2009 – SEPTEMBER - STONE HARBOR,NJ:

RESIDENTIAL – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (5)

                                                         ORIGINAL               REDUCED               DAYS ON

ADDRESS                                       LIST PRICE             LIST PRICE            MARKET

39 Weber Ct. (4)Bed.,(1.5)Bth.        $775,000.                    $599,000.                  456

261 84^th St. (3)Bed.,(2)Bth.                725,000.                     SAME                      150

222 91^st St. (3)Bed.,(2)Bth.                 997,500.                    SAME                       2

9901 First (4)Bed.,(4)Bth.                2,495,000.                 2,389,000.                    168

* 129 109^th (5)Bed.,(5)Bth.              3,195,000.                    SAME                        79

(1) NEW CONSTRUCTION

RESIDENTIAL – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (5)

                                             ORIGINAL     REDUCED     SOLD     CLOSING     DAYS

ADDRESS                           LIST PRICE     PRICE         PRICE         DATE        onMkt

236 95^th(5)Bed.,(4)Bth.      $1,595,000.       $1,395,000.    $1,200,000.   9/2/09          191

305 84^th (4)Bed.,(2)Bth.       1,595,000.           SAME          1,380,000.   9/29/09        129

280 109^th (4)Bed.,(4.5)Bth.  1,495,000.           SAME          1,446,000.   9/25/09         111

* 10514 2nd (5)Bed.,(4/2)Bth.  2,675,000.      SAME          2,400,000.   9/25/09         82

* 134 87^th (5)Bede.,(5.5)Bth.    2,825,000.      SAME          2,600,000.   9/19/09         322

(2) NEW CONSTRUCTION

                                         (10,185,000.)       (9,985,000.)    (9,026,000.)               (835)

Average Original                  Average Reduced               Average Sold           Average Days on

List Price = $2,037,000.        List Price = $1,997,000.     Price = $1,805,200.  Market = 167

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

- Difference between ORIGINAL List Price and REDUCED Price = (2%)

LOTS/LAND – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (0)

LOTS/LAND – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (0)

COMMERCIAL – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (0)

COMMERCIAL – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (0)

MULTI-FAMILY – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (0)

MULTI-FAMILY – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (2)

                                                   ORIGINAL     REDUCED     SOLD     CLOSING    DAYS

ADDRESS                                 LIST PRICE    PRICE           PRICE      DATE         onMkt

243 B 88^th (1/1)Bed.,(1/1)Bth.   $ 549,000.         $ 429,000.       $ 360,000.   9/18/09       502

168 84^th (3/3)Bed.,(1.5/1.5)Bth.   1,400,000.       1,199,000.       1,080,000.   9/16/09       388

                                                    (1,949,000.)     (1,628,000.)    (1,440,000.)                   (890)

Average Original               Average Reduced               Average Sold              Average Days on

List Price = $974,500.        List Price = $814,000.        Price = $720,000.        Market = 445

- Difference between ORIGINAL List Price and SOLD Price = (26%)

- Difference between ORIGINAL List Price and REDUCED Price = (17%)

CONDO/TOWNHOUSE – UNDER CONTRACT: 9/1/2009 TO 9/30/2009 = (2)

                                                                         ORIGINAL            REDUCED            DAYS ON

ADDRESS                                                       LIST PRICE          LIST PRICE         MARKET

208 99^th (2)Bed., (1.5)Bth. #5                          $635,000.                 $595,000.               211

366 93^rd (4)Bed.,(3)Bth. South                          950,000.                    SAME                  14

CONDO/TOWNHOUSE – COMPARABLE SALES: 9/1/2009 TO 9/30/2009 = (1)

                                                        ORIGINAL     REDUCED     SOLD     CLOSING    DAYS

ADDRESS                                     LIST PRICE      PRICE          PRICE        DATE      onMkt

351 96^th (0)Bed.,(1)Bth. #415         $349,000.           $279,000.       $250,000.     9/5/09        810

TOTAL STONE HARBOR SALE INVENTORY (AS OF 10-3-09) = 203

RESIDENTIAL                                                     116

LOTS/LAND                                                          9

COMMERCIAL                                                    8

MULTI-FAMILY                                                  16

CONDO/TOWNHOUSE                                       54