Tim Lord's Foreclosure Study For Pike Township_ Marion County

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         Tim Lord’s
      Foreclosure Study
             For
       Pike Township,
       Marion County,
           Indiana
            2007




Foreclosure Study For Pike Township 2007 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 2007 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 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 2007 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                          Page 3
Index

Page        Description

 1          Title Page
 2          Disclaimer
 3          This Index
 4          Forward
 6          Key
 7          By Community
 9          By Units Sold
 11         By DOM (Days On Market)
 13         By Sale Price
 15         By Percentage Of Original List Price
 17         By Average Dollars Per Square Foot
 19         By Year Built
 23         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 2008 (First Half)
 28         Conclusion
 29         Case Study Introduction
 30         Case Study 1 – Eagle Trace Village
 33         Case Study 2 – Brookfield Village
 34         Case Study 3 – Cooper Pointe
 39         Case Study 4 – Lakeside Manor
 44         Case Study 5 – 6500 Georgetown
 46         Case Study 6 – Parkside At Georgetown
 47         Case Study 7 – Westhaven Commons




Foreclosure Study For Pike Township 2007 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 274 houses that were what I call “recycled” homes sold in 2007.
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.

Condos – 27 Bank Owned, 30 HUD’s and 1 VA = 58 in study.
Houses – 103 Bank Owned, 88 HUD’s, 22 Pre-Foreclosure and 3 VA’s = 216 in study


Foreclosure Study For Pike Township 2007 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                              Page 5
1256 homes/condos (an un-audited number by me) were sold in Pike Township during
2007. The 274 homes in this study represent 21.8% of the homes sold in Pike Township
during 2007. This is up from the 2006 study by 1.8%.

My thoughts…When I first looked earlier this year to see how many “recycled” homes
had been sold in 2007, I came up with 275. This was the same number of “recycled”
homes in the 2006 study. I found this number to be shocking and surprising. I had
predicted in the last study that there would be 350 “recycled” homes in 2007. My
prediction was based on the first quarter sales of 2007. By the 3rd and 4th quarter of
2007 sales had slowed down because of the economy, market conditions, financing and
market values. It slowed everything down including “recycled” homes.

What surprises me is the low number of Pre-foreclosure and Short Sale homes both in
2006 and 2007. Pre-foreclosure and Short Sales are where the mortgage company
agrees to take less than what is owed. Yes the mortgage company loses but, they lose
less than what they would if the house went into foreclosure. On average a mortgage
company loses 35% of their loan if the house goes into foreclosure. It generally is a
business decision for the mortgage company. If a house goes into foreclosure the
Mortgage Company has to pay for attorneys, they have to secure the house, maintain
the house and then get a Realtor to sell it for them. The expenses add up. Mortgage
companies are not in the business of owning properties, only lending money to other
people so that they can own houses.

Are Short Sales and Pre-foreclosure sales easy? Depends. It comes down to how
motivated the owner is to sell, how much the Realtor is willing to put in the time and
effort and how willing the Mortgage Company is to take that path. Personally I have had
both easy and extremely hard cases. It requires a mound of paperwork to be filled out,
constant communication with the Mortgage Company, having to cut your commission to
the bone (in a short sale the Mortgage Company determines commissions paid to
Realtors) and close monitoring of the market. In the long run, if the house can be sold, it
is not nearly as bad as having a FORECLOSURE on your credit report.

What I am seeing in the market is that most Realtors won’t touch Short Sales/Pre-
foreclosures. Others seem to be specializing in it. It is an interesting market and
requires tactics that are not required in normal sales. It is a challenge for the average
Realtor. A true learning experience.




Foreclosure Study For Pike Township 2007 by Tim Lord
   www.TimLordRealtor.com www.LivingInPike.com
                                                                                        Page 6
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 8 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 2007 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
Condos                                         2007 2006

6500 Georgetown HPR                68/50       46268    9     1   72      $      709,670.00   $      702,670.00   $    666,149.00      94%       11,236   $     59
Arbor Village                      50/49       46254    6    11   43      $      470,500.00   $      470,500.00   $    463,500.00      99%        9,021   $     51
Bishops Pond                       63/48       46268    1     -   90      $      120,000.00   $      120,000.00   $     84,100.00      70%        1,204   $     70
Crooked Creek Condominium          82/39       46268    3     2   79      $      157,500.00   $      157,500.00   $    143,600.00      91%        3,227   $     44
Eden Village                       57/49       26254    1     -   52      $       76,500.00   $       76,500.00   $     74,000.00      97%        1,293   $     57
Emerald Green                      43/43       26254    1     4   73      $       45,000.00   $       29,900.00   $     29,900.00      66%        1,628   $     18
Gateway Townhouse                  40/60       26254    4     3   43      $       80,800.00   $       80,800.00   $     71,750.00      89%        4,256   $     17
Guion Creek Woods                  56/44       46254    1     1   60      $      100,000.00   $      100,000.00   $     70,100.00      70%        1,468   $     48
Hidden Bay                         55/63       46254    3     5   112     $      241,675.00   $      241,675.00   $    220,650.00      91%        3,836   $     58
Hidden Creek HPR                   86/82       46278    2     -   110     $      128,500.00   $      128,500.00   $    121,900.00      95%        2,224   $     55
Lafayette Villas HPR               57/60       46254    3     4   120     $      205,000.00   $      205,000.00   $    178,400.00      87%        3,655   $     49
North Willow Woods                 95/24       46268    1     1   10      $       73,000.00   $       73,000.00   $     73,100.00      100%       1,282   $     57
Parkside at Georgetown HPR         50/48       46254    5     -   102     $      440,900.00   $      433,900.00   $    334,700.00      76%        7,767   $     43
The Village At Eagle Creek         43/72       46254    2     -   72      $       94,800.00   $       91,800.00   $     79,000.00      83%        1,926   $     41
Traders Pointe Townhomes           86/84       46278    1     -   88      $      154,900.00   $      154,900.00   $    150,000.00      97%        1,666   $     90
Waterbury Condominium              96/28       46268    1     1   92      $       69,900.00   $       69,900.00   $     65,000.00      93%        1,520   $     43
Westhaven Commons HPR              54/48       26254    8     4   100     $      583,800.00   $      583,800.00   $    523,500.00      90%       10,196   $     51
Whitehall Commons                  47/47       46254    4     3   106     $      221,900.00   $      221,900.00   $    202,900.00      91%        4,224   $     48
Wildwood Homes                     69/49       46268    1     6   54      $       30,000.00   $       30,000.00   $     25,000.00      83%        1,103   $     23
Yardley Court HPR                  87/29       46268    1     -   32      $       99,000.00   $       99,000.00   $     90,000.00      91%        1,459   $     62

Totals - Condos                                         58         80     $ 4,103,345.00      $ 4,071,245.00      $ 3,667,249.00       89%       74,191   $     49


Community                      Coordinates      Zip    Total Total Avg.        Orgin List         List Price At   Sale Price At      % of Orig.   Total    Avg $$$
                               North/West              Sold Sold DOM          Price - Total       Close - Total   Close - Total      List Price Square Ft. Per SF
Houses                                                 2007 2006

Ansar Village                      45/41       46224     1    1   20      $      107,900.00   $      107,900.00   $     100,000.00     93%        2,631   $     38
Augusta Crossing                   72/44       46268     1    3   11      $      102,000.00   $      102,000.00   $      94,512.00     93%        1,980   $     48
Augusta Green                      73/44       46268     2    6   112     $      184,500.00   $      176,550.00   $     172,550.00     94%        3,193   $     54
Bayswater at Eagle Creek           47/67       46254     6    1   75      $      495,500.00   $      495,500.00   $     483,112.00     97%        8,530   $     57
Bretton Wood                       71/31       46268     1    -   42      $      177,610.00   $      177,610.00   $     172,000.00     97%        2,410   $     71
Brookfield Village                 56/45       26254     2    5   43      $      179,000.00   $      179,000.00   $     168,316.00     94%        3,312   $     51
Cambridge Heights                  48/63       46254     2    -   30      $      221,900.00   $      221,900.00   $     226,900.00     102%       3,655   $     62
Cooper Pointe                      62/28       46268    14   11   117     $    1,360,800.00   $    1,358,700.00   $   1,265,089.00     93%       21,582   $     59
Country Air Estates                49/63       46254     1    -   102     $       94,900.00   $       94,900.00   $      94,900.00     100%       1,732   $     55
Country Farms                      57/57       46254     4    2   65      $      384,400.00   $      384,400.00   $     338,125.00     88%        5,428   $     62
Countrybrook                       62/48       46254     1    -   25      $       99,900.00   $       99,900.00   $      99,900.00     100%       1,646   $     61
Coventry Woods                 52/47 & 52/46   46254     2    2   31      $      145,000.00   $      145,000.00   $     125,817.00     87%        2,436   $     52
Crooked Creek Heights          81/38 & 79/37   46268     4    4   78      $      466,600.00   $      466,600.00   $     453,800.00     97%        7,862   $     58
Crooked Creek Villages             71/35       46268    11   10   59      $    1,451,500.00   $    1,451,500.00   $   1,420,751.00     98%       22,789   $     62
Deer Creek                         56/51       46254     3    -   128     $      428,500.00   $      409,780.00   $     373,500.00     87%        6,096   $     61
Eagle Bay                          42/71       46254     2    -   94      $      168,400.00   $      168,400.00   $     151,000.00     90%        2,778   $     54
Eagle Creek Manor                  63/67       46278     1    -   100     $      134,900.00   $      134,900.00   $     139,900.00     104%       2,336   $     60
Eagle Creek Woods                  73/51       46254     1    -   168     $      204,900.00   $      204,900.00   $     204,900.00     100%       2,574   $     80
Eagle Trace Village                43/39       46254    16   25   68      $    1,331,900.00   $    1,331,900.00   $   1,336,976.00     100%      25,921   $     52
Eagles Landing                     40/73       46254     2    1   44      $      237,900.00   $      237,900.00   $     206,000.00     87%        4,030   $     51
Eagles Watch                       46/70       46254     1    -   80      $      118,000.00   $      118,000.00   $     107,500.00     91%        1,474   $     73
Fairway Woods                      46/36       46228     1    -   157     $      179,000.00   $      157,555.00   $     157,555.00     88%        2,846   $     55
Falcon Lakes                       62/37       46228     5    4   75      $      694,700.00   $      688,600.00   $     656,300.00     94%       10,004   $     66
Falcon Run Village                 46/56       46254     1    3   222     $       63,000.00   $       63,000.00   $      50,651.00     80%        1,707   $     30
Falcons Nest                       52/58       46254     4    -   68      $      434,900.00   $      434,900.00   $     395,115.00     91%        8,042   $     49
Fieldstone                         63/48       46268     1    2   383     $      189,900.00   $      189,900.00   $     180,000.00     95%        2,350   $     77
Gateway West                       40/60       46254    10   13   115     $      549,400.00   $      539,400.00   $     457,901.00     83%       13,183   $     35
Gerogetown Crossing                71/51       46268     3    3   36      $      267,900.00   $      267,900.00   $     244,007.00     91%        4,459   $     55
Guion Pointe                       45/41       46254     1    1   181     $      149,900.00   $      129,900.00   $     119,500.00     80%        2,332   $     51
Hanover Grove                      91/30       46268     1    -    8      $       79,999.00   $       79,999.00   $      79,999.00     100%       2,146   $     37
Hawthornes                         91/86       46278     3    1   158     $      623,300.00   $      623,300.00   $     621,400.00     100%       7,781   $     80
Highlands Trail                    44/68       46254     2    1   85      $      186,900.00   $      186,900.00   $     178,500.00     96%        4,192   $     43
Huntington Pointe                  71/68       46278     1    -   335     $      174,900.00   $      174,900.00   $     160,000.00     91%        2,652   $     60
Lakeside Manor                     53/53       46254    18   15   58      $    1,829,875.00   $    1,829,875.00   $   1,759,893.00     96%       33,090   $     53
Lantern Park                       46/59       46254     1    -   95      $      102,000.00   $      102,000.00   $      76,788.00     75%        2,156   $     36
Legendary Hills                    59/56       46278     1    -   23      $       99,900.00   $       99,900.00   $      96,000.00     96%        1,300   $     74
Liberty Creek/North/Village        56/56       46254    12    9   160     $    1,306,205.00   $    1,301,205.00   $   1,265,464.00     97%       21,911   $     58
Lloyd Meadows                      79/43       46268     4    1   371     $      465,000.00   $      465,000.00   $     463,376.00     100%       6,876   $     67
Michigan Highlands                 65/24       46260     1    1   58      $      105,500.00   $      105,500.00   $     100,000.00     95%        1,878   $     53
Moller Village                     45/55       46254     4    3   92      $      318,500.00   $      318,500.00   $     303,612.00     95%        5,604   $     54

          Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com           www.LivingInPike.com
                                                                                                                                                     Page 8

By Community
Community                     Coordinates      Zip    Total Total Avg.        Orgin List         List Price At   Sale Price At     % of Orig.   Total    Avg $$$
                              North/West              Sold Sold DOM          Price - Total       Close - Total   Close - Total     List Price Square Ft. Per SF
                                                      2007 2006

Morningside                       52/31       46228    5    10   69      $      503,400.00   $      493,400.00   $   461,712.00      92%        8,578   $      54
No Legal Community                                     8     5   136     $      709,500.00   $      706,500.00   $   612,525.00      86%       13,711   $      45
Normandy Farms                    79/67       46278    1     -   79      $      324,900.00   $      324,900.00   $   324,900.00      100%       2,994   $     109
Oakforge Lakes/Woods              60/50       46254    4     2   20      $      360,800.00   $      360,800.00   $   345,473.00      96%        5,497   $      63
Phillips Carlon                   64/67       46278    1     -   293     $       72,000.00   $       72,000.00   $    60,000.00      83%        1,560   $      38
Pine Woods                        79/45       46268    1     -   42      $      149,900.00   $      149,900.00   $   149,000.00      99%        2,251   $      66
Quail Ridge                       64/56       46278    1     2   130     $       94,900.00   $       94,900.00   $    94,900.00      100%       1,344   $      71
Robertson Village             41/38 & 40/38   46228    9    11   79      $      785,600.00   $      785,600.00   $   728,901.00      93%       13,008   $      56
Shadow Pointe                     47/42       46254    1     -   51      $      114,900.00   $      114,900.00   $   105,000.00      91%        2,096   $      50
Stratford Glen                    62/58       46254    1     6   46      $      110,000.00   $      110,000.00   $    91,500.00      83%        1,750   $      52
Sunset At Eagle Creek             42/68       46254    1     1   120     $       92,000.00   $       92,000.00   $    79,000.00      86%        1,136   $      70
The Gardens At Eagle Creek        56/51       46254    3     -   61      $      277,000.00   $      277,000.00   $   253,218.00      91%        3,799   $      67
The Gardens North                 56/50       46254    1     -   18      $       80,000.00   $       80,000.00   $    74,400.00      93%        1,148   $      65
The Glen At Eagle Creek           56/50       46254    1     -   146     $      110,000.00   $      110,000.00   $   110,500.00      100%       1,299   $      85
The Willows                       48/68       46254    4     4   129     $      347,000.00   $      347,000.00   $   343,989.00      99%        5,030   $      68
Thoroughbred Acres                86/79       46278    1     -   11      $      339,900.00   $      339,900.00   $   340,000.00      100%       2,814   $     121
Walden Glen                       86/86       46278    2     -   88      $      423,800.00   $      417,800.00   $   395,100.00      93%        5,093   $      78
Walden Trace                      86/82       46278    1     -   96      $      164,000.00   $      164,000.00   $   161,900.00      99%        2,600   $      62
Wedgewood                         43/63       46254    7    11   78      $      375,700.00   $      375,700.00   $   338,611.00      90%        8,927   $      38
West Kessler Homes                56/35       26228    1     1    5      $       64,900.00   $       64,900.00   $    65,500.00      101%       2,074   $      32
Westchester Estates           80/33 & 79/31   46268    2     2   175     $      219,800.00   $      219,800.00   $   210,000.00      96%        4,040   $      52
Wetherburn                        75/30       46268    3     2   48      $      299,500.00   $      299,500.00   $   288,189.00      96%        4,686   $      62
Whitehall Addition                47/42       46254    1     1   35      $       88,500.00   $       88,500.00   $    90,000.00      102%       1,408   $      94
Wood Creek                        52/52       46254    2     2   57      $      224,900.00   $      224,900.00   $   214,331.00      95%        3,526   $      61
Woodland Place                    46/56       46254    2     1   38      $      198,900.00   $      198,900.00   $   194,200.00      98%        3,310   $      59

Totals - Houses                                       216         89     $ 22,448,589.00     $ 22,338,274.00     $ 21,234,458.00     95%      372,583   $     57




         Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com           www.LivingInPike.com
                                                                                                                                                     Page 9



By Total Sold 2007
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                                                2007 2006

6500 Georgetown HPR              68/50        46268    9      1        72   $      709,670.00   $    702,670.00    $    666,149.00       94%      11,236      $   59
Westhaven Commons HPR            54/48        26254    8      4       100   $      583,800.00   $    583,800.00    $    523,500.00       90%      10,196      $   51
Arbor Village                    50/49        46254    6     11        43   $      470,500.00   $    470,500.00    $    463,500.00       99%       9,021      $   51
Parkside at Georgetown HPR       50/48        46254    5      -       102   $      440,900.00   $    433,900.00    $    334,700.00       76%       7,767      $   43
Gateway Townhouse                40/60        26254    4      3        43   $       80,800.00   $     80,800.00    $     71,750.00       89%       4,256      $   17
Whitehall Commons                47/47        46254    4      3       106   $      221,900.00   $    221,900.00    $    202,900.00       91%       4,224      $   48
Crooked Creek Condominium        82/39        46268    3      2        79   $      157,500.00   $    157,500.00    $    143,600.00       91%       3,227      $   44
Hidden Bay                       55/63        46254    3      5       112   $      241,675.00   $    241,675.00    $    220,650.00       91%       3,836      $   58
Lafayette Villas HPR             57/60        46254    3      4       120   $      205,000.00   $    205,000.00    $    178,400.00       87%       3,655      $   49
Hidden Creek HPR                 86/82        46278    2      -       110   $      128,500.00   $    128,500.00    $    121,900.00       95%       2,224      $   55
The Village At Eagle Creek       43/72        46254    2      -        72   $       94,800.00   $     91,800.00    $     79,000.00       83%       1,926      $   41
Bishops Pond                     63/48        46268    1      -        90   $      120,000.00   $    120,000.00    $     84,100.00       70%       1,204      $   70
Eden Village                     57/49        26254    1      -        52   $       76,500.00   $     76,500.00    $     74,000.00       97%       1,293      $   57
Emerald Green                    43/43        26254    1      4        73   $       45,000.00   $     29,900.00    $     29,900.00       66%       1,628      $   18
Guion Creek Woods                56/44        46254    1      1        60   $      100,000.00   $    100,000.00    $     70,100.00       70%       1,468      $   48
North Willow Woods               95/24        46268    1      1        10   $       73,000.00   $     73,000.00    $     73,100.00      100%       1,282      $   57
Traders Pointe Townhomes         86/84        46278    1      -        88   $      154,900.00   $    154,900.00    $    150,000.00       97%       1,666      $   90
Waterbury Condominium            96/28        46268    1      1        92   $       69,900.00   $     69,900.00    $     65,000.00       93%       1,520      $   43
Wildwood Homes                   69/49        46268    1      6        54   $       30,000.00   $     30,000.00    $     25,000.00       83%       1,103      $   23
Yardley Court HPR                87/29        46268    1      -        32   $       99,000.00   $     99,000.00    $     90,000.00       91%       1,459      $   62

Totals - Condos                                        58             80    $ 4,103,345.00      $ 4,071,245.00     $ 3,667,249.00       89%       74,191      $   49


Community                     Coordinates      Zip    Total Total    Avg.        Orgin List      List Price At     Sale Price At      % of Orig.   Total    Avg $$$
                              North/West              Sold Sold      DOM        Price - Total    Close - Total     Close - Total      List Price Square Ft. Per SF
Houses                                                2007 2006

Lakeside Manor                    53/53       46254    18    15        58   $    1,829,875.00   $   1,829,875.00   $   1,759,893.00      96%      33,090      $   53
Eagle Trace Village               43/39       46254    16    25        68   $    1,331,900.00   $   1,331,900.00   $   1,336,976.00     100%      25,921      $   52
Cooper Pointe                     62/28       46268    14    11       117   $    1,360,800.00   $   1,358,700.00   $   1,265,089.00      93%      21,582      $   59
Liberty Creek/North/Village       56/56       46254    12     9       160   $    1,306,205.00   $   1,301,205.00   $   1,265,464.00      97%      21,911      $   58
Crooked Creek Villages            71/35       46268    11    10        59   $    1,451,500.00   $   1,451,500.00   $   1,420,751.00      98%      22,789      $   62
Gateway West                      40/60       46254    10    13       115   $      549,400.00   $     539,400.00   $     457,901.00      83%      13,183      $   35
Robertson Village             41/38 & 40/38   46228    9     11        79   $      785,600.00   $     785,600.00   $     728,901.00      93%      13,008      $   56
No Legal Community                                     8      5       136   $      709,500.00   $     706,500.00   $     612,525.00      86%      13,711      $   45
Wedgewood                         43/63       46254    7     11        78   $      375,700.00   $     375,700.00   $     338,611.00      90%       8,927      $   38
Bayswater at Eagle Creek          47/67       46254    6      1        75   $      495,500.00   $     495,500.00   $     483,112.00      97%       8,530      $   57
Falcon Lakes                      62/37       46228    5      4        75   $      694,700.00   $     688,600.00   $     656,300.00      94%      10,004      $   66
Morningside                       52/31       46228    5     10        69   $      503,400.00   $     493,400.00   $     461,712.00      92%       8,578      $   54
Country Farms                     57/57       46254    4      2        65   $      384,400.00   $     384,400.00   $     338,125.00      88%       5,428      $   62
Crooked Creek Heights         81/38 & 79/37   46268    4      4        78   $      466,600.00   $     466,600.00   $     453,800.00      97%       7,862      $   58
Falcons Nest                      52/58       46254    4      -        68   $      434,900.00   $     434,900.00   $     395,115.00      91%       8,042      $   49
Lloyd Meadows                     79/43       46268    4      1       371   $      465,000.00   $     465,000.00   $     463,376.00     100%       6,876      $   67
Moller Village                    45/55       46254    4      3        92   $      318,500.00   $     318,500.00   $     303,612.00      95%       5,604      $   54
Oakforge Lakes/Woods              60/50       46254    4      2        20   $      360,800.00   $     360,800.00   $     345,473.00      96%       5,497      $   63
The Willows                       48/68       46254    4      4       129   $      347,000.00   $     347,000.00   $     343,989.00      99%       5,030      $   68
Deer Creek                        56/51       46254    3      -       128   $      428,500.00   $     409,780.00   $     373,500.00      87%       6,096      $   61
Gerogetown Crossing               71/51       46268    3      3        36   $      267,900.00   $     267,900.00   $     244,007.00      91%       4,459      $   55
Hawthornes                        91/86       46278    3      1       158   $      623,300.00   $     623,300.00   $     621,400.00     100%       7,781      $   80
The Gardens At Eagle Creek        56/51       46254    3      -        61   $      277,000.00   $     277,000.00   $     253,218.00      91%       3,799      $   67
Wetherburn                        75/30       46268    3      2        48   $      299,500.00   $     299,500.00   $     288,189.00      96%       4,686      $   62
Augusta Green                     73/44       46268    2      6       112   $      184,500.00   $     176,550.00   $     172,550.00      94%       3,193      $   54
Brookfield Village                56/45       26254    2      5        43   $      179,000.00   $     179,000.00   $     168,316.00      94%       3,312      $   51
Cambridge Heights                 48/63       46254    2      -        30   $      221,900.00   $     221,900.00   $     226,900.00     102%       3,655      $   62
Coventry Woods                52/47 & 52/46   46254    2      2        31   $      145,000.00   $     145,000.00   $     125,817.00      87%       2,436      $   52
Eagle Bay                         42/71       46254    2      -        94   $      168,400.00   $     168,400.00   $     151,000.00      90%       2,778      $   54
Eagles Landing                    40/73       46254    2      1        44   $      237,900.00   $     237,900.00   $     206,000.00      87%       4,030      $   51
Highlands Trail                   44/68       46254    2      1        85   $      186,900.00   $     186,900.00   $     178,500.00      96%       4,192      $   43
Walden Glen                       85/83       46278    2      -        88   $      423,800.00   $     417,800.00   $     395,100.00      93%       5,093      $   78
Westchester Estates           80/33 & 79/31   46268    2      2       175   $      219,800.00   $     219,800.00   $     210,000.00      96%       4,040      $   52
Wood Creek                        52/52       46254    2      2        57   $      224,900.00   $     224,900.00   $     214,331.00      95%       3,526      $   61
Woodland Place                    46/56       46254    2      1        38   $      198,900.00   $     198,900.00   $     194,200.00      98%       3,310      $   59
Ansar Village                     45/41       46224    1      1        20   $      107,900.00   $     107,900.00   $     100,000.00      93%       2,631      $   38
Augusta Crossing                  72/44       46268    1      3        11   $      102,000.00   $     102,000.00   $      94,512.00      93%       1,980      $   48
Bretton Wood                      71/31       46268    1      -        42   $      177,610.00   $     177,610.00   $     172,000.00      97%       2,410      $   71
Country Air Estates               49/63       46254    1      -       102   $       94,900.00   $      94,900.00   $      94,900.00     100%       1,732      $   55
Countrybrook                      62/48       46254    1      -        25   $       99,900.00   $      99,900.00   $      99,900.00     100%       1,646      $   61

         Foreclosure Study For Pike Township 2007 by Tim Lord     www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                                                   Page 10



By Total Sold 2007

Community                    Coordinates     Zip    Total Total        Avg.        Orgin List      List Price At    Sale Price At     % of Orig.   Total    Avg $$$
                             North/West             Sold Sold          DOM        Price - Total    Close - Total    Close - Total     List Price Square Ft. Per SF
Houses                                              2007 2006

Eagle Creek Manor                63/67      46278     1         -       100   $      134,900.00   $   134,900.00    $   139,900.00      104%      2,336      $    60
Eagle Creek Woods                73/51      46254     1         -       168   $      204,900.00   $   204,900.00    $   204,900.00      100%      2,574      $    80
Eagles Watch                     46/70      46254     1         -        80   $      118,000.00   $   118,000.00    $   107,500.00       91%      1,474      $    73
Fairway Woods                    46/36      46228     1         -       157   $      179,000.00   $   157,555.00    $   157,555.00       88%      2,846      $    55
Falcon Run Village               46/56      46254     1         3       222   $       63,000.00   $    63,000.00    $    50,651.00       80%      1,707      $    30
Fieldstone                       63/48      46268     1         2       383   $      189,900.00   $   189,900.00    $   180,000.00       95%      2,350      $    77
Guion Pointe                     45/41      46254     1         1       181   $      149,900.00   $   129,900.00    $   119,500.00       80%      2,332      $    51
Hanover Grove                    91/30      46268     1         -        8    $       79,999.00   $    79,999.00    $    79,999.00      100%      2,146      $    37
Huntington Pointe                71/68      46278     1         -       335   $      174,900.00   $   174,900.00    $   160,000.00       91%      2,652      $    60
Lantern Park                     46/59      46254     1         -        95   $      102,000.00   $   102,000.00    $    76,788.00       75%      2,156      $    36
Legendary Hills                  59/56      46278     1         -        23   $       99,900.00   $    99,900.00    $    96,000.00       96%      1,300      $    74
Michigan Highlands               65/24      46260     1         1        58   $      105,500.00   $   105,500.00    $   100,000.00       95%      1,878      $    53
Normandy Farms                   79/67      46278     1         -        79   $      324,900.00   $   324,900.00    $   324,900.00      100%      2,994      $   109
Phillips Carlon                  64/67      46278     1         -       293   $       72,000.00   $    72,000.00    $    60,000.00       83%      1,560      $    38
Pine Woods                       79/45      46268     1         -        42   $      149,900.00   $   149,900.00    $   149,000.00       99%      2,251      $    66
Quail Ridge                      64/56      46278     1         2       130   $       94,900.00   $    94,900.00    $    94,900.00      100%      1,344      $    71
Shadow Pointe                    47/42      46254     1         -        51   $      114,900.00   $   114,900.00    $   105,000.00       91%      2,096      $    50
Stratford Glen                   62/58      46254     1         6        46   $      110,000.00   $   110,000.00    $    91,500.00       83%      1,750      $    52
Sunset At Eagle Creek            42/68      46254     1         1       120   $       92,000.00   $    92,000.00    $    79,000.00       86%      1,136      $    70
The Gardens North                56/50      46254     1         -        18   $       80,000.00   $    80,000.00    $    74,400.00       93%      1,148      $    65
The Glen At Eagle Creek          56/50      46254     1         -       146   $      110,000.00   $   110,000.00    $   110,500.00      100%      1,299      $    85
Thoroughbred Acres               86/79      46278     1         -        11   $      339,900.00   $   339,900.00    $   340,000.00      100%      2,814      $   121
Walden Trace                     86/82      46278     1         -        96   $      164,000.00   $   164,000.00    $   161,900.00       99%      2,600      $    62
West Kessler Homes               56/35      26228     1         1        5    $       64,900.00   $    64,900.00    $    65,500.00      101%      2,074      $    32
Whitehall Addition               47/42      46254     1         1        35   $       88,500.00   $    88,500.00    $    90,000.00      102%      1,408      $    94

Totals - Houses                                      216                89    $ 22,448,589.00     $ 22,338,274.00   $ 21,234,458.00     95%      372,583     $   57




         Foreclosure Study For Pike Township 2007 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
Condos                                           2007 2006

Lafayette Villas HPR                57/60       46254    3     4     120   $   205,000.00   $   205,000.00   $     178,400.00     87%        3,655   $    49
Hidden Bay                          55/63       46254    3     5     112   $   241,675.00   $   241,675.00   $     220,650.00     91%        3,836   $    58
Hidden Creek HPR                    86/82       46278    2     -     110   $   128,500.00   $   128,500.00   $     121,900.00     95%        2,224   $    55
Whitehall Commons                   47/47       46254    4     3     106   $   221,900.00   $   221,900.00   $     202,900.00     91%        4,224   $    48
Parkside at Georgetown HPR          50/48       46254    5     -     102   $   440,900.00   $   433,900.00   $     334,700.00     76%        7,767   $    43
Westhaven Commons HPR               54/48       26254    8     4     100   $   583,800.00   $   583,800.00   $     523,500.00     90%       10,196   $    51
Waterbury Condominium               96/28       46268    1     1     92    $    69,900.00   $    69,900.00   $      65,000.00     93%        1,520   $    43
Bishops Pond                        63/48       46268    1     -     90    $   120,000.00   $   120,000.00   $      84,100.00     70%        1,204   $    70
Traders Pointe Townhomes            86/84       46278    1     -     88    $   154,900.00   $   154,900.00   $     150,000.00     97%        1,666   $    90
Crooked Creek Condominium           82/39       46268    3     2     79    $   157,500.00   $   157,500.00   $     143,600.00     91%        3,227   $    44
Emerald Green                       43/43       26254    1     4     73    $    45,000.00   $    29,900.00   $      29,900.00     66%        1,628   $    18
The Village At Eagle Creek          43/72       46254    2     -     72    $    94,800.00   $    91,800.00   $      79,000.00     83%        1,926   $    41
6500 Georgetown HPR                 68/50       46268    9     1     72    $   709,670.00   $   702,670.00   $     666,149.00     94%       11,236   $    59
Guion Creek Woods                   56/44       46254    1     1     60    $   100,000.00   $   100,000.00   $      70,100.00     70%        1,468   $    48
Wildwood Homes                      69/49       46268    1     6     54    $    30,000.00   $    30,000.00   $      25,000.00     83%        1,103   $    23
Eden Village                        57/49       26254    1     -     52    $    76,500.00   $    76,500.00   $      74,000.00     97%        1,293   $    57
Arbor Village                       50/49       46254    6    11     43    $   470,500.00   $   470,500.00   $     463,500.00     99%        9,021   $    51
Gateway Townhouse                   40/60       26254    4     3     43    $    80,800.00   $    80,800.00   $      71,750.00     89%        4,256   $    17
Yardley Court HPR                   87/29       46268    1     -     32    $    99,000.00   $    99,000.00   $      90,000.00     91%        1,459   $    62
North Willow Woods                  95/24       46268    1     1     10    $    73,000.00   $    73,000.00   $      73,100.00     100%       1,282   $    57

Totals - Condos                                          58          80    $ 4,103,345.00   $ 4,071,245.00   $ 3,667,249.00       89%       74,191   $    49


Community                        Coordinates Zip        Total Total Avg. Orgin List         List Price At    Sale Price At      % of Orig.   Total    Avg $$$
                                 North/West             Sold Sold DOM Price - Total         Close - Total    Close - Total      List Price Square Ft. Per SF
Houses                                                  2007 2006

Fieldstone                          63/48       46268     1    2     383   $   189,900.00   $   189,900.00   $   180,000.00       95%        2,350   $    77
Lloyd Meadows                       79/43       46268     4    1     371   $   465,000.00   $   465,000.00   $   463,376.00       100%       6,876   $    67
Huntington Pointe                   71/68       46278     1    -     335   $   174,900.00   $   174,900.00   $   160,000.00       91%        2,652   $    60
Phillips Carlon                     64/67       46278     1    -     293   $    72,000.00   $    72,000.00   $    60,000.00       83%        1,560   $    38
Falcon Run Village                  46/56       46254     1    3     222   $    63,000.00   $    63,000.00   $    50,651.00       80%        1,707   $    30
Guion Pointe                        45/41       46254     1    1     181   $   149,900.00   $   129,900.00   $   119,500.00       80%        2,332   $    51
Westchester Estates             80/33 & 79/31   46268     2    2     175   $   219,800.00   $   219,800.00   $   210,000.00       96%        4,040   $    52
Eagle Creek Woods                   73/51       46254     1    -     168   $   204,900.00   $   204,900.00   $   204,900.00       100%       2,574   $    80
Liberty Creek/North/Village         56/56       46254    12    9     160   $ 1,306,205.00   $ 1,301,205.00   $ 1,265,464.00       97%       21,911   $    58
Hawthornes                          91/86       46278     3    1     158   $   623,300.00   $   623,300.00   $   621,400.00       100%       7,781   $    80
Fairway Woods                       46/36       46228     1    -     157   $   179,000.00   $   157,555.00   $   157,555.00       88%        2,846   $    55
The Glen At Eagle Creek             56/50       46254     1    -     146   $   110,000.00   $   110,000.00   $   110,500.00       100%       1,299   $    85
No Legal Community                                        8    5     136   $   709,500.00   $   706,500.00   $   612,525.00       86%       13,711   $    45
Quail Ridge                         64/56       46278     1    2     130   $    94,900.00   $    94,900.00   $    94,900.00       100%       1,344   $    71
The Willows                         48/68       46254     4    4     129   $   347,000.00   $   347,000.00   $   343,989.00       99%        5,030   $    68
Deer Creek                          56/51       46254     3    -     128   $   428,500.00   $   409,780.00   $   373,500.00       87%        6,096   $    61
Sunset At Eagle Creek               42/68       46254     1    1     120   $    92,000.00   $    92,000.00   $    79,000.00       86%        1,136   $    70
Cooper Pointe                       62/28       46268    14   11     117   $ 1,360,800.00   $ 1,358,700.00   $ 1,265,089.00       93%       21,582   $    59
Gateway West                        40/60       46254    10   13     115   $   549,400.00   $   539,400.00   $   457,901.00       83%       13,183   $    35
Augusta Green                       73/44       46268     2    6     112   $   184,500.00   $   176,550.00   $   172,550.00       94%        3,193   $    54
Country Air Estates                 49/63       46254     1    -     102   $    94,900.00   $    94,900.00   $    94,900.00       100%       1,732   $    55
Eagle Creek Manor                   63/67       46278     1    -     100   $   134,900.00   $   134,900.00   $   139,900.00       104%       2,336   $    60
Walden Trace                        86/82       46278     1    -     96    $   164,000.00   $   164,000.00   $   161,900.00       99%        2,600   $    62
Lantern Park                        46/59       46254     1    -     95    $   102,000.00   $   102,000.00   $    76,788.00       75%        2,156   $    36
Eagle Bay                           42/71       46254     2    -     94    $   168,400.00   $   168,400.00   $   151,000.00       90%        2,778   $    54
Moller Village                      45/55       46254     4    3     92    $   318,500.00   $   318,500.00   $   303,612.00       95%        5,604   $    54
Augusta Green                       73/44       46268     1    6     88    $   102,000.00   $   102,000.00   $    98,000.00       96%        1,653   $    59
Walden Glen                         85/83       46278     2    -     88    $   423,800.00   $   417,800.00   $   395,100.00       93%        5,093   $    78
Highlands Trail                     44/68       46254     2    1     85    $   186,900.00   $   186,900.00   $   178,500.00       96%        4,192   $    43
Eagles Watch                        46/70       46254     1    -     80    $   118,000.00   $   118,000.00   $   107,500.00       91%        1,474   $    73
Robertson Village               41/38 & 40/38   46228     9   11     79    $   785,600.00   $   785,600.00   $   728,901.00       93%       13,008   $    56
Normandy Farms                      79/67       46278     1    -     79    $   324,900.00   $   324,900.00   $   324,900.00       100%       2,994   $   109
Crooked Creek Heights           81/38 & 79/37   46268     4    4     78    $   466,600.00   $   466,600.00   $   453,800.00       97%        7,862   $    58
Wedgewood                           43/63       46254     7   11     78    $   375,700.00   $   375,700.00   $   338,611.00       90%        8,927   $    38
Falcon Lakes                        62/37       46228     5    4     75    $   694,700.00   $   688,600.00   $   656,300.00       94%       10,004   $    66
Bayswater at Eagle Creek            47/67       46254     6    1     75    $   495,500.00   $   495,500.00   $   483,112.00       97%        8,530   $    57
Morningside                         52/31       46228     5   10     69    $   503,400.00   $   493,400.00   $   461,712.00       92%        8,578   $    54
Eagle Trace Village                 43/39       46254    16   25     68    $ 1,331,900.00   $ 1,331,900.00   $ 1,336,976.00       100%      25,921   $    52
Falcons Nest                        52/58       46254     4    -     68    $   434,900.00   $   434,900.00   $   395,115.00       91%        8,042   $    49
Country Farms                       57/57       46254     4    2     65    $   384,400.00   $   384,400.00   $   338,125.00       88%        5,428   $    62

          Foreclosure Study For Pike Township 2007 by Tim Lord     www.TimLordRealtor.com   www.LIvingInPike.com
                                                                                                                                              Page 12



By Days On Market
Community                       Coordinates Zip        Total Total Avg. Orgin List         List Price At     Sale Price At     % of Orig.   Total    Avg $$$
                                North/West             Sold Sold DOM Price - Total         Close - Total     Close - Total     List Price Square Ft. Per SF
Houses                                                 2007 2006

The Gardens At Eagle Creek         56/51       46254     3    -     61   $   277,000.00    $   277,000.00    $   253,218.00      91%        3,799   $    67
Crooked Creek Villages             71/35       46268    11   10     59   $ 1,451,500.00    $ 1,451,500.00    $ 1,420,751.00      98%       22,789   $    62
Lakeside Manor                     53/53       46254    18   15     58   $ 1,829,875.00    $ 1,829,875.00    $ 1,759,893.00      96%       33,090   $    53
Michigan Highlands                 65/24       46260     1    1     58   $   105,500.00    $   105,500.00    $   100,000.00      95%        1,878   $    53
Wood Creek                         52/52       46254     2    2     57   $   224,900.00    $   224,900.00    $   214,331.00      95%        3,526   $    61
Shadow Pointe                      47/42       46254     1    -     51   $   114,900.00    $   114,900.00    $   105,000.00      91%        2,096   $    50
Wetherburn                         75/30       46268     3    2     48   $   299,500.00    $   299,500.00    $   288,189.00      96%        4,686   $    62
Stratford Glen                     62/58       46254     1    6     46   $   110,000.00    $   110,000.00    $    91,500.00      83%        1,750   $    52
Eagles Landing                     40/73       46254     2    1     44   $   237,900.00    $   237,900.00    $   206,000.00      87%        4,030   $    51
Brookfield Village                 56/45       26254     2    5     43   $   179,000.00    $   179,000.00    $   168,316.00      94%        3,312   $    51
Bretton Wood                       71/31       46268     1    -     42   $   177,610.00    $   177,610.00    $   172,000.00      97%        2,410   $    71
Pine Woods                         79/45       46268     1    -     42   $   149,900.00    $   149,900.00    $   149,000.00      99%        2,251   $    66
Woodland Place                     46/56       46254     2    1     38   $   198,900.00    $   198,900.00    $   194,200.00      98%        3,310   $    59
Gerogetown Crossing                71/51       46268     3    3     36   $   267,900.00    $   267,900.00    $   244,007.00      91%        4,459   $    55
Whitehall Addition                 47/42       46254     1    1     35   $    88,500.00    $    88,500.00    $    90,000.00      102%       1,408   $    94
Coventry Woods                 52/47 & 52/46   46254     2    2     31   $   145,000.00    $   145,000.00    $   125,817.00      87%        2,436   $    52
Cambridge Heights                  48/63       46254     2    -     30   $   221,900.00    $   221,900.00    $   226,900.00      102%       3,655   $    62
Countrybrook                       62/48       46254     1    -     25   $    99,900.00    $    99,900.00    $    99,900.00      100%       1,646   $    61
Legendary Hills                    59/56       46278     1    -     23   $    99,900.00    $    99,900.00    $    96,000.00      96%        1,300   $    74
Ansar Village                      45/41       46224     1    1     20   $   107,900.00    $   107,900.00    $   100,000.00      93%        2,631   $    38
Oakforge Lakes/Woods               60/50       46254     4    2     20   $   360,800.00    $   360,800.00    $   345,473.00      96%        5,497   $    63
The Gardens North                  56/50       46254     1    -     18   $    80,000.00    $    80,000.00    $    74,400.00      93%        1,148   $    65
Augusta Crossing                   72/44       46268     1    3     11   $   102,000.00    $   102,000.00    $    94,512.00      93%        1,980   $    48
Thoroughbred Acres                 86/79       46278     1    -     11   $   339,900.00    $   339,900.00    $   340,000.00      100%       2,814   $   121
Hanover Grove                      91/30       46268     1    -      8   $    79,999.00    $    79,999.00    $    79,999.00      100%       2,146   $    37
West Kessler Homes                 56/35       26228     1    1      5   $    64,900.00    $    64,900.00    $    65,500.00      101%       2,074   $    32

Totals - Houses                                        216          89   $ 22,448,589.00   $ 22,338,274.00   $ 21,234,458.00     95%      372,583   $    57




         Foreclosure Study For Pike Township 2007 by Tim Lord     www.TimLordRealtor.com   www.LIvingInPike.com
                                                                                                                                                        Page 13



By Total Sale Price 2007
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                                                2007    2006

6500 Georgetown HPR              68/50        46268    9        1     72     $      709,670.00    $      702,670.00   $       666,149.00      94%      11,236     $   59
Westhaven Commons HPR            54/48        26254    8        4     100    $      583,800.00    $      583,800.00   $       523,500.00      90%      10,196     $   51
Arbor Village                    50/49        46254    6        11    43     $      470,500.00    $      470,500.00   $       463,500.00      99%       9,021     $   51
Parkside at Georgetown HPR       50/48        46254    5         -    102    $      440,900.00    $      433,900.00   $       334,700.00      76%       7,767     $   43
Hidden Bay                       55/63        46254    3        5     112    $      241,675.00    $      241,675.00   $       220,650.00      91%       3,836     $   58
Whitehall Commons                47/47        46254    4        3     106    $      221,900.00    $      221,900.00   $       202,900.00      91%       4,224     $   48
Lafayette Villas HPR             57/60        46254    3        4     120    $      205,000.00    $      205,000.00   $       178,400.00      87%       3,655     $   49
Traders Pointe Townhomes         86/84        46278    1         -    88     $      154,900.00    $      154,900.00   $       150,000.00      97%       1,666     $   90
Crooked Creek Condominium        82/39        46268    3        2     79     $      157,500.00    $      157,500.00   $       143,600.00      91%       3,227     $   44
Hidden Creek HPR                 86/82        46278    2         -    110    $      128,500.00    $      128,500.00   $       121,900.00      95%       2,224     $   55
Yardley Court HPR                87/29        46268    1         -    32     $       99,000.00    $       99,000.00   $        90,000.00      91%       1,459     $   62
Bishops Pond                     63/48        46268    1         -    90     $      120,000.00    $      120,000.00   $        84,100.00      70%       1,204     $   70
The Village At Eagle Creek       43/72        46254    2         -    72     $       94,800.00    $       91,800.00   $        79,000.00      83%       1,926     $   41
Eden Village                     57/49        26254    1         -    52     $       76,500.00    $       76,500.00   $        74,000.00      97%       1,293     $   57
North Willow Woods               95/24        46268    1        1     10     $       73,000.00    $       73,000.00   $        73,100.00     100%       1,282     $   57
Gateway Townhouse                40/60        26254    4        3     43     $       80,800.00    $       80,800.00   $        71,750.00      89%       4,256     $   17
Guion Creek Woods                56/44        46254    1        1     60     $      100,000.00    $      100,000.00   $        70,100.00      70%       1,468     $   48
Waterbury Condominium            96/28        46268    1        1     92     $       69,900.00    $       69,900.00   $        65,000.00      93%       1,520     $   43
Emerald Green                    43/43        26254    1        4     73     $       45,000.00    $       29,900.00   $        29,900.00      66%       1,628     $   18
Wildwood Homes                   69/49        46268    1        6     54     $       30,000.00    $       30,000.00   $        25,000.00      83%       1,103     $   23

Totals - Condos                                        58              80    $ 4,103,345.00       $ 4,071,245.00      $     3,667,249.00     89%       74,191     $   49


Community                     Coordinates      Zip    Total   Total   Avg.        Orgin List          List Price At       Sale Price At    % of Orig.   Total    Avg $$$
                              North/West              Sold    Sold    DOM        Price - Total        Close - Total       Close - Total    List Price Square Ft. Per SF
Houses                                                2007    2006

Lakeside Manor                    53/53       46254    18       15    58     $    1,829,875.00    $    1,829,875.00   $     1,759,893.00      96%      33,090     $    53
Crooked Creek Villages            71/35       46268    11       10    59     $    1,451,500.00    $    1,451,500.00   $     1,420,751.00      98%      22,789     $    62
Eagle Trace Village               43/39       46254    16       25    68     $    1,331,900.00    $    1,331,900.00   $     1,336,976.00     100%      25,921     $    52
Liberty Creek/North/Village       56/56       46254    12       9     160    $    1,306,205.00    $    1,301,205.00   $     1,265,464.00      97%      21,911     $    58
Cooper Pointe                     62/28       46268    14       11    117    $    1,360,800.00    $    1,358,700.00   $     1,265,089.00      93%      21,582     $    59
Robertson Village             41/38 & 40/38   46228     9       11    79     $      785,600.00    $      785,600.00   $       728,901.00      93%      13,008     $    56
Falcon Lakes                      62/37       46228     5       4     75     $      694,700.00    $      688,600.00   $       656,300.00      94%      10,004     $    66
Hawthornes                        91/86       46278     3       1     158    $      623,300.00    $      623,300.00   $       621,400.00     100%       7,781     $    80
No Legal Community                                      8       5     136    $      709,500.00    $      706,500.00   $       612,525.00      86%      13,711     $    45
Bayswater at Eagle Creek          47/67       46254     6       1     75     $      495,500.00    $      495,500.00   $       483,112.00      97%       8,530     $    57
Lloyd Meadows                     79/43       46268     4       1     371    $      465,000.00    $      465,000.00   $       463,376.00     100%       6,876     $    67
Morningside                       52/31       46228     5       10    69     $      503,400.00    $      493,400.00   $       461,712.00      92%       8,578     $    54
Gateway West                      40/60       46254    10       13    115    $      549,400.00    $      539,400.00   $       457,901.00      83%      13,183     $    35
Crooked Creek Heights         81/38 & 79/37   46268     4       4     78     $      466,600.00    $      466,600.00   $       453,800.00      97%       7,862     $    58
Falcons Nest                      52/58       46254     4        -    68     $      434,900.00    $      434,900.00   $       395,115.00      91%       8,042     $    49
Walden Glen                       85/83       46278     2        -    88     $      423,800.00    $      417,800.00   $       395,100.00      93%       5,093     $    78
Deer Creek                        56/51       46254     3        -    128    $      428,500.00    $      409,780.00   $       373,500.00      87%       6,096     $    61
Oakforge Lakes/Woods              60/50       46254     4       2     20     $      360,800.00    $      360,800.00   $       345,473.00      96%       5,497     $    63
The Willows                       48/68       46254     4       4     129    $      347,000.00    $      347,000.00   $       343,989.00      99%       5,030     $    68
Thoroughbred Acres                86/79       46278     1        -    11     $      339,900.00    $      339,900.00   $       340,000.00     100%       2,814     $   121
Wedgewood                         43/63       46254     7       11    78     $      375,700.00    $      375,700.00   $       338,611.00      90%       8,927     $    38
Country Farms                     57/57       46254     4       2     65     $      384,400.00    $      384,400.00   $       338,125.00      88%       5,428     $    62
Normandy Farms                    79/67       46278     1        -    79     $      324,900.00    $      324,900.00   $       324,900.00     100%       2,994     $   109
Moller Village                    45/55       46254     4       3     92     $      318,500.00    $      318,500.00   $       303,612.00      95%       5,604     $    54
Wetherburn                        75/30       46268     3       2     48     $      299,500.00    $      299,500.00   $       288,189.00      96%       4,686     $    62
The Gardens At Eagle Creek        56/51       46254     3        -    61     $      277,000.00    $      277,000.00   $       253,218.00      91%       3,799     $    67
Gerogetown Crossing               71/51       46268     3       3     36     $      267,900.00    $      267,900.00   $       244,007.00      91%       4,459     $    55
Cambridge Heights                 48/63       46254     2        -    30     $      221,900.00    $      221,900.00   $       226,900.00     102%       3,655     $    62
Wood Creek                        52/52       46254     2       2     57     $      224,900.00    $      224,900.00   $       214,331.00      95%       3,526     $    61
Westchester Estates           80/33 & 79/31   46268     2       2     175    $      219,800.00    $      219,800.00   $       210,000.00      96%       4,040     $    52
Eagles Landing                    40/73       46254     2       1     44     $      237,900.00    $      237,900.00   $       206,000.00      87%       4,030     $    51
Eagle Creek Woods                 73/51       46254     1        -    168    $      204,900.00    $      204,900.00   $       204,900.00     100%       2,574     $    80
Woodland Place                    46/56       46254     2       1     38     $      198,900.00    $      198,900.00   $       194,200.00      98%       3,310     $    59
Fieldstone                        63/48       46268     1       2     383    $      189,900.00    $      189,900.00   $       180,000.00      95%       2,350     $    77
Highlands Trail                   44/68       46254     2       1     85     $      186,900.00    $      186,900.00   $       178,500.00      96%       4,192     $    43
Augusta Green                     73/44       46268     2       6     112    $      184,500.00    $      176,550.00   $       172,550.00      94%       3,193     $    54
Bretton Wood                      71/31       46268     1        -    42     $      177,610.00    $      177,610.00   $       172,000.00      97%       2,410     $    71
Brookfield Village                56/45       26254     2       5     43     $      179,000.00    $      179,000.00   $       168,316.00      94%       3,312     $    51
Walden Trace                      86/82       46278     1        -    96     $      164,000.00    $      164,000.00   $       161,900.00      99%       2,600     $    62
Huntington Pointe                 71/68       46278     1        -    335    $      174,900.00    $      174,900.00   $       160,000.00      91%       2,652     $    60

         Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com          www.LivingInPike.com
                                                                                                                                                       Page 14



By Total Sale Price 2007
Community                    Coordinates      Zip    Total   Total     Avg.        Orgin List        List Price At       Sale Price At    % of Orig.   Total    Avg $$$
                             North/West              Sold    Sold      DOM        Price - Total      Close - Total       Close - Total    List Price Square Ft. Per SF
Houses                                               2007    2006

Fairway Woods                    46/36       46228    1         -       157   $      179,000.00    $    157,555.00   $       157,555.00      88%      2,846      $   55
Eagle Bay                        42/71       46254    2         -       94    $      168,400.00    $    168,400.00   $       151,000.00      90%      2,778      $   54
Pine Woods                       79/45       46268    1         -       42    $      149,900.00    $    149,900.00   $       149,000.00      99%      2,251      $   66
Eagle Creek Manor                63/67       46278    1         -       100   $      134,900.00    $    134,900.00   $       139,900.00     104%      2,336      $   60
Coventry Woods               52/47 & 52/46   46254    2         2       31    $      145,000.00    $    145,000.00   $       125,817.00      87%      2,436      $   52
Guion Pointe                     45/41       46254    1         1       181   $      149,900.00    $    129,900.00   $       119,500.00      80%      2,332      $   51
The Glen At Eagle Creek          56/50       46254    1         -       146   $      110,000.00    $    110,000.00   $       110,500.00     100%      1,299      $   85
Eagles Watch                     46/70       46254    1         -       80    $      118,000.00    $    118,000.00   $       107,500.00      91%      1,474      $   73
Shadow Pointe                    47/42       46254    1         -       51    $      114,900.00    $    114,900.00   $       105,000.00      91%      2,096      $   50
Ansar Village                    45/41       46224    1         1       20    $      107,900.00    $    107,900.00   $       100,000.00      93%      2,631      $   38
Michigan Highlands               65/24       46260    1         1       58    $      105,500.00    $    105,500.00   $       100,000.00      95%      1,878      $   53
Countrybrook                     62/48       46254    1         -       25    $       99,900.00    $     99,900.00   $        99,900.00     100%      1,646      $   61
Legendary Hills                  59/56       46278    1         -       23    $       99,900.00    $     99,900.00   $        96,000.00      96%      1,300      $   74
Country Air Estates              49/63       46254    1         -       102   $       94,900.00    $     94,900.00   $        94,900.00     100%      1,732      $   55
Quail Ridge                      64/56       46278    1         2       130   $       94,900.00    $     94,900.00   $        94,900.00     100%      1,344      $   71
Augusta Crossing                 72/44       46268    1         3       11    $      102,000.00    $    102,000.00   $        94,512.00      93%      1,980      $   48
Stratford Glen                   62/58       46254    1         6       46    $      110,000.00    $    110,000.00   $        91,500.00      83%      1,750      $   52
Whitehall Addition               47/42       46254    1         1       35    $       88,500.00    $     88,500.00   $        90,000.00     102%      1,408      $   94
Hanover Grove                    91/30       46268    1         -        8    $       79,999.00    $     79,999.00   $        79,999.00     100%      2,146      $   37
Sunset At Eagle Creek            42/68       46254    1         1       120   $       92,000.00    $     92,000.00   $        79,000.00      86%      1,136      $   70
Lantern Park                     46/59       46254    1         -       95    $      102,000.00    $    102,000.00   $        76,788.00      75%      2,156      $   36
The Gardens North                56/50       46254    1         -       18    $       80,000.00    $     80,000.00   $        74,400.00      93%      1,148      $   65
West Kessler Homes               56/35       26228    1         1        5    $       64,900.00    $     64,900.00   $        65,500.00     101%      2,074      $   32
Phillips Carlon                  64/67       46278    1         -       293   $       72,000.00    $     72,000.00   $        60,000.00      83%      1,560      $   38
Falcon Run Village               46/56       46254    1         3       222   $       63,000.00    $     63,000.00   $        50,651.00      80%      1,707      $   30

Totals - Houses                                      216                89    $ 22,448,589.00      $ 22,338,274.00   $ 21,234,458.00        95%      372,583     $   57




         Foreclosure Study For Pike Township 2007 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
Condos                                         2007 2006

North Willow Woods                 95/24       46268    1     1   10    $     73,000.00    $      73,000.00   $     73,100.00      100%       1,282   $    57
Arbor Village                      50/49       46254    6    11   43    $    470,500.00    $     470,500.00   $    463,500.00      99%        9,021   $    51
Traders Pointe Townhomes           86/84       46278    1     -   88    $    154,900.00    $     154,900.00   $    150,000.00      97%        1,666   $    90
Eden Village                       57/49       26254    1     -   52    $     76,500.00    $      76,500.00   $     74,000.00      97%        1,293   $    57
Hidden Creek HPR                   86/82       46278    2     -   110   $    128,500.00    $     128,500.00   $    121,900.00      95%        2,224   $    55
6500 Georgetown HPR                68/50       46268    9     1   72    $    709,670.00    $     702,670.00   $    666,149.00      94%       11,236   $    59
Waterbury Condominium              96/28       46268    1     1   92    $     69,900.00    $      69,900.00   $     65,000.00      93%        1,520   $    43
Whitehall Commons                  47/47       46254    4     3   106   $    221,900.00    $     221,900.00   $    202,900.00      91%        4,224   $    48
Hidden Bay                         55/63       46254    3     5   112   $    241,675.00    $     241,675.00   $    220,650.00      91%        3,836   $    58
Crooked Creek Condominium          82/39       46268    3     2   79    $    157,500.00    $     157,500.00   $    143,600.00      91%        3,227   $    44
Yardley Court HPR                  87/29       46268    1     -   32    $     99,000.00    $      99,000.00   $     90,000.00      91%        1,459   $    62
Westhaven Commons HPR              54/48       26254    8     4   100   $    583,800.00    $     583,800.00   $    523,500.00      90%       10,196   $    51
Gateway Townhouse                  40/60       26254    4     3   43    $     80,800.00    $      80,800.00   $     71,750.00      89%        4,256   $    17
Lafayette Villas HPR               57/60       46254    3     4   120   $    205,000.00    $     205,000.00   $    178,400.00      87%        3,655   $    49
The Village At Eagle Creek         43/72       46254    2     -   72    $     94,800.00    $      91,800.00   $     79,000.00      83%        1,926   $    41
Wildwood Homes                     69/49       46268    1     6   54    $     30,000.00    $      30,000.00   $     25,000.00      83%        1,103   $    23
Parkside at Georgetown HPR         50/48       46254    5     -   102   $    440,900.00    $     433,900.00   $    334,700.00      76%        7,767   $    43
Guion Creek Woods                  56/44       46254    1     1   60    $    100,000.00    $     100,000.00   $     70,100.00      70%        1,468   $    48
Bishops Pond                       63/48       46268    1     -   90    $    120,000.00    $     120,000.00   $     84,100.00      70%        1,204   $    70
Emerald Green                      43/43       26254    1     4   73    $     45,000.00    $      29,900.00   $     29,900.00      66%        1,628   $    18

Totals - Condos                                         58         80   $ 4,103,345.00     $ 4,071,245.00     $ 3,667,249.00       89%       74,191   $    49


Community                      Coordinates      Zip    Total Total Avg. Orgin List         List Price At      Sale Price At      % of Orig.   Total    Avg $$$
                               North/West              Sold Sold DOM Price - Total         Close - Total      Close - Total      List Price Square Ft. Per SF
Houses                                                 2007 2006

Eagle Creek Manor                  63/67       46278     1    -   100   $     134,900.00   $     134,900.00   $     139,900.00     104%       2,336   $ 60
Cambridge Heights                  48/63       46254     2    -   30    $     221,900.00   $     221,900.00   $     226,900.00     102%       3,655   $ 62
Whitehall Addition                 47/42       46254     1    1   35    $      88,500.00   $      88,500.00   $      90,000.00     102%       1,408   $ 94
West Kessler Homes                 56/35       26228     1    1    5    $      64,900.00   $      64,900.00   $      65,500.00     101%       2,074   $ 32
The Glen At Eagle Creek            56/50       46254     1    -   146   $     110,000.00   $     110,000.00   $     110,500.00     100%       1,299   $ 85
Eagle Trace Village                43/39       46254    16   25   68    $   1,331,900.00   $   1,331,900.00   $   1,336,976.00     100%      25,921   $ 52
Thoroughbred Acres                 86/79       46278     1    -   11    $     339,900.00   $     339,900.00   $     340,000.00     100%       2,814   $ 121
Normandy Farms                     79/67       46278     1    -   79    $     324,900.00   $     324,900.00   $     324,900.00     100%       2,994   $ 109
Eagle Creek Woods                  73/51       46254     1    -   168   $     204,900.00   $     204,900.00   $     204,900.00     100%       2,574   $ 80
Countrybrook                       62/48       46254     1    -   25    $      99,900.00   $      99,900.00   $      99,900.00     100%       1,646   $ 61
Country Air Estates                49/63       46254     1    -   102   $      94,900.00   $      94,900.00   $      94,900.00     100%       1,732   $ 55
Quail Ridge                        64/56       46278     1    2   130   $      94,900.00   $      94,900.00   $      94,900.00     100%       1,344   $ 71
Hanover Grove                      91/30       46268     1    -    8    $      79,999.00   $      79,999.00   $      79,999.00     100%       2,146   $ 37
Hawthornes                         91/86       46278     3    1   158   $     623,300.00   $     623,300.00   $     621,400.00     100%       7,781   $ 80
Lloyd Meadows                      79/43       46268     4    1   371   $     465,000.00   $     465,000.00   $     463,376.00     100%       6,876   $ 67
Pine Woods                         79/45       46268     1    -   42    $     149,900.00   $     149,900.00   $     149,000.00     99%        2,251   $ 66
The Willows                        48/68       46254     4    4   129   $     347,000.00   $     347,000.00   $     343,989.00     99%        5,030   $ 68
Walden Trace                       86/86       46278     1    -   96    $     164,000.00   $     164,000.00   $     161,900.00     99%        2,600   $ 62
Crooked Creek Villages             71/35       46268    11   10   59    $   1,451,500.00   $   1,451,500.00   $   1,420,751.00     98%       22,789   $ 62
Woodland Place                     46/56       46254     2    1   38    $     198,900.00   $     198,900.00   $     194,200.00     98%        3,310   $ 59
Bayswater at Eagle Creek           47/67       46254     6    1   75    $     495,500.00   $     495,500.00   $     483,112.00     97%        8,530   $ 57
Crooked Creek Heights          81/38 & 79/37   46268     4    4   78    $     466,600.00   $     466,600.00   $     453,800.00     97%        7,862   $ 58
Liberty Creek/North/Village        56/56       46254    12    9   160   $   1,306,205.00   $   1,301,205.00   $   1,265,464.00     97%       21,911   $ 58
Bretton Wood                       71/31       46268     1    -   42    $     177,610.00   $     177,610.00   $     172,000.00     97%        2,410   $ 71
Wetherburn                         75/30       46268     3    2   48    $     299,500.00   $     299,500.00   $     288,189.00     96%        4,686   $ 62
Lakeside Manor                     53/53       46254    18   15   58    $   1,829,875.00   $   1,829,875.00   $   1,759,893.00     96%       33,090   $ 53
Legendary Hills                    59/56       46278     1    -   23    $      99,900.00   $      99,900.00   $      96,000.00     96%        1,300   $ 74
Oakforge Lakes/Woods               60/50       46254     4    2   20    $     360,800.00   $     360,800.00   $     345,473.00     96%        5,497   $ 63
Westchester Estates            80/33 & 79/31   46268     2    2   175   $     219,800.00   $     219,800.00   $     210,000.00     96%        4,040   $ 52
Highlands Trail                    44/68       46254     2    1   85    $     186,900.00   $     186,900.00   $     178,500.00     96%        4,192   $ 43
Moller Village                     45/55       46254     4    3   92    $     318,500.00   $     318,500.00   $     303,612.00     95%        5,604   $ 54
Wood Creek                         52/52       46254     2    2   57    $     224,900.00   $     224,900.00   $     214,331.00     95%        3,526   $ 61
Fieldstone                         63/48       46268     1    2   383   $     189,900.00   $     189,900.00   $     180,000.00     95%        2,350   $ 77
Michigan Highlands                 65/24       46260     1    1   58    $     105,500.00   $     105,500.00   $     100,000.00     95%        1,878   $ 53
Augusta Green                      73/44       46268     2    6   112   $     184,500.00   $     176,550.00   $     172,550.00     94%        3,193   $ 54
Falcon Lakes                       62/37       46228     5    4   75    $     694,700.00   $     688,600.00   $     656,300.00     94%       10,004   $ 66
Brookfield Village                 56/45       26254     2    5   43    $     179,000.00   $     179,000.00   $     168,316.00     94%        3,312   $ 51
The Gardens North                  56/50       46254     1    -   18    $      80,000.00   $      80,000.00   $      74,400.00     93%        1,148   $ 65
Cooper Pointe                      62/28       46268    14   11   117   $   1,360,800.00   $   1,358,700.00   $   1,265,089.00     93%       21,582   $ 59
Robertson Village              41/38 & 40/38   46228     9   11   79    $     785,600.00   $     785,600.00   $     728,901.00     93%       13,008   $ 56

          Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com       www.LivingInPike.com
                                                                                                                                                Page 16



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              Sold Sold DOM Price - Total        Close - Total      Close - Total     List Price Square Ft. Per SF
Houses                                                2007 2006

Ansar Village                     45/41       46224     1    1   20    $   107,900.00    $     107,900.00   $    100,000.00     93%        2,631   $    38
Augusta Crossing                  72/44       46268     1    3   11    $   102,000.00    $     102,000.00   $     94,512.00     93%        1,980   $    48
Walden Glen                       85/83       46278     2    -   88    $   423,800.00    $     417,800.00   $    395,100.00     93%        5,093   $    78
Morningside                       52/31       46228     5   10   69    $   503,400.00    $     493,400.00   $    461,712.00     92%        8,578   $    54
Huntington Pointe                 71/68       46278     1    -   335   $   174,900.00    $     174,900.00   $    160,000.00     91%        2,652   $    60
The Gardens At Eagle Creek        56/51       46254     3    -   61    $   277,000.00    $     277,000.00   $    253,218.00     91%        3,799   $    67
Shadow Pointe                     47/42       46254     1    -   51    $   114,900.00    $     114,900.00   $    105,000.00     91%        2,096   $    50
Eagles Watch                      46/70       46254     1    -   80    $   118,000.00    $     118,000.00   $    107,500.00     91%        1,474   $    73
Gerogetown Crossing               71/51       46268     3    3   36    $   267,900.00    $     267,900.00   $    244,007.00     91%        4,459   $    55
Falcons Nest                      52/58       46254     4    -   68    $   434,900.00    $     434,900.00   $    395,115.00     91%        8,042   $    49
Wedgewood                         43/63       46254     7   11   78    $   375,700.00    $     375,700.00   $    338,611.00     90%        8,927   $    38
Eagle Bay                         42/71       46254     2    -   94    $   168,400.00    $     168,400.00   $    151,000.00     90%        2,778   $    54
Fairway Woods                     46/36       46228     1    -   157   $   179,000.00    $     157,555.00   $    157,555.00     88%        2,846   $    55
Country Farms                     57/57       46254     4    2   65    $   384,400.00    $     384,400.00   $    338,125.00     88%        5,428   $    62
Deer Creek                        56/51       46254     3    -   128   $   428,500.00    $     409,780.00   $    373,500.00     87%        6,096   $    61
Coventry Woods                52/47 & 52/46   46254     2    2   31    $   145,000.00    $     145,000.00   $    125,817.00     87%        2,436   $    52
Eagles Landing                    40/73       46254     2    1   44    $   237,900.00    $     237,900.00   $    206,000.00     87%        4,030   $    51
No Legal Community                                      8    5   136   $   709,500.00    $     706,500.00   $    612,525.00     86%       13,711   $    45
Sunset At Eagle Creek             42/68       46254     1    1   120   $    92,000.00    $      92,000.00   $     79,000.00     86%        1,136   $    70
Gateway West                      40/60       46254    10   13   115   $   549,400.00    $     539,400.00   $    457,901.00     83%       13,183   $    35
Phillips Carlon                   64/67       46278     1    -   293   $    72,000.00    $      72,000.00   $     60,000.00     83%        1,560   $    38
Stratford Glen                    62/58       46254     1    6   46    $   110,000.00    $     110,000.00   $     91,500.00     83%        1,750   $    52
Falcon Run Village                46/56       46254     1    3   222   $    63,000.00    $      63,000.00   $     50,651.00     80%        1,707   $    30
Guion Pointe                      45/41       46254     1    1   181   $   149,900.00    $     129,900.00   $    119,500.00     80%        2,332   $    51
Lantern Park                      46/59       46254     1    -   95    $   102,000.00    $     102,000.00   $     76,788.00     75%        2,156   $    36

Totals - Houses                                       216         89   $ 22,448,589.00   $ 22,338,274.00    $ 21,234,458.00     95%      372,583   $    57




         Foreclosure Study For Pike Township 2007 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
Condos                                        2007 2006

Traders Pointe Townhomes          86/84       46278    1     -   88    $   154,900.00   $     154,900.00   $    150,000.00     97%        1,666   $    90
Bishops Pond                      63/48       46268    1     -   90    $   120,000.00   $     120,000.00   $     84,100.00     70%        1,204   $    70
Yardley Court HPR                 87/29       46268    1     -   32    $    99,000.00   $      99,000.00   $     90,000.00     91%        1,459   $    62
6500 Georgetown HPR               68/50       46268    9     1   72    $   709,670.00   $     702,670.00   $    666,149.00     94%       11,236   $    59
Hidden Bay                        55/63       46254    3     5   112   $   241,675.00   $     241,675.00   $    220,650.00     91%        3,836   $    58
North Willow Woods                95/24       46268    1     1   10    $    73,000.00   $      73,000.00   $     73,100.00     100%       1,282   $    57
Eden Village                      57/49       26254    1     -   52    $    76,500.00   $      76,500.00   $     74,000.00     97%        1,293   $    57
Hidden Creek HPR                  86/82       46278    2     -   110   $   128,500.00   $     128,500.00   $    121,900.00     95%        2,224   $    55
Westhaven Commons HPR             54/48       26254    8     4   100   $   583,800.00   $     583,800.00   $    523,500.00     90%       10,196   $    51
Arbor Village                     50/49       46254    6    11   43    $   470,500.00   $     470,500.00   $    463,500.00     99%        9,021   $    51
Lafayette Villas HPR              57/60       46254    3     4   120   $   205,000.00   $     205,000.00   $    178,400.00     87%        3,655   $    49
Whitehall Commons                 47/47       46254    4     3   106   $   221,900.00   $     221,900.00   $    202,900.00     91%        4,224   $    48
Guion Creek Woods                 56/44       46254    1     1   60    $   100,000.00   $     100,000.00   $     70,100.00     70%        1,468   $    48
Crooked Creek Condominium         82/39       46268    3     2   79    $   157,500.00   $     157,500.00   $    143,600.00     91%        3,227   $    44
Parkside at Georgetown HPR        50/48       46254    5     -   102   $   440,900.00   $     433,900.00   $    334,700.00     76%        7,767   $    43
Waterbury Condominium             96/28       46268    1     1   92    $    69,900.00   $      69,900.00   $     65,000.00     93%        1,520   $    43
The Village At Eagle Creek        43/72       46254    2     -   72    $    94,800.00   $      91,800.00   $     79,000.00     83%        1,926   $    41
Wildwood Homes                    69/49       46268    1     6   54    $    30,000.00   $      30,000.00   $     25,000.00     83%        1,103   $    23
Emerald Green                     43/43       26254    1     4   73    $    45,000.00   $      29,900.00   $     29,900.00     66%        1,628   $    18
Gateway Townhouse                 40/60       26254    4     3   43    $    80,800.00   $      80,800.00   $     71,750.00     89%        4,256   $    17

Totals - Condos                                        58         80   $ 4,103,345.00   $ 4,071,245.00     $ 3,667,249.00      89%       74,191   $    49


Community                     Coordinates      Zip    Total Total Avg. Orgin List       List Price At      Sale Price At     % of Orig.   Total    Avg $$$
                              North/West              Sold Sold DOM Price - Total       Close - Total      Close - Total     List Price Square Ft. Per SF
Houses                                                2007 2006

Thoroughbred Acres                86/79       46278     1    -   11    $   339,900.00   $   339,900.00     $   340,000.00      100%       2,814   $ 121
Normandy Farms                    79/67       46278     1    -   79    $   324,900.00   $   324,900.00     $   324,900.00      100%       2,994   $ 109
Whitehall Addition                47/42       46254     1    1   35    $    88,500.00   $    88,500.00     $    90,000.00      102%       1,408   $ 94
The Glen At Eagle Creek           56/50       46254     1    -   146   $   110,000.00   $   110,000.00     $   110,500.00      100%       1,299   $ 85
Eagle Creek Woods                 73/51       46254     1    -   168   $   204,900.00   $   204,900.00     $   204,900.00      100%       2,574   $ 80
Hawthornes                        91/86       46278     3    1   158   $   623,300.00   $   623,300.00     $   621,400.00      100%       7,781   $ 80
Walden Glen                       85/83       46278     2    -   88    $   423,800.00   $   417,800.00     $   395,100.00      93%        5,093   $ 78
Fieldstone                        63/48       46268     1    2   383   $   189,900.00   $   189,900.00     $   180,000.00      95%        2,350   $ 77
Legendary Hills                   59/56       46278     1    -   23    $    99,900.00   $    99,900.00     $    96,000.00      96%        1,300   $ 74
Eagles Watch                      46/70       46254     1    -   80    $   118,000.00   $   118,000.00     $   107,500.00      91%        1,474   $ 73
Quail Ridge                       64/56       46278     1    2   130   $    94,900.00   $    94,900.00     $    94,900.00      100%       1,344   $ 71
Bretton Wood                      71/31       46268     1    -   42    $   177,610.00   $   177,610.00     $   172,000.00      97%        2,410   $ 71
Sunset At Eagle Creek             42/68       46254     1    1   120   $    92,000.00   $    92,000.00     $    79,000.00      86%        1,136   $ 70
The Willows                       48/68       46254     4    4   129   $   347,000.00   $   347,000.00     $   343,989.00      99%        5,030   $ 68
Lloyd Meadows                     79/43       46268     4    1   371   $   465,000.00   $   465,000.00     $   463,376.00      100%       6,876   $ 67
The Gardens At Eagle Creek        56/51       46254     3    -   61    $   277,000.00   $   277,000.00     $   253,218.00      91%        3,799   $ 67
Pine Woods                        79/45       46268     1    -   42    $   149,900.00   $   149,900.00     $   149,000.00      99%        2,251   $ 66
Falcon Lakes                      62/37       46228     5    4   75    $   694,700.00   $   688,600.00     $   656,300.00      94%       10,004   $ 66
The Gardens North                 56/50       46254     1    -   18    $    80,000.00   $    80,000.00     $    74,400.00      93%        1,148   $ 65
Oakforge Lakes/Woods              60/50       46254     4    2   20    $   360,800.00   $   360,800.00     $   345,473.00      96%        5,497   $ 63
Cambridge Heights                 48/63       46254     2    -   30    $   221,900.00   $   221,900.00     $   226,900.00      102%       3,655   $ 62
Crooked Creek Villages            71/35       46268    11   10   59    $ 1,451,500.00   $ 1,451,500.00     $ 1,420,751.00      98%       22,789   $ 62
Walden Trace                      86/86       46278     1    -   96    $   164,000.00   $   164,000.00     $   161,900.00      99%        2,600   $ 62
Wetherburn                        75/30       46268     3    2   48    $   299,500.00   $   299,500.00     $   288,189.00      96%        4,686   $ 62
Country Farms                     57/57       46254     4    2   65    $   384,400.00   $   384,400.00     $   338,125.00      88%        5,428   $ 62
Countrybrook                      62/48       46254     1    -   25    $    99,900.00   $    99,900.00     $    99,900.00      100%       1,646   $ 61
Wood Creek                        52/52       46254     2    2   57    $   224,900.00   $   224,900.00     $   214,331.00      95%        3,526   $ 61
Deer Creek                        56/51       46254     3    -   128   $   428,500.00   $   409,780.00     $   373,500.00      87%        6,096   $ 61
Eagle Creek Manor                 63/67       46278     1    -   100   $   134,900.00   $   134,900.00     $   139,900.00      104%       2,336   $ 60
Huntington Pointe                 71/68       46278     1    -   335   $   174,900.00   $   174,900.00     $   160,000.00      91%        2,652   $ 60
Woodland Place                    46/56       46254     2    1   38    $   198,900.00   $   198,900.00     $   194,200.00      98%        3,310   $ 59
Cooper Pointe                     62/28       46268    14   11   117   $ 1,360,800.00   $ 1,358,700.00     $ 1,265,089.00      93%       21,582   $ 59
Crooked Creek Heights         81/38 & 79/37   46268     4    4   78    $   466,600.00   $   466,600.00     $   453,800.00      97%        7,862   $ 58
Liberty Creek/North/Village       56/56       46254    12    9   160   $ 1,306,205.00   $ 1,301,205.00     $ 1,265,464.00      97%       21,911   $ 58
Bayswater at Eagle Creek          47/67       46254     6    1   75    $   495,500.00   $   495,500.00     $   483,112.00      97%        8,530   $ 57
Robertson Village             41/38 & 40/38   46228     9   11   79    $   785,600.00   $   785,600.00     $   728,901.00      93%       13,008   $ 56
Country Air Estates               49/63       46254     1    -   102   $    94,900.00   $    94,900.00     $    94,900.00      100%       1,732   $ 55
Gerogetown Crossing               71/51       46268     3    3   36    $   267,900.00   $   267,900.00     $   244,007.00      91%        4,459   $ 55
Fairway Woods                     46/36       46228     1    -   157   $   179,000.00   $   157,555.00     $   157,555.00      88%        2,846   $ 55
Augusta Green                     73/44       46268     2    6   112   $   184,500.00   $   176,550.00     $   172,550.00      94%        3,193   $ 54

         Foreclosure Study For PIke Township 2007 by Tim Lord    www.TimLordRealtor.com     www.LivingInPike.com
                                                                                                                                               Page 18



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              Sold Sold DOM Price - Total        Close - Total     Close - Total     List Price Square Ft. Per SF
Houses                                                2007 2006

Moller Village                    45/55       46254     4    3   92    $   318,500.00    $   318,500.00    $   303,612.00      95%        5,604   $    54
Morningside                       52/31       46228     5   10   69    $   503,400.00    $   493,400.00    $   461,712.00      92%        8,578   $    54
Eagle Bay                         42/71       46254     2    -   94    $   168,400.00    $   168,400.00    $   151,000.00      90%        2,778   $    54
Lakeside Manor                    53/53       46254    18   15   58    $ 1,829,875.00    $ 1,829,875.00    $ 1,759,893.00      96%       33,090   $    53
Michigan Highlands                65/24       46260     1    1   58    $   105,500.00    $   105,500.00    $   100,000.00      95%        1,878   $    53
Eagle Trace Village               43/39       46254    16   25   68    $ 1,331,900.00    $ 1,331,900.00    $ 1,336,976.00      100%      25,921   $    52
Westchester Estates           80/33 & 79/31   46268     2    2   175   $   219,800.00    $   219,800.00    $   210,000.00      96%        4,040   $    52
Coventry Woods                52/47 & 52/46   46254     2    2   31    $   145,000.00    $   145,000.00    $   125,817.00      87%        2,436   $    52
Stratford Glen                    62/58       46254     1    6   46    $   110,000.00    $   110,000.00    $    91,500.00      83%        1,750   $    52
Brookfield Village                56/45       26254     2    5   43    $   179,000.00    $   179,000.00    $   168,316.00      94%        3,312   $    51
Eagles Landing                    40/73       46254     2    1   44    $   237,900.00    $   237,900.00    $   206,000.00      87%        4,030   $    51
Guion Pointe                      45/41       46254     1    1   181   $   149,900.00    $   129,900.00    $   119,500.00      80%        2,332   $    51
Shadow Pointe                     47/42       46254     1    -   51    $   114,900.00    $   114,900.00    $   105,000.00      91%        2,096   $    50
Falcons Nest                      52/58       46254     4    -   68    $   434,900.00    $   434,900.00    $   395,115.00      91%        8,042   $    49
Augusta Crossing                  72/44       46268     1    3   11    $   102,000.00    $   102,000.00    $    94,512.00      93%        1,980   $    48
No Legal Community                                      8    5   136   $   709,500.00    $   706,500.00    $   612,525.00      86%       13,711   $    45
Highlands Trail                   44/68       46254     2    1   85    $   186,900.00    $   186,900.00    $   178,500.00      96%        4,192   $    43
Ansar Village                     45/41       46224     1    1   20    $   107,900.00    $   107,900.00    $   100,000.00      93%        2,631   $    38
Wedgewood                         43/63       46254     7   11   78    $   375,700.00    $   375,700.00    $   338,611.00      90%        8,927   $    38
Phillips Carlon                   64/67       46278     1    -   293   $    72,000.00    $    72,000.00    $    60,000.00      83%        1,560   $    38
Hanover Grove                     91/30       46268     1    -    8    $    79,999.00    $    79,999.00    $    79,999.00      100%       2,146   $    37
Lantern Park                      46/59       46254     1    -   95    $   102,000.00    $   102,000.00    $    76,788.00      75%        2,156   $    36
Gateway West                      40/60       46254    10   13   115   $   549,400.00    $   539,400.00    $   457,901.00      83%       13,183   $    35
West Kessler Homes                56/35       26228     1    1    5    $    64,900.00    $    64,900.00    $    65,500.00      101%       2,074   $    32
Falcon Run Village                46/56       46254     1    3   222   $    63,000.00    $    63,000.00    $    50,651.00      80%        1,707   $    30

Totals - Houses                                       216         89   $ 22,448,589.00   $ 22,338,274.00   $ 21,234,458.00     95%      372,583   $    57




         Foreclosure Study For PIke Township 2007 by Tim Lord    www.TimLordRealtor.com     www.LivingInPike.com
                                                                                                     Page 19

By Year Built

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

CND         Bishops Pond                    2005            CND         Eden Village                     1997
CND         Traders Pointe Townhomes        2005
                                                            CND         Hidden Creek                     1996
CND         Westhaven Commons               2004            CND         Lafayette Villas                 1996
CND         Westhaven Commons               2004            CND         Lafayette Villas                 1996

CND         6500 Georgetown                 2003            CND         Hidden Creek                     1995
CND         Parkside At Georgetown          2003            CND         Lafayette Villas                 1995
CND         Parkside At Georgetown          2003
CND         Parkside At Georgetown          2003            CND         Yardley Court                    1992
CND         Parkside At Georgetown          2003
CND         Parkside At Georgetown          2003            CND         The Village At Eagle Creek       1990
CND         Westhaven Commons               2003
CND         Westhaven Commons               2003            CND         Hidden Bay                       1989
CND         Westhaven Commons               2003
                                                            CND         Hidden Bay                       1988
CND         Westhaven Commons               2002            CND         Hidden Bay                       1988

CND         6500 Georgetown                 2001            CND         The Village At Eagle Creek       1987
CND         6500 Georgetown                 2001
CND         Westhaven Commons               2001            CND         North Willow Woods               1985
CND         Westhaven Commons               2001
                                                            CND         Waterbury                        1974
CND         6500 Georgetown                 2000
CND         6500 Georgetown                 2000            CND         Whitehall Commons                1973
CND         6500 Georgetown                 2000            CND         Whitehall Commons                1973
CND         6500 Georgetown                 2000            CND         Whitehall Commons                1973
CND         Guion Creek Woods               2000            CND         Whitehall Commons                1973
                                                            CND         Wildwood                         1973
CND         6500 Georgetown                 1999
CND         6500 Georgetown                 1999            CND         Crooked Creek                    1972
CND         Arbor Village                   1999            CND         Crooked Creek                    1972
CND         Arbor Village                   1999            CND         Crooked Creek                    1972
CND         Arbor Village                   1999            CND         Emerald Green                    1972

CND         Arbor Village                   1998            CND         Gateway Townhouse                1964
CND         Arbor Village                   1998            CND         Gateway Townhouse                1964
CND         Arbor Village                   1998            CND         Gateway Townhouse                1964
                                                            CND         Gateway Townhouse                1964




  Foreclosure Study For Pike Township 2007 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         Thoroughbred Acres              2005            RES         Brookfield Village               1999
                                                            RES         Brookfield Village               1999
RES         Eagle Trace Village             2002            RES         Cambridge Heights                1999
RES         Eagle Trace Village             2002            RES         Cooper Pointe                    1999
RES         Lloyd Meadows                   2002            RES         Cooper Pointe                    1999
                                                            RES         Cooper Pointe                    1999
RES         Eagle Trace Village             2001            RES         Crooked Creek Villages           1999
RES         Eagle Trace Village             2001            RES         Crooked Creek Villages           1999
RES         Eagle Trace Village             2001            RES         Deer Creek                       1999
RES         Eagle Trace Village             2001            RES         Fairway Woods                    1999
RES         Eagle Trace Village             2001            RES         Falcon Lakes                     1999
RES         Eagle Trace Village             2001            RES         Falcons Nest                     1999
RES         Eagle Trace Village             2001            RES         Guion Pointe                     1999
RES         Eagle Trace Village             2001            RES         Lakeside Manor                   1999
RES         Eagle Trace Village             2001            RES         Lakeside Manor                   1999
RES         Eagle Trace Village             2001            RES         Lakeside Manor                   1999
RES         Eagle Trace Village             2001            RES         Lakeside Manor                   1999
RES         Hawthornes at the Crossing      2001            RES         Moller Village                   1999
RES         Hawthornes at the Crossing      2001            RES         Moller Village                   1999
RES         Lakeside Manor                  2001            RES         Moller Village                   1999
RES         Lakeside Manor                  2001            RES         Moller Village                   1999
RES         Lloyd Meadows                   2001            RES         Morningside                      1999
RES         Lloyd Meadows                   2001            RES         Walden Glen                      1999
RES         Lloyd Meadows                   2001            RES         Walden Glen                      1999
RES         Wetherburn                      2001            RES         Walden Trace                     1999
RES         Wetherburn                      2001            RES         Wood Creek                       1999
RES         Wetherburn                      2001
                                                            RES         Bayswater At Eagle Creek         1998
RES         Augusta Crossing                2000            RES         Bayswater At Eagle Creek         1998
RES         Cambridge Heights               2000            RES         Cooper Pointe                    1998
RES         Eagle Creek Manor               2000            RES         Cooper Pointe                    1998
RES         Eagle Trace Village             2000            RES         Cooper Pointe                    1998
RES         Eagle Trace Village             2000            RES         Crooked Creek Villages           1998
RES         Eagle Trace Village             2000            RES         Crooked Creek Villages           1998
RES         Lakeside Manor                  2000            RES         Crooked Creek Villages           1998
RES         Lakeside Manor                  2000            RES         Crooked Creek Villages           1998
RES         Lakeside Manor                  2000            RES         Falcon Lakes                     1998
RES         Lakeside Manor                  2000            RES         Falcons Nest                     1998
RES         Lakeside Manor                  2000            RES         Falcons Nest                     1998
RES         Lakeside Manor                  2000            RES         Falcons Nest                     1998
RES         Lakeside Manor                  2000            RES         Lakeside Manor                   1998
RES         Morningside                     2000            RES         Lakeside Manor                   1998
RES         Morningside                     2000            RES         Lakeside Manor                   1998
RES         Morningside                     2000            RES         Normandy Farms                   1998
RES         Wood Creek                      2000




  Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com   www.LivingInPike.com
                                                                                                     Page 21

By Year Built

Houses      Legal Description            Year Built         Houses      Legal Description             Year Built

RES         Bayswater At Eagle Creek        1997            RES         Bretton Wood                     1992
RES         Bayswater At Eagle Creek        1997            RES         Oakforge Lakes                   1992
RES         Cooper Pointe                   1997            RES         Pine Woods                       1992
RES         Cooper Pointe                   1997            RES         Robertson Village                1992
RES         Cooper Pointe                   1997            RES         Robertson Village                1992
RES         Crooked Creek Villages          1997            RES         The Gardens North                1992
RES         Crooked Creek Villages          1997
RES         Falcon Lakes                    1997            RES         Ansar Village                    1991
RES         Falcon Lakes                    1997            RES         Countrybrook                     1991
RES         Falcon Lakes                    1997            RES         Deer Creek                       1991
RES         Lakeside Manor                  1997            RES         Georgetown Crossing              1991
RES         Lakeside Manor                  1997            RES         Huntington Pointe                1991
RES         Liberty Creek                   1997            RES         The Gardens At Eagle Creek       1991
RES         The Willows                     1997            RES         The Gardens At Eagle Creek       1991
                                                            RES         The Willows                      1991
RES         Augusta Green                   1996
RES         Augusta Green                   1996            RES         Country Farms                    1990
RES         Bayswater At Eagle Creek        1996            RES         Coventry Woods                   1990
RES         Cooper Pointe                   1996            RES         Crooked Creek Heights            1990
RES         Cooper Pointe                   1996            RES         Crooked Creek Heights            1990
RES         Crooked Creek Villages          1996            RES         Eagles Watch                     1990
RES         Liberty Creek                   1996            RES         Shadow Pointe                    1990
RES         Liberty Creek                   1996            RES         The Glen At Eagle Creek          1990
RES         Liberty Creek                   1996
RES         Robertson Village               1996            RES         Country Farms                    1989
RES         Stratford Glen                  1996            RES         Country Farms                    1989
RES         Woodland Place                  1996            RES         Falcon Run                       1989
                                                            RES         Georgetown Crossing              1989
RES         Bayswater At Eagle Creek        1995            RES         Liberty Creek                    1989
RES         Cooper Pointe                   1995            RES         Robertson Village                1989
RES         Cooper Pointe                   1995            RES         Robertson Village                1989
RES         Crooked Creek Villages          1995
RES         Crooked Creek Villages          1995            RES         Country Farms                    1988
RES         Eagles Landing                  1995            RES         Eagle Creek Woods                1988
RES         Eagles Landing                  1995            RES         Highlands Trail                  1988
RES         Fieldstone @ Twin Creeks        1995            RES         Robertson Village                1988
RES         Hawthornes                      1995            RES         Robertson Village                1988
RES         Liberty Creek                   1995            RES         Sunset At Eagle Creek            1988
RES         Liberty Creek                   1995
RES         Robertson Village               1995            RES         Coventry Woods                   1987
RES         Woodland Place                  1995            RES         Highlands Trail                  1987
                                                            RES         Liberty Creek                    1987
RES         Cooper Pointe                   1994            RES         Quail Ridge                      1987
RES         Deer Creek                      1994
RES         Oakforge Woods                  1994            RES         Liberty Creek                    1986
RES         Robertson Village               1994
RES         The Gardens At Eagle Creek      1994            RES         Eagle Bay                        1985
RES         The Willows                     1994            RES         Georgetown Crossing              1985
RES         The Willows                     1994            RES         Liberty Creek                    1985

RES         Oakforge Lakes                  1993            RES         Liberty Creek                    1984
RES         Oakforge Lakes                  1993

  Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com   www.LivingInPike.com
                                                                                                  Page 22


By Year Built

Houses      Legal Description            Year Built         Houses      Legal Description           Year Built

RES         Crooked Creek Heights           1983            RES         Country Air Estates              1963
RES         Eagle Bay                       1983            RES         Gateway West                     1963
                                                            RES         Gateway West                     1963
RES         Crooked Creek Heights           1981            RES         No Legal Community               1963

RES         No Legal Community              1980            RES         Gateway West                     1962
                                                            RES         Gateway West                     1962
                                                            RES         West Kessler Homes               1962
RES         Lantern Park                    1976
RES         Wedgewood                       1976            RES         Morningside                      1961
RES         Wedgewood                       1976
                                                            RES         Legendary Hills                  1959
RES         Wedgewood                       1972            RES         No Legal Community               1959
RES         Whitehall Addition              1972            RES         Westchester Estates              1959

RES         Wedgewood                       1971            RES         No Legal Community               1958
RES         Westchester Estates             1971
                                                            RES         No Legal Community               1956
RES         Wedgewood                       1970
                                                            RES         No Legal Community               1953
RES         Hanover Grove                   1969
RES         Wedgewood                       1969            RES         No Legal Community               1951
RES         Wedgewood                       1969
                                                            RES         Michigan Highlands               1948
RES         Gateway West                    1967
                                                            RES         Phillips Carlon                  1946
RES         Gateway West                    1966
                                                            RES         No Legal Community               1940
RES         Gateway West                    1965

RES         Gateway West                    1964
RES         Gateway West                    1964
RES         Gateway West                    1964
RES         Liberty Creek                   1964




  Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com   www.LivingInPike.com
                                                                                                                         Page 23




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

    6500 Georgetown                  *      9          1       3        1        3          17     $54,500 - $107,500      21
    Arbor Village                           6          11      1        9        5          32     $67,000 - $101,900      15
    Bishops Pond                     *      1          0       0        0        0           1     $84,100 - $149,900      4
    Crooked Creek Condos                    3          2       0        0        1           6      $42,000 - $84,900      9
    Eden Village                            1          0       2        1        0           4     $74,000 - $101,000      3
    Emerald Green                           1          4       1        0        3           9      $27,500 - $29,900      3
    Gateway Townhomes                       4          3       1        2        0          10      $15,500 - $23,000      6
    Guion Creek Woods                       1          1       7        7        4          20     $70,100 - $128,500      6
    Hidden Bay                              3          5       1        0        1          10     $62,000 - $112,000      11
    Hidden Creek                            2          1       0        0        1           4      $58,900 - $97,500      15
    Lafayette Villas                 *      3          4       1        3        3          14      $51,500 - $84,000      12
    North Willow Woods                      1          1       0        0        0           2     $72,900 - $130,800      9
    Parkside At Georgetown           *      5          1       0        0        0           6     $58,200 - $104,990      11
    The Village at Eagle Creek              2          0       1        1        1           5      $37,000 - $75,000      9
    Traders PointeTownhomes                 1          0       0        0        0           1     $150,000 - $180,100     10
    Waterbury                               1          1       1        0        0           3      $65,000 - $81,000      4
    Westhaven Commons                *      8          4       4        1        0          17      $45,000 - $81,000      13
    Whitehall Commons                       4          3       2        1        1          11      $46,000 - $84,000      15
    Wildwood Homes                          1          6       4        4        3          18      $25,000 - $65,200      11
    Yardley Court                           1          0       0        1        0           2     $89,000 - $113,000      8

    Totals                                 58          48      29       31       26         192                            195

    * These communities are "Watch Communties". They either had jumps in 2007 or first half of 2008.




                                                                                                                          2007
                                                                                                        2007 Total        Total
                                   See                                                                 Community         Houses
     Houses                       Below 2007        2006     2005     2004      2003       Total       Price Range        Sold


    Ansar Village                           1          1        2       0        0           4     $100,000 - $133,000     2
    Augusta Crossing                        1          3        2       1        0           7      94512 - $124,500       2
    Augusta Green                           2          6        7       1        2          18     $74,550 - $125,000      8
    Bayswater at Eagle Creek                6          1       10       2        1          20     $71,112 - $110,000      21
    Bretton Wood                            1          0        1       1        2           5     $164,000 - $185,000     5
    Brookfield Village               *      2          5        5       2        3          17     $72,316 - $110,300      3
    Cambridge Heights                       2          0        2       1        1           6     $108,000 - $116,900     4
    Cooper Pointe                          14          10      16       9        5          54     $70,000 - $128,000      24
    Country Air Estates                     1          0        0       0        0           1     $94,900 - $126,500      4
    Country Farms                           4          2        1       0        0           7     $73,000 - $113,000      10
    Countrybrook                            1          1        0       0        1           3     $99,900 - $123,000      3
    Coventry Woods                          2          2        3       0        2           9      $80,005 - $89,900      6
    Crooked Creek Heights            *      4          4        5       2        1          16     $79,900 - $218,500      46
    Crooked Creek Villages           *     11          10      13       4        2          40     $96,051 - $194,900      37
    Deer Creek                              3          0        2       1        1           7     $120,000 - $187,000     8
    Eagle Bay                               2          0        0       1        0           3     $73,000 - $120,000      8
    Eagle Creek Manor                       1          0        1       0        0           2     $139,900 - $165,500     2
    Eagle Creek Woods                       1          0        0       0        0           1     $204,900 - $272,900     6
    Eagle Trace Village              *     16          25      19       5        2          67      $65,000 - $95,000      19
    Eagles Landing                          2          2        0       1        0           5     $98,000 - $150,000      6




Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com       www.LivingInPike.com
                                                                                                                         Page 24




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

    Eagles Watch                            1          0        4        2       1           8     $91,000 - $179,000      25
    Fairway Woods                           1          0        0        1       0           2     $152,500 - $157,555     2
    Falcon Lakes                            5          4        4        1       1          15     $92,500 - $176,500      16
    Falcon Run Village                      1          3        3        0       0           7      $50,651 - $94,999      5
    Falcons Nest                            4          0        4        2       1          11     $95,500 - $144,900      8
    Fieldstone at Twin Creeks               1          2        1        0       0           4     $180,000 - $208,000     5
    Gateway West                     *     10          13      12       10       5          50     $33,500 - $114,500      35
    Georgetown Crossing                     3          3        0        2       0           8     $69,852 - $114,000      8
    Guion Pointe                            1          1        4        0       0           6         $119,500            1
    Hanover Grove                           1          0        0        0       0           1     $79,999 - $155,000      2
    Hawthornes                              3          1        2        2       0           8     $185,500 - $280,000     5
    Highlands Trail                         2          1        2        1       1           7     $65,500 - $112,000      5
    Huntington Pointe                       1          0        3        0       0           4     $160,000 - $260,000     8
    Lakeside Manor                   *     18          15      14        4       5          56     $64,700 - $148,000      29
    Lantern Park                     *      1          0        0        0       0           1     $76,788 - $110,000      2
    Legendary Hills                         1          0        0        0       0           1     $84,500 - $115,000      5
    Liberty Creek/North/Village      *     12          9       17       16       4          58     $68,200 - $158,000      71
    Lloyd Meadows                    *      4          1        1        0       0           6     $94,500 - $189,900      6
    Michigan Highlands                      1          1        1        1       0           4         $100,000            1
    Moller Village                          4          3        1        1       3          12      $65,612 - $98,000      6
    Morningside                             5          9       11        3       1          29     $55,500 - $125,000      14
    Normandy Farms                          1          1        1        1       1           5     $272,500 - $605,000     10
    Oakforge                                4          2        5        1       0          12     $79,500 - $135,900      12
    Phillips Carlon                         1          0        0        0       0           1          $60,000            1
    Pine Woods                              1          0        1        0       0           2     $134,900 - $185,000     6
    Quail Ridge                             1          2        2        5       0          10     $94,900 - $140,500      12
    Robertson Village                       9          11       8        2       3          33     $57,000 - $135,000      27
    Shadow Pointe                           1          0        1        1       2           5     $105,000 - $145,900     9
    Stratford Glen                          1          6        3        3       1          14     $91,500 - $138,700      16
    Sunset At Eagle Creek                   1          1        1        0       0           3     $79,000 - $112,000      4
    The Gardens At Eagle Creek              3          0        1        1       0           5     $77,218 - $116,900      4
    The Gardens North                       1          0        0        0       1           2     $74,400 - $113,500      6
    The Glen At Eagle Creek                 1          0        0        0       0           1     $110.500 - $133,500     4
    The Willows                             4          4        5        3       0          16     $70,101 - $112,000      15
    Thoroughbred Acres                      1          0        0        0       0           1     $340,000 - $398,000     5
    Walden Glen                             2          0        0        1       0           3     $175,100 - $220,000     2
    Walden Trace                            1          0        0        0       0           1     $157,520 - $187,189     7
    Wedgewood                               7          11       3        5       4          30     $33,000 - $102,000      11
    West Kessler Homes                      1          1        0        0       0           2     $65,500 - $118,000      3
    Westchester Estates              *      2          2        1        2       0           7     $108,000 - $155,500     9
    Wetherburn                              3          2        3        0       0           8      $86,500 - $112,00      5
    Whitehall Addition                      1          1        0        0       0           2     $90,000 - $117,000      3
    Wood Creek                              2          2        3        2       1          10     $105,331 - $131,000     6
    Woodland Place                          2          1        1        1       0           5     $95,000 - $114,900      5

    Totals                                2215      2191     2217     2109      2061        768                           2672

    * These communities are "Watch Communties". They either had jumps in 2007 or first half of 2008.
    The homes that were not in legal communities are not included in this chart.




Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com       www.LivingInPike.com
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Foreclosure Study For PIke Township 2007 by Tim Lord
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                                                                                                           Condos
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Foreclosure Study For Pike Township 2007 by Tim Lord
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                                                                                                                                                                    Houses - 2007 HUD's, Bank Owned, Pre-Foreclosure and VA's




                                                                                                                  Houses
                                                                                                                                                                                                                                Page 26
                                                                                                   Page 27

2008 First Half Preview




Condos
Bishops Pond                                6          Bridgefield Villas                      1
Westhaven Commons                           6          Georgetown Crossing                     1
6500 Georgetown                             5          Hidden Creek                            1
Lafayette Villas                            4          North Pointe Bay                        1
Hidden Bay                                  3          Parkside At Georgetown                  1
Arbor Village                               2          Villas Of Oakbrook                      1
Golden Woods                                2          Waterbury                               1
Guion Creek Woods                           2

                                                       Total                                  37
Houses
Liberty Creek                              10          Hawthornes                              2
Eagle Trace Village                         9          Lantern Park                            2
Gateway West                                9          Robertson Village                       2
Lakeside Manor                              8          The Preserve At Eagle Creek             2
Crooked Creek Villages                      7          The village At Eagles Landing           2
Westchester Estates                         7          Westover                                2
No Legal Community                          6          Wood Creek                              2
Brookfield Village                          5          Candlelite Village                      1
Crooked Creek Heights                       5          Cooper Pointe                           1
Bayswater At Eagle Creek                    4          Georgetown Crossing                     1
Branch Creek                                4          Gordon Acres                            1
Augusta Crossing                            3          Guion Pointe                            1
Chestnut Hills                              3          Legendary Hills                         1
Coventry Woods                              3          Lincolnwood                             1
Morningside                                 3          Moller Village                          1
Stratford Glen                              3          Oakforge                                1
Wedgewood                                   3          Quail Ridge                             1
Deer Creek                                  2          Saddlebrook                             1
Eagles Watch                                2          The Highlands At Eagle Creek            1
Falcons Nest                                2          Wilshire Glen                           1

                                                       Total                                 125



Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com      www.LivingInPike.com
                                                                           Page 28


Conclusion

I have a theory about foreclosures in the past 18 months. Because the housing
market started slowing down the last half of 2007 and is down about 30 percent
this year over last year in Pike Township, it has effected prices on foreclosed
homes that are back on the market. In the past I would see about a 10 to 15
percent discount on foreclosed homes on the market. Now I am seeing anywhere
from 10 to 50 percent discounts. The highest discounted homes don’t stay on the
market long.

The supply of foreclosed homes on the market has increased but the demand
has shrunk. Therefore if the foreclosed homes don’t sell quickly, there will be a
glut on them on the market. Bank owned and HUD homes have to be maintained
by their owners (the banks and HUD). This is very expensive. HUD homes have
inspections done when they are taken over. They are winterized (year around),
the water meters are taken out and sometimes the A/C condensers are put in the
garage for safety. Broken glass has to be fixed or boarded up. Front door locks
have to be changed and the house has to be secure. Maintenance companies
periodically check the house for damage and make sure the lawn is cut. Many
times I have seen the electricity shut off in a bank owned or HUD home that has
a basement. Without the electricity the sump pump does not work and during a
heavy rain the basement floods. I saw this recently in a brand new $900,000
bank owned home in Pike. The finished basement was ruined with the 4 foot high
water.

Add to the cost of HUD getting clear title, the paper work involved, attorney’s
fees, paying HMBIREO, the Chicago agent of HUD’s that deals with the online
bidding process and before you know it you have $1,000’s in costs before the
house is sold. After the sell, add closing costs and Realtor costs of selling the
house.

So…it becomes a business decision. Have a glut of homes on the market that
you can’t sell and will have to maintain at a high expense OR reduce pricing up
front and sell the houses faster. I am sure there is a balance to this equation that
is watched by banks and HUD very closely. I believe the balance has been
tipped and prices are being lowered.

Add in the fact that there are a high number of houses on the market and it is a
buyers market. Only half the homes listed today will be sold. If you are a seller in
this market and you want to sell your home, it must be in tip top condition and
priced competitively. To many times I have walked into a listing in Pike with
buyers and taken one look only to have the buyers say “NEXT!” In this market
buyers are also “low balling” price. Motivated sellers are taking lower offers.

All of the above lower market values for Pike Township.

I suspect we will see this for another year before it gets better.

Foreclosure Study for Pike Township 2007 by Tim Lord
 www.TimLordRealtor.com www.LivingInPike.com
                                                                              Page 29




Case Studies
The following are ALL sales that were listed on the BLC (Broker Listing
Cooperative) from 7 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 7 home/condo communities that currently have high foreclosure
rates. Most of communities were started between 1999 and 2002. 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 274 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 2007 by Tim Lord
www.TimLordRealtor.com www.LivingInPike.com
                                                                                                                               Page 30



Case Study # 1 - Eagle Trace Village (Page 1 of 3)
Type of                 Days     Original List    List Price At         Sale         Square       $ Per    Year     Close
Sale                     On         Price           Closing             Price        Footage   Square Foot Built    Date
                       Market
REG-ORIGINAL              5     $   119,900.00   $     124,900.00   $   124,385.00     1557       $79.89    2000 3/29/2001
REG-ORIGINAL             15     $   117,900.00   $     127,900.00   $   127,900.00     1557       $82.15    2001 4/25/2001
REG-ORIGINAL              5     $   106,900.00   $     110,900.00   $   109,975.00     1203       $91.42    2000 5/1/2001
REG-ORIGINAL             20     $   122,900.00   $     123,900.00   $   123,900.00     1688       $73.40    2001 5/11/2001
REG-ORIGINAL             13     $    98,900.00   $      98,900.00   $   113,190.00     1205       $93.93    2000 5/30/2001
REG-ORIGINAL             17     $   133,900.00   $     139,900.00   $   138,900.00     1968       $70.58    2001 7/12/2001
REG-ORIGINAL             30     $   139,900.00   $     139,900.00   $   138,500.00     1814       $76.35    2001 7/31/2001
REG-ORIGINAL             69     $   131,900.00   $     136,900.00   $   136,500.00     1814       $75.25    2001 9/21/2001
REG-ORIGINAL             11     $   124,900.00   $     134,900.00   $   134,900.00     1688       $79.92    2001 10/31/2001
REG-ORIGINAL              7     $   137,900.00   $     137,900.00   $   133,800.00     1968       $67.99    2001 11/9/2001
REG-ORIGINAL            147     $   117,900.00   $     130,900.00   $   130,700.00     1688       $77.43    2001 11/29/2001

Total - 2001                    $ 1,352,900.00   $ 1,406,900.00     $ 1,412,650.00    18150       $77.83

REG-ORIGINAL             173    $   129,900.00   $     131,900.00   $   130,900.00     1968       $66.51    2001 3/13/2002
REG-ORIGINAL              2     $   139,900.00   $     139,000.00   $   137,000.00     1814       $75.52    2001 3/29/2002
REG-ORIGINAL              12    $   138,900.00   $     138,900.00   $   138,900.00     2003       $69.35    2002 5/15/2002
REG-ORIGINAL              19    $   129,900.00   $     129,900.00   $   124,000.00     1689       $73.42    2002 5/23/2002
REG-ORIGINAL              81    $   136,900.00   $     137,900.00   $   137,000.00     2003       $68.40    2002 5/31/2002
REG-ORIGINAL              38    $   144,900.00   $     146,900.00   $   139,900.00     2003       $69.85    2002 6/14/2002
REG-ORIGINAL              4     $   120,900.00   $     127,900.00   $   127,650.00     2003       $63.73    2001 8/22/2002
REG-ORIGINAL             114    $   128,900.00   $     116,900.00   $   113,305.00     1385       $81.81    2002 8/28/2002
REG-ORIGINAL             265    $   109,900.00   $     114,900.00   $   112,850.00     1319       $85.56    2001 8/30/2002
REG-ORIGINAL              38    $   116,900.00   $     116,900.00   $   114,200.00     1319       $86.58    2002 8/30/2002
REG-ORIGINAL              14    $   116,900.00   $     116,900.00   $   115,400.00     1440       $80.14    2002 9/25/2002
REG-ORIGINAL              9     $   132,900.00   $     141,900.00   $   140,800.00     2003       $70.29    2002 9/26/2002
REG-ORIGINAL              11    $   114,900.00   $     122,500.00   $   121,000.00     1218       $99.34    2002 9/27/2002
REG-ORIGINAL              40    $   134,900.00   $     136,900.00   $   136,600.00     1968       $69.41    2002 10/24/2002
REG-ORIGINAL              23    $   124,900.00   $     132,900.00   $   132,500.00     1638       $80.89    2002 10/28/2002
REG-ORIGINAL              78    $   124,900.00   $     121,900.00   $   127,500.00     1440       $88.54    2002 11/26/2002
REG-ORIGINAL             120    $   115,900.00   $     118,900.00   $   118,347.00     1218       $97.17    2002 12/4/2002

Total - 2002                    $ 2,162,300.00   $ 2,193,000.00     $ 2,167,852.00    28431       $76.25

REG-ORIGINAL              66    $   117,900.00   $     114,900.00   $   110,000.00     1203       $91.44    2002 3/5/2003
REG-ORIGINAL              28    $   122,900.00   $     123,900.00   $   123,497.00     1670       $73.95    2002 3/25/2003
REG-ORIGINAL              22    $   119,900.00   $     127,900.00   $   127,000.00     1670       $76.05    2003 3/28/2003
REGULAR                  124    $   145,000.00   $     117,000.00   $   112,000.00     1968       $56.91    2001 4/11/2003
REG-ORIGINAL             140    $   107,900.00   $     111,900.00   $   111,500.00     1203       $92.69    2003 6/25/2003
HUD                       46    $   102,000.00   $     102,000.00   $    87,000.00     1334       $65.22    2000 6/27/2003
SHORT SALE               308    $   143,500.00   $     113,900.00   $   108,000.00     1824       $59.21    2000 7/15/2003
HUD                       11    $   106,000.00   $     106,000.00   $    98,966.00     1824       $54.26    2001 8/27/2003
HUD                       15    $   104,000.00   $      84,240.00   $    99,443.00     1209       $82.25    2001 11/18/2003
REG-ORIGINAL              77    $   139,900.00   $     128,900.00   $   124,533.00     1968       $63.28    2003 11/26/2003

Total - 2003                    $ 1,209,000.00   $ 1,130,640.00     $ 1,101,939.00    15873       $69.42

HUD                      105    $   107,000.00   $     107,000.00   $    99,443.00     2010       $49.47    2001   1/1/2004
HUD                       12    $   107,000.00   $     107,000.00   $    99,501.00     1824       $54.55    2000   1/15/2004
HUD                      112    $   108,000.00   $      86,400.00   $    77,800.00     1440       $54.03    2000   1/19/2004
CORP                     205    $   114,900.00   $      89,900.00   $    88,000.00     1209       $72.79    2001   2/16/2004
HUD                      105    $   105,000.00   $      84,000.00   $    78,501.00     1319       $59.52    2000   2/25/2004
REGULAR                  126    $   134,900.00   $     134,900.00   $   125,000.00     1968       $63.52    2001   2/26/2004
HUD                       11    $   118,000.00   $     100,000.00   $    94,111.00     1824       $51.60    2000   3/1/2004
AGENT OWNED               12    $    94,900.00   $      94,900.00   $    97,000.00     1319       $73.54    2000   3/26/2004
HUD                       40    $   100,000.00   $      90,000.00   $    87,000.00     1209       $71.96    2001   4/27/2004
PRE-FORECLOSURE          179    $    99,000.00   $      89,900.00   $    85,000.00     1440       $59.03    2001   5/10/2004
HUD                       32    $    99,500.00   $      99,500.00   $    85,611.00     1319       $64.91    2000   5/12/2004
HUD                       40    $    98,500.00   $      88,650.00   $    76,511.00     1209       $63.29    2000   6/4/2004
HUD                       41    $    85,000.00   $      85,000.00   $    82,100.00     1440       $57.01    2001   7/9/2004
HUD                       5     $    80,000.00   $      80,000.00   $    80,101.00     1334       $60.05    2000   7/19/2004




Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com       www.LivingInPike.com
                                                                                                                                Page 31



Case Study # 1 - Eagle Trace Village (Page 2 of 3)
Type of                 Days    Original List    List Price At      Sale             Square       $ Per    Year      Close
Sale                     On     Price            Closing            Price            Footage   Square Foot Built     Date
                       Market
BANK                     15     $    84,900.00   $      89,900.00   $    85,000.00     1249       $68.05    2001 7/19/2004
HUD                      68     $    95,000.00   $      95,000.00   $    99,005.00     1704       $58.10    2001 7/20/2004
REGULAR                 171     $   129,900.00   $     119,900.00   $   118,500.00     1824       $64.97    2000 8/13/2004
HUD                      19     $    93,000.00   $      93,000.00   $    93,000.00     1824       $50.99    2000 8/23/2004
PRE-FORECLOSURE         107     $   107,900.00   $      93,000.00   $    93,108.00     1668       $55.82    2000 9/16/2004
HUD                      21     $    85,000.00   $      85,000.00   $    80,800.00     1440       $56.11    2001 9/23/2004
HUD                      53     $    93,000.00   $      83,700.00   $    69,100.00     1184       $58.36    2001 9/26/2004
REGULAR                  51     $    95,900.00   $      94,900.00   $   101,900.00     1209       $84.28    2001 10/5/2004
HUD                       5     $   101,000.00   $     101,000.00   $   101,000.00     1990       $50.75    2001 10/25/2004
HUD                      12     $    81,000.00   $      81,000.00   $    75,811.00     1240       $61.14    2001 11/1/2004
HUD                      75     $    83,000.00   $      83,000.00   $    78,303.00     1606       $48.76    2000 11/16/2004
HUD                      65     $    96,000.00   $      86,400.00   $    86,400.00     1984       $43.55    2000 11/21/2004

Total - 2004                    $ 2,597,300.00   $ 2,442,950.00     $ 2,337,606.00    39786       $58.75

HUD                       61    $    84,000.00   $      75,600.00   $    79,111.00     1240       $63.80    2001    1/10/2005
HUD                       67    $    97,000.00   $      97,000.00   $    89,500.00     1980       $45.20    2001    1/28/2005
AGENT OWNED               94    $   118,900.00   $     116,300.00   $   102,000.00     1440       $70.83    2001    1/28/2005
PRE-FORECLOSURE           37    $    89,900.00   $      89,900.00   $    87,000.00     1668       $52.16    2001    2/25/2005
HUD                       10    $    80,000.00   $      80,000.00   $    75,000.00     1319       $56.86    2001    4/21/2005
HUD                       10    $    80,000.00   $      80,000.00   $    82,000.00     1240       $66.13    2001    4/29/2005
REGULAR                  273    $   105,000.00   $     101,000.00   $   101,000.00     1440       $70.14    2001    5/5/2005
SHORT SALE                47    $   122,900.00   $     101,000.00   $   101,000.00     2010       $50.25    2002    6/9/2005
PRE-FORECLOSURE           16    $    98,000.00   $      98,000.00   $    86,500.00     926        $93.41    2002    6/24/2005
REGULAR                  101    $   117,500.00   $     114,900.00   $   113,000.00     1440       $78.47    2000    6/24/2005
BANK                      16    $    89,900.00   $      89,900.00   $    89,000.00     1824       $48.79    2001    6/27/2005
BANK                      52    $    89,500.00   $      87,000.00   $    90,000.00     1440       $62.50    2000    7/19/2005
HUD                       11    $    80,000.00   $      80,000.00   $    80,000.00     1704       $46.95    2001    8/4/2005
REGULAR                  134    $   139,600.00   $     124,900.00   $   122,750.00     1980       $62.00    2001    8/12/2005
HUD                       10    $    87,000.00   $      87,000.00   $    90,111.00     1670       $53.96    2003    10/5/2005
HUD                       11    $    95,000.00   $      95,000.00   $    89,111.00     1872       $47.60    2001   10/11/2005
REGULAR                  168    $   139,900.00   $     109,900.00   $   103,000.00     1814       $56.78    2002   10/28/2005
HUD                       10    $    90,000.00   $      90,000.00   $    95,000.00     1776       $53.49    2000   10/31/2005
HUD                       10    $    89,000.00   $      89,000.00   $    93,000.00     2010       $46.27    2001   11/10/2005
HUD                       11    $    95,000.00   $      95,000.00   $    89,011.00     2050       $43.42    2002   11/18/2005
HUD                       10    $    81,000.00   $      81,000.00   $    81,000.00     1968       $41.16    2001   11/25/2005
HUD                       10    $    72,000.00   $      72,000.00   $    80,000.00     1440       $55.56    2000   11/29/2005
HUD                       10    $    86,000.00   $      86,000.00   $    90,100.00     2010       $44.83    2001   12/14/2005
HUD                      116    $    81,000.00   $      81,000.00   $    78,000.00     1440       $54.17    2001   12/15/2005
HUD                       14    $    80,000.00   $      80,000.00   $    75,000.00     1320       $56.82    2001   12/19/2005
HUD                       11    $    77,000.00   $      77,000.00   $    79,509.00     1440       $55.22    2001   12/20/2005
HUD                       10    $    81,000.00   $      81,000.00   $    82,000.00     1872       $43.80    2001   12/27/2005

Total - 2005                    $ 2,546,100.00   $ 2,459,400.00     $ 2,422,703.00    44333       $54.65

HUD                      164    $    80,000.00   $      80,000.00   $    81,750.00     1209       $67.62    2001   1/23/2006
HUD                       87    $   100,000.00   $     100,000.00   $   100,000.00     2010       $49.75    2001   1/23/2006
HUD                       10    $    89,000.00   $      89,000.00   $    92,000.00     1824       $50.44    2001   2/8/2006
HUD                       31    $    85,000.00   $      85,000.00   $    75,100.00     1440       $52.15    2001   2/9/2006
HUD                       76    $    84,000.00   $      84,000.00   $    75,600.00     1872       $40.39    2001   2/15/2006
HUD                       10    $    85,000.00   $      85,000.00   $    92,000.00     1824       $50.44    2001   2/17/2006
HUD                       11    $    94,000.00   $      94,000.00   $   103,000.00     2010       $51.24    2002   3/3/2006
HUD                       11    $    89,000.00   $      89,000.00   $    91,000.00     2010       $45.27    2002   3/13/2006
BANK                      31    $    89,900.00   $      89,900.00   $    91,000.00     1259       $72.28    2001   4/3/2006
AGENT OWNED               7     $   109,900.00   $     109,900.00   $   110,900.00     1872       $59.24    2001   4/19/2006
HUD                       10    $    75,000.00   $      75,000.00   $    81,000.00     1500       $54.00    2003   4/26/2006
HUD                       10    $    90,000.00   $      90,000.00   $    90,000.00     1872       $48.08    2001   5/1/2006
REGULAR                   55    $    89,000.00   $      89,000.00   $    89,000.00     1500       $59.33    2002   5/4/2006
HUD                       10    $    90,000.00   $      90,000.00   $    90,000.00     1980       $45.46    2000   5/4/2006
HUD                       10    $    85,000.00   $      85,000.00   $    85,000.00     2010       $42.29    2001   8/1/2006
HUD                       10    $    90,000.00   $      90,000.00   $   105,000.00     2010       $52.24    2001   8/2/2006




Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com       www.LivingInPike.com
                                                                                                                                Page 32



Case Study # 1 - Eagle Trace Village (Page 3 of 3)
Type of                  Days    Original List    List Price At     Sale             Square       $ Per    Year      Close
Sale                      On     Price            Closing           Price            Footage   Square Foot Built     Date
                        Market
HUD                       38     $    88,000.00   $     88,000.00   $    92,300.00     2002       $46.10    2001    8/11/2006
PRE-FORECLOSURE           72     $   100,000.00   $    100,000.00   $   100,000.00     2010       $49.75    2001    9/18/2006
HUD                       21     $    77,000.00   $     77,000.00   $    91,750.00     1704       $53.84    2001    9/20/2006
HUD                       13     $    83,000.00   $     83,000.00   $    82,000.00     1457       $56.28    2001    9/20/2006
PRE-FORECLOSURE          103     $   104,900.00   $    104,900.00   $    95,000.00     2010       $47.26    2001    9/21/2006
HUD                       10     $    77,000.00   $     77,000.00   $    82,000.00     1605       $51.09    2000    9/28/2006
HUD                       10     $    80,000.00   $     80,000.00   $    83,499.00     1778       $46.96    2001    10/4/2006
HUD                       11     $    86,000.00   $     86,000.00   $    91,000.00     1900       $47.90    2000   11/16/2006
HUD                       11     $    94,000.00   $     94,000.00   $    88,428.00     2001       $44.19    2002   11/16/2006
HUD                      367     $    77,000.00   $     77,000.00   $    89,999.00     1799       $50.03    2001   11/29/2006
PRE-FORECLOSURE           88     $    81,000.00   $     81,000.00   $    84,000.00     1740       $48.28    2003   12/18/2006
HUD                      119     $    96,000.00   $     96,000.00   $    87,600.00     1980       $44.24    2001   12/29/2006

Total - 2006                     $ 2,468,700.00   $ 2,468,700.00    $ 2,519,926.00    50188       $50.21

HUD                       10     $    80,000.00   $     80,000.00   $    82,000.00     1646       $49.82    2001 1/23/2007
HUD                       32     $    83,000.00   $     83,000.00   $    83,000.00     1766       $47.00    2001 1/30/2007
HUD                       48     $    74,000.00   $     74,000.00   $    65,000.00     1244       $52.25    2000 2/15/2007
HUD                       11     $    86,000.00   $     86,000.00   $    86,000.00     1614       $53.28    2001 2/15/2007
HUD                      143     $    80,000.00   $     80,000.00   $    75,000.00     1328       $56.48    2001 2/16/2007
HUD                       10     $    81,000.00   $     81,000.00   $    85,000.00     1440       $59.03    2001 3/1/2007
HUD                       38     $    78,000.00   $     78,000.00   $    78,000.00     1198       $65.11    2001 3/16/2007
HUD                      150     $    90,000.00   $     90,000.00   $    84,250.00     1986       $42.42    2001 4/10/2007
HUD                       11     $    85,000.00   $     85,000.00   $    95,000.00     1700       $55.88    2000 4/27/2007
HUD                      226     $    89,900.00   $     89,900.00   $    87,000.00     1240       $70.16    2001 4/27/2007
PRE-FORECLOSURE           18     $    85,000.00   $     85,000.00   $    85,000.00     1980       $42.93    2001 6/29/2007
SHORT SALE               240     $   145,000.00   $     99,500.00   $    95,000.00     1946       $48.82    2004 8/3/2007
HUD                       19     $    84,000.00   $     84,000.00   $    80,200.00     1573       $50.99    2002 8/17/2007
HUD                       10     $    83,000.00   $     83,000.00   $    88,000.00     1722       $51.10    2001 9/13/2007
HUD                       18     $    85,000.00   $     85,000.00   $    83,000.00     1997       $41.56    2001 9/20/2007
HUD                       10     $    85,000.00   $     85,000.00   $    91,526.00     1688       $54.22    2000 9/28/2007
HUD                      340     $    83,000.00   $     83,000.00   $    89,000.00     1799       $49.47    2002 10/29/2007
SHORT SALE               325     $    83,000.00   $     83,000.00   $    80,000.00     1668       $47.96    2001 10/30/2007
SHORT SALE                89     $    84,900.00   $     84,900.00   $    76,000.00     1244       $61.09    2000 11/21/2007

Total - 2007                     $ 1,644,800.00   $ 1,599,300.00    $ 1,587,976.00    30779       $51.59

HUD                       89     $    80,000.00   $     80,000.00   $    75,000.00     1319       $56.86    2000   1/2/2008
REGULAR                   5      $    99,900.00   $     99,900.00   $   102,750.00     1984       $51.79    2002   2/21/2008
PRE-FORECLOSURE          148     $    75,000.00   $     68,900.00   $    68,900.00     1209       $56.99    2001   2/22/2008
BANK                     159     $    75,000.00   $     67,500.00   $    67,000.00     1240       $54.03    2002   2/25/2008
HUD                       12     $    84,000.00   $     84,000.00   $    80,100.00     1912       $41.89    2001   3/13/2008
HUD                      305     $    78,000.00   $     70,000.00   $    50,250.00     1433       $35.07    2001   3/14/2008
BANK                      8      $    98,000.00   $     98,000.00   $    90,000.00     2010       $44.78    2002   3/28/2008
REGULAR                  662     $   119,000.00   $    115,900.00   $   114,000.00     1704       $66.90    2001   4/11/2008
HUD                       14     $    89,000.00   $     89,000.00   $    85,050.00     1754       $48.49    2000   4/15/2008
BANK                      13     $    73,900.00   $     73,900.00   $    71,750.00     1440       $49.83    2001   4/30/2008
HUD                       35     $    88,000.00   $     88,000.00   $    85,000.00     2010       $42.29    2001   5/16/2008
REGULAR                   16     $   117,000.00   $    117,000.00   $   118,000.00     1824       $64.69    2000   5/19/2008
REGULAR                   31     $   114,000.00   $    114,000.00   $   105,000.00     1668       $62.95    2001   5/23/2008
BANK                      69     $    99,900.00   $     84,900.00   $    85,000.00     1980       $42.93    2000   6/11/2008
HUD                       27     $    85,000.00   $     85,000.00   $    79,550.00     1980       $40.18    2001   6/13/2008
REGULAR                   16     $    89,900.00   $     89,900.00   $    89,900.00     1433       $62.74    2001   6/20/2008
HUD                       82     $    85,000.00   $     77,000.00   $    58,608.00     1680       $34.89    2000   7/2/2008

Total as of 7/16/2008            $ 1,550,600.00   $ 1,502,900.00    $ 1,425,858.00    28580       $49.89




Foreclosure Study For Pike Township 2007 by Tim Lord    www.TimLordRealtor.com       www.LivingInPike.com
                                                                                                                                Page 33

Case Study #2 - Brookfield Village (Page 1 of 1)
Type of                  Days Original List     List Price At    Sale            Square     $ Per          Year      Close
Sale                      On   Price            Closing          Price           Footage Square Foot       Built     Date
                        Market

REGULAR                   28    $ 114,900.00    $   116,900.00   $ 116,000.00     1358      $85.42         1999     4/28/2000
REGULAR                   5     $ 116,900.00    $   116,900.00   $ 116,800.00     1440      $81.11         2000     6/26/2000
REGULAR                   5     $ 119,900.00    $   131,900.00   $ 131,000.00     1814      $72.22         2000     8/17/2000
REGULAR                   26    $ 95,900.00     $   101,900.00   $ 101,050.00     1021      $98.97         2000    10/16/2000

Total 2000                      $ 447,600.00    $ 467,600.00     $ 464,850.00     5633      $82.52

REGULAR                  196    $ 121,900.00    $ 121,900.00     $ 123,000.00     1754      $70.13         2000    8/14/2001

Total 2001                      $ 121,900.00    $ 121,900.00     $ 123,000.00     1754      $70.13

REGULAR                   45    $ 105,000.00    $ 99,900.00      $   97,000.00    1440      $67.36         1999     2/5/2003
HUD                       21    $ 96,000.00     $ 96,000.00      $   89,500.00    1658      $53.98         1999     4/29/2003
HUD                      160    $ 118,000.00    $ 106,200.00     $   90,000.00    1776      $50.68         1999     8/1/2003
HUD                      151    $ 92,000.00     $ 82,800.00      $   78,300.00    1334      $58.70         1999     9/2/2003
HUD                       5     $ 90,000.00     $ 90,000.00      $   90,000.00    1878      $47.92         2000     9/23/2003
HUD                       31    $ 85,000.00     $ 85,000.00      $   78,500.00    1334      $58.85         1999    10/28/2003
HUD                       6     $ 92,000.00     $ 92,000.00      $   88,500.00    1658      $53.38         2000    11/19/2003
HUD                       5     $ 85,000.00     $ 85,000.00      $   85,000.00    1440      $59.03         1999    12/30/2003

Total 2003                      $ 763,000.00    $ 736,900.00     $ 696,800.00    12518      $55.66

HUD                       33    $   94,000.00   $    94,000.00   $   94,000.00    1658      $56.70         1999     1/26/2004
HUD                       5     $   89,500.00   $    89,500.00   $   89,000.00    1440      $61.81         2000     2/5/2004
HUD                       5     $   80,000.00   $    80,000.00   $   79,000.00    1319      $59.89         1999     2/13/2004
HUD                       37    $   97,000.00   $    97,000.00   $   97,500.00    1980      $49.24         1999    12/15/2004

Total 2004                      $ 360,500.00    $ 360,500.00     $ 359,500.00     6397      $56.20

HUD                       46    $ 80,000.00     $ 80,000.00      $ 78,500.00      1334      $58.85         1999     1/5/2005
PRE-FORECLOSURE           40    $ 82,600.00     $ 82,600.00      $ 82,600.00      1334      $61.92         1999     1/27/2005
HUD                       10    $ 90,000.00     $ 90,000.00      $ 105,100.00     1658      $63.39         1999     4/20/2005
REGULAR                   64    $ 109,900.00    $ 104,900.00     $ 101,000.00     1334      $75.71         1999     6/7/2005
HUD                       10    $ 95,000.00     $ 95,000.00      $ 108,000.00     1872      $57.69         1999     8/3/2005
BANK                      37    $ 93,000.00     $ 87,900.00      $ 87,900.00      1334      $65.89         1999     10/7/2005
HUD                       10    $ 95,000.00     $ 95,000.00      $ 95,000.00      1878      $50.59         1999    10/25/2005

Total 2005                      $ 645,500.00    $ 635,400.00     $ 658,100.00    10744      $61.25

HUD                       10    $ 85,000.00     $ 85,000.00      $ 90,000.00      1334      $67.47         1999     5/26/2006
HUD                       10    $ 96,000.00     $ 96,000.00      $ 86,000.00      1560      $55.13         1999     9/20/2006
BANK                     115    $ 114,900.00    $ 114,900.00     $ 114,900.00     1848      $62.18         1999     9/22/2006
HUD                       10    $ 92,000.00     $ 92,000.00      $ 93,500.00      1336      $69.99         2000    10/31/2006
PRE-FORECLOSURE          116    $ 114,900.00    $ 119,700.00     $ 119,900.00     1878      $63.84         2000     11/7/2006

Total 2006                      $ 502,800.00    $ 507,600.00     $ 504,300.00     7956      $63.39

HUD                       11    $ 83,000.00     $ 83,000.00      $ 72,316.00      1440      $50.22         1999     4/11/2007
REGULAR                   45    $ 110,900.00    $ 110,900.00     $ 110,300.00     1440      $76.60         1999     9/26/2007
BANK                      75    $ 96,000.00     $ 96,000.00      $ 96,000.00      1872      $51.28         1999    10/31/2007

Total 2007                      $ 289,900.00    $ 289,900.00     $ 278,616.00     4752      $58.63

HUD                       61    $ 95,000.00     $ 86,000.00      $   79,000.00    1440      $54.86         1999    1/31/2008
AGENT OWNED               85    $ 105,000.00    $ 101,500.00     $   99,500.00    1754      $56.73         1999    2/22/2008
HUD                       32    $ 75,000.00     $ 75,000.00      $   62,512.00    1284      $48.69         1999    4/7/2008
HUD                       59    $ 87,000.00     $ 87,000.00      $   85,000.00    1980      $42.93         1999    4/29/2008
HUD                      216    $ 107,000.00    $ 97,000.00      $   66,000.00    1571      $42.01         1999    5/2/2008
HUD                       46    $ 95,000.00     $ 86,000.00      $   68,800.00    1620      $42.47         1999    5/6/2008
REGULAR                   77    $ 84,900.00     $ 89,900.00      $   87,500.00    1334      $65.59         1999    6/5/2008

Total as of 7/19/2008           $ 648,900.00    $ 622,400.00     $ 548,312.00    10983      $49.92

NOTE: 29 homes have gone through Foreclosure, Short Sale or Pre-Foreclosure out of the 63 in the community (46%)



Foreclosure Study For Pike Township 2007 by Tim Lord   wwwlTimLordRealtor.com       www.LivingInPike.com
                                                                                                                        Page 34




Case Study #3 - Cooper Pointe (Page 1 of 5)
Type of                  Days     Original List    List Price At    Sale             Square     $ Per      Year      Close
Sale                      On      Price            Closing          Price            Footage Square Foot   Built     Date
                        Market

REGULAR-ORIGINAL           4      $   116,000.00   $   117,000.00   $   117,000.00    1756     $66.63      1999    10/29/1999
CORPORATE                 315     $    92,900.00   $    89,900.00   $    85,000.00    1136     $74.82      1994    11/10/1999
REGULAR-ORIGINAL           13     $   117,900.00   $   117,900.00   $   112,900.00    1756     $64.29      1999    11/29/1999
REGULAR-ORIGINAL           32     $   109,900.00   $   109,900.00   $   104,000.00    1201     $86.59      1999    12/30/1999

Total 1999                        $   436,700.00   $   434,700.00   $   418,900.00    5849     $71.61

REGULAR                   169     $   104,900.00   $    97,900.00   $    92,500.00    1264      $73.18     1995    2/29/2000
HUD                        18     $    88,000.00   $    88,000.00   $    88,000.00    1264      $69.62     1995    3/14/2000
REGULAR                   189     $   109,900.00   $   104,500.00   $   104,500.00    1504      $69.48     1995    3/31/2000
REGULAR-ORIGINAL          264     $   102,450.00   $   107,000.00   $   107,000.00    1212      $88.28     1998    3/31/2000
REGULAR-ORIGINAL           6      $   114,900.00   $   114,000.00   $   114,000.00    1557      $73.22     1999     4/5/2000
REGULAR                    49     $    94,900.00   $    94,900.00   $    94,900.00    1136      $83.54     1995    4/10/2000
REGULAR-ORIGINAL          127     $   105,900.00   $   105,900.00   $    99,900.00    1201      $83.18     1999    4/14/2000
REGULAR-ORIGINAL           9      $   115,000.00   $   115,000.00   $   113,325.00    1658      $68.35     1999    4/20/2000
REGULAR-ORIGINAL           14     $   120,000.00   $   120,000.00   $   120,000.00    1658      $72.38     1999    4/21/2000
HUD                        17     $    88,000.00   $    88,000.00   $    82,000.00    1200      $68.33     1996    4/25/2000
REGULAR-ORIGINAL          171     $   118,900.00   $   118,900.00   $   118,200.00    1525      $77.51     1999    4/27/2000
HUD                       101     $    91,000.00   $    72,800.00   $    80,000.00    1400      $57.14     1995    4/28/2000
HUD                        96     $    90,000.00   $    90,000.00   $    80,000.00    1568      $51.02     1995    4/28/2000
BANK                       21     $    89,900.00   $    89,900.00   $    89,900.00    1084      $82.93     1994    5/26/2000
HUD                       105     $    86,000.00   $    68,800.00   $    68,800.00    948       $72.57     1996    5/30/2000
REGULAR                    30     $    92,900.00   $    92,900.00   $    90,000.00    1052      $85.55     1994    7/20/2000
REGULAR                   110     $   125,900.00   $   125,900.00   $   119,000.00    1899      $62.66     1996    7/21/2000
REGULAR                    97     $   110,000.00   $   102,500.00   $    99,500.00    1435      $69.34     1995    7/31/2000
HUD                       129     $   110,000.00   $    77,000.00   $    80,000.00    1540      $51.95     1997     8/7/2000
HUD                        52     $   103,000.00   $   103,000.00   $    85,000.00    1580      $53.80     1995    8/25/2000
REGULAR-ORIGINAL          241     $   101,500.00   $    91,900.00   $    91,500.00    1052      $86.98     1997    8/31/2000
REGULAR                   145     $   116,000.00   $   101,000.00   $    97,000.00    1540      $62.99     1997    8/31/2000
REGULAR-ORIGINAL           18     $    99,900.00   $   108,900.00   $   106,400.00    1212      $87.79     2000    9/29/2000
HUD                       101     $   112,000.00   $   112,000.00   $    87,000.00    1638      $53.11     1994    9/29/2000
REGULAR-ORIGINAL           32     $   112,900.00   $   117,900.00   $   117,000.00    1338      $87.44     2000    10/13/2000
REGULAR                    94     $   116,900.00   $   112,900.00   $   107,000.00    1538      $69.57     1995    10/16/2000
REGULAR                    64     $   103,900.00   $    99,900.00   $    96,000.00    1264      $75.95     1996    10/31/2000
REGULAR                    66     $   105,000.00   $   102,000.00   $    94,000.00    1080      $87.04     1997    11/30/2000
REGULAR                    70     $   115,000.00   $   104,500.00   $    97,900.00    1880      $52.07     1998    12/4/2000
HUD                        91     $   115,000.00   $   115,000.00   $    83,480.00    1540      $54.21     1997    12/11/2000
HUD                        66     $    89,000.00   $    89,000.00   $    73,300.00    1200      $61.08     1996    12/21/2000
REGULAR                    92     $   110,000.00   $   110,000.00   $   125,000.00    1200     $104.17     1997    12/22/2000

Total 2000                        $ 3,358,650.00   $ 3,241,900.00   $ 3,102,105.00   44167     $70.24

HUD                        11     $    85,000.00   $    85,000.00   $    77,985.00    1540     $50.64      1997    1/19/2001
HUD                        24     $    88,000.00   $    88,000.00   $    80,735.00    1776     $45.46      1998     3/6/2001
REGULAR                    10     $    95,000.00   $    96,000.00   $    95,500.00    1052     $90.78      1994    4/26/2001
REGULAR                    85     $   116,900.00   $   114,900.00   $   111,000.00    1538     $72.17      1998    4/30/2001
REGULAR                    94     $   121,500.00   $   119,900.00   $   117,900.00    1899     $62.09      1996    5/18/2001
REGULAR                    15     $   112,900.00   $   112,900.00   $   108,000.00    1648     $65.53      1994    5/25/2001
REGULAR                    54     $   104,900.00   $   104,900.00   $   100,500.00    1421     $70.73      1995     6/7/2001
HUD                        66     $    85,000.00   $    85,000.00   $    85,000.00    1538     $55.27      1998    6/12/2001
HUD                        5      $    85,000.00   $    85,000.00   $    88,350.00    1678     $52.65      1995    6/14/2001
REGULAR                    61     $   112,500.00   $   113,900.00   $   113,900.00    1438     $79.21      1995    6/18/2001
REGULAR                    61     $   112,900.00   $   109,900.00   $   106,000.00    1418     $74.75      1994    6/27/2001
HUD                        33     $    85,000.00   $    85,000.00   $    75,820.00    1540     $49.23      1997    7/20/2001
REGULAR                   140     $   110,000.00   $   119,995.00   $   114,995.00    1646     $69.86      1995    7/30/2001
HUD                        5      $    80,000.00   $    80,000.00   $    85,000.00    1538     $55.27      1998    9/17/2001
HUD                        33     $    81,000.00   $    81,000.00   $    92,501.00    1880     $49.20      1998    9/25/2001
REGULAR                   154     $   108,000.00   $   103,890.00   $   103,000.00    1540     $66.88      1996    11/15/2001




Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com    wwwlLIvingInPike.com
                                                                                                                        Page 35




Case Study #3 - Cooper Pointe (Page 2 of 5)
Type of                  Days     Original List    List Price At    Sale             Square     $ Per      Year      Close
Sale                      On      Price            Closing          Price            Footage Square Foot   Built     Date
                        Market

HUD                        95     $    84,000.00   $    84,000.00   $    75,900.00    1236     $61.41      1998    11/16/2001
HUD                       138     $    95,000.00   $    95,000.00   $    85,500.00    1776     $48.14      1998    11/21/2001
HUD                       201     $    97,000.00   $    87,300.00   $    87,300.00    1776     $49.16      1999    12/5/2001
HUD                        19     $    86,000.00   $    86,000.00   $    83,000.00    1560     $53.21      1998    12/11/2001
HUD                        83     $    90,000.00   $    90,000.00   $    90,000.00    1568     $57.40      1995    12/12/2001
REGULAR                   167     $   109,900.00   $   105,000.00   $    96,500.00    1264     $76.35      1995    12/31/2001

Total 2001                        $ 2,145,500.00   $ 2,132,585.00   $ 2,074,386.00   34270     $60.53

HUD                        54     $    87,000.00   $    78,300.00   $    71,950.00    1038     $69.32      1998    1/17/2002
HUD                        47     $    89,000.00   $    89,000.00   $    90,000.00    1704     $52.82      1999     2/1/2002
REGULAR                    35     $    93,900.00   $    93,900.00   $    95,900.00    1052     $91.16      1994     2/8/2002
HUD                        12     $    85,000.00   $    85,000.00   $    76,250.00    1418     $53.77      1996    2/11/2002
REGULAR                    9      $    99,900.00   $    99,900.00   $    99,000.00    1264     $78.32      1995    2/14/2002
REGULAR                    40     $    99,850.00   $    99,850.00   $    97,500.00    1400     $69.64      1994    2/19/2002
REGULAR                   279     $    99,900.00   $    85,900.00   $    88,900.00    1080     $82.32      1997    2/28/2002
HUD                        40     $    80,000.00   $    80,000.00   $    72,150.00    1410     $51.17      1997     3/2/2002
HUD                        5      $    80,000.00   $    80,000.00   $    80,000.00    1540     $51.95      1997    3/15/2002
REGULAR                    89     $   123,500.00   $   122,000.00   $   117,000.00    1518     $77.08      1994    3/29/2002
REGULAR                   174     $   129,900.00   $   127,900.00   $   124,000.00    1328     $93.37      1995    3/29/2002
AGENT OWNED                96     $   114,900.00   $   109,900.00   $   111,900.00    1560     $71.73      1998    4/18/2002
BANK                       16     $    95,900.00   $    95,900.00   $    99,000.00    1538     $64.37      1998    4/26/2002
REGULAR                   123     $   123,000.00   $   123,000.00   $   118,500.00    1816     $65.25      1994     5/6/2002
HUD                        47     $    90,000.00   $    90,000.00   $    90,100.00    1832     $49.18      1998    5/31/2002
REGULAR                    51     $   110,900.00   $   110,900.00   $   105,000.00    1411     $74.42      1995    6/25/2002
REGULAR                   332     $   114,900.00   $   109,900.00   $   109,900.00    1742     $63.09      1994    6/28/2002
REGULAR                   202     $   128,500.00   $   119,900.00   $   121,400.00    2016     $60.22      1995     7/5/2002
HUD                        26     $    55,000.00   $    92,000.00   $    92,000.00    1880     $48.94      1998    8/30/2002
CORPORATE                 252     $   108,000.00   $    91,900.00   $    88,000.00    1236     $71.20      1998    9/23/2002
REGULAR                   130     $   115,900.00   $   115,900.00   $   119,500.00    1644     $72.69      1996    9/25/2002
HUD                        26     $    92,000.00   $    92,000.00   $    89,153.00    1540     $57.89      1997    10/4/2002
HUD                        61     $    72,000.00   $    72,000.00   $    68,751.00    1038     $66.23      1998    10/8/2002
REGULAR                   122     $    95,900.00   $    95,000.00   $    94,500.00    1200     $78.75      1997    10/8/2002
REGULAR                    47     $    99,900.00   $    99,900.00   $    97,500.00    1125     $86.67      1999    10/30/2002
HUD                        5      $    91,000.00   $    91,000.00   $    91,000.00    1540     $59.09      1997    12/12/2002
HUD                        10     $    95,000.00   $    95,000.00   $    95,000.00    1776     $43.49      1998    12/12/2002
HUD                        19     $    80,000.00   $    80,000.00   $    85,000.00    1540     $55.20      1996    12/19/2002
HUD                        45     $    91,000.00   $    91,000.00   $    80,000.00    1248     $64.10      1995    12/31/2002

Total 2002                        $ 2,841,750.00   $ 2,816,950.00   $ 2,768,854.00   42434     $65.25

HUD                        19     $    71,000.00   $    71,000.00   $    73,500.00    1172     $62.71      1995    3/14/2003
REGULAR                    32     $    99,900.00   $   103,900.00   $   103,900.00    1052     $98.76      1994    3/20/2003
REGULAR                   144     $   113,900.00   $   109,900.00   $   107,000.00    1400     $76.43      1995    3/24/2003
HUD                        10     $    92,000.00   $    92,000.00   $    93,250.00    1760     $52.98      1994     4/2/2003
HUD                        5      $    83,000.00   $    83,000.00   $    83,000.00    1088     $76.29      1998    4/18/2003
BANK                      115     $   106,900.00   $   103,900.00   $   103,800.00    1424     $72.89      1996    4/18/2003
HUD                        33     $    80,000.00   $    80,000.00   $    77,500.00    960      $80.73      1995    5/20/2003
BANK                       18     $    92,900.00   $    92,900.00   $    86,600.00    1248     $69.39      1996    5/21/2003
REGULAR                    14     $   139,901.00   $   129,900.00   $   126,500.00    2056     $61.53      1995    5/27/2003
HUD                        10     $    75,000.00   $    75,000.00   $    75,000.00    1136     $66.02      1995    6/26/2003
HUD                        10     $    92,000.00   $    92,000.00   $    90,000.00    1644     $54.75      1998    6/27/2003
REGULAR                   141     $   112,000.00   $   106,000.00   $   104,500.00    1410     $74.11      1998    6/27/2003
REGULAR                   276     $   109,000.00   $   107,000.00   $   107,500.00    1215     $88.48      1996    6/30/2003
REGULAR                    96     $    94,900.00   $    94,900.00   $    92,000.00    948      $97.05      1996     7/2/2003
HUD                        10     $    73,000.00   $    73,000.00   $    75,000.00    1118     $67.08      1998     8/5/2003
REGULAR                   164     $   131,950.00   $   124,900.00   $   124,000.00    1899     $65.30      1996     8/8/2003




Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com    wwwlLIvingInPike.com
                                                                                                                        Page 36




Case Study #3 - Cooper Pointe (Page 3 of 5)
Type of                  Days     Original List    List Price At    Sale             Square     $ Per      Year      Close
Sale                      On      Price            Closing          Price            Footage Square Foot   Built     Date
                        Market

REGULAR                   135     $   124,900.00   $   117,900.00   $   112,000.00    1538     $72.82      1998    8/29/2003
REGULAR                    70     $    96,800.00   $    96,800.00   $   100,500.00    1080     $93.06      1997     9/2/2003
REGULAR                   107     $   113,000.00   $   108,000.00   $   110,000.00    1440     $76.39      1998     9/3/2003
REGULAR                    95     $   127,900.00   $   124,900.00   $   124,900.00    1742     $71.70      1994    9/23/2003
HUD                        5      $    88,000.00   $    88,000.00   $    88,000.00    1396     $63.04      1999    9/24/2003
BANK                       55     $    99,900.00   $    94,900.00   $   100,150.00    1410     $71.03      1998    10/10/2003
HUD                        5      $    90,000.00   $    90,000.00   $    88,288.00    1644     $53.70      1998    10/21/2003
REGULAR                   169     $   104,900.00   $    98,900.00   $   105,900.00    1200     $88.25      1995    10/27/2003
BANK                       35     $    97,500.00   $    97,500.00   $    97,500.00    1136     $85.83      1994    10/31/2003
HUD                        68     $    91,000.00   $    81,900.00   $    81,900.00    1370     $59.78      1999    11/6/2003
REGULAR                    60     $   106,900.00   $   106,900.00   $   105,000.00    1340     $78.36      1995    11/21/2003
HUD                        61     $    93,000.00   $    93,000.00   $    96,001.00    1658     $57.90      1998    12/17/2003
HUD                       117     $    95,000.00   $    95,000.00   $    95,100.00    1980     $48.03      1998    12/19/2003
HUD                        5      $    95,000.00   $    95,000.00   $    99,000.00    1808     $54.76      1999    12/19/2003
REGULAR                    91     $   104,900.00   $   104,900.00   $   104,900.00    1208     $86.84      1994    12/19/2003
REGULAR                    77     $   104,900.00   $   104,900.00   $   100,000.00    1411     $70.87      1995    12/19/2003
REGULAR                    95     $   112,900.00   $   105,900.00   $   109,900.00    1411     $77.89      1995    12/19/2003
HUD                        13     $    90,000.00   $    90,000.00   $    90,000.00    1440     $62.50      1999    12/23/2003

Total 2003                        $ 3,403,851.00   $ 3,333,700.00   $ 3,332,089.00   47742     $69.79

REGULAR                   114     $    92,900.00   $    89,900.00   $    89,900.00    960      $93.65      1995     1/9/2004
HUD                        5      $    76,000.00   $    76,000.00   $    76,000.00    1178     $64.52      1998    1/23/2004
HUD                        11     $    97,000.00   $    97,000.00   $    86,700.00    1880     $46.12      1998    1/23/2004
HUD                        10     $    96,000.00   $    96,000.00   $    96,000.00    1880     $51.06      1998     3/9/2004
HUD                        31     $    95,000.00   $    95,000.00   $    88,000.00    1846     $47.67      1999    3/17/2004
HUD                        10     $    80,000.00   $    80,000.00   $    79,000.00    1216     $64.97      1999    3/26/2004
HUD                        11     $    89,000.00   $    89,000.00   $    89,100.00    1872     $47.60      1999    3/26/2004
REGULAR                    7      $   102,000.00   $   105,000.00   $   105,000.00    1052     $99.81      1994     4/2/2004
REGULAR                    29     $   107,000.00   $   107,000.00   $   105,500.00    1204     $87.62      1998    4/27/2004
REGULAR                   124     $   115,000.00   $   109,900.00   $   104,000.00    1264     $82.28      1996     5/3/2004
HUD                        5      $    84,000.00   $    84,000.00   $    85,520.00    1776     $48.15      1998    5/19/2004
HUD                        32     $   105,000.00   $   105,000.00   $    90,511.00    1606     $56.36      1999    5/20/2004
HUD                        10     $    78,000.00   $    78,000.00   $    74,000.00    1384     $53.47      1996    5/21/2004
REGULAR                    37     $   117,900.00   $   119,900.00   $   111,000.00    1438     $77.19      1995    5/28/2004
HUD                       124     $    95,000.00   $    95,000.00   $    89,000.00    1650     $53.94      1996    5/30/2004
HUD                        33     $    80,000.00   $    80,000.00   $    80,500.00    1319     $61.03      1999    6/10/2004
HUD                        10     $    84,500.00   $    84,500.00   $    85,800.00    1640     $52.32      1998    6/25/2004
HUD                        10     $    90,000.00   $    90,000.00   $    90,000.00    1776     $50.68      1998     7/6/2004
HUD                        5      $    85,000.00   $    85,000.00   $    90,000.00    1538     $58.52      1998    7/12/2004
HUD                        40     $    93,000.00   $    93,000.00   $    93,100.00    1538     $60.53      1998    8/13/2004
BANK                      140     $    94,900.00   $    89,999.00   $    90,000.00    1640     $54.88      1998     9/1/2004
BANK                      154     $   112,900.00   $    98,300.00   $    95,000.00    1808     $52.54      1999     9/7/2004
HUD                        24     $    92,000.00   $    92,000.00   $    82,700.00    1776     $46.57      1998    9/10/2004
BANK                       33     $   102,900.00   $    74,900.00   $    74,902.00    1124     $66.64      1994    9/17/2004
HUD                        26     $    95,000.00   $    95,000.00   $    96,218.00    1776     $54.18      1998    9/24/2004
HUD                        40     $    75,000.00   $    75,000.00   $    75,100.00    1038     $72.35      1998    10/11/2004
HUD                        10     $    79,000.00   $    79,000.00   $    70,700.00    1200     $58.92      1998    10/12/2004
BANK                      255     $   115,900.00   $   102,900.00   $    94,000.00    1540     $61.04      1997    10/12/2004
HUD                        10     $    85,000.00   $    85,000.00   $    76,200.00    1236     $61.65      1998    10/19/2004
HUD                        5      $    90,000.00   $    90,000.00   $    90,062.00    1207     $74.62      1999    10/19/2004
REGULAR                    98     $   108,900.00   $   106,500.00   $   109,000.00    1384     $78.76      1996    12/17/2004

Total 2004                        $ 2,913,800.00   $ 2,847,799.00   $ 2,762,513.00   45746     $60.38

HUD                        10     $    75,000.00   $    75,000.00   $    70,973.00    1208     $58.75      1995     1/3/2005
HUD                       122     $    80,000.00   $    80,000.00   $    75,111.00    1200     $62.59      1998    1/18/2005




Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com    wwwlLIvingInPike.com
                                                                                                                        Page 37




Case Study #3 - Cooper Pointe (Page 4 of 5)
Type of                  Days     Original List    List Price At    Sale             Square     $ Per      Year      Close
Sale                      On      Price            Closing          Price            Footage Square Foot   Built     Date
                        Market

REGULAR                   314     $   109,900.00   $   103,000.00   $   104,000.00    1236     $84.14      1999     2/7/2005
HUD                        10     $    86,000.00   $    86,000.00   $    88,000.00    2004     $43.91      1998     3/2/2005
REGULAR                    33     $   104,900.00   $   104,900.00   $   104,900.00    1208     $86.84      1995    3/23/2005
REGULAR                    94     $   122,900.00   $   122,900.00   $   115,000.00    1538     $74.77      1998    3/25/2005
REGULAR                    88     $   129,900.00   $   129,900.00   $   131,500.00    1708     $76.99      1997     5/5/2005
REGULAR                    18     $   112,500.00   $   112,500.00   $   111,500.00    1418     $78.63      1995    5/20/2005
AGENT OWNED               823     $   117,000.00   $   118,500.00   $   118,500.00    1540     $76.95      1997    5/24/2005
HUD                        11     $    88,000.00   $    88,000.00   $    88,350.00    1200     $73.63      1998     6/3/2005
HUD                        10     $    85,000.00   $    85,000.00   $    95,000.00    1708     $55.62      1997     6/7/2005
HUD                        10     $    94,000.00   $    94,000.00   $    97,450.00    1538     $63.36      1995    6/17/2005
REGULAR                   284     $   135,000.00   $   121,500.00   $   121,500.00    1776     $68.41      1998    6/23/2005
HUD                        10     $    80,000.00   $    80,000.00   $    80,000.00    1319     $60.65      1999    6/24/2005
REGULAR                    25     $   114,500.00   $   114,500.00   $   112,000.00    1872     $59.83      1998    6/24/2005
HUD                        11     $    89,000.00   $    89,000.00   $    87,200.00    1540     $56.62      1996    7/29/2005
HUD                        80     $    75,000.00   $    67,500.00   $    74,000.00    1099     $67.33      1996    8/25/2005
HUD                        11     $    90,000.00   $    90,000.00   $    95,132.00    1538     $61.85      1994     9/6/2005
HUD                        10     $    85,000.00   $    85,000.00   $    85,000.00    1552     $54.77      1997     9/7/2005
BANK                      202     $    98,500.00   $    87,950.00   $    89,900.00    1232     $72.97      1994    9/12/2005
HUD                        10     $    85,000.00   $    85,000.00   $    95,000.00    1776     $53.49      1998    9/15/2005
HUD                        11     $    75,000.00   $    75,000.00   $    75,000.00    1264     $59.34      1997    9/20/2005
REGULAR                    5      $   105,000.00   $   105,000.00   $   105,000.00    1236     $84.95      1998    11/1/2005
HUD                        11     $    85,000.00   $    85,000.00   $    85,000.00    1538     $55.27      1998    12/1/2005
REGULAR                    14     $    99,900.00   $    99,900.00   $    99,900.00    1180     $84.66      1994    12/13/2005
REGULAR                    41     $    99,999.00   $    99,999.00   $    98,000.00    1264     $77.53      1996    12/16/2005
REGULAR                    70     $   115,000.00   $   115,000.00   $   112,000.00    1424     $78.65      1996    12/16/2005
CORPORATE                  37     $    89,900.00   $    89,900.00   $    85,000.00    1568     $54.21      1995    12/23/2005
HUD                        45     $    97,000.00   $    97,000.00   $   106,221.00    1688     $62.93      1997    12/29/2005

Total 2005                        $ 2,823,899.00   $ 2,786,949.00   $ 2,806,137.00   42372     $66.23

REGULAR                   135     $   124,900.00   $   119,900.00   $   119,000.00    1540     $77.27      1996     1/3/2006
HUD                        10     $    99,000.00   $    99,000.00   $    99,197.00    1980     $50.10      1999    1/24/2006
HUD                       158     $    93,000.00   $    93,000.00   $    93,000.00    1742     $53.39      1995     2/2/2006
REGULAR                    84     $   138,000.00   $   138,000.00   $   138,000.00    1980     $69.70      1999    2/17/2006
REGULAR                    94     $   121,500.00   $   120,000.00   $   120,600.00    1756     $68.68      1999    2/22/2006
REGULAR                    25     $    99,900.00   $    99,900.00   $    99,900.00    1038     $96.24      1998    2/24/2006
REGULAR                    0      $   122,900.00   $   122,900.00   $   119,900.00    1540     $77.86      1997    3/31/2006
REGULAR                    13     $   120,000.00   $   124,000.00   $   124,000.00    1776     $69.82      1999    5/15/2006
BANK                       47     $   114,500.00   $   112,590.00   $   112,900.00    1408     $80.19      1995    5/30/2006
AGENT OWNED               127     $   119,000.00   $   119,000.00   $   117,500.00    1538     $76.40      1998    5/31/2006
HUD                        31     $    73,000.00   $    73,000.00   $    59,250.00    960      $61.72      1999    6/23/2006
BANK                       10     $    84,900.00   $    84,900.00   $    87,200.00    1580     $55.19      1995     7/5/2006
AGENT OWNED               146     $   140,000.00   $   138,000.00   $   130,000.00    1980     $65.66      1999    7/31/2006
HUD                        7      $    89,000.00   $    89,000.00   $   103,000.00    1634     $63.04      1999     8/2/2006
HUD                        70     $    97,000.00   $    97,000.00   $   102,601.00    1776     $57.77      1998    8/14/2006
REGULAR                   178     $   105,900.00   $   102,900.00   $   108,000.00    1124     $96.09      1997    8/25/2006
HUD                        10     $    86,000.00   $    86,000.00   $    90,500.00    1558     $58.09      1997    8/30/2006
REGULAR                   103     $   114,900.00   $   109,900.00   $   109,900.00    1264     $86.95      1995    9/15/2006
HUD                        10     $    80,000.00   $    80,000.00   $    90,100.00    1236     $72.90      1998    9/20/2006
HUD                        53     $    85,000.00   $    85,000.00   $    86,000.00    1528     $56.28      1997    9/20/2006
REGULAR                    68     $   123,900.00   $   123,900.00   $   117,500.00    1544     $76.10      1998    10/16/2006
REGULAR                    39     $   119,900.00   $   119,900.00   $   105,000.00    1580     $66.46      1995    10/23/2006
REGULAR                   149     $    95,000.00   $    95,000.00   $    95,800.00    1319     $72.63      1999    12/15/2006
REGULAR                   163     $   127,000.00   $   127,000.00   $   124,900.00    1760     $70.97      1995    12/15/2006

Total 2006                        $ 2,574,200.00   $ 2,559,790.00   $ 2,553,748.00   37141     $68.76




Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com    wwwlLIvingInPike.com
                                                                                                                        Page 38




Case Study #3 - Cooper Pointe (Page 5 of 5)
Type of                  Days     Original List    List Price At    Sale             Square     $ Per      Year      Close
Sale                      On      Price            Closing          Price            Footage Square Foot   Built     Date
                        Market

REGULAR                    38     $   128,000.00   $   128,000.00   $   128,000.00    1328     $96.39      1995    1/26/2007
HUD                        60     $    94,000.00   $    94,000.00   $    70,000.00    1218     $57.47      1997    2/27/2007
REGULAR                   144     $   104,900.00   $   104,900.00   $   100,000.00    1171     $85.40      1995    2/28/2007
CORPORATE                 167     $   104,900.00   $   104,900.00   $   106,000.00    1540     $68.83      1997     3/5/2007
REGULAR                    69     $   117,900.00   $   117,900.00   $   117,900.00    1880     $62.71      1998     3/9/2007
HUD                        45     $    86,000.00   $    86,000.00   $    86,089.00    1304     $66.02      1996    3/20/2007
REGULAR                    38     $   106,900.00   $   106,900.00   $   104,000.00    1410     $73.76      1997    3/21/2007
HUD                        80     $    90,000.00   $    90,000.00   $    87,500.00    1550     $56.45      1997    3/26/2007
CORPORATE                 101     $   117,900.00   $   117,900.00   $   108,000.00    1644     $65.69      1996    3/30/2007
BANK                      110     $    96,500.00   $    96,500.00   $    94,000.00    1052     $89.35      1994    4/19/2007
VA                         33     $    95,500.00   $    95,500.00   $    94,500.00    1052     $89.83      1998    5/21/2007
HUD                        66     $   113,000.00   $   113,000.00   $   105,000.00    1776     $59.12      1999     6/5/2007
REGULAR                    69     $   110,900.00   $   110,900.00   $   110,900.00    1411     $78.60      2002    6/10/2007
BANK                       12     $   105,000.00   $   105,000.00   $   101,000.00    1644     $61.44      1996    6/21/2007
REGULAR                    12     $   109,000.00   $   109,000.00   $   109,000.00    1538     $70.87      1998    9/17/2007
REGULAR                    62     $   119,000.00   $   119,000.00   $   119,000.00    1540     $77.27      1997    9/21/2007
HUD                       130     $    95,000.00   $    95,000.00   $    87,000.00    1764     $49.32      1998    9/28/2007
HUD                       335     $    96,000.00   $    96,000.00   $    80,000.00    2016     $39.68      1999    10/1/2007
BANK                       18     $    99,900.00   $    99,900.00   $    99,900.00    1540     $64.87      1999    10/18/2007
PRE-FORECLOSURE           113     $    90,000.00   $    90,000.00   $    88,000.00    1136     $77.47      1995    10/31/2007
PRE-FORECLOSURE           113     $    99,500.00   $    99,500.00   $    87,000.00    1686     $51.60      1995    11/30/2007
CORPORATE                  41     $    96,000.00   $    96,000.00   $    83,000.00    1264     $65.67      1995    12/20/2007
SHORT SALE                121     $   105,000.00   $   102,900.00   $   101,500.00    1776     $57.15      1998    12/20/2007
HUD                        11     $    84,000.00   $    84,000.00   $    73,100.00    1248     $58.57      1997    12/26/2007

Total 2007                        $ 2,464,800.00   $ 2,462,700.00   $ 2,340,389.00   35488     $65.95

BANK                       70     $    96,000.00   $    89,900.00   $    79,500.00    1540     $51.62      1996    3/19/2008
VA                         40     $    76,800.00   $    71,500.00   $    71,500.00    1707     $41.89      1997    6/12/2008
REGULAR                    71     $   113,900.00   $   109,900.00   $   111,990.00    1411     $79.37      1995    7/17/2008
REGULAR                   362     $   127,900.00   $   104,900.00   $    99,900.00    1808     $55.25      1999    7/18/2008

Total as of 7/18/2008             $   414,600.00   $   376,200.00   $   362,890.00    6466     $56.12




Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com    wwwlLIvingInPike.com
                                                                                                                              Page 39




Case Study #4 - Lakeside Manor (Page 1 of 5)
Type of                  Days      Original List    List Price At       Sale         Square       $ Per    Year       Close
Sale                      On          Price           Closing           Price        Footage   Square Foot Built      Date
                        Market

REGULAR-ORIGINAL           1      $   104,431.00   $   104,431.00   $   104,431.00    1271     $     82.16 1999 11/30/1999
REGULAR-ORIGINAL          133     $   108,900.00   $   105,500.00   $   105,500.00    1246     $     84.67 1997 12/10/1999

Total 1999                        $   213,331.00   $   209,931.00   $   209,931.00    2517     $     83.41

REGULAR-ORIGINAL           0      $    99,100.00   $    99,100.00   $    99,100.00    1202     $     82.45   2000 3/20/2000
REGULAR                    12     $   104,000.00   $   104,000.00   $   104,000.00    1498     $     69.43   1997 3/24/2000
REGULAR-ORIGINAL           0      $   123,695.00   $   123,695.00   $   123,595.00    1656     $     74.64   2000 4/26/2000
REGULAR-ORIGINAL           0      $   126,297.00   $   126,297.00   $   126,297.00    1538     $     82.12   2000 4/26/2000
REGULAR                   173     $   125,900.00   $   119,900.00   $   117,000.00    1757     $     66.59   1997   5/3/2000
REGULAR-ORIGINAL           0      $   111,257.00   $   111,257.00   $   111,257.00    1338     $     83.15   2000   5/5/2000
REGULAR-ORIGINAL           0      $   122,035.00   $   122,035.00   $   122,035.00    1500     $     81.36   2000 5/25/2000
HUD                       102     $   105,000.00   $    84,000.00   $    81,000.00    1344     $     60.27   1998   6/6/2000
REGULAR-ORIGINAL           0      $   106,304.00   $   106,304.00   $   106,304.00    1274     $     83.44   2000 7/26/2000
REGULAR-ORIGINAL           0      $   117,785.00   $   117,785.00   $   113,027.00    1500     $     75.35   2000 7/26/2000
REGULAR-ORIGINAL           0      $   105,498.00   $   105,498.00   $   105,498.00    1017     $    103.74   2000 9/20/2000
REGULAR-ORIGINAL           0      $   133,303.00   $   133,303.00   $   133,303.00    2097     $     63.57   2000 9/26/2000
REGULAR-ORIGINAL           0      $   138,931.00   $   138,931.00   $   138,931.00    2097     $     66.25   2000 9/27/2000
REGULAR-ORIGINAL           0      $   104,480.00   $   104,480.00   $   104,480.00    1274     $     82.01   2000 11/14/2000
REGULAR                   135     $   104,900.00   $    99,900.00   $   104,500.00    1344     $     77.75   1998 12/12/2000

Total 2000                        $ 1,728,485.00   $ 1,696,485.00   $ 1,690,327.00    22436    $     75.34

REGULAR                    79     $    97,900.00   $    97,900.00   $    94,000.00    1196     $     78.60   1998 1/30/2001
REGULAR-ORIGINAL           0      $   131,385.00   $   131,385.00   $   131,382.00    2027     $     64.82   2000 1/31/2001
REGULAR-ORIGINAL           0      $   125,824.00   $   125,824.00   $   126,789.00    1749     $     72.49   2001 2/27/2001
HUD                        10     $    90,000.00   $    90,000.00   $    82,000.00    1390     $     58.99   1997 7/18/2001
REGULAR                    27     $    97,500.00   $    94,900.00   $    92,000.00    1017     $     90.46   1997 7/27/2001
REGULAR                    18     $    94,900.00   $    94,900.00   $    92,900.00    1202     $     77.29   1998 8/30/2001
HUD                        48     $    90,000.00   $    90,000.00   $    82,650.00    1196     $     69.11   1998   9/6/2001
REGULAR                   104     $   108,900.00   $   106,900.00   $   104,500.00    1390     $     75.18   1997 12/12/2001
HUD                        5      $    90,000.00   $    90,000.00   $    83,500.00    1390     $     60.07   1998 12/28/2001

Total 2001                        $   926,409.00   $   921,809.00   $   889,721.00    12557    $     70.85

HUD                        18     $    88,000.00   $    88,000.00   $    80,000.00    1447     $     55.29   1999    1/18/2002
HUD                       179     $   125,000.00   $   112,500.00   $    94,400.00    1683     $     56.09   1999    3/11/2002
HUD                       110     $   108,000.00   $    87,480.00   $    83,000.00    1649     $     50.33   1998    3/13/2002
REGULAR                   110     $   134,900.00   $   141,900.00   $   133,900.00    2097     $     63.85   1999    4/25/2002
HUD                        5      $    85,000.00   $    85,000.00   $    94,000.00    1196     $     78.60   1998     5/8/2002
REGULAR                    45     $   104,900.00   $   104,900.00   $   100,000.00    1552     $     64.43   1997    6/27/2002
AGENT OWNED                64     $   114,900.00   $   114,900.00   $   112,500.00    1649     $     68.22   1998     8/9/2002
REGULAR                   129     $   134,000.00   $   125,500.00   $   130,380.00    2170     $     60.08   1999    8/23/2002
PRE-FORECLOSURE           131     $   102,900.00   $   102,900.00   $   102,900.00    1390     $     74.03   1998    8/28/2002
HUD                        5      $    95,000.00   $    95,000.00   $   108,000.00    2193     $     49.25   1997    9/26/2002
HUD                        18     $    81,000.00   $    81,000.00   $    72,000.00    1030     $     69.90   1998   10/11/2002
REGULAR                   116     $    99,900.00   $    94,900.00   $    90,000.00    1196     $     75.25   1997   10/11/2002
HUD                        47     $   100,000.00   $   100,000.00   $   110,000.00    2170     $     50.69   1999   10/11/2002
REGULAR                    41     $    99,900.00   $    99,900.00   $    98,900.00    1196     $     82.69   1998   10/31/2002
BANK                       15     $    89,999.00   $    89,999.00   $    89,999.00    1196     $     75.25   2000   12/11/2002
HUD                        6      $    85,000.00   $    85,000.00   $    85,000.00    2172     $     39.13   1998   12/12/2002
HUD                        21     $    90,000.00   $    90,000.00   $    90,000.00    1030     $     87.38   1998   12/12/2002
REGULAR                   164     $   103,500.00   $    95,500.00   $   100,000.00    1202     $     83.20   1998   12/13/2002

Total 2002                        $ 1,841,899.00   $ 1,794,379.00   $ 1,774,979.00    28218    $     62.90

HUD                       63      $    95,000.00   $    85,500.00   $    80,000.00    1390     $     57.55 1998      1/30/2003
HUD                       68      $   109,000.00   $    98,100.00   $    98,000.00    1691     $     57.95 1997      3/31/2003




Foreclosure Study For Pike Township 2007 by Tim Lord   wwwlTimLordRealtor.com    www.LivingInPIke.com
                                                                                                                              Page 40




Case Study #4 - Lakeside Manor (Page 2 of 5)
Type of                  Days      Original List    List Price At       Sale         Square       $ Per    Year       Close
Sale                      On          Price           Closing           Price        Footage   Square Foot Built      Date
                        Market

REGULAR                   136     $    97,900.00   $    93,900.00   $    91,000.00    1030     $     88.35   1998 4/23/2003
HUD                        5      $    93,000.00   $    93,000.00   $    93,000.00    1196     $     77.76   2000 5/16/2003
HUD                        82     $    90,000.00   $    81,000.00   $    77,305.00    1043     $     74.12   1997 5/27/2003
HUD                        5      $    97,000.00   $    97,000.00   $    97,000.00    1691     $     57.36   1999 5/30/2003
HUD                        5      $   109,000.00   $   109,000.00   $   109,000.00    2172     $     50.18   1998 5/30/2003
REGULAR                    44     $    99,900.00   $    97,500.00   $    94,000.00    1270     $     74.02   1999 6/23/2003
HUD                        33     $    82,000.00   $    82,000.00   $    80,000.00    1196     $     66.89   2000   7/1/2003
HUD                        34     $    85,000.00   $    85,000.00   $    81,000.00    1196     $     67.73   1999 7/28/2003
HUD                        70     $    77,000.00   $    77,000.00   $    67,599.00    1196     $     56.52   1998 7/29/2003
HUD                        5      $   108,000.00   $   108,000.00   $   108,000.00    2734     $     39.50   1999 7/30/2003
BANK                       68     $    92,900.00   $    88,000.00   $    88,000.00    1246     $     70.63   1999 8/22/2003
REGULAR                    66     $   109,900.00   $   112,900.00   $   112,900.00    1390     $     81.22   1997 9/26/2003
REGULAR                    54     $   110,000.00   $   110,000.00   $   110,000.00    1636     $     67.24   1999 10/2/2003
HUD                        5      $    97,000.00   $    97,000.00   $    97,000.00    1860     $     52.15   2001 10/7/2003
HUD                        66     $    92,000.00   $    82,800.00   $    83,000.00    1196     $     69.40   1999 10/31/2003
HUD                        40     $    82,000.00   $    82,000.00   $    80,000.00    1390     $     57.55   2001 12/20/2003
REGULAR                   122     $   129,900.00   $   129,900.00   $   120,000.00    2170     $     55.30   1999 12/29/2003

Total 2003                        $ 1,856,500.00   $ 1,809,600.00   $ 1,766,804.00    28693    $     61.58

HUD                        10     $    83,000.00   $    83,000.00   $    80,600.00    1390     $     57.99   2000    2/12/2004
HUD                        5      $    83,000.00   $    83,000.00   $    85,000.00    1390     $     61.15   1999    3/15/2004
HUD                        14     $    78,000.00   $    78,000.00   $    72,001.00    1196     $     60.20   2000    3/18/2004
HUD                        11     $   113,000.00   $   102,000.00   $    91,200.00    2048     $     44.53   2000     4/1/2004
AGENT OWNED                58     $   102,500.00   $   102,500.00   $   102,000.00    1020     $    100.00   1997     5/4/2004
HUD                        27     $    97,000.00   $    97,000.00   $    94,000.00    1691     $     55.59   1999    5/19/2004
HUD                        5      $   115,000.00   $   115,000.00   $   110,000.00    2175     $     50.58   2000    5/19/2004
HUD                        5      $    80,000.00   $    80,000.00   $    80,000.00    1196     $     66.89   2000    5/28/2004
HUD                        61     $    82,000.00   $    82,000.00   $    80,000.00    1390     $     57.55   1999    6/10/2004
HUD                        5      $    82,000.00   $    82,000.00   $    84,900.00    1390     $     61.08   2000    6/10/2004
HUD                        31     $    90,000.00   $    90,000.00   $    85,000.00    1271     $     66.88   2000    6/14/2004
HUD                        13     $    83,000.00   $    83,000.00   $    78,750.00    1196     $     65.84   2000    6/17/2004
SHORT SALE                104     $    99,900.00   $    83,000.00   $    83,000.00    1274     $     65.15   2000    6/28/2004
VA                         44     $   105,600.00   $   105,600.00   $   106,800.00    1807     $     59.10   1999    7/14/2004
REGULAR                    57     $   146,900.00   $   144,900.00   $   139,600.00    2157     $     64.72   2000    7/26/2004
HUD                        33     $    97,000.00   $    97,000.00   $    88,000.00    1749     $     50.31   2000    7/28/2004
REGULAR                    16     $   104,900.00   $   104,900.00   $    99,800.00    1390     $     71.80   1998    7/28/2004
HUD                        47     $    75,000.00   $    75,000.00   $    72,500.00    1196     $     60.62   1998    7/30/2004
REGULAR                    63     $   102,500.00   $    99,900.00   $    95,000.00    1264     $     75.16   1998    8/17/2004
HUD                       173     $    75,000.00   $    67,500.00   $    62,800.00    1196     $     52.51   1998    8/23/2004
PRE-FORECLOSURE            96     $   109,900.00   $   114,900.00   $   110,000.00    2157     $     51.00   2000    8/23/2004
REGULAR                    64     $   117,900.00   $   117,900.00   $   110,000.00    1390     $     79.14   2000    8/30/2004
REGULAR                    76     $   104,900.00   $    94,900.00   $    96,900.00    1196     $     81.02   1997    8/31/2004
HUD                        5      $    80,000.00   $    80,000.00   $    80,000.00    1196     $     66.89   1998     9/7/2004
REGULAR                   170     $   112,000.00   $   110,000.00   $   108,000.00    1356     $     79.65   1997    10/4/2004
HUD                        12     $    90,000.00   $    90,000.00   $    85,000.00    1725     $     49.28   1999    11/4/2004
BANK                      145     $   149,900.00   $   149,600.00   $   145,000.00    2856     $     50.77   2000    11/9/2004
REGULAR                    45     $    99,950.00   $    99,950.00   $    99,000.00    1196     $     82.78   1998   11/18/2004
BANK                      207     $   139,900.00   $   132,590.00   $   122,000.00    2128     $     57.33   1998   11/22/2004
HUD                        5      $    85,000.00   $    85,000.00   $    79,500.00    2170     $     36.64   1998    12/1/2004
HUD                        26     $   110,000.00   $   110,000.00   $   108,100.00    2147     $     50.35   1998    12/1/2004
BANK                      124     $    99,900.00   $    94,900.00   $    94,900.00    1336     $     71.03   1997   12/13/2004
REGULAR                   115     $   129,900.00   $   129,900.00   $   127,000.00    1725     $     73.62   1999   12/21/2004
HUD                        5      $    83,000.00   $    83,000.00   $    83,000.00    1390     $     59.71   1998   12/23/2004

Total 2004                        $ 3,407,550.00   $ 3,347,940.00   $ 3,239,351.00    53354    $     60.71

AGENT OWNED               102     $   125,900.00   $   125,900.00   $   120,500.00    1749     $     68.90 2000      1/21/2005




Foreclosure Study For Pike Township 2007 by Tim Lord   wwwlTimLordRealtor.com    www.LivingInPIke.com
                                                                                                                              Page 41




Case Study #4 - Lakeside Manor (Page 3 of 5)
Type of                  Days      Original List    List Price At       Sale         Square       $ Per    Year       Close
Sale                      On          Price           Closing           Price        Footage   Square Foot Built      Date
                        Market

HUD                        45     $    81,000.00   $    81,000.00   $    79,000.00    1196     $     66.05   2000    1/25/2005
HUD                        5      $   112,000.00   $   112,000.00   $   113,000.00    2170     $     52.07   1999    1/28/2005
REGULAR                    10     $   138,950.00   $   138,950.00   $   138,950.00    2188     $     63.51   1999    2/15/2005
REGULAR                    97     $    99,900.00   $    99,900.00   $    98,500.00    1278     $     77.07   1997    3/16/2005
BANK                       63     $   134,500.00   $   129,500.00   $   128,000.00    2856     $     44.82   2000    3/30/2005
REGULAR                    1      $    96,900.00   $    96,900.00   $    96,900.00    1196     $     81.02   1998     4/8/2005
REGULAR                    63     $   112,900.00   $   112,900.00   $   113,900.00    1498     $     76.04   1997    4/28/2005
AGENT OWNED               346     $   131,900.00   $   131,900.00   $   131,900.00    2048     $     64.40   2000    4/29/2005
REGULAR                   155     $   146,900.00   $   146,900.00   $   143,900.00    2154     $     66.81   2001    4/29/2005
HUD                        10     $   105,000.00   $   105,000.00   $   110,000.00    2175     $     50.58   1998     5/2/2005
REGULAR                    26     $   124,900.00   $   128,000.00   $   127,800.00    1707     $     74.87   2000     5/6/2005
REGULAR                    67     $   104,900.00   $   104,900.00   $   104,000.00    1200     $     86.67   1999    5/26/2005
REGULAR                    69     $   104,900.00   $    99,000.00   $    99,000.00    1196     $     82.78   1997    5/27/2005
REGULAR                   121     $   119,925.00   $   114,500.00   $   112,500.00    1309     $     85.94   1998    5/27/2005
REGULAR                    87     $   137,000.00   $   129,999.00   $   129,900.00    1808     $     71.85   2000     6/8/2005
REGULAR                   105     $   103,000.00   $    98,000.00   $    98,000.00    1273     $     76.98   1999    6/11/2005
HUD                        10     $   118,000.00   $   118,000.00   $   118,000.00    2670     $     44.20   2001    6/20/2005
HUD                        38     $   110,000.00   $   110,000.00   $   115,031.00    2048     $     56.17   2000    6/23/2005
REGULAR                    15     $   128,900.00   $   128,900.00   $   126,900.00    1725     $     73.57   1999    6/27/2005
PRE-FORECLOSURE           122     $   169,900.00   $   124,900.00   $   112,000.00    2191     $     51.12   1997    6/28/2005
REGULAR                   109     $   122,000.00   $   119,900.00   $   117,400.00    1725     $     68.06   1999     7/7/2005
REGULAR                    51     $   154,900.00   $   154,900.00   $   140,000.00    2806     $     49.89   1999    7/18/2005
REGULAR                    24     $   110,000.00   $   110,000.00   $   110,000.00    1390     $     79.14   2000    7/29/2005
REGULAR                   156     $   109,900.00   $   104,000.00   $   102,500.00    1390     $     73.74   1997    8/18/2005
REGULAR                    46     $   108,500.00   $   111,500.00   $   111,500.00    1390     $     80.22   1999    9/20/2005
HUD                        10     $   110,000.00   $   110,000.00   $   120,000.00    2152     $     55.76   1998    9/30/2005
REGULAR                    6      $   108,000.00   $   108,000.00   $   107,000.00    1400     $     76.43   1997    10/8/2005
HUD                        10     $    70,000.00   $    70,000.00   $    75,000.00    1030     $     72.82   2000   10/11/2005
HUD                        6      $   115,000.00   $   115,000.00   $   115,050.00    2188     $     52.58   1999   10/14/2005
BANK                       96     $   104,900.00   $   104,900.00   $   104,900.00    1773     $     59.17   1999   10/21/2005
HUD                       207     $    75,000.00   $    75,000.00   $    65,000.00    1030     $     63.11   1998   11/15/2005
REGULAR                    37     $   106,900.00   $   106,900.00   $   105,900.00    1196     $     88.55   1998   11/16/2005
HUD                        10     $   105,000.00   $   105,000.00   $   105,000.00    1749     $     60.03   2001   11/21/2005
REGULAR                    79     $   164,700.00   $   164,700.00   $   156,000.00    2856     $     54.62   2000   11/23/2005
HUD                        10     $    75,000.00   $    75,000.00   $    75,000.00    1043     $     71.91   1998   11/28/2005
HUD                        10     $    56,800.00   $    56,800.00   $    64,000.00    1025     $     62.44   2000   11/30/2005
REGULAR                    64     $   127,000.00   $   127,000.00   $   127,000.00    1614     $     78.69   1998   11/30/2005
VA                         15     $    88,900.00   $    88,900.00   $    93,500.00    1271     $     73.56   2000    12/2/2005
HUD                        10     $   111,000.00   $   111,000.00   $   116,010.00    2188     $     53.02   1999   12/16/2005

Total 2005                        $ 4,530,775.00   $ 4,455,549.00   $ 4,428,441.00    68851    $     64.32

HUD                        11     $   115,000.00   $   115,000.00   $   101,010.00    2157     $     46.83   2000    1/10/2006
HUD                        11     $   118,000.00   $   118,000.00   $   114,000.00    2237     $     50.96   2000    1/10/2006
REGULAR                    41     $   145,000.00   $   145,000.00   $   145,000.00    1683     $     86.16   1999     3/1/2006
AGENT OWNED                4      $   157,200.00   $   157,200.00   $   150,000.00    2237     $     67.05   2000     3/2/2006
HUD                        17     $    85,000.00   $    85,000.00   $    83,500.00    1196     $     69.82   2000    3/15/2006
REGULAR                    69     $   129,900.00   $   127,900.00   $   129,900.00    1853     $     70.10   2000    3/20/2006
HUD                       152     $    83,000.00   $    83,000.00   $    83,000.00    1390     $     59.71   1998    3/27/2006
HUD                        10     $   120,000.00   $   120,000.00   $   130,000.00    2858     $     45.49   2001    4/19/2006
HUD                        10     $    65,000.00   $    65,000.00   $    72,000.00    1030     $     69.90   1999    4/21/2006
HUD                       129     $    79,000.00   $    79,000.00   $    83,000.00    1196     $     69.40   2000    5/31/2006
HUD                        10     $    99,000.00   $    99,000.00   $   124,000.00    2237     $     55.43   2001    5/31/2006
HUD                        10     $    87,000.00   $    87,000.00   $    89,033.00    1196     $     74.44   1999    6/12/2006
HUD                       185     $   120,000.00   $   112,000.00   $   105,000.00    2271     $     46.24   2000    6/14/2006
REGULAR                    28     $   148,900.00   $   148,900.00   $   144,000.00    2854     $     50.46   1998    6/16/2006
REGULAR                    75     $   115,000.00   $   115,000.00   $   113,900.00    1390     $     81.94   1999    6/28/2006
REGULAR                    1      $   117,000.00   $   117,000.00   $   107,000.00    1196     $     89.47   2000    6/30/2006




Foreclosure Study For Pike Township 2007 by Tim Lord   wwwlTimLordRealtor.com    www.LivingInPIke.com
                                                                                                                              Page 42




Case Study #4 - Lakeside Manor (Page 4 of 5)
Type of                  Days      Original List    List Price At       Sale         Square       $ Per    Year       Close
Sale                      On          Price           Closing           Price        Footage   Square Foot Built      Date
                        Market

REGULAR                   101     $   112,000.00   $   119,500.00   $   119,500.00    1470     $     81.29   1998    7/25/2006
REGULAR                    41     $    88,900.00   $    83,800.00   $    82,800.00    1246     $     66.45   1999    8/15/2006
HUD                        47     $   120,000.00   $   120,000.00   $   107,103.00    1749     $     61.24   2000    8/23/2006
REGULAR                   121     $   159,900.00   $   149,900.00   $   144,000.00    2209     $     65.19   1997    8/25/2006
REGULAR                    16     $    92,900.00   $    92,900.00   $    87,500.00    1043     $     83.89   1997     9/1/2006
HUD                        10     $    98,000.00   $    98,000.00   $   105,000.00    2130     $     49.30   1998     9/7/2006
BANK                       53     $   122,900.00   $   122,900.00   $   122,000.00    2193     $     55.63   1997    9/29/2006
REGULAR                    66     $    99,500.00   $    98,000.00   $    96,300.00    1202     $     80.12   1998   10/10/2006
REGULAR                   110     $   108,900.00   $   111,800.00   $   111,800.00    1271     $     87.96   1999   10/10/2006
REGULAR                   127     $   130,000.00   $   125,000.00   $   121,500.00    1845     $     65.85   1999   10/27/2006
REGULAR                   102     $   129,000.00   $   129,000.00   $   129,900.00    2191     $     59.29   1997   11/22/2006
BANK                       47     $    97,500.00   $    97,500.00   $    94,000.00    1470     $     63.95   1998    12/1/2006
BANK                       43     $    84,900.00   $    84,900.00   $    84,900.00    1030     $     82.43   1998    12/8/2006
HUD                        10     $    81,000.00   $    81,000.00   $    85,264.00    1271     $     67.08   2000   12/14/2006

Total 2006                        $ 3,309,400.00   $ 3,288,200.00   $ 3,265,910.00    51301    $     63.66

REGULAR                   181     $   124,900.00   $   124,900.00   $   127,000.00    1725     $     73.62   1999 1/31/2007
BANK                       15     $   149,900.00   $   149,900.00   $   148,000.00    2858     $     51.78   2001 2/14/2007
BANK                       12     $    89,000.00   $    89,000.00   $    77,501.00    1336     $     58.01   2000 2/19/2007
BANK                       60     $    89,900.00   $    89,900.00   $    80,490.00    1636     $     49.20   1999 2/21/2007
BANK                       13     $   130,900.00   $   130,900.00   $   130,900.00    2947     $     44.42   1998 2/27/2007
HUD                        11     $    85,000.00   $    85,000.00   $    80,000.00    1458     $     54.87   1997 2/28/2007
HUD                       273     $    91,000.00   $    91,000.00   $    93,000.00    1699     $     54.74   2000 2/28/2007
HUD                        31     $   106,000.00   $   106,000.00   $   110,000.00    2170     $     50.69   1999   3/1/2007
REGULAR                    84     $    99,900.00   $    99,900.00   $    97,000.00    1264     $     76.74   1998 3/30/2007
HUD                        17     $   103,000.00   $   103,000.00   $    97,000.00    1754     $     55.30   2001   4/6/2007
REGULAR                    15     $   125,900.00   $   125,900.00   $   124,000.00    2048     $     60.55   2000   5/4/2007
HUD                        10     $   102,000.00   $   102,000.00   $   105,000.00    1762     $     59.59   1998   5/8/2007
BANK                      251     $   130,000.00   $   130,000.00   $   135,000.00    2856     $     47.27   2000 5/10/2007
REGULAR                    51     $   145,000.00   $   145,000.00   $   145,000.00    2271     $     63.85   2000 5/11/2007
HUD                       171     $   120,000.00   $   120,000.00   $    99,500.00    2856     $     34.84   2000 5/25/2007
AGENT OWNED                7      $    94,900.00   $    94,900.00   $    94,900.00    1030     $     92.14   1998 5/31/2007
HUD                        10     $    85,000.00   $    85,000.00   $    90,502.00    1200     $     75.42   2000   6/7/2007
SHORT SALE                162     $    90,000.00   $    90,000.00   $    90,000.00    1807     $     49.81   1997   7/1/2007
REGULAR                    61     $   140,000.00   $   140,000.00   $   140,000.00    2170     $     64.52   1999 7/17/2007
BANK                       14     $    93,000.00   $    93,000.00   $    94,500.00    1196     $     79.01   1997 7/18/2007
BANK                       27     $   121,275.00   $   121,275.00   $   111,000.00    2237     $     49.62   2000 7/25/2007
REGULAR                    45     $   116,900.00   $   116,900.00   $   117,500.00    1336     $     87.95   2000   8/1/2007
REGULAR                    64     $   105,000.00   $   105,000.00   $   105,000.00    1196     $     87.79   1998 8/13/2007
BANK                       20     $   102,000.00   $   102,000.00   $    96,300.00    1707     $     56.42   2000 8/24/2007
BANK                       37     $    76,900.00   $    76,900.00   $    64,700.00    1196     $     54.10   1998 9/20/2007
REGULAR                   158     $    99,000.00   $    99,000.00   $   102,000.00    1030     $     99.03   1999 10/12/2007
PRE-FORECLOSURE           177     $    90,000.00   $    90,000.00   $    86,500.00    1390     $     62.23   1999 10/30/2007
PRE-FORECLOSURE           144     $   106,500.00   $   106,500.00   $   106,500.00    2048     $     52.00   2000 11/5/2007
HUD                        10     $    88,500.00   $    88,500.00   $    88,500.00    1640     $     53.96   1999 11/14/2007

Total 2007                        $ 3,101,375.00   $ 3,101,375.00   $ 3,037,293.00    51823    $     58.61

BANK                       19     $   119,900.00   $   119,900.00   $   117,000.00    2856     $     40.97   2000    1/30/2008
HUD                       174     $   108,000.00   $   108,000.00   $    91,500.00    2154     $     42.48   2001    2/29/2008
AGENT OWNED                84     $   139,900.00   $   145,000.00   $   140,000.00    2237     $     62.58   2000    2/29/2008
AGENT OWNED                11     $   114,900.00   $   114,900.00   $   114,900.00    2259     $     50.86   2001    3/18/2008
HUD                        10     $    75,000.00   $    75,000.00   $    70,000.00    1196     $     58.53   1998    3/19/2008
BANK                       41     $   133,900.00   $   133,900.00   $   132,000.00    2856     $     46.22   2000    3/20/2008
BANK                       19     $    99,900.00   $    99,900.00   $    96,000.00    2188     $     43.88   1999    3/25/2008
REGULAR                    77     $   105,000.00   $   105,000.00   $   105,000.00    1314     $     79.91   1998    3/25/2008
HUD                        13     $    73,000.00   $    73,000.00   $    66,501.00    1200     $     55.42   1999    3/26/2008




Foreclosure Study For Pike Township 2007 by Tim Lord   wwwlTimLordRealtor.com    www.LivingInPIke.com
                                                                                                                             Page 43




Case Study #4 - Lakeside Manor (Page 5 of 5)
Type of                  Days      Original List    List Price At       Sale         Square       $ Per    Year      Close
Sale                      On          Price           Closing           Price        Footage   Square Foot Built     Date
                        Market

BANK                      206     $   119,900.00   $   107,700.00   $   107,288.00    2833     $     37.87   1999    4/4/2008
SHORT SALE                107     $   119,500.00   $   119,500.00   $    95,000.00    1538     $     61.77   2001    4/7/2008
REGULAR                   239     $   104,900.00   $    84,900.00   $    70,000.00    1470     $     47.62   1998   4/11/2008
HUD                        31     $   108,000.00   $   108,000.00   $    90,080.00    2091     $     43.08   2001   5/21/2008
HUD                        63     $    90,000.00   $    81,000.00   $    58,900.00    1322     $     44.55   1998   5/23/2008
REGULAR                    23     $   121,559.00   $   121,559.00   $   117,700.00    1470     $     80.07   1999   5/28/2008
REGULAR                    58     $   145,900.00   $   145,000.00   $   140,000.00    2157     $     64.91   2000   5/29/2008
AGENT OWNED                12     $    96,523.00   $    97,521.00   $    97,500.00    1196     $     81.52   1999   5/30/2008
REGULAR                   209     $   115,900.00   $   109,900.00   $   108,900.00    1196     $     91.05   1999    6/6/2008
BANK                      128     $   109,900.00   $    99,900.00   $   104,000.00    1725     $     60.29   1999   6/30/2008
REGULAR                   140     $   119,900.00   $   119,900.00   $   114,000.00    1390     $     82.01   1999   6/30/2008

Total as of 6/30/2008             $ 2,221,482.00   $ 2,169,480.00   $ 2,036,269.00    36648    $     55.56




Foreclosure Study For Pike Township 2007 by Tim Lord   wwwlTimLordRealtor.com    www.LivingInPIke.com
                                                                                                                                 Page 44




Case Study #5 - 6500 Georgetown (Page 1 of 2)
Type of                   Days    Original List     List Price At       Sale          Square       $ Per       Year      Close
Sale                       On        Price            Closing           Price         Footage   Square Foot    Built     Date
                         Market

REG-ORIGINAL               43     $   100,175.00   $   100,175.00   $   103,175.00      1281    $      80.54   2000 6/24/2000
REG-ORIGINAL               2      $   118,900.00   $   118,900.00   $   118,900.00      1500    $      79.27   2000 12/30/2000

Total 2000                        $   219,075.00   $   219,075.00   $   222,075.00      2781    $      79.85

REG-ORIGINAL               0      $   108,619.00   $   108,619.00   $   108,619.00      1120    $      96.98   2001 6/29/2001

Total 2001                        $   108,619.00   $   108,616.00   $   108,619.00      1120    $      96.98

REGULAR                    42     $   104,900.00   $   102,900.00   $   102,900.00      1273    $      80.83   2000 11/20/2002

Total 2002                        $   104,900.00   $   102,900.00   $   102,900.00      1273    $      80.93

HUD                        48     $    85,000.00   $    85,000.00   $    72,260.00      1285    $      56.23   1999 4/22/2003
CORPORATE OWNED           171     $   105,000.00   $    94,900.00   $    92,500.00      1285    $      71.98   1999 8/5/2003
HUD                       172     $    88,000.00   $    70,400.00   $    88,000.00      1285    $      68.48   1999 9/24/2003
HUD                        5      $    80,000.00   $    80,000.00   $    85,000.00      1478    $      57.51   2000 10/24/2003

Total 2003                        $   358,000.00   $   330,300.00   $   337,760.00      5333    $      63.33

REG-ORIGINAL               0      $    98,500.00   $    98,500.00   $    98,500.00      1281    $      76.89   2004     5/28/2004
REGULAR                   274     $   100,000.00   $   110,000.00   $    95,000.00      1281    $      74.16   1999    10/14/2004
REG-ORIGINAL               21     $    96,900.00   $    98,900.00   $    98,400.00      1246    $      78.97   2004    11/30/2004
HUD                        33     $    83,000.00   $    83,000.00   $    71,849.00      1285    $      55.91   2000     12/9/2004

Total 2004                        $   378,400.00   $   390,400.00   $   363,749.00      5093    $      71.42

REGULAR                    26     $    79,900.00   $    79,900.00   $    79,900.00      1184    $      67.48   2003     1/28/2005
REGULAR                    43     $    99,900.00   $    99,900.00   $    99,900.00      1477    $      67.64   2003     1/31/2005
AGENT OWNED               591     $   116,900.00   $   104,900.00   $   104,500.00      1478    $      70.70   2001     3/11/2005
REGULAR                    64     $   114,900.00   $   114,900.00   $    98,000.00      1285    $      76.26   2001     5/6/2005
REGULAR                    21     $    99,900.00   $    99,900.00   $    98,500.00      1285    $      76.65   2001     5/31/2005
REGULAR                   108     $   119,900.00   $   114,900.00   $   104,500.00      1489    $      70.18   1999     6/20/2005
REGULAR                    76     $   112,500.00   $   109,900.00   $   107,500.00      1285    $      83.66   2001     7/29/2005
REGULAR                    26     $   104,900.00   $   107,500.00   $    99,000.00      1184    $      83.62   2001     8/4/2005
HUD                        45     $    90,000.00   $    75,000.00   $    73,772.00      1220    $      60.47   2000     10/5/2005
HUD                        46     $    80,000.00   $    72,000.00   $    66,901.00      1273    $      52.55   1999    10/18/2005
REGULAR                    32     $   104,900.00   $   104,900.00   $   104,900.00      1281    $      81.89   2000     11/8/2005

Total 2005                        $ 1,123,700.00   $ 1,083,700.00   $ 1,037,373.00     14441    $      71.84

REGULAR                    70     $    89,900.00   $    89,900.00   $    87,900.00      1285    $      68.41   2000     2/27/2006
REGULAR                    14     $   107,900.00   $   107,900.00   $   106,500.00      1285    $      82.88   2004     8/25/2006
REGULAR                    27     $    95,000.00   $    95,000.00   $    89,000.00      1120    $      79.46   2003     9/29/2006
REGULAR                   169     $   102,900.00   $   102,900.00   $   100,000.00      1285    $      77.82   1999    12/15/2006

Total 2005                        $   395,700.00   $   395,700.00   $   383,400.00      4975    $      77.07

BANK                      134     $    78,900.00   $    78,900.00   $    80,000.00      1514    $      52.84   2003    1/16/2007
HUD                        10     $    80,000.00   $    80,000.00   $    83,000.00      1411    $      58.82   2000    2/9/2007
REGULAR                   116     $    89,900.00   $    89,900.00   $    88,000.00      1000    $      88.00   2000    2/27/2007
HUD                        52     $    75,000.00   $    75,000.00   $    75,000.00      1095    $      68.49   2000    3/1/2007
REGULAR                   227     $   105,000.00   $   105,000.00   $    99,000.00      1478    $      66.98   2003    3/30/2007
HUD                        21     $    75,000.00   $    75,000.00   $    68,000.00      1108    $      61.37   1999    3/30/2007
REGULAR                   140     $   110,500.00   $   110,500.00   $   107,500.00      1273    $      84.45   1999    4/10/2007
AGENT OWNED                28     $    88,900.00   $    88,900.00   $    87,000.00      1220    $      71.31   2000    4/17/2007
HUD                        53     $    77,000.00   $    77,000.00   $    61,800.00      1220    $      50.66   2000    4/19/2007
BANK                       26     $    75,500.00   $    75,500.00   $    75,500.00      1220    $      61.89   2000    4/23/2007




Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com        www.LivingInPike.com
                                                                                                                                 Page 45




Case Study #5 - 6500 Georgetown (Page 2 of 2)
Type of                   Days    Original List     List Price At       Sale          Square       $ Per       Year      Close
Sale                       On        Price            Closing           Price         Footage   Square Foot    Built     Date
                         Market

BANK                      131     $    95,000.00   $    95,000.00   $    94,000.00      1489    $      63.13   2001     4/25/2007
HUD                        48     $    70,000.00   $    70,000.00   $    56,600.00      1095    $      51.69   2001     5/8/2007
AGENT OWNED                52     $    84,500.00   $    84,500.00   $    82,000.00      1220    $      67.21   2000     8/14/2007
BANK                      124     $    82,270.00   $    82,270.00   $    82,250.00      1478    $      55.65   1999     9/26/2007
REGULAR                   109     $    89,000.00   $    89,000.00   $    88,400.00      1273    $      69.44   2004     9/26/2007
REGULAR                   112     $    84,500.00   $    84,500.00   $    84,250.00      1220    $      69.06   2000     9/28/2007
AGENT OWNED               128     $    94,900.00   $    94,900.00   $    92,900.00      1478    $      62.86   2003    10/12/2007
REGULAR                   188     $    93,500.00   $    93,500.00   $    93,500.00      1273    $      73.45   1999    10/19/2007
BANK                      181     $    79,900.00   $    72,900.00   $    69,999.00      1120    $      62.50   2003    11/27/2007
REGULAR                    11     $    85,000.00   $    85,000.00   $    86,000.00      1285    $      66.93   2000    12/21/2007
BANK                       70     $    59,000.00   $    59,000.00   $    54,500.00      1120    $      48.66   1999    12/28/2007

Total 2006                        $ 1,773,270.00   $ 1,766,270.00   $ 1,709,199.00     26590    $      64.28

HUD                        60     $    80,000.00   $    75,000.00   $    53,000.00      1284    $      41.28   2003    1/25/2008
VA                        245     $    74,920.00   $    58,000.00   $    55,000.00      1120    $      49.11   2000    2/13/2008
REGULAR                    50     $    79,500.00   $    79,500.00   $    77,000.00      1285    $      59.92   2003    3/28/2008
HUD                       152     $    70,000.00   $    55,000.00   $    27,500.00      940     $      29.26   2000    5/28/2008
HUD                        14     $    83,000.00   $    83,000.00   $    79,000.00      1484    $      53.23   2002    6/23/2008
HUD                        81     $    91,000.00   $    73,000.00   $    51,700.00      1500    $      34.47   2003    6/26/2008
BANK                       11     $    69,900.00   $    69,900.00   $    66,500.00      1285    $      51.75   2004    7/11/2008

Total as of 7/11/2008             $   548,320.00   $   493,400.00   $   409,700.00      8898    $      46.04




Foreclosure Study For Pike Township 2007 by Tim Lord   www.TimLordRealtor.com        www.LivingInPike.com
                                                                                                                                Page 46

Case Study #6 - Parkside at Georgetown (Page 1 of 1)
Type of                 Days    Original List     List Price At       Sale         Square     $ Per        Year      Close
Sale                     On        Price            Closing           Price        Footage Square Foot     Built     Date
                       Market

REG-ORIGINAL            0       $   112,710.00   $   112,710.00   $   118,511.00    1514      $78.28       2002    1/9/2003
REG-ORIGINAL            0       $   103,730.00   $   103,730.00   $   103,730.00    1331      $77.93       2003    6/11/2003
REG-ORIGINAL            38      $   108,017.00   $   108,017.00   $   108,017.00    1522      $70.97       2002    6/30/2003

Total 2003                      $   324,457.00   $   324,457.00   $   330,258.00    4367      $75.63

REG-ORIGINAL             64     $   104,915.00   $   104,915.00   $   102,215.00    1278      $79.98       2003     2/27/2004
REG-ORIGINAL            150     $   110,165.00   $   112,165.00   $   112,660.00    1522      $74.02       2003     5/17/2004
REG-ORIGINAL             0      $    97,990.00   $    97,990.00   $   110,551.00    1278      $86.50       2004     5/28/2004
REG-ORIGINAL            150     $    96,865.00   $   102,365.00   $   102,340.00    1278      $80.08       2003     5/29/2004
REG-ORIGINAL             16     $   118,045.00   $   118,045.00   $   117,870.00    1514      $77.85       2003     6/18/2004
REG-ORIGINAL            121     $   106,965.00   $   106,965.00   $   122,658.00    1278      $95.98       2003     7/30/2004
REG-ORIGINAL            134     $   103,315.00   $   103,315.00   $   104,740.00    1278      $81.96       2003     8/14/2004
REG-ORIGINAL            430     $    98,865.00   $   101,865.00   $   102,250.00    1278      $80.01       2003    12/31/2004

Total 2004                      $   837,125.00   $   847,625.00   $   875,284.00    10704     $81.77

REG-ORIGINAL             0      $   120,727.00   $   120,727.00   $   120,729.00    1500      $80.49       2004    1/2/2005
REG-ORIGINAL            392     $   107,065.00   $   109,990.00   $   121,534.00    1514      $80.27       2003    1/6/2005
REG-ORIGINAL            163     $   111,640.00   $   111,640.00   $   113,590.00    1514      $75.03       2003    3/31/2005
REG-ORIGINAL            570     $   118,904.00   $   118,034.00   $   108,534.00    1278      $84.93       2003    5/12/2005
REG-ORIGINAL             1      $   118,485.00   $   118,485.00   $   118,485.00    1600      $74.05       2005    6/7/2005
REG-ORIGINAL             95     $   139,430.00   $   139,430.00   $   123,000.00    1522      $80.82       2004    7/18/2005
REG-ORIGINAL            588     $   108,483.00   $   110,480.00   $   107,990.00    1278      $84.50       2003    8/30/2005

Total 2005                      $   824,734.00   $   828,786.00   $   813,862.00    10206     $79.74

REG-ORIGINAL             58     $    93,540.00   $    93,540.00   $    93,640.00    1100      $85.13       2005     1/12/2006
REG-ORIGINAL            235     $   118,790.00   $   118,790.00   $   113,623.00    1278      $88.91       2002     4/12/2006
REG-ORIGINAL             28     $   108,100.00   $    93,100.00   $    97,850.00    1514      $64.63       2006     5/23/2006
REG-ORIGINAL             93     $   111,390.00   $   111,390.00   $   113,980.00    1514      $75.28       2005     5/31/2006
REG-ORIGINAL             1      $   108,295.00   $   105,990.00   $   105,990.00    1522      $69.64       2006     6/9/2006
REG-ORIGINAL             62     $   100,960.00   $    84,490.00   $    95,690.00    1278      $74.88       2006     6/29/2006
REG-ORIGINAL             18     $   100,075.00   $   100,075.00   $   104,393.00    1522      $68.59       2005     6/30/2006
REG-ORIGINAL             22     $    98,940.00   $    98,940.00   $   110,830.00    1514      $73.20       2005     8/30/2006
REG-ORIGINAL             0      $   116,730.00   $   116,730.00   $   110,830.00    1640      $67.58       2006     8/30/2006
HUD                      80     $    86,000.00   $    86,000.00   $    70,000.00    1272      $55.03       2003    11/30/2006
REG-ORIGINAL             17     $    91,815.00   $    91,815.00   $   100,000.00    1278      $78.25       2006    12/22/2006

Total 2006                      $ 1,134,635.00   $ 1,100,860.00   $ 1,116,826.00    15432     $72.37

REG-ORIGINAL            199     $   100,390.00   $   100,390.00   $   104,990.00    1514      $69.35       2006     4/9/2007
HUD                      83     $    90,000.00   $    90,000.00   $    67,100.00    1521      $44.12       2003     4/19/2007
REG-ORIGINAL            115     $   107,290.00   $   107,290.00   $    95,000.00    1278      $74.34       2006     4/30/2007
REG-ORIGINAL            115     $   107,700.00   $   107,700.00   $   102,576.00    1278      $80.26       2006     5/4/2007
AGENT OWNED              6      $    94,900.00   $    94,900.00   $    94,900.00    1521      $62.39       2003     5/31/2007
REG-ORIGINAL            137     $   106,491.00   $   106,491.00   $    92,990.00    1100      $84.54       2006     6/1/2007
HUD                     137     $    96,000.00   $    96,000.00   $    70,400.00    1583      $44.47       2003     6/11/2007
REG-ORIGINAL             78     $   116,821.00   $   116,821.00   $   100,000.00    1100      $90.91       2006     8/15/2007
HUD                     151     $    90,000.00   $    90,000.00   $    67,000.00    1567      $42.76       2003    10/10/2007
BANK                     70     $    69,900.00   $    69,900.00   $    58,200.00    1567      $37.14       2003    11/29/2007
HUD                      68     $    95,000.00   $    88,000.00   $    72,000.00    1529      $47.09       2003    12/12/2007

Total 2007                      $ 1,074,492.00   $ 1,067,492.00   $   925,156.00    15558     $59.46

AGENT OWNED             118     $    94,900.00   $    94,900.00   $    95,400.00    1567      $60.88       2003    3/14/2008
HUD                     293     $    70,000.00   $    61,000.00   $    36,600.00    1423      $25.72       2004    3/21/2008
REG                      71     $   105,500.00   $   105,500.00   $    99,900.00    1514      $65.98       2006    4/15/2008
BANK                    456     $    84,900.00   $    65,000.00   $    69,900.00    1485      $47.07       2003    4/30/2008
REG                      78     $    89,900.00   $    89,900.00   $    89,900.00    1567      $57.37       2003    5/2/2008

Total as of 5/2/2008            $   445,200.00   $   416,300.00   $   391,700.00    7556      $51.84




Foreclosure Study For Pike Township 2007 by Tim Lord     www.TimLordRealtor.com     www.LivingInPike.com
                                                                                                                                  Page 47

Case Study #7 - Westhaven Commons (Page 1 of 1)
Type of               Days     Original List       List Price At        Sale        Square     $ Per         Year      Close
Sale                   On         Price              Closing            Price       Footage Square Foot      Built     Date
                     Market

REG-ORIGNAL            0      $   114,000.00   $     114,000.00    $ 114,000.00      1261      $90.40        2002    9/27/2002
REG-ORIGNAL           125     $    96,900.00   $      96,900.00    $ 100,000.00      1200      $83.33        2002    12/6/2002

Total 2002                    $   210,900.00   $     210,900.00    $ 214,000.00      2461      $86.96

REG-ORIGNAL            0      $    99,900.00   $      99,900.00    $ 99,900.00       1200      $0.00         2003     2/14/2003
REG-ORIGNAL            65     $    99,900.00   $      99,900.00    $ 108,000.00      1200      $90.00        2002     6/4/2003
REG-ORIGNAL            65     $    99,900.00   $      99,900.00    $ 108,000.00      1200      $90.00        2002    10/13/2003
REG-ORIGNAL            76     $   104,500.00   $     104,500.00    $ 109,000.00      1200      $90.83        2003     12/5/2003

Total 2003                    $   404,200.00   $     404,200.00    $ 424,900.00      4800      $88.52

REG-ORIGNAL            1      $   139,900.00   $     139,900.00    $   139,900.00    1381      $101.30       2004    2/6/2004
REG-ORIGNAL           136     $   104,500.00   $     104,500.00    $   111,000.00    1200       $92.50       2003    2/11/2004
REG-ORIGNAL            2      $   119,500.00   $     119,500.00    $   119,500.00    1452       $82.30       2004    5/30/2004
REG-ORIGNAL            1      $   114,000.00   $     114,000.00    $   114,000.00    1200       $95.00       2004    6/8/2004
HUD                   115     $    97,000.00   $      87,300.00    $    76,500.00    1175       $65.11       2001    7/13/2004
REG-ORIGNAL           131     $   112,000.00   $     112,000.00    $   111,000.00    1200       $92.50       2004    7/26/2004

Total 2004                    $   686,900.00   $     677,200.00    $ 671,900.00      7608      $88.31

REG-ORIGNAL            9      $   120,900.00   $     120,900.00    $ 120,900.00      2904      $41.63        2004     5/27/2005
REG-ORIGNAL            4      $   128,900.00   $     128,900.00    $ 125,900.00      1358      $92.71        2005     8/22/2005
BANK                   21     $    79,900.00   $      79,900.00    $ 77,000.00       1175      $65.53        2001     9/30/2005
BANK                   83     $    98,900.00   $      93,500.00    $ 91,000.00       1175      $77.45        2003    11/30/2005
BANK                   63     $    90,000.00   $      81,250.00    $ 75,000.00       1175      $63.83        2001    12/23/2005
HUD                   132     $   105,000.00   $      94,900.00    $ 87,000.00       1175      $74.04        2001    12/30/2005

Total 2005                    $   623,600.00   $     599,350.00    $ 576,800.00      8962      $64.36

HUD                    62     $    95,000.00   $       90,250.00   $    80,000.00    1256      $63.69        2001    4/28/2006
REGULAR               133     $    98,900.00   $       86,500.00   $    84,500.00    1175      $71.92        2003    6/27/2006
BANK                  138     $    98,600.00   $       89,100.00   $    82,000.00    1256      $65.29        1995    6/30/2006
BANK                  142     $    92,900.00   $       67,900.00   $    66,500.00    1200      $55.42        2004    8/28/2006
BANK                   38     $    90,550.00   $       85,600.00   $    85,600.00    1256      $68.15        2000    10/5/2006

Total 2006                    $   475,950.00   $     419,350.00    $ 398,600.00      6143      $64.89

HUD                    10     $    80,000.00   $       80,000.00   $    77,000.00    1345      $57.25        2001     1/24/2007
HUD                    60     $    80,000.00   $       80,000.00   $    62,000.00    1296      $47.84        2004     2/14/2007
BANK                   89     $    78,500.00   $       78,500.00   $    68,000.00    1326      $51.28        2003     2/21/2007
BANK                   43     $    73,500.00   $       73,500.00   $    71,500.00    1200      $59.58        2003     3/15/2007
REGULAR                38     $    91,000.00   $       91,000.00   $    91,000.00    1320      $68.94        2002     3/15/2007
BANK                  168     $    60,000.00   $       60,000.00   $    45,000.00    1175      $38.30        2004     3/16/2007
BANK                  244     $    68,900.00   $       68,900.00   $    62,000.00    1320      $46.97        2002     5/7/2007
AGENT OWNED            56     $    77,500.00   $       77,500.00   $    75,500.00    1175      $64.26        2003     6/29/2007
SHORT SALE            176     $    82,500.00   $       82,500.00   $    81,000.00    1320      $61.36        2001     6/29/2007
HUD                    14     $    86,000.00   $       86,000.00   $    82,000.00    1334      $61.47        2003     7/3/2007
BANK                  108     $    59,000.00   $       59,000.00   $    58,500.00    1200      $48.75        2004     8/23/2007
BANK                  174     $    56,900.00   $       56,900.00   $    56,000.00    1200      $46.67        2001    11/14/2007
SHORT SALE            139     $    71,500.00   $       71,500.00   $    70,000.00    1200      $58.33        2004    11/14/2007

Total 2007                    $   965,300.00   $     965,300.00    $ 899,500.00      16411     $54.81

HUD                   110     $    71,000.00   $       65,000.00   $    53,751.00    1200      $44.79        2003    2/13/2008
BANK                   22     $    69,900.00   $       69,900.00   $    72,900.00    1326      $54.98        2005    2/29/2008
HUD                    18     $    64,000.00   $       64,000.00   $    63,000.00    1287      $48.95        2001    4/11/2008
HUD                   124     $    85,000.00   $       77,000.00   $    67,000.00    1275      $52.55        2001    5/22/2008
HUD                    34     $    65,000.00   $       65,000.00   $    54,300.00    1139      $47.67        2001    6/6/2008
HUD                   234     $    60,000.00   $       60,000.00   $    55,000.00    1195      $46.03        2001    6/12/2008

Total 2008                    $   414,900.00   $     400,900.00    $ 365,951.00      7422      $49.31




Foreclosure Study For Pike Township 2007 by Tim Lord     www.TimLordRealtor.com       www.LivingInPike.com

				
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