISHED YET STILL DEVELOPING NEIGHBORHOOD OF SOUTHEAST MOORE SITUATED SOUTH OF SE 4TH STREET AND EAST OF BRYANT AVENUE. THE NEIGHBORHOOD CONSISTS OF MEDIUM SIZED MASONRY VENEER HOMES OF AVERAGE TO QUALITY CONSTRUCTION SITUATED ON NORMAL SIZED CITY LOTS. THE NEIGHBORHOOD POSSESSES A MOSTLY OPEN AND LEVEL TOPOGRAPHY WITH TYPICAL RESIDENTIAL VIEW AND NOISE LEVELS RELATIVE TO COMPETING NEIGHBORHOODS IN THE MARKET AREA. HOMES IN THE NEIGHBORHOOD APPEAR TO BE WELL-MAINTAINED. THE NEIGHBORHOOD IS SERVICED BY THE MOORE PUBLIC SCHOOL DISTRICT. NO ADVERSE NEIGHBORHOOD FACTORS WERE OBSERVED. URAR : Neighborhood - Market Conditions FINANCING IN THE SUBJECT NEIGHBORHOOD IS PRIMARILY A BLEND OF FHA/VA AND CONVENTIONAL. SELLER PARTICIPATION IS GENERALLY MINIMAL AND RARELY AFFECTS SALE PRICE. CURRENT MARKET INTEREST RATES ARE 6.0%-7.0% WITH 0-4 DISCOUNT POINTS REQUIRED. PROPERTY VALUES HAVE REFLECTED STABILITY TO MODERATE INCREASES WITH THIS TREND FORECASTED TO CONTINUE INTO THE IMMEDIATE FUTURE. MARKETING TIME IS GENERALLY 3 TO 6 MONTHS, OFTEN LESS, FOR HOMES WHICH ARE PROPERLY PRICED AND MARKETED. GP Consumer Short Form : Improvements - Additional Features COVERED PATIO; COVERD PORCH; SRPINKLER SYSTEM; SECURITY SYSTEM; CROWN MOLDINGS IN ENTRY WAY, HALL WAY, LIVING ROOM, KITCHEN, AND BREAKFAST; RAISED PANEL DOORS; RECESSED CANN DOWN LIGHTS; CERAMIC TILE VANITY TOP IN UTILITY; CERAMIC TILE SURROND FIREPLACE WITH FLUSH HEARTH IN LIVING ROOM; PEDISTAL SINK IN 1/2 BATH; DESIGNER PLUMBER FIXTURES THROUGHOUT; GRANITE KTICHEN COUNTERTOPS WITH CERAMIC TILE BACKSPLASH; SNACK BAR IN KITCHEN AND BREAKFAST; WHIRLPOOL TUB AND SEPERATE SHOWER IN MASTER BATH; 10' CEILINGS IN MASTER BEDROOM AND MASTER BATH; LIGHTED NICHE DISPLAY IN FOYER; OCTAGONAL VAULT WITH CROWNS IN STUDY; BEVELED FRENCH GLASS DOORS TO STUDY; BULLNOSED CORNERS THROUGHOUT; CERAMIC TILE AND CULTURED MARBLE COUNTER TOPS IN ALL BATHS. GP Consumer Short Form : Sale/Transfer/Listing History of Subject - Analysis COURTHOUSE RECORDS INDICATE THE SUBJECT PROPERTY SOLD AS A NEW HOME AS SHOWN ABOVE. COMPARABLE #3 SOLD PREVIOUSLY AND ITS BUYER WAS RELOCATED OUT OF STATE 6 MONTHS AFTER MOVING IN. COURTHOUSE RECORDS INDICATE NO OTHER PREVIOUS TRANSACTIONS INVOLVING THE SUBJECT PROPERTY DURING THE PAST 36 MONTHS OR THE COMPARABLES UTILIZED DURING THE 12 MONTHS PREVIOUS TO THEIR MOST RECENT SALES. GP Consumer Short Form : Sales Comparison Approach - Comments on Sales Comparison Approach COMPARABLES WERE SELECTED AS THE MOST RECENT AND PERTINENT SALES RELATIVE TO THE SUBJECT PROPERTY CURRENTLY AVAILABLE. ALL ARE LOCATED IN THE SUBJECT NEIGHBORHOOD AND ARE SIMILAR TO THE SUBJECT IN TERMS OF QUALITY, FUNCTIONAL UTILITY, AND MARKET APPEAL. ALL ADJUSTMENTS WERE BASED ON THE CONTRIBUTORY MARKET VALUE OF EACH RELATIVE TO THE SUBJECT PROPERTY. COMPARABLE #3 CLOSED JUST MORE THAN SIX MONTHS AGO BUT IS CONSIDERED RELIABLE GIVEN THE STABILITY OF VALUES IN THE SUBJECT MARKET DURING THE PAST SEVERAL YEARS. THIS STABILITY IS WELL-SUPPORTED BY COMPARABLE #3'S PREVIOUS SALE AND BY COMPARABLES #1 AND #2, BOTH OF WHICH CLOSED WITHIN THE PAST WEEK. ALL COMPARABLES INDICATE A SIMILAR RANGE OF VALUE AND WERE GIVEN CONSIDERATION IN THE ESTIMATION OF THE SUBJECT'S MARKET VALUE VIA THE DIRECT SALES COMPARISON ANALYSIS.

10 Building Sketch FHA/VA Case No Page #9 of 15 Borrower/Client AMANDA R PACKER / THOMAS M ROODE Property Address City MOORE County CLEVELAND State OK Zip Code Lender Hi-Rate Mortgages 33.20' COV. PATIO 11.35' 16.90' MASTER BEDROOM LIVING ROOM BREAKFAST AREA BEDROOM KITCHEN AUSTRAILIAN CLOS MASTER BATH 48.15' BATH BEDROOM 16.05' FOYER ENTRY STUDY 4.30' 11.90' 4.05' 8.85' 21.00' 2.60' 2.70' 1/2 BATH UTILITY 15.75' GARAGE 13.45' 39.80' 72.65' 20.90' Sketch by Apex IV Comments: AREA CALCULATIONS SUMMARY Code Description Net Size Net Totals GLA1 FIRST FLOOR LESS GARAGE LIVING AREA BREAKDOWN Breakdown Subtotals FIRST FLOOR x x x x x LESS GARAGE x x x Net LIVABLE Area (Rounded) Items (Rounded) 2106 Form SKT_LT.BldSkI "WinTOTAL" appraisal software by a la mode, inc ALAMODE

11 Flood Map FHA/VA Case No Page #10 of 15 Borrower/Client AMANDA R PACKER / THOMAS M ROODE Property Address City MOORE County CLEVELAND State OK Zip Code Lender Hi-Rate Mortgages Form MAP_LT.FLOOD "WinTOTAL" appraisal software by a la mode, inc ALAMODE

12 Plat Map FHA/VA Case No Page #11 of 15 Form SCNLTR "WinTOTAL" appraisal software by a la mode, inc ALAMODE

13 Map FHA/VA Case No Page #12 of 15 Borrower/Client AMANDA R PACKER / THOMAS M ROODE Property Address City MOORE County CLEVELAND State OK Zip Code Lender Hi-Rate Mortgages Form MAP_LT.LOC "WinTOTAL" appraisal software by a la mode, inc ALAMODE

14 Subject Photo Page FHA/VA Case No Page #13 of 15 Borrower/Client AMANDA R PACKER / THOMAS M ROODE Property Address City MOORE County CLEVELAND State OK Zip Code Lender Hi-Rate Mortgages Subject Front Sales Price 193,500 Gross Living Area 2,106 Total Rooms 6 Total Bedrooms 3 Total Bathrooms 2.5 SIMILAR HOMES 8,276+/- S.F. Quality 2 YEARS Subject Rear Subject Street Form PICPIX.SR "WinTOTAL" appraisal software by a la mode, inc ALAMODE

15 Comparable Photo Page FHA/VA Case No Page #14 of 15 Borrower/Client AMANDA R PACKER / THOMAS M ROODE Property Address City MOORE County CLEVELAND State OK Zip Code Lender Hi-Rate Mortgages Comparable SE 7TH ST Prox. to Subject 0.06 miles NW Sales Price 199,000 Gross Living Area 2,070 Total Rooms 7 Total Bedrooms 3 Total Bathrooms ,454+/- S.F. Quality 3 YEARS Comparable LANIE LN Prox. to Subject 0.10 miles S Sales Price 198,500 Gross Living Area 1,859 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2.0 8,276+/- S.F. Quality 2 YEARS Comparable SE 9TH CIR Prox. to Subject 0.10 miles SW Sales Price 184,000 Gross Living Area 1,849 Total Rooms 7 Total Bedrooms 3 Total Bathrooms 2.0 9,000+/- S.F. Quality 1 YEAR Form PICPIX.CR "WinTOTAL" appraisal software by a la mode, inc ALAMODE

16 Comparable Photo Page FHA/VA Case No Page #15 of 15 Borrower/Client AMANDA R PACKER / THOMAS M ROODE Property Address City MOORE County CLEVELAND State OK Zip Code Lender Hi-Rate Mortgages Comparable LANIE LN Prox. to Subject 0.19 miles S Sales Price 227,500 Gross Living Area 2,229 Total Rooms 8 Total Bedrooms 3 Total Bathrooms 2.5 8,125+/- S.F. Quality NEW Prox. to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Quality Comparable 5 Prox. to Subject Sales Price Gross Living Area Total Rooms Total Bedrooms Total Bathrooms Quality Comparable 6 Form PICPIX.CR "WinTOTAL" appraisal software by a la mode, inc ALAMODE