Market Dynamics

Prepared For

W Livingston New Home Sls, Denham Springs Walker 7072670785

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 16%

Aug-11 vs. Aug-12
Aug-11 143,600
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 167,000
All Construction Type:

Change 23,400
New Bedrooms: All

% +16%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

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 16%

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 167,000 167,635 152,500 162,900 163,170 147,450 172,900 138,900 159,900 152,450 168,200 150,300 143,600

# Units 23 19 37 20 25 14 25 19 15 16 13 23 30

Average DOM 167 102 153 166 100 147 136 166 173 124 113 110 136

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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 is up 11% and the median price of sold properties is up 16%

Aug-11 vs. Aug-12
Aug-11 157,950
MLS: GBRAR Property Types: MLS Area:

Aug-11 vs. Aug-12
% +11%
All Construction Type: New Bedrooms:

Aug-12 174,900
Period: 1 year (monthly)

Change 16,950
Price:

Aug-11 143,600
All

Aug-12 167,000
Bathrooms: All

Change 23,400
Lot Size: All Sq Ft: All

% +16%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

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 is up 11% and the median price of sold properties is up 16%
For Sale Median 174,900 169,900 164,900 164,950 164,900 164,900 164,900 163,700 163,170 159,900 160,600 158,900 157,950 # Properties For Sale 190 201 175 186 199 196 202 209 213 208 207 165 174 Sold Median 167,000 167,635 152,500 162,900 163,170 147,450 172,900 138,900 159,900 152,450 168,200 150,300 143,600 # Properties Sold 23 19 37 20 25 14 25 19 15 16 13 23 30 Price Difference -7,900 -2,265 -12,400 -2,050 -1,730 -17,450 8,000 -24,800 -3,270 -7,450 7,600 -8,600 -14,350

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

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09/16/2012

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William Cobb

Accurate Valuations Group

Sold Properties by Month
Aug-11 vs. Aug-12: The number of Sold properties is down 23%

Aug-11 vs. Aug-12
Aug-11 30
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 23
All Construction Type:

Change -7
New Bedrooms: All

% -23%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

Clarus MarketMetrics®

1 of 2
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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 down 23%

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 23 19 37 20 25 14 25 19 15 16 13 23 30

Median Price 167,000 167,635 152,500 162,900 163,170 147,450 172,900 138,900 159,900 152,450 168,200 150,300 143,600

Average DOM 167 102 153 166 100 147 136 166 173 124 113 110 136

Clarus MarketMetrics®

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09/16/2012

7 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month
Aug-11 vs. Aug-12: The number of Under Contract properties is down 11%

Aug-11 vs. Aug-12
Aug-11 28
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 25
All Construction Type:

Change -3
New Bedrooms: All

% -11%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

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 down 11%

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 25 26 30 33 33 23 27 27 20 18 19 14 28

Median Price 159,900 149,800 157,450 154,900 164,900 161,900 169,800 156,635 153,900 146,760 169,900 186,800 154,100

Average DOM 129 213 162 133 102 131 89 145 139 116 157 110 93

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 down 40%

Aug-11 vs. Aug-12
Aug-11 30
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 18
All Construction Type:

Change -12
New Bedrooms: All

% -40%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

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 down 40%

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 18 57 23 27 29 25 24 19 25 25 60 28 30

Median Price 199,750 187,900 146,900 167,500 164,900 169,800 171,350 169,900 196,700 153,000 176,900 159,300 162,250

Clarus MarketMetrics®

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09/16/2012

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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 up 9%

Aug-11 vs. Aug-12
Aug-11 174
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 190
All Construction Type:

Change 16
New Bedrooms: All

% +9%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

Clarus MarketMetrics®

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09/16/2012

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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 up 9%

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 190 201 175 186 199 196 202 209 213 208 207 165 174

Median Price 174,900 169,900 164,900 164,950 164,900 164,900 164,900 163,700 163,170 159,900 160,600 158,900 157,950

Average DOM 171 166 192 180 171 165 148 146 136 121 116 126 120

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 down 56%

Aug-11 vs. Aug-12
Aug-11 9
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 4
All Construction Type:

Change -5
New Bedrooms: All

% -56%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

Clarus MarketMetrics®

1 of 2
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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 down 56%

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 4 3 1 1 7 3 4 4 3 2 5 4 9

Median Price 173,232 238,900 146,900 143,900 145,000 132,200 191,950 174,000 182,994 214,400 147,900 169,450 165,000

Average DOM 226 170 456 1 290 73 109 432 413 28 321 185 202

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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 up 9% and the number of sold properties is down 23%

Aug-11 vs. Aug-12
Aug-11 174
MLS: GBRAR Property Types: MLS Area:

Aug-11 vs. Aug-12
% +9%
All Construction Type: New Bedrooms:

Aug-12 190
Period: 1 year (monthly)

Change 16
Price:

Aug-11 30
All

Aug-12 23
Bathrooms: All

Change -7
Lot Size: All Sq Ft: All

% -23%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

Clarus MarketMetrics®

1 of 2
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09/16/2012

16 of 21

William Cobb

Accurate Valuations Group

Supply & Demand by Month
Aug-11 vs. Aug-12: The number of for sale properties is up 9% and the number of sold properties is down 23%
# Properties For Sale 190 201 175 186 199 196 202 209 213 208 207 165 174 Average DOM For Sale 171 166 192 180 171 165 148 146 136 121 116 126 120 # Properties Sold 23 19 37 20 25 14 25 19 15 16 13 23 30 Average DOM Sold 167 102 153 166 100 147 136 166 173 124 113 110 136

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

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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 39%

Aug-11 vs. Aug-12
Aug-11 93
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 129
All Construction Type:

Change 36
New Bedrooms: All

% +39%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

Clarus MarketMetrics®

1 of 2
Information not guaranteed. © 2012 - 2013 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

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 39%

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 129 213 162 133 102 131 89 145 139 116 157 110 93

# UC Units 25 26 30 33 33 23 27 27 20 18 19 14 28

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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 up 32%

Aug-11 vs. Aug-12
Aug-11 4.9
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

Aug-12 6.4
All Construction Type:

Change 1.5
New Bedrooms: All

% +32%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF) LIV MLS AREA 81, LIV MLS AREA 82, LIV MLS AREA 83

Clarus MarketMetrics®

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Information not guaranteed. © 2012 - 2013 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

09/16/2012

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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 up 32%
# Units For Sale Last Day of Month 161 173 144 153 160 170 171 178 190 188 183 147 137 # UC Units During Month 25 26 30 33 33 23 27 27 20 18 19 14 28 UC Average DOM 129 213 162 133 102 131 89 145 139 116 157 110 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

MSI 6.4 6.7 4.8 4.6 4.8 7.4 6.3 6.6 9.5 10.4 9.6 10.5 4.9

Clarus MarketMetrics®

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