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Click on a county to see to a detailed area report. Anderson County Jack County Bosque County Johnson County Brown County Jones County Callahan County Kaufman County Clay County Lamar County Coleman County Limestone County Collin County Montague County Comanche County Navarro County Local Market Updates A RESEARCH TOOL PROVIDED BY THE NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC. January 2013 Cooke County Nolan County Dallas County Palo Pinto County Delta County Parker County Denton County Rains County Eastland County Rockwall County Ellis County Shackelford County Erath County Smith County Fannin County Somervell County Franklin County Stephens County Freestone County Stonewall County Grayson County Tarrant County Hamilton County Taylor County Harrison County Upshur County Henderson County Van Zandt County Hill County Wise County Hood County Wood County Hopkins County Young County Hunt County All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

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Page 1: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

Click on a county to see to a detailed area report.

Anderson County Jack CountyBosque County Johnson CountyBrown County Jones CountyCallahan County Kaufman CountyClay County Lamar CountyColeman County Limestone CountyCollin County Montague CountyComanche County Navarro County

Local Market Updates A RESEARCH TOOL PROVIDED BY THE NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

January 2013

y yCooke County Nolan CountyDallas County Palo Pinto CountyDelta County Parker CountyDenton County Rains CountyEastland County Rockwall CountyEllis County Shackelford CountyErath County Smith CountyFannin County Somervell CountyFranklin County Stephens CountyFreestone County Stonewall CountyGrayson County Tarrant CountyHamilton County Taylor CountyHarrison County Upshur CountyHenderson County Van Zandt CountyHill County Wise CountyHood County Wood CountyHopkins County Young CountyHunt County

All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and MarketingAll data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 2: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 5 4 - 20.0% 5 4 - 20.0%

Pending Sales 1 0 - 100.0% 1 0 - 100.0%

Closed Sales 1 0 - 100.0% 1 0 - 100.0%

Average Sales Price* $27,000 $0 - 100.0% $27,000 $0 - 100.0%

Median Sales Price* $27,000 $0 - 100.0% $27,000 $0 - 100.0%

Percent of Original List Price Received* 67.7% 0.0% - 100.0% 67.7% 0.0% - 100.0%

Days on Market Until Sale 184 0 - 100.0% 184 0 - 100.0%

Inventory of Homes for Sale 18 16 - 11.1% -- -- --

Months Supply of Inventory 13.5 5.8 - 57.3% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Anderson County- 20.0% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

5

Year to Date 2012 2013

5

January 2012 2013

All MLS

Anderson County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 200%

- 100%

0%

+ 100%

+ 200%

+ 300%

+ 400%

+ 500%

+ 600%

+ 700%

+ 800%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1

4

0

New Listings Closed Sales- 100.0%- 20.0%

1

4

0

New Listings Closed Sales- 100.0%- 20.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 3: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 16 22 + 37.5% 16 22 + 37.5%

Pending Sales 6 8 + 33.3% 6 8 + 33.3%

Closed Sales 3 7 + 133.3% 3 7 + 133.3%

Average Sales Price* $35,333 $445,643 + 1161.3% $35,333 $445,643 + 1161.3%

Median Sales Price* $42,000 $157,000 + 273.8% $42,000 $157,000 + 273.8%

Percent of Original List Price Received* 72.9% 87.2% + 19.7% 72.9% 87.2% + 19.7%

Days on Market Until Sale 142 249 + 75.6% 142 249 + 75.6%

Inventory of Homes for Sale 144 126 - 12.5% -- -- --

Months Supply of Inventory 25.4 19.6 - 22.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Bosque County+ 37.5% + 133.3% + 273.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

22

Year to Date 2012 2013

22

January 2012 2013

All MLS

Bosque County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 50%

0%

+ 50%

+ 100%

+ 150%

+ 200%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

16

37

New Listings Closed Sales+ 133.3%+ 37.5%

16

37

New Listings Closed Sales+ 133.3%+ 37.5%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 4: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 66 57 - 13.6% 66 57 - 13.6%

Pending Sales 27 31 + 14.8% 27 31 + 14.8%

Closed Sales 15 20 + 33.3% 15 20 + 33.3%

Average Sales Price* $108,868 $113,579 + 4.3% $108,868 $113,579 + 4.3%

Median Sales Price* $78,000 $111,410 + 42.8% $78,000 $111,410 + 42.8%

Percent of Original List Price Received* 87.2% 83.4% - 4.3% 87.2% 83.4% - 4.3%

Days on Market Until Sale 160 200 + 24.7% 160 200 + 24.7%

Inventory of Homes for Sale 389 292 - 24.9% -- -- --

Months Supply of Inventory 14.8 9.2 - 37.6% -- -- --

Local Market Update – January 2013

Brown County- 13.6% + 33.3% + 42.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

6657

Year to Date 2012 2013

6657

January 2012 2013

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

All MLS

Brown County

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

15 20

New Listings Closed Sales+ 33.3%- 13.6%

15 20

New Listings Closed Sales+ 33.3%- 13.6%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 5: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 12 8 - 33.3% 12 8 - 33.3%

Pending Sales 3 8 + 166.7% 3 8 + 166.7%

Closed Sales 6 5 - 16.7% 6 5 - 16.7%

Average Sales Price* $100,833 $147,880 + 46.7% $100,833 $147,880 + 46.7%

Median Sales Price* $107,250 $140,000 + 30.5% $107,250 $140,000 + 30.5%

Percent of Original List Price Received* 90.4% 96.9% + 7.3% 90.4% 96.9% + 7.3%

Days on Market Until Sale 68 79 + 16.4% 68 79 + 16.4%

Inventory of Homes for Sale 68 60 - 11.8% -- -- --

Months Supply of Inventory 8.2 8.4 + 2.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Callahan County- 33.3% - 16.7% + 30.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

12

Year to Date 2012 2013

12

January 2012 2013

All MLS

Callahan County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

68

5

New Listings Closed Sales- 16.7%- 33.3%

68

5

New Listings Closed Sales- 16.7%- 33.3%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 6: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 0 1 -- 0 1 --

Pending Sales 0 0 -- 0 0 --

Closed Sales 2 0 - 100.0% 2 0 - 100.0%

Average Sales Price* $56,475 $0 - 100.0% $56,475 $0 - 100.0%

Median Sales Price* $56,475 $0 - 100.0% $56,475 $0 - 100.0%

Percent of Original List Price Received* 84.1% 0.0% - 100.0% 84.1% 0.0% - 100.0%

Days on Market Until Sale 130 0 - 100.0% 130 0 - 100.0%

Inventory of Homes for Sale 3 7 + 133.3% -- -- --

Months Supply of Inventory 2.1 7.0 + 226.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Clay County-- - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2

Year to Date 2012 2013

2

January 2012 2013

All MLS

Clay County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

- 80%

- 60%

- 40%

- 20%

0%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

0

1

0

New Listings Closed Sales- 100.0%--

0

1

0

New Listings Closed Sales- 100.0%--

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 7: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 18 10 - 44.4% 18 10 - 44.4%

Pending Sales 2 2 0.0% 2 2 0.0%

Closed Sales 2 3 + 50.0% 2 3 + 50.0%

Average Sales Price* $60,500 $24,500 - 59.5% $60,500 $24,500 - 59.5%

Median Sales Price* $60,500 $24,500 - 59.5% $60,500 $24,500 - 59.5%

Percent of Original List Price Received* 95.3% 62.9% - 34.0% 95.3% 62.9% - 34.0%

Days on Market Until Sale 13 129 + 889.7% 13 129 + 889.7%

Inventory of Homes for Sale 99 71 - 28.3% -- -- --

Months Supply of Inventory 20.5 18.6 - 9.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Coleman County- 44.4% + 50.0% - 59.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

18

Year to Date 2012 2013

18

January 2012 2013

All MLS

Coleman County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

- 50%

0%

+ 50%

+ 100%

+ 150%

+ 200%

+ 250%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

2

10

3

New Listings Closed Sales+ 50.0%- 44.4%

2

10

3

New Listings Closed Sales+ 50.0%- 44.4%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 8: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 1,262 1,227 - 2.8% 1,262 1,227 - 2.8%

Pending Sales 861 819 - 4.9% 861 819 - 4.9%

Closed Sales 600 673 + 12.2% 600 673 + 12.2%

Average Sales Price* $240,208 $246,696 + 2.7% $240,208 $246,696 + 2.7%

Median Sales Price* $190,100 $210,000 + 10.5% $190,100 $210,000 + 10.5%

Percent of Original List Price Received* 93.3% 94.5% + 1.3% 93.3% 94.5% + 1.3%

Days on Market Until Sale 90 62 - 30.4% 90 62 - 30.4%

Inventory of Homes for Sale 3,548 2,520 - 29.0% -- -- --

Months Supply of Inventory 4.0 2.4 - 40.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Collin County- 2.8% + 12.2% + 10.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1,262 1,227

Year to Date 2012 2013

1,262 1,227

January 2012 2013

All MLS

Collin County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

600 673

New Listings Closed Sales+ 12.2%- 2.8%

600 673

New Listings Closed Sales+ 12.2%- 2.8%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 9: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 15 13 - 13.3% 15 13 - 13.3%

Pending Sales 7 6 - 14.3% 7 6 - 14.3%

Closed Sales 4 2 - 50.0% 4 2 - 50.0%

Average Sales Price* $103,465 $87,000 - 15.9% $103,465 $87,000 - 15.9%

Median Sales Price* $95,430 $87,000 - 8.8% $95,430 $87,000 - 8.8%

Percent of Original List Price Received* 86.7% 82.5% - 4.8% 86.7% 82.5% - 4.8%

Days on Market Until Sale 310 91 - 70.8% 310 91 - 70.8%

Inventory of Homes for Sale 121 108 - 10.7% -- -- --

Months Supply of Inventory 22.0 19.6 - 10.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Comanche County- 13.3% - 50.0% - 8.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1513

Year to Date 2012 2013

1513

January 2012 2013

All MLS

Comanche County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

42

New Listings Closed Sales- 50.0%- 13.3%

42

New Listings Closed Sales- 50.0%- 13.3%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 10: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 48 54 + 12.5% 48 54 + 12.5%

Pending Sales 17 21 + 23.5% 17 21 + 23.5%

Closed Sales 16 19 + 18.8% 16 19 + 18.8%

Average Sales Price* $226,366 $145,200 - 35.9% $226,366 $145,200 - 35.9%

Median Sales Price* $135,000 $108,000 - 20.0% $135,000 $108,000 - 20.0%

Percent of Original List Price Received* 86.1% 90.3% + 4.9% 86.1% 90.3% + 4.9%

Days on Market Until Sale 188 153 - 18.5% 188 153 - 18.5%

Inventory of Homes for Sale 292 237 - 18.8% -- -- --

Months Supply of Inventory 12.3 7.4 - 39.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Cooke County+ 12.5% + 18.8% - 20.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

4854

Year to Date 2012 2013

4854

January 2012 2013

All MLS

Cooke County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

8

16 19

New Listings Closed Sales+ 18.8%+ 12.5%

16 19

New Listings Closed Sales+ 18.8%+ 12.5%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 11: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 2,484 2,365 - 4.8% 2,484 2,365 - 4.8%

Pending Sales 1,443 1,534 + 6.3% 1,443 1,534 + 6.3%

Closed Sales 1,082 1,173 + 8.4% 1,082 1,173 + 8.4%

Average Sales Price* $191,084 $197,838 + 3.5% $191,084 $197,838 + 3.5%

Median Sales Price* $111,965 $124,640 + 11.3% $111,965 $124,640 + 11.3%

Percent of Original List Price Received* 91.1% 92.8% + 1.9% 91.1% 92.8% + 1.9%

Days on Market Until Sale 90 71 - 20.4% 90 71 - 20.4%

Inventory of Homes for Sale 8,166 5,496 - 32.7% -- -- --

Months Supply of Inventory 5.3 3.1 - 41.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Dallas County- 4.8% + 8.4% + 11.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2,484 2,365

Year to Date 2012 2013

2,484 2,365

January 2012 2013

All MLS

Dallas County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,082

2,365

1,173

New Listings Closed Sales+ 8.4%- 4.8%

1,082

2,365

1,173

New Listings Closed Sales+ 8.4%- 4.8%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 12: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 7 5 - 28.6% 7 5 - 28.6%

Pending Sales 5 3 - 40.0% 5 3 - 40.0%

Closed Sales 3 0 - 100.0% 3 0 - 100.0%

Average Sales Price* $315,719 $0 - 100.0% $315,719 $0 - 100.0%

Median Sales Price* $318,780 $0 - 100.0% $318,780 $0 - 100.0%

Percent of Original List Price Received* 96.5% 0.0% - 100.0% 96.5% 0.0% - 100.0%

Days on Market Until Sale 134 0 - 100.0% 134 0 - 100.0%

Inventory of Homes for Sale 43 41 - 4.7% -- -- --

Months Supply of Inventory 14.3 12.5 - 12.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Delta County- 28.6% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

7

Year to Date 2012 2013

7

January 2012 2013

All MLS

Delta County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

- 50%

0%

+ 50%

+ 100%

+ 150%

+ 200%

+ 250%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

3

5

0

New Listings Closed Sales- 100.0%- 28.6%

3

5

0

New Listings Closed Sales- 100.0%- 28.6%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 13: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 1,134 1,121 - 1.1% 1,134 1,121 - 1.1%

Pending Sales 706 704 - 0.3% 706 704 - 0.3%

Closed Sales 497 616 + 23.9% 497 616 + 23.9%

Average Sales Price* $211,826 $222,660 + 5.1% $211,826 $222,660 + 5.1%

Median Sales Price* $170,500 $185,600 + 8.9% $170,500 $185,600 + 8.9%

Percent of Original List Price Received* 92.4% 94.8% + 2.6% 92.4% 94.8% + 2.6%

Days on Market Until Sale 88 67 - 23.4% 88 67 - 23.4%

Inventory of Homes for Sale 3,428 2,485 - 27.5% -- -- --

Months Supply of Inventory 4.7 2.7 - 41.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Denton County- 1.1% + 23.9% + 8.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1,134 1,121

Year to Date 2012 2013

1,134 1,121

January 2012 2013

All MLS

Denton County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

497616

New Listings Closed Sales+ 23.9%- 1.1%

497616

New Listings Closed Sales+ 23.9%- 1.1%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 14: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 15 16 + 6.7% 15 16 + 6.7%

Pending Sales 7 7 0.0% 7 7 0.0%

Closed Sales 4 9 + 125.0% 4 9 + 125.0%

Average Sales Price* $103,375 $73,000 - 29.4% $103,375 $73,000 - 29.4%

Median Sales Price* $39,750 $57,500 + 44.7% $39,750 $57,500 + 44.7%

Percent of Original List Price Received* 81.7% 87.4% + 7.0% 81.7% 87.4% + 7.0%

Days on Market Until Sale 117 193 + 64.9% 117 193 + 64.9%

Inventory of Homes for Sale 125 128 + 2.4% -- -- --

Months Supply of Inventory 15.2 16.0 + 5.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Eastland County+ 6.7% + 125.0% + 44.7%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

15 16

Year to Date 2012 2013

15 16

January 2012 2013

All MLS

Eastland County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

+ 70%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

4

9

New Listings Closed Sales+ 125.0%+ 6.7%

4

9

New Listings Closed Sales+ 125.0%+ 6.7%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 15: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 195 239 + 22.6% 195 239 + 22.6%

Pending Sales 113 116 + 2.7% 113 116 + 2.7%

Closed Sales 97 99 + 2.1% 97 99 + 2.1%

Average Sales Price* $148,884 $165,061 + 10.9% $148,884 $165,061 + 10.9%

Median Sales Price* $150,000 $137,000 - 8.7% $150,000 $137,000 - 8.7%

Percent of Original List Price Received* 92.0% 94.3% + 2.5% 92.0% 94.3% + 2.5%

Days on Market Until Sale 91 88 - 2.9% 91 88 - 2.9%

Inventory of Homes for Sale 826 667 - 19.2% -- -- --

Months Supply of Inventory 6.9 4.9 - 28.8% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Ellis County+ 22.6% + 2.1% - 8.7%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

239

Year to Date 2012 2013

239

January 2012 2013

All MLS

Ellis County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 8%

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

+ 12%

+ 14%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

195

97

239

99

New Listings Closed Sales+ 2.1%+ 22.6%

195

97

39

99

New Listings Closed Sales+ 2.1%+ 22.6%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 16: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 52 60 + 15.4% 52 60 + 15.4%

Pending Sales 24 16 - 33.3% 24 16 - 33.3%

Closed Sales 15 18 + 20.0% 15 18 + 20.0%

Average Sales Price* $170,487 $97,643 - 42.7% $170,487 $97,643 - 42.7%

Median Sales Price* $98,000 $80,500 - 17.9% $98,000 $80,500 - 17.9%

Percent of Original List Price Received* 77.9% 88.9% + 14.2% 77.9% 88.9% + 14.2%

Days on Market Until Sale 128 58 - 54.3% 128 58 - 54.3%

Inventory of Homes for Sale 359 312 - 13.1% -- -- --

Months Supply of Inventory 13.5 10.6 - 21.9% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Erath County+ 15.4% + 20.0% - 17.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

5260

Year to Date 2012 2013

5260

January 2012 2013

All MLS

Erath County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

52

15 18

New Listings Closed Sales+ 20.0%+ 15.4%

52

15 18

New Listings Closed Sales+ 20.0%+ 15.4%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 17: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 49 46 - 6.1% 49 46 - 6.1%

Pending Sales 21 22 + 4.8% 21 22 + 4.8%

Closed Sales 21 11 - 47.6% 21 11 - 47.6%

Average Sales Price* $126,655 $94,300 - 25.5% $126,655 $94,300 - 25.5%

Median Sales Price* $128,000 $69,000 - 46.1% $128,000 $69,000 - 46.1%

Percent of Original List Price Received* 87.0% 90.2% + 3.7% 87.0% 90.2% + 3.7%

Days on Market Until Sale 116 62 - 46.4% 116 62 - 46.4%

Inventory of Homes for Sale 265 214 - 19.2% -- -- --

Months Supply of Inventory 12.6 9.7 - 22.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Fannin County- 6.1% - 47.6% - 46.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

49 46

Year to Date 2012 2013

49 46

January 2012 2013

All MLS

Fannin County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

21

46

11

New Listings Closed Sales- 47.6%- 6.1%

21

46

11

New Listings Closed Sales- 47.6%- 6.1%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 18: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 4 6 + 50.0% 4 6 + 50.0%

Pending Sales 4 2 - 50.0% 4 2 - 50.0%

Closed Sales 2 2 0.0% 2 2 0.0%

Average Sales Price* $321,000 $422,500 + 31.6% $321,000 $422,500 + 31.6%

Median Sales Price* $321,000 $422,500 + 31.6% $321,000 $422,500 + 31.6%

Percent of Original List Price Received* 89.6% 85.9% - 4.1% 89.6% 85.9% - 4.1%

Days on Market Until Sale 211 79 - 62.5% 211 79 - 62.5%

Inventory of Homes for Sale 50 47 - 6.0% -- -- --

Months Supply of Inventory 17.7 15.7 - 11.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Franklin County+ 50.0% 0.0% + 31.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

6

Year to Date 2012 2013

6

January 2012 2013

All MLS

Franklin County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

- 50%

0%

+ 50%

+ 100%

+ 150%

+ 200%

+ 250%

+ 300%

+ 350%

+ 400%

+ 450%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

4

2 2

New Listings Closed Sales0.0%+ 50.0%

4

2 2

New Listings Closed Sales0.0%+ 50.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 19: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 21 15 - 28.6% 21 15 - 28.6%

Pending Sales 5 11 + 120.0% 5 11 + 120.0%

Closed Sales 3 6 + 100.0% 3 6 + 100.0%

Average Sales Price* $119,333 $95,092 - 20.3% $119,333 $95,092 - 20.3%

Median Sales Price* $130,000 $86,525 - 33.4% $130,000 $86,525 - 33.4%

Percent of Original List Price Received* 90.9% 91.9% + 1.1% 90.9% 91.9% + 1.1%

Days on Market Until Sale 41 109 + 168.9% 41 109 + 168.9%

Inventory of Homes for Sale 106 84 - 20.8% -- -- --

Months Supply of Inventory 14.5 11.0 - 24.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Freestone County- 28.6% + 100.0% - 33.4%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

21

Year to Date 2012 2013

21

January 2012 2013

All MLS

Freestone County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

+ 100%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

3

15

6

New Listings Closed Sales+ 100.0%- 28.6%

3

15

6

New Listings Closed Sales+ 100.0%- 28.6%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 20: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 170 199 + 17.1% 170 199 + 17.1%

Pending Sales 78 78 0.0% 78 78 0.0%

Closed Sales 71 67 - 5.6% 71 67 - 5.6%

Average Sales Price* $120,850 $109,727 - 9.2% $120,850 $109,727 - 9.2%

Median Sales Price* $85,000 $88,500 + 4.1% $85,000 $88,500 + 4.1%

Percent of Original List Price Received* 85.1% 91.1% + 7.0% 85.1% 91.1% + 7.0%

Days on Market Until Sale 160 88 - 45.1% 160 88 - 45.1%

Inventory of Homes for Sale 913 808 - 11.5% -- -- --

Months Supply of Inventory 9.8 8.2 - 17.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Grayson County+ 17.1% - 5.6% + 4.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

199

Year to Date 2012 2013

199

January 2012 2013

All MLS

Grayson County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

170

71

199

67

New Listings Closed Sales- 5.6%+ 17.1%

170

71

99

67

New Listings Closed Sales- 5.6%+ 17.1%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 21: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 13 6 - 53.8% 13 6 - 53.8%

Pending Sales 1 5 + 400.0% 1 5 + 400.0%

Closed Sales 0 3 -- 0 3 --

Average Sales Price* $0 $129,767 -- $0 $129,767 --

Median Sales Price* $0 $139,900 -- $0 $139,900 --

Percent of Original List Price Received* 0.0% 84.7% -- 0.0% 84.7% --

Days on Market Until Sale 0 312 -- 0 312 --

Inventory of Homes for Sale 87 67 - 23.0% -- -- --

Months Supply of Inventory 59.8 22.3 - 62.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Hamilton County- 53.8% -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

13

Year to Date 2012 2013

13

January 2012 2013

All MLS

Hamilton County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

0%

+ 100%

+ 200%

+ 300%

+ 400%

+ 500%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

0

6

3

New Listings Closed Sales--- 53.8%

0

6

3

New Listings Closed Sales--- 53.8%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 22: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 0 0 -- 0 0 --

Pending Sales 1 0 - 100.0% 1 0 - 100.0%

Closed Sales 0 0 -- 0 0 --

Average Sales Price* $0 $0 -- $0 $0 --

Median Sales Price* $0 $0 -- $0 $0 --

Percent of Original List Price Received* 0.0% 0.0% -- 0.0% 0.0% --

Days on Market Until Sale 0 0 -- 0 0 --

Inventory of Homes for Sale 0 3 0.0 -- -- --

Months Supply of Inventory 0.0 3.0 0.0 -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Harrison County-- -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

Year to Date 2012 2013January 2012 2013

All MLS

Harrison County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 50%

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

0 00 0

New Listings Closed Sales----

0 00 0

New Listings Closed Sales----

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 23: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 80 77 - 3.8% 80 77 - 3.8%

Pending Sales 28 27 - 3.6% 28 27 - 3.6%

Closed Sales 15 16 + 6.7% 15 16 + 6.7%

Average Sales Price* $127,445 $184,514 + 44.8% $127,445 $184,514 + 44.8%

Median Sales Price* $72,900 $112,575 + 54.4% $72,900 $112,575 + 54.4%

Percent of Original List Price Received* 84.1% 90.3% + 7.4% 84.1% 90.3% + 7.4%

Days on Market Until Sale 93 144 + 54.6% 93 144 + 54.6%

Inventory of Homes for Sale 497 448 - 9.9% -- -- --

Months Supply of Inventory 18.2 15.1 - 17.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Henderson County

- 3.8% + 6.7% + 54.4%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

January Year to Date

80 77

Year to Date 2012 2013

80 77

January 2012 2013

All MLS

Henderson County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

15 16

New Listings Closed Sales+ 6.7%- 3.8%

15 16

New Listings Closed Sales+ 6.7%- 3.8%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 24: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 62 54 - 12.9% 62 54 - 12.9%

Pending Sales 23 9 - 60.9% 23 9 - 60.9%

Closed Sales 14 8 - 42.9% 14 8 - 42.9%

Average Sales Price* $72,729 $95,875 + 31.8% $72,729 $95,875 + 31.8%

Median Sales Price* $61,250 $101,750 + 66.1% $61,250 $101,750 + 66.1%

Percent of Original List Price Received* 79.0% 96.1% + 21.6% 79.0% 96.1% + 21.6%

Days on Market Until Sale 111 120 + 7.7% 111 120 + 7.7%

Inventory of Homes for Sale 301 298 - 1.0% -- -- --

Months Supply of Inventory 18.2 15.1 - 16.9% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Hill County- 12.9% - 42.9% + 66.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

6254

Year to Date 2012 2013

6254

January 2012 2013

All MLS

Hill County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

14

54

8

New Listings Closed Sales- 42.9%- 12.9%

14

54

8

New Listings Closed Sales- 42.9%- 12.9%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 25: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 118 125 + 5.9% 118 125 + 5.9%

Pending Sales 47 59 + 25.5% 47 59 + 25.5%

Closed Sales 40 55 + 37.5% 40 55 + 37.5%

Average Sales Price* $156,068 $181,446 + 16.3% $156,068 $181,446 + 16.3%

Median Sales Price* $142,500 $167,500 + 17.5% $142,500 $167,500 + 17.5%

Percent of Original List Price Received* 90.0% 92.1% + 2.3% 90.0% 92.1% + 2.3%

Days on Market Until Sale 122 124 + 2.3% 122 124 + 2.3%

Inventory of Homes for Sale 681 580 - 14.8% -- -- --

Months Supply of Inventory 10.9 8.6 - 21.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Hood County+ 5.9% + 37.5% + 17.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

118 125

Year to Date 2012 2013

118 125

January 2012 2013

All MLS

Hood County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

4055

New Listings Closed Sales+ 37.5%+ 5.9%

4055

New Listings Closed Sales+ 37.5%+ 5.9%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 26: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 47 42 - 10.6% 47 42 - 10.6%

Pending Sales 21 18 - 14.3% 21 18 - 14.3%

Closed Sales 15 19 + 26.7% 15 19 + 26.7%

Average Sales Price* $178,727 $126,450 - 29.2% $178,727 $126,450 - 29.2%

Median Sales Price* $82,000 $75,000 - 8.5% $82,000 $75,000 - 8.5%

Percent of Original List Price Received* 80.8% 81.3% + 0.6% 80.8% 81.3% + 0.6%

Days on Market Until Sale 127 85 - 33.1% 127 85 - 33.1%

Inventory of Homes for Sale 234 192 - 17.9% -- -- --

Months Supply of Inventory 13.1 8.7 - 33.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Hopkins County- 10.6% + 26.7% - 8.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

4742

Year to Date 2012 2013

4742

January 2012 2013

All MLS

Hopkins County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1519

New Listings Closed Sales+ 26.7%- 10.6%

1519

New Listings Closed Sales+ 26.7%- 10.6%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 27: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 107 127 + 18.7% 107 127 + 18.7%

Pending Sales 49 48 - 2.0% 49 48 - 2.0%

Closed Sales 40 38 - 5.0% 40 38 - 5.0%

Average Sales Price* $78,814 $116,152 + 47.4% $78,814 $116,152 + 47.4%

Median Sales Price* $72,950 $99,500 + 36.4% $72,950 $99,500 + 36.4%

Percent of Original List Price Received* 91.6% 92.7% + 1.2% 91.6% 92.7% + 1.2%

Days on Market Until Sale 115 88 - 24.0% 115 88 - 24.0%

Inventory of Homes for Sale 558 482 - 13.6% -- -- --

Months Supply of Inventory 10.4 7.6 - 26.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Hunt County+ 18.7% - 5.0% + 36.4%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

107127

Year to Date 2012 2013

107127

January 2012 2013

All MLS

Hunt County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

107

40 38

New Listings Closed Sales- 5.0%+ 18.7%

107

40 38

New Listings Closed Sales- 5.0%+ 18.7%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 28: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 3 4 + 33.3% 3 4 + 33.3%

Pending Sales 1 2 + 100.0% 1 2 + 100.0%

Closed Sales 1 0 - 100.0% 1 0 - 100.0%

Average Sales Price* $106,000 $0 - 100.0% $106,000 $0 - 100.0%

Median Sales Price* $106,000 $0 - 100.0% $106,000 $0 - 100.0%

Percent of Original List Price Received* 97.2% 0.0% - 100.0% 97.2% 0.0% - 100.0%

Days on Market Until Sale 112 0 - 100.0% 112 0 - 100.0%

Inventory of Homes for Sale 16 26 + 62.5% -- -- --

Months Supply of Inventory 8.9 11.1 + 25.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Jack County+ 33.3% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

4

Year to Date 2012 2013

4

January 2012 2013

All MLS

Jack County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

0%

+ 100%

+ 200%

+ 300%

+ 400%

+ 500%

+ 600%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

3

1

0

New Listings Closed Sales- 100.0%+ 33.3%

3

1

0

New Listings Closed Sales- 100.0%+ 33.3%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 29: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 208 213 + 2.4% 208 213 + 2.4%

Pending Sales 106 124 + 17.0% 106 124 + 17.0%

Closed Sales 77 94 + 22.1% 77 94 + 22.1%

Average Sales Price* $94,794 $125,799 + 32.7% $94,794 $125,799 + 32.7%

Median Sales Price* $72,000 $115,589 + 60.5% $72,000 $115,589 + 60.5%

Percent of Original List Price Received* 92.4% 92.3% - 0.1% 92.4% 92.3% - 0.1%

Days on Market Until Sale 92 95 + 2.9% 92 95 + 2.9%

Inventory of Homes for Sale 786 682 - 13.2% -- -- --

Months Supply of Inventory 7.0 5.2 - 26.3% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Johnson County+ 2.4% + 22.1% + 60.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

208 213

Year to Date 2012 2013

208 213

January 2012 2013

All MLS

Johnson County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

77 94

New Listings Closed Sales+ 22.1%+ 2.4%

77 94

New Listings Closed Sales+ 22.1%+ 2.4%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 30: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 9 14 + 55.6% 9 14 + 55.6%

Pending Sales 11 8 - 27.3% 11 8 - 27.3%

Closed Sales 4 9 + 125.0% 4 9 + 125.0%

Average Sales Price* $119,625 $75,100 - 37.2% $119,625 $75,100 - 37.2%

Median Sales Price* $80,500 $65,000 - 19.3% $80,500 $65,000 - 19.3%

Percent of Original List Price Received* 70.6% 89.9% + 27.4% 70.6% 89.9% + 27.4%

Days on Market Until Sale 91 66 - 27.8% 91 66 - 27.8%

Inventory of Homes for Sale 46 52 + 13.0% -- -- --

Months Supply of Inventory 6.3 8.7 + 38.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Jones County+ 55.6% + 125.0% - 19.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

14

Year to Date 2012 2013

14

January 2012 2013

All MLS

Jones County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

9

4

9

New Listings Closed Sales+ 125.0%+ 55.6%

9

4

9

New Listings Closed Sales+ 125.0%+ 55.6%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 31: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 161 168 + 4.3% 161 168 + 4.3%

Pending Sales 91 120 + 31.9% 91 120 + 31.9%

Closed Sales 64 83 + 29.7% 64 83 + 29.7%

Average Sales Price* $118,834 $144,549 + 21.6% $118,834 $144,549 + 21.6%

Median Sales Price* $110,490 $141,900 + 28.4% $110,490 $141,900 + 28.4%

Percent of Original List Price Received* 90.0% 91.5% + 1.7% 90.0% 91.5% + 1.7%

Days on Market Until Sale 96 74 - 23.6% 96 74 - 23.6%

Inventory of Homes for Sale 674 616 - 8.6% -- -- --

Months Supply of Inventory 7.4 5.6 - 24.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Kaufman County+ 4.3% + 29.7% + 28.4%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

161 168

Year to Date 2012 2013

161 168

January 2012 2013

All MLS

Kaufman County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

6483

New Listings Closed Sales+ 29.7%+ 4.3%

6483

New Listings Closed Sales+ 29.7%+ 4.3%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 32: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 21 20 - 4.8% 21 20 - 4.8%

Pending Sales 7 8 + 14.3% 7 8 + 14.3%

Closed Sales 7 8 + 14.3% 7 8 + 14.3%

Average Sales Price* $67,286 $123,935 + 84.2% $67,286 $123,935 + 84.2%

Median Sales Price* $75,000 $107,591 + 43.5% $75,000 $107,591 + 43.5%

Percent of Original List Price Received* 81.0% 92.9% + 14.7% 81.0% 92.9% + 14.7%

Days on Market Until Sale 77 71 - 7.6% 77 71 - 7.6%

Inventory of Homes for Sale 119 107 - 10.1% -- -- --

Months Supply of Inventory 13.0 10.4 - 19.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Lamar County- 4.8% + 14.3% + 43.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

21 20

Year to Date 2012 2013

21 20

January 2012 2013

All MLS

Lamar County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

7

0

8

New Listings Closed Sales+ 14.3%- 4.8%

7 8

New Listings Closed Sales+ 14.3%- 4.8%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 33: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 8 3 - 62.5% 8 3 - 62.5%

Pending Sales 4 1 - 75.0% 4 1 - 75.0%

Closed Sales 2 1 - 50.0% 2 1 - 50.0%

Average Sales Price* $20,850 $65,000 + 211.8% $20,850 $65,000 + 211.8%

Median Sales Price* $20,850 $65,000 + 211.8% $20,850 $65,000 + 211.8%

Percent of Original List Price Received* 78.8% 93.0% + 18.0% 78.8% 93.0% + 18.0%

Days on Market Until Sale 70 42 - 40.0% 70 42 - 40.0%

Inventory of Homes for Sale 23 16 - 30.4% -- -- --

Months Supply of Inventory 14.8 10.3 - 30.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Limestone County- 62.5% - 50.0% + 211.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

8

Year to Date 2012 2013

8

January 2012 2013

All MLS

Limestone County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 150%

- 100%

- 50%

0%

+ 50%

+ 100%

+ 150%

+ 200%

+ 250%

+ 300%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

23

1

New Listings Closed Sales- 50.0%- 62.5%

23

1

New Listings Closed Sales- 50.0%- 62.5%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 34: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 20 18 - 10.0% 20 18 - 10.0%

Pending Sales 6 9 + 50.0% 6 9 + 50.0%

Closed Sales 7 10 + 42.9% 7 10 + 42.9%

Average Sales Price* $45,114 $113,102 + 150.7% $45,114 $113,102 + 150.7%

Median Sales Price* $55,000 $67,662 + 23.0% $55,000 $67,662 + 23.0%

Percent of Original List Price Received* 88.6% 90.5% + 2.2% 88.6% 90.5% + 2.2%

Days on Market Until Sale 271 94 - 65.5% 271 94 - 65.5%

Inventory of Homes for Sale 111 176 + 58.6% -- -- --

Months Supply of Inventory 19.0 17.7 - 6.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Montague County- 10.0% + 42.9% + 23.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2018

Year to Date 2012 2013

2018

January 2012 2013

All MLS

Montague County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

0%

+ 100%

+ 200%

+ 300%

+ 400%

+ 500%

+ 600%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

0

7

18

10

New Listings Closed Sales+ 42.9%- 10.0%

7

18

10

New Listings Closed Sales+ 42.9%- 10.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 35: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 80 56 - 30.0% 80 56 - 30.0%

Pending Sales 31 17 - 45.2% 31 17 - 45.2%

Closed Sales 14 25 + 78.6% 14 25 + 78.6%

Average Sales Price* $127,043 $160,431 + 26.3% $127,043 $160,431 + 26.3%

Median Sales Price* $97,500 $120,000 + 23.1% $97,500 $120,000 + 23.1%

Percent of Original List Price Received* 89.0% 90.4% + 1.5% 89.0% 90.4% + 1.5%

Days on Market Until Sale 116 105 - 9.5% 116 105 - 9.5%

Inventory of Homes for Sale 356 268 - 24.7% -- -- --

Months Supply of Inventory 15.2 9.4 - 38.0% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Navarro County- 30.0% + 78.6% + 23.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

80

Year to Date 2012 2013

80

January 2012 2013

All MLS

Navarro County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

14

56

25

New Listings Closed Sales+ 78.6%- 30.0%

14

56

25

New Listings Closed Sales+ 78.6%- 30.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 36: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 1 2 + 100.0% 1 2 + 100.0%

Pending Sales 0 0 -- 0 0 --

Closed Sales 1 0 - 100.0% 1 0 - 100.0%

Average Sales Price* $74,000 $0 - 100.0% $74,000 $0 - 100.0%

Median Sales Price* $74,000 $0 - 100.0% $74,000 $0 - 100.0%

Percent of Original List Price Received* 59.3% 0.0% - 100.0% 59.3% 0.0% - 100.0%

Days on Market Until Sale 161 0 - 100.0% 161 0 - 100.0%

Inventory of Homes for Sale 7 10 + 42.9% -- -- --

Months Supply of Inventory 3.9 5.5 + 38.5% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Nolan County+ 100.0% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2

Year to Date 2012 2013

2

January 2012 2013

All MLS

Nolan County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

- 50%

0%

+ 50%

+ 100%

+ 150%

+ 200%

+ 250%

+ 300%

+ 350%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1 1

0

New Listings Closed Sales- 100.0%+ 100.0%

1 1

0

New Listings Closed Sales- 100.0%+ 100.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 37: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 79 73 - 7.6% 79 73 - 7.6%

Pending Sales 15 16 + 6.7% 15 16 + 6.7%

Closed Sales 11 10 - 9.1% 11 10 - 9.1%

Average Sales Price* $104,682 $338,800 + 223.6% $104,682 $338,800 + 223.6%

Median Sales Price* $64,000 $129,750 + 102.7% $64,000 $129,750 + 102.7%

Percent of Original List Price Received* 83.7% 83.8% + 0.0% 83.7% 83.8% + 0.0%

Days on Market Until Sale 172 246 + 43.3% 172 246 + 43.3%

Inventory of Homes for Sale 354 352 - 0.6% -- -- --

Months Supply of Inventory 18.9 17.1 - 9.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Palo Pinto County- 7.6% - 9.1% + 102.7%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

79 73

Year to Date 2012 2013

79 73

January 2012 2013

All MLS

Palo Pinto County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

11 10

New Listings Closed Sales- 9.1%- 7.6%

11 10

New Listings Closed Sales- 9.1%- 7.6%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 38: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 226 214 - 5.3% 226 214 - 5.3%

Pending Sales 104 113 + 8.7% 104 113 + 8.7%

Closed Sales 81 98 + 21.0% 81 98 + 21.0%

Average Sales Price* $182,043 $185,934 + 2.1% $182,043 $185,934 + 2.1%

Median Sales Price* $165,000 $168,500 + 2.1% $165,000 $168,500 + 2.1%

Percent of Original List Price Received* 88.8% 93.6% + 5.4% 88.8% 93.6% + 5.4%

Days on Market Until Sale 94 96 + 1.5% 94 96 + 1.5%

Inventory of Homes for Sale 964 832 - 13.7% -- -- --

Months Supply of Inventory 8.3 6.5 - 21.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Parker County- 5.3% + 21.0% + 2.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

226 214

Year to Date 2012 2013

226 214

January 2012 2013

All MLS

Parker County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 10%

- 8%

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

+ 12%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

81 98

New Listings Closed Sales+ 21.0%- 5.3%

81 98

New Listings Closed Sales+ 21.0%- 5.3%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 39: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 12 13 + 8.3% 12 13 + 8.3%

Pending Sales 4 11 + 175.0% 4 11 + 175.0%

Closed Sales 4 4 0.0% 4 4 0.0%

Average Sales Price* $111,225 $111,000 - 0.2% $111,225 $111,000 - 0.2%

Median Sales Price* $84,950 $89,000 + 4.8% $84,950 $89,000 + 4.8%

Percent of Original List Price Received* 87.8% 91.8% + 4.6% 87.8% 91.8% + 4.6%

Days on Market Until Sale 140 206 + 46.9% 140 206 + 46.9%

Inventory of Homes for Sale 98 99 + 1.0% -- -- --

Months Supply of Inventory 17.6 17.5 - 0.5% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Rains County+ 8.3% 0.0% + 4.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

12 13

Year to Date 2012 2013

12 13

January 2012 2013

All MLS

Rains County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

4 4

New Listings Closed Sales0.0%+ 8.3%

4 4

New Listings Closed Sales0.0%+ 8.3%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 40: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 154 174 + 13.0% 154 174 + 13.0%

Pending Sales 93 100 + 7.5% 93 100 + 7.5%

Closed Sales 86 96 + 11.6% 86 96 + 11.6%

Average Sales Price* $214,584 $203,682 - 5.1% $214,584 $203,682 - 5.1%

Median Sales Price* $161,500 $171,038 + 5.9% $161,500 $171,038 + 5.9%

Percent of Original List Price Received* 90.3% 92.0% + 1.8% 90.3% 92.0% + 1.8%

Days on Market Until Sale 104 92 - 11.3% 104 92 - 11.3%

Inventory of Homes for Sale 636 515 - 19.0% -- -- --

Months Supply of Inventory 6.3 4.3 - 30.7% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Rockwall County+ 13.0% + 11.6% + 5.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

154174

Year to Date 2012 2013

154174

January 2012 2013

All MLS

Rockwall County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

154

86 96

New Listings Closed Sales+ 11.6%+ 13.0%

154

86 96

New Listings Closed Sales+ 11.6%+ 13.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 41: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 0 0 -- 0 0 --

Pending Sales 0 0 -- 0 0 --

Closed Sales 1 0 - 100.0% 1 0 - 100.0%

Average Sales Price* $148,500 $0 - 100.0% $148,500 $0 - 100.0%

Median Sales Price* $148,500 $0 - 100.0% $148,500 $0 - 100.0%

Percent of Original List Price Received* 82.7% 0.0% - 100.0% 82.7% 0.0% - 100.0%

Days on Market Until Sale 146 0 - 100.0% 146 0 - 100.0%

Inventory of Homes for Sale 2 1 - 50.0% -- -- --

Months Supply of Inventory 1.6 1.0 - 37.5% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Shackelford County

-- - 100.0% - 100.0%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

January Year to Date

1

Year to Date 2012 2013

1

January 2012 2013

All MLS

Shackelford County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 200%

- 100%

0%

+ 100%

+ 200%

+ 300%

+ 400%

+ 500%

+ 600%

+ 700%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

0 0 0

New Listings Closed Sales- 100.0%--

0 0 0

New Listings Closed Sales- 100.0%--

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 42: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 41 42 + 2.4% 41 42 + 2.4%

Pending Sales 17 17 0.0% 17 17 0.0%

Closed Sales 15 25 + 66.7% 15 25 + 66.7%

Average Sales Price* $194,023 $207,422 + 6.9% $194,023 $207,422 + 6.9%

Median Sales Price* $157,000 $157,400 + 0.3% $157,000 $157,400 + 0.3%

Percent of Original List Price Received* 83.3% 95.7% + 14.8% 83.3% 95.7% + 14.8%

Days on Market Until Sale 118 93 - 20.9% 118 93 - 20.9%

Inventory of Homes for Sale 223 223 0.0% -- -- --

Months Supply of Inventory 13.1 8.8 - 32.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Smith County+ 2.4% + 66.7% + 0.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

41 42

Year to Date 2012 2013

41 42

January 2012 2013

All MLS

Smith County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

15

25

New Listings Closed Sales+ 66.7%+ 2.4%

15

25

New Listings Closed Sales+ 66.7%+ 2.4%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 43: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 24 9 - 62.5% 24 9 - 62.5%

Pending Sales 8 5 - 37.5% 8 5 - 37.5%

Closed Sales 8 3 - 62.5% 8 3 - 62.5%

Average Sales Price* $190,488 $164,167 - 13.8% $190,488 $164,167 - 13.8%

Median Sales Price* $149,950 $128,500 - 14.3% $149,950 $128,500 - 14.3%

Percent of Original List Price Received* 84.5% 94.9% + 12.3% 84.5% 94.9% + 12.3%

Days on Market Until Sale 152 131 - 13.4% 152 131 - 13.4%

Inventory of Homes for Sale 103 85 - 17.5% -- -- --

Months Supply of Inventory 16.3 15.7 - 3.5% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Somervell County- 62.5% - 62.5% - 14.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

24

Year to Date 2012 2013

24

January 2012 2013

All MLS

Somervell County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

+ 70%

+ 80%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

89

3

New Listings Closed Sales- 62.5%- 62.5%

89

3

New Listings Closed Sales- 62.5%- 62.5%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 44: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 8 8 0.0% 8 8 0.0%

Pending Sales 4 6 + 50.0% 4 6 + 50.0%

Closed Sales 0 2 -- 0 2 --

Average Sales Price* $0 $251,000 -- $0 $251,000 --

Median Sales Price* $0 $251,000 -- $0 $251,000 --

Percent of Original List Price Received* 0.0% 88.9% -- 0.0% 88.9% --

Days on Market Until Sale 0 134 -- 0 134 --

Inventory of Homes for Sale 30 24 - 20.0% -- -- --

Months Supply of Inventory 15.8 6.7 - 57.8% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Stephens County0.0% -- --Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

January Year to Date

8 8

Year to Date 2012 2013

8 8

January 2012 2013

All MLS

Stephens County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

- 50%

0%

+ 50%

+ 100%

+ 150%

+ 200%

+ 250%

+ 300%

+ 350%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

0

2

New Listings Closed Sales--0.0%

0

2

New Listings Closed Sales--0.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 45: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 0 0 -- 0 0 --

Pending Sales 0 0 -- 0 0 --

Closed Sales 0 0 -- 0 0 --

Average Sales Price* $0 $0 -- $0 $0 --

Median Sales Price* $0 $0 -- $0 $0 --

Percent of Original List Price Received* 0.0% 0.0% -- 0.0% 0.0% --

Days on Market Until Sale 0 0 -- 0 0 --

Inventory of Homes for Sale 0 0 0.0 -- -- --

Months Supply of Inventory 0.0 0.0 0.0 -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Stonewall County-- -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

Year to Date 2012 2013January 2012 2013

All MLS

Stonewall County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

0 00 0

New Listings Closed Sales----

0 00 0

New Listings Closed Sales----

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 46: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 2,248 2,267 + 0.8% 2,248 2,267 + 0.8%

Pending Sales 1,403 1,489 + 6.1% 1,403 1,489 + 6.1%

Closed Sales 1,046 1,130 + 8.0% 1,046 1,130 + 8.0%

Average Sales Price* $164,395 $165,848 + 0.9% $164,395 $165,848 + 0.9%

Median Sales Price* $130,000 $130,000 0.0% $130,000 $130,000 0.0%

Percent of Original List Price Received* 93.1% 93.4% + 0.4% 93.1% 93.4% + 0.4%

Days on Market Until Sale 85 73 - 14.5% 85 73 - 14.5%

Inventory of Homes for Sale 7,495 5,679 - 24.2% -- -- --

Months Supply of Inventory 5.0 3.3 - 33.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Tarrant County+ 0.8% + 8.0% 0.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2,248 2,267

Year to Date 2012 2013

2,248 2,267

January 2012 2013

All MLS

Tarrant County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1,046 1,130

New Listings Closed Sales+ 8.0%+ 0.8%

1,046 1,130

New Listings Closed Sales+ 8.0%+ 0.8%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 47: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 188 171 - 9.0% 188 171 - 9.0%

Pending Sales 123 105 - 14.6% 123 105 - 14.6%

Closed Sales 69 79 + 14.5% 69 79 + 14.5%

Average Sales Price* $130,087 $160,126 + 23.1% $130,087 $160,126 + 23.1%

Median Sales Price* $121,750 $146,000 + 19.9% $121,750 $146,000 + 19.9%

Percent of Original List Price Received* 92.8% 94.3% + 1.6% 92.8% 94.3% + 1.6%

Days on Market Until Sale 100 89 - 10.5% 100 89 - 10.5%

Inventory of Homes for Sale 649 543 - 16.3% -- -- --

Months Supply of Inventory 6.0 4.4 - 26.0% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Taylor County- 9.0% + 14.5% + 19.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

188171

Year to Date 2012 2013

188171

January 2012 2013

All MLS

Taylor County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 6%

- 4%

- 2%

0%

+ 2%

+ 4%

+ 6%

+ 8%

+ 10%

+ 12%

+ 14%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

69 79

New Listings Closed Sales+ 14.5%- 9.0%

69 79

New Listings Closed Sales+ 14.5%- 9.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 48: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 2 1 - 50.0% 2 1 - 50.0%

Pending Sales 2 0 - 100.0% 2 0 - 100.0%

Closed Sales 2 0 - 100.0% 2 0 - 100.0%

Average Sales Price* $34,420 $0 - 100.0% $34,420 $0 - 100.0%

Median Sales Price* $34,420 $0 - 100.0% $34,420 $0 - 100.0%

Percent of Original List Price Received* 66.9% 0.0% - 100.0% 66.9% 0.0% - 100.0%

Days on Market Until Sale 89 0 - 100.0% 89 0 - 100.0%

Inventory of Homes for Sale 11 5 - 54.5% -- -- --

Months Supply of Inventory 6.2 3.6 - 41.2% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Upshur County- 50.0% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2 2

Year to Date 2012 2013

2 2

January 2012 2013

All MLS

Upshur County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 100%

0%

+ 100%

+ 200%

+ 300%

+ 400%

+ 500%

+ 600%

+ 700%

+ 800%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

1

0

New Listings Closed Sales- 100.0%- 50.0%

1

0

New Listings Closed Sales- 100.0%- 50.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 49: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 66 62 - 6.1% 66 62 - 6.1%

Pending Sales 27 17 - 37.0% 27 17 - 37.0%

Closed Sales 18 19 + 5.6% 18 19 + 5.6%

Average Sales Price* $150,528 $139,605 - 7.3% $150,528 $139,605 - 7.3%

Median Sales Price* $134,750 $99,000 - 26.5% $134,750 $99,000 - 26.5%

Percent of Original List Price Received* 94.8% 89.5% - 5.7% 94.8% 89.5% - 5.7%

Days on Market Until Sale 188 148 - 21.1% 188 148 - 21.1%

Inventory of Homes for Sale 355 348 - 2.0% -- -- --

Months Supply of Inventory 15.4 14.1 - 8.6% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Van Zandt County- 6.1% + 5.6% - 26.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

66 62

Year to Date 2012 2013

66 62

January 2012 2013

All MLS

Van Zandt County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

18 19

New Listings Closed Sales+ 5.6%- 6.1%

18 19

New Listings Closed Sales+ 5.6%- 6.1%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 50: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 91 87 - 4.4% 91 87 - 4.4%

Pending Sales 44 38 - 13.6% 44 38 - 13.6%

Closed Sales 26 23 - 11.5% 26 23 - 11.5%

Average Sales Price* $163,120 $131,060 - 19.7% $163,120 $131,060 - 19.7%

Median Sales Price* $132,700 $105,000 - 20.9% $132,700 $105,000 - 20.9%

Percent of Original List Price Received* 82.9% 91.0% + 9.7% 82.9% 91.0% + 9.7%

Days on Market Until Sale 118 129 + 9.0% 118 129 + 9.0%

Inventory of Homes for Sale 459 386 - 15.9% -- -- --

Months Supply of Inventory 10.4 8.2 - 21.4% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Wise County- 4.4% - 11.5% - 20.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

91 87

Year to Date 2012 2013

91 87

January 2012 2013

All MLS

Wise County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 25%

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

26 23

New Listings Closed Sales- 11.5%- 4.4%

26 23

New Listings Closed Sales- 11.5%- 4.4%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 51: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 37 47 + 27.0% 37 47 + 27.0%

Pending Sales 13 16 + 23.1% 13 16 + 23.1%

Closed Sales 12 11 - 8.3% 12 11 - 8.3%

Average Sales Price* $87,958 $133,340 + 51.6% $87,958 $133,340 + 51.6%

Median Sales Price* $81,000 $95,000 + 17.3% $81,000 $95,000 + 17.3%

Percent of Original List Price Received* 92.6% 92.5% - 0.0% 92.6% 92.5% - 0.0%

Days on Market Until Sale 149 106 - 28.8% 149 106 - 28.8%

Inventory of Homes for Sale 203 220 + 8.4% -- -- --

Months Supply of Inventory 14.4 15.3 + 5.9% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Wood County+ 27.0% - 8.3% + 17.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

37

47

Year to Date 2012 2013

37

47

January 2012 2013

All MLS

Wood County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

37

12 11

New Listings Closed Sales- 8.3%+ 27.0%

37

12 11

New Listings Closed Sales- 8.3%+ 27.0%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.

Page 52: Local Market Updates - NTREISLocal Market Update – January 2013 Bosque County + 37.5% + 133.3% + 273.8% Change in New Listings Change in Closed Sales Change in Median Sales Price

A RESEARCH TOOL PROVIDED BY NORTH TEXAS REAL ESTATE INFORMATION SYSTEMS, INC.

2012 2013 + / – 2012 2013 + / –

New Listings 13 15 + 15.4% 13 15 + 15.4%

Pending Sales 4 2 - 50.0% 4 2 - 50.0%

Closed Sales 2 0 - 100.0% 2 0 - 100.0%

Average Sales Price* $134,450 $0 - 100.0% $134,450 $0 - 100.0%

Median Sales Price* $134,450 $0 - 100.0% $134,450 $0 - 100.0%

Percent of Original List Price Received* 96.2% 0.0% - 100.0% 96.2% 0.0% - 100.0%

Days on Market Until Sale 20 0 - 100.0% 20 0 - 100.0%

Inventory of Homes for Sale 33 48 + 45.5% -- -- --

Months Supply of Inventory 8.1 10.7 + 32.0% -- -- --*Does not include prices from any previous listing contracts or seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

Local Market Update – January 2013

Young County+ 15.4% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1315

Year to Date 2012 2013

1315

January 2012 2013

All MLS

Young County

*Each dot represents the change in median sales price from the prior year using a 6-month weighted average. This means that each of the 6 months used in a dot are proportioned according to their shareof sales during that period | All data comes from North Texas Real Estate Information Services Inc Powered by 10K Research and Marketing

- 60%

- 40%

- 20%

0%

+ 20%

+ 40%

+ 60%

+ 80%

+ 100%

+ 120%

+ 140%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013

Change in Median Sales Price from Prior Year (6-Month Average)** b

a

20

New Listings Closed Sales- 100.0%+ 15.4%

20

New Listings Closed Sales- 100.0%+ 15.4%

of sales during that period. | All data comes from North Texas Real Estate Information Services, Inc. Powered by 10K Research and Marketing.