Home in FL:
Was originally appraised at $2.6 million pre-construction pending completion.
Currently in foreclosure. Multiple Liens. 97% complete.
Current broker suggested-opinion of value: $1.8 million.
Loss of value: $800,000 – $38,000 (3% of uncompleted hard cost items) = $762,000
TOTAL LOSS (assuming BPO value is accurate): $762,000 [29.3%]