2010 – DECEMBER – AVALON, NJ:

RESIDENTIAL – UNDER CONTRACT: 12/1/2010 TO 12/31/2010 = (6)

ORIGINAL REDUCED DAYS ON

ADDRESS LIST PRICE LIST PRICE MARKET

178 39^th (3)Bed.,(1)Bth. $879,000. SAME 73

408 42^nd (4)Bed.,(2)Bth. 1,850,000. 1,250,000. 226

588 3^rd (5)Bed.,(3)Bth. 1,549,000. SAME 43

168 35^th (4)Bed.,(3)Bth. 1,695,000. 1,595,000. 351

11 E. 11^th (5)Bed.,(4.5)Bth. 2,099,000. 1,699,000. 388

92 E. 14^th (5)Bed.,(5.5)Bth. 5,495,000. SAME 54

RESIDENTIAL – COMPARABLE SALES: 12/1/2010 TO 12/31/2010 = (15)

ORIGINAL REDUCED SOLD CLOSING DAYS

ADDRESS LIST PRICE PRICE PRICE DATE onMkt

2253 Ocean (5)Bed.,(1)Bth. $799,000. $525,000. $382,500. 12/15/10 988

2109 Harbor (3)Bed.,(2)Bth. 790,000. 699,999. 575,000. 12/17/10 217

148 15^th (3)Bed.,(2)Bth. 869,000. 848,333. 800,000. 12/15/10 121

141 16^th (4)Bed.,(2)Bth. 899,000. 879,000. 812,500. 12/30/10 171

2858 Ocean (3)Bed.,(1.5)Bth. 1,275,000. 900,000. 850,000. 12/31/10 1,066

2848 Ocean (5)Bed.,(2.5)Bth. 959,000. SAME 900,000. 12/9/10 56

205 37^th (4)Bed.,(3)Bth. 1,150,000. 899,000. 920,000. 12/29/10 217

221 41^st (5)Bed.,(4)Bth. 1,450,000. 1,395,000. 1,270,000. 12/31/10 588

226 58^th (4)Bed.,(3)Bth. 1,375,000. SAME 1,300,000. 12/18/10 122

1189 Avalon (5)Bed.,(3)Bth. 1,450,000. SAME 1,412,865. 12/14/10 61

*166 9^th (6)Bed.,(5.5)Bth. 1,699,000. 1,679,900. 1,562,500. 12/1/10 121

2888 Ocean (5)Bed.,(4)Bth. 2,200,000. 1,995,000. 1,750,000. 12/9/10 1,030

*261 77^th (5)Bed.,(5)Bth. 1,849,000. SAME 1,762,500. 12/21/10 49

3449 First (5)Bed.,(5)Bth. 2,375,000. 2,095,000. 1,937,500. 12/10/10 329

215 59^th (5)Bed.,(3.5)Bth. 2,400,000. 2,250,000. 1,950,000. 12/29/10 260

(2)NEW CONSTRUCTION

(21,539,000.) (19,799,232.) (18,155,365.) (5,396)

Average Original Average Reduced Average Sold Average Days on

List Price = $1,435,933. List Price = $1,319,949. Price = $1,210,358. Market = 360

- - Difference between ORIGINAL List Price and SOLD Price = (16%)

- - Difference between ORIGINAL List Price and REDUCED Price = (8%)

LOTS/LAND – UNDER CONTRACT: 12/1/10 TO 12/31/10 = (1)

ORIGINAL REDUCED DAYS ON

ADDRESS LIST PRICE LIST PRICE MARKET

9 W. 14^TH 60’x 110’ VACANT LOT $1,100,000. SAME 172

LOTS/LAND – COMPARABLE SALES: 12/1/10 TO 12/31/10 = (1)

ORIGINAL REDUCED SOLD CLOSING DAYS

ADDRESS LIST PRICE PRICE PRICE DATE onMkt

538 42^nd St. 50’x 155’ VACANT LOT $2,695,000. $2,295,000. $2,100,000. 12/30/10 310

COMMERCIAL – UNDER CONTRACT: 12/1/10 TO 12/31/10 = (0)

COMMERCIAL – COMPARABLE SALES: 12/1/10 TO 12/31/10 = (1)

ORIGINAL REDUCED SOLD CLOSING DAYS

ADDRESS LIST PRICE PRICE PRICE DATE onMkt

2166 Dune (1,435sq.ft.) #2166 $350,000. SAME $275,000. 12/28/10 354

MULTI-FAMILY – UNDER CONTRACT: 12/1/10 TO 12/31/10 = (0)

MULTI-FAMILY – COMPARABLE SALES: 12/1/10 TO 12/31/10 = (0)

CONDO/TOWNHOUSE – UNDER CONTRACT: 12/1/10 TO 12/31/10 = (0)

CONDO/TOWNHOUSE – COMPARABLE SALES: 12/1/10 TO 12/31/10 = (5)

ORIGINAL REDUCED SOLD CLOSING DAYS

ADDRESS LIST PRICE PRICE PRICE DATE onMkt

390 39^th (3)Bed.,(2.5)bth. #C-A $599,000. $499,999. $327,700. 12/13/10 313

3249 Ocean (4)Bed.,(2.5)Bth. North 875,000. 599,000. 515,000. 12/18/10 1,492

2164 Dune (3)Bed.,(3)Bth. #2164 699,000. 669,000. 624,000. 12/30/10 356

231 26^th (4)Bed.,(2)Bth. West 629,900. SAME 628,900. 12/23/10 80

1306 Ocean (4)Bed.,(2/2)Bth. #1306 999,900. 895,900. 825,000. 12/27/10 97

(3,802,800.) (3,293,799.) (2,920,600.) (2,338)

Average Original Average Reduced Average Sold Average Days on

List Price = $760,560. List Price = $658,760. Price = $584,120. Market = 468

- - Difference between ORIGINAL List Price and SOLD Price = (23%)

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

TOTAL AVALON SALE INVENTORY (AS OF 1-3-2011) = 312

RESIDENTIAL 173

LOTS/LAND 23

COMMERCIAL 9

MULTI-FAMILY 8

CONDO/TOWNHOUSE 99