January 1 – June 15, 2011 Presented by Chas Berle State of the Market January 1 – June 15, 2011 Presented by Chas Berle

Recent Sales Since January 1, 2011 Number Average Price Sold List* Sell % Frenchmans Reserve 17 1,242,347 1,079,824 87 Frenchmans Creek 12 1,316,000 1,073,598 81 Sanctuary 6 411,233 396,833 96 Chambord 1 390,000 370,000 95 San Michele 4 1,126,000 982,500 87 *Most recent asking price Data Supplied by Regional MLS as of 6/15/2011

Currently For Sale* Number Average Asking Price Frenchmans Reserve 41 1,479,658 Frenchmans Creek 34 1,829,250 Sanctuary 5 438,380 Chambord 10 427,090 San Michele 8 1,164,625 * Resales only. Does not include New Homes or Models. MLS Data as of 6-15-2011

Notes and Observations There are currently over $125 Million in Homes for Sale in Frenchmans Creek and Frenchmans Reserve* Homes priced properly will sell faster and at a higher percentage of most recent Asking Price. There are only Twelve homes in Frenchmans Reserve priced at or below the trailing six month average of prices sold.* There have been more resales in Frenchmans Reserve since Jan 1st (17) than all of 2010 (15).* 41 Resales for sale in Frenchmans Reserve is the fewest number “on market” in the last 2 years. Of those, 6 are currently listed as “under contract”.* Toll Brothers has sold and closed on 5 new homes since January 1st. There are currently 5 more in some stage of construction. Chas Berle sold the home with the fewest days on market in Frenchmans Reserve in 2011.* There are 5 “short sales” listed in Frenchmans Reserve.* Chambord prices continue to slide and buying opportunities exist for the savvy investor. Financing Rates remain the lowest in years for qualified buyers. * Jan 1, 2011 thru June 15, 2011. Data supplied by Regional MLS

Summary and Outlook The Re-Sale market is improving since 2010. However, many houses are languishing on the market due to over-pricing. With only 14 Heritage lots remaining, Toll Brothers is accelerating discounts and incentives for new home buyers. No Signature lots remain. In Frenchmans Reserve, fewer re-sales make selling easier now….as long as pricing is realistic. 2011 Resales will exceed New Home sales in Frenchmans Reserve by a wide margin….for the first time ever! Lot location is becoming more important and definitely affects pricing.

Call to Action! If you are buying or selling, please give me a call for a more in-depth summary and the absolute LATEST information about the community you are interested in. Chas Berle 561-891-1072