Market Dynamics

Prepared For

EBRP 2/2012 vs 2/2013, East Baton Rouge EXISTING

William Cobb Accurate Valuations Group

Clarus MarketMetrics
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

1 of 21

William Cobb

Accurate Valuations Group

Median Sold Price by Month

Feb-12 vs. Feb-13: The median sold price is up 1%

Feb-12 vs. Feb-13

Feb-12 154,163
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price:

Feb-13 155,000
All Construction Type:

Change 837
Resale Bedrooms: All

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

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

2 of 21

William Cobb

Accurate Valuations Group

Median Sold Price by Month

Feb-12 vs. Feb-13: The median sold price is up 1%

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

Median Price 155,000 145,000 146,000 154,500 154,950 165,000 167,000 165,900 160,625 163,950 152,600 152,500 154,163

# Units 239 212 255 292 308 297 296 357 388 388 312 337 232

Average DOM 99 108 83 95 90 97 95 83 81 91 91 104 104

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

3 of 21

William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Feb-12 vs. Feb-13: The median price of for sale properties is up 2% and the median price of sold properties is up 1%

Feb-12 vs. Feb-13

Feb-12 150,000
MLS: GBRAR Property Types: County:

Feb-12 vs. Feb-13

% +2%
All Construction Type: Resale Bedrooms:

Feb-13 153,000
Period: 1 year (monthly)

Change 3,000
Price:

Feb-12 154,163
All

Feb-13 155,000
Bathrooms: All

Change 837
Lot Size: All Sq Ft: All

% +1%

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

4 of 21

William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

Feb-12 vs. Feb-13: The median price of for sale properties is up 2% and the median price of sold properties is up 1%
For Sale Median 153,000 150,000 149,000 149,900 149,900 150,000 153,900 154,900 157,000 157,900 155,000 152,000 150,000 # Properties For Sale 2,528 2,491 2,397 2,568 2,727 2,741 2,813 2,900 2,899 2,882 2,831 2,767 2,639 Sold Median 155,000 145,000 146,000 154,500 154,950 165,000 167,000 165,900 160,625 163,950 152,600 152,500 154,163 # Properties Sold 239 212 255 292 308 297 296 357 388 388 312 337 232 Price Difference 2,000 -5,000 -3,000 4,600 5,050 15,000 13,100 11,000 3,625 6,050 -2,400 500 4,163

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

5 of 21

William Cobb

Accurate Valuations Group

Sold Properties by Month

Feb-12 vs. Feb-13: The number of Sold properties is up 3%

Feb-12 vs. Feb-13

Feb-12 232
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price: All

Feb-13 239
Construction Type:

Change 7
Resale Bedrooms: All

% +3%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

6 of 21

William Cobb

Accurate Valuations Group

Sold Properties by Month

Feb-12 vs. Feb-13: The number of Sold properties is up 3%

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

# Properties 239 212 255 292 308 297 296 357 388 388 312 337 232

Median Price 155,000 145,000 146,000 154,500 154,950 165,000 167,000 165,900 160,625 163,950 152,600 152,500 154,163

Average DOM 99 108 83 95 90 97 95 83 81 91 91 104 104

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

7 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Feb-12 vs. Feb-13: The number of Under Contract properties is up 16%

Feb-12 vs. Feb-13

Feb-12 319
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price: All

Feb-13 370
Construction Type:

Change 51
Resale Bedrooms: All

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

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

8 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month

Feb-12 vs. Feb-13: The number of Under Contract properties is up 16%

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

# Properties 370 289 235 259 310 286 269 351 338 384 386 356 319

Median Price 159,700 162,000 144,900 150,000 152,450 169,900 159,900 175,000 169,825 165,250 162,700 160,500 158,000

Average DOM 88 110 101 97 87 89 99 92 85 92 97 90 101

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

9 of 21

William Cobb

Accurate Valuations Group

New Properties by Month

Feb-12 vs. Feb-13: The number of New properties is up 14%

Feb-12 vs. Feb-13

Feb-12 470
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price: All

Feb-13 535
Construction Type:

Change 65
Resale Bedrooms: All

% +14%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

10 of 21

William Cobb

Accurate Valuations Group

New Properties by Month

Feb-12 vs. Feb-13: The number of New properties is up 14%

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

# Properties 535 577 297 392 509 446 513 586 615 614 618 622 470

Median Price 165,000 162,000 135,000 149,000 154,000 147,700 159,500 159,450 163,400 161,900 164,900 159,900 149,950

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

11 of 21

William Cobb

Accurate Valuations Group

For Sale Properties by Month

Feb-12 vs. Feb-13: The number of For Sale properties is down 4%

Feb-12 vs. Feb-13

Feb-12 2,639
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price: All

Feb-13 2,528
Construction Type:

Change -111
Resale Bedrooms: All

% -4%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

12 of 21

William Cobb

Accurate Valuations Group

For Sale Properties by Month

Feb-12 vs. Feb-13: The number of For Sale properties is down 4%

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

# Properties 2,528 2,491 2,397 2,568 2,727 2,741 2,813 2,900 2,899 2,882 2,831 2,767 2,639

Median Price 153,000 150,000 149,000 149,900 149,900 150,000 153,900 154,900 157,000 157,900 155,000 152,000 150,000

Average DOM 139 147 160 147 140 139 143 140 143 146 149 153 159

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

13 of 21

William Cobb

Accurate Valuations Group

Expired Properties by Month

Feb-12 vs. Feb-13: The number of Expired properties is down 15%

Feb-12 vs. Feb-13

Feb-12 175
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price: All

Feb-13 148
Construction Type:

Change -27
Resale Bedrooms: All

% -15%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

14 of 21

William Cobb

Accurate Valuations Group

Expired Properties by Month

Feb-12 vs. Feb-13: The number of Expired properties is down 15%

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

# Properties 148 209 248 209 241 237 249 249 242 216 176 200 175

Median Price 144,105 145,000 152,000 150,000 151,500 147,900 159,900 150,000 159,900 163,250 135,450 139,950 130,000

Average DOM 188 186 220 161 180 188 250 186 217 190 203 192 186

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

15 of 21

William Cobb

Accurate Valuations Group

Supply & Demand by Month

Feb-12 vs. Feb-13: The number of for sale properties is down 4% and the number of sold properties is up 3%

Feb-12 vs. Feb-13

Feb-12 2,639
MLS: GBRAR Property Types: County:

Feb-12 vs. Feb-13

% -4%
All Construction Type: Resale Bedrooms:

Feb-13 2,528
Period: 1 year (monthly)

Change -111
Price:

Feb-12 232
All

Feb-13 239
Bathrooms: All

Change 7
Lot Size: All Sq Ft: All

% +3%

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

16 of 21

William Cobb

Accurate Valuations Group

Supply & Demand by Month

Feb-12 vs. Feb-13: The number of for sale properties is down 4% and the number of sold properties is up 3%
# Properties For Sale 2,528 2,491 2,397 2,568 2,727 2,741 2,813 2,900 2,899 2,882 2,831 2,767 2,639 Average DOM For Sale 139 147 160 147 140 139 143 140 143 146 149 153 159 # Properties Sold 239 212 255 292 308 297 296 357 388 388 312 337 232 Average DOM Sold 99 108 83 95 90 97 95 83 81 91 91 104 104

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

17 of 21

William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Feb-12 vs. Feb-13: The average days on market is down 13%

Feb-12 vs. Feb-13

Feb-12 101
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price: All

Feb-13 88
Construction Type:

Change -13
Resale Bedrooms: All

% -13%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

18 of 21

William Cobb

Accurate Valuations Group

The Average Days on Market by Month

Feb-12 vs. Feb-13: The average days on market is down 13%

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

Average DOM 88 110 101 97 87 89 99 92 85 92 97 90 101

# UC Units 370 289 235 259 310 286 269 351 338 384 386 356 319

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

19 of 21

William Cobb

Accurate Valuations Group

Months Supply of Inventory

Feb-12 vs. Feb-13: The average months supply of inventory is down 19%

Feb-12 vs. Feb-13

Feb-12 6.7
MLS: GBRAR Property Types: County: Period: 1 year (monthly) Price: All

Feb-13 5.4
Construction Type:

Change -1.3
Resale Bedrooms: All

% -19%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Manufactured/Mobile, Preconstruction DSF, Preconstruction ASF) East Baton Rouge

Clarus MarketMetrics

1 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

20 of 21

William Cobb

Accurate Valuations Group

Months Supply of Inventory

Feb-12 vs. Feb-13: The average months supply of inventory is down 19%
# Units For Sale Last Day of Month 2,010 1,993 1,914 2,100 2,176 2,218 2,295 2,301 2,323 2,286 2,272 2,213 2,145 # UC Units During Month 370 289 235 259 310 286 269 351 338 384 386 356 319 UC Average DOM 88 110 101 97 87 89 99 92 85 92 97 90 101

Time Period Feb-13 Jan-13 Dec-12 Nov-12 Oct-12 Sep-12 Aug-12 Jul-12 Jun-12 May-12 Apr-12 Mar-12 Feb-12

MSI 5.4 6.9 8.1 8.1 7.0 7.8 8.5 6.6 6.9 6.0 5.9 6.2 6.7

Clarus MarketMetrics

2 of 2
Information not guaranteed. 2013 - 2014 Terradatum and its suppliers and licensors (www.terradatum.com/about/licensors.td).

03/26/2013

21 of 21