Market Dynamics

Prepared For

EBRP 10/2011 vs 10/2012, Louisiana ALL EBRP

William Cobb Accurate Valuations Group

Clarus MarketMetrics
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11/16/2012

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William Cobb

Accurate Valuations Group

Median Sold Price by Month

Oct-11 vs. Oct-12: The median sold price is up 2%

Oct-11 vs. Oct-12

Oct-11 169,500
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Oct-12 172,375
All Construction Type:

Change 2,875
All Bedrooms: All

% +2%
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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Median Sold Price by Month

Oct-11 vs. Oct-12: The median sold price is up 2%

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

Median Price 172,375 178,500 175,500 175,000 174,853 171,000 161,400 164,000 164,500 159,000 161,500 159,900 169,500

# Units 360 342 350 410 436 436 349 366 261 213 269 271 287

Average DOM 93 104 98 87 84 93 98 106 108 100 94 105 107

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Oct-11 vs. Oct-12: The median price of for sale properties has not changed and the median price of sold properties is up 2%

Oct-11 vs. Oct-12

Oct-11 164,900
MLS: GBRAR Property Types: MLS Area:

Oct-11 vs. Oct-12

% 0%
All Construction Type: All Bedrooms:

Oct-12 164,900
Period: 1 year (monthly)

Change 0
Price:

Oct-11 169,500
All

Oct-12 172,375
Bathrooms: All

Change 2,875
Lot Size: All Sq Ft: All

% +2%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Oct-11 vs. Oct-12: The median price of for sale properties has not changed and the median price of sold properties is up 2%
For Sale Median 164,900 164,900 165,000 169,250 169,500 169,000 165,000 164,900 164,100 163,000 161,895 164,900 164,900 # Properties For Sale 3,068 3,049 3,164 3,294 3,299 3,263 3,207 3,159 3,034 3,014 2,991 3,108 3,256 Sold Median 172,375 178,500 175,500 175,000 174,853 171,000 161,400 164,000 164,500 159,000 161,500 159,900 169,500 # Properties Sold 360 342 350 410 436 436 349 366 261 213 269 271 287 Price Difference 7,475 13,600 10,500 5,750 5,353 2,000 -3,600 -900 400 -4,000 -395 -5,000 4,600

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

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Sold Properties by Month

Oct-11 vs. Oct-12: The number of Sold properties is up 25%

Oct-11 vs. Oct-12

Oct-11 287
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price: All

Oct-12 360
Construction Type:

Change 73
All Bedrooms: All

% +25%
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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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11/16/2012

6 of 21

William Cobb

Accurate Valuations Group

Sold Properties by Month

Oct-11 vs. Oct-12: The number of Sold properties is up 25%

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

# Properties 360 342 350 410 436 436 349 366 261 213 269 271 287

Median Price 172,375 178,500 175,500 175,000 174,853 171,000 161,400 164,000 164,500 159,000 161,500 159,900 169,500

Average DOM 93 104 98 87 84 93 98 106 108 100 94 105 107

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Oct-11 vs. Oct-12: The number of Under Contract properties is up 39%

Oct-11 vs. Oct-12

Oct-11 289
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price: All

Oct-12 401
Construction Type:

Change 112
All Bedrooms: All

% +39%
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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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11/16/2012

8 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Oct-11 vs. Oct-12: The number of Under Contract properties is up 39%

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

# Properties 401 334 333 429 393 445 450 413 365 291 231 249 289

Median Price 163,100 179,900 175,000 185,000 179,900 179,900 174,900 173,400 173,900 161,400 165,000 170,000 175,000

Average DOM 87 91 106 93 86 94 98 97 102 114 100 97 99

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

New Properties by Month

Oct-11 vs. Oct-12: The number of New properties is up 7%

Oct-11 vs. Oct-12

Oct-11 554
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price: All

Oct-12 593
Construction Type:

Change 39
All Bedrooms: All

% +7%
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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

New Properties by Month

Oct-11 vs. Oct-12: The number of New properties is up 7%

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

# Properties 593 484 567 664 697 689 670 675 535 564 355 434 554

Median Price 169,900 158,900 171,000 174,900 177,500 170,000 170,950 165,000 162,500 165,000 155,000 165,250 154,950

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

For Sale Properties by Month

Oct-11 vs. Oct-12: The number of For Sale properties is down 6%

Oct-11 vs. Oct-12

Oct-11 3,256
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price: All

Oct-12 3,068
Construction Type:

Change -188
All 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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

1 of 2
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11/16/2012

12 of 21

William Cobb

Accurate Valuations Group

For Sale Properties by Month

Oct-11 vs. Oct-12: The number of For Sale properties is down 6%

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

# Properties 3,068 3,049 3,164 3,294 3,299 3,263 3,207 3,159 3,034 3,014 2,991 3,108 3,256

Median Price 164,900 164,900 165,000 169,250 169,500 169,000 165,000 164,900 164,100 163,000 161,895 164,900 164,900

Average DOM 151 151 154 151 155 158 160 164 168 170 180 169 161

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Expired Properties by Month

Oct-11 vs. Oct-12: The number of Expired properties is down 14%

Oct-11 vs. Oct-12

Oct-11 293
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price: All

Oct-12 253
Construction Type:

Change -40
All Bedrooms: All

% -14%
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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Expired Properties by Month

Oct-11 vs. Oct-12: The number of Expired properties is down 14%

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

# Properties 253 240 266 267 272 217 183 211 185 223 311 223 293

Median Price 155,900 151,500 163,250 160,000 169,000 167,500 139,900 148,900 145,000 150,000 155,000 164,900 165,000

Average DOM 188 174 255 207 231 186 198 193 187 195 261 189 187

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Supply & Demand by Month

Oct-11 vs. Oct-12: The number of for sale properties is down 6% and the number of sold properties is up 25%

Oct-11 vs. Oct-12

Oct-11 3,256
MLS: GBRAR Property Types: MLS Area:

Oct-11 vs. Oct-12

% -6%
All Construction Type: All Bedrooms:

Oct-12 3,068
Period: 1 year (monthly)

Change -188
Price:

Oct-11 287
All

Oct-12 360
Bathrooms: All

Change 73
Lot Size: All Sq Ft: All

% +25%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

1 of 2
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William Cobb

Accurate Valuations Group

Supply & Demand by Month

Oct-11 vs. Oct-12: The number of for sale properties is down 6% and the number of sold properties is up 25%
# Properties For Sale 3,068 3,049 3,164 3,294 3,299 3,263 3,207 3,159 3,034 3,014 2,991 3,108 3,256 Average DOM For Sale 151 151 154 151 155 158 160 164 168 170 180 169 161 # Properties Sold 360 342 350 410 436 436 349 366 261 213 269 271 287 Average DOM Sold 93 104 98 87 84 93 98 106 108 100 94 105 107

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

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Oct-11 vs. Oct-12: The average days on market is down 12%

Oct-11 vs. Oct-12

Oct-11 99
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price: All

Oct-12 87
Construction Type:

Change -12
All Bedrooms: All

% -12%
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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Oct-11 vs. Oct-12: The average days on market is down 12%

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

Average DOM 87 91 106 93 86 94 98 97 102 114 100 97 99

# UC Units 401 334 333 429 393 445 450 413 365 291 231 249 289

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

Oct-11 vs. Oct-12: The average months supply of inventory is down 35%

Oct-11 vs. Oct-12

Oct-11 9.3
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price: All

Oct-12 6.0
Construction Type:

Change -3.2
All Bedrooms: All

% -35%
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 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

Oct-11 vs. Oct-12: The average months supply of inventory is down 35%
# Units For Sale Last Day of Month 2,414 2,475 2,565 2,599 2,639 2,605 2,578 2,537 2,484 2,500 2,450 2,636 2,674 # UC Units During Month 401 334 333 429 393 445 450 413 365 291 231 249 289 UC Average DOM 87 91 106 93 86 94 98 97 102 114 100 97 99

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

MSI 6.0 7.4 7.7 6.1 6.7 5.9 5.7 6.1 6.8 8.6 10.6 10.6 9.3

Clarus MarketMetrics

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