Market Dynamics

Prepared For

EBRP 9/11vs9/12 New Homes, LA Baton Rouge ALL EBRP

William Cobb Accurate Valuations Group

Clarus MarketMetrics
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09/16/2012

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William Cobb

Accurate Valuations Group

Median Sold Price by Month

Aug-11 vs. Aug-12: The median sold price is up 3%

Aug-11 vs. Aug-12

Aug-11 211,255
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 217,900
All Construction Type:

Change 6,645
New Bedrooms: All

% +3%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

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09/16/2012

2 of 21

William Cobb

Accurate Valuations Group

Median Sold Price by Month

Aug-11 vs. Aug-12: The median sold price is up 3%

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

Median Price 217,900 230,000 219,600 205,000 205,000 229,900 225,900 224,876 231,200 233,500 204,900 233,748 211,255

# Units 51 45 47 45 37 27 27 28 32 32 37 38 45

Average DOM 110 129 107 116 161 133 136 116 105 121 108 117 93

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Aug-11 vs. Aug-12: The median price of for sale properties has not changed and the median price of sold properties is up

Aug-11 vs. Aug-12

Aug-11 235,000
MLS: GBRAR Property Types: MLS Area:

Aug-11 vs. Aug-12

% 0%
All Construction Type: New Bedrooms:

Aug-12 235,000
Period: 1 year (monthly)

Change 0
Price:

Aug-11 211,255
All

Aug-12 217,900
Bathrooms: All

Change 6,645
Lot Size: All Sq Ft: All

% +3%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

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09/16/2012

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Aug-11 vs. Aug-12: The median price of for sale properties has not changed and the median price of sold properties is up
For Sale Median 235,000 239,900 230,000 224,900 230,000 230,000 230,000 230,000 235,000 234,000 234,000 238,900 235,000 # Properties For Sale 331 358 352 342 350 367 372 367 354 356 360 355 349 Sold Median 217,900 230,000 219,600 205,000 205,000 229,900 225,900 224,876 231,200 233,500 204,900 233,748 211,255 # Properties Sold 51 45 47 45 37 27 27 28 32 32 37 38 45 Price Difference -17,100 -9,900 -10,400 -19,900 -25,000 -100 -4,100 -5,124 -3,800 -500 -29,100 -5,152 -23,745

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Sold Properties by Month

Aug-11 vs. Aug-12: The number of Sold properties is up 13%

Aug-11 vs. Aug-12

Aug-11 45
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 51
All Construction Type:

Change 6
New Bedrooms: All

% +13%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

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09/16/2012

6 of 21

William Cobb

Accurate Valuations Group

Sold Properties by Month

Aug-11 vs. Aug-12: The number of Sold properties is up 13%

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

# Properties 51 45 47 45 37 27 27 28 32 32 37 38 45

Median Price 217,900 230,000 219,600 205,000 205,000 229,900 225,900 224,876 231,200 233,500 204,900 233,748 211,255

Average DOM 110 129 107 116 161 133 136 116 105 121 108 117 93

Clarus MarketMetrics

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09/16/2012

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William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Aug-11 vs. Aug-12: The number of Under Contract properties is up 28%

Aug-11 vs. Aug-12

Aug-11 39
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 50
All Construction Type:

Change 11
New Bedrooms: All

% +28%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

1 of 2
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09/16/2012

8 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Aug-11 vs. Aug-12: The number of Under Contract properties is up 28%

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

# Properties 50 67 50 64 63 54 44 34 30 26 33 40 39

Median Price 209,250 219,600 205,200 203,450 233,900 215,500 220,474 214,614 222,932 218,900 232,900 239,500 235,650

Average DOM 130 98 85 95 98 146 125 110 146 142 126 113 111

Clarus MarketMetrics

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09/16/2012

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William Cobb

Accurate Valuations Group

New Properties by Month

Aug-11 vs. Aug-12: The number of New properties is up 64%

Aug-11 vs. Aug-12

Aug-11 33
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 54
All Construction Type:

Change 21
New Bedrooms: All

% +64%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

1 of 2
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09/16/2012

10 of 21

William Cobb

Accurate Valuations Group

New Properties by Month

Aug-11 vs. Aug-12: The number of New properties is up 64%

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

# Properties 54 80 79 62 48 50 54 74 31 53 60 63 33

Median Price 223,450 250,400 237,700 204,200 223,025 218,000 217,262 202,100 233,600 230,000 226,725 259,900 235,650

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

For Sale Properties by Month

Aug-11 vs. Aug-12: The number of For Sale properties is down 5%

Aug-11 vs. Aug-12

Aug-11 349
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 331
All Construction Type:

Change -18
New Bedrooms: All

% -5%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

1 of 2
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09/16/2012

12 of 21

William Cobb

Accurate Valuations Group

For Sale Properties by Month

Aug-11 vs. Aug-12: The number of For Sale properties is down 5%

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

# Properties 331 358 352 342 350 367 372 367 354 356 360 355 349

Median Price 235,000 239,900 230,000 224,900 230,000 230,000 230,000 230,000 235,000 234,000 234,000 238,900 235,000

Average DOM 254 238 251 252 242 236 229 225 278 263 260 260 267

Clarus MarketMetrics

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09/16/2012

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William Cobb

Accurate Valuations Group

Expired Properties by Month

Aug-11 vs. Aug-12: The number of Expired properties is up 6%

Aug-11 vs. Aug-12

Aug-11 18
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 19
All Construction Type:

Change 1
New Bedrooms: All

% +6%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

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09/16/2012

14 of 21

William Cobb

Accurate Valuations Group

Expired Properties by Month

Aug-11 vs. Aug-12: The number of Expired properties is up 6%

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

# Properties 19 13 25 4 8 11 11 15 31 7 24 15 18

Median Price 209,900 230,000 208,750 377,400 173,950 279,900 209,900 230,711 344,256 299,900 234,450 249,900 267,400

Average DOM 329 248 294 90 125 265 242 199 681 212 205 271 295

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Supply & Demand by Month

Aug-11 vs. Aug-12: The number of for sale properties is down 5% and the number of sold properties is up 13%

Aug-11 vs. Aug-12

Aug-11 349
MLS: GBRAR Property Types: MLS Area:

Aug-11 vs. Aug-12

% -5%
All Construction Type: New Bedrooms:

Aug-12 331
Period: 1 year (monthly)

Change -18
Price:

Aug-11 45
All

Aug-12 51
Bathrooms: All

Change 6
Lot Size: All Sq Ft: All

% +13%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

1 of 2
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09/16/2012

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William Cobb

Accurate Valuations Group

Supply & Demand by Month

Aug-11 vs. Aug-12: The number of for sale properties is down 5% and the number of sold properties is up 13%
# Properties For Sale 331 358 352 342 350 367 372 367 354 356 360 355 349 Average DOM For Sale 254 238 251 252 242 236 229 225 278 263 260 260 267 # Properties Sold 51 45 47 45 37 27 27 28 32 32 37 38 45 Average DOM Sold 110 129 107 116 161 133 136 116 105 121 108 117 93

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Aug-11 vs. Aug-12: The average days on market is up 17%

Aug-11 vs. Aug-12

Aug-11 111
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 130
All Construction Type:

Change 19
New Bedrooms: All

% +17%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

1 of 2
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09/16/2012

18 of 21

William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Aug-11 vs. Aug-12: The average days on market is up 17%

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

Average DOM 130 98 85 95 98 146 125 110 146 142 126 113 111

# UC Units 50 67 50 64 63 54 44 34 30 26 33 40 39

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

Aug-11 vs. Aug-12: The average months supply of inventory is down 30%

Aug-11 vs. Aug-12

Aug-11 7.5
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 5.2
All Construction Type:

Change -2.2
New Bedrooms: All

% -30%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) EBR MLS AREA 11, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA 52, EBR MLS AREA 53, EBR MLS AREA 61, EBR MLS AREA 62

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

Aug-11 vs. Aug-12: The average months supply of inventory is down 30%
# Units For Sale Last Day of Month 262 278 278 274 280 302 317 318 293 323 303 300 292 # UC Units During Month 50 67 50 64 63 54 44 34 30 26 33 40 39 UC Average DOM 130 98 85 95 98 146 125 110 146 142 126 113 111

Time Period Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11

MSI 5.2 4.1 5.6 4.3 4.4 5.6 7.2 9.4 9.8 12.4 9.2 7.5 7.5

Clarus MarketMetrics

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