127 Birdie Drive Suffolk Price Analysis by Shari Rocks

COMPARATIVE MARKET ANALYSIS

503 Marlin Drive Newport News 23602 PREPARED FOR

Sean Camp April 2013

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

WHAT IS A CMA?

INTRO

Simply put, a Comparative Market Analysis, or CMA, is a report used to determine the fair market value of a home. Based on local market data, a CMA takes into account recent and pending sales as well as current listings. From this information, we can establish an appropriate listing price for your house. This price may need to be adjusted as the market changes to ensure that your house remains competitively priced. The fair market value of a home is determined by the dollar amount a knowledgeable buyer and seller would agree on within a reasonable amount of time (usually within 90 days). The fair market value is only an estimate. It also takes into consideration such things as location and home condition. Price adjustments are based on fluctuations in the market, interest, and motivation. This CMA report includes information on current local listings and other recently sold (or pending sales) in your neighborhood. Although no house is exactly like yours, these are the most similar properties and are often the ones that appraisers use to determine home values. Also factored in are things such as; square footage, location, amenities, property condition, and existing financing. All included data has come from the most reliable sources: local real estate firms, title companies, and the Multiple Listing Service (MLS).

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

CONTACT ME

INTRO

Shari Rocks Mobile 757.986.9125 Web www.sharirocks.com Email me@sharirocks.com

check me out online!

What's up with the bar code? This QR code makes it easy for you to access information on your smart phone. 1. Make sure your phone can scan a QR code with its camera. If you don't already have one, you can do a Google search for the model of your phone along with the term "QR reader". 2. Now use that app to scan the QR code above. NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

SHORT SALES AND FORECLOSURES

INTRO

A "short sale" is a sale of real estate in which the sale proceeds fall short of the balance owed on the property's loan. It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the current debtor. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which then involves hefty fees for the bank and poorer credit report outcomes for the borrower. A foreclosure is the legal process by which an owner's right to the property is terminated, usually due to default. This typically involves a forced sale of the property at public auction, with the proceeds being applied to the mortgage debt. Foreclosures or short sales are indeed going to affect the market value of neighboring homes in one way or another. Whenever a house sells in a neighborhood, the amount at which the house is sold is noted and has an effect on general housing prices within the same locality. If your neighboring house is facing short sale or foreclosure, then the house sells for much less than it would have if it hadn't gone into foreclosure. Additionally, if that foreclosed house is similar to yours in size and attributes then this can depreciate the market value of your house. The same is true when people sell their homes for less than the homes are actually worth because they just want to get rid of mortgage loan. Every real estate transaction in your neighborhood has the potential to bring up or bring down the market value of your home. Every real estate market is different. Your real estate professional's main goal is to get you the best price in any market.

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

THE VALUE OF YOUR HOME

INTRO

The value of a home is based on much more than just the house itself. There are many factors that need to be considered to determine that value:

Location • Location is often the number one factor that determines the home value.

Price • It is crucial to set a realistic price from the beginning. The price will affect how long a home stays on the market. This CMA will help establish an appropriate price point. The asking price may need to be adjusted once the house has been on the market for a time.

Competition • Buyers will compare the price of your home to similar properties available in the area as well as those that have recently sold.

Condition • First impressions are important. Buying a home is both emotional and subjective, therefore, make sure that your home looks good both inside and out.

Current Market • The real estate market is in a constant state of flux. It cannot be manipulated and is difficult to forecast. • Conditions such as foreclosures and short sales significantly impact home values. • Marketing plans must be flexible.

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

SUMMARY OF COMPARABLE PROPERTIES

Subject

Beds

127 Birdie Drive

Bath 3

INTRO

SqFt 2906

Sold Listings Address

Beds

Bath

SqFt

List Price

Sold Price

Sold Date

120 Highfield Road

2.1

2851

280,000

275,000

3/22/13

105 Tee Box Lane

2.1

3146

379,900

2/23/13

2621 River Watch Dr

2.1

2588

294,894

3/6/13

Pending Listings Address

Beds

Bath

SqFt

Org Price

List Price

List Date

1022 Meadows Reach

2403

257,000

12/28/12

2006 Barka Drive

2430

260,860

03/09/13

1036 Meadow Reach

2478

278,485

02/20/13

Active Listings Address

Beds

Bath

SqFt

Org Price

List Price

List Date

109 Carriage House Dr

2.1

3400

374,900

01/14/13

4001 Meadows Court

3236

374,500

374,000

06/20/12

105 Sandtrap Court

2645

369,500

350,000

11/14/12

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

PROPERTY DETAILS

120 Highfield Road Suffolk 23434

$275,000

LISTING INFORMATION MLS#1245396

Beds 4

Sq Ft 2,851

Status Closed

Baths 2.1 Year Built 2003

Sold Date 03/22/13 DOM 63

FEATURES Heating: natural gas Cooling: central air Water Heater: gas Foundation: slab Siding; brick, vinyl Floors: Ceramic, carpet, wood Fence: back fenced, wood fence Equipment: ceiling fan, gar door opener, jetted tub, security system, refrigerator, elec range, dishwasher, microwave, dryer hookup, washer hookup, cathedral ceiling, gas fireplace, window treatments, walk in closet, deck, attic, breakfast area, room over garage, foyer, first floor master bedroom, master bedroom with bath, 2 car attached garage, MO POA Fee; $32 monthly amenities: golf, ground maintenance, playgrounds, trash pickup

REMARKS THIS HOME SELLS ITSELF. LOCATED IN GOLF COMMUNITY. GREAT OPEN FLOOR PLAN WITH CATHEDRAL CEILINGS, NEW CARPET THROUGHOUT, BEAUTIFUL HARDWOOD FLOORS, ENERGY EFF. SS APPLIANCES, ENERGY EFF. WASHER & DRYER, 2 ZONE HVAC, UPDATED LIGHT FIXTURES & FENCED BACKYARD WITH DECK.

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

PROPERTY DETAILS

105 Tee Box Lane Suffolk 23434

$379,900

LISTING INFORMATION MLS#1239828

Beds 5

3,146

Status Closed

Baths 2.1 Year Built 2012

Sold Date 02/23/13 DOM 119

FEATURES Heating & Cooling: zoned natural gas Water heater: gas, Foundation: Crawl Floors: ceramic, wood, carpet Equipment: ceiling fan, gar door opener, jetted tub, disposal, dryer hookup, microwave, gas range, dishwasher, washer hookup, gas fireplace, pull down attic stairs, walk in closet, corner, deck, breakfast area, fin room over garage, master bedroom w/bath, office/study, pantry, porch, 2 car attached garage MO POA fee $22 monthly

REMARKS Golf lovers! Gorgeous must see all Brick home situated in Nansemond River Golf Club community. Stunning features include stone fireplace, Granite counter tops, Stainless steel appliances, maple hardwood flooring- family, study, dining, & hallways. Crown molding, built ins. Study / Office and more!

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

PROPERTY DETAILS

2621 River Watch Drive Suffolk 23434!

$294,894

LISTING INFORMATION MLS#1306890

Beds 4

Sq Ft 2588

Status Closed

Baths 2.1 Year Built 2013

Sold Date 3/06/13 DOM 9

FEATURES Heating: heat pump Central: cooling Water Heater: Electric Foundation: Slab Siding: brick, vinyl Floors; Carpet, wood, vinyl Appliances: disposal, dryer hookup, elec range, washer hookup, microwave, scuttle access, walk in closet, bar, patio, breakfast area, foyer, mater bedroom with bath, pantry, 2 car attached garage, MO POA fee: $49 monthly amenties: clubhouse, playgrounds, pool, other

REMARKS Move-in Ready! Dogwood-Expanded Model--includes large family room opening to gourmet kitchen w/42" cabinets, SS appliances, island, granite, library, formal DR, loft plus 4 BRs. Upgrades incl ceramic tile in baths & kitchen.Community offers pool, walking trails & neighborhood school.

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

PROPERTY DETAILS

ACTIVES Presented by: Shari Rocks Native American Group Realty

Some Properties for Your

Phone: 757-672-6732 Fax: 757-499-4482

105 SANDTRAP COURT - Suffolk VA Subdiv:

HILL POINT FARMS

LP $ 350,000

Bedrooms:

F./H. Baths: Apprx SqFt: Appx Yr Blt: Fence: Listed By:

3/0 Type: Detached Residential Active 2,645 Style: Contemp, Traditional 2004 Waterfrt: No / Not Waterfront Y Parking: 2 Car, Attached, Driveway Spc, Pool/Ext Garage, Feat: Multi Car No Pool - Cul-De-Sac, Dec Prudential Towne Realty

List# 1243065

IMMACULATE 4 BEDROOM/3 FULL BATH HOME IN CUL-DE-SAC. MOVE-IN READY. BEAUTIFUL CUSTOM BUILT DECK WITH GAZEBO FEEL, SCREEN PORCH, HARDWOOD FLOORS, GRANITE, 2 MASTER SUITES. CERAMIC FOYER, GAS FIREPLACE, WALK-IN CLOSETS. GOLF COUSE COMMUNITY. MINUTES FROM OBICI HOSPITAL, SHOPPING & INTERSTATES.

109 CARRIAGE HOUSE DRIVE - Suffolk VA Bedrooms:

F./H. Baths: 2 / 1 Apprx SqFt: 3,400

Subdiv:

HILL POINT FARMS

Type: Style:

Detached Residential Contemp, Transitional

LP $ 374,900 List# 1301766 Active

Appx Yr Blt: 2010 Waterfrt: Yes / Lake Fence: Y Parking: 2 Car, Attached, Garage, Oversized Pool/Ext Gar Feat: In Ground Pool - Cul-De-S Listed By: Realty Executives Top Producers WELCOME TO A TASTE OF PARADISE.QUALITY CUSTOM BUILT HOME.BAMBOO WOOD FLRS & STAIRCASE W/ROD IRON SPINDLES.4TH BR IS MBR SITTING AREA.WET BAR IN FAMILY RM.HOME IS OPEN TO ENTERTAINING.SUNRM/DECK FANTASTIC VIEW OF THE LAKE.SALT TREATED POOL.WAKE UP MORNINGS W/PANORAMIC VIEW OF LAKE. WALK-IN CLOSET RM.

4001 MEADOWS COURT - Suffolk VA Bedrooms: 5 F./H. Baths: 4 / 0 Apprx SqFt: 3,236

Subdiv: Type: Style:

HILLPOINT MEADOWS Detached Residential Transitional

LP $ 374,000 List# 1224167 Active

Appx Yr Blt: 2007 Waterfrt: No / Not Waterfront Fence: N Parking: 2 Car, Attached, Garage, Driveway Pool/Ext Spc Feat: No Pool - Deck Listed By: Long & Foster Real Estate, Inc.

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

PROPERTY DETAILS

PENDING

Presented by: Shari Rocks Native American Group Realty

Some Properties for Your

Phone: 757-672-6732 Fax: 757-499-4482

1022 MEADOWS REACH CIRCLE - Suffolk VA Bedrooms:

F./H. Baths: Apprx SqFt: Appx Yr Blt: Fence: Listed By:

3/0 Type: Detached Residential 2,430 Style: Transitional 2012 Waterfrt: No / Not Waterfront N Parking: Garage, Attached, 2 Car William E. Wood & Associates

Subdiv:

LP $ 257,000

HILL POINT FARMS

List# 1246846 Pending

Pool/Ext Feat: No Pool - Patio

MASTER MODEL #118-TO BE BUILT. WONDERFUL 5 BEDROOM 3BATH HOME FEATURING SEPARATE LIVING RM AND DINING RM. OPEN DESIGNED KIT WITH BREAKFAST BAR OVERLOOKS EAT-IN AREA AND FAMILY RM. FIRST FLOOR HAS 5TH BDRM OR OFFICE/STUDY. LOVELY SECOND FLOOR MASTER SUITE WITH LARGE WALK-IN CLOSET.

1036 MEADOWS REACH ARCH - Suffolk VA Bedrooms:

F./H. Baths: 3 / 0 Apprx SqFt: 2,478

Subdiv:

HILL POINT FARMS

Type: Style:

Detached Residential Transitional

Appx Yr Blt: 2013 Waterfrt: No / Not Waterfront Fence: N Parking: Garage, Attached, 2 Car Listed By: William E. Wood & Associates

LP $ 278,485 List# 1307597 Pending

Pool/Ext Feat: No Pool - Patio

MODEL #118 BEAUTIFUL 5 BEDROOM- 3 FULL BATHS HOME HAS SEPARATE LIVING ROOM AND DINING ROOM. OPEN KITCHEN AND FAMILY ROOM. BREAKFAST AREA OFF KITCHEN. FIRST FLOOR HAS 5TH BEDROOM OR STUDY. LARGE MASTER SUITE WITH SEPARATE GARDEN TUB AND SHOWER.

2006 BARKA DRIVE - Suffolk VA Bedrooms: 5 F./H. Baths: 3 / 0 Apprx SqFt: 2,430

Subdiv: Type: Style:

HILL POINT FARMS Detached Residential Transitional

LP $ 260,680 List# 1309808 Pending

Appx Yr Blt: 2013 Waterfrt: No / Not Waterfront Fence: N Parking: Garage, Attached, 2 Car, Driveway Pool/Ext Spc Feat: No Pool Listed By: William E. Wood & Associates JUST STARTING THE BUILDING PROCESS- HURRY QUICK GOING FAST! AMAZING 5 BDRM, 3 FULL BAT HOME. FEATURES FORMAL LIVINGROOM & DINING ROOM. KITCHEN & BREAKFAST AREA PLUS BAR OPEN TO FAMILY ROOM. 5TH BEDRM ON 1ST FLOOR OR OFFICE/STUDY. LRG MASTER SUITE, $1000 IN FREE UPGRADES.

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

COMPARABLE PROPERTY STATISTICS

ANALYSIS

Sold Listings

based on sales in the past 6 months

18 Sold

Beds

Bath

SqFt

DOM

High

3491

379,900

273

Low

1282

126,250

122,500

Average

2508

267,916

264,701

AVERAGE PRICE PER SQ FT $105.54 Average price per sq ft (homes within 15% +/- sft of subject) $109.02

Active Listings 17 Active

Beds

Bath

SqFt

High

4150

599,900

Low

1897

159,900

Average

2362

268,400

DOM

AVERAGE PRICE PER SQ FT $113.63

Pending Listings 12 Pending

Beds

Bath

SqFt

DOM

High

2478

290,808

Low

1830

245,000

Average

2274

268,618

AVERAGE PRICE PER SQ FT $118.13

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

SUGGESTED LIST PRICE

ANALYSIS

Analysis of the comparable properties suggest a sold price range of

$320,000-$349,900

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

WHY YOU NEED A REAL ESTATE PROFESSIONAL

INFO

Selling a home requires a great deal of information and resources, especially if you want to get top dollar sales. Hiring a real estate professional helps the entire process go smoothly and provides you with the most valuable resource you can have. As such, here are key areas where a real estate professional earns their commission:

Pricing When pricing your home, it is extremely important that it not be set too high or low of a price. Undervaluing or overpricing can slow down or impede the sale of a home. Real estate professionals have access to neighborhood information and pricing trends and they are experienced in the home selling process.

Marketing When you first list your home for sale, your agent has the skill and experience to recommend repairs and cosmetic work that will help enhance your home's appearance and marketability. Next, your agent will advertise your property. Most buyers go to the Internet first when searching for a home so that will be a big focus. A real estate professional will also provide exposure to other industry professionals and the public. It has been shown that many home sales come about as a result of previous relations with a client and client referrals. It is important that there is not an overexposure, too. This may cause buyers to see the property as distressed or to assume that the seller is desperate.

Security When selling your house, your agent will ensure that home showings are supervised. Buyers must go through your agent to schedule a showing, thus being prescreened. This gives you time to prepare your house and gives you a peace of mind knowing that buyers are chaperoned in your home.

Negotiations Your real estate agent acts as an objective middle-person. They are perceived as unbiased professionals, and buyers often feel more comfortable negotiating with them. Your agent will help with your initial agreement by writing a legally binding contract to have both parties sign. Then, they guide you through the processes of appraisals, financing and home inspections - all necessary to complete the sale of a home.

Monitoring, Renegotiating, Closing/Settling There are many steps involved between a sales agreement and the closing or settlement of a sale. An agent has many industry contacts who can be used every step of the way. Your agent will help you navigate through the steps and complete required paperwork. They ensure that as issues arise, problems get resolved and the intimidating amounts of paperwork get completed accurately

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

MOVING CHECKLIST

INFO

Several weeks before the move: • Clean out and sell/donate/discard items that you do not need or do not wish to move. • Request quotes from a few different moving companies. • Contact insurance companies to change address for coverage. • Contact Utility Companies to shut off existing service and to request service in your new home. • Medical/Dental: Have prescriptions on hand or transferred to new doctors; Get referrals for medical professionals in your new area; have copies of birth certificates, medical records, etc. • Arrange moving your pet(s) if necessary. • Obtain packing materials and begin packing. • Change your address with the post office, credit card companies, magazine subscriptions, friends and family, etc. • Cancel services such as newspaper delivery, lawn service, pest control, etc. • Use up perishable foods.

Moving Day • Have payment on hand for the movers. • Have cash/travelers checks on hand to cover expenses until you can get to a bank at your new destination. • Hand carry valuables and important documents yourself. • Once your house is empty - go through and double check closets, cabinets, etc to make sure you did not leave anything behind. • Have plans for pets and small children while the moving truck is being loaded. • Give the house a final clean up. • Leave your new contact information with the new residents so they can forward any mail that slips through the cracks. • Leave house keys with your real estate agent.

At your new address: • If you are moving to a new state, register your car within 5 days to avoid penalties; apply for a new driver's license. • Register children for school. • Find new doctors, dentists, etc. • Register to vote. • Begin unpacking. Take photos of any damaged items and save packing materials that involved broken items to help support claims filed with the moving company. • Relax and enjoy your new home!

NAGR, Native American Group Realty is licensed broker in Virginia and North Carolina

All information provided is deemed reliable but is not guaranteed and should be independently verified.