Market Watch 2010

Gary A. Mills/Realtor®

Broker Associate

DIRECT: (239) 826-0140

OFFICE: (239) 489-1100 ext.143

FACSIMILE: (239) 437-7553

gmills@viprealty.com

www.garyamills.com

13131 UNIVERSITY DRIVE, FORT MYERS, FLORIDA 33907

13131 UNIVERSITY DRIVE, FORT MYERS, FLORIDA 33907

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 1

2008 2009

Single Family Homes Sold (Demand) 10501 18280

Available SF Homes (Supply) 15088 11086

Median Sales Price $142,500 $84,600

Average Market Time (Days) 97 82

Multi-Family Homes Sold (Demand) 3250 5185

Available Resale MF Homes (Supply) 7988 6519

Median Sales Price $177,000 $110,000

Average Market Time (Days) 147 119

Total Residential Units Sold 13751 23465

-

1,000

2,000

3,000

4,000

5,000

6,000

7,000

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Up

59.5%

Multi Family

74%

-27%

-41%

-15%

60%

-18%

-38%

-19%

71%

Lee County

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

02000400060008000

100001200014000160001800020000

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Up

74.1%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

27%

1st Qtr

24%

3rd Qtr

25%2nd Qtr

24%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

8%

34%

58%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

23%4th Qtr

28%

2nd Qtr

26%

3rd Qtr

23%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Media

n P

rice

Month

s

Multi Family

Down

- 37.9%

Down

- 41.6%

Percent Change

Lee County Single and Multi-Family

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 2

Each pie chart represents how many homes sold over, under or equal to the asking price in each category.

Distressed homes are homes that were sold as short sales plus foreclosures.

Lee County Single Family Home Sales

62%

23%

9%

4%1%

1%

CASH

CONV

FHAA

OTHR

OWNR

VAVA

Funding Analysis of Single Family Home Sales

Distressed Sales

31%

13%

56%

Traditional Sales

18%

67%

15%

All Sales

28%

58%

14%

EQUALUNDER OVER

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 3

0

2000

4000

6000

8000

10000

12000

14000

16000Jan

-04

Ma

r-0

4

May-0

4

Ju

l-0

4

Sep

-04

No

v-0

4

Jan

-05

Ma

r-0

5

May-0

5

Ju

l-0

5

Sep

-05

No

v-0

5

Jan

-06

Ma

r-0

6

May-0

6

Ju

l-0

6

Sep

-06

No

v-0

6

Jan

-07

Ma

r-0

7

May-0

7

Ju

l-0

7

Sep

-07

No

v-0

7

Jan

-08

Ma

r-0

8

May-0

8

Ju

l-0

8

Sep

-08

No

v-0

8

Jan

-09

Ma

r-0

9

May-0

9

Ju

l-0

9

Sep

-09

No

v-0

9

Jan

-10

Lee County Inventory vs Sales

Existing Single Family Homes

© Copyright 2010 Denny Grimes & Company All Rights Reserved - Prepared by Michael Polly

Monthly Sales

Available Single Family Homes

Pen

din

g H

om

e S

ale

s

Existing Single Family Home SalesPending / Closed Homes

65707009

8115

90049754

11521

12703

8951

5920

10501

18280

0

2000

4000

6000

8000

10000

12000

14000

16000

18000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Nu

mb

er

of

Pen

din

g S

ale

s p

er

Ye

ar

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 4

.

Lee CountyExisting Single Family Home Sales Trend

0

500

1000

1500

2000

Ja

n-0

4F

eb

-04

Ma

r-04

Ap

r-0

4M

ay

-04

Ju

n-0

4Ju

l-04

Au

g-0

4S

ep

-04

Oct-

04

No

v-0

4D

ec-0

4Ja

n-0

5F

eb

-05

Ma

r-05

Ap

r-0

5M

ay

-05

Ju

n-0

5Ju

l-05

Au

g-0

5S

ep

-05

Oct-

05

No

v-0

5D

ec-0

5Ja

n-0

6F

eb

-06

Ma

r-06

Ap

r-0

6M

ay

-06

Ju

n-0

6Ju

l-06

Au

g-0

6S

ep

-06

Oct-

06

No

v-0

6D

ec-0

6Ja

n-0

7F

eb

-07

Ma

r-07

Ap

r-0

7M

ay

-07

Ju

n-0

7Ju

l-07

Au

g-0

7S

ep

-07

Oct-

07

No

v-0

7D

ec-0

7Ja

n-0

8F

eb

-08

Ma

r-08

Ap

r-0

8M

ay

-08

Ju

n-0

8Ju

l-08

Au

g-0

8S

ep

-08

Oct-

08

No

v-0

8D

ec-0

8Ja

n-0

9F

eb

-09

Ma

r-09

Ap

r-0

9M

ay

-09

Ju

n-0

9Ju

l-09

Au

g-0

9

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

Pen

din

g S

ing

le F

am

ily H

om

e S

ale

s

Homes Sold

Median Price

Me

dia

n S

ale

s P

rice

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 5

2009 Single Family Sales Price Distribution

58%

15%

8%

5%

4%

2%4%

3% 1%

<100K

100K-150K

150K-200K

200K-250K

250K-300K

300K-350K

350K-500K

500K-1M

1M +

% Change in Sales by Price Range

-80%

-60%

-40%

-20%

0%

20%

40%

60%

80%

100%

<100K 100K-

150K

150K-

200K

200K-

250K

250K-

300K

300K-

350K

350K-

500K

500K-1M 1M +

Single Family Homes

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 6

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000A

ug

-07

Se

p-0

7

Oct-

07

No

v-0

7

De

c-0

7

Ja

n-0

8

Fe

b-0

8

Ma

r-08

Ap

r-08

Ma

y-0

8

Ju

n-0

8

Jul-

08

Au

g-0

8

Se

p-0

8

Oct-

08

No

v-0

8

De

c-0

8

Ja

n-0

9

Fe

b-0

9

Ma

r-09

Ap

r-09

Ma

y-0

9

Ju

n-0

9

Jul-

09

Au

g-0

9

Se

p-0

9

Oct-

09

No

v-0

9

De

c-0

9

Ja

n-1

0

Fe

b-1

0

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Preforeclosure Auction Bank Owned Resale SF Inventory

Lee County Distressed Property MarketForeclosure Properties Resale Inventory

Foreclosure Filings

0

500

1,000

1,500

2,000

2,500

3,000

Jan

-05

Mar-

05

Ma

y-0

5

Ju

l-0

5

Sep

-05

Nov-0

5

Jan

-06

Mar-

06

Ma

y-0

6

Ju

l-0

6

Sep

-06

Nov-0

6

Jan

-07

Mar-

07

Ma

y-0

7

Ju

l-0

7

Sep

-07

Nov-0

7

Jan

-08

Mar-

08

Ma

y-0

8

Ju

l-0

8

Sep

-08

Nov-0

8

Jan

-09

Mar-

09

Ma

y-0

9

Ju

l-0

9

Sep

-09

Nov-0

9

Jan

-10

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 7

Single Family Homes

2009

Third Quarter

21%

Fourth Quarter

23%First Quarter

28%

Second Quarter

28%

Lee County Sub-Market Health Report

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

PI FMB SFM BE NFM SFM-I75 LEE SCC EFM NCC CCC LEHIGH CFM

Foreclosure Short Sale Traditional Sale

Single Family Homes

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 8

Each pie chart represents how many homes sold over, under or equal to the asking price in each category. Distressed homes are

homes that were sold as short sales plus foreclosures

79%

19%

1%1%

0%0%

CASH

CONV

FHAA

OTHR

OWNR

VAVA

Funding Analysis of Multi-Family Homes ti-Family Home Sales

Lee County Multi-Family Home Sales

Distressed Sales

32%

16%

52%

Traditional Sales

2%

92%

6%All Sales

19%

61%

20%

EQUALUNDER OVER

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 9

0

1000

2000

3000

4000

5000

6000

7000

8000

9000

10000Ja

n-0

4

Ma

r-0

4

Ma

y-0

4

Ju

l-0

4

Se

p-0

4

Nov-0

4

Ja

n-0

5

Ma

r-0

5

Ma

y-0

5

Ju

l-0

5

Se

p-0

5

Nov-0

5

Ja

n-0

6

Ma

r-0

6

Ma

y-0

6

Ju

l-0

6

Se

p-0

6

Nov-0

6

Ja

n-0

7

Ma

r-0

7

Ma

y-0

7

Ju

l-0

7

Se

p-0

7

Nov-0

7

Ja

n-0

8

Ma

r-0

8

Ma

y-0

8

Ju

l-0

8

Se

p-0

8

Nov-0

8

Ja

n-0

9

Ma

r-0

9

Ma

y-0

9

Ju

l-0

9

Se

p-0

9

Nov-0

9

Ja

n-1

0

Lee County Inventory vs Sales

Existing Multi-Family Homes (Condo/Townhome/Villa)

Monthly Sales

Available Multi-Family Homes

2658

3078

3445

4021 4071

6161 6151

2863

2464

3250

4275

0

1000

2000

3000

4000

5000

6000

7000

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Nu

mb

er

of

Sale

s p

er

Ye

ar

Existing Condo / Villa Sales / TownhomeJanuary 2009 - December 2009

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 10

0

100

200

300

400

500

600

700

800

Ja

n-0

4

Ap

r-0

4

Jul-

04

Oct-

04

Ja

n-0

5

Ap

r-0

5

Jul-

05

Oct-

05

Ja

n-0

6

Ap

r-0

6

Jul-

06

Oct-

06

Ja

n-0

7

Ap

r-0

7

Jul-

07

Oct-

07

Ja

n-0

8

Ap

r-0

8

Jul-

08

Oct-

08

Ja

n-0

9

Ap

r-0

9

Jul-

09

Oct-

09

Ja

n-1

0

0

50

100

150

200

250

300

350

400

Th

ou

sa

nd

s

Sales Median Sales Price

Lee County Home SalesExisting Multi-Family Home Sales

Pen

din

g M

ult

i-F

am

ily H

om

e S

ale

s

Med

ian

Sale

s P

ric

e

Median

Price

Homes Sold

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 11

Multi-Family (Condo / Villa)

2009

Third Quarter

22%

Fourth Quarter

21%First Quarter

26%

Second Quarter

25%

Lee County Sub-Market Health Report

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

SI FMB PI SFM BE SCC NFM 75SFM EFM CCC NCC CFM LEHIGH

REO Traditional SS

Multi-Family Homes

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 12

Sub-Market Analysis ti-Family Home Sales

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 13

Resale Sub-Market Summary 2009 2009

Single Family Homes Sold (Demand) 453 710

Available SF Homes (Supply) 747 561

Median Sales Price $120,450 $65,000

Average Market Time (Days) 125 111

Multi-Family Homes Sold (Demand) 62 136

Available Resale MF Homes (Supply) 209 174

Median Sales Price $130,000 $74,500

Average Market Time (Days) 113 123

Total Residential Units Sold 515 846

-204060

80100120140

160180200

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Multi Family

Up

119.4%

57%

-25%

-46%

-11%

119%

-17%

-43%

9%

64%

ZIP CODES: 33903, 33917

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

100

200

300

400

500

600

700

800

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

56.7%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

26%1st Qtr

25%

3rd Qtr

22%2nd Qtr

27%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

6%

25%

69%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

26%4th Qtr

26%

3rd Qtr

16%

2nd Qtr

32%

Units Sold 2008 by Quarter

100

Listed for sale as of January 15, 2010

Me

dia

n P

rice

Mon

ths

Multi Family

Down

- 42.7%

Down

- 46.0%

Percent Change

North Fort Myers

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 14

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 172 404

Available SF Homes (Supply) 393 233

Median Sales Price $120,000 $30,000

Average Market Time (Days) 99 84

Multi-Family Homes Sold (Demand) 84 433

Available Resale MF Homes (Supply) 483 333

Median Sales Price $77,500 $42,000

Average Market Time (Days) 105 79

Total Residential Units Sold 256 837

-

100

200

300

400

500

600

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Up

415.5%

Multi Family

135%

-41%

-75%

-15%

415%

-31%

-46%

-25%

227%

ZIP CODES: 33901, 33916

$0

$50,000

$100,000

$150,000

$200,000

$250,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

50

100

150

200

250

300

350

400

450

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

134.9%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

26%1st Qtr

24%

3rd Qtr

21%2nd Qtr

29%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

8%

50%

42%Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

17%

2nd Qtr

27%

4th Qtr

34%

3rd Qtr

22%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Med

ian

Pri

ce

Mo

nth

s

Multi Family

Down

- 45.8%

Down

- 75.0%

Percent Change

Central Fort Myers

188 188

.

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 15

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 332 730

Available SF Homes (Supply) 853 581

Median Sales Price $120,050 $49,000

Average Market Time (Days) 104 86

Multi-Family Homes Sold (Demand) 46 79

Available Resale MF Homes (Supply) 212 102

Median Sales Price $129,000 $99,450

Average Market Time (Days) 95 120

Total Residential Units Sold 378 809

-

10

20

30

40

50

60

70

80

90

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Up

71.7%

Multi Family

120%

-32%

-59%

-17%

72%

-52%

-23%

26%

114%

ZIP CODES: 33905, 33920

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

100

200

300

400

500

600

700

800

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

119.9%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

25%1st Qtr

25%

3rd Qtr

24%2nd Qtr

26%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

88

Months of Resale Inventory

10%

37%53%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

18%

2nd Qtr

28%

4th Qtr

29%

3rd Qtr

25%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Med

ian P

rice

Mo

nth

s

Multi Family

Down

- 59.2%

Percent Change

East Fort Myers

Down

- 22.9%

218

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 16

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 656 978

Available SF Homes (Supply) 1169 883

Median Sales Price $249,900 $200,000

Average Market Time (Days) 113 110

Multi-Family Homes Sold (Demand) 892 1576

Available Resale MF Homes (Supply) 1807 1529

Median Sales Price $153,000 $102,000

Average Market Time (Days) 136 113

Total Residential Units Sold 1548 2554

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

76.7%

Multi Family

49%

-24%

-20%

-3%

77%

-15%

-33%

-17%

65%

ZIP CODES: 33907, 33908, 33919

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

200

400

600

800

1000

1200

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

49.1%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

26%

1st Qtr

23%

3rd Qtr

23%

2nd Qtr

28%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

6%

26%

68%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

25%4th Qtr

27%

2nd Qtr

25%3rd Qtr

23%

Units Sold 2009 by Quarter

288

Listed for sale as of January 15, 2010

Med

ian P

rice

Month

s

Multi Family

Down

- 20.0%

Down

-33.3%

Percent Change

South Fort Myers Summerlin/Iona

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 17

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 867 1485

Available SF Homes (Supply) 1427 1035

Median Sales Price $232,948 $143,895

Average Market Time (Days) 114 91

Multi-Family Homes Sold (Demand) 466 873

Available Resale MF Homes (Supply) 1150 895

Median Sales Price $170,000 $125,000

Average Market Time (Days) 117 103

Total Residential Units Sold 1333 2358

-100200300

400500600700800900

1,000

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Up

87.3%

Multi Family

71%

-27%

-38%

-20%

87%

-22%

-26%

-12%

77%

ZIP CODES: 33912, 33913, 33966, 33967

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

200

400

600

800

1000

1200

1400

1600

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

71.3%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

25%

1st Qtr

22%

3rd Qtr

28%

2nd Qtr

25%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

5%

35%

60%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

24%4th Qtr

27%

2nd Qtr

24%3rd Qtr

25%

Units Sold 2010 by Quarter

Listed for sale as of January 15, 2010

Media

n P

rice

Mon

ths

Multi Family

Down

- 38.2%

Down

- 26.5%

Percent Change

South Fort Myers I-75

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 18

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 1834 4827

Available SF Homes (Supply) 2920 1935

Median Sales Price $93,000 $55,000

Average Market Time (Days) 78 61

Multi-Family Homes Sold (Demand) 87 173

Available Resale MF Homes (Supply) 403 144

Median Sales Price $82,456 $45,050

Average Market Time (Days) 135 81

Total Residential Units Sold 1921 5000

-

50

100

150

200

250

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Up

98.9%

Multi Family

163%

-34%

-41%

-22%

99%

-64%

-45%

-40%

160%

ZIP CODES: 33936, 33971, 33972

$0

$50,000

$100,000

$150,000

$200,000

$250,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

1000

2000

3000

4000

5000

6000

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

163.2%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

23% 1st Qtr

23%

3rd Qtr

26%

2nd Qtr

28%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

21%

54%

25%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

24%4th Qtr

27%

2nd Qtr

16%3rd Qtr

23%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Med

ian P

rice

Mo

nth

s

Multi Family

Down

-49.9%

Down

-45.4%

Percent Change

Lehigh Acres

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 19

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 2104 3213

Available SF Homes (Supply) 1902 1340

Median Sales Price $119,900 $84,000

Average Market Time (Days) 170 75

Multi-Family Homes Sold (Demand) 83 83

Available Resale MF Homes (Supply) 125 46

Median Sales Price $98,990 $72,915

Average Market Time (Days) 183 135

Total Residential Units Sold 2187 3296

-

10

20

30

40

50

60

70

80

90

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Multi Family

53%

-30%

-30%

-56%

0%

-63%

-26%

-26%

51%

ZIP CODES: 33909, 33993

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

2000 2001 2002 2003 2004 2005 2006 2007 2008

Single Family Multi-Family

0

500

1000

1500

2000

2500

3000

3500

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

52.7%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

20% 1st Qtr

28%

3rd Qtr

24% 2nd Qtr

28%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

141

Months of Resale Inventory

14%

53%

33%Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

12%

2nd Qtr

20%

4th Qtr

30%

3rd Qtr

38%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Med

ian

Pri

ce

Mo

nth

s

Multi Family

Down

-29.9%

Down

-26.3%

Percent Change

North Cape Coral

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 20

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 1212 1739

Available SF Homes (Supply) 994 1035

Median Sales Price $135,000 $99,900

Average Market Time (Days) 78 68

Multi-Family Homes Sold (Demand) 46 132

Available Resale MF Homes (Supply) 154 101

Median Sales Price $125,000 $60,050

Average Market Time (Days) 105 90

Total Residential Units Sold 1258 1871

-

20

40

60

80

100

120

140

160

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

187%

Multi Family

ZIP CODES: 33990, 33991

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

200400

600800

100012001400

160018002000

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

43.5%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

24%1st Qtr

24%

3rd Qtr

24% 2nd Qtr

28%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

11%

53%

36%Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

26%

2nd Qtr

22%

4th Qtr

19%

3rd Qtr

33%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Me

dia

n P

rice

Mon

ths

Multi Family

Down

- 26.0%

Down

-47.8%

Percent Change

Central Cape Coral

43%

4%

-26%

-13%

187%

-34%

-52%

-14%

49%

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 21

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 1813 2572

Available SF Homes (Supply) 1776 1300

Median Sales Price $179,000 $134,450

Average Market Time (Days) 91 82

Multi-Family Homes Sold (Demand) 285 373

Available Resale MF Homes (Supply) 602 365

Median Sales Price $140,000 $97,000

Average Market Time (Days) 131 124

Total Residential Units Sold 2098 2945

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

-

100

200

300

400

500

600

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

30.9%

Multi Family

42%

-27%

-25%

-10%

31%

-39%

-31%

-5%

40%

ZIP CODES: 33904, 33914

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

500

1000

1500

2000

2500

3000

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

41.9%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

24%

2nd Qtr

28%

3rd Qtr

23%

1st Qtr

25%

Months of Resale Inventory

8%

38%54%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

23%4th Qtr

27%

2nd Qtr

30%3rd Qtr

20%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Media

n P

rice

Multi Family

Down

-24.9%

Down

-30.7%

Percent Change

South Cape Coral

Mon

ths

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 22

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 145 181

Available SF Homes (Supply) 290 219

Median Sales Price $185,000 $160,000

Average Market Time (Days) 146 118

Multi-Family Homes Sold (Demand) 11 11

Available Resale MF Homes (Supply) 33 31

Median Sales Price $266,000 $180,500

Average Market Time (Days) 210 67

Total Residential Units Sold 156 192

-

5

10

15

20

25

30

35

200

0

200

1

200

2

200

3

200

4

200

5

200

6

200

7

200

8

200

9

Multi Family

No

Change

25%

-24%

-14%

-19%

0%

-6%

-32%

-68%

23%

ZIP CODES: 33945, 33956, 33922

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

50

100

150

200

250

300

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

24.8%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

26%

1st Qtr

24%

3rd Qtr

17%

2nd Qtr

33%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

4%10%

86%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

18%

2nd Qtr

27%

4th Qtr

46%

3rd Qtr

9%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Med

ian

Pri

ce

Mo

nth

s

Multi Family

Down

- 32.1%

Down

- 13.5%

Percent Change

Pine Island

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 23

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 679 1139

Available SF Homes (Supply) 1975 1609

Median Sales Price $350,000 $218,000

Average Market Time (Days) 162 127

Multi-Family Homes Sold (Demand) 939 1035

Available Resale MF Homes (Supply) 1893 1951

Median Sales Price $245,000 $158,500

Average Market Time (Days) 192 150

Total Residential Units Sold 1618 2174

-200400

600800

1,000

1,2001,4001,600

1,8002,000

20

00

20

01

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

Up

10.2%

Multi Family

68%

-19%

-38%

-22%

10%

3%

-35%

-22%

34%

ZIP CODES: 33928, 34134, 34135

$0

$50,000

$100,000

$150,000

$200,000

$250,000

$300,000

$350,000

$400,000

$450,000

$500,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

200

400

600

800

1000

1200

1400

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

67.7%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

26%

1st Qtr

25%

3rd Qtr

25%2nd Qtr

24%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

133

Months of Resale Inventory

18%

23%59%

Foreclosure

Short Sale

Traditional

Available Multi and Single Family

Single Family

1st Qtr

24%4th Qtr

26%

2nd Qtr

27%

3rd Qtr

23%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Med

ian

Pri

ce

Mo

nth

s

Multi Family

Down

- 37.7%

Down

- 35.3%

Percent Change

Bonita Springs / Estero

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 24

Resale Sub-Market Summary 2008 2009

Single Family Homes Sold (Demand) 127 152

Available SF Homes (Supply) 297 268

Median Sales Price $350,000 $255,000

Average Market Time (Days) 136 142

Multi-Family Homes Sold (Demand) 173 211

Available Resale MF Homes (Supply) 557 511

Median Sales Price $400,000 $323,000

Average Market Time (Days) 201 162

Total Residential Units Sold 300 363

-

50

100

150

200

250

300

350

400

450

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

22.0%

Multi Family

20%

-10%

-27%

4%

22%

-8%

-19%

-19%

21%

ZIP CODES: 33931

$0

$100,000

$200,000

$300,000

$400,000

$500,000

$600,000

$700,000

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Single Family Multi-Family

0

50

100

150

200

250

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

Up

19.7%

Single Family

Median Sales Price Units Sold By Year

4th Qtr

24% 1st Qtr

30%

3rd Qtr

18% 2nd Qtr

28%

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

<100K 100K-150K 150K-200K 200K-250K 250K-300K 300K-350K 350K-500K 500K-1M 1M+

Single Family Multi-Family

Months of Resale Inventory

88%

1%11%

Foreclosure

Short Sale

Resale

Available Multi and Single Family

Single Family

1st Qtr

29%

4th Qtr

24%

2nd Qtr

27%

3rd Qtr

20%

Units Sold 2009 by Quarter

Listed for sale as of January 15, 2010

Med

ian P

rice

Month

s

Multi Family

Down

- 21.4%

Down

- 19.3%

Percent Change

Fort Myers Beach

83

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 25

FORECLOSURE HEAT MAP

Active Foreclosures Jan 15, 2010

The statements and figures are not guaranteed and are secured from sources we believe reliable.

Page 26

SHORT SALE HEAT MAP

Active Short Sales Jan 15, 2010

13131 UNIVERSITY DRIVE, FORT MYERS, FLORIDA 33907

G A R Y A M I L L S C O M