Cynthia J. Turner

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UNITED STATES BANKRUPTCY COURT
FOR THE NORTHERN DISTRICT OF CALIFORNIA
In re
CYNTHIA J. TURNER,
aka CYNTHIA TURNER HALL,
Debtor.
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Case No. 10-33520 TEC
Chapter 11
MEMORANDUM RE VALUATION OF 917 N. IDAHO STREET
On March 29, 2011, the court held a hearing to value the lien
of Bank of America, National Association successor by merger to
LaSalle Bank NA as trustee for WaMu Mortgage Pass-Through
Certificates Series2006-AR11 Trust (Creditor) on Debtor’s real
property at 917 N. Idaho Street, San Mateo, California (the
Property). 	James F. Beiden appeared for Debtor. 	Christopher M.
McDermott appeared for Creditor. 	Upon due consideration, and for
the reasons set forth below, I determine the value of the Property
to be $850,000 as of the date of hearing. 1
1 Each party’s appraisal valued the Property as of a date
close to the hearing date.
MEMORANDUM RE VALUATION OF
917 N. IDAHO STREET
-1-
Signed and Filed: April 05, 2011
________________________________________
THOMAS E. CARLSON
U.S. Bankruptcy Judge
________________________________________
Entered on Docket
April 07, 2011
GLORIA L. FRANKLIN, CLERK
U.S BANKRUPTCY COURT
NORTHERN DISTRICT OF CALIFORNIA
Case: 10-33520 Doc# 88 Filed: 04/05/11 Entered: 04/07/11 10:17:33 Page 1 of 4

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I determine value from the testimony of the appraisers, the
comparable sales they utilized, and adjustments to those comparable
sales.
In determining the value indicated above, I make the following
observations about the comparable sales the appraisers used and the
adjustments proposed by each appraiser.
The adjusted price shown for Debtor’s comparable sale #1 needs
to be adjusted upward substantially, because the Debtor’s appraiser
made too small an adjustment for the smaller size and smaller
number of rooms in this comparable.
The adjusted price shown for Debtor’s comparable sale #2 needs
to be adjusted upward substantially, because the Debtor’s appraiser
made too small an adjustment for the smaller size and smaller
number of rooms in this comparable.
I attach little or no value to Debtor’s comparable sale #3,
because that property is so much smaller than the subject property.
The adjusted price shown for Debtor’s comparable sale #4 needs
to be adjusted upward substantially, because the Debtor’s appraiser
made too small an adjustment for: (a) the smaller size and smaller
number of rooms in this comparable; (b) the inferior quality of the
remodeling in this comparable; and (c) the fact that the property
was sold in a short sale that provided no money to the seller.
I attach little or no value to Creditor’s comparable sales #1
and #2, because those properties are located in a different city
that carries a status different from the city in which the subject
property is located.
The adjusted price shown for Creditor’s comparable sale #3
needs to be adjusted downward, because the Creditor’s appraiser
MEMORANDUM RE VALUATION OF
917 N. IDAHO STREET
-2-
Case: 10-33520 Doc# 88 Filed: 04/05/11 Entered: 04/07/11 10:17:33 Page 2 of 4

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made too large a total adjustment for the smaller square footage,
smaller number of rooms, and different character of the garage and
porch of this property, and because this property is of sufficient
distance from the subject property that it cannot be relied upon to
show a value far in excess of that shown by other comparable sales.
The adjusted price shown for Creditor’s comparable sale #4
needs to be adjusted downward, because the sale was sufficiently
remote in time that it cannot be relied upon to show a value far
in excess of that shown by other comparable sales.
The adjusted price shown for Creditor’s comparable sale #5
needs to be adjusted downward, because it counts twice the inferior
quality of remodeling of this property.
I attach no value to creditor’s comparable sale #6, because it
represents a listing price, not a sale price.
**END OF MEMORANDUM**
MEMORANDUM RE VALUATION OF
917 N. IDAHO STREET
-3-
Case: 10-33520 Doc# 88 Filed: 04/05/11 Entered: 04/07/11 10:17:33 Page 3 of 4

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Court Service List
Cynthia J. Turner
917 N. Idaho Street
San Mateo, CA 94401
Case: 10-33520 Doc# 88 Filed: 04/05/11 Entered: 04/07/11 10:17:33 Page 4 of 4