3^RD QUARTER – STONE HARBOR,NJ – 2011 STATISTICS:

RESIDENTIAL: UNDER CONTRACT COMPARABLE SALES

- JULY 0 4

- AUGUST 1 4

- SEPTEMBER 7 1

(8) (9)

ORIGINAL List Price REDUCED List Price SOLD Price Days on Mkt

JULY $1,878,000. $1,764,725. $1,467,500. 312

AUGUST 1,953,500. 1,871,000. 1,705,562. 157

SEPTEMBER 1,995,000. 1,995,000. 1,850,000. 262

(5,826,500.) (5,630,725.) (5,023,062.) (731)

3^RD QUARTER

AVERAGE: $1,942,167. $1,876,908. $1,674,354. 244

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

- Difference between ORIGINAL List Price and REDUCED Price = (3%)

3^rd QTR – NEW CONSTRUCTION – RESIDENTIAL - UNDER CONTRACT = (0)

3^RD QTR – NEW CONSTRUCTION – RESIDENTIAL - COMPARABLE SALES = (0)

LOTS/LAND: UNDER CONTRACT COMPARABLE SALES

- JULY 0 0

- AUGUST 0 0

- SEPTEMBER 0 0

COMMERCIAL: UNDER CONTRACT COMPARABLE SALES

- JULY 0 0

- AUGUST 0 0

- SEPTEMBER 0 0

MULTI-FAMILY: UNDER CONTRACT COMPARABLE SALES

- JULY 0 0

- AUGUST 0 0

- SEPTEMBER 1 0

CONDO/TOWNHOUSE: UNDER CONTRACT COMPARABLE SALES

- JULY 0 1

- AUGUST 1 0

- SEPTEMBER 1 0

(2) (1)

ORIGINAL List Price REDUCED List Price SOLD Price Days on Mkt

JULY $569,000. $379,000. $350,000. 266

AUGUST -0- -0- -0- -0-

SEPTEMBER -0- -0- -0- -0-

3^RD QUARTER

AVERAGE: $569,000. $379,000. $350,000. 266

- Difference between ORIGINAL List Price and SOLD Price = (39%)

- Difference between ORIGINAL List Price and REDUCED Price = (33%)

3^RD QTR – CONDO/TOWNHOUSE – NEW CONSTRUCTION – UNDER CONTRACT = (0)

3^RD QTR – CONDO/TOWNHOUSE – NEW CONSTRUCTION – COMPARABLE SALES = (0)

STONE HARBOR COMPARISON – 3^RD QTR: 2009-2010-2011:

3^RD QTR 3^RD QTR 3^RD QTR

RESIDENTIAL:2009 RESIDENTIAL: 2010 RESIDENTIAL:2011

UNDER CONTRACT: 13 14 8

COMPARABLE SALES: 11 9 9

AVERAGE List Price: $1,728,333. $1,687,500. $1,942,167.

AVERAGE Sold Price: 1,465,067. 1,422,167. 1,674,354.

Days on Market: 254 247 244

3^RD QTR 3^RD QTR 3^RD QTR

CONDO/TOWN:2009 CONDO/TOWN: 2010 CONDO/TOWN:2011

UNDER CONTRACT: 4 1 2

COMPARABLE SALES: 5 1 1

AVERAGE List Price: $582,333. $401,333. $569,000.

AVERAGE SOLD Price: 521,333. 283,333. 350,000.

Days on Market: 427 109 266

TOTAL STONE HARBOR 3^RD QTR-2009 3^RD QTR-2010 3^RD QTR-2011

SALE INVENTORY:

(All Classes: Residential, Lots, Commercial, Multi-Family & Condo/Townhouse)

- JULY 210 249 257

- AUGUST 207 249 249

- SEPTEMBER 203 249 249

3^RD QTR

AVERAGE……………………. (207) (249) (252)

STONE HARBOR COMPARISON – 1^ST QTR – 2^ND QTR – 3^RD QTR – 2011:

1^ST QTR: 2011 2^ND QTR: 2011 3^RD QTR: 2011

RESIDENTIAL RESIDENTIAL RESIDENTIAL

UNDER CONTRACT 11 9 8

COMPARABLE SALES 6 21 9

AVERAGE list Price: $1,616,833. $2,038,322. $1,942,167.

AVERAGE Sold Price: $1,170,833. $1,850,833. $1,674,354.

AVERAGE Days on Mkt: 428 168 244

New Construction Residential:

UNDER CONTRACT 1 0 0

COMPARABLE SALES 0 2 0

1^ST QTR: 2011 2^ND QTR: 2011 3^RD QTR: 2011

CONDO/TOWN CONDO/TOWN CONDO/TOWN

UNDER CONTRACT 6 2 2

COMPARABLE SALES 4 4 1

AVERAGE List Price: $466,000. $739,667. $569,000.

AVERAGE Sold Price: $418,333. $675,500. $350,000.

AVERAGE Days on Mkt: 202 174 266

New Construction Condominium/Townhouse:

UNDER CONTRACT 0 0 0

COMPARABLE SALES 0 0 0

TOTAL STONE HARBOR

SALE INVENTORY:

(All Classes: Residential, Lots, Commercial, Multi-Family & Condo/Townhouse)

1^ST QTR – 2011 2^ND QTR – 2011 3^RD QTR – 2011 4^TH QTR – 2011 .

JAN.-2011 207 -APRIL-2011 245 -JULY-2011 257 -OCT.-2011

FEB.-2011 229 -MAY-2011 248 -AUG.-2011 249 -NOV.-2011

MAR.-2011 235 -JUNE-2011 253 -SEPT.-2011 249 -DEC.-2011

1^ST QTR 2^ND QTR 3^RD QTR 4^TH QTR

Average = 224 Average = (249) Average = (252) Average =

1^ST QTR-2010 2^ND QTR – 2010 3^RD QTR – 2010 4^TH QTR – 2010 .

JAN.-2010 192 -APRIL-2010 234 -JULY-2010 249 -OCT.-2010 236

FEB.-2010 209 -MAY-2010 231 -AUG.-2010 249 -NOV.-2010 277

MAR.-2010 206 -JUNE-2010 241 -SEPT.2010 249 -DEC.-2010 277

1^ST QTR 2^ND QTR 3^RD QTR 4^TH QTR

Average = (202) Average = (235) Average = (249) Average = (263)

1^ST QTR – 2009 2^ND QTR – 2009 3^RD QTR – 2009 4^TH QTR – 2009 .

JAN.-2009 202 -APRIL-2009 216 -JULY-2009 210 -OCT.-2009 186

FEB.-2009 210 -MAY-2009 227 -AUG-2009 207 -NOV.-2009 186

MAR.-2009 224 -JUNE-2009 220 -SEPT.-2009 203 -DEC.-2009 187

1^ST QTR 2^ND QTR 3^RD QTR 4^TH QTR

Average = (212) Average = (221) Average = (207) Average = (186)