11/09/2011Clarus MarketMetrics®Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

Fennwood Links Subd, Zachary, LA 70791

William CobbAccurate Valuations Group

Market Dynamics

Prepared For

1 of 19

Q3 2011256,000

Q3 2008215,000

%+19%

Change41,000

Q3 2008 vs. Q3 2011: The median sold price is up 19%Median Sold Price by Quarter

Accurate Valuations Group

Q3 2008 vs. Q3 2011

William Cobb

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

2 of 19

Median Sold Price by QuarterQ3 2008 vs. Q3 2011: The median sold price is up 19%

Accurate Valuations GroupWilliam Cobb

Time Period Median Price # Units Average DOMQ3 2011 256,000 1 37Q2 2011 216,450 2 106Q1 2011 0Q4 2010 0Q3 2010 250,000 1 26Q2 2010 245,500 2 153Q1 2010 169,900 1 17Q4 2009 237,000 1 170Q3 2009 235,000 4 92Q2 2009 252,500 3 96Q1 2009 0Q4 2008 0Q3 2008 215,000 1 85

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

3 of 19

Q3 08 vs. Q3 11: The median price of for sale properties is up 13% and the median price of sold properties is up 19%

Accurate Valuations Group

Q3 2008 vs. Q3 2011

214,950 +13%

William Cobb

243,900Q3 2011

Median For Sale vs. Median Sold

ChangeQ3 2008 %28,950

Q3 2008 Q3 2011 %215,000 +19%

Q3 2008 vs. Q3 2011

256,000Change41,000

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

4 of 19

Median For Sale vs. Median SoldQ3 08 vs. Q3 11: The median price of for sale properties is up 13% and the median price of sold properties is up 19%

Accurate Valuations GroupWilliam Cobb

Time Period For SaleMedian SoldMedianFor Sale # Properties # PropertiesSold Price

Difference

Q3 2011 8 1243,900 256,000 12,100Q2 2011 4 2243,200 216,450 -26,750Q1 2011 4 0239,200Q4 2010 5 0240,000Q3 2010 6 1244,950 250,000 5,050Q2 2010 5 2249,900 245,500 -4,400Q1 2010 3 1264,900 169,900 -95,000Q4 2009 4 1239,000 237,000 -2,000Q3 2009 5 4239,000 235,000 -4,000Q2 2009 7 3239,900 252,500 12,600Q1 2009 3 0247,000Q4 2008 1 0204,900Q3 2008 2 1214,950 215,000 50

Clarus MarketMetrics®Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

2 of 2 11/09/2011

5 of 19

Q3 20111

Q3 20081

%0%

Change0

Q3 2008 vs. Q3 2011: The number of Sold properties has not changedSold Properties by Quarter

Accurate Valuations Group

Q3 2008 vs. Q3 2011

William Cobb

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

6 of 19

Sold Properties by QuarterQ3 2008 vs. Q3 2011: The number of Sold properties has not changed

Accurate Valuations GroupWilliam Cobb

Time Period # Properties Median Price Average DOMQ3 2011 256,0001 37Q2 2011 216,4502 106Q1 2011 0Q4 2010 0Q3 2010 250,0001 26Q2 2010 245,5002 153Q1 2010 169,9001 17Q4 2009 237,0001 170Q3 2009 235,0004 92Q2 2009 252,5003 96Q1 2009 0Q4 2008 0Q3 2008 215,0001 85

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

7 of 19

Q3 20112

Q3 20081

%+100%

Change1

Q3 2008 vs. Q3 2011: The number of Under Contract properties is up 100%Under Contract Properties by Quarter

Accurate Valuations Group

Q3 2008 vs. Q3 2011

William Cobb

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

8 of 19

Under Contract Properties by QuarterQ3 2008 vs. Q3 2011: The number of Under Contract properties is up 100%

Accurate Valuations GroupWilliam Cobb

Time Period # Properties Median Price Average DOMQ3 2011 259,5002 32Q2 2011 238,5001 81Q1 2011 0Q4 2010 196,9001 131Q3 2010 264,9001 26Q2 2010 251,9502 153Q1 2010 0Q4 2009 204,4502 94Q3 2009 237,4502 66Q2 2009 252,2504 86Q1 2009 204,9001 179Q4 2008 0Q3 2008 225,0001 85

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

9 of 19

Q3 20115

Q3 20081

%+400%

Change4

Q3 2008 vs. Q3 2011: The number of New properties is up 400%New Properties by Quarter

Accurate Valuations Group

Q3 2008 vs. Q3 2011

William Cobb

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

10 of 19

New Properties by QuarterQ3 2008 vs. Q3 2011: The number of New properties is up 400%

Accurate Valuations GroupWilliam Cobb

Time Period # Properties Median PriceQ3 2011 239,9005Q2 2011 227,4502Q1 2011 239,9003Q4 2010 0Q3 2010 224,9003Q2 2010 249,9003Q1 2010 264,9002Q4 2009 169,9001Q3 2009 259,4502Q2 2009 239,0005Q1 2009 281,4502Q4 2008 0Q3 2008 204,9001

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

11 of 19

Q3 20118

Q3 20082

%+300%

Change6

Q3 2008 vs. Q3 2011: The number of For Sale properties is up 300%For Sale Properties by Quarter

Accurate Valuations Group

Q3 2008 vs. Q3 2011

William Cobb

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

12 of 19

For Sale Properties by QuarterQ3 2008 vs. Q3 2011: The number of For Sale properties is up 300%

Accurate Valuations GroupWilliam Cobb

Time Period # Properties Median Price Average DOMQ3 2011 243,9008 86Q2 2011 243,2004 80Q1 2011 239,2004 57Q4 2010 240,0005 128Q3 2010 244,9506 64Q2 2010 249,9005 71Q1 2010 264,9003 118Q4 2009 239,0004 120Q3 2009 239,0005 81Q2 2009 239,9007 72Q1 2009 247,0003 113Q4 2008 204,9001 103Q3 2008 214,9502 48

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

13 of 19

Q3 20111

Q3 20080

%Change1

Q3 2008 vs. Q3 2011: The percent change calculation is N/AExpired Properties by Quarter

Accurate Valuations Group

Q3 2008 vs. Q3 2011

William Cobb

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

14 of 19

Expired Properties by QuarterQ3 2008 vs. Q3 2011: The percent change calculation is N/A

Accurate Valuations GroupWilliam Cobb

Time Period Median Price# Properties Average DOMQ3 2011 265,0001 142Q2 2011 0Q1 2011 232,4002 96Q4 2010 249,9003 136Q3 2010 0Q2 2010 0Q1 2010 264,9001 66Q4 2009 279,9001 113Q3 2009 0Q2 2009 0Q1 2009 0Q4 2008 0Q3 2008 0

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

15 of 19

Q3 2008 vs. Q3 2011: The number of for sale properties is up 300% and the number of sold properties has not changed

Accurate Valuations Group

Q3 2008 vs. Q3 2011

2 +300%

William Cobb

8Q3 2011

Supply & Demand by Quarter

ChangeQ3 2008 %6

Q3 2008 Q3 2011 %1 0%

Q3 2008 vs. Q3 2011

1Change

0

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

16 of 19

Supply & Demand by QuarterQ3 2008 vs. Q3 2011: The number of for sale properties is up 300% and the number of sold properties has not changed

William Cobb Accurate Valuations Group

Time Period For SaleFor Sale SoldSold# Properties Average DOM Average DOM# Properties

Q3 2011 86 378 1Q2 2011 80 1064 2Q1 2011 574 0Q4 2010 1285 0Q3 2010 64 266 1Q2 2010 71 1535 2Q1 2010 118 173 1Q4 2009 120 1704 1Q3 2009 81 925 4Q2 2009 72 967 3Q1 2009 1133 0Q4 2008 1031 0Q3 2008 48 852 1

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

17 of 19

Q3 201132

Q3 200885

%-62%

Change-53

Q3 2008 vs. Q3 2011: The average days on market is down 62%The Average Days on Market by Quarter

Accurate Valuations Group

Q3 2008 vs. Q3 2011

William Cobb

Clarus MarketMetrics® 1 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

AllBathrooms:MLS: AllAllSq Ft:

Fennwood LinksResidential: (Detached Single Family)Period: All All

Property Types:Subdivision:

AllConstruction Type:Price: Lot Size:Bedrooms:3 years (quarterly)GBRAR

18 of 19

The Average Days on Market by QuarterQ3 2008 vs. Q3 2011: The average days on market is down 62%

Accurate Valuations GroupWilliam Cobb

Time Period # UC UnitsAverage DOMQ3 2011 232Q2 2011 181Q1 2011 0Q4 2010 1131Q3 2010 126Q2 2010 2153Q1 2010 0Q4 2009 294Q3 2009 266Q2 2009 486Q1 2009 1179Q4 2008 0Q3 2008 185

Clarus MarketMetrics® 2 of 2 11/09/2011Information not guaranteed. © 2009-2010 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

19 of 19