Market Dynamics

Prepared For

Pelican Crossing Subd, Gonzales LA 70737

William Cobb Accurate Valuations Group

Clarus MarketMetrics
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05/16/2012

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William Cobb

Accurate Valuations Group

Median Sold Price by Month

Apr-10 vs. Apr-12: The median sold price is up 1%

Apr-10 vs. Apr-12

Apr-10 242,450
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price:

Apr-12 245,900
All Construction Type:

Change 3,450
All Bedrooms: All

% +1%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

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05/16/2012

2 of 21

William Cobb

Accurate Valuations Group

Median Sold Price by Month

Apr-10 vs. Apr-12: The median sold price is up 1%

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

Median Price 245,900 285,750

# Units 1 2 0 0

Average DOM 112 14

245,000 234,900 233,000 307,900 338,278 250,000 242,700 231,900 239,900 217,000 229,900 254,900

5 1 1 0 2 2 1 2 0 3 0 1 1 1 1 0 0 0

282 224 136 14 24 1 240 204 158 299 47 159

235,500 236,900 242,450

1 2 2

154 224 54

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Apr-10 vs. Apr-12: The median price of for sale properties is up 12% and the median price of sold properties is up 1%

Apr-10 vs. Apr-12

Apr-10 239,900
MLS: GBRAR Property Types: Subdivision:

Apr-10 vs. Apr-12

% +12%
All Construction Type: All Bedrooms:

Apr-12 268,450
Period:

Change 28,550
Price:

Apr-10 242,450
All

Apr-12 245,900
Bathrooms: All

Change 3,450
Lot Size: All Sq Ft: All

% +1%

2 years (monthly)

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

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05/16/2012

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Apr-10 vs. Apr-12: The median price of for sale properties is up 12% and the median price of sold properties is up 1%
For Sale Median 268,450 259,450 271,900 271,900 247,900 245,900 245,000 239,900 242,900 239,900 239,900 242,900 239,400 236,900 239,400 242,900 239,400 239,900 239,900 239,900 239,900 239,900 239,900 239,900 239,900 # Properties For Sale 12 10 11 11 10 7 9 9 10 9 7 8 6 8 6 9 6 6 8 7 7 6 6 7 9 235,500 236,900 242,450 239,900 217,000 229,900 254,900 231,900 307,900 338,278 250,000 242,700 245,000 234,900 233,000 Sold Median 245,900 285,750 # Properties Sold 1 2 0 0 5 1 1 0 2 2 1 2 0 3 0 1 1 1 1 0 0 0 1 2 2 -4,400 -3,000 2,550 -3,000 -22,400 -10,000 15,000 -5,000 65,000 98,378 10,100 -200 -2,900 -11,000 -12,000 Price Difference -22,550 26,300

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

Clarus MarketMetrics

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05/16/2012

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William Cobb

Accurate Valuations Group

Sold Properties by Month

Apr-10 vs. Apr-12: The number of Sold properties is down 50%

Apr-10 vs. Apr-12

Apr-10 2
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price: All

Apr-12 1
Construction Type:

Change -1
All Bedrooms: All

% -50%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

1 of 2
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05/16/2012

6 of 21

William Cobb

Accurate Valuations Group

Sold Properties by Month

Apr-10 vs. Apr-12: The number of Sold properties is down 50%

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

# Properties 1 2 0 0 5 1 1 0 2 2 1 2 0 3 0 1 1 1 1 0 0 0 1 2 2

Median Price 245,900 285,750

Average DOM 112 14

245,000 234,900 233,000 307,900 338,278 250,000 242,700 231,900 239,900 217,000 229,900 254,900

282 224 136 14 24 1 240 204 158 299 47 159

235,500 236,900 242,450

154 224 54

Clarus MarketMetrics

2 of 2
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05/16/2012

7 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Apr-10 vs. Apr-12: The number of Under Contract properties has not changed

Apr-10 vs. Apr-12

Apr-10 2
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price: All

Apr-12 2
Construction Type:

Change 0
All Bedrooms: All

% 0%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

1 of 2
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05/16/2012

8 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Apr-10 vs. Apr-12: The number of Under Contract properties has not changed

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

# Properties 2 0 1 0 3 2 2 1 1 0 1 1 1 3 1 2 0 2 2 0 0 0 0 1 2

Median Price 257,450 332,600 245,000 242,900 234,900 234,900 299,900 339,900 250,000 238,900 231,900 249,900 336,928 228,450 244,900

Average DOM 196 28 93 468 211 136 27 48 1 432 71 447 1 228 103

239,900 235,900

154 224

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

New Properties by Month

Apr-10 vs. Apr-12: The number of New properties is up 100%

Apr-10 vs. Apr-12

Apr-10 1
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price: All

Apr-12 2
Construction Type:

Change 1
All Bedrooms: All

% +100%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

1 of 2
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05/16/2012

10 of 21

William Cobb

Accurate Valuations Group

New Properties by Month

Apr-10 vs. Apr-12: The number of New properties is up 100%

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

# Properties 2 1 0 4 5 0 1 0 1 3 0 3 1 3 0 3 2 0 1 0 1 0 1 0 1

Median Price 271,400 218,000 273,900 245,900 245,000 285,000 269,000 250,000 249,900 234,900 327,800 230,900 295,000 229,900 239,900 259,900

Clarus MarketMetrics

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05/16/2012

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William Cobb

Accurate Valuations Group

For Sale Properties by Month

Apr-10 vs. Apr-12: The number of For Sale properties is up 33%

Apr-10 vs. Apr-12

Apr-10 9
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price: All

Apr-12 12
Construction Type:

Change 3
All Bedrooms: All

% +33%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

1 of 2
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05/16/2012

12 of 21

William Cobb

Accurate Valuations Group

For Sale Properties by Month

Apr-10 vs. Apr-12: The number of For Sale properties is up 33%

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

# Properties 12 10 11 11 10 7 9 9 10 9 7 8 6 8 6 9 6 6 8 7 7 6 6 7 9

Median Price 268,450 259,450 271,900 271,900 247,900 245,900 245,000 239,900 242,900 239,900 239,900 242,900 239,400 236,900 239,400 242,900 239,400 239,900 239,900 239,900 239,900 239,900 239,900 239,900 239,900

Average DOM 120 118 100 73 80 224 203 191 148 135 148 104 178 143 246 156 204 254 196 200 170 165 134 149 148

Clarus MarketMetrics

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05/16/2012

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William Cobb

Accurate Valuations Group

Expired Properties by Month

Apr-10 vs. Apr-12: The percent change calculation is N/A

Apr-10 vs. Apr-12

Apr-10 0
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price: All

Apr-12 1
Construction Type:

Change 1
All Bedrooms: All

Bathrooms:

All

Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

1 of 2
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05/16/2012

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William Cobb

Accurate Valuations Group

Expired Properties by Month

Apr-10 vs. Apr-12: The percent change calculation is N/A

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

# Properties 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0

Median Price 229,900 285,000

Average DOM 258 185

295,000

85

279,000

256

Clarus MarketMetrics

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05/16/2012

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William Cobb

Accurate Valuations Group

Supply & Demand by Month

Apr-10 vs. Apr-12: The number of for sale properties is up 33% and the number of sold properties is down 50%

Apr-10 vs. Apr-12

Apr-10 9
MLS: GBRAR Property Types: Subdivision:

Apr-10 vs. Apr-12

% +33%
All Construction Type: All Bedrooms:

Apr-12 12
Period:

Change 3
Price:

Apr-10 2
All

Apr-12 1
Bathrooms: All

Change -1
Lot Size: All Sq Ft: All

% -50%

2 years (monthly)

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

1 of 2
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05/16/2012

16 of 21

William Cobb

Accurate Valuations Group

Supply & Demand by Month

Apr-10 vs. Apr-12: The number of for sale properties is up 33% and the number of sold properties is down 50%
# Properties For Sale 12 10 11 11 10 7 9 9 10 9 7 8 6 8 6 9 6 6 8 7 7 6 6 7 9 Average DOM For Sale 120 118 100 73 80 224 203 191 148 135 148 104 178 143 246 156 204 254 196 200 170 165 134 149 148 # Properties Sold 1 2 0 0 5 1 1 0 2 2 1 2 0 3 0 1 1 1 1 0 0 0 1 2 2 154 224 54 158 299 47 159 204 14 24 1 240 282 224 136 Average DOM Sold 112 14

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Apr-10 vs. Apr-12: The average days on market is down 12%

Apr-10 vs. Apr-12

Apr-10 224
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price: All

Apr-12 196
Construction Type:

Change -28
All Bedrooms: All

% -12%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

1 of 2
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05/16/2012

18 of 21

William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Apr-10 vs. Apr-12: The average days on market is down 12%

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

Average DOM 196 28 93 468 211 136 27 48 1 432 71 447 1 228 103

# UC Units 2 0 1 0 3 2 2 1 1 0 1 1 1 3 1 2 0 2 2 0 0 0 0

154 224

1 2

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

Apr-10 vs. Apr-12: The average months supply of inventory is up 29%

Apr-10 vs. Apr-12

Apr-10 3.5
MLS: GBRAR Property Types: Subdivision: Period: 2 years (monthly) Price: All

Apr-12 4.5
Construction Type:

Change 1.0
All Bedrooms: All

% +29%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Preconstruction DSF) Pelican Crossing

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

Apr-10 vs. Apr-12: The average months supply of inventory is up 29%
# Units For Sale Last Day of Month 9 10 9 11 7 5 7 8 9 9 6 7 5 5 5 6 6 4 6 7 7 6 6 5 7 # UC Units During Month 2 0 1 0 3 2 2 1 1 0 1 1 1 3 1 2 0 2 2 0 0 0 0 1 2 5.0 3.5 154 224 2.0 3.0 228 103 6.0 7.0 5.0 1.7 5.0 3.0 48 1 432 71 447 1 2.3 2.5 3.5 8.0 9.0 93 468 211 136 27 9.0 28 UC Average DOM 196

Time Period Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11 Apr-11 Mar-11 Feb-11 Jan-11 Dec-10 Nov-10 Oct-10 Sep-10 Aug-10 Jul-10 Jun-10 May-10 Apr-10

MSI 4.5

Clarus MarketMetrics

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