This summarizes market statistics for the West Menlo Park single family home market for the period 1/1/09 through 8/31/09.

1. January 2009 – August 2009 West Menlo Park Market Trends & Statistics Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair

2. Coldwell Banker: Leading West Menlo Park Market Share Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

3. List Prices Falling & Sale Prices Rising = Much Greater Market Activity Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed. In Q1 of 2009, market activity was very slow because sellers had 2007 list price expectations and buyers had 2009 sale price expectations; there was a disconnect as evidenced by the trend lines In June of 2009, the trend lines intersect meaning that buyers and sellers are on the same page in terms of pricing expectations and thus activity increased significantly.

4. West Menlo: 3 month running average of list prices is falling Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

5. 3 Month Running Average of Price per Square Foot is Flat Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

6. 3 Month Running Average of Properties Sold is Rising Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

7. West Menlo: Active Inventory is Declining Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

8. West Menlo: Average List Price is Falling Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

9. West Menlo: Price per Square Foot is Flat to Rising Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

10. West Menlo: Average Sales Price is Generally Increasing Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

11. West Menlo: Days on Market is Generally Increasing Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

12. West Menlo: Months Supply is down from its early ‘09 peak Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

13. West Menlo: New Listings is Generally Flat Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.

14. West Menlo: Sold Listings is Increasing Billy McNair Broker Associate | Attorney | MBA McNair Group – Real Estate Advisors 650.862.3266 | billy@mcnairgroup.com | www.mcnairgroup.com | twitter.com/billymcnair Information presented is deemed reliable but not guaranteed.