2009 – JULY – STONE HARBOR, NJ:

RESIDENTIAL – UNDER CONTRACT: JULY 1, 2009 TO JULY 31, 2009 – (4)

                                                          ORIGINAL             REDUCED              DAYS ON

ADDRESS                                        LIST PRICE           LIST PRICE           MARKET

236 95^th(5)Bed.,(4)Bth.                     $ 1,595,000.             $ 1,395,000.                 151

306 94^th(5)Bed.,(4.5)Bth.                     2,095,000.                1,795,000.                 320

8901 First (5)Bed.,(2.5)Bth.                 1,895,000.                  SAME                     71

* 134 87^th(5)Bed.,(5.5)Bth.                   2,825,000.                 SAME                     259

(1) NEW CONSTRUCTION

RESIDENTIAL – COMPARABLE SALES: JULY 1, 2009 TO JULY 31, 2009 = (3)

                                                   ORIGINAL     REDUCED     SOLD     CLOSING    DAYS

ADDRESS                                LIST PRICE      PRICE          PRICE        DATE      onMkt

8128 Third(2)Bed.,(1/2)Bth.     $ 659,000.         $ 559,000.       $ 520,000.    7/1/09         255

356 89^th(3)Bed.,(1)Bth.             1,200,000.            990,000.          675,000.    7/24/09       722

222 108^th(3)Bede.,(1.5)Bth.       1,100,000.           998,000.          950,000.    7/7/09         164

                                                 (2,959,000.)         (2,547,000.)    (2,145,000.)                  (1,141)

ORIGINAL                     REDUCED                    SOLD                     DAYS ON

List Price = $986,333.     List Price = $849,000.   Price = $715,000.   MARKET = 380

- Difference between ORIGINAL List Price and SOLD Price = (28%)

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

LOTS/LAND – UNDER CONTRACT: JULY 1, 2009 TO JULY 31, 2009 = (0)

LOTS/LAND – COMPARABLE SALES: JULY 1, 2009 TO JULY 31, 2009 = (0)

COMMERCIAL – UNDER CONTRACT: JULY 1, 2009 TO JULY 31, 2009 = (0)

COMMERCIAL – COMPARABLE SALES: JULY 1, 2009 TO JULY 31, 2009 = (0)

MULTI-FAMILY – UNDER CONTRACT: JULY 1, 2009 TO JULY 31, 2009 = (1)

                                                               ORIGINAL               REDUCED              DAYS ON

ADDRESS                                            LIST PRICE              LIST PRICE           MARKET

168 84^TH(3/3)Bede.,(1.5/1.5)Bth.         $ 1,400,000.                 $ 1,199,000.                338

MULTI-FAMILY – COMPARABLE SALES: JULY1, 2009 TO JULY 31, 2009 = (0)

CONDO/TOWNHOUSE – UNDER CONTRACT: JULY 1, 2009 TO JULY 31, 2009 – (0)

CONDO/TOWNHOUSE – COMPARABLE SALES: July 1, 2009 TO July 31, 2009 = (3)

                                                       ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                                     LIST PRICE      PRICE         PRICE       DATE        onMkt

351 96^th(0)Bed.,(1)Bth. #412         $ 359,000.          $ 329,000.     $ 310,000.   7/22/09          161

8001 Second(2)Bed.,(2)Bth. #216    599,000.             440,000.        375,000.    7/22/09          834

345 86^th(4)Bed.,(2.5)Bth. East        1,049,000.            899,000.        805,000.    7/31/09          144

                                                      (2,007,000.)       (1,668,000.)    (1,490,000.)                    (1,139)

ORIGINAL                            REDUCED                     SOLD                            DAYS ON

List Price = $669,000.            List Price = $556,000.    Price = $496,667.        Market = 380

- Difference between ORIGINAL List Price and SOLD Price = (26%)

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

TOTAL STONE HARBOR SALE INVENTORY (AS OF 8/15/09) = 210

RESIDENTIAL                                                          115

LOTS/LAND                                                               9

COMMERCIAL                                                         12

MULTI-FAMILY                                                       18

CONDO/TOWNHOUSE                                            56

2009 – AUGUST – STONE HARBOR, NJ:

RESIDENTIAL – UNDER CONTRACT: 8/1/2009 TO 8/31/2009 = (4)

                                                              ORIGINAL               REDUCED               DAYS ON

ADDRESS                                            LIST PRICE             LIST PRICE            MARKET

11021 Second(3)Bed.,(1.5)Bth.            $ 1,199,000.                $ 789,000.                     709

280 109^th (4)Bed.,(4.5)Bth.                      1,495,000.                   SAME                        61

134 110^th (6)Bed.,(4)Bth.                         1,849,000.                   SAME                        87

* 10514 Second (5)Bed.,(4/2)Bth.           2,675,000.                   SAME                        54

(1) NEW CONSTRUCTION

RESIDENTIAL – COMPARABLE SALES: 8/1/2009 TO 8/31/2009 = (3)

                                                  ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                                LIST PRICE     PRICE          PRICE       DATE        onMkt

306 94^th(5)Bed.,(4.5)Bth.          $ 2,095,000.       $ 1,795,000.   $ 1,650,000.  8/28/09        357

8901 First(5)Bed.,(2.5)Bth.          1,895,000.       SAME               1,750,000.  8/6/09          89

* 207 92^nd(6)Bed.,(4.5)Bth.          2,495,000.         2,395,000.       2,225,000.  8/12/09        197

(1) NEW CONSTRUCTION

                                                   (6,485,000.)      (6,085,000.)      (5,625,000.)                  (643)

Average Original               Average Reduced               Average Sold              Average Days on

List Price = $2,161,667.     List Price = $2,028,333.     Price = $1,875,000.     Market = 214

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

- Difference between ORIGINAL List Price and REDUCED Price = (6%)

LOTS/LAND – UNDER CONTRACT: 8/1/2009 TO 8/31/2009 = (0)

LOTS/LAND – COMPARABLE SALES: 8/1/2009 TO 8/31/2009 – (0)

COMMERCIAL – UNDER CONTRACT: 8/1/2009 TO 8/31/2009 = (0)

COMMERCIAL – COMPARABLE SALES: 8/1/2009 TO 8/31/2009 = (0)

MULTI-FAMILY – UNDER CONTRACT: 8/1/2009 TO 8/31/2009 = (1)

                                                             ORIGINAL               REDUCED               DAYS ON

ADDRESS                                          LIST PRICE             LIST PRICE             MARKET

243 B 88^TH ST: (1/1)Bed.,(1/1)Bth.    $ 549,000.                   $ 429,000.                       471

MULTI-FAMILY – COMPARABLE SALES: 8/1/2009 TO 8/31/2009 = (0)

CONDO/TOWNHOUSE – UNDER CONTRACT: 8/1/2009 TO 8/31/2009 = (2)

                                                                         ORIGINAL            REDUCED            DAYS ON

ADDRESS                                                       LIST PRICE          LIST PRICE         MARKET

10120 Third(0)Bed.,(1)Bth. #2                        $ 194,500.                   SAME                      111

9501 Sunset(2)Bed.,(2)Bth.                                 370,900.               $ 369,899.                    73

CONDO/TOWNHOUSE – COMPARABLE SALES: 8/1/2009 TO 8/31/2009 = (1)

                                                        ORIGINAL     REDUCED     SOLD     CLOSING    DAYS

ADDRESS                                     LIST PRICE       PRICE         PRICE        DATE      onMkt

260 83^rd (4)Bed.,(2)Bth. North       $ 729,000.            SAME          $ 660,000.    8/14/09        84

TOTAL STONE HARBOR SALE INVENTORY (AS OF 9-15-09) = 207

RESIDENTIAL                                                              115

LOTS/LAND                                                                   9

COMMERCIAL                                                             12

MULTI-FAMILY                                                           17

CONDO/TOWNHOUSE                                               54

2009 – SEPTEMBER - STONE HARBOR,NJ:

RESIDENTIAL – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (5)

                                                         ORIGINAL               REDUCED               DAYS ON

ADDRESS                                       LIST PRICE             LIST PRICE            MARKET

39 Weber Ct. (4)Bed.,(1.5)Bth.        $775,000.                    $599,000.                  456

261 84^th St. (3)Bed.,(2)Bth.                725,000.                     SAME                      150

222 91^st St. (3)Bed.,(2)Bth.                 997,500.                    SAME                       2

9901 First (4)Bed.,(4)Bth.                2,495,000.                 2,389,000.                    168

* 129 109^th (5)Bed.,(5)Bth.              3,195,000.                    SAME                        79

(1) NEW CONSTRUCTION

RESIDENTIAL – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (5)

                                             ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                           LIST PRICE     PRICE         PRICE         DATE        onMkt

236 95^th(5)Bed.,(4)Bth.      $1,595,000.       $1,395,000.    $1,200,000.   9/2/09          191

305 84^th (4)Bed.,(2)Bth.       1,595,000.           SAME          1,380,000.   9/29/09        129

280 109^th (4)Bed.,(4.5)Bth.  1,495,000.           SAME          1,446,000.   9/25/09         111

* 10514 2nd (5)Bed.,(4/2)Bth.  2,675,000.      SAME          2,400,000.   9/25/09         82

* 134 87^th (5)Bede.,(5.5)Bth.    2,825,000.      SAME          2,600,000.   9/19/09         322

(2) NEW CONSTRUCTION

                                         (10,185,000.)       (9,985,000.)    (9,026,000.)               (835)

Average Original                  Average Reduced               Average Sold           Average Days on

List Price = $2,037,000.        List Price = $1,997,000.     Price = $1,805,200.  Market = 167

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

- Difference between ORIGINAL List Price and REDUCED Price = (2%)

LOTS/LAND – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (0)

LOTS/LAND – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (0)

COMMERCIAL – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (0)

COMMERCIAL – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (0)

MULTI-FAMILY – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (0)

MULTI-FAMILY – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (2)

                                                   ORIGINAL     REDUCED     SOLD     CLOSING    DAYS

ADDRESS                                 LIST PRICE    PRICE           PRICE      DATE         onMkt

243 B 88^th (1/1)Bed.,(1/1)Bth.   $ 549,000.         $ 429,000.       $ 360,000.   9/18/09       502

168 84^th (3/3)Bed.,(1.5/1.5)Bth.   1,400,000.       1,199,000.       1,080,000.   9/16/09       388

                                                    (1,949,000.)     (1,628,000.)    (1,440,000.)                   (890)

Average Original               Average Reduced               Average Sold              Average Days on

List Price = $974,500.        List Price = $814,000.        Price = $720,000.        Market = 445

- Difference between ORIGINAL List Price and SOLD Price = (26%)

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

CONDO/TOWNHOUSE – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (2)

                                                                         ORIGINAL            REDUCED            DAYS ON

ADDRESS                                                       LIST PRICE          LIST PRICE         MARKET

208 99^th (2)Bed., (1.5)Bth. #5                          $635,000.                 $595,000.               211

366 93^rd (4)Bed.,(3)Bth. South                          950,000.                    SAME                  14

CONDO/TOWNHOUSE – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (1)

                                                        ORIGINAL     REDUCED     SOLD     CLOSING    DAYS

ADDRESS                                     LIST PRICE      PRICE          PRICE        DATE      onMkt

351 96^th (0)Bed.,(1)Bth. #415         $349,000.           $279,000.       $250,000.     9/5/09        810

TOTAL STONE HARBOR SALE INVENTORY (AS OF 10-3-09) = 203

RESIDENTIAL                                                     116

LOTS/LAND                                                          9

COMMERCIAL                                                    8

MULTI-FAMILY                                                  16

CONDO/TOWNHOUSE                                       54