3^RD QUARTER – AVALON,NJ – 2009 STATISTICS:

RESIDENTIAL                        UNDER CONTRACT              COMPARABLE SALES

JULY                                                          6                                                 10

AUGUST                                                   12                                                8

SEPTEMBER                                           10                                                10

                                                                   (28)                                              (28)

              ORIGINAL List Price       REDUCED List Price       SOLD Price     Days on Mkt

JULY                  $ 1,943,800.                   $ 1,770,990.                   $ 1,596,300.         343

AUGUST               2,999,375.                     2,824,375.                      2,490,037.          354

SEPTEMBER       1,758,200.                     1,589,900.                      1,433,200.          286

3^RD QTR

AVERAGE         ($2,233,792.)               ($2,061,755.)                  ($1,839,846.)       (328)

- Difference between ORIGINAL List Price and SOLD Price = (18%)

- Difference between ORIGINAL and REDUCED Price = (8%)

LOTS/LAND:                              UNDER CONTRACT                   COMPARABLE SALES

JULY                                                             0                                                        0

AUGUST                                                       1                                                        0

SEPTEMBER                                               0                                                        1

COMMERCIAL:                         UNDER CONTRACT                   COMPARABLE SALES

JULY                                                              0                                                         1            

AUGUST                                                        0                                                         0

SEPTEMBER                                                0                                                         0

MULTI-FAMILY:                        UNDER CONTRACT                  COMPARABLE SALES

JULY                                                               0                                                         0

AUGUST                                                         0                                                         0

SEPTEMBER                                                 0                                                         0

CONDO/TOWNHOUSE:             UNDER CONTRACT               COMPARABLE SALES

JULY                                                                6                                                         7

AUGUST                                                          5                                                         6

SEPTEMBER                                                  4                                                         8

(15) (21)

                       ORIGINAL List Price     REDUCED List Price     SOLD Price    Days on Mkt

JULY                  $ 750,114.                         $ 650,043.                       $ 593,143.             351

AUGUST               814,817.                            699,667.                          680,000.             339

SEPTEMBER       874,500.                           756,250.                          718,437.              274

3^RD QTR.

AVERAGE        ($ 813,144.)                      ($ 701,987.)                      ($ 663,860.)        (321)

- Difference between ORIGINAL List Price and SOLD Price = (18%)

- Difference between ORIGINAL List Price and REDUCED Price = (14%)

2009 – AVALON, NJ – 1^STQTR – 2^NDQTR – 3^RDQTR:

RESIDENTIAL:

                Average Original        Average Reduced     Average Sold        Average Days on

                List Price                     List Price                   Price                      Market

1^ST QTR.    $  867,667.                  $  779,778.                  $ 722,222.                172

2^ND QTR      1,609,793.                  1,497,817.                   1,370,583.                277

3^RD QTR      2,233,792.                  2,061,755.                   1,839,846.                328

TOTAL RESIDENTIAL UNITS:     UNDER CONTRACT     COMPARABLE SALES

1^ST QTR                                                               11                                            4

2^ND QTR                                                              14                                            19

3^RD QTR                                                              28                                            28

TOTALS:                                                          (53)                                          (51)

TOTAL RESIDENTIAL - NEW CONSTRUCTION SOLD = (10)

CONDO/TOWNHOUSE:

                   Average Original          Average Reduced          Average Sold     Average Days

                   List Price                       List Price                        Price                  on Market

1^ST QTR        $ 616,772.                    $ 521,966.                      $ 492,868.              322

2^ND QTR          664,744.                       598,796.                         560,170.              284

3^RD QTR          813,144.                       701,987.                         663,860.              321

TOTAL CONDO/TOWNHOUSE UNITS: UNDER CONTRACT  COMPARABLE SALES

1^ST QTR                                                                            5                                        12

2^ND QTR                                                                           7                                         17

3^RD QTR                                                                           15                                       21

TOTALS:                                                                         (27)                                   (50)

TOTAL CONDO/TOWNHOUSE - NEW CONSTRUCTION SOLD = (16)