1^ST QUARTER – AVALON,NJ – 2008 STATISTICS:

RESIDENTIAL:          UNDER CONTRACT                    COMPARABLE SALES

JANUARY                                   4                                                          7

FEBRUARY                               12                                                        10

MARCH                                      10                                                         8

(26) (25)

                        ORIGINAL List Price    REDUCED List Price   SOLD Price  Days on Mkt

JANUARY              $ 1,996,429.                 $ 1,813,857.                $ 1,487,429.             312

FEBRUARY              2,060,356.                    1,735,500.                    1,586,650.            606

MARCH                    1,946,625.                    1,759,750.                    1,574,812.            311

1^ST QUARTER       $6,003,410.                  $5,309,107.                  $4,648,891.            1,229

AVERAGE              (2,001,137.)                 (1,769,702.)                  (1,549,630.)          (410)

- Difference between ORIGINAL List Price and SOLD Price = (23%)

- Difference between ORIGINAL List Price and REDUCED Price = (12%)

LOTS / LAND:             UNDER CONTRACT                    COMPARABLE SALES

JANUARY                                   0                                                            1

FEBRUARY                                0                                                            4

MARCH                                      0                                                             0

                                                     (0)                                                         (5)

COMMERCIAL:         UNDER CONTRACT                     COMPARABLE SALES

JANUARY                                     0                                                           0

FERBUARY                                  0                                                           0

MARCH                                        0                                                           0

(0) (0)

MULTI-FAMILY:       UNDER CONTRACT                     COMPARABLE SALES

JANUARY                                     0                                                            0

FEBRUARY                                  0                                                            1

MARCH                                         0                                                           0

                                                       (0)                                                         (1)

CONDO/

TOWNHOUSE:            UNDER CONTRACT                      COMPARABLE SALES

JANUARY                                       2                                                            0

FEBRUARY                                    5                                                            1

MARCH                                           2                                                            5

                                                          (9)                                                         (6)

                          ORIGINAL List Price     REDUCED List Price   SOLD Price   Days on Mkt

JANUARY                    -0-                                      -0-                                -0-                 -0-

FEBRUARY             $985,000.                       $850,000.                    $775,000.             461

MARCH                   1,480,200.                      1,296,600.                   1,162,900.            266

1^ST QUARTER        $2,465,200.                  $2,146,600.                   $1,937,900.             727               

AVERAGE                (821,733.)                     (715,534.)                      (645,967.)            (242)

- Difference between ORIGINAL List Price and SOLD Price = (21%)

- Difference between ORIGINAL List Price and REDUCED Price = (13%)

AVALON - COMPARISON – 1^ST QTR - 2007 VS. 1^ST QTR – 2008:

Residential: Average ORIGINIAL   Average REDUCED   Average SOLD   Average Days

                          List Price                        List Price                     Price                 on Market

1^st Qtr., 2007    $2,357,278.                $2,238,694.                  $2,057,911.                 174

- Difference between Original List Price and Sold Price = (13%)

- Difference between Original List Price and Reduced Price = (5%)

1^st Qtr., 2008    $2,001,137.                $1,769,702.                  $1,549,630.                 410

- Difference between Original List Price and Sold Price = (23%)

- Difference between Original List Price and Reduced Price = (12%)

- TOTAL RESIDENTIAL SALES 1^ST QTR. – AVALON – 2007 = 18

- TOTAL RESIDENTIAL SALES 1^ST QTR. – AVALON – 2008 = 25

Condo/

TownHouse: Average ORIGINAL    Average REDUCED    Average SOLD    Average Days

                               List Price                          List Price                  Price                on Market

1^st Qtr., 2007      $1,018,170.                      $939,576.                    $890,571.                    274

- Difference between Original List Price and Sold Price = (13%)

- Difference between Original List Price and Reduced Price = (8%)

-

1^st Qtr., 2008      $   821,733.                      $715,534.                    $645,967.                    242

- Difference between Original List Price and Sold Price = (21%)

- Difference between Original List Price and Reduced Price = (13%)

- TOTAL CONDO/TOWNHOUSE SALES 1^ST QTR. – AVALON – 2007 = 17

- TOTAL CONDO/TOWNHOUSE SALES 1^ST QTR. – AVALON – 2008 = 6