Market Dynamics

Prepared For

EBRP 5/2011 vs 5/2012, Louisiana ALL AREAS

William Cobb Accurate Valuations Group

Clarus MarketMetrics
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06/19/2012

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William Cobb

Accurate Valuations Group

Median Sold Price by Month

May-11 vs. May-12: The median sold price is down 2%

May-11 vs. May-12

May-11 209,375
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 205,000
All Construction Type:

Change -4,375
New Bedrooms: All

% -2%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

Median Sold Price by Month

May-11 vs. May-12: The median sold price is down 2%

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

Median Price 205,000 205,000 237,000 217,300 224,876 232,700 233,500 207,950 227,942 210,615 207,494 200,950 209,375

# Units 49 37 30 29 28 34 42 40 44 50 39 46 42

Average DOM 111 160 126 137 116 113 119 107 123 92 112 133 141

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

May-11 vs. May-12: The median price of for sale properties is down 5% and the median price of sold properties is down 2%

May-11 vs. May-12

May-11 229,900
MLS: GBRAR Property Types: MLS Area:

May-11 vs. May-12

% -5%
All Construction Type: New Bedrooms:

May-12 217,900
Period: 1 year (monthly)

Change -12,000
Price:

May-11 209,375
All

May-12 205,000
Bathrooms: All

Change -4,375
Lot Size: All Sq Ft: All

% -2%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

Median For Sale vs. Median Sold

May-11 vs. May-12: The median price of for sale properties is down 5% and the median price of sold properties is down 2%
For Sale Median 217,900 224,818 225,900 225,900 229,664 230,000 230,000 230,000 233,600 230,000 229,900 229,900 229,900 # Properties For Sale 399 404 417 419 407 394 397 406 405 404 415 432 423 Sold Median 205,000 205,000 237,000 217,300 224,876 232,700 233,500 207,950 227,942 210,615 207,494 200,950 209,375 # Properties Sold 49 37 30 29 28 34 42 40 44 50 39 46 42 Price Difference -12,900 -19,817 11,100 -8,600 -4,788 2,700 3,500 -22,050 -5,659 -19,385 -22,406 -28,950 -20,525

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

Sold Properties by Month

May-11 vs. May-12: The number of Sold properties is up 17%

May-11 vs. May-12

May-11 42
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 49
All Construction Type:

Change 7
New Bedrooms: All

% +17%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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06/19/2012

6 of 21

William Cobb

Accurate Valuations Group

Sold Properties by Month

May-11 vs. May-12: The number of Sold properties is up 17%

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

# Properties 49 37 30 29 28 34 42 40 44 50 39 46 42

Median Price 205,000 205,000 237,000 217,300 224,876 232,700 233,500 207,950 227,942 210,615 207,494 200,950 209,375

Average DOM 111 160 126 137 116 113 119 107 123 92 112 133 141

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

Under Contract Properties by Month

May-11 vs. May-12: The number of Under Contract properties is up 63%

May-11 vs. May-12

May-11 43
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 70
All Construction Type:

Change 27
New Bedrooms: All

% +63%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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06/19/2012

8 of 21

William Cobb

Accurate Valuations Group

Under Contract Properties by Month

May-11 vs. May-12: The number of Under Contract properties is up 63%

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

# Properties 70 73 56 46 37 31 29 38 46 44 35 45 43

Median Price 203,000 230,000 215,500 218,600 214,800 228,550 226,900 227,450 244,450 230,025 208,900 211,900 209,900

Average DOM 101 101 143 120 109 141 144 124 124 118 115 104 118

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

New Properties by Month

May-11 vs. May-12: The number of New properties is up 12%

May-11 vs. May-12

May-11 68
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 76
All Construction Type:

Change 8
New Bedrooms: All

% +12%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

New Properties by Month

May-11 vs. May-12: The number of New properties is up 12%

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

# Properties 76 57 58 68 78 33 54 65 66 40 49 64 68

Median Price 203,900 219,600 218,000 206,950 202,100 244,900 230,000 223,017 255,950 215,653 207,494 222,812 235,950

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

For Sale Properties by Month

May-11 vs. May-12: The number of For Sale properties is down 6%

May-11 vs. May-12

May-11 423
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 399
All Construction Type:

Change -24
New Bedrooms: All

% -6%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

1 of 2
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06/19/2012

12 of 21

William Cobb

Accurate Valuations Group

For Sale Properties by Month

May-11 vs. May-12: The number of For Sale properties is down 6%

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

# Properties 399 404 417 419 407 394 397 406 405 404 415 432 423

Median Price 217,900 224,818 225,900 225,900 229,664 230,000 230,000 230,000 233,600 230,000 229,900 229,900 229,900

Average DOM 243 236 232 225 226 273 257 249 249 252 234 218 214

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

Expired Properties by Month

May-11 vs. May-12: The number of Expired properties is down 58%

May-11 vs. May-12

May-11 12
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 5
All Construction Type:

Change -7
New Bedrooms: All

% -58%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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14 of 21

William Cobb

Accurate Valuations Group

Expired Properties by Month

May-11 vs. May-12: The number of Expired properties is down 58%

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

# Properties 5 9 14 14 19 34 7 25 18 21 16 21 12

Median Price 359,900 147,900 302,400 188,200 205,900 331,360 299,900 229,000 218,400 220,610 190,000 278,000 292,518

Average DOM 117 115 258 223 214 640 212 199 269 277 168 175 216

Clarus MarketMetrics

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06/19/2012

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William Cobb

Accurate Valuations Group

Supply & Demand by Month

May-11 vs. May-12: The number of for sale properties is down 6% and the number of sold properties is up 17%

May-11 vs. May-12

May-11 423
MLS: GBRAR Property Types: MLS Area:

May-11 vs. May-12

% -6%
All Construction Type: New Bedrooms:

May-12 399
Period: 1 year (monthly)

Change -24
Price:

May-11 42
All

May-12 49
Bathrooms: All

Change 7
Lot Size: All Sq Ft: All

% +17%

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

1 of 2
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06/19/2012

16 of 21

William Cobb

Accurate Valuations Group

Supply & Demand by Month

May-11 vs. May-12: The number of for sale properties is down 6% and the number of sold properties is up 17%
# Properties For Sale 399 404 417 419 407 394 397 406 405 404 415 432 423 Average DOM For Sale 243 236 232 225 226 273 257 249 249 252 234 218 214 # Properties Sold 49 37 30 29 28 34 42 40 44 50 39 46 42 Average DOM Sold 111 160 126 137 116 113 119 107 123 92 112 133 141

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

The Average Days on Market by Month

May-11 vs. May-12: The average days on market is down 14%

May-11 vs. May-12

May-11 118
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 101
All Construction Type:

Change -17
New Bedrooms: All

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

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

1 of 2
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06/19/2012

18 of 21

William Cobb

Accurate Valuations Group

The Average Days on Market by Month

May-11 vs. May-12: The average days on market is down 14%

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

Average DOM 101 101 143 120 109 141 144 124 124 118 115 104 118

# UC Units 70 73 56 46 37 31 29 38 46 44 35 45 43

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

May-11 vs. May-12: The average months supply of inventory is down 46%

May-11 vs. May-12

May-11 8.6
MLS: GBRAR Property Types: MLS Area: Period: 1 year (monthly) Price:

May-12 4.6
All Construction Type:

Change -3.9
New Bedrooms: All

% -46%
Bathrooms: All Lot Size: All Sq Ft: All

Residential: (Detached Single Family, Residential Attached, Preconstruction DSF, Preconstruction ASF)

EBR MLS AREA 11, EBR MLS AREA 12, EBR MLS AREA 13, EBR MLS AREA 21, EBR MLS AREA 22, EBR MLS AREA 31, EBR MLS AREA 41, EBR MLS AREA 42, EBR MLS AREA 43, EBR MLS AREA

Clarus MarketMetrics

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William Cobb

Accurate Valuations Group

Months Supply of Inventory

May-11 vs. May-12: The average months supply of inventory is down 46%
# Units For Sale Last Day of Month 324 323 347 359 351 329 361 343 341 339 364 366 368 # UC Units During Month 70 73 56 46 37 31 29 38 46 44 35 45 43 UC Average DOM 101 101 143 120 109 141 144 124 124 118 115 104 118

Time Period May-12 Apr-12 Mar-12 Feb-12 Jan-12 Dec-11 Nov-11 Oct-11 Sep-11 Aug-11 Jul-11 Jun-11 May-11

MSI 4.6 4.4 6.2 7.8 9.5 10.6 12.4 9.0 7.4 7.7 10.4 8.1 8.6

Clarus MarketMetrics

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