SEPTEMBER, 2008 – SEA ISLE CITY,NJ:

RESIDENTIAL – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)

RESIDENTIAL – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (1)

                                               ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                             LIST PRICE      PRICE         PRICE       DATE        onMkt

105 74^th (3)Bed.,(1.5)Bth.       $875,000.            SAME          $785,000.    9/12/08          237

55x100 lot

LOTS/ LAND – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)

LOTS/ LAND = COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (0)

COMMERCIAL – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (1)

                                                             ORIGINAL          REDUCED          DAYS ON

ADDRESS                                           LIST PRICE        LIST PRICE        MARKET

11 43^RD  Unit #6                                   $65,000.                 $25,000.                  351

Mickey & Jakes Deli – Promenade Shops - Inside Seats = 10 / Outside Seats = 10 to 12

COMMERCIAL – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (0)

MULTI-FAMILY – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (0)

MULTI-FAMILY – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (1)

                                                   ORIGINAL     REDUCED     SOLD     CLOSING    DAYS

ADDRESS                                 LIST PRICE     PRICE          PRICE       DATE       onMkt

9107 Landis(3/3)Bed.,(1/1)Bth.  $699,000.           SAME           $625,000.     9/30/08      242

40x83 lot

CONDO/TOWNHOUSE – UNDER CONTRACT: 9/1/2008 TO 9/30/2008 = (11)

                                                                         ORIGINAL          REDUCED          DAYS ON

ADDRESS                                                       LIST PRICE        LIST PRICE        MARKET

8601 Landis(1)Bed.,(1)Bth. 2ndFl                   $269,900.                 SAME                     91

5612 Landis(2)Bed.,(1)Bth. “A”1stFl                324,900.                 SAME                     13

4114 Central(2)Bed.,(1)Bth. #317                      335,900.                329,500.                   223

3817 Central(3)Bed.,(1.5)Bth. 1stFl                   495,000.                459,900.                   172

118 34^th(4)Bed.,(2)Bth. West                             549,000.                   SAME                    63

3609 Central(4)Bed.,(2)Bth. South                    569,900.                   SAME                    111

6422 Central(4)Bed.,(3)Bth. South                    739,000.                  699,000.                   119

26 W 47^th(4)Bed.,(2)Bth. West                          739,000.                  699,000.                   442

* 119 49^th(4)Bed.,(3.5)Bth. West                       829,000.                  729,999.                   497

* 5101 Central(5)Bed.,(4)Bth. North                  749,000.                    SAME                    59

* 114 72^nd(5)Bed.,(3)Bth. East                            799,000.                    SAME                   134

(*) NEW CONSTRUCTION = 3

CONDO/TOWNHOUSE – COMPARABLE SALES: 9/1/2008 TO 9/30/2008 = (7)

                                                         ORIGINAL     REDUCED     SOLD     CLOSING   DAYS

ADDRESS                                       LIST PRICE     PRICE          PRICE        DATE     onMkt

4800 Landis(2)Bed.,(2)Bth. #1N      $349,900.          $315,000.       $315,000.     9/29/08       175

300 Landis(2)Bed.,(2)Bth. #2             449,900.            379,900.        362,500.      9/29/08       509

101 39^th(3)Bed.,(2)Bth. “A” 1stFl       439,000.             SAME         407,500.      9/12/08       108

7101 Landis(3)Bed.,(2)Bth.”B” 2ndFl 579,000.           539,000.        507,000.     9/12/08        336

118 49^th(4)Bed.,(3.5)Bth. West            759,000.           679,900.        585,000.     9/26/08        242

* 7508 Central(5)Bed.,(3.5)Bth.South 739,000.            699,000.       655,000.      9/25/08       194

354 44^th(4)Bed.,(3.5)Bth. East            1,295,000.          995,000.       970,000.      9/12/08        411

(*) NEW CONSTRUCTION = 1

                                                       (4,610,800.)          (4,046,800.)   (3,802,000.)                 (1,975)

Average Original               Average Reduced               Average SOLD          Average Days on

List Price = $658,686.        List Price = $578,114.        Price = $543,143.       Market = 282

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

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

TOTAL SEA ISLE CITY SALE INVENTORY (AS OF 10/5/2008) = 315

RESIDENTIAL                                                 25

LOTS / LAND                                                     6

COMMERCIAL                                                 6

MULTI-FAMILY                                               10

CONDO/TOWNHOUSE                                    268