DECEMBER-2008-SEA ISLE CITY,NJ:

RESIDENTIAL – UNDER CONTRACT: 12/1/2008 TO 12/31/2008 = (0)

RESIDENTIAL – COMPARABLE SALES: 12/1/2008 TO 12/31/2008 = (1)

                                                 ORIGINIAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                               LIST PRICE       PRICE          PRICE      DATE         onMkt

137 56^th(4)Bed.,(1.5)Bth50x150  $869,000.          SAME          $750,000.    12/23/08         96

VACANT LOTS/ LAND – UNDER CONTRACT: 12/1/2008 TO 12/31/2008 = (0)

VACANT LOTS/ LAND – COMPARABLE SALES: 12/1/2008 TO 12/31/2008 = (0)

COMMERCIAL – UNDER CONTRACT: 12/1/2008 TO 12/31/2008 = (0)

COMMERCIAL – COMPARABLE SALES: 12/1/2008 TO 12/31/2008 = (0)

MULTI-FAMILY – UNDER CONTRACT: 12/1/2008 TO 12/31/2008 = (0)

MULTI-FAMILY – COMPARABLE SALES: 12/1/2008 TO 12/31/2008 = (0)

CONDO/TOWNHOUSE – UNDER CONTRACT: 12/1/2008 TO 12/31/2008 = (8)

                                                                        ORIGINAL          REDUCED          DAYS ON

ADDRESS                                                     LIST PRICE         LIST PRICE       MARKET

4114 Central(1)Bed.,(1)Bth. #210                 $265,000.                $249,000.                   251

3710 Central(3)Bed.,(1)Bth. “A”-1stFl.          283,900.                  259,000.                   102

5712 Central(4)Bed.,(2.5)Bth. East                 535,000.                  SAME                       4

6804 Landis(5)Bed.,(3)Bth. North                   575,000.                  SAME                       38

* 130 48^th(5)Bed.,(3.5)Bth. East                      745,000.                  729,000.                    193

* 118 53^rd(5)Bed.,(3.5)Bth. East                      799,000.                  SAME                       74

* 21 48^th(5)Bed.,(4)Bth. North                       1,019,000.                999,000.                     108

25 55^th(5)Bed.,(4)Bth. East                            1,179,000.                 SAME                        181

(*) NEW CONSTRUCTION = (3)

CONDO/TOWNHOUSE – COMPARABLE SALES: 12/1/2008 TO 12/31/2008 = (7)

                                                       ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                                     LIST PRICE        PRICE      PRICE         DATE      onMkt

4315 Landis(2)Bed.,(1)Bth. 3rdFl  $339,000.             SAME         $300,000.    12/5/08          94

4114 Central(2)Bed.,(1)Bth. #317    335,900.            329,500.        300,000.     12/5/08         300

5813 Central(4)Bed.,(2)Bth. 1stFl    528,000.             SAME          500,000.     12/6/08          56

7300 Central(3)Bed.,(2)Bth.#C-Rear   589,000.         SAME           528,000.     12/29/08        91

116 88^th(4)Bed.,(3.5)Bth. East          799,000.             SAME          749,000.      12/5/08         144

* 114 72^nd(5)Bed.,(3)Bth. West        799,000.             SAME           775,000.      12/19/08       232

4478 Venicean(4)Bed.,(2.5)Bth. So 1,575,000.        1,195,000.       980,000.       12/12/08      231

(*) NEW CONSTRUCTION = (1)

                                                     (4,964,900.)       (4,578,500.)     (4,132,000.)                    (1,148)

Average Original            Average Reduced            Average Sold            Average Days on

List Price = $709,271.     List Price = $654,071.     Price = $590,286.      Market = 164

- Difference between ORIGINAL List Price and SOLD Price = (17%)

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

-

TOTAL SEAL ISLE CITY SALE INVENTORY (AS OF 1/4/2009) = 284

RESIDENTIAL                     17

LOTS/LAND                          6

COMMERCIAL                    7

MULTI-FAMILY                  15

CONDO/TOWNHOUSE       239