Tim Lord's Foreclosure Study For Pike Township_ Marion County by wuyunyi

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         Tim Lord’s
      Foreclosure Study
             For
       Pike Township,
       Marion County,
           Indiana
            2008




Foreclosure Study For Pike Township 2008 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                                     Page 2
Disclaimer

All data used in this study came from MIBOR’s (Metropolitan Indianapolis Board Of
Realtors) BLC system (Broker Listing Cooperative). The data is DEEMED RELIABLE
BUT NOT GUARATEED. I did find some obvious errors in the data which I corrected for
the study. Examples; One BLC record that had a Pike Township area associated with it
was actually in a different Township. I discarded the record. There were also some
spelling errors that I corrected. I can not be responsible for other BLC data errors that
were used in my study.

Even though every precaution was taken to keep the data accurate, I can not be
responsible for clerical errors that may have happen during the 100 hours it took to put
this report together.

The information for the year 2008 was downloaded filtering a field called “Disclaimer” in
the BLC. I captured the “HUD”, “VA Owned”, “Bank Owned” “Possible Short Sale” and
“Pre-Foreclosure” records. These houses have already gone through the foreclosure or
short sale process and have been resold on the open market.

On page 20 where I did neighborhood foreclosure history, for 2007, 2006, 2005, 2004
and 2003 I went back and looked at each listing sheet for the information. In current
years I find that the listing agents/companies that entered the data into the BLC were
more accurate when it came to the “Disclaimer” field. In past years the “Disclaimer” field
was not always used and you had to look at the remarks and description of the house to
determine if it was a HUD, VA, Bank Owned Possible Short Sale or Pre-Foreclosure. In
some cases with past years it had to be an educated guess.

In this study I purposely did not use BLC #’s, addresses or anything that would pinpoint
any of the homes in the communities for privacy reasons. My intent was to base all
findings at community level and go no further.

In my mind this study can not represent all the foreclosed properties in Pike Township.
Case in point, if an individual/investor went to the Sheriff’s Sale and bought property, it
would never show up on the BLC as a foreclosed on property. If the individual/investor
fixed up the property and resold, it would look like a normal sale on the BLC. Since I
have not followed Sheriff’s sales (other than reading about houses going to Sheriff’s
Sale in the newspaper), I do not have a good idea how many that represents. It is my
understanding that in most cases the mortgage company that carried the loan for the
house in the first place buys back the house at the Sheriff’s Sale. If that is the case the
BLC listing sheet will show “Bank Owned”.




Foreclosure Study For Pike Township 2008 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                          Page 3
Index

Page        Description

 1          Title Page
 2          Disclaimer
 3          This Index
 4          Forward
 5          Key
 6          By Community
 8          By Units Sold
 10         By DOM (Days On Market)
 12         By Sale Price
 14         By Percentage Of Original List Price
 16         By Average Dollars Per Square Foot
 18         By Year Built
 22         Community History
 25         Graph showing Condos Sold Based On Sale Date And Sale Price
 26         Graph showing Homes Sold Based On Sale Date And Sale Price
 27         Preview Of 2009 (First Half)
 29         Conclusion
 30         Case Study Introduction
 31         Case Study 1 – Bishops Pond
 33         Case Study 2 – Lafayette Villas
 36         Case Study 3 – Robertson Village
 43         Case Study 4 – Arbor Village




Foreclosure Study For Pike Township 2008 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                                              Page 4
Forward
From the REALTOR® Code of Ethics;
Preamble
Under all is the land. Upon its wise utilization and widely allocated ownership depend the
survival and growth of free institutions and of our civilization. REALTORS® should recognize
that the interests of the nation and its citizens require the highest and best use of the land and the
widest distribution of land ownership. They require the creation of adequate housing, the
building of functioning cities, the development of productive industries and farms, and the
preservation of a healthful environment. Such interests impose obligations beyond those of
ordinary commerce. They impose grave social responsibility and a patriotic duty to which
REALTORS® should dedicate themselves, and for which they should be diligent in preparing
themselves. REALTORS®, therefore, are zealous to maintain and improve the standards of their
calling and share with their fellow REALTORS® a common responsibility for its integrity and
honor. In recognition and appreciation of their obligations to clients, customers, the public, and
each other, REALTORS® continuously strive to become and remain informed on issues
affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their
experience and study with others.

Before I became a REALTOR® I was a computer programmer for a large corporation in
Park 100. My company at the time maintained vast amounts of sales, inventory and
detail data that was historical in nature. During the course of my computer programmer
career, part of my job was to retrieve this data and write and create reports that could
be used to the companies benefit. IBM called this Data Mining. It kept our company one
step ahead of our competition.

Once I became a REALTOR® and had access to the BLC system I discovered that
there were vast amounts of historical data at my finger tips related to the buying and
selling of houses. It was simply a matter of downloading it, summarizing it and putting it
into the form I wanted.

I started doing in depth Pike Township foreclosure studies in 2006. Before then I only
used HUD homes. My intentions and motivations were to attract new Pike Township
investors in my business and to (from the preamble above) “share the fruit of their (my)
experience and study with others”.

This study is only about 327 houses/condos, what I call “bank related” homes sold in
2008. They either went through the foreclosure process and resold or were “short sold”
before going into foreclosure. The only information I had to use was listing information.
Disclaimers in the listing information show if the home was a HUD, VA, Bank Owned,
Possible Short Sale or Pre-Foreclosure. There is never any pre-information in the BLC
relating to why the house had to go through the foreclosure or short sale process.

1070 homes/condos (an un-audited number by me) were sold in Pike Township during
2008. The 327 homes/condos in this study represent 30.5% of the homes/condos sold
in Pike Township during 2008. This is up from 21.8% in 2007.



Foreclosure Study For Pike Township 2008 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                                        Page 5
Key
Community – This information came from the “Legal Description” in the BLC record.
This is the legal name for the community.

Not In Community – The 10 houses in this category are not in legal communities. They
are usually older and were plotted before there were communities in the area.

Coordinates North/West – Where the community is located. What 100 block north and
What 100 block west. I tried to make it close to an entrance to the community. In cases
where I show 2 different coordinates, the community physically is in two different areas.
Crooked Creek Heights is a good example. A majority of the community is below 79th
Street. There is a section on Payne Road north of 79th that is also called Crooked Creek
Heights.

Zip Code – The zip code the community is located in.

Total Sold – The number of houses sold in the community for this study.

Avg. DOM – The average number of days it took to sell these homes in the study.

Orig. List Price – Total – The list price of all houses in this study totaled for the
community.

List Price At Close – Total – Same as above but at closing. During the listing some
homes may have had price drops.

Sale Price At Close – Total – The sell price of all houses in this study totaled for the
community.

% Of Orig. List Price – Sale Price At Close – Total DIVIDED BY Orig. List Price – Total
expressed as a percentage. This shows what kind of discounts/premiums were paid by
buyers.

Total Square Ft. – The square footage of all houses in the study for the community. For
the sake of this study, square footage is only “above grade”. I never added in
basements even tough it may have been finished. For the most part square footage
numbers came from property tax records.

Avg. $$$ Per SF – Sale Price At Close – Total DIVIDED BY Total Square Ft. in whole
dollars. This gives you an idea as to what the study houses in each community are
selling for per square foot.




Foreclosure Study For Pike Township 2008 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                  Page 6




By Community
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total       Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.    Per SF
Condos                                         2008 2007

6500 Georgetown HPR               68/50       46268    7    9    125   $      567,820.00   $      492,900.00   $   411,700.00      73%        9,090        $    45
Arbor Village                     45/41       46254    4    1    59    $      326,400.00   $      290,500.00   $   245,012.00      75%        6,078        $    40
Bishops Pond HPR                  63/48       46268   11    1    118   $      996,400.00   $      786,200.00   $   739,305.00      74%        15,745       $    47
Bridgefield Villas HPR            68/47       46254    1    0    209   $      132,000.00   $      120,000.00   $   114,900.00      87%        1,494        $    77
Cobblestone HPR               46/75 & 47/77   46254    2    0    97    $      167,780.00   $      129,900.00   $   123,000.00      73%        2,363        $    52
Crooked Creek Condos              82/39       46268    1    3    88    $       65,000.00   $       52,000.00   $    35,860.00      55%        1,087        $    33
Eagle Cove                        41/71       46254    2    0    114   $      149,450.00   $      140,800.00   $   113,000.00      76%        2,350        $    48
Gateway Townhouse                 40/60       46254    2    4    110   $       39,400.00   $       29,800.00   $    14,090.00      36%        2,304        $     6
Gerogetown Crossing               71/51       46268    1    0    81    $       68,000.00   $       55,000.00   $    41,120.00      60%        1,260        $    33
Golden Woods                      92/27       46268    2    0    80    $      222,900.00   $      189,900.00   $   175,000.00      79%        2,898        $    60
Guion Creek Woods                 56/44       46254    3    1    62    $      271,000.00   $      242,000.00   $   194,720.00      72%        4,697        $    41
Hidden Bay                        86/82       46254    4    2    98    $      285,900.00   $      259,900.00   $   219,050.00      77%        5,788        $    38
Hidden Creek HPR                  86/82       46278    3    2    83    $      214,540.00   $      206,920.00   $   183,500.00      86%        3,224        $    57
Lafayette Villas HPR              57/60       46254    5    3    84    $      340,900.00   $      309,699.00   $   278,500.00      82%        6,059        $    46
Lake Forest HPR                   91/28       46268    1    0     9    $      111,900.00   $      111,900.00   $   111,900.00     100%        2,608        $    43
North Pointe Bay                  96/26       46268    1    0    45    $      110,900.00   $      105,900.00   $   103,500.00      93%        1,694        $    61
North Willow Woods                95/24       46268    3    1    88    $      270,677.00   $      241,777.00   $   218,078.00      81%        4,710        $    46
Parkside At Georgetown HPR        50/48       46254    2    5    188   $      129,900.00   $      114,900.00   $    91,500.00      70%        2,562        $    36
Sonoma                            40/69       46254    1    0    237   $       90,000.00   $       50,900.00   $    48,500.00      54%        1,079        $    45
The Village At Eagle Creek        43/72       46254    2    2    85    $      124,800.00   $       94,800.00   $    93,550.00      75%        1,986        $    47
Villas Of Oakbrook                60/49       46254    3    0    136   $      144,899.00   $      118,649.00   $   114,644.00      79%        3,034        $    38
Waterbury Condominiums            96/28       46268    1    1    30    $       68,900.00   $       64,900.00   $    60,220.00      87%        1,472        $    41
Westhaven Commons HPR             54/48       46254   12    8    79    $      756,750.00   $      691,850.00   $   640,451.00      85%        14,904       $    43
Whitehall Commons                 47/47       46254    4    4    129   $      213,800.00   $      162,800.00   $   139,900.00      65%        4,206        $    33
Wildwood Homes                    49/49       46268    1    1    102   $       52,000.00   $       47,000.00   $    28,875.00      56%        1,106        $    26

Totals - Condos                                       79         101   $ 5,922,016.00      $ 5,110,895.00      $ 4,539,875.00     77%         103,798      $    44

By Community
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total       Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.    Per SF
Houses                                         2008 2007

Augusta Crossing                  72/44       46268    3     1   51    $   296,900.00      $   282,900.00      $   270,901.00      91%        4,941        $    55
Augusta Green                     73/44       46268    1     2   10    $   110,000.00      $   110,000.00      $   108,250.00      98%        2,080        $    52
Augusta Heights                   48/29       46268    2     0   226   $    90,200.00      $    55,200.00      $    40,200.00      45%        2,425        $    17
Augusta Park                      79/24       46268    1     0   26    $   172,000.00      $   172,000.00      $   145,000.00      84%        2,936        $    49
Augusta Proper                    73/40       46268    1     0   204   $   185,500.00      $   141,000.00      $   141,000.00      76%        3,056        $    46
Bay Landing                       56/78       46254    1     0    9    $   290,000.00      $   290,000.00      $   292,000.00     101%        3,132        $    93
Bayswater At Eagle Creek          47/67       46254    7     6   123   $   567,000.00      $   492,600.00      $   461,900.00      81%        9,590        $    48
Branch Creek at Pike              79/37       46268    4     0   68    $   613,600.00      $   583,600.00      $   565,401.00      92%        8,677        $    65
Brookfield Village                46/45       46254    5     2   83    $   459,000.00      $   431,000.00      $   361,312.00      79%        7,895        $    46
Candlelite Village                62/33       46228    1     0   41    $    78,900.00      $    73,900.00      $    78,350.00      99%        1,252        $    63
Chestnut Hills                73/64 & 75/64   46278    3     0   126   $   554,700.00      $   504,700.00      $   493,400.00      89%        7,893        $    63
Cooper Pointe                     62/28       46268    5    14   46    $   408,550.00      $   380,300.00      $   361,340.00      88%        6,140        $    59
Coventry Woods                52/47 & 52/46   46254    8     2   124   $   479,500.00      $   399,250.00      $   343,800.00      72%        9,481        $    36
Crooked Creek Heights         81/38 & 79/37   46268    8     4   77    $   850,500.00      $   766,500.00      $   706,408.00      83%        13,300       $    53
Crooked Creek Villages            71/35       46268   14    11   61    $ 1,776,250.00      $ 1,693,650.00      $ 1,583,300.00      89%        29,059       $    54
Deer Creek                        56/51       46254    2     3   21    $   309,800.00      $   304,800.00      $   291,000.00      94%        4,423        $    66
Eagle Bay                         42/71       46254    1     2   66    $    84,900.00      $    74,900.00      $    75,000.00      88%        1,854        $    40
Eagle Trace Village               43/39       46254   13    16   89    $ 1,065,800.00      $ 1,028,700.00      $   947,233.00      89%        21,225       $    45
Eagles Watch                      46/70       46254    3     1   14    $   292,400.00      $   292,400.00      $   275,000.00      94%        4,632        $    59
Faith Knoll                       62/31       46268    1     0   56    $   134,900.00      $   130,900.00      $   122,000.00      90%        2,528        $    48
Falcon Lakes                      52/37       46227    2     5   37    $   229,000.00      $   229,000.00      $   215,000.00      94%        4,033        $    53
Falcon Run Village                46/56       46254    2     1   71    $   135,000.00      $   130,000.00      $   119,818.00      89%        2,862        $    42
Falcons Nest                      52/58       46254    2     4   109   $   200,900.00      $   182,900.00      $   168,000.00      84%        3,928        $    43
Fieldstone At Twin Creeks         53/48       46268    1     1    1    $    76,900.00      $    76,900.00      $    76,300.00      99%        1,957        $    39
Gateway West                      40/60       46254   19    10   76    $   886,350.00      $   755,450.00      $   640,449.00      72%        22,916       $    28
Georgetown Crossing               71/51       46268    1     3   70    $    89,900.00      $    79,900.00      $    79,900.00      89%        1,244        $    64

         Foreclosure Study For Pike Township 2008 By Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                 Page 7




By Community
Community                       Coordinates Zip Total Total Avg.           Orgin List       List Price At    Sale Price At     % of Orig.     Total       Avg $$$
                                North/West Code Sold Sold DOM             Price - Total     Close - Total    Close - Total     List Price   Square Ft.    Per SF
Houses                                          2008 2007

Gordon Acres                       81/66        46278    1     0   41    $   155,000.00    $   155,000.00    $   144,500.00       93%        2,096        $    69
Guion Lakes                        58/42        46254    1     0   60    $    84,000.00    $    84,000.00    $    77,500.00       92%        1,220        $    64
Guion Pointe                       45/41        46254    2     1   48    $   207,900.00    $   191,900.00    $   183,490.00       88%        3,748        $    49
Halcyon Park                       79/35        46268    1     0   27    $    53,900.00    $    53,900.00    $    50,000.00       93%        1,191        $    42
Hawthornes                         91/86        46278    3     3   39    $   582,800.00    $   566,700.00    $   554,900.00       95%        8,803        $    63
Highlands Trail                    44/68        46254    1     2   61    $    80,000.00    $    72,000.00    $    56,000.00       70%        1,090        $    51
Hunters Green                      64/68        46278    1     0   55    $   154,900.00    $   150,000.00    $   143,000.00       92%        1,517        $    94
Lakeside Manor                     53/53        46254   15    18   61    $ 1,442,400.00    $ 1,387,100.00    $ 1,273,254.00       88%        26,560       $    48
Lantern Park                       46/59        46254    2     1   106   $   134,800.00    $   129,400.00    $   117,900.00       87%        3,966        $    30
Legendary Hills                    71/56        46268    2     1   96    $   198,800.00    $   157,800.00    $   156,000.00       78%        3,613        $    43
Liberty Creek/North/Village        56/56        46254   20    12   58    $ 2,002,900.00    $ 1,870,800.00    $ 1,753,374.00       88%        33,277       $    53
Lincolnwood                        40/91        46234    2     0   62    $   297,900.00    $   264,900.00    $   229,203.00       77%        4,954        $    46
Michigan Road Gardens              66/25        46268    1     0   13    $    59,900.00    $    59,900.00    $    59,000.00       98%        1,622        $    36
Moller Village                     45/55        46254    6     4   127   $   424,500.00    $   322,640.00    $   292,188.00       69%        9,935        $    29
Morningside                        52/31        46228    3     5   171   $   293,900.00    $   248,700.00    $   227,800.00       78%        5,963        $    38
Normandy Farms                     79/67        46278    1     1   46    $   275,000.00    $   275,000.00    $   269,900.00       98%        3,781        $    71
Northpoint Village                 81/33        46268    2     0   96    $   251,400.00    $   219,800.00    $   210,300.00       84%        3,478        $    60
Oakforge Lakes/Woods               60/50        46254    1     4   53    $    95,900.00    $    95,900.00    $    97,000.00      101%        1,792        $    54
Phillips Carlon                    64/67        46278    1     1    1    $    42,900.00    $    42,900.00    $    37,000.00       86%        1,760        $    21
No Legal Community                                      10     8   73    $   884,900.00    $   735,500.00    $   657,094.00       74%        15,278       $    43
Pyramid Pointe                      91/33       46268    1     0   84    $   132,500.00    $   124,900.00    $   130,000.00       98%        1,584        $    82
Quail Ridge                         64/56       46278    1     1   46    $    85,000.00    $    80,000.00    $    64,008.00       75%        1,957        $    33
Robertson Village               41/38 & 40/38   46228   10     9   103   $   900,500.00    $   712,300.00    $   669,050.00       74%        15,987       $    42
Saddlebrook                         56/37       46228    4     0   46    $   735,600.00    $   710,600.00    $   673,900.00       92%        9,623        $    70
Shadow Pointe                       47/42       46254    1     1   150   $   129,900.00    $   129,900.00    $   127,500.00       98%        2,178        $    59
Stratford Glen                      62/58       46254    6     1   67    $   586,900.00    $   545,800.00    $   505,000.00       86%        8,602        $    59
Sunset At Eagle Creek               42/68       46254    1     1   56    $    69,900.00    $    58,000.00    $    58,900.00       84%         887         $    66
The Gardens At Eagle Creek          56/51       46254    2     3   143   $   184,800.00    $   144,800.00    $   139,800.00       76%        2,656        $    53
The Gardens North                   56/50       46254    2     1   61    $   161,800.00    $   144,800.00    $   138,999.00       86%        2,103        $    66
The Highlands at Eagle Creek        42/71       46254    3     0   117   $   275,700.00    $   231,800.00    $   234,800.00       85%        4,490        $    52
The Preserve @ Eagle Creek          82/86       46278    2     0   47    $   995,900.00    $   979,400.00    $   954,500.00       96%        6,936        $   138
The Village At Eagles Landing       38/74       46254    2     0   160   $   199,900.00    $   159,900.00    $   163,000.00       82%        2,984        $    55
Watersedge                          86/68       46278    1     0   101   $   549,900.00    $   480,000.00    $   448,000.00       81%        4,560        $    98
Wedgewood                           43/63       46254    4     7   85    $   264,300.00    $   228,900.00    $   206,300.00       78%        5,492        $    38
Westchester Estates             80/33 & 79/31   46268    8     2   123   $   673,300.00    $   563,300.00    $   531,910.00       79%        11,450       $    46
Westover                            79/42       46268    3     0   101   $   247,900.00    $   212,700.00    $   192,000.00       77%        4,467        $    43
Wetherburn                          75/30       46268    2     3   23    $   180,300.00    $   180,300.00    $   161,800.00       90%        3,310        $    49
Wilshire Glen                       38/90       46234    1     0   62    $    84,000.00    $    76,000.00    $    62,800.00       75%        1,377        $    46
Wolfington On Kessler               44/43       46228    1     0   118   $   124,900.00    $   104,900.00    $   105,000.00       84%        2,218        $    47
Wood Creek                          52/52       46254    1     2   81    $   119,900.00    $   107,300.00    $   103,000.00       86%        1,842        $    56
Woodland Place                      46/56       46254    1     2   150   $    74,900.00    $    65,000.00    $    55,000.00       73%        1,425        $    39
Worthington At West 86th            86/68       46278    4     0   124   $ 1,525,800.00    $ 1,392,800.00    $ 1,270,900.00       83%        12,728       $   100

Total - Houses                                          248        77    $ 26,465,750.00   $ 24,179,690.00   $ 22,547,832.00     85%         427,959      $    53




         Foreclosure Study For Pike Township 2008 By Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                    Page 8




By Total Sold 2008
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At      % of Orig.     Total       Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total      List Price   Square Ft.    Per SF
Condos                                         2008 2007

Westhaven Commons HPR              54/48       46254   12   8    79    $      756,750.00   $      691,850.00   $    640,451.00       85%        14,904       $    43
Bishops Pond HPR                   63/48       46268   11   1    118   $      996,400.00   $      786,200.00   $    739,305.00       74%        15,745       $    47
6500 Georgetown HPR                68/50       46268    7   9    125   $      567,820.00   $      492,900.00   $    411,700.00       73%        9,090        $    45
Lafayette Villas HPR               57/60       46254    5   3    84    $      340,900.00   $      309,699.00   $    278,500.00       82%        6,059        $    46
Arbor Village                      45/41       46254    4   1    59    $      326,400.00   $      290,500.00   $    245,012.00       75%        6,078        $    40
Hidden Bay                         86/82       46254    4   2    98    $      285,900.00   $      259,900.00   $    219,050.00       77%        5,788        $    38
Whitehall Commons                  47/47       46254    4   4    129   $      213,800.00   $      162,800.00   $    139,900.00       65%        4,206        $    33
Guion Creek Woods                  56/44       46254    3   1    62    $      271,000.00   $      242,000.00   $    194,720.00       72%        4,697        $    41
Hidden Creek HPR                   86/82       46278    3   2    83    $      214,540.00   $      206,920.00   $    183,500.00       86%        3,224        $    57
North Willow Woods                 95/24       46268    3   1    88    $      270,677.00   $      241,777.00   $    218,078.00       81%        4,710        $    46
Villas Of Oakbrook                 60/49       46254    3   0    136   $      144,899.00   $      118,649.00   $    114,644.00       79%        3,034        $    38
Cobblestone HPR                46/75 & 47/77   46254    2   0    97    $      167,780.00   $      129,900.00   $    123,000.00       73%        2,363        $    52
Eagle Cove                         41/71       46254    2   0    114   $      149,450.00   $      140,800.00   $    113,000.00       76%        2,350        $    48
Gateway Townhouse                  40/60       46254    2   4    110   $       39,400.00   $       29,800.00   $     14,090.00       36%        2,304        $     6
Golden Woods                       92/27       46268    2   0    80    $      222,900.00   $      189,900.00   $    175,000.00       79%        2,898        $    60
Parkside At Georgetown HPR         50/48       46254    2   5    188   $      129,900.00   $      114,900.00   $     91,500.00       70%        2,562        $    36
The Village At Eagle Creek         43/72       46254    2   2    85    $      124,800.00   $       94,800.00   $     93,550.00       75%        1,986        $    47
Bridgefield Villas HPR             68/47       46254    1   0    209   $      132,000.00   $      120,000.00   $    114,900.00       87%        1,494        $    77
Crooked Creek Condos               82/39       46268    1   3    88    $       65,000.00   $       52,000.00   $     35,860.00       55%        1,087        $    33
Gerogetown Crossing                71/51       46268    1   0    81    $       68,000.00   $       55,000.00   $     41,120.00       60%        1,260        $    33
Lake Forest HPR                    91/28       46268    1   0     9    $      111,900.00   $      111,900.00   $    111,900.00      100%        2,608        $    43
North Pointe Bay                   96/26       46268    1   0    45    $      110,900.00   $      105,900.00   $    103,500.00       93%        1,694        $    61
Sonoma                             40/69       46254    1   0    237   $       90,000.00   $       50,900.00   $     48,500.00       54%        1,079        $    45
Waterbury Condominiums             96/28       46268    1   1    30    $       68,900.00   $       64,900.00   $     60,220.00       87%        1,472        $    41
Wildwood Homes                     49/49       46268    1   1    102   $       52,000.00   $       47,000.00   $     28,875.00       56%        1,106        $    26

Totals - Condos                                        79        101   $ 5,922,016.00      $ 5,110,895.00      $ 4,539,875.00       77%         103,798      $    44

By Total Sold 2008
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At      % of Orig.     Total       Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total      List Price   Square Ft.    Per SF
Houses                                         2008 2007

Liberty Creek/North/Village       56/56        46254   20   12   58    $    2,002,900.00   $    1,870,800.00   $   1,753,374.00     88%         33,277       $    53
Gateway West                      40/60        46254   19   10   76    $      886,350.00   $      755,450.00   $     640,449.00     72%         22,916       $    28
Lakeside Manor                    53/53        46254   15   18   61    $    1,442,400.00   $    1,387,100.00   $   1,273,254.00     88%         26,560       $    48
Crooked Creek Villages            71/35        46268   14   11   61    $    1,776,250.00   $    1,693,650.00   $   1,583,300.00     89%         29,059       $    54
Eagle Trace Village               43/39        46254   13   16   89    $    1,065,800.00   $    1,028,700.00   $     947,233.00     89%         21,225       $    45
No Legal Community                                     10    8   73    $      884,900.00   $      735,500.00   $     657,094.00     74%         15,278       $    43
Robertson Village              41/38 & 40/38   46228   10    9   103   $      900,500.00   $      712,300.00   $     669,050.00     74%         15,987       $    42
Coventry Woods                 52/47 & 52/46   46254    8    2   124   $      479,500.00   $      399,250.00   $     343,800.00     72%         9,481        $    36
Crooked Creek Heights          81/38 & 79/37   46268    8    4   77    $      850,500.00   $      766,500.00   $     706,408.00     83%         13,300       $    53
Westchester Estates            80/33 & 79/31   46268    8    2   123   $      673,300.00   $      563,300.00   $     531,910.00     79%         11,450       $    46
Bayswater At Eagle Creek           47/67       46254    7    6   123   $      567,000.00   $      492,600.00   $     461,900.00     81%         9,590        $    48
Moller Village                     45/55       46254    6    4   127   $      424,500.00   $      322,640.00   $     292,188.00     69%         9,935        $    29
Stratford Glen                     62/58       46254    6    1   67    $      586,900.00   $      545,800.00   $     505,000.00     86%         8,602        $    59
Brookfield Village                 46/45       46254    5    2   83    $      459,000.00   $      431,000.00   $     361,312.00     79%         7,895        $    46
Cooper Pointe                      62/28       46268    5   14   46    $      408,550.00   $      380,300.00   $     361,340.00     88%         6,140        $    59
Branch Creek at Pike               79/37       46268    4    0   68    $      613,600.00   $      583,600.00   $     565,401.00     92%         8,677        $    65
Saddlebrook                        56/37       46228    4    0   46    $      735,600.00   $      710,600.00   $     673,900.00     92%         9,623        $    70
Wedgewood                          43/63       46254    4    7   85    $      264,300.00   $      228,900.00   $     206,300.00     78%         5,492        $    38
Worthington At West 86th           86/68       46278    4    0   124   $    1,525,800.00   $    1,392,800.00   $   1,270,900.00     83%         12,728       $   100
Augusta Crossing                   72/44       46268    3    1   51    $      296,900.00   $      282,900.00   $     270,901.00     91%         4,941        $    55
Chestnut Hills                 73/64 & 75/64   46278    3    0   126   $      554,700.00   $      504,700.00   $     493,400.00     89%         7,893        $    63
Eagles Watch                       46/70       46254    3    1   14    $      292,400.00   $      292,400.00   $     275,000.00     94%         4,632        $    59
Hawthornes                         91/86       46278    3    3   39    $      582,800.00   $      566,700.00   $     554,900.00     95%         8,803        $    63
Morningside                        52/31       46228    3    5   171   $      293,900.00   $      248,700.00   $     227,800.00     78%         5,963        $    38
The Highlands at Eagle Creek       42/71       46254    3    0   117   $      275,700.00   $      231,800.00   $     234,800.00     85%         4,490        $    52
Westover                           79/42       46268    3    0   101   $      247,900.00   $      212,700.00   $     192,000.00     77%         4,467        $    43
Augusta Heights                    48/29       46268    2    0   226   $       90,200.00   $       55,200.00   $      40,200.00     45%         2,425        $    17


         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor www.LivingInPike.com
                                                                                                                                                  Page 9




By Total Sold 2008
Community                       Coordinates Zip Total Total Avg.           Orgin List         List Price At   Sale Price At     % of Orig.     Total       Avg $$$
                                North/West Code Sold Sold DOM             Price - Total       Close - Total   Close - Total     List Price   Square Ft.    Per SF
Houses                                          2008 2007

Deer Creek                        56/51      46254    2     3   21    $      309,800.00   $      304,800.00   $   291,000.00       94%         4,423       $    66
Falcon Lakes                      52/37      46227    2     5   37    $      229,000.00   $      229,000.00   $   215,000.00       94%         4,033       $    53
Falcon Run Village                46/56      46254    2     1   71    $      135,000.00   $      130,000.00   $   119,818.00       89%         2,862       $    42
Falcons Nest                      52/58      46254    2     4   109   $      200,900.00   $      182,900.00   $   168,000.00       84%         3,928       $    43
Guion Pointe                      45/41      46254    2     1   48    $      207,900.00   $      191,900.00   $   183,490.00       88%         3,748       $    49
Lantern Park                      46/59      46254    2     1   106   $      134,800.00   $      129,400.00   $   117,900.00       87%         3,966       $    30
Legendary Hills                   71/56      46268    2     1   96    $      198,800.00   $      157,800.00   $   156,000.00       78%         3,613       $    43
Lincolnwood                       40/91      46234    2     0   62    $      297,900.00   $      264,900.00   $   229,203.00       77%         4,954       $    46
Northpoint Village                81/33      46268    2     0   96    $      251,400.00   $      219,800.00   $   210,300.00       84%         3,478       $    60
The Gardens At Eagle Creek        56/51      46254    2     3   143   $      184,800.00   $      144,800.00   $   139,800.00       76%         2,656       $    53
The Gardens North                 56/50      46254    2     1   61    $      161,800.00   $      144,800.00   $   138,999.00       86%         2,103       $    66
The Preserve @ Eagle Creek        82/86      46278    2     0   47    $      995,900.00   $      979,400.00   $   954,500.00       96%         6,936       $   138
The Village At Eagles Landing     38/74      46254    2     0   160   $      199,900.00   $      159,900.00   $   163,000.00       82%         2,984       $    55
Wetherburn                        75/30      46268    2     3   23    $      180,300.00   $      180,300.00   $   161,800.00       90%         3,310       $    49
Augusta Green                     73/44      46268    1     2   10    $      110,000.00   $      110,000.00   $   108,250.00       98%         2,080       $    52
Augusta Park                      79/24      46268    1     0   26    $      172,000.00   $      172,000.00   $   145,000.00       84%         2,936       $    49
Augusta Proper                    73/40      46268    1     0   204   $      185,500.00   $      141,000.00   $   141,000.00       76%         3,056       $    46
Bay Landing                       56/78      46254    1     0    9    $      290,000.00   $      290,000.00   $   292,000.00      101%         3,132       $    93
Candlelite Village                62/33      46228    1     0   41    $       78,900.00   $       73,900.00   $    78,350.00       99%         1,252       $    63
Eagle Bay                         42/71      46254    1     2   66    $       84,900.00   $       74,900.00   $    75,000.00       88%         1,854       $    40
Faith Knoll                       62/31      46268    1     0   56    $      134,900.00   $      130,900.00   $   122,000.00       90%         2,528       $    48
Fieldstone At Twin Creeks         53/48      46268    1     1    1    $       76,900.00   $       76,900.00   $    76,300.00       99%         1,957       $    39
Georgetown Crossing               71/51      46268    1     3   70    $       89,900.00   $       79,900.00   $    79,900.00       89%         1,244       $    64
Gordon Acres                      81/66      46278    1     0   41    $      155,000.00   $      155,000.00   $   144,500.00       93%         2,096       $    69
Guion Lakes                       58/42      46254    1     0   60    $       84,000.00   $       84,000.00   $    77,500.00       92%         1,220       $    64
Halcyon Park                      79/35      46268    1     0   27    $       53,900.00   $       53,900.00   $    50,000.00       93%         1,191       $    42
Highlands Trail                   44/68      46254    1     2   61    $       80,000.00   $       72,000.00   $    56,000.00       70%         1,090       $    51
Hunters Green                     64/68      46278    1     0   55    $      154,900.00   $      150,000.00   $   143,000.00       92%         1,517       $    94
Michigan Road Gardens             66/25      46268    1     0   13    $       59,900.00   $       59,900.00   $    59,000.00       98%         1,622       $    36
Normandy Farms                    79/67      46278    1     1   46    $      275,000.00   $      275,000.00   $   269,900.00       98%         3,781       $    71
Oakforge Lakes/Woods              60/50      46254    1     4   53    $       95,900.00   $       95,900.00   $    97,000.00      101%         1,792       $    54
Phillips Carlon                   64/67      46278    1     1    1    $       42,900.00   $       42,900.00   $    37,000.00       86%         1,760       $    21
Pyramid Pointe                    91/33      46268    1     0   84    $      132,500.00   $      124,900.00   $   130,000.00       98%         1,584       $    82
Quail Ridge                       64/56      46278    1     1   46    $       85,000.00   $       80,000.00   $    64,008.00       75%         1,957       $    33
Shadow Pointe                     47/42      46254    1     1   150   $      129,900.00   $      129,900.00   $   127,500.00       98%         2,178       $    59
Sunset At Eagle Creek             42/68      46254    1     1   56    $       69,900.00   $       58,000.00   $    58,900.00       84%          887        $    66
Watersedge                        86/68      46278    1     0   101   $      549,900.00   $      480,000.00   $   448,000.00       81%         4,560       $    98
Wilshire Glen                     38/90      46234    1     0   62    $       84,000.00   $       76,000.00   $    62,800.00       75%         1,377       $    46
Wolfington On Kessler             44/43      46228    1     0   118   $      124,900.00   $      104,900.00   $   105,000.00       84%         2,218       $    47
Wood Creek                        52/52      46254    1     2   81    $      119,900.00   $      107,300.00   $   103,000.00       86%         1,842       $    56
Woodland Place                    46/56      46254    1     2   150   $       74,900.00   $       65,000.00   $    55,000.00       73%         1,425       $    39

Total - Houses                                       248        77    $ 26,465,750.00     $ 24,179,690.00     $ 22,547,832.00     85%         427,959      $    53




         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor www.LivingInPike.com
                                                                                                                                                 Page 10




By Days on Market
Community                       Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total      Avg $$$
                                North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.   Per SF
Condos                                          2008 2007

Sonoma                              40/69       46254    1   0    237   $       90,000.00   $       50,900.00   $    48,500.00      54%        1,079       $    45
Bridgefield Villas HPR              68/47       46254    1   0    209   $      132,000.00   $      120,000.00   $   114,900.00      87%        1,494       $    77
Parkside At Georgetown HPR          50/48       46254    2   5    188   $      129,900.00   $      114,900.00   $    91,500.00      70%        2,562       $    36
Villas Of Oakbrook                  60/49       46254    3   0    136   $      144,899.00   $      118,649.00   $   114,644.00      79%        3,034       $    38
Whitehall Commons                   47/47       46254    4   4    129   $      213,800.00   $      162,800.00   $   139,900.00      65%        4,206       $    33
6500 Georgetown HPR                 68/50       46268    7   9    125   $      567,820.00   $      492,900.00   $   411,700.00      73%        9,090       $    45
Bishops Pond HPR                    63/48       46268   11   1    118   $      996,400.00   $      786,200.00   $   739,305.00      74%        15,745      $    47
Eagle Cove                          41/71       46254    2   0    114   $      149,450.00   $      140,800.00   $   113,000.00      76%        2,350       $    48
Gateway Townhouse                   40/60       46254    2   4    110   $       39,400.00   $       29,800.00   $    14,090.00      36%        2,304       $     6
Wildwood Homes                      49/49       46268    1   1    102   $       52,000.00   $       47,000.00   $    28,875.00      56%        1,106       $    26
Hidden Bay                          86/82       46254    4   2    98    $      285,900.00   $      259,900.00   $   219,050.00      77%        5,788       $    38
Cobblestone HPR                 46/75 & 47/77   46254    2   0    97    $      167,780.00   $      129,900.00   $   123,000.00      73%        2,363       $    52
North Willow Woods                  95/24       46268    3   1    88    $      270,677.00   $      241,777.00   $   218,078.00      81%        4,710       $    46
Crooked Creek Condos                82/39       46268    1   3    88    $       65,000.00   $       52,000.00   $    35,860.00      55%        1,087       $    33
The Village At Eagle Creek          43/72       46254    2   2    85    $      124,800.00   $       94,800.00   $    93,550.00      75%        1,986       $    47
Lafayette Villas HPR                57/60       46254    5   3    84    $      340,900.00   $      309,699.00   $   278,500.00      82%        6,059       $    46
Hidden Creek HPR                    86/82       46278    3   2    83    $      214,540.00   $      206,920.00   $   183,500.00      86%        3,224       $    57
Gerogetown Crossing                 71/51       46268    1   0    81    $       68,000.00   $       55,000.00   $    41,120.00      60%        1,260       $    33
Golden Woods                        92/27       46268    2   0    80    $      222,900.00   $      189,900.00   $   175,000.00      79%        2,898       $    60
Westhaven Commons HPR               54/48       46254   12   8    79    $      756,750.00   $      691,850.00   $   640,451.00      85%        14,904      $    43
Guion Creek Woods                   56/44       46254    3   1    62    $      271,000.00   $      242,000.00   $   194,720.00      72%        4,697       $    41
Arbor Village                       45/41       46254    4   1    59    $      326,400.00   $      290,500.00   $   245,012.00      75%        6,078       $    40
North Pointe Bay                    96/26       46268    1   0    45    $      110,900.00   $      105,900.00   $   103,500.00      93%        1,694       $    61
Waterbury Condominiums              96/28       46268    1   1    30    $       68,900.00   $       64,900.00   $    60,220.00      87%        1,472       $    41
Lake Forest HPR                     91/28       46268    1   0     9    $      111,900.00   $      111,900.00   $   111,900.00     100%        2,608       $    43

Totals - Condos                                         79        101   $ 5,922,016.00      $ 5,110,895.00      $ 4,539,875.00     77%         103,798     $    44

By Days On Market
Community                       Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total      Avg $$$
                                North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.   Per SF
Houses                                          2008 2007

Augusta Heights                     48/29       46268    2    0   226   $    90,200.00      $    55,200.00      $    40,200.00     45%         2,425       $    17
Augusta Proper                      73/40       46268    1    0   204   $   185,500.00      $   141,000.00      $   141,000.00     76%         3,056       $    46
Morningside                         52/31       46228    3    5   171   $   293,900.00      $   248,700.00      $   227,800.00     78%         5,963       $    38
The Village At Eagles Landing       38/74       46254    2    0   160   $   199,900.00      $   159,900.00      $   163,000.00     82%         2,984       $    55
Shadow Pointe                       47/42       46254    1    1   150   $   129,900.00      $   129,900.00      $   127,500.00     98%         2,178       $    59
Woodland Place                      46/56       46254    1    2   150   $    74,900.00      $    65,000.00      $    55,000.00     73%         1,425       $    39
The Gardens At Eagle Creek          56/51       46254    2    3   143   $   184,800.00      $   144,800.00      $   139,800.00     76%         2,656       $    53
Moller Village                      45/55       46254    6    4   127   $   424,500.00      $   322,640.00      $   292,188.00     69%         9,935       $    29
Chestnut Hills                  73/64 & 75/64   46278    3    0   126   $   554,700.00      $   504,700.00      $   493,400.00     89%         7,893       $    63
Coventry Woods                  52/47 & 52/46   46254    8    2   124   $   479,500.00      $   399,250.00      $   343,800.00     72%         9,481       $    36
Worthington At West 86th            86/68       46278    4    0   124   $ 1,525,800.00      $ 1,392,800.00      $ 1,270,900.00     83%         12,728      $   100
Westchester Estates             80/33 & 79/31   46268    8    2   123   $   673,300.00      $   563,300.00      $   531,910.00     79%         11,450      $    46
Bayswater At Eagle Creek            47/67       46254    7    6   123   $   567,000.00      $   492,600.00      $   461,900.00     81%         9,590       $    48
Wolfington On Kessler               44/43       46228    1    0   118   $   124,900.00      $   104,900.00      $   105,000.00     84%         2,218       $    47
The Highlands at Eagle Creek        42/71       46254    3    0   117   $   275,700.00      $   231,800.00      $   234,800.00     85%         4,490       $    52
Falcons Nest                        52/58       46254    2    4   109   $   200,900.00      $   182,900.00      $   168,000.00     84%         3,928       $    43
Lantern Park                        46/59       46254    2    1   106   $   134,800.00      $   129,400.00      $   117,900.00     87%         3,966       $    30
Robertson Village               41/38 & 40/38   46228   10    9   103   $   900,500.00      $   712,300.00      $   669,050.00     74%         15,987      $    42
Westover                            79/42       46268    3    0   101   $   247,900.00      $   212,700.00      $   192,000.00     77%         4,467       $    43
Watersedge                          86/68       46278    1    0   101   $   549,900.00      $   480,000.00      $   448,000.00     81%         4,560       $    98
Legendary Hills                     71/56       46268    2    1   96    $   198,800.00      $   157,800.00      $   156,000.00     78%         3,613       $    43
Northpoint Village                  81/33       46268    2    0   96    $   251,400.00      $   219,800.00      $   210,300.00     84%         3,478       $    60
Eagle Trace Village                 43/39       46254   13   16   89    $ 1,065,800.00      $ 1,028,700.00      $   947,233.00     89%         21,225      $    45
Wedgewood                           43/63       46254    4    7   85    $   264,300.00      $   228,900.00      $   206,300.00     78%         5,492       $    38
Pyramid Pointe                      91/33       46268    1    0   84    $   132,500.00      $   124,900.00      $   130,000.00     98%         1,584       $    82
Brookfield Village                  46/45       46254    5    2   83    $   459,000.00      $   431,000.00      $   361,312.00     79%         7,895       $    46
Wood Creek                          52/52       46254    1    2   81    $   119,900.00      $   107,300.00      $   103,000.00     86%         1,842       $    56


         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                            Page 11




By Days On Market
Community                      Coordinates Zip Total Total Avg.         Orgin List       List Price At    Sale Price At     % of Orig.     Total      Avg $$$
                               North/West Code Sold Sold DOM           Price - Total     Close - Total    Close - Total     List Price   Square Ft.   Per SF
Houses                                         2008 2007

Crooked Creek Heights         81/38 & 79/37 46268     8      4   77   $   850,500.00    $   766,500.00    $   706,408.00       83%        13,300      $    53
Gateway West                      40/60     46254    19     10   76   $   886,350.00    $   755,450.00    $   640,449.00       72%        22,916      $    28
No Legal Community                                   10      8   73   $   884,900.00    $   735,500.00    $   657,094.00       74%        15,278      $    43
Falcon Run Village                46/56      46254    2      1   71   $   135,000.00    $   130,000.00    $   119,818.00       89%        2,862       $    42
Georgetown Crossing               71/51      46268    1      3   70   $    89,900.00    $    79,900.00    $    79,900.00       89%        1,244       $    64
Branch Creek at Pike              79/37      46268    4      0   68   $   613,600.00    $   583,600.00    $   565,401.00       92%        8,677       $    65
Stratford Glen                    62/58      46254    6      1   67   $   586,900.00    $   545,800.00    $   505,000.00       86%        8,602       $    59
Eagle Bay                         42/71      46254    1      2   66   $    84,900.00    $    74,900.00    $    75,000.00       88%        1,854       $    40
Lincolnwood                       40/91      46234    2      0   62   $   297,900.00    $   264,900.00    $   229,203.00       77%        4,954       $    46
Wilshire Glen                     38/90      46234    1      0   62   $    84,000.00    $    76,000.00    $    62,800.00       75%        1,377       $    46
Lakeside Manor                    53/53      46254   15     18   61   $ 1,442,400.00    $ 1,387,100.00    $ 1,273,254.00       88%        26,560      $    48
Crooked Creek Villages            71/35      46268   14     11   61   $ 1,776,250.00    $ 1,693,650.00    $ 1,583,300.00       89%        29,059      $    54
The Gardens North                 56/50      46254    2      1   61   $   161,800.00    $   144,800.00    $   138,999.00       86%        2,103       $    66
Highlands Trail                   44/68      46254    1      2   61   $    80,000.00    $    72,000.00    $    56,000.00       70%        1,090       $    51
Guion Lakes                       58/42      46254    1      0   60   $    84,000.00    $    84,000.00    $    77,500.00       92%        1,220       $    64
Liberty Creek/North/Village       56/56      46254   20     12   58   $ 2,002,900.00    $ 1,870,800.00    $ 1,753,374.00       88%        33,277      $    53
Faith Knoll                       62/31      46268    1      0   56   $   134,900.00    $   130,900.00    $   122,000.00       90%        2,528       $    48
Sunset At Eagle Creek             42/68      46254    1      1   56   $    69,900.00    $    58,000.00    $    58,900.00       84%         887        $    66
Hunters Green                     64/68      46278    1      0   55   $   154,900.00    $   150,000.00    $   143,000.00       92%        1,517       $    94
Oakforge Lakes/Woods              60/50      46254    1      4   53   $    95,900.00    $    95,900.00    $    97,000.00      101%        1,792       $    54
Augusta Crossing                  72/44      46268    3      1   51   $   296,900.00    $   282,900.00    $   270,901.00       91%        4,941       $    55
Guion Pointe                      45/41      46254    2      1   48   $   207,900.00    $   191,900.00    $   183,490.00       88%        3,748       $    49
The Preserve @ Eagle Creek        82/86      46278    2      0   47   $   995,900.00    $   979,400.00    $   954,500.00       96%        6,936       $   138
Cooper Pointe                     62/28      46268    5     14   46   $   408,550.00    $   380,300.00    $   361,340.00       88%        6,140       $    59
Saddlebrook                       56/37      46228    4      0   46   $   735,600.00    $   710,600.00    $   673,900.00       92%        9,623       $    70
Normandy Farms                    79/67      46278    1      1   46   $   275,000.00    $   275,000.00    $   269,900.00       98%        3,781       $    71
Quail Ridge                       64/56      46278    1      1   46   $    85,000.00    $    80,000.00    $    64,008.00       75%        1,957       $    33
Candlelite Village                62/33      46228    1      0   41   $    78,900.00    $    73,900.00    $    78,350.00       99%        1,252       $    63
Gordon Acres                      81/66      46278    1      0   41   $   155,000.00    $   155,000.00    $   144,500.00       93%        2,096       $    69
Hawthornes                        91/86      46278    3      3   39   $   582,800.00    $   566,700.00    $   554,900.00       95%        8,803       $    63
Falcon Lakes                      52/37      46227    2      5   37   $   229,000.00    $   229,000.00    $   215,000.00       94%        4,033       $    53
Halcyon Park                      79/35      46268    1      0   27   $    53,900.00    $    53,900.00    $    50,000.00       93%        1,191       $    42
Augusta Park                      79/24      46268    1      0   26   $   172,000.00    $   172,000.00    $   145,000.00       84%        2,936       $    49
Wetherburn                        75/30      46268    2      3   23   $   180,300.00    $   180,300.00    $   161,800.00       90%        3,310       $    49
Deer Creek                        56/51      46254    2      3   21   $   309,800.00    $   304,800.00    $   291,000.00       94%        4,423       $    66
Eagles Watch                      46/70      46254    3      1   14   $   292,400.00    $   292,400.00    $   275,000.00       94%        4,632       $    59
Michigan Road Gardens             66/25      46268    1      0   13   $    59,900.00    $    59,900.00    $    59,000.00       98%        1,622       $    36
Augusta Green                     73/44      46268    1      2   10   $   110,000.00    $   110,000.00    $   108,250.00       98%        2,080       $    52
Bay Landing                       56/78      46254    1      0    9   $   290,000.00    $   290,000.00    $   292,000.00      101%        3,132       $    93
Fieldstone At Twin Creeks         53/48      46268    1      1    1   $    76,900.00    $    76,900.00    $    76,300.00       99%        1,957       $    39
Phillips Carlon                   64/67      46278    1      1    1   $    42,900.00    $    42,900.00    $    37,000.00       86%        1,760       $    21

Total - Houses                                       248         77   $ 26,465,750.00   $ 24,179,690.00   $ 22,547,832.00     85%         427,959     $    53




         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                  Page 12




By Total Sale Price
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At      % of Orig.     Total      Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total      List Price   Square Ft.   Per SF
Condos                                         2008 2007

Bishops Pond HPR                  63/48       46268   11    1    118   $      996,400.00   $      786,200.00   $    739,305.00       74%        15,745      $    47
Westhaven Commons HPR             54/48       46254   12    8    79    $      756,750.00   $      691,850.00   $    640,451.00       85%        14,904      $    43
6500 Georgetown HPR               68/50       46268    7    9    125   $      567,820.00   $      492,900.00   $    411,700.00       73%        9,090       $    45
Lafayette Villas HPR              57/60       46254    5    3    84    $      340,900.00   $      309,699.00   $    278,500.00       82%        6,059       $    46
Arbor Village                     45/41       46254    4    1    59    $      326,400.00   $      290,500.00   $    245,012.00       75%        6,078       $    40
Hidden Bay                        86/82       46254    4    2    98    $      285,900.00   $      259,900.00   $    219,050.00       77%        5,788       $    38
North Willow Woods                95/24       46268    3    1    88    $      270,677.00   $      241,777.00   $    218,078.00       81%        4,710       $    46
Guion Creek Woods                 56/44       46254    3    1    62    $      271,000.00   $      242,000.00   $    194,720.00       72%        4,697       $    41
Hidden Creek HPR                  86/82       46278    3    2    83    $      214,540.00   $      206,920.00   $    183,500.00       86%        3,224       $    57
Golden Woods                      92/27       46268    2    0    80    $      222,900.00   $      189,900.00   $    175,000.00       79%        2,898       $    60
Whitehall Commons                 47/47       46254    4    4    129   $      213,800.00   $      162,800.00   $    139,900.00       65%        4,206       $    33
Cobblestone HPR               46/75 & 47/77   46254    2    0    97    $      167,780.00   $      129,900.00   $    123,000.00       73%        2,363       $    52
Bridgefield Villas HPR            68/47       46254    1    0    209   $      132,000.00   $      120,000.00   $    114,900.00       87%        1,494       $    77
Villas Of Oakbrook                60/49       46254    3    0    136   $      144,899.00   $      118,649.00   $    114,644.00       79%        3,034       $    38
Eagle Cove                        41/71       46254    2    0    114   $      149,450.00   $      140,800.00   $    113,000.00       76%        2,350       $    48
Lake Forest HPR                   91/28       46268    1    0     9    $      111,900.00   $      111,900.00   $    111,900.00      100%        2,608       $    43
North Pointe Bay                  96/26       46268    1    0    45    $      110,900.00   $      105,900.00   $    103,500.00       93%        1,694       $    61
The Village At Eagle Creek        43/72       46254    2    2    85    $      124,800.00   $       94,800.00   $     93,550.00       75%        1,986       $    47
Parkside At Georgetown HPR        50/48       46254    2    5    188   $      129,900.00   $      114,900.00   $     91,500.00       70%        2,562       $    36
Waterbury Condominiums            96/28       46268    1    1    30    $       68,900.00   $       64,900.00   $     60,220.00       87%        1,472       $    41
Sonoma                            40/69       46254    1    0    237   $       90,000.00   $       50,900.00   $     48,500.00       54%        1,079       $    45
Gerogetown Crossing               71/51       46268    1    0    81    $       68,000.00   $       55,000.00   $     41,120.00       60%        1,260       $    33
Crooked Creek Condos              82/39       46268    1    3    88    $       65,000.00   $       52,000.00   $     35,860.00       55%        1,087       $    33
Wildwood Homes                    49/49       46268    1    1    102   $       52,000.00   $       47,000.00   $     28,875.00       56%        1,106       $    26
Gateway Townhouse                 40/60       46254    2    4    110   $       39,400.00   $       29,800.00   $     14,090.00       36%        2,304       $     6

Totals - Condos                                       79         101   $ 5,922,016.00      $ 5,110,895.00      $ 4,539,875.00       77%         103,798     $    44

By Total Sale Price
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At      % of Orig.     Total      Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total      List Price   Square Ft.   Per SF
Houses                                         2008 2007

Liberty Creek/North/Village       56/56       46254   20    12   58    $    2,002,900.00   $    1,870,800.00   $   1,753,374.00      88%        33,277      $    53
Crooked Creek Villages            71/35       46268   14    11   61    $    1,776,250.00   $    1,693,650.00   $   1,583,300.00      89%        29,059      $    54
Lakeside Manor                    53/53       46254   15    18   61    $    1,442,400.00   $    1,387,100.00   $   1,273,254.00      88%        26,560      $    48
Worthington At West 86th          86/68       46278    4     0   124   $    1,525,800.00   $    1,392,800.00   $   1,270,900.00      83%        12,728      $   100
The Preserve @ Eagle Creek        82/86       46278    2     0   47    $      995,900.00   $      979,400.00   $     954,500.00      96%        6,936       $   138
Eagle Trace Village               43/39       46254   13    16   89    $    1,065,800.00   $    1,028,700.00   $     947,233.00      89%        21,225      $    45
Crooked Creek Heights         81/38 & 79/37   46268    8     4   77    $      850,500.00   $      766,500.00   $     706,408.00      83%        13,300      $    53
Saddlebrook                       56/37       46228    4     0   46    $      735,600.00   $      710,600.00   $     673,900.00      92%        9,623       $    70
Robertson Village             41/38 & 40/38   46228   10     9   103   $      900,500.00   $      712,300.00   $     669,050.00      74%        15,987      $    42
No Legal Community                                    10     8   73    $      884,900.00   $      735,500.00   $     657,094.00      74%        15,278      $    43
Gateway West                      40/60       46254   19    10   76    $      886,350.00   $      755,450.00   $     640,449.00      72%        22,916      $    28
Branch Creek at Pike              79/37       46268    4     0   68    $      613,600.00   $      583,600.00   $     565,401.00      92%        8,677       $    65
Hawthornes                        91/86       46278    3     3   39    $      582,800.00   $      566,700.00   $     554,900.00      95%        8,803       $    63
Westchester Estates           80/33 & 79/31   46268    8     2   123   $      673,300.00   $      563,300.00   $     531,910.00      79%        11,450      $    46
Stratford Glen                    62/58       46254    6     1   67    $      586,900.00   $      545,800.00   $     505,000.00      86%        8,602       $    59
Chestnut Hills                73/64 & 75/64   46278    3     0   126   $      554,700.00   $      504,700.00   $     493,400.00      89%        7,893       $    63
Bayswater At Eagle Creek          47/67       46254    7     6   123   $      567,000.00   $      492,600.00   $     461,900.00      81%        9,590       $    48
Watersedge                        86/68       46278    1     0   101   $      549,900.00   $      480,000.00   $     448,000.00      81%        4,560       $    98
Cooper Pointe                     62/28       46268    5    14   46    $      408,550.00   $      380,300.00   $     361,340.00      88%        6,140       $    59
Brookfield Village                46/45       46254    5     2   83    $      459,000.00   $      431,000.00   $     361,312.00      79%        7,895       $    46
Coventry Woods                52/47 & 52/46   46254    8     2   124   $      479,500.00   $      399,250.00   $     343,800.00      72%        9,481       $    36
Moller Village                    45/55       46254    6     4   127   $      424,500.00   $      322,640.00   $     292,188.00      69%        9,935       $    29
Bay Landing                       56/78       46254    1     0    9    $      290,000.00   $      290,000.00   $     292,000.00     101%        3,132       $    93
Deer Creek                        56/51       46254    2     3   21    $      309,800.00   $      304,800.00   $     291,000.00      94%        4,423       $    66
Eagles Watch                      46/70       46254    3     1   14    $      292,400.00   $      292,400.00   $     275,000.00      94%        4,632       $    59
Augusta Crossing                  72/44       46268    3     1   51    $      296,900.00   $      282,900.00   $     270,901.00      91%        4,941       $    55
Normandy Farms                    79/67       46278    1     1   46    $      275,000.00   $      275,000.00   $     269,900.00      98%        3,781       $    71


         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                Page 13




By Total Sale Price
Community                       Coordinates Zip Total Total Avg.           Orgin List         List Price At   Sale Price At     % of Orig.     Total      Avg $$$
                                North/West Code Sold Sold DOM             Price - Total       Close - Total   Close - Total     List Price   Square Ft.   Per SF
Houses                                          2008 2007

The Highlands at Eagle Creek      42/71      46254    3     0   117   $      275,700.00   $      231,800.00   $   234,800.00       85%         4,490      $    52
Lincolnwood                       40/91      46234    2     0   62    $      297,900.00   $      264,900.00   $   229,203.00       77%         4,954      $    46
Morningside                       52/31      46228    3     5   171   $      293,900.00   $      248,700.00   $   227,800.00       78%         5,963      $    38
Falcon Lakes                      52/37      46227    2     5   37    $      229,000.00   $      229,000.00   $   215,000.00       94%         4,033      $    53
Northpoint Village                81/33      46268    2     0   96    $      251,400.00   $      219,800.00   $   210,300.00       84%         3,478      $    60
Wedgewood                         43/63      46254    4     7   85    $      264,300.00   $      228,900.00   $   206,300.00       78%         5,492      $    38
Westover                          79/42      46268    3     0   101   $      247,900.00   $      212,700.00   $   192,000.00       77%         4,467      $    43
Guion Pointe                      45/41      46254    2     1   48    $      207,900.00   $      191,900.00   $   183,490.00       88%         3,748      $    49
Falcons Nest                      52/58      46254    2     4   109   $      200,900.00   $      182,900.00   $   168,000.00       84%         3,928      $    43
The Village At Eagles Landing     38/74      46254    2     0   160   $      199,900.00   $      159,900.00   $   163,000.00       82%         2,984      $    55
Wetherburn                        75/30      46268    2     3   23    $      180,300.00   $      180,300.00   $   161,800.00       90%         3,310      $    49
Legendary Hills                   71/56      46268    2     1   96    $      198,800.00   $      157,800.00   $   156,000.00       78%         3,613      $    43
Augusta Park                      79/24      46268    1     0   26    $      172,000.00   $      172,000.00   $   145,000.00       84%         2,936      $    49
Gordon Acres                      81/66      46278    1     0   41    $      155,000.00   $      155,000.00   $   144,500.00       93%         2,096      $    69
Hunters Green                     64/68      46278    1     0   55    $      154,900.00   $      150,000.00   $   143,000.00       92%         1,517      $    94
Augusta Proper                    73/40      46268    1     0   204   $      185,500.00   $      141,000.00   $   141,000.00       76%         3,056      $    46
The Gardens At Eagle Creek        56/51      46254    2     3   143   $      184,800.00   $      144,800.00   $   139,800.00       76%         2,656      $    53
The Gardens North                 56/50      46254    2     1   61    $      161,800.00   $      144,800.00   $   138,999.00       86%         2,103      $    66
Pyramid Pointe                    91/33      46268    1     0   84    $      132,500.00   $      124,900.00   $   130,000.00       98%         1,584      $    82
Shadow Pointe                     47/42      46254    1     1   150   $      129,900.00   $      129,900.00   $   127,500.00       98%         2,178      $    59
Faith Knoll                       62/31      46268    1     0   56    $      134,900.00   $      130,900.00   $   122,000.00       90%         2,528      $    48
Falcon Run Village                46/56      46254    2     1   71    $      135,000.00   $      130,000.00   $   119,818.00       89%         2,862      $    42
Lantern Park                      46/59      46254    2     1   106   $      134,800.00   $      129,400.00   $   117,900.00       87%         3,966      $    30
Augusta Green                     73/44      46268    1     2   10    $      110,000.00   $      110,000.00   $   108,250.00       98%         2,080      $    52
Wolfington On Kessler             44/43      46228    1     0   118   $      124,900.00   $      104,900.00   $   105,000.00       84%         2,218      $    47
Wood Creek                        52/52      46254    1     2   81    $      119,900.00   $      107,300.00   $   103,000.00       86%         1,842      $    56
Oakforge Lakes/Woods              60/50      46254    1     4   53    $       95,900.00   $       95,900.00   $    97,000.00      101%         1,792      $    54
Georgetown Crossing               71/51      46268    1     3   70    $       89,900.00   $       79,900.00   $    79,900.00       89%         1,244      $    64
Candlelite Village                62/33      46228    1     0   41    $       78,900.00   $       73,900.00   $    78,350.00       99%         1,252      $    63
Guion Lakes                       58/42      46254    1     0   60    $       84,000.00   $       84,000.00   $    77,500.00       92%         1,220      $    64
Fieldstone At Twin Creeks         53/48      46268    1     1    1    $       76,900.00   $       76,900.00   $    76,300.00       99%         1,957      $    39
Eagle Bay                         42/71      46254    1     2   66    $       84,900.00   $       74,900.00   $    75,000.00       88%         1,854      $    40
Quail Ridge                       64/56      46278    1     1   46    $       85,000.00   $       80,000.00   $    64,008.00       75%         1,957      $    33
Wilshire Glen                     38/90      46234    1     0   62    $       84,000.00   $       76,000.00   $    62,800.00       75%         1,377      $    46
Michigan Road Gardens             66/25      46268    1     0   13    $       59,900.00   $       59,900.00   $    59,000.00       98%         1,622      $    36
Sunset At Eagle Creek             42/68      46254    1     1   56    $       69,900.00   $       58,000.00   $    58,900.00       84%          887       $    66
Highlands Trail                   44/68      46254    1     2   61    $       80,000.00   $       72,000.00   $    56,000.00       70%         1,090      $    51
Woodland Place                    46/56      46254    1     2   150   $       74,900.00   $       65,000.00   $    55,000.00       73%         1,425      $    39
Halcyon Park                      79/35      46268    1     0   27    $       53,900.00   $       53,900.00   $    50,000.00       93%         1,191      $    42
Augusta Heights                   48/29      46268    2     0   226   $       90,200.00   $       55,200.00   $    40,200.00       45%         2,425      $    17
Phillips Carlon                   64/67      46278    1     1    1    $       42,900.00   $       42,900.00   $    37,000.00       86%         1,760      $    21

Total - Houses                                       248        77    $ 26,465,750.00     $ 24,179,690.00     $ 22,547,832.00     85%         427,959     $    53




         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                Page 14




By % Of Original List Price
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total      Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.   Per SF
Condos                                         2008 2007

Lake Forest HPR                   91/28       46268    1    0     9    $      111,900.00   $      111,900.00   $   111,900.00     100%        2,608       $    43
North Pointe Bay                  96/26       46268    1    0    45    $      110,900.00   $      105,900.00   $   103,500.00      93%        1,694       $    61
Waterbury Condominiums            96/28       46268    1    1    30    $       68,900.00   $       64,900.00   $    60,220.00      87%        1,472       $    41
Bridgefield Villas HPR            68/47       46254    1    0    209   $      132,000.00   $      120,000.00   $   114,900.00      87%        1,494       $    77
Hidden Creek HPR                  86/82       46278    3    2    83    $      214,540.00   $      206,920.00   $   183,500.00      86%        3,224       $    57
Westhaven Commons HPR             54/48       46254   12    8    79    $      756,750.00   $      691,850.00   $   640,451.00      85%        14,904      $    43
Lafayette Villas HPR              57/60       46254    5    3    84    $      340,900.00   $      309,699.00   $   278,500.00      82%        6,059       $    46
North Willow Woods                95/24       46268    3    1    88    $      270,677.00   $      241,777.00   $   218,078.00      81%        4,710       $    46
Villas Of Oakbrook                60/49       46254    3    0    136   $      144,899.00   $      118,649.00   $   114,644.00      79%        3,034       $    38
Golden Woods                      92/27       46268    2    0    80    $      222,900.00   $      189,900.00   $   175,000.00      79%        2,898       $    60
Hidden Bay                        86/82       46254    4    2    98    $      285,900.00   $      259,900.00   $   219,050.00      77%        5,788       $    38
Eagle Cove                        41/71       46254    2    0    114   $      149,450.00   $      140,800.00   $   113,000.00      76%        2,350       $    48
Arbor Village                     45/41       46254    4    1    59    $      326,400.00   $      290,500.00   $   245,012.00      75%        6,078       $    40
The Village At Eagle Creek        43/72       46254    2    2    85    $      124,800.00   $       94,800.00   $    93,550.00      75%        1,986       $    47
Bishops Pond HPR                  63/48       46268   11    1    118   $      996,400.00   $      786,200.00   $   739,305.00      74%        15,745      $    47
Cobblestone HPR               46/75 & 47/77   46254    2    0    97    $      167,780.00   $      129,900.00   $   123,000.00      73%        2,363       $    52
6500 Georgetown HPR               68/50       46268    7    9    125   $      567,820.00   $      492,900.00   $   411,700.00      73%        9,090       $    45
Guion Creek Woods                 56/44       46254    3    1    62    $      271,000.00   $      242,000.00   $   194,720.00      72%        4,697       $    41
Parkside At Georgetown HPR        50/48       46254    2    5    188   $      129,900.00   $      114,900.00   $    91,500.00      70%        2,562       $    36
Whitehall Commons                 47/47       46254    4    4    129   $      213,800.00   $      162,800.00   $   139,900.00      65%        4,206       $    33
Gerogetown Crossing               71/51       46268    1    0    81    $       68,000.00   $       55,000.00   $    41,120.00      60%        1,260       $    33
Wildwood Homes                    49/49       46268    1    1    102   $       52,000.00   $       47,000.00   $    28,875.00      56%        1,106       $    26
Crooked Creek Condos              82/39       46268    1    3    88    $       65,000.00   $       52,000.00   $    35,860.00      55%        1,087       $    33
Sonoma                            40/69       46254    1    0    237   $       90,000.00   $       50,900.00   $    48,500.00      54%        1,079       $    45
Gateway Townhouse                 40/60       46254    2    4    110   $       39,400.00   $       29,800.00   $    14,090.00      36%        2,304       $     6

Totals - Condos                                       79         101   $ 5,922,016.00      $ 5,110,895.00      $ 4,539,875.00     77%         103,798     $    44

By % Of Original List Price
Community                      Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total      Avg $$$
                               North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.   Per SF
Houses                                         2008 2007

Oakforge Lakes/Woods              60/50       46254    1     4   53    $    95,900.00      $    95,900.00      $    97,000.00     101%        1,792       $    54
Bay Landing                       56/78       46254    1     0    9    $   290,000.00      $   290,000.00      $   292,000.00     101%        3,132       $    93
Candlelite Village                62/33       46228    1     0   41    $    78,900.00      $    73,900.00      $    78,350.00      99%        1,252       $    63
Fieldstone At Twin Creeks         53/48       46268    1     1    1    $    76,900.00      $    76,900.00      $    76,300.00      99%        1,957       $    39
Michigan Road Gardens             66/25       46268    1     0   13    $    59,900.00      $    59,900.00      $    59,000.00      98%        1,622       $    36
Augusta Green                     73/44       46268    1     2   10    $   110,000.00      $   110,000.00      $   108,250.00      98%        2,080       $    52
Shadow Pointe                     47/42       46254    1     1   150   $   129,900.00      $   129,900.00      $   127,500.00      98%        2,178       $    59
Normandy Farms                    79/67       46278    1     1   46    $   275,000.00      $   275,000.00      $   269,900.00      98%        3,781       $    71
Pyramid Pointe                    91/33       46268    1     0   84    $   132,500.00      $   124,900.00      $   130,000.00      98%        1,584       $    82
The Preserve @ Eagle Creek        82/86       46278    2     0   47    $   995,900.00      $   979,400.00      $   954,500.00      96%        6,936       $   138
Hawthornes                        91/86       46278    3     3   39    $   582,800.00      $   566,700.00      $   554,900.00      95%        8,803       $    63
Eagles Watch                      46/70       46254    3     1   14    $   292,400.00      $   292,400.00      $   275,000.00      94%        4,632       $    59
Deer Creek                        56/51       46254    2     3   21    $   309,800.00      $   304,800.00      $   291,000.00      94%        4,423       $    66
Falcon Lakes                      52/37       46227    2     5   37    $   229,000.00      $   229,000.00      $   215,000.00      94%        4,033       $    53
Gordon Acres                      81/66       46278    1     0   41    $   155,000.00      $   155,000.00      $   144,500.00      93%        2,096       $    69
Halcyon Park                      79/35       46268    1     0   27    $    53,900.00      $    53,900.00      $    50,000.00      93%        1,191       $    42
Hunters Green                     64/68       46278    1     0   55    $   154,900.00      $   150,000.00      $   143,000.00      92%        1,517       $    94
Guion Lakes                       58/42       46254    1     0   60    $    84,000.00      $    84,000.00      $    77,500.00      92%        1,220       $    64
Branch Creek at Pike              79/37       46268    4     0   68    $   613,600.00      $   583,600.00      $   565,401.00      92%        8,677       $    65
Saddlebrook                       56/37       46228    4     0   46    $   735,600.00      $   710,600.00      $   673,900.00      92%        9,623       $    70
Augusta Crossing                  72/44       46268    3     1   51    $   296,900.00      $   282,900.00      $   270,901.00      91%        4,941       $    55
Faith Knoll                       62/31       46268    1     0   56    $   134,900.00      $   130,900.00      $   122,000.00      90%        2,528       $    48
Wetherburn                        75/30       46268    2     3   23    $   180,300.00      $   180,300.00      $   161,800.00      90%        3,310       $    49
Crooked Creek Villages            71/35       46268   14    11   61    $ 1,776,250.00      $ 1,693,650.00      $ 1,583,300.00      89%        29,059      $    54
Chestnut Hills                73/64 & 75/64   46278    3     0   126   $   554,700.00      $   504,700.00      $   493,400.00      89%        7,893       $    63
Georgetown Crossing               71/51       46268    1     3   70    $    89,900.00      $    79,900.00      $    79,900.00      89%        1,244       $    64
Eagle Trace Village               43/39       46254   13    16   89    $ 1,065,800.00      $ 1,028,700.00      $   947,233.00      89%        21,225      $    45


         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                               Page 15




By % Of Original List Price
Community                       Coordinates Zip Total Total Avg.           Orgin List       List Price At    Sale Price At     % of Orig.     Total      Avg $$$
                                North/West Code Sold Sold DOM             Price - Total     Close - Total    Close - Total     List Price   Square Ft.   Per SF
Houses                                          2008 2007

Falcon Run Village                  46/56       46254    2     1   71    $   135,000.00    $   130,000.00    $   119,818.00      89%         2,862       $    42
Cooper Pointe                       62/28       46268    5    14   46    $   408,550.00    $   380,300.00    $   361,340.00      88%         6,140       $    59
Eagle Bay                           42/71       46254    1     2   66    $    84,900.00    $    74,900.00    $    75,000.00      88%         1,854       $    40
Lakeside Manor                      53/53       46254   15    18   61    $ 1,442,400.00    $ 1,387,100.00    $ 1,273,254.00      88%         26,560      $    48
Guion Pointe                        45/41       46254    2     1   48    $   207,900.00    $   191,900.00    $   183,490.00      88%         3,748       $    49
Liberty Creek/North/Village         56/56       46254   20    12   58    $ 2,002,900.00    $ 1,870,800.00    $ 1,753,374.00      88%         33,277      $    53
Lantern Park                        46/59       46254    2     1   106   $   134,800.00    $   129,400.00    $   117,900.00      87%         3,966       $    30
Phillips Carlon                     64/67       46278    1     1    1    $    42,900.00    $    42,900.00    $    37,000.00      86%         1,760       $    21
Stratford Glen                      62/58       46254    6     1   67    $   586,900.00    $   545,800.00    $   505,000.00      86%         8,602       $    59
The Gardens North                   56/50       46254    2     1   61    $   161,800.00    $   144,800.00    $   138,999.00      86%         2,103       $    66
Wood Creek                          52/52       46254    1     2   81    $   119,900.00    $   107,300.00    $   103,000.00      86%         1,842       $    56
The Highlands at Eagle Creek        42/71       46254    3     0   117   $   275,700.00    $   231,800.00    $   234,800.00      85%         4,490       $    52
Augusta Park                        79/24       46268    1     0   26    $   172,000.00    $   172,000.00    $   145,000.00      84%         2,936       $    49
Sunset At Eagle Creek               42/68       46254    1     1   56    $    69,900.00    $    58,000.00    $    58,900.00      84%          887        $    66
Wolfington On Kessler               44/43       46228    1     0   118   $   124,900.00    $   104,900.00    $   105,000.00      84%         2,218       $    47
Northpoint Village                  81/33       46268    2     0   96    $   251,400.00    $   219,800.00    $   210,300.00      84%         3,478       $    60
Falcons Nest                        52/58       46254    2     4   109   $   200,900.00    $   182,900.00    $   168,000.00      84%         3,928       $    43
Worthington At West 86th            86/68       46278    4     0   124   $ 1,525,800.00    $ 1,392,800.00    $ 1,270,900.00      83%         12,728      $   100
Crooked Creek Heights           81/38 & 79/37   46268    8     4   77    $   850,500.00    $   766,500.00    $   706,408.00      83%         13,300      $    53
The Village At Eagles Landing       38/74       46254    2     0   160   $   199,900.00    $   159,900.00    $   163,000.00      82%         2,984       $    55
Watersedge                          86/68       46278    1     0   101   $   549,900.00    $   480,000.00    $   448,000.00      81%         4,560       $    98
Bayswater At Eagle Creek            47/67       46254    7     6   123   $   567,000.00    $   492,600.00    $   461,900.00      81%         9,590       $    48
Westchester Estates             80/33 & 79/31   46268    8     2   123   $   673,300.00    $   563,300.00    $   531,910.00      79%         11,450      $    46
Brookfield Village                  46/45       46254    5     2   83    $   459,000.00    $   431,000.00    $   361,312.00      79%         7,895       $    46
Legendary Hills                     71/56       46268    2     1   96    $   198,800.00    $   157,800.00    $   156,000.00      78%         3,613       $    43
Wedgewood                           43/63       46254    4     7   85    $   264,300.00    $   228,900.00    $   206,300.00      78%         5,492       $    38
Morningside                         52/31       46228    3     5   171   $   293,900.00    $   248,700.00    $   227,800.00      78%         5,963       $    38
Westover                            79/42       46268    3     0   101   $   247,900.00    $   212,700.00    $   192,000.00      77%         4,467       $    43
Lincolnwood                         40/91       46234    2     0   62    $   297,900.00    $   264,900.00    $   229,203.00      77%         4,954       $    46
Augusta Proper                      73/40       46268    1     0   204   $   185,500.00    $   141,000.00    $   141,000.00      76%         3,056       $    46
The Gardens At Eagle Creek          56/51       46254    2     3   143   $   184,800.00    $   144,800.00    $   139,800.00      76%         2,656       $    53
Quail Ridge                         64/56       46278    1     1   46    $    85,000.00    $    80,000.00    $    64,008.00      75%         1,957       $    33
Wilshire Glen                       38/90       46234    1     0   62    $    84,000.00    $    76,000.00    $    62,800.00      75%         1,377       $    46
Robertson Village               41/38 & 40/38   46228   10     9   103   $   900,500.00    $   712,300.00    $   669,050.00      74%         15,987      $    42
No Legal Community                                      10     8   73    $   884,900.00    $   735,500.00    $   657,094.00      74%         15,278      $    43
Woodland Place                      46/56       46254    1     2   150   $    74,900.00    $    65,000.00    $    55,000.00      73%         1,425       $    39
Gateway West                        40/60       46254   19    10   76    $   886,350.00    $   755,450.00    $   640,449.00      72%         22,916      $    28
Coventry Woods                  52/47 & 52/46   46254    8     2   124   $   479,500.00    $   399,250.00    $   343,800.00      72%         9,481       $    36
Highlands Trail                     44/68       46254    1     2   61    $    80,000.00    $    72,000.00    $    56,000.00      70%         1,090       $    51
Moller Village                      45/55       46254    6     4   127   $   424,500.00    $   322,640.00    $   292,188.00      69%         9,935       $    29
Augusta Heights                     48/29       46268    2     0   226   $    90,200.00    $    55,200.00    $    40,200.00      45%         2,425       $    17

Total - Houses                                          248        77    $ 26,465,750.00   $ 24,179,690.00   $ 22,547,832.00     85%         427,959     $    53




         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                 Page 16




By Average $ Per Square Foot
Community                       Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total      Avg $$$
                                North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.   Per SF
Condos                                          2008 2007

Bridgefield Villas HPR              68/47       46254    1   0    209   $      132,000.00   $      120,000.00   $   114,900.00      87%        1,494       $    77
North Pointe Bay                    96/26       46268    1   0    45    $      110,900.00   $      105,900.00   $   103,500.00      93%        1,694       $    61
Golden Woods                        92/27       46268    2   0    80    $      222,900.00   $      189,900.00   $   175,000.00      79%        2,898       $    60
Hidden Creek HPR                    86/82       46278    3   2    83    $      214,540.00   $      206,920.00   $   183,500.00      86%        3,224       $    57
Cobblestone HPR                 46/75 & 47/77   46254    2   0    97    $      167,780.00   $      129,900.00   $   123,000.00      73%        2,363       $    52
Eagle Cove                          41/71       46254    2   0    114   $      149,450.00   $      140,800.00   $   113,000.00      76%        2,350       $    48
The Village At Eagle Creek          43/72       46254    2   2    85    $      124,800.00   $       94,800.00   $    93,550.00      75%        1,986       $    47
Bishops Pond HPR                    63/48       46268   11   1    118   $      996,400.00   $      786,200.00   $   739,305.00      74%        15,745      $    47
North Willow Woods                  95/24       46268    3   1    88    $      270,677.00   $      241,777.00   $   218,078.00      81%        4,710       $    46
Lafayette Villas HPR                57/60       46254    5   3    84    $      340,900.00   $      309,699.00   $   278,500.00      82%        6,059       $    46
6500 Georgetown HPR                 68/50       46268    7   9    125   $      567,820.00   $      492,900.00   $   411,700.00      73%        9,090       $    45
Sonoma                              40/69       46254    1   0    237   $       90,000.00   $       50,900.00   $    48,500.00      54%        1,079       $    45
Westhaven Commons HPR               54/48       46254   12   8    79    $      756,750.00   $      691,850.00   $   640,451.00      85%        14,904      $    43
Lake Forest HPR                     91/28       46268    1   0     9    $      111,900.00   $      111,900.00   $   111,900.00     100%        2,608       $    43
Guion Creek Woods                   56/44       46254    3   1    62    $      271,000.00   $      242,000.00   $   194,720.00      72%        4,697       $    41
Waterbury Condominiums              96/28       46268    1   1    30    $       68,900.00   $       64,900.00   $    60,220.00      87%        1,472       $    41
Arbor Village                       45/41       46254    4   1    59    $      326,400.00   $      290,500.00   $   245,012.00      75%        6,078       $    40
Hidden Bay                          86/82       46254    4   2    98    $      285,900.00   $      259,900.00   $   219,050.00      77%        5,788       $    38
Villas Of Oakbrook                  60/49       46254    3   0    136   $      144,899.00   $      118,649.00   $   114,644.00      79%        3,034       $    38
Parkside At Georgetown HPR          50/48       46254    2   5    188   $      129,900.00   $      114,900.00   $    91,500.00      70%        2,562       $    36
Whitehall Commons                   47/47       46254    4   4    129   $      213,800.00   $      162,800.00   $   139,900.00      65%        4,206       $    33
Crooked Creek Condos                82/39       46268    1   3    88    $       65,000.00   $       52,000.00   $    35,860.00      55%        1,087       $    33
Gerogetown Crossing                 71/51       46268    1   0    81    $       68,000.00   $       55,000.00   $    41,120.00      60%        1,260       $    33
Wildwood Homes                      49/49       46268    1   1    102   $       52,000.00   $       47,000.00   $    28,875.00      56%        1,106       $    26
Gateway Townhouse                   40/60       46254    2   4    110   $       39,400.00   $       29,800.00   $    14,090.00      36%        2,304       $     6

Totals - Condos                                         79        101   $ 5,922,016.00      $ 5,110,895.00      $ 4,539,875.00     77%         103,798     $    44

By Average $ Per Square Foot
Community                       Coordinates Zip Total Total Avg.             Orgin List         List Price At   Sale Price At    % of Orig.     Total      Avg $$$
                                North/West Code Sold Sold DOM               Price - Total       Close - Total   Close - Total    List Price   Square Ft.   Per SF
Houses                                          2008 2007

The Preserve @ Eagle Creek          82/86       46278   2     0   47    $   995,900.00      $   979,400.00      $   954,500.00      96%        6,936       $   138
Worthington At West 86th            86/68       46278   4     0   124   $ 1,525,800.00      $ 1,392,800.00      $ 1,270,900.00      83%        12,728      $   100
Watersedge                          86/68       46278   1     0   101   $   549,900.00      $   480,000.00      $   448,000.00      81%        4,560       $    98
Hunters Green                       64/68       46278   1     0   55    $   154,900.00      $   150,000.00      $   143,000.00      92%        1,517       $    94
Bay Landing                         56/78       46254   1     0    9    $   290,000.00      $   290,000.00      $   292,000.00     101%        3,132       $    93
Pyramid Pointe                      91/33       46268   1     0   84    $   132,500.00      $   124,900.00      $   130,000.00      98%        1,584       $    82
Normandy Farms                      79/67       46278   1     1   46    $   275,000.00      $   275,000.00      $   269,900.00      98%        3,781       $    71
Saddlebrook                         56/37       46228   4     0   46    $   735,600.00      $   710,600.00      $   673,900.00      92%        9,623       $    70
Gordon Acres                        81/66       46278   1     0   41    $   155,000.00      $   155,000.00      $   144,500.00      93%        2,096       $    69
Sunset At Eagle Creek               42/68       46254   1     1   56    $    69,900.00      $    58,000.00      $    58,900.00      84%         887        $    66
The Gardens North                   56/50       46254   2     1   61    $   161,800.00      $   144,800.00      $   138,999.00      86%        2,103       $    66
Deer Creek                          56/51       46254   2     3   21    $   309,800.00      $   304,800.00      $   291,000.00      94%        4,423       $    66
Branch Creek at Pike                79/37       46268   4     0   68    $   613,600.00      $   583,600.00      $   565,401.00      92%        8,677       $    65
Georgetown Crossing                 71/51       46268   1     3   70    $    89,900.00      $    79,900.00      $    79,900.00      89%        1,244       $    64
Guion Lakes                         58/42       46254   1     0   60    $    84,000.00      $    84,000.00      $    77,500.00      92%        1,220       $    64
Hawthornes                          91/86       46278   3     3   39    $   582,800.00      $   566,700.00      $   554,900.00      95%        8,803       $    63
Candlelite Village                  62/33       46228   1     0   41    $    78,900.00      $    73,900.00      $    78,350.00      99%        1,252       $    63
Chestnut Hills                  73/64 & 75/64   46278   3     0   126   $   554,700.00      $   504,700.00      $   493,400.00      89%        7,893       $    63
Northpoint Village                  81/33       46268   2     0   96    $   251,400.00      $   219,800.00      $   210,300.00      84%        3,478       $    60
Eagles Watch                        46/70       46254   3     1   14    $   292,400.00      $   292,400.00      $   275,000.00      94%        4,632       $    59
Cooper Pointe                       62/28       46268   5    14   46    $   408,550.00      $   380,300.00      $   361,340.00      88%        6,140       $    59
Stratford Glen                      62/58       46254   6     1   67    $   586,900.00      $   545,800.00      $   505,000.00      86%        8,602       $    59
Shadow Pointe                       47/42       46254   1     1   150   $   129,900.00      $   129,900.00      $   127,500.00      98%        2,178       $    59
Wood Creek                          52/52       46254   1     2   81    $   119,900.00      $   107,300.00      $   103,000.00      86%        1,842       $    56
Augusta Crossing                    72/44       46268   3     1   51    $   296,900.00      $   282,900.00      $   270,901.00      91%        4,941       $    55
The Village At Eagles Landing       38/74       46254   2     0   160   $   199,900.00      $   159,900.00      $   163,000.00      82%        2,984       $    55


         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                  Page 17




By Average $ Per Square Foot
Community                      Coordinates Zip Total Total Avg.              Orgin List         List Price At   Sale Price At     % of Orig.     Total      Avg $$$
                               North/West Code Sold Sold DOM                Price - Total       Close - Total   Close - Total     List Price   Square Ft.   Per SF
Houses                                         2008 2007

Crooked Creek Villages             71/35       46268   14    11   61    $    1,776,250.00   $    1,693,650.00   $ 1,583,300.00       89%        29,059      $    54
Oakforge Lakes/Woods               60/50       46254    1     4   53    $       95,900.00   $       95,900.00   $    97,000.00      101%        1,792       $    54
Falcon Lakes                       52/37       46227    2     5   37    $      229,000.00   $      229,000.00   $   215,000.00       94%        4,033       $    53
Crooked Creek Heights          81/38 & 79/37   46268    8     4   77    $      850,500.00   $      766,500.00   $   706,408.00       83%        13,300      $    53
Liberty Creek/North/Village        56/56       46254   20    12   58    $    2,002,900.00   $    1,870,800.00   $ 1,753,374.00       88%        33,277      $    53
The Gardens At Eagle Creek         56/51       46254    2     3   143   $      184,800.00   $      144,800.00   $   139,800.00       76%        2,656       $    53
The Highlands at Eagle Creek       42/71       46254    3     0   117   $      275,700.00   $      231,800.00   $   234,800.00       85%        4,490       $    52
Augusta Green                      73/44       46268    1     2   10    $      110,000.00   $      110,000.00   $   108,250.00       98%        2,080       $    52
Highlands Trail                    44/68       46254    1     2   61    $       80,000.00   $       72,000.00   $    56,000.00       70%        1,090       $    51
Augusta Park                       79/24       46268    1     0   26    $      172,000.00   $      172,000.00   $   145,000.00       84%        2,936       $    49
Guion Pointe                       45/41       46254    2     1   48    $      207,900.00   $      191,900.00   $   183,490.00       88%        3,748       $    49
Wetherburn                         75/30       46268    2     3   23    $      180,300.00   $      180,300.00   $   161,800.00       90%        3,310       $    49
Faith Knoll                        62/31       46268    1     0   56    $      134,900.00   $      130,900.00   $   122,000.00       90%        2,528       $    48
Bayswater At Eagle Creek           47/67       46254    7     6   123   $      567,000.00   $      492,600.00   $   461,900.00       81%        9,590       $    48
Lakeside Manor                     53/53       46254   15    18   61    $    1,442,400.00   $    1,387,100.00   $ 1,273,254.00       88%        26,560      $    48
Wolfington On Kessler              44/43       46228    1     0   118   $      124,900.00   $      104,900.00   $   105,000.00       84%        2,218       $    47
Westchester Estates            80/33 & 79/31   46268    8     2   123   $      673,300.00   $      563,300.00   $   531,910.00       79%        11,450      $    46
Lincolnwood                        40/91       46234    2     0   62    $      297,900.00   $      264,900.00   $   229,203.00       77%        4,954       $    46
Augusta Proper                     73/40       46268    1     0   204   $      185,500.00   $      141,000.00   $   141,000.00       76%        3,056       $    46
Brookfield Village                 46/45       46254    5     2   83    $      459,000.00   $      431,000.00   $   361,312.00       79%        7,895       $    46
Wilshire Glen                      38/90       46234    1     0   62    $       84,000.00   $       76,000.00   $    62,800.00       75%        1,377       $    46
Eagle Trace Village                43/39       46254   13    16   89    $    1,065,800.00   $    1,028,700.00   $   947,233.00       89%        21,225      $    45
Legendary Hills                    71/56       46268    2     1   96    $      198,800.00   $      157,800.00   $   156,000.00       78%        3,613       $    43
No Legal Community                                     10     8   73    $      884,900.00   $      735,500.00   $   657,094.00       74%        15,278      $    43
Westover                           79/42       46268    3     0   101   $      247,900.00   $      212,700.00   $   192,000.00       77%        4,467       $    43
Falcons Nest                       52/58       46254    2     4   109   $      200,900.00   $      182,900.00   $   168,000.00       84%        3,928       $    43
Halcyon Park                       79/35       46268    1     0   27    $       53,900.00   $       53,900.00   $    50,000.00       93%        1,191       $    42
Falcon Run Village                 46/56       46254    2     1   71    $      135,000.00   $      130,000.00   $   119,818.00       89%        2,862       $    42
Robertson Village              41/38 & 40/38   46228   10     9   103   $      900,500.00   $      712,300.00   $   669,050.00       74%        15,987      $    42
Eagle Bay                          42/71       46254    1     2   66    $       84,900.00   $       74,900.00   $    75,000.00       88%        1,854       $    40
Fieldstone At Twin Creeks          53/48       46268    1     1    1    $       76,900.00   $       76,900.00   $    76,300.00       99%        1,957       $    39
Woodland Place                     46/56       46254    1     2   150   $       74,900.00   $       65,000.00   $    55,000.00       73%        1,425       $    39
Morningside                        52/31       46228    3     5   171   $      293,900.00   $      248,700.00   $   227,800.00       78%        5,963       $    38
Wedgewood                          43/63       46254    4     7   85    $      264,300.00   $      228,900.00   $   206,300.00       78%        5,492       $    38
Michigan Road Gardens              66/25       46268    1     0   13    $       59,900.00   $       59,900.00   $    59,000.00       98%        1,622       $    36
Coventry Woods                 52/47 & 52/46   46254    8     2   124   $      479,500.00   $      399,250.00   $   343,800.00       72%        9,481       $    36
Quail Ridge                        64/56       46278    1     1   46    $       85,000.00   $       80,000.00   $    64,008.00       75%        1,957       $    33
Lantern Park                       46/59       46254    2     1   106   $      134,800.00   $      129,400.00   $   117,900.00       87%        3,966       $    30
Moller Village                     45/55       46254    6     4   127   $      424,500.00   $      322,640.00   $   292,188.00       69%        9,935       $    29
Gateway West                       40/60       46254   19    10   76    $      886,350.00   $      755,450.00   $   640,449.00       72%        22,916      $    28
Phillips Carlon                    64/67       46278    1     1    1    $       42,900.00   $       42,900.00   $    37,000.00       86%        1,760       $    21
Augusta Heights                    48/29       46268    2     0   226   $       90,200.00   $       55,200.00   $    40,200.00       45%        2,425       $    17

Total - Houses                                         248        77    $ 26,465,750.00     $ 24,179,690.00     $ 22,547,832.00     85%         427,959     $    53




         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                     Page 18



By Year Built
Condo's      Legal Description            Year Built   Condo's   Legal Description            Year Built

CND          Bishops Pond                   2005       CND       Hidden Bay                   1993
CND          Bishops Pond                   2005       CND       Hidden Creek                 1993
CND          Bishops Pond                   2005
CND          Bishops Pond                   2005       CND       Hidden Bay                   1992
CND          Bishops Pond                   2005
CND          Bishops Pond                   2005       CND       Hidden Bay                   1990
CND          Bishops Pond                   2005
CND          Bishops Pond                   2005       CND       The Village At Eagle Creek   1989
CND          Westhaven Commons              2005
CND          Westhaven Commons              2005       CND       Hidden Bay                   1988
CND          Westhaven Commons              2005
CND          Westhaven Commons              2005       CND       Cobblestone                  1987
                                                       CND       Eagle Cove                   1987
CND          6500 Georgetown                2004       CND       The Village At Eagle Creek   1987
CND          Bishops Pond                   2004
CND          Bishops Pond                   2004       CND       Eagle Cove                   1986
CND          Bishops Pond                   2004       CND       Sonoma                       1986
CND          Parkside At Georgetown         2004
CND          Westhaven Commons              2004       CND       Golden Woods                 1984
                                                       CND       North Willow Woods           1984
CND          6500 Georgetown                2003
CND          6500 Georgetown                2003       CND       Cobblestone                  1983
CND          6500 Georgetown                2003       CND       Georgetown Crossing          1983
CND          Parkside At Georgetown         2003       CND       Golden Woods                 1983
CND          Westhaven Commons              2003
CND          Westhaven Commons              2003       CND       North Willow Park            1982

CND          6500 Georgetown                2002       CND       North Pointe Bay             1981

CND          Westhaven Commons              2001       CND       North Willow Park            1980
CND          Westhaven Commons              2001
CND          Westhaven Commons              2001       CND       Wildwood                     1979
CND          Westhaven Commons              2001
CND          Westhaven Commons              2001       CND       Lake Forest                  1974
                                                       CND       Villas Of Oakbrook           1974
CND          6500 Georgetown                2000       CND       Waterbury Condominiums       1974
CND          6500 Georgetown                2000
CND          Bridgefield Villas             2000       CND       Whitehall Commons            1973
                                                       CND       Whitehall Commons            1973
CND          Guion Creek Woods              1999       CND       Whitehall Commons            1973
CND          Guion Creek Woods              1999       CND       Whitehall Commons            1973

CND          Guion Creek Woods              1998       CND       Crooked Creek                1972
                                                       CND       Villas Of Oakbrook           1972
CND          Lafayette Villas               1997       CND       Villas Of Oakbrook           1972

CND          Lafayette Villas               1996       CND       Gateway Townhouse            1969
CND          Lafayette Villas               1996
CND          Lafayette Villas               1996       CND       Gateway Townhouse            1964

CND          Hidden Creek                   1995
CND          Hidden Creek                   1995
CND          Lafayette Villas               1995


Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                                       Page 19



By Year Built

Houses       Legal Description            Year Built   Houses   Legal Description               Year Built

RES          Faith Knoll                    2007       RES      Brookfield Village              1999
                                                       RES      Brookfield Village              1999
RES          Northpoint Village             2006       RES      Brookfield Village              1999
RES          The Preserve @ Eagle Creek     2006       RES      Crooked Creek Villages          1999
                                                       RES      Crooked Creek Villages          1999
RES          Northpoint Village             2005       RES      Crooked Creek Villages          1999
                                                       RES      Deer Creek                      1999
RES          Hawthorne Meadows              2004       RES      Falcon Run Village              1999
RES          The Preserve @ Eagle Creek     2004       RES      Falcon Run Village              1999
                                                       RES      Guion Pointe                    1999
RES          Hawthorne Meadows              2003       RES      Hawthornes                      1999
                                                       RES      Lakeside Manor                  1999
RES          Eagle Trace Village            2002       RES      Lakeside Manor                  1999
RES          Eagle Trace Village            2002       RES      Lakeside Manor                  1999
                                                       RES      Lakeside Manor                  1999
RES          Augusta Crossing               2001       RES      Lakeside Manor                  1999
RES          Augusta Crossing               2001       RES      Lakeside Manor                  1999
RES          Crooked Creek Villages         2001       RES      Moller Village                  1999
RES          Eagle Trace Village            2001       RES      Moller Village                  1999
RES          Eagle Trace Village            2001       RES      Moller Village                  1999
RES          Eagle Trace Village            2001       RES      Moller Village                  1999
RES          Eagle Trace Village            2001       RES      Moller Village                  1999
RES          Eagle Trace Village            2001       RES      Moller Village                  1999
RES          Eagle Trace Village            2001       RES      Morningside                     1999
RES          Eagle Trace Village            2001
RES          Eagle Trace Village            2001       RES      Arbor Village                   1998
RES          Lakeside Manor                 2001       RES      Arbor Village                   1998
RES          Lakeside Manor                 2001       RES      Cooper Pointe                   1998
RES          Wetherburn                     2001       RES      Crooked Creek Villages          1998
RES          Wetherburn                     2001       RES      Crooked Creek Villages          1998
                                                       RES      Crooked Creek Villages          1998
RES          Augusta Crossing               2000       RES      Falcon Lakes                    1998
RES          Eagle Trace Village            2000       RES      Falcons Nest                    1998
RES          Eagle Trace Village            2000       RES      Lakeside Manor                  1998
RES          Eagle Trace Village            2000       RES      Lakeside Manor                  1998
RES          Falcon Run Village             2000       RES      Lakeside Manor                  1998
RES          Guion Pointe                   2000
RES          Lakeside Manor West            2000       RES      Bayswater                       1997
RES          Lakeside Manor West            2000       RES      Branch Creek                    1997
RES          Lakeside Manor West            2000       RES      Branch Creek                    1997
RES          Lakeside Manor West            2000       RES      Branch Creek                    1997
RES          Morningside                    2000       RES      Cooper Pointe                   1997
RES          Morningside                    2000       RES      Crooked Creek Villages          1997
RES          No Legal Community             2000       RES      Crooked Creek Villages          1997
                                                       RES      Crooked Creek Villaages         1997
RES          Arbor Village                  1999       RES      Falcons Nest                    1997
RES          Arbor Village                  1999       RES      Liberty Creek North             1997
RES          Augusta Proper                 1999       RES      Liberty Village                 1997
RES          Branch Creek                   1999       RES      The Village At Eagles Landing   1997
RES          Brookfield Village             1999       RES      The Village At Eagles Landing   1997
RES          Brookvield Village             1999       RES      Wood Creek                      1997




Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                                    Page 20



By Year Built

Houses       Legal Description            Year Built   Houses   Legal Description            Year Built

RES          Woodland Place                 1997       RES      Chestnut Hills               1992
RES          Worthington at west 86th       1997       RES      Chestnut Hills               1992
                                                       RES      Normandy Farms               1992
RES          Augusta Green                  1996       RES      Oakforge                     1992
RES          Bayswater                      1996       RES      Stratford Glen               1992
RES          Bayswater                      1996       RES      The Gardens North            1992
RES          Bayswater                      1996       RES      Watersedge                   1992
RES          Bayswater                      1996       RES      Worthington at West 86th     1992
RES          Bayswater                      1996
RES          Cooper Pointe                  1996       RES      Crooked Creek Heights        1991
RES          Crooked Creek Villages         1996       RES      Eagles Watch                 1991
RES          Crooked Creek Villages         1996       RES      Robertson Village            1991
RES          Liberty Creek North            1996       RES      The Gardens at Eagle Creek   1991
RES          Robertson Village              1996
RES          Saddlebrook                    1996       RES      Coventry Woods               1990
RES          Saddlebrook                    1996       RES      Deer Creek                   1990
                                                       RES      Guion Lakes                  1990
RES          Bayswater                      1995       RES      Liberty Creek North          1990
RES          Liberty Creek North            1995       RES      Liberty Creek North          1990
RES          Liberty Creek North            1995       RES      Liberty Creek North          1990
RES          Liberty Creek North            1995       RES      Robertson Village            1990
RES          Robertson Village              1995       RES      Robertson Village            1990
RES          Stratford Glen                 1995       RES      Shadow Pointe                1990
RES          Stratford Glen                 1995       RES      The Gardens at Eagle Creek   1990
RES          Worthington at West 86th       1995       RES      Wilshire Glen                1990
RES          Worthington at West 86th       1995
                                                       RES      Coventry Woods 2             1989
RES          Cooper Pointe                  1994       RES      Crook Creek Heights          1989
RES          Cooper Pointe                  1994       RES      Georgetown Crossing          1989
RES          Crooked Creek Villages         1994       RES      Liberty Creek North          1989
RES          Eagles Watch                   1994       RES      Liberty Creek                1989
RES          Eagles Watch                   1994       RES      Liberty Creek                1989
RES          Fieldstone                     1994
RES          Liberty Creek                  1994       RES      Crooked Creek Heights        1988
RES          Liberty Creek                  1994       RES      Crooked Creek Heights        1988
RES          Robertson Village              1994       RES      Highlands Trail              1988
RES          Stratford Glen                 1994       RES      Liberty Creek North          1988
RES          Stratford Glen                 1994       RES      Liberty Creek                1988
                                                       RES      Pyramid Pointe               1988
RES          Chestnut Hills                 1993       RES      Robertson Village            1988
RES          Crooked Creek Villages         1993       RES      Sunset at Eagle Creek        1988
RES          Hunters Green                  1993
RES          Robertson Village              1993       RES      Coventry Woods               1987
RES          Robertson Village              1993       RES      Coventry Woods               1987
RES          Robertson Village              1993       RES      Coventry Woods               1987
RES          Saddlebrook                    1993       RES      Coventry Woods               1987
RES          Saddlebrook                    1993       RES      Crooked Creek Heights        1987
RES          Stratford Glen                 1993       RES      Liberty Creek                1987
RES          The Gardens North              1993       RES      Liberty Creek                1987



By Year Built

Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                                 Page 21




Houses       Legal Description              Year Built   Houses   Legal Description       Year Built

RES          Eagle Bay                       1986        RES      Gateway West            1963
RES          Quail Ridge                     1986        RES      Gateway West            1963
                                                         RES      Phillips Carlon         1963
RES          Liberty Creek                   1985        RES      No Legal Community      1963

RES          Coventry Woods                  1984        RES      Gateway West            1962
RES          Coventry Woods                  1984        RES      Gateway West            1962
RES          Liberty Creek                   1984        RES      Gateway West            1962
RES          Lincolnwood                     1984        RES      Gateway West            1962
                                                         RES      Gateway West            1962
RES          Crooked Creek Heights           1983        RES      Gateway West            1962
RES          The Highlands at Eagle Creek    1983        RES      Gateway West            1962
RES          The Highlands at Eagle Creek    1983
RES          The Highlands at Eagle Creek    1983        RES      Candlelite Village      1961
                                                         RES      Halcyon Park            1961
RES          Crooked Creek Heights           1981        RES      Wolfington On Kessler   1961

RES          Crooked Creek Heights           1980        RES      Legendary Hills         1960
                                                         RES      Westchester Estates     1960
RES          Wedgewood                       1979        RES      Westchester Estates     1960
                                                         RES      Westover                1960
RES          Lantern Park                    1977
RES          Lantern Park                    1977        RES      Augusta Heights         1959
                                                         RES      No Legal Community      1959
RES          Lincolnwood                     1973        RES      Westchester Estates     1959
RES          Wedgewood                       1973        RES      Westchester Estates     1959
                                                         RES      Westchester Estates     1959
RES          Wedgewood                       1972        RES      Westchester Estates     1959
                                                         RES      Westchester Estates     1959
RES          Westchester Estates             1971
                                                         RES      Gordon Acres            1958
RES          Wedgewood                       1970        RES      Legendary Hills         1958

RES          Gateway West 3rd                1968        RES      Westover                1956
                                                         RES      Westover                1956
RES          Gateway West                    1967
RES          Gateway West                    1967        RES      No Legal Community      1954
RES          No Legal Community              1967
                                                         RES      No Legal Community      1953
RES          Gateway West                    1966
RES          Gateway West                    1966        RES      No Legal Community      1952
RES          No Legal Community              1966
                                                         RES      Michigan Road Gardens   1950
RES          Augusta Heights                 1965        RES      No legal Community      1950
RES          Gateway West                    1965
RES          Gateway West                    1965        RES      Augusta Park            1938

RES          Gateway West                    1964        RES      Bay Landing             1930

RES          Gateway West                    1963        RES      No Legal Community      1920
RES          Gateway West                    1963




Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                                        Page 22



Community Foreclosure History                                                                                 2008
HUD's, Bank Owned, VA's, Short Sales and Pre-Foreclosures.                                 2008 Total         Total
                                                                                          Community          Houses
Condos                          2008     2007     2006    2005   2004   2003   Total      Price Range         Sold


6500 Georgetown                  7         9       1         3    1      3      24      $27,500 - $79,000         12
Arbor Village                    4         6       11        1    9      5      36     $51,000 - $103,500         8
Bishops Pond                     11        1       0         0    0      0      12     $42,000 - $140,900         19
Bridgefield Villas               1         0       0         0    2      0      3      $100,000 - $135.000        4
Cobblestone                      2         0       3         0    0      0      5      $55,000 - $148,000         24
Crooked Creek Condos             1         3       2         0    0      1      7       $35,860 - $91,300         5
Eagle Cove                       2         0       2         2    1      0      7       $72,000 - $89,000         4
Gateway Townhomes                2         4       3         1    2      0      12      $5,090 - $19,000          12
Georgetown Crossing              1         0       0         0    0      0      1       $41,120 - $71,500         2
Golden Woods                     2         0       0         0    0      0      2       $85,000 - $90,000         2
Guion Creek Woods                3         1       1         7    7      4      23      $53,000 - $88,000         5
Hidden Bay                       4         3       5         1    0      1      14     $48,000 - $105,000         12
Hidden Creek                     3         2       1         0    0      1      7       $54,500 - $98,000         9
Lafayette Villas                 5         3       4         1    3      3      19      $50,000 - $83,000         10
Lake Forest                      1         0       0         0    1      0      2      $111,900 - $163,000        2
North Point Bay                  1         0       1         0    0      0      2      $74,900 - $122,000         8
North Willow Woods               3         1       1         0    0      0      5      $87,777 - $108,000         4
Parkside At Georgetown           2         5       1         0    0      0      8       $36,600 - $99,900         7
Sonoma                           1         0       0         0    0      0      1       $48,500 - $94,400         4
The Village at Eagle Creek       2         2       0         1    1      1      7       $41,450 - $67,000         8
Villas Of Oakbrook               3         0       1         0    1      0      5       $36,144 - $75,000         8
Waterbury                        1         1       1         1    0      0      4       $60,220 - $79,500         2
Westhaven Commons                12        8       4         4    1      0      29      $33,500 - $80,320         17
Whitehall Commons                4         4       3         2    1      1      15      $22,500 - $78,000         10
Wildwood Homes                   1         1       6         4    4      3      19          $28,875               1

Totals                           79       54       51      28    34     23     269                            199


                                                                                                              2008
                                                                                           2008 Total         Total
                                                                                          Community          Houses
Houses                          2008     2007     2006    2005   2004   2003   Total      Price Range         Sold


Augusta Crossing                  3        1       3       2      1      0      10      $88,800 - $92,000         3
Augusta Green                     1        2       6       7      1      2      19     $107,900 - $133,000        7
Augusta Heights                   2        0       2       0      0      0      4      $24,000 - $159,900         3
Augusta Park                      1        0       0       0      1      0      2           $145,000              1
Augusta Proper                    1        0       0       0      0      0      1      $140,000 - $141,500        3
Bay Landing                       1        0       0       0      0      0      1           $292,000              1
Bayswater at Eagle Creek          7        6       1       10     2      1      27     $52,900 - $117,000         14
Branch Creek at Pike              4        0       1       2      0      0      7      $123,900 - $190,000        8
Brookfield Village                5        2       5       5      2      3      22     $62,512 - $114,900         10
Candlelite Village                1        0       1       2      0      1      5      $63,800 - $118,000         6

         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                                                        Page 23



Community Foreclosure History                                                                                 2008
HUD's, Bank Owned, VA's, Short Sales and Pre-Foreclosures.                                 2008 Total         Total
                                                                                          Community          Houses
Houses                         2008    2007     2006    2005     2004   2003   Total      Price Range         Sold

Chestnut Hills                 3        0        0       2       0       0      5      $130,000 - 297,000         11
Cooper Pointe                  5        14       10      16      9       5      59     $48,000 - $111,990         13
Coventry Woods                 8        2        2       3       0       2      17     $28,000 - $108,900         12
Crooked Creek Heights          8        4        4       5       2       1      24     $67,000 - $210,000         46
Crooked Creek Villages         14       11       10      13      4       2      54     %80,000 - $190,000         34
Deer Creek                     2        3        0       2       1       1      9      $124,250 - $221,000        13
Eagle Bay                      1        2        0       0       1       0      4           $75,000                1
Eagle Trace Village            13       16       25      19      5       2      80     $50,250 - $118,500         26
Eagles Watch                   3        1        0       4       2       1      11     $75,000 - $135,900         15
Faith Knoll                    1        0        0       0       0       0      1           $122,000               1
Falcon Lakes                   2        5        4       4       1       1      17     $90,000 - $207,900         13
Falcon Run Village             2        1        3       3       0       0      9       $54,818 - $91,000          6
Falcons Nest                   2        4        0       4       2       1      13     $63,000 - $139,900         8
Fieldstone at Twin Creeks      1        1        2       1       0       0      5      $76,300 - $191,000         5
Gateway West                   19       10       13      12      10      5      69     $17,9000 - $99,900         32
Georgetown Crossing            1        3        3       0       2       0      9      $79,000 - $118,500         4
Gordon Acres                   1        0        0       1       0       0      2      $144,500 - $260,000        2
Guion Lakes                    1        0        4       4       3       0      12     $77,500 - $114,900         5
Guion Pointe                   2        1        1       4       0       0      8      $79,490 - $104,000         2
Halcyon Park                   1        0        0       0       0       0      1           $50,000                1
Hawthornes                     3        3        1       2       2       0      11     $173,000 - $314,900        10
Highland Trails                1        2        1       2       1       1      8           $112,900               1
Hunters Green                  1        0        0       0       0       0      1      $127,500 - $159,000        11
Lakeside Manor                 15       18       15      14      4       5      71     $58,500 - $140,000         35
Lantern Park                   2        1        0       0       0       0      3      $44,000 - $108,000         4
Legendary Hills                2        1        0       0       0       0      3      $71,000 - $134,900         5
Liberty Creek/North/Village    20       12       9       17      16      4      78     $50,000 - $145,500         49
Lincolnwood                    2        0        1       0       2       1      6      $108,251 - $287,500        6
Michigan Road Gardens          1        0        0       0       0       0      1           $59,000                1
Moller Village                 6        4        3       1       1       3      18      $33,112 - $82,500         8
Morningside                    3        5        9       11      3       1      32     $60,800 - $154,900         10
Normandy Farms                 1        1        1       1       1       1      6      $242,000 - $540,000        8
Northpoint Village             2        0        1       0       0       0      3      $104,995 - $153,325        6
Oakforge                       1        4        2       5       1       0      13     $84,000 - $153,500         13
Phillips Carlon                1        1        0       0       0       0      2           $37,000                1
No Legal Community             10                                               10     $22,000 - $231,250
Pyramid Pointe                 1         0       0           0    0      0      1      $130,000 - $164,400        2
Quail Ridge                    1         1       2           2    5      0      11     $64,008 - $129,900         10
Robertson Village              10        9       11          8    2      3      43     $43,000 - $129,000         19
Saddlebrook                    4         0       0           1    2      0      7      $119,000 - $252,500        18
Shadow Pointe                  1         1       0           1    1      2      6      $105,000 - $127,500        3
Stratford Glen                 6         1       6           3    3      1      20     $67,000 - $143,000         17
Sunset At Eagle Creek          1         1       1           1    0      0      4      $58,900 - $116,250         5
The Gardens At Eagle Creek     2         3       0           1    1      0      7      $59,900 - $116,500         5
The Gardens North              2         1       0           0    0      1      4       $68,000 - $70,999         2
The Highlands at Eagle Creek   3         0       2           2    0      0      7      $67,900 - $124,900         5

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                        Page 24



Community Foreclosure History                                                                                 2008
HUD's, Bank Owned, VA's, Short Sales and Pre-Foreclosures.                                 2008 Total         Total
                                                                                          Community          Houses
Houses                          2008     2007     2006    2005   2004   2003   Total      Price Range         Sold

The Preserve @ Eagle Creek        2        0       0         0    0      0      2      $254,000 - $556,000        8
The Village At Eagles Landing     2        0       0         0    0      1      3      $63,000 - $106,000         3
Watersedge                        1        0       0         0    0      0      1           $448,000              1
Wedgewood                         4        7       11        3    5      4      34     $30,500 - $102,000         11
Westchester Estates               8        2       2         1    2      0      15     $45,500 - $116,800         10
Westover                          3        0       0         0    1      0      4       $52,000 - $72,000         3
Wetherburn                        2        3       2         3    0      0      10      $75,000 - $91,000         3
Wilshire Glen                     1        0       0         0    0      0      1            $62.80                1
Wolfington On Kessler             1        0       1         1    0      0      3      $105,000 - $190,000        8
Wood Creek                        1        2       2         3    2      1      11     $103,000 - $130,000        3
Woodland Place                    1        2       1         1    1      0      6           $55,000               1
Worthington At West 86th          4        0       0         1    0      0      5      $289,000 - $635,000        7

Totals                          248       174     184      210   105    57     978                            619




         Foreclosure Study For Pike Township 2008 by Tim Lord
         www.TimLordRealtor.com www.LivingInPike.com
                                                                Condos




                                                                                           12/30/2008
                                                                                           12/16/2008
                                                                                           12/2/2008
                                                                                           11/18/2008
                                                                                           11/4/2008
                                                                                           10/21/2008
Condos - 2008 HUD's, Bank Owned,




                                                                                           10/7/2008
                                                                                           9/23/2008
   Pre-Foreclosures and VA's




                                                                                           9/9/2008
                                                                                           8/26/2008
                                                                                           8/12/2008

                                                                                                        Date Sold
                                                                                           7/29/2008
                                                                                           7/15/2008
                                                                                           7/1/2008
                                                                                           6/17/2008
                                                                                           6/3/2008
                                                                                           5/20/2008
                                                                                           5/6/2008
                                                                                           4/22/2008
                                                                                           4/8/2008
                                                                                           3/25/2008
                                                                                           3/11/2008
                                                                                           2/26/2008
                                                                                           2/12/2008
                                                                                           1/29/2008
                                                                                           1/15/2008
                                   125,000                                                 1/1/2008


                                             100,000

                                                       75,000

                                                                         50,000

                                                                                  25,000

                                                                                           0
                                                   Sold Prices
                                                                                               Houses




                                                                                                                                                                12/30/2008
                                                                                                                                                                12/16/2008
                                                                                                                                                                12/2/2008
                                                                                                                                                                11/18/2008
                                                                                                                                                                11/4/2008
Houses - 2008 HUD's, Bank Owned,




                                                                                                                                                                10/21/2008
                                                                                                                                                                10/7/2008
   Pre-Foreclosures and VA's




                                                                                                                                                                9/23/2008
                                                                                                                                                                9/9/2008
                                                                                                                                                                8/26/2008
                                                                                                                                                                8/12/2008
                                                                                                                                                                7/29/2008




                                                                                                                                                                             Date Sold
                                                                                                                                                                7/15/2008
                                                                                                                                                                7/1/2008
                                                                                                                                                                6/17/2008
                                                                                                                                                                6/3/2008
                                                                                                                                                                5/20/2008
                                                                                                                                                                5/6/2008
                                                                                                                                                                4/22/2008
                                                                                                                                                                4/8/2008
                                                                                                                                                                3/25/2008
                                                                                                                                                                3/11/2008
                                                                                                                                                                2/26/2008
                                                                                                                                                                2/12/2008
                                                                                                                                                                1/29/2008
                                                                                                                                                                1/15/2008
                                                                                                                                                                1/1/2008

                                   600,000
                                             550,000
                                                       500,000
                                                                 450,000
                                                                           400,000
                                                                                     350,000
                                                                                                 300,000
                                                                                                           250,000
                                                                                                                     200,000
                                                                                                                               150,000
                                                                                                                                         100,000
                                                                                                                                                   50,000
                                                                                                                                                            0
                                                                           Sold Prices
                                                                                                   Page 27



2009 First Half Preview
The numbers are up. For the first 6 months of 2009 there are a total of 205 houses/condos sold
that are either HUD's, VA's, Bank Owned or Pre-Foreclosure. With 531 total sales in Pike for
the first 6 months, that means that over 38 percent were distressed sales (Government or Bank
related). Compare that to 30% in 2008, 20% in 2007 and 18% in 2006. If house/cono sales in
Pike would hold, the percentages would be less. Unfortunately regular sales are going down and
distressed sales are going up making the percentages higher.

What we are now seeing are distressed sales in higher market value neighborhoods. In the past
bank and government related sales were generally in the $75,000 to $125,000 range. Now we
see houses/condos that are bank/government related above the $125,000 range. Houses/condos
in this price range can't be 0 down loans. They are conventional loans where 5 to 20 percent was
put down on the loan.

              1st Half         2nd Half          Total
2006            143              132             275
2007            174              100             274
2008            164              163             327
2009            205               ?               ?

Last year I predicted 2008 would have 321 bank/government related homes/condos sold.
This year I am predicting 2009 will have 410 bank/government related homes/condos sold.

Condos
Bishops Pond                              8           Golden Woods                        1
Wildwood                                  7           Hidden Creek                        1
6500 Georgetown                           3           Lake Forest                         1
Westhaven Commons                         3           North Willow Park                   1
Arbor Village                             2           North Willow Woods                  1
Guion Creek Woods                         2           Parkside At Georgetown              1
Hidden Bay                                2           Robin Run Village                   1
The Village at Eagle Creek                2           Traders Pointe Townhomes            1
Whitehall Commons                         2           Yardley Court                       1

                                                      Total                             40




2009 First Half Preview - Houses continued on next page




Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                       Page 28



2009 First Half Preview (continued)
Houses
Crooked Creek Heights                 11           Cambridge Heights              1
Eagle Trace Village                   11           Candlelite Village             1
Cooper Pointe                          8           Cheswick Place                 1
Lakeside Manor West                    8           College Park                   1
Wedgewood                              8           Deer Creek                     1
Gateway West                           7           Eagle Bay                      1
Crooked Creek Villages                 6           Eagle Creek Manor              1
Robertson Village                      6           Eagles Landing                 1
Bayswater At Eagle Creek               5           Faith Knoll                    1
Coventry Woods                         5           Falcon Lakes                   1
Eagles Watch                           4           Falcon Run Village             1
Guion Lakes                            4           Fieldstone                     1
Liberty Creek North                    4           Geo K Hornadays                1
Oakforge                               4           Georgetown Crossing            1
Westchester                            4           Highlands Trail                1
Augusta Green                          3           Lincolnwood                    1
Hawthornes                             3           Lloyd Meadows                  1
No Legal Community                     3           Michigan Highlands             1
Quail Ridge                            3           Morningside                    1
Saddlebrook                            3           New Augusta Woods              1
Shadow Pointe                          3           Northpoint                     1
Wetherburn                             3           Pine Woods                     1
Falcons Nest                           2           Saddle Ridge                   1
Moller Village                         2           Stratford Glen                 1
Northern Estates                       2           The Gardens North              1
Spring Creek                           2           The Preserve at Eagle Creek    1
West Kessler                           2           The Willows                    1
Ashworth At West 86th                  1           Thoroughbred Acres             1
Augusta Crossing                       1           Traders Hollow                 1
Augusta Heights                        1           Walden Glen                    1
Beechwoood Heights                     1           Wolfington On Kessler          1
Bretton Wood                           1           Woodland Place                 1
Burnetts Oak view                      1           Worthington At West 86th       1

                                                   Total                         165




Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                      Page 29



Conclusion
Three of the biggest reasons for foreclosure are job loss, divorce and medical
expenses. Three things that will always be there but are magnified by the
state of the economy.

During a recession period job loss usually hits people that own lower end housing.
Since unemployment is approaching 10 percent and shows no signs of stabilizing,
I suspect that we will see more higher end housing going to foreclosure because
of job loss. Not only that, once unemployment stabilizes, we will continue to see
higher end foreclosures for about another year. It takes about 3 to 12 months
for mortgage companies to take a house through foreclosure and back on the
market again.

What I am seeing is extreme discounts on foreclosure housing back on the
market. Usually in the past foreclosed housing back on the market was at about
a 10 to 15 percent discount to market value. Now I am seeing 20 to 40 percent
discounts in some cases. On top of this I am seeing mortgage companies holding
back getting these houses back on the market for fear of completely flooding
the market.

In the past foreclosed housing was usually bought by investors. Regular buyers
generally did not want to do the work to put a foreclosed house in good condition.
During this recession I am seeing more and more foreclosed housing sold to
regular buyers. They are looking for a deal and are willing to do the work
themselves. Foreclosed on housing when back on the market has an average
of 77 days on the market for houses. Days on market for regular housing in Pike
Township is 93 days. To me it says there is a demand.

Yes, foreclosed housing in Pike Township has affected prices of regular sales.
I have seen prices down anywhere from 10 to 20 percent. Until foreclosures
stabilize, this will continue.

I speculate that we are going to see a new reason for foreclosure in the future.
As of May 1st 2009 the rules of appraisal have changed. What use to be somewhat
transparent to Realtors over the years has now taken center stage and will be
taken into consideration at every sale. (See www.LivingInPike.com/?p=127 for more
details about this new national law.) Basically Appraisers can have no contact with
the mortgage company or loan officer. Also mortgage companies can not use
an appraiser that they want to use. They have to go through a third party agency
and the agency gives you whoever is up in the round robin pick. The agency also
takes about 40 to 50 percent of the appraisers fee to cover agency costs. The
good appraisers are quitting the business and we are left with the beginners. An
appraisal for a house in Pike Township could be done by an appraiser in Evansville.
A seller only has 3 remedies: 1. Lower the price of the house to the appraisal
amount. 2. Have the buyer make up the difference. 3. Walk away from the house.




Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                              Page 30




Case Studies
The following are ALL sales that were listed on the BLC (Broker Listing
Cooperative) from 4 different communities. Up to now I have just dealt with
foreclosures, short sales and pre-foreclosures.

These case studies do not include a lot of the sales made by the builder at their
community sales office. I only have information of listed sales. Generally the BLC
will go back to 1999 with detailed information.

Normally builders only list their houses if sales are slow or they want the
publicity. If they do list houses, their costs go up. They would have to pay
Realtors to sell them.

I have picked out 4 home/condo communities that currently have high foreclosure
rates. Typically by the third year you start seeing foreclosures and the
deterioration of the price per square foot. What you also see is how prices
deteriorate the more foreclosures there are in a community.

What I am personally seeing is fairly new condos that were priced at $90,000 to
$100,000 because of foreclosures are not being priced at $50,000 to $70,000.
The older condos in Pike that use to sell between $50,000 and $70,000 are not
selling at these prices. Buyers prefer a newer product. These older condos are
losing their value fast and are not selling unless they are drastically discounted.

You may find some discrepancies between the case studies and foreclosure
information earlier in this study. In the foreclosure information I used a disclosure
field on the listing information. I sorted this field looking for pre-foreclosure, short
sale, bank owned, HUD or VA. I came up with the 327 listings. In the case
studies I had to look at each listing sheet. Agents sometimes did not check the
disclosure field but wrote in the disclosure type in the property description.




Foreclosure Study For Pike Township 2008 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                                          Page 31


Case Study # 1 - Bishops Pond (Page 1 of 2)

              Days Original List          List Price At    Sale             Square    $$ Per      Year       Close
               On      Price                 Closing              Price     Footage Square Foot   Built      Date
             Market
REG-ORIGINAL    0   $ 145,000.00          $   145,000.00   $   145,000.00    1900     $76.32      2004     1/23/2004
REG-ORIGINAL    2   $ 116,500.00          $   116,500.00   $   116,500.00    1442     $80.79      2004     12/26/2004

Total - 2004             $   261,500.00   $   261,500.00   $   261,500.00    3342     $78.25

REG-ORIGINAL       0     $   153,225.00   $   153,225.00   $   153,225.00    1812     $84.56      2004      1/2/2005
REG-ORIGINAL      11     $   159,900.00   $   159,900.00   $   159,900.00    1812     $88.25      2004     1/20/2005
REG-ORIGINAL      125    $   119,900.00   $   119,900.00   $   116,900.00    1025     $114.05     2004     5/13/2005
REG-ORIGINAL       7     $   146,900.00   $   146,900.00   $   146,900.00    1500     $97.93      2005     10/31/2005
REG-ORIGINAL      10     $   139,900.00   $   146,900.00   $   142,000.00    1355     $104.80     2005     12/29/2005

Total - 2005             $   719,825.00   $   726,825.00   $   718,925.00    7504     $95.81

REG-ORIGINAL      47     $   119,900.00   $   119,900.00   $   119,900.00    1200     $99.92      2005      2/9/2006
REG-ORIGINAL      20     $   148,900.00   $   148,900.00   $   148,900.00    1400     $106.36     2006      3/3/2006
REG-ORIGINAL      11     $   159,900.00   $   159,900.00   $   159,900.00    2240     $71.38      2006      5/23/2006
REGULAR           11     $   150,000.00   $   150,000.00   $   134,000.00    2240     $59.82      2004      5/30/2006
REG-ORIGINAL      88     $   132,900.00   $   139,900.00   $   141,000.00    1355     $104.06     2006      7/7/2006
REG-ORIGINAL      179    $   147,900.00   $   147,900.00   $   141,000.00    1355     $104.06     2005     8/18/2006
REG-ORIGINAL      123    $   167,900.00   $   167,900.00   $   167,900.00    2000     $83.95      2006      9/1/2006
REG-ORIGINAL      10     $   135,000.00   $   135,000.00   $   141,638.00    1250     $113.31     2005     10/30/2006

Total - 2006             $ 1,162,400.00   $ 1,169,400.00   $ 1,154,238.00    13040    $88.52


HUD               90     $   120,000.00   $   120,000.00   $    84,100.00    1204      $69.85     2005      3/7/2007
REGULAR           203    $   109,000.00   $   109,000.00   $   111,000.00    1350     $82.22      2005     10/9/2007
REG-ORIGINAL      30     $   152,500.00   $   152,500.00   $   149,900.00    1478     $101.42     2006     11/6/2007
REG-ORIGINAL      72     $   110,000.00   $   110,000.00   $   106,000.00    950      $111.58     2006     12/28/2007

Total - 2007             $   491,500.00   $   491,500.00   $   451,000.00    4982     $90.53




       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                            Page 32


Case Study # 1 - Bishops Pond (Page 2 of 2)

                 Days    Original List    List Price At    Sale               Square    $$ Per      Year       Close
                  On         Price           Closing              Price       Footage Square Foot   Built      Date
                Market
BANK              35     $    94,000.00   $    65,000.00   $    59,905.00      1332      $44.97     2005      5/25/2008
SHORT SALE        208    $    84,900.00   $    68,900.00   $    70,000.00      1332      $52.55     2005      5/30/2008
REG-ORIGINAL      120    $   135,000.00   $   135,000.00   $   133,000.00      1314     $101.22     2006     6/11/2008
REG-ORIGINAL      119    $   135,000.00   $   135,000.00   $   130,000.00      1314     $98.94      2005     6/11/2008
REG-ORIGINAL      103    $   142,500.00   $   142,500.00   $   138,000.00      1478     $93.37      2007     6/18/2008
REG-ORIGINAL      89     $   102,500.00   $   102,500.00   $    97,000.00       991      $97.88     2006     6/18/2008
SHORT SALE       242     $    83,000.00   $    53,000.00   $    60,000.00      1332      $45.05     2005     7/23/2008
REG-ORIGINAL      61     $   143,900.00   $   143,900.00   $   140,900.00      1371     $102.77     2007     7/30/2008
HUD               45     $    95,000.00   $    86,000.00   $    78,000.00      1888      $41.31     2004      9/5/2008
BANK              41     $    74,900.00   $    74,900.00   $    70,000.00      1332      $52.55     2005     9/10/2008
REG-ORIGINAL      18     $   139,900.00   $   139,900.00   $   130,000.00      1450     $89.66      2008     9/12/2008
BANK             148     $    74,900.00   $    54,900.00   $    45,500.00      1382     $32.92      2005     10/3/2008
SHORT SALE       173     $    65,000.00   $    65,000.00   $    70,000.00      950      $73.68      2005     11/12/2008

Total - 2008             $ 1,370,500.00   $ 1,266,500.00   $ 1,222,305.00      17466    $69.98

REGULAR           35     $    55,000.00   $    55,000.00   $      55,773.00    1332     $41.87      2005     1/15/2009
BANK              29     $    80,000.00   $    80,000.00   $      70,700.00    1892     $37.37      2005     1/26/2009
BANK              216    $    99,900.00   $    80,900.00   $      74,000.00    2000     $37.00      2004     1/28/2009
HUD               17     $    82,000.00   $    82,000.00   $      75,203.00    1887     $39.85      2004     2/18/2009
BANK              59     $    82,000.00   $    79,500.00   $      74,000.00    1892     $39.11      2004     2/25/2009
VA                 8     $    72,900.00   $    72,900.00   $      72,900.00    1892     $38.53      2004     2/27/2009
BANK              28     $    54,900.00   $    51,900.00   $      51,900.00    1140     $45.53      2006     3/20/2009
BANK               9     $    54,900.00   $    54,900.00   $      52,000.00    1250     $41.60      2005     4/24/2009
AGENT OWNED       210    $    74,500.00   $    59,900.00   $      56,000.00    1382     $40.52      2005     5/15/2009
HUD                52    $    50,000.00   $    50,000.00   $      55,000.00    1323     $41.57      2005     5/15/2009
SHORT SALE        152    $    99,900.00   $    80,000.00   $      70,000.00    1892     $37.00      2005     5/26/2009

Total - 2009             $   806,000.00   $   747,000.00   $   707,476.00      17882    $39.56




       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                             Page 33


Case Study # 2 - Lafayette Villas (Page 1 of 3)

                   Days   Original List     List Price At         Sale         Square    $$ Per      Year         Close
                    On       Price            Closing             Price        Footage Square Foot   Built        Date
                  Market
Regular             71   $   82,900.00      $     82,900.00   $    81,750.00    1205    $    67.84   1995       12/3/1999

Total - 1999               $    82,900.00   $     82,900.00   $    81,750.00    1205    $    67.84

Regular             111    $    89,000.00   $     85,900.00   $    85,000.00    1260    $    67.46   1995      3/22/2000
Regular             87     $    94,900.00   $     90,900.00   $    93,000.00    1260    $    73.81   1996       4/7/2000
Regular             257    $    85,900.00   $     81,500.00   $    81,500.00    1205    $    67.64   1996      5/19/2000
HUD                 108    $    91,500.00   $     72,800.00   $    74,000.00    1260    $    58.73   1996       6/2/2000
Regular             116    $    81,500.00   $     79,900.00   $    79,000.00    1205    $    65.56   1996       6/7/2000
Regular             287    $    84,900.00   $     80,900.00   $    79,000.00    1205    $    65.56   1996      7/19/2000
Regular             190    $    79,900.00   $     79,900.00   $    79,000.00    1205    $    65.56   1996      7/28/2000
Regular             297    $    83,900.00   $     79,999.00   $    80,000.00    1200    $    66.67   1996      11/9/2000
Regular             178    $    82,900.00   $     82,900.00   $    82,900.00    1205    $    68.80   1995      12/22/2000

Total - 2000               $   774,400.00   $ 734,699.00      $   733,400.00    11005   $    66.64

Regular             73     $    95,900.00   $     93,000.00   $   100,000.00    1259    $    79.43   1996      1/30/2001
Regular             31     $    79,999.00   $     79,999.00   $    79,888.00    1205    $    66.30   1996      1/31/2001
Regular              8     $    81,500.00   $     81,500.00   $    79,000.00    1200    $    65.83   1996      2/26/2001
Regular             40     $    80,000.00   $     80,000.00   $    78,500.00    1205    $    65.15   1996      4/12/2001
Regular             95     $    82,900.00   $     82,900.00   $    79,800.00    1205    $    66.22   1996      4/27/2001
Regular             38     $    93,900.00   $     93,000.00   $    93,000.00    1260    $    73.81   1995      4/30/2001
Regular             38     $    84,900.00   $     82,900.00   $    84,900.00    1205    $    70.46   1996      5/24/2001
Regular             13     $    84,500.00   $     84,500.00   $    84,500.00    1215    $    69.55   1996      10/4/2001
Regular             174    $    96,900.00   $     93,900.00   $    91,000.00    1260    $    72.22   1996      10/10/2001
Regular             18     $    89,777.00   $     89,777.00   $    87,500.00    1260    $    69.44   1996      10/12/2001
Regular             372    $    95,900.00   $     95,000.00   $    95,000.00    1260    $    75.40   1995      10/30/2001

Total - 2001               $   966,176.00   $ 956,476.00      $   953,088.00    13534   $    70.42

Regular             160    $    83,900.00   $     83,900.00   $    83,900.00    1205    $    69.63   1996      2/21/2002
Regular             160    $    83,900.00   $     83,900.00   $    83,900.00    1205    $    69.63   1996      2/21/2002
Regular             225    $    84,900.00   $     82,900.00   $    81,500.00    1200    $    67.92   1997      4/11/2002
Regular             34     $    82,500.00   $     83,500.00   $    83,200.00    1205    $    69.05   1995      4/30/2002
Regular             75     $    97,500.00   $     96,500.00   $    94,500.00    1260    $    75.00   1997       6/7/2002
Regular             45     $    84,999.00   $     81,999.00   $    78,000.00    1205    $    64.73   1996      6/14/2002
Regular             43     $    84,900.00   $     84,900.00   $    84,000.00    1205    $    69.71   1997      6/27/2002
Regular              0     $    84,900.00   $     84,900.00   $    84,500.00    1205    $    70.12   1996       8/2/2002
Regular             45     $    92,700.00   $     97,200.00   $    94,000.00    1260    $    74.60   1996       9/4/2002
HUD                  6     $    84,000.00   $     84,000.00   $    75,555.00    1260    $    59.96   1996      10/1/2002
HUD                  11    $    82,000.00   $     82,000.00   $    78,000.00    1260    $    61.91   1996      10/9/2002
HUD                 166    $    85,000.00   $     76,500.00   $    76,500.00    1260    $    60.71   1997      12/2/2002
Regular             93     $    54,900.00   $     79,900.00   $    74,700.00    1205    $    61.99   1996      12/3/2002
Regular             130    $    94,500.00   $     94,500.00   $    94,300.00    1260    $    74.84   1995      12/27/2002

Total - 2002               $ 1,180,599.00   $1,196,599.00     $ 1,166,555.00    17195   $    67.84



       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                               Page 34


Case Study # 2 - Lafayette Villas (Page 2 of 3)

                 Days      Original List    List Price At     Sale               Square    $$ Per      Year         Close
                  On           Price           Closing               Price       Footage Square Foot   Built        Date
                Market
HUD               61       $    78,000.00   $     70,200.00   $      70,200.00    1260    $    55.71   1996       3/5/2003
Corporate Owned   88       $    84,000.00   $     74,900.00   $      75,000.00    1205    $    62.24   1996      4/25/2003
Regular           10       $    81,500.00   $     81,500.00   $      83,500.00    1205    $    69.30   1996       6/6/2003
Regular          112       $    83,000.00   $     74,900.00   $      74,900.00    1205    $    62.16   1996      6/26/2003
Regular           57       $    80,000.00   $     80,000.00   $      77,000.00    1205    $    63.90   1996      7/25/2003
Regular           95       $    98,750.00   $     91,500.00   $      89,500.00    1260    $    71.03   1996      7/31/2003
Regular           67       $    85,000.00   $     83,900.00   $      82,000.00    1200    $    68.33   1996       8/4/2003
HUD                5       $    70,000.00   $     70,000.00   $      70,000.00    1205    $    58.09   1996      9/29/2003
HUD               18       $    72,000.00   $     72,000.00   $      66,904.00    1205    $    55.52   1996      10/31/2003

Total - 2003               $   732,250.00   $ 698,900.00      $   689,004.00      10950   $    62.92

HUD                  61    $    85,000.00   $     76,500.00   $      58,600.00    1260    $    46.51   1997       2/4/2004
Bank                 11    $    62,000.00   $     62,000.00   $      62,000.00    1205    $    51.45   1995       2/9/2004
Regular             176    $    91,900.00   $     89,900.00   $      89,900.00    1260    $    71.35   1996      2/27/2004
Regular             241    $    88,000.00   $     86,000.00   $      85,000.00    1260    $    67.46   1995      3/30/2004
Regular             23     $    83,500.00   $     83,500.00   $      82,000.00    1205    $    68.05   1996      4/15/2004
HUD                  6     $    67,000.00   $     67,000.00   $      64,076.00    1205    $    53.18   1996      5/24/2004
Regular             46     $    82,500.00   $     82,500.00   $      82,500.00    1205    $    68.47   1996      5/28/2004
Regular             55     $   825,000.00   $     82,500.00   $      85,000.00    1205    $    70.54   1997       7/1/2004
Regular             35     $    75,000.00   $     73,000.00   $      70,000.00    1205    $    58.09   1996       7/6/2004
Agent Owned         100    $    78,900.00   $     74,900.00   $      74,000.00    1205    $    61.41   1996      7/23/2004
Regular             203    $    84,727.00   $     79,999.00   $      79,999.00    1205    $    66.39   1996      7/26/2004
Agent Owned         91     $    78,900.00   $     74,900.00   $      77,600.00    1205    $    64.40   1996      8/20/2004
Regular             112    $    75,000.00   $     73,900.00   $      72,400.00    1205    $    60.08   1996      9/30/2004
Regular             12     $    89,900.00   $     89,900.00   $      86,500.00    1260    $    68.65   1996      10/5/2004
Regular             14     $    89,499.00   $     89,499.00   $      87,000.00    1260    $    69.05   1996      10/29/2004
Regular             113    $    84,400.00   $     79,900.00   $      79,900.00    1205    $    66.31   1996      11/22/2004
Regular             167    $    84,900.00   $     84,900.00   $      84,400.00    1205    $    70.04   1996      11/24/2004

Total - 2004               $ 2,126,126.00   $1,350,798.00     $ 1,320,875.00      20760   $    63.63


Regular             48     $    91,900.00   $     91,900.00   $      89,500.00    1260    $    71.03   1996      3/14/2005
Regular             20     $    85,900.00   $     88,900.00   $      88,900.00    1260    $    70.56   1996      3/14/2005
Regular             124    $    89,900.00   $     89,900.00   $      89,900.00    1260    $    71.35   1996      3/22/2005
Agent Owned         104    $    79,900.00   $     81,000.00   $      80,000.00    1205    $    66.39   1995      3/22/2005
Regular             112    $    85,900.00   $     83,900.00   $      82,500.00    1205    $    68.47   1996      4/14/2005
Regular             11     $    87,900.00   $     87,900.00   $      87,900.00    1260    $    69.76   1997      4/25/2005
Regular             64     $    81,900.00   $     79,900.00   $      82,000.00    1205    $    68.05   1996       7/8/2005
Regular             88     $    84,500.00   $     84,500.00   $      86,000.00    1205    $    71.37   1997      8/15/2005
Regular             52     $    85,000.00   $     84,000.00   $      84,000.00    1205    $    69.71   1995      8/19/2005
Regular             22     $    85,500.00   $     85,500.00   $      80,400.00    1260    $    63.81   1996      10/11/2005
Regular             129    $    84,900.00   $     84,900.00   $      86,000.00    1205    $    71.37   1996      10/31/2005
Regular             100    $    92,000.00   $     90,000.00   $      85,000.00    1260    $    67.46   1995      11/4/2005

Total - 2005               $ 1,035,200.00   $1,032,300.00     $ 1,022,100.00      14790   $    69.11

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                               Page 35


Case Study # 2 - Lafayette Villas (Page 3 of 3)

                   Days    Original List    List Price At     Sale               Square    $$ Per      Year         Close
                    On         Price           Closing               Price       Footage Square Foot   Built        Date
                  Market
VA                 169     $    85,280.00   $     79,900.00   $      78,000.00    1260    $    61.91   1995      5/12/2006
Regular             85     $    89,500.00   $     87,500.00   $      85,000.00    1260    $    67.46   1996      5/31/2006
Regular            129     $    84,900.00   $     76,500.00   $      73,400.00    1205    $    60.91   1995      8/21/2006
Bank               183     $    84,900.00   $     76,900.00   $      76,000.00    1205    $    63.07   1996      8/30/2006
Regular            189     $    93,900.00   $     86,900.00   $      86,000.00    1260    $    68.25   1996      9/20/2006
Bank               116     $    81,900.00   $     77,900.00   $      68,500.00    1260    $    54.37   1995      10/11/2006
HUD                 60     $    65,000.00   $     65,000.00   $      59,200.00    1205    $    49.13   1995      12/8/2006
Regular             10     $    84,900.00   $     84,900.00   $      83,900.00    1260    $    66.59   1996      12/21/2006

Total - 2006               $   670,280.00   $ 635,500.00      $   610,000.00      9915    $    61.52

Regular             105    $    75,000.00   $     75,000.00   $      75,000.00    1205    $    62.24   1996       1/9/2007
Regular             57     $    77,500.00   $     77,500.00   $      79,000.00    1205    $    65.56   1996      2/20/2007
HUD                 122    $    75,000.00   $     75,000.00   $      68,900.00    1268    $    54.34   1995      2/22/2007
Agent Owned         22     $    79,500.00   $     79,500.00   $      79,000.00    1205    $    65.56   1995      3/16/2007
Regular             31     $    86,900.00   $     86,900.00   $      83,000.00    1260    $    65.87   1996      3/26/2007
HUD                 144    $    65,000.00   $     65,000.00   $      51,500.00    1216    $    42.35   1996      4/11/2007
Regular             200    $    78,500.00   $     78,500.00   $      78,500.00    1205    $    65.15   1997       7/5/2007
Regular             68     $    79,500.00   $     79,500.00   $      78,500.00    1205    $    65.15   1997       7/9/2007
HUD                  94    $    65,000.00   $     65,000.00   $      58,000.00    1171    $    49.53   1996      7/23/2007
Regular             46     $    76,500.00   $     76,500.00   $      71,500.00    1205    $    59.34   1996      9/21/2007
Regular              7     $    86,900.00   $     86,900.00   $      84,000.00    1260    $    66.67   1996      9/28/2007
Regular             46     $    83,000.00   $     83,000.00   $      83,000.00    1260    $    65.87   1996      10/12/2007

Total - 2007               $   928,300.00   $ 928,300.00      $   889,900.00      14665   $    60.68

HUD                  10    $    64,000.00   $     64,000.00   $      60,500.00    1205    $    50.21   1995      1/11/2008
Foreclosure         236    $    79,500.00   $     69,900.00   $      55,000.00    1205    $    45.64   1997      2/22/2008
Regular             31     $    80,000.00   $     80,000.00   $      80,000.00    1205    $    66.39   1996      3/31/2008
Regular             142    $    79,899.00   $     79,899.00   $      80,000.00    1205    $    66.39   1996      4/14/2008
Bank                 55    $    64,900.00   $     60,899.00   $      57,000.00    1260    $    45.24   1996      5/15/2008
Bank                109    $    77,500.00   $     59,900.00   $      56,000.00    1205    $    46.47   1996      6/16/2008
Regular             34     $    83,000.00   $     83,000.00   $      83,000.00    1260    $    65.87   1996      8/15/2008
HUD                  11    $    55,000.00   $     55,000.00   $      50,000.00    1184    $    42.23   1996      9/29/2008
Regular             13     $    84,900.00   $     84,900.00   $      79,900.00    1205    $    66.31   1996      10/24/2008
Short Sale           11    $    68,000.00   $     68,000.00   $      50,000.00    1205    $    41.49   1996      11/25/2008

Total - 2008               $   736,699.00   $ 705,498.00      $   651,400.00      12139   $    53.66

Regular              0     $    59,000.00   $     59,000.00   $      59,000.00    1205    $    48.96   1996       1/30/2009

Total - 2009               $    59,000.00   $     59,000.00   $      59,000.00    1205    $    48.96




       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                           Page 36


Case Study # 3 - Robertson Village (Page 1 of 7)

                   Days     Original List   List Price At         Sale         Square      $$ Per      Year      Close
                    On         Price          Closing             Price        Footage   Square Foot   Built     Date
                  Market
     Regular        82     $    94,900.00   $    94,900.00    $    94,900.00    1200       $79.08      1991    10/27/1999
     Regular        29     $    99,900.00   $    99,900.00    $    97,900.00    1504       $65.09      1992    11/22/1999
     Regular       150     $   119,900.00   $   124,900.00    $   121,000.00    1960       $61.73      1989    11/23/1999
     Regular        50     $    89,900.00   $    88,900.00    $    88,900.00    1122       $79.23      1991    11/30/1999
     Regular        75     $    99,900.00   $    99,900.00    $    98,900.00    1312       $75.38      1990    12/21/1999
     Regular        92     $   114,900.00   $   112,900.00    $   112,000.00    1690       $66.27      1987    12/27/1999

   Total 1999              $   619,400.00   $   621,400.00    $   613,600.00    8788       $69.82

    Regular         145    $   109,900.00   $   109,900.00    $   112,000.00    1710       $65.50      1989    1/23/2000
    Regular         96     $    93,900.00   $    93,900.00    $    93,000.00    1292       $71.98      1989    1/27/2000
     HUD             45    $    96,500.00   $    96,500.00    $    96,500.00    1391       $69.37      1994     2/1/2000
    Regular         133    $   109,900.00   $   104,900.00    $   103,900.00    1444       $71.95      1993    2/15/2000
   Short Sale        47    $   100,000.00   $   100,000.00    $    97,900.00    1008       $97.12      1996     3/9/2000
    Regular         161    $   119,500.00   $   119,500.00    $   119,500.00    1740       $68.68      1994    3/17/2000
    Regular         14     $    94,561.00   $    94,561.00    $    94,500.00    1224       $77.21      1992    4/21/2000
    Regular         42     $   117,500.00   $   114,900.00    $   114,000.00    1695       $67.26      1994    4/28/2000
     HUD             5     $    95,500.00   $    95,500.00    $    95,500.00    1441       $66.27      1995    5/15/2000
    Regular         31     $    94,900.00   $    96,900.00    $    94,900.00    1560       $60.83      1991    5/15/2000
    Regular         49     $   110,900.00   $   109,900.00    $   109,500.00    1680       $65.18      1989    5/31/2000
    Regular         77     $   117,900.00   $   117,900.00    $   117,500.00    1753       $67.03      1990     6/2/2000
    Regular         22     $    98,000.00   $    98,000.00    $    98,000.00    1368       $71.64      1988    7/11/2000
    Regular         67     $   105,500.00   $   105,500.00    $   105,500.00    1500       $70.33      1994    8/15/2000
     HUD            80     $    93,000.00   $    93,000.00    $    82,000.00    1224       $66.99      1992    8/17/2000
    Regular         13     $    99,900.00   $    99,900.00    $    99,900.00    1178       $84.80      1993    8/18/2000
    Regular          5     $   103,000.00   $   103,000.00    $   103,000.00    1406       $73.26      1989    9/20/2000
    Regular         86     $    99,900.00   $    99,900.00    $    99,900.00    1330       $75.11      1989    9/29/2000
    Regular         50     $    97,000.00   $    97,000.00    $    94,900.00    1253       $75.74      1994    10/2/2000
    Regular         154    $   109,900.00   $   104,900.00    $    99,900.00    1800       $55.50      1992    10/3/2000
     HUD             33    $   112,000.00   $   112,000.00    $   105,000.00    2400       $43.75      1991    10/6/2000
    Regular         74     $    89,900.00   $    89,900.00    $    89,900.00    1420       $63.31      1993    10/30/2000
    Regular         53     $   101,900.00   $   101,900.00    $    99,900.00    1224       $81.62      1994    10/31/2000
    Regular         62     $   129,900.00   $   129,900.00    $   140,000.00    2160       $64.81      1988    11/1/2000
    Regular         63     $   118,350.00   $   118,350.00    $   118,350.00    1734       $68.25      1994    11/6/2000
    Regular         21     $    89,900.00   $    89,900.00    $    88,500.00    1420       $62.32      1992    12/12/2000
     HUD             96    $   113,500.00   $    90,800.00    $    90,800.00    1790       $50.73      1996    12/21/2000

   Total 2000              $ 2,822,611.00   $ 2,788,311.00    $ 2,764,250.00    41145      $67.18

     Regular        47     $    99,900.00   $    99,900.00    $    99,900.00    1614        $61.90     1992    1/19/2001
      Bank           30    $   104,900.00   $   104,900.00    $   105,000.00    2304       $45.57      1992    3/21/2001
     Regular        38     $    99,900.00   $    99,900.00    $    98,000.00    1400        $70.00     1992    3/21/2001
     Regular        38     $   116,900.00   $   118,900.00    $   118,900.00    1526       $77.92      1992    3/23/2001
     Regular        33     $   104,900.00   $   124,900.00    $   105,900.00    1863       $56.84      1993    3/23/2001
     Regular        159    $   114,900.00   $   119,900.00    $   119,900.00    1937       $61.90      1994    3/27/2001
     Regular        150    $    98,400.00   $    98,400.00    $    98,000.00    1308        $74.92     1990    3/30/2001
     Regular         6     $   124,900.00   $   126,900.00    $   126,900.00    1152       $110.16     1991    4/30/2001

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                           Page 37


Case Study # 3 - Robertson Village (Page 2 of 7)

                 Days       Original List   List Price At         Sale         Square      $$ Per      Year      Close
                  On           Price          Closing             Price        Footage   Square Foot   Built     Date
                Market
    Regular       86       $   109,901.00   $   109,901.00    $   105,000.00    1832       $57.31      1989     5/5/2001
    Regular       56       $   109,900.00   $   109,900.00    $   105,825.00    1424       $74.32      1990    5/24/2001
    Regular       15       $    96,500.00   $    96,500.00    $    96,500.00    1410       $68.44      1994     5/29/2001
    Regular      190       $   105,900.00   $   101,500.00    $   101,500.00    1186       $85.58      1993    5/31/2001
    Regular       28       $    88,000.00   $    88,000.00    $    86,500.00    1088       $79.50      1995     6/4/2001
    Regular       58       $   101,900.00   $   101,900.00    $    99,000.00    1222       $81.01      1992     6/25/2001
    Regular       23       $    98,900.00   $    98,900.00    $    97,000.00    1224       $79.25      1994     6/25/2001
    Regular       56       $   114,900.00   $   114,900.00    $   112,400.00    1801       $62.41      1988    6/26/2001
    Regular       29       $   107,900.00   $   107,900.00    $   103,500.00    1424       $72.68      1992    6/27/2001
     HUD         156       $   100,000.00   $    80,000.00    $    73,000.00    1304       $55.98      1991     6/28/2001
    Regular      103       $   118,900.00   $   118,900.00    $   120,650.00    1708       $70.64      1989    6/29/2001
 Agent Owned      67       $    96,000.00   $   109,500.00    $   105,500.00    1440       $73.26      1991    6/29/2001
 Agent Owned       0       $    84,900.00   $    84,900.00    $    72,500.00    1976       $36.69      1994     6/29/2001
    Regular       71       $    89,900.00   $   134,000.00    $   125,000.00    1526       $81.91      1993    7/20/2001
    Regular       14       $   103,900.00   $   105,400.00    $   105,400.00    1544       $68.26      1988    7/24/2001
    Regular       47       $    99,900.00   $   102,000.00    $   102,000.00    1316       $77.51      1988    7/30/2001
    Regular        1       $   123,000.00   $   123,000.00    $   123,000.00    1753       $70.17      1988    7/31/2001
    Regular       44       $   114,900.00   $   109,900.00    $   103,000.00    1801       $57.19      1988    8/15/2001
    Regular      149       $    99,900.00   $    99,900.00    $    97,500.00    1470       $66.33      1989     8/20/2001
    Regular      107       $   104,995.00   $   104,995.00    $   104,995.00    1478       $71.04      1988    8/30/2001
    Regular       43       $   122,500.00   $   118,500.00    $   118,500.00    1494       $79.32      1993     9/4/2001
    Regular       22       $   109,900.00   $   114,900.00    $   114,900.00    1441       $79.74      1995     9/4/2001
     HUD           5       $    78,000.00   $    78,000.00    $    82,000.00    1242       $66.02      1994     10/2/2001
    Regular       85       $    98,900.00   $    97,500.00    $    97,500.00    1248       $78.13      1994     10/4/2001
    Regular       18       $    94,900.00   $    94,900.00    $    94,900.00    1168       $81.25      1988    10/12/2001
    Regular       19       $    97,000.00   $    97,000.00    $    94,000.00    1258       $74.72      1988    10/19/2001
     Bank         43       $   114,000.00   $   105,000.00    $   104,000.00    1710       $60.82      1989    10/30/2001
    Regular      157       $   105,500.00   $    99,900.00    $   102,900.00    1204       $85.47      1990    11/20/2001
    Regular      143       $    99,900.00   $    99,900.00    $    99,900.00    1200       $83.25      1994    11/28/2001
Corporate Owned   59       $   114,900.00   $   110,000.00    $   109,000.00    1695       $64.31      1991    11/30/2001
    Regular       52       $   128,900.00   $   128,900.00    $   128,900.00    1900       $67.84      1988    12/2/2001
     HUD         187       $    85,000.00   $    68,850.00    $    68,850.00    1404       $49.04      1994     12/5/2001

   Total 2001              $ 4,184,196.00   $ 4,208,946.00    $ 4,127,620.00    59995      $68.80

      HUD            82    $    74,000.00   $    74,000.00    $    72,500.00    1220       $59.43      1991     1/9/2002
     Regular        74     $   114,900.00   $   116,000.00    $   116,000.00    1801       $64.41      1988    1/11/2002
     Regular        54     $   115,000.00   $   115,000.00    $   115,000.00    1716       $67.02      1988    2/1/2002
     Regular        80     $   124,900.00   $   128,000.00    $   128,000.00    2140       $59.81      1987    2/22/2002
      HUD           245    $   100,000.00   $    81,000.00    $    65,400.00    1620       $40.37      1992    2/22/2002
      HUD           110    $    93,000.00   $    93,000.00    $    87,500.00    1560       $56.09      1996    2/26/2002
      HUD            26    $    95,000.00   $    95,000.00    $    91,000.00    1776       $51.24      1997    4/11/2002
     Regular        209    $   110,000.00   $   100,000.00    $    92,000.00    1440       $63.89      1993    4/23/2002
     Regular        137    $    99,900.00   $    94,900.00    $    99,400.00    1304       $76.23      1989    4/30/2002
     Regular        98     $   104,900.00   $    94,900.00    $    97,000.00    1404       $69.09      1994     5/3/2002
     Regular        83     $   114,000.00   $   116,900.00    $   116,900.00    2036       $57.42      1988    5/13/2002
     Regular        222    $    93,000.00   $    89,900.00    $    89,000.00    1244       $71.54      1992    5/24/2002

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                           Page 38


Case Study # 3 - Robertson Village (Page 3 of 7)

                 Days       Original List   List Price At         Sale         Square      $$ Per      Year      Close
                  On           Price          Closing             Price        Footage   Square Foot   Built     Date
                Market
    Regular       79       $   103,900.00   $   103,900.00    $   105,500.00    1252       $84.27      1994    5/30/2002
    Regular       12       $    97,500.00   $    97,500.00    $    97,900.00    1296       $75.54      1995     6/21/2002
    Regular       75       $   105,000.00   $   105,000.00    $    98,000.00    1454       $67.40      1989     6/27/2002
    Regular       12       $   139,901.00   $   139,901.00    $   137,000.00    2195       $62.41      1988    6/28/2002
     HUD          54       $    86,000.00   $    77,400.00    $    76,000.00    1088       $69.85      1995     7/2/2002
    Regular       48       $    99,900.00   $   104,000.00    $   104,000.00    1620       $64.20      1992     7/9/2002
    Regular       53       $   115,911.00   $   111,000.00    $   110,000.00    1994       $55.17      1991    7/15/2002
    Regular        7       $   102,500.00   $   102,500.00    $   102,000.00    1180       $86.44      1993    7/23/2002
    Regular      351       $    97,500.00   $    94,900.00    $    88,000.00    1457       $60.40      1988     9/11/2002
    Regular      110       $   118,500.00   $   120,000.00    $   112,000.00    1540       $72.73      1990    9/13/2002
    Regular        5       $   118,000.00   $   118,000.00    $   118,000.00    1650       $71.52      1993    9/26/2002
    Regular       88       $    95,900.00   $    93,900.00    $    93,900.00    1122       $83.69      1991     9/27/2002
    Regular      206       $   103,900.00   $    98,900.00    $    99,900.00    1576       $63.39      1989     10/2/2002
     HUD          10       $    85,000.00   $    85,000.00    $    80,500.00    1792       $44.92      1994     10/2/2002
     HUD          97       $    85,000.00   $    85,000.00    $    80,000.00    1512       $52.91      1995    10/18/2002
    Regular       20       $   102,000.00   $   104,000.00    $   104,000.00    1410       $73.76      1994    10/30/2002
Corporate Owned   68       $   107,500.00   $    99,500.00    $    99,500.00    1872       $53.15      1993    11/26/2002
    Regular       59       $   105,000.00   $   105,000.00    $   105,000.00    1620       $64.81      1992    12/12/2002
    Regular       57       $   104,900.00   $   104,900.00    $   102,900.00    1220       $84.34      1990    12/31/2002

   Total 2002              $ 3,212,412.00   $ 3,148,901.00    $ 3,083,800.00    48111      $64.10

     HUD             7     $    80,000.00   $    80,000.00    $    82,000.00    1504       $54.52      1992     1/2/2003
  Agent Owned       24     $   119,900.00   $   119,900.00    $   115,000.00    1792       $64.17      1994    1/20/2003
    Regular         56     $   119,900.00   $   119,900.00    $   116,000.00    2152       $53.90      1989    1/27/2003
    Regular         205    $   137,500.00   $   129,900.00    $   122,000.00    2493       $48.94      1988    2/28/2003
    Regular         139    $   127,500.00   $   119,900.00    $   118,500.00    1836       $64.54      1991    3/25/2003
     Bank            90    $   109,900.00   $   109,900.00    $   113,900.00    1730       $65.84      1990    3/25/2003
    Regular         76     $   124,900.00   $   119,900.00    $   119,900.00    1966       $60.99      1992    3/26/2003
    Regular         64     $   109,900.00   $   109,900.00    $   107,750.00    1540       $69.97      1992    3/26/2003
     Bank           118    $    89,900.00   $    76,900.00    $    77,000.00    1244       $61.90      1994     3/28/2003
    Regular         126    $   109,400.00   $   109,400.00    $   109,900.00    1470       $74.76      1988     5/5/2003
    Regular         15     $   124,900.00   $   124,900.00    $   119,900.00    1966       $60.99      1992     5/9/2003
    Regular         58     $   115,000.00   $   109,900.00    $   113,197.00    1641       $68.98      1996    5/21/2003
    Regular         11     $   114,000.00   $   114,000.00    $   114,000.00    1510       $75.50      1990    5/22/2003
    Regular         10     $    96,900.00   $    96,900.00    $    96,000.00    1122       $85.56      1991     5/23/2003
     HUD             5     $    85,000.00   $    85,000.00    $    85,000.00    1644       $51.70      1996     5/23/2003
    Regular         17     $   104,900.00   $   104,900.00    $   104,900.00    1224       $85.70      1994    6/16/2003
     Bank            22    $   104,900.00   $   104,900.00    $   105,000.00    1494       $70.28      1993    7/15/2003
    Regular         157    $    99,900.00   $    99,900.00    $    96,900.00    1122       $86.36      1991     8/13/2003
    Regular         199    $   105,000.00   $   103,000.00    $   102,500.00    1248       $82.13      1990    8/19/2003
  Agent Owned       101    $   119,000.00   $   114,900.00    $   114,900.00    1477       $77.79      1995    9/12/2003
    Regular          4     $   117,500.00   $   117,500.00    $   120,000.00    2116       $56.71      1988    9/26/2003
    Regular         91     $   105,900.00   $    99,900.00    $    99,900.00    1268       $78.79      1993     10/3/2003
    Regular         431    $   132,300.00   $   127,500.00    $   129,000.00    1818       $70.96      1994    10/24/2003
    Regular         58     $   104,999.00   $   106,000.00    $   105,959.00    1384       $76.56      1988    10/30/2003
    Regular         14     $   110,000.00   $   110,000.00    $   111,500.00    2068       $53.92      1989    11/7/2003

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                           Page 39


Case Study # 3 - Robertson Village (Page 4 of 7)

                   Days     Original List   List Price At         Sale         Square      $$ Per      Year      Close
                    On         Price          Closing             Price        Footage   Square Foot   Built     Date
                  Market
     Regular        13     $   113,900.00   $   113,900.00    $   116,900.00    1586       $73.71      1989    11/12/2003
     Regular        16     $    84,900.00   $    84,900.00    $    87,900.00    1244       $70.66      1992    11/26/2003
     Regular       118     $    98,500.00   $    98,500.00    $    98,500.00    1224       $80.47      1996    12/10/2003
     Regular        84     $   107,000.00   $   104,900.00    $    99,000.00    1450       $68.28      1989    12/12/2003
     Original      116     $   122,710.00   $   122,710.00    $   122,710.00    1698       $72.27      2003    12/15/2003
     Regular        39     $   138,000.00   $   138,900.00    $   135,000.00    2066       $65.34      1995    12/19/2003

   Total 2003              $ 3,434,009.00   $ 3,378,610.00    $ 3,360,616.00    50097      $67.08

    Original        146    $   133,210.00   $   133,210.00    $   133,210.00    2044       $65.17      2003    1/12/2004
    Regular         328    $   122,900.00   $   107,500.00    $   107,500.00    1800       $59.72      1991    1/29/2004
     HUD             5     $    95,000.00   $    84,000.00    $    80,000.00    1480       $54.05      1995     1/30/2004
    Regular         106    $   109,000.00   $   109,000.00    $   109,000.00    1497       $72.81      1990     3/1/2004
    Regular         83     $   106,900.00   $   104,900.00    $   107,400.00    1342       $80.03      1988     3/4/2004
     HUD             26    $    85,000.00   $    85,000.00    $    80,111.00    1430       $56.02      1994     3/10/2004
    Regular         69     $   119,900.00   $   119,900.00    $   123,900.00    1776       $69.76      1997    3/18/2004
Corporate Owned      44    $    97,500.00   $    97,500.00    $    88,250.00    2550       $34.61      1991     4/6/2004
Corporate Owned      21    $   114,900.00   $   109,900.00    $   118,000.00    1832       $64.41      1968    4/15/2004
    Regular         12     $   109,900.00   $   115,000.00    $   115,000.00    1462       $78.66      1993    4/16/2004
    Regular         123    $   124,900.00   $   119,500.00    $   115,000.00    1685       $68.25      1990    5/14/2004
     HUD             41    $    87,000.00   $    78,300.00    $    70,000.00    1088       $64.34      1996     5/14/2004
    Regular         84     $   113,900.00   $   113,900.00    $   112,900.00    1501       $75.22      1991    5/25/2004
    Regular         15     $    94,900.00   $    94,900.00    $    96,750.00    1104       $87.64      1994     7/9/2004
    Regular         44     $   103,000.00   $   105,000.00    $   105,000.00    1420       $73.94      1992    7/14/2004
    Regular         72     $   110,700.00   $   109,500.00    $   108,700.00    1330       $81.73      1989    7/16/2004
    Regular         114    $   135,500.00   $   129,900.00    $   129,900.00    1997       $65.05      1992    8/12/2004
     HUD            123    $    82,000.00   $    73,800.00    $    73,800.00    1416       $52.12      1996     8/23/2004
    Regular         135    $   114,900.00   $   115,000.00    $   115,000.00    1424       $80.76      1992     9/3/2004
     Bank           151    $   112,900.00   $   110,000.00    $   110,000.00    1410       $78.01      1994    10/11/2004
    Regular         31     $   112,900.00   $   112,900.00    $   112,900.00    1440       $78.40      1990    11/3/2004
     Bank            40    $    78,900.00   $    78,900.00    $    80,414.00    1760       $45.69      1991     12/8/2004
     Bank           100    $    99,900.00   $    99,900.00    $   105,000.00    1732       $60.62      1989    12/9/2004
    Regular         32     $   104,900.00   $   104,900.00    $   102,000.00    1220       $83.61      1991    12/15/2004

   Total 2004              $ 2,570,510.00   $ 2,512,310.00    $ 2,499,735.00    37740      $66.24

    Regular         16     $   109,900.00   $    99,900.00    $    96,900.00    1550       $62.52      1993     1/7/2005
  Agent Owned       65     $   124,900.00   $   119,900.00    $   117,000.00    1416       $82.63      1996    1/10/2005
    Regular         40     $    99,900.00   $    99,900.00    $   101,900.00    1200       $84.92      1991    3/10/2005
    Regular         86     $   149,500.00   $   144,500.00    $   142,000.00    2195       $64.69      1988    3/24/2005
   Short Sale        68    $   104,900.00   $    96,000.00    $    96,000.00    1224       $78.43      1994    3/25/2005
    Regular          5     $   109,900.00   $   109,900.00    $   109,000.00    1440       $75.69      1991    3/27/2005
     HUD             10    $    85,000.00   $    85,000.00    $    86,000.00    1332       $64.56      1989     4/1/2005
     HUD             11    $    84,000.00   $    84,000.00    $    86,000.00    1536       $55.99      1996    4/15/2005
    Regular         86     $   109,999.00   $   101,999.00    $   101,900.00    1220       $83.52      1992    4/30/2005
    Regular         42     $   108,900.00   $   108,900.00    $   105,000.00    1296       $81.02      1994    5/3/2005
    Regular         105    $   119,900.00   $   119,900.00    $   115,500.00    1644       $70.26      1996    6/3/2005

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                           Page 40


Case Study # 3 - Robertson Village (Page 5 of 7)

                   Days     Original List   List Price At         Sale         Square      $$ Per      Year      Close
                    On         Price          Closing             Price        Footage   Square Foot   Built     Date
                  Market
     Regular        65     $   129,900.00   $   129,900.00    $   120,000.00    1905       $62.99      1992     6/8/2005
     Regular       237     $   132,000.00   $   126,000.00    $   126,000.00    1976       $63.77      1994    6/17/2005
     Regular        44     $   109,900.00   $   109,900.00    $   108,000.00    1400       $77.14      1992    6/27/2005
      Bank          61     $   100,500.00   $    94,900.00    $    93,000.00    1800       $51.67      1992     6/28/2005
      Bank          20     $   103,000.00   $   103,000.00    $   107,700.00    1665       $64.68      1996    7/20/2005
      Bank          61     $    89,900.00   $    86,900.00    $    84,000.00    1156       $72.66      1995     8/16/2005
     Regular       100     $   109,000.00   $   104,000.00    $   103,500.00    1410       $73.40      1990    8/29/2005
     Regular        70     $   101,900.00   $   101,900.00    $    99,000.00    1268       $78.08      1995     9/20/2005
     Regular        18     $    84,900.00   $    84,900.00    $    84,900.00    1036       $81.95      1988     9/29/2005
     Regular       146     $   129,500.00   $   124,900.00    $   121,000.00    1685       $71.81      1990    10/14/2005
     Regular       201     $   106,900.00   $   104,900.00    $   103,500.00    1364       $75.88      1989    10/28/2005
     Regular       117     $   109,900.00   $   109,900.00    $   109,900.00    1258       $87.36      1988    10/31/2005
      Bank         104     $    89,900.00   $    84,900.00    $    82,000.00    1526       $53.74      1993    11/11/2005
      Bank         169     $    94,900.00   $    94,900.00    $   101,900.00    1220       $83.52      1992    11/28/2005
      Bank         134     $   124,900.00   $   119,900.00    $   123,000.00    2140       $57.48      1987    11/30/2005
     Regular         7     $   119,900.00   $   119,900.00    $   119,900.00    1950       $61.49      1994    11/30/2005
     Regular       108     $   112,900.00   $   109,900.00    $   104,900.00    1430       $73.36      1991    12/13/2005

   Total 2005              $ 3,056,599.00   $ 2,980,499.00    $ 2,949,400.00    42242      $69.82

     Regular        143    $   109,900.00   $    99,900.00    $    99,000.00    1391       $71.17      1991    1/20/2006
      HUD            11    $    75,000.00   $    75,000.00    $    71,009.00    1122       $63.29      1992    1/23/2006
      Bank          118    $   116,900.00   $    99,900.00    $    99,000.00    1994       $49.65      1991    1/26/2006
     Regular        45     $   110,000.00   $   110,000.00    $   107,620.00    1560       $68.99      1988    2/10/2006
     Regular        29     $   109,900.00   $   104,900.00    $   104,900.00    1225       $85.63      1991    2/24/2006
     Regular        160    $   117,000.00   $   113,800.00    $   111,800.00    2136       $52.34      1990     3/1/2006
     Regular        48     $   114,900.00   $   117,900.00    $   117,900.00    1638       $71.98      1991    3/14/2006
     Regular        44     $   135,000.00   $   127,000.00    $   125,000.00    1656       $75.48      1994    3/15/2006
      Bank          122    $   143,850.00   $   123,450.00    $   121,000.00    2048       $59.08      1988    3/16/2006
     Regular        21     $   127,900.00   $   127,900.00    $   120,000.00    1223       $98.12      1992    4/19/2006
     Regular        62     $   105,900.00   $   109,900.00    $   109,900.00    1248       $88.06      1990    4/21/2006
      Bank          111    $   124,900.00   $   109,900.00    $   104,000.00    1924       $54.05      1995    4/28/2006
      HUD            42    $    90,000.00   $    90,000.00    $    90,000.00    1641       $54.84      1996     5/2/2006
     Regular        36     $   119,900.00   $   119,900.00    $   112,000.00    1436       $77.99      1988     5/3/2006
      HUD            11    $   100,000.00   $   100,000.00    $    93,033.00    2068       $44.99      1994     5/8/2006
     Regular        70     $   115,000.00   $   108,000.00    $   103,000.00    1232       $83.60      1990    5/16/2006
      Bank           84    $    92,000.00   $    85,000.00    $    84,000.00    1440       $58.33      1996     6/1/2006
     Regular        94     $   115,000.00   $   115,000.00    $   112,000.00    1416       $79.10      1989    6/30/2006
     Regular        131    $   108,000.00   $   105,900.00    $   105,900.00    1309       $80.90      1990    6/30/2006
     Regular        11     $   109,900.00   $   109,900.00    $   106,000.00    1332       $79.58      1989    7/21/2006
      Bank          181    $   115,900.00   $    94,900.00    $    85,000.00    1836       $46.30      1991    7/21/2006
      Bank           61    $    99,900.00   $    96,900.00    $    95,000.00    1296       $73.30      1995    8/25/2006
     Regular        29     $    99,977.00   $    99,977.00    $    95,000.00    1200       $79.17      1990     9/6/2006
     Regular        59     $   109,900.00   $   114,000.00    $   114,000.00    1310       $87.02      1991    9/15/2006
     Regular        134    $   107,000.00   $   107,000.00    $   103,000.00    1201       $85.76      1991    9/25/2006
     Regular        211    $   126,900.00   $   119,999.00    $   118,000.00    1690       $69.82      1987    10/6/2006
      Bank          192    $   119,900.00   $   114,900.00    $    95,000.00    1728       $54.98      1993    10/12/2006

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                           Page 41


Case Study # 3 - Robertson Village (Page 6 of 7)

                   Days     Original List   List Price At         Sale         Square      $$ Per      Year      Close
                    On         Price          Closing             Price        Footage   Square Foot   Built     Date
                  Market
  Agent Owned       81     $   117,900.00   $   117,900.00    $   117,900.00    1724       $68.39      1989    10/31/2006
    Regular         53     $   116,900.00   $   116,900.00    $   115,000.00    1695       $67.85      1994    10/31/2006
     HUD            11     $    90,000.00   $    90,000.00    $   110,000.00    1743       $63.11      1992    11/1/2006
      VA           101     $   107,999.00   $   107,999.00    $   106,000.00    1868       $56.75      1992    11/3/2006
    Regular        219     $   118,000.00   $   114,000.00    $   112,000.00    1816       $61.67      1996    12/14/2006
      VA            53     $   101,175.00   $   101,175.00    $   101,175.00    1502       $67.36      1993    12/27/2006

   Total 2006              $ 3,672,401.00   $ 3,548,900.00    $ 3,464,137.00    51648      $67.07

     HUD             67    $    89,000.00   $    89,000.00    $    67,288.00    1146       $58.72      1994     1/3/2007
   Short Sale       141    $    80,000.00   $    80,000.00    $    80,000.00    1440       $55.56      1991     1/31/2007
    Regular         84     $    99,900.00   $    99,900.00    $   103,000.00    1242       $82.93      1994    2/23/2007
     HUD             82    $    85,000.00   $    85,000.00    $    66,508.00    1200       $55.42      1992     2/23/2007
     Bank           148    $    69,900.00   $    69,900.00    $    66,000.00    1452       $45.45      1992     3/2/2007
Corporate Owned      86    $    69,900.00   $    69,900.00    $    67,500.00    1074       $62.85      1988     3/9/2007
     Bank           138    $   101,900.00   $   101,900.00    $   104,700.00    1612       $64.95      1989    3/12/2007
     HUD             10    $    90,000.00   $    90,000.00    $    87,200.00    1531       $56.96      1996     3/15/2007
    Regular         274    $   135,000.00   $   135,000.00    $   135,000.00    1900       $71.05      1988    3/30/2007
    Regular          7     $   132,499.00   $   132,499.00    $   132,000.00    1801       $73.29      1988     5/8/2007
     HUD             10    $    87,000.00   $    87,000.00    $    93,002.00    1773       $52.45      1989     5/14/2007
    Regular         18     $   107,000.00   $   107,000.00    $   104,250.00    1560       $66.83      1991    5/24/2007
 Agent Owned        33     $    98,900.00   $    98,900.00    $    96,500.00    1188       $81.23      1995     5/30/2007
    Regular         87     $   110,500.00   $   110,500.00    $   110,500.00    1220       $90.57      1992    5/31/2007
    Regular         146    $   124,900.00   $   124,900.00    $   120,000.00    1656       $72.46      1994    6/13/2007
    Regular          47    $   109,900.00   $   109,900.00    $   106,500.00    1782       $59.76      1991    6/15/2007
     Bank           130    $    67,000.00   $    67,000.00    $    57,000.00    1368       $41.67      1994     6/15/2007
 Agent Owned         25    $   104,900.00   $   104,900.00    $   102,500.00    1200       $85.42      1992    6/18/2007
     Bank           140    $    89,900.00   $    89,900.00    $    89,900.00    1780       $50.51      1988     6/25/2007
     HUD             31    $   103,000.00   $   103,000.00    $    86,803.00    1440       $60.28      1995     6/29/2007
   Short Sale       166    $    91,900.00   $    91,900.00    $    90,500.00    2400       $37.71      1991     7/11/2007
    Regular         88     $   101,900.00   $   101,900.00    $   101,900.00    1224       $83.25      1996    7/13/2007
   Short Sale        42    $    99,900.00   $    99,900.00    $    86,000.00    1510       $56.95      1991     9/14/2007
    Regular         59     $   124,900.00   $   124,900.00    $   124,000.00    1800       $68.89      1991    9/27/2007
    Regular          8     $   120,000.00   $   125,000.00    $   115,000.00    1576       $72.97      1988    11/16/2007
 Agent Owned        167    $   124,900.00   $   124,900.00    $   124,900.00    1790       $69.78      1996    12/19/2007
    Regular         170    $   119,900.00   $   119,900.00    $   117,000.00    1540       $75.97      1990    12/20/2007

   Total 2007              $ 2,739,499.00   $ 2,744,499.00    $ 2,635,451.00    41205      $63.96

     HUD             13    $    65,000.00   $    65,000.00    $    67,050.00    1356       $49.45      1990    1/23/2008
     Bank           174    $    84,900.00   $    72,900.00    $    63,500.00    1248       $50.88      1994    2/29/2008
    Regular         58     $   121,900.00   $   116,900.00    $   116,900.00    1772       $65.97      1988    3/26/2008
    Regular         21     $   135,000.00   $   135,000.00    $   129,000.00    1801       $71.63      1988    3/28/2008
     Bank            65    $    79,000.00   $    74,500.00    $    66,000.00    1872       $35.26      1993    4/21/2008
    Regular         262    $    99,900.00   $    82,900.00    $    92,800.00    1408       $65.91      1995    5/20/2008
  Agent Owned       100    $    94,900.00   $    89,900.00    $    89,900.00    1222       $73.57      1992    6/20/2008
    Regular         38     $   109,900.00   $   109,900.00    $   107,000.00    1624       $65.89      1992    7/1/2008

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                            Page 42


Case Study # 3 - Robertson Village (Page 7 of 7)

                   Days     Original List   List Price At          Sale         Square      $$ Per      Year      Close
                    On         Price          Closing              Price        Footage   Square Foot   Built     Date
                  Market
      HUD           38     $    89,000.00   $      89,000.00   $    89,000.00    1754       $50.74      1995    7/21/2008
      HUD           60     $    85,000.00   $      78,000.00   $    57,900.00    1600       $36.19      1991    7/29/2008
      Bank          36     $     3,717.00   $      73,500.00   $    76,000.00    1248       $60.90      1990    8/28/2008
      Bank          60     $    63,900.00   $      56,900.00   $    57,000.00    1872       $30.45      1993    9/15/2008
      Bank         205     $   138,000.00   $      98,900.00   $    98,700.00    2115       $46.67      1988    9/16/2008
     Regular       174     $    97,500.00   $      97,250.00   $    91,250.00    1248       $73.12      1994    10/21/2008
      Bank         141     $   104,900.00   $      61,900.00   $    63,000.00    1180       $53.39      1993    10/24/2008
      Bank          76     $    79,900.00   $      54,900.00   $    43,000.00    1440       $29.86      1996    10/30/2008
      Bank         195     $   105,000.00   $      64,900.00   $    60,000.00    1730       $34.68      1990    12/19/2008
      Bank          63     $    84,900.00   $      69,900.00   $    69,900.00    1692       $41.31      1993    12/29/2008
      Bank          12     $    59,900.00   $      59,900.00   $    57,000.00    1470       $38.78      1988    12/31/2008

   Total 2008              $ 1,702,217.00   $ 1,552,050.00     $ 1,494,900.00    29652      $50.41

    Regular          1     $    97,000.00   $    97,000.00     $    97,000.00    1391       $69.73      1991    1/16/2009
    Regular         280    $   119,900.00   $   105,000.00     $   103,900.00    1540       $67.47      1992    2/4/2009
     Bank           145    $    83,900.00   $    60,900.00     $    56,577.00    1544       $36.64      1994    2/20/2009
     Bank           146    $   109,900.00   $    89,900.00     $    89,900.00    1620       $55.49      1992    3/6/2009
     HUD            11     $    69,000.00   $    69,000.00     $    69,050.00    1990       $34.70      1994    3/6/2009
     HUD            82     $    86,000.00   $    68,800.00     $    68,800.00    1458       $47.19      1989    3/6/2009
  Agent Owned        7     $    89,900.00   $    89,900.00     $    88,000.00    1430       $61.54      1994    4/27/2009
     HUD            11     $    64,000.00   $    64,000.00     $    63,500.00    1253       $50.68      1992    4/28/2009
     HUD            139    $    63,000.00   $    63,000.00     $    49,950.00    1186       $42.12      1993    5/22/2009
     HUD             14    $    55,000.00   $    55,000.00     $    50,000.00    1832       $27.29      1988    6/3/2009
    Regular         13     $    94,900.00   $    94,900.00     $    94,900.00    1470       $64.56      1989    6/29/2009
  Agent Owned       87     $   104,900.00   $    99,900.00     $    99,900.00    1470       $67.96      1988    6/30/2009
     Bank            27    $    59,900.00   $    59,900.00     $    59,000.00    1436       $41.09      1992    7/7/2009
     HUD            165    $    70,000.00   $    56,000.00     $    41,512.00    1121       $37.03      1996    7/7/2009

   Total 2009              $ 1,167,300.00   $ 1,073,200.00     $ 1,031,989.00    20741      $49.76




       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                             Page 43


Case Study # 4 - Arbor Village (Page 1 of 3)

                   Days     Original List      List Price At        Sale         Square      $$ Per      Year      Close
                    On         Price             Closing            Price        Footage   Square Foot   Built     Date
                  Market

Original             0     $    97,185.00      $    97,185.00   $    97,185.00    1395       $69.67      2000     2/24/2000
Regular             203    $   103,000.00      $    99,950.00   $   104,000.00    1580       $65.82      1999     8/30/2000
Regular             71     $   105,000.00      $   105,000.00   $   110,000.00    1395       $78.85      1998    10/30/2000
Regular             79     $   105,000.00      $   105,000.00   $   109,000.00    1395       $78.14      1998    10/30/2000
Regular             58     $    99,900.00      $    99,900.00   $   106,000.00    1395       $75.99      1998    11/30/2000
Regular             50     $   102,000.00      $   106,500.00   $   104,500.00    1395       $74.91      1998    12/29/2000

Total 2000                 $   612,085.00      $   613,535.00   $   630,685.00    8555       $73.72

Regular             283    $   114,900.00      $    95,000.00   $    92,500.00    1623       $56.99      1998 9/18/2001
HUD                 14     $    95,000.00      $    95,000.00   $    88,000.00    1623       $54.22      1999 11/21/2001
Corporate Owned     210    $   104,900.00      $    97,900.00   $    95,000.00    1623       $58.53      1999 11/30/2001

Total 2001                 $   314,800.00      $   287,900.00   $   275,500.00    4869       $56.58

Regular             41     $   104,900.00      $   103,900.00   $   105,000.00    1623       $64.70      1998 3/29/2002
Regular             152    $    98,500.00      $    97,000.00   $    96,000.00    1395       $68.82      1998   5/9/2002
HUD                  61    $    85,000.00      $    76,500.00   $    68,850.00     895       $76.93      1998 5/13/2002
Regular             209    $   104,900.00      $    98,400.00   $    98,000.00    1623       $60.38      1998 5/30/2002
Regular             113    $   103,900.00      $   103,900.00   $   102,900.00    1623       $63.40      1998   6/7/2002
Regular             107    $   104,900.00      $   109,000.00   $   108,000.00    1395       $77.42      1998   8/5/2002
Agent Owned         58     $   104,900.00      $   104,900.00   $    99,000.00    1437       $68.89      1998 8/22/2002
HUD                 46     $    91,500.00      $    91,500.00   $    73,958.00    1633       $45.29      1998 11/8/2002
Regular             31     $   102,900.00      $   109,900.00   $   106,000.00    1623       $65.31      1999 12/30/2002

Total 2002                 $   901,400.00      $   895,000.00   $   857,708.00    13247      $64.75

HUD                 38     $    87,000.00      $    87,000.00   $    87,000.00    1395       $62.37      1999 1/30/2003
HUD                 56     $    90,000.00      $    81,000.00   $    81,000.00    1413       $57.33      1998 1/30/2003
HUD                  5     $    85,000.00      $    85,000.00   $    86,000.00    1623       $52.99      1998 3/26/2003
Regular             170    $   101,900.00      $    99,900.00   $    99,900.00    1395       $71.61      1998 4/29/2003
HUD                  61    $    75,000.00      $    75,000.00   $    67,700.00    1395       $48.53      1998   5/2/2003
HUD                  96    $    75,000.00      $    75,000.00   $    72,000.00    1623       $44.36      1998 5/27/2003
Regular             119    $    97,900.00      $    85,900.00   $    88,900.00    1395       $63.73      1999   8/7/2003
Agent Owned         132    $   102,900.00      $    99,900.00   $    98,900.00    1395       $70.90      1998 10/16/2003
Regular             98     $   106,000.00      $    99,900.00   $    95,000.00    1395       $68.10      1998 10/28/2003

Total 2003                 $   820,700.00      $   788,600.00   $   776,400.00    13029      $59.59

Bank                 14    $    92,000.00      $    92,000.00   $    85,000.00    1623       $52.37      1998     1/30/2004
Regular             16     $   106,500.00      $   106,500.00   $   105,000.00    1623       $64.70      1999     2/15/2004
HUD                  32    $    80,000.00      $    80,000.00   $    68,211.00    1395       $48.90      1998     3/16/2004
HUD                  14    $    82,000.00      $    82,000.00   $    76,206.00    1395       $54.63      1998     4/22/2004
Regular             353    $   102,900.00      $    93,899.00   $    93,000.00    1395       $66.67      1999     4/23/2004
Regular             15     $    81,900.00      $    81,900.00   $    81,900.00    1623       $50.46      1998     7/28/2004
Agent Owned         160    $    99,900.00      $    94,500.00   $    94,500.00    1395       $67.74      1999     8/30/2004

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                             Page 44


Case Study # 4 - Arbor Village (Page 2 of 3)

                   Days     Original List      List Price At        Sale         Square      $$ Per      Year      Close
                    On         Price             Closing            Price        Footage   Square Foot   Built     Date
                  Market

Bank                86     $    87,900.00      $    84,500.00   $    85,000.00    1395       $60.93      1999     9/29/2004
HUD                 163    $    75,000.00      $    75,000.00   $    75,100.00    1395       $53.84      1999    10/22/2004
HUD                  5     $    78,000.00      $    78,000.00   $    82,000.00    1395       $58.78      1999    10/27/2004
Regular             63     $   109,900.00      $   104,900.00   $   107,500.00    1623       $66.24      1998     11/3/2004
HUD                 11     $    80,000.00      $    80,000.00   $    76,108.00    1623       $46.89      1999     12/2/2004
HUD                 12     $    76,000.00      $    76,000.00   $    70,300.00    1395       $50.39      1999    12/16/2004
HUD                  7     $    60,000.00      $    60,000.00   $    60,000.00    1395       $43.01      1999    12/23/2004

Total 2004                 $ 1,212,000.00      $ 1,189,199.00   $ 1,159,825.00    20670      $56.11

Regular             152    $    99,900.00      $   101,000.00   $    96,000.00    1395       $68.82      1998 4/15/2005
Regular             24     $    87,000.00      $    87,000.00   $    83,600.00    1395       $59.93      1999 4/25/2005
Regular             39     $    99,995.00      $    99,995.00   $    98,000.00    1623       $60.38      1999 5/26/2005
HUD                  85    $    80,000.00      $    80,000.00   $    75,000.00    1623       $46.21      1998   6/9/2005
Regular             118    $   104,900.00      $    99,900.00   $   103,861.00    1623       $63.99      1998 6/10/2005
Regular             84     $   109,900.00      $   104,900.00   $   102,000.00    1623       $62.85      1999 8/26/2005
Regular             136    $   104,900.00      $    99,900.00   $    99,000.00    1395       $70.97      1999 9/12/2005
Regular              7     $    89,900.00      $    89,900.00   $    87,900.00    1395       $63.01      1998 11/23/2005

Total 2005                 $   776,495.00      $   762,595.00   $   745,361.00    12072      $61.74

HUD                 221    $    80,000.00      $    80,000.00   $    82,000.00    1623       $50.52      1998 1/19/2006
HUD                 11     $    70,000.00      $    70,000.00   $    75,000.00    1395       $53.76      1999 1/19/2006
HUD                 116    $    82,000.00      $    77,000.00   $    70,400.00    1395       $50.47      1998 2/10/2006
HUD                 81     $    81,000.00      $    81,000.00   $    84,000.00    1395       $60.22      1999 2/21/2006
Regular              9     $    99,900.00      $    99,900.00   $    96,250.00    1395       $69.00      1999 5/19/2006
Regular              51    $    99,900.00      $    99,900.00   $    97,500.00    1395       $69.89      1998 5/22/2006
HUD                  11    $    65,000.00      $    65,000.00   $    65,100.00    1446       $45.02      1999 5/23/2006
Bank                123    $   107,000.00      $    97,000.00   $    95,000.00    1623       $58.53      1998 6/26/2006
Bank                 64    $    89,900.00      $    84,900.00   $    87,447.00    1623       $53.88      1998 7/31/2006
HUD                  12    $    80,000.00      $    80,000.00   $    74,000.00    1396       $53.01      1998 8/14/2006
HUD                 117    $    80,000.00      $    80,000.00   $    72,001.00    1395       $51.61      1999 8/14/2006
Regular             50     $    99,900.00      $    99,900.00   $   100,000.00    1395       $71.69      1999 8/18/2006
HUD                  11    $    76,000.00      $    76,000.00   $    70,911.00    1623       $43.69      1998 10/26/2006
Corporate Owned     114    $    83,900.00      $    83,900.00   $    88,900.00    1623       $54.78      1998 11/6/2006
HUD                 172    $    75,000.00      $    75,000.00   $    77,008.00    1625       $47.39      1998 12/22/2006

Total 2006                 $ 1,269,500.00      $ 1,249,500.00   $ 1,235,517.00    22347      $55.29

HUD                  90    $    90,000.00      $    90,000.00   $    90,000.00    1608       $55.97      1999     1/26/2007
HUD                  21    $    72,000.00      $    72,000.00   $    67,000.00    1377       $48.66      1999     2/15/2007
Regular             50     $    84,900.00      $    84,900.00   $    84,900.00    1623       $52.31      1997     2/28/2007
Bank                 23    $    70,500.00      $    70,500.00   $    68,000.00    1623       $41.90      1999      3/2/2007
Bank                103    $    81,500.00      $    81,500.00   $    81,500.00    1395       $58.42      1998      3/9/2007
Regular             132    $    99,999.00      $    99,999.00   $    99,999.00    1623       $61.61      1998     3/16/2007
Regular             50     $   102,900.00      $   102,900.00   $    96,000.00    1623       $59.15      1998     3/23/2007

       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com
                                                                                                             Page 45


Case Study # 4 - Arbor Village (Page 3 of 3)

                   Days     Original List      List Price At        Sale         Square      $$ Per      Year     Close
                    On         Price             Closing            Price        Footage   Square Foot   Built    Date
                  Market

Agent Owned         179    $    96,500.00      $    96,500.00   $    96,900.00    1395       $69.46      1999   5/4/2007
Regular              7     $   101,900.00      $   101,900.00   $   101,900.00    1623       $62.79      1999 5/25/2007
Regular             10     $    96,500.00      $    96,500.00   $    96,500.00    1623       $59.46      1998 5/25/2007
Bank                 10    $    71,500.00      $    71,500.00   $    72,000.00    1395       $51.61      1998 6/26/2007
Regular             32     $   110,000.00      $   110,000.00   $   100,000.00    1623       $61.61      1998 10/4/2007
HUD                  10    $    85,000.00      $    85,000.00   $    85,000.00    1623       $52.37      1998 10/23/2007
Bank                182    $    84,900.00      $    84,900.00   $    89,000.00    1395       $63.80      1998 10/31/2007
Regular             101    $    96,900.00      $    96,900.00   $    96,900.00    1395       $69.46      1998 12/30/2007

Total 2007                 $ 1,344,999.00      $ 1,344,999.00   $ 1,325,599.00    22944      $57.78

Bank                25     $    79,500.00      $    79,500.00   $    66,000.00    1413       $46.71      1998 1/31/2008
Regular             89     $   105,000.00      $   104,500.00   $   103,500.00    1623       $63.77      1998   5/7/2008
HUD                 53     $    85,000.00      $    76,500.00   $    64,512.00    1621       $39.80      1999   5/7/2008
Regular             67     $   101,900.00      $   101,900.00   $   101,900.00    1413       $72.12      1998 6/30/2008
HUD                 81     $    82,000.00      $    70,000.00   $    51,000.00    1421       $35.89      1999 7/31/2008
Short Sale          203    $    79,900.00      $    72,900.00   $    67,000.00    1395       $48.03      1999   8/6/2008
Bank                77     $    79,900.00      $    64,500.00   $    63,500.00    1623       $39.13      1998   9/3/2008
Regular             14     $    90,000.00      $    90,000.00   $    90,000.00    1395       $64.52      1998 10/10/2008

Total 2008                 $   703,200.00      $   659,800.00   $   607,412.00    11904      $51.03

HUD                  10    $    57,000.00      $    57,000.00   $    60,236.00    1481       $40.67      1998    1/21/2009
Bank                 70    $    64,900.00      $    59,900.00   $    60,000.00    1446       $41.49      1999    5/22/2009
Regular              10    $    99,900.00      $    99,900.00   $    95,830.00    1623       $59.05      1998    8/21/2009

Total 2009                 $   221,800.00      $   216,800.00   $   216,066.00    4550       $47.49




       Foreclosure Study For Pike Township 2008 by Tim Lord
       www.TimLordRealtor.com www.LivingInPike.com

								
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