local market updates - ntreislocal market update – january 2014 bosque county - 33.3% - 28.6% -...

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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 2014 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.

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Page 1: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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 2014

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 4 4 0.0% 4 4 0.0%

Pending Sales 0 0 -- 0 0 --

Closed Sales 1 1 0.0% 1 1 0.0%

Average Sales Price* $94,900 $173,900 + 83.2% $94,900 $173,900 + 83.2%

Median Sales Price* $94,900 $173,900 + 83.2% $94,900 $173,900 + 83.2%

Percent of Original List Price Received* 95.0% 92.1% - 3.0% 95.0% 92.1% - 3.0%

Days on Market Until Sale 3 109 + 3533.3% 3 109 + 3533.3%

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

Months Supply of Inventory 6.9 8.9 + 28.4% -- -- --*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 2014

Anderson County0.0% 0.0% + 83.2%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

January Year to Date

4 4

Year to Date 2013 2014

4 4

January 2013 2014

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 7-2013 1-2014

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

a

1 1

New Listings Closed Sales0.0%0.0%

1 1

New Listings Closed Sales0.0%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 3: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 24 16 - 33.3% 24 16 - 33.3%

Pending Sales 9 7 - 22.2% 9 7 - 22.2%

Closed Sales 7 5 - 28.6% 7 5 - 28.6%

Average Sales Price* $445,643 $94,000 - 78.9% $445,643 $94,000 - 78.9%

Median Sales Price* $157,000 $80,000 - 49.0% $157,000 $80,000 - 49.0%

Percent of Original List Price Received* 87.2% 93.8% + 7.6% 87.2% 93.8% + 7.6%

Days on Market Until Sale 249 123 - 50.8% 249 123 - 50.8%

Inventory of Homes for Sale 138 128 - 7.2% -- -- --

Months Supply of Inventory 21.5 18.7 - 12.9% -- -- --*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 2014

Bosque County- 33.3% - 28.6% - 49.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

24

Year to Date 2013 2014

24

January 2013 2014

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 7-2013 1-2014

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

a

7

16

5

New Listings Closed Sales- 28.6%- 33.3%

7

16

5

New Listings Closed Sales- 28.6%- 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 4: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 58 69 + 19.0% 58 69 + 19.0%

Pending Sales 33 21 - 36.4% 33 21 - 36.4%

Closed Sales 21 19 - 9.5% 21 19 - 9.5%

Average Sales Price* $111,028 $150,112 + 35.2% $111,028 $150,112 + 35.2%

Median Sales Price* $102,820 $84,000 - 18.3% $102,820 $84,000 - 18.3%

Percent of Original List Price Received* 83.2% 87.0% + 4.6% 83.2% 87.0% + 4.6%

Days on Market Until Sale 192 145 - 24.6% 192 145 - 24.6%

Inventory of Homes for Sale 339 326 - 3.8% -- -- --

Months Supply of Inventory 10.8 11.7 + 8.3% -- -- --

Local Market Update – January 2014

Brown County+ 19.0% - 9.5% - 18.3%

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.

5869

Year to Date 2013 2014

5869

January 2013 2014

*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

- 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 7-2013 1-2014

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

a

58

21 19

New Listings Closed Sales- 9.5%+ 19.0%

58

21 19

New Listings Closed Sales- 9.5%+ 19.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 8 11 + 37.5% 8 11 + 37.5%

Pending Sales 8 8 0.0% 8 8 0.0%

Closed Sales 5 5 0.0% 5 5 0.0%

Average Sales Price* $147,880 $145,035 - 1.9% $147,880 $145,035 - 1.9%

Median Sales Price* $140,000 $165,000 + 17.9% $140,000 $165,000 + 17.9%

Percent of Original List Price Received* 96.9% 90.4% - 6.8% 96.9% 90.4% - 6.8%

Days on Market Until Sale 79 64 - 19.1% 79 64 - 19.1%

Inventory of Homes for Sale 63 57 - 9.5% -- -- --

Months Supply of Inventory 8.8 5.9 - 32.9% -- -- --*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 2014

Callahan County+ 37.5% 0.0% + 17.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

11

Year to Date 2013 2014

11

January 2013 2014

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 7-2013 1-2014

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

a

8

5 5

New Listings Closed Sales0.0%+ 37.5%

8

5 5

New Listings Closed Sales0.0%+ 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 6: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 1 0 - 100.0% 1 0 - 100.0%

Pending Sales 0 1 -- 0 1 --

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 8 3 - 62.5% -- -- --

Months Supply of Inventory 8.0 3.0 - 62.5% -- -- --*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 2014

Clay County- 100.0% -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1

Year to Date 2013 2014

1

January 2013 2014

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

- 150%

- 100%

- 50%

0%

+ 50%

+ 100%

+ 150%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

00 0

New Listings Closed Sales--- 100.0%

00 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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 10 15 + 50.0% 10 15 + 50.0%

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

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

Average Sales Price* $24,500 $0 - 100.0% $24,500 $0 - 100.0%

Median Sales Price* $24,500 $0 - 100.0% $24,500 $0 - 100.0%

Percent of Original List Price Received* 80.4% 0.0% - 100.0% 80.4% 0.0% - 100.0%

Days on Market Until Sale 124 0 - 100.0% 124 0 - 100.0%

Inventory of Homes for Sale 78 62 - 20.5% -- -- --

Months Supply of Inventory 20.9 16.2 - 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 2014

Coleman County+ 50.0% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

15

Year to Date 2013 2014

15

January 2013 2014

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%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

10

3

0

New Listings Closed Sales- 100.0%+ 50.0%

10

3

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 8: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 1,234 1,275 + 3.3% 1,234 1,275 + 3.3%

Pending Sales 991 900 - 9.2% 991 900 - 9.2%

Closed Sales 749 686 - 8.4% 749 686 - 8.4%

Average Sales Price* $247,589 $255,223 + 3.1% $247,589 $255,223 + 3.1%

Median Sales Price* $210,000 $220,000 + 4.8% $210,000 $220,000 + 4.8%

Percent of Original List Price Received* 94.5% 96.0% + 1.6% 94.5% 96.0% + 1.6%

Days on Market Until Sale 63 46 - 26.1% 63 46 - 26.1%

Inventory of Homes for Sale 2,578 2,085 - 19.1% -- -- --

Months Supply of Inventory 2.4 1.6 - 31.1% -- -- --*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 2014

Collin County+ 3.3% - 8.4% + 4.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1,234 1,275

Year to Date 2013 2014

1,234 1,275

January 2013 2014

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%

+ 12%

+ 14%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

749 686

New Listings Closed Sales- 8.4%+ 3.3%

749 686

New Listings Closed Sales- 8.4%+ 3.3%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 13 12 - 7.7% 13 12 - 7.7%

Pending Sales 6 6 0.0% 6 6 0.0%

Closed Sales 2 4 + 100.0% 2 4 + 100.0%

Average Sales Price* $87,000 $92,238 + 6.0% $87,000 $92,238 + 6.0%

Median Sales Price* $87,000 $82,455 - 5.2% $87,000 $82,455 - 5.2%

Percent of Original List Price Received* 82.5% 89.1% + 8.0% 82.5% 89.1% + 8.0%

Days on Market Until Sale 91 271 + 199.2% 91 271 + 199.2%

Inventory of Homes for Sale 119 103 - 13.4% -- -- --

Months Supply of Inventory 21.6 13.9 - 35.8% -- -- --*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 2014

Comanche County- 7.7% + 100.0% - 5.2%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

13 12

Year to Date 2013 2014

13 12

January 2013 2014

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

- 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 7-2013 1-2014

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

a

24

New Listings Closed Sales+ 100.0%- 7.7%

24

New Listings Closed Sales+ 100.0%- 7.7%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 56 65 + 16.1% 56 65 + 16.1%

Pending Sales 22 29 + 31.8% 22 29 + 31.8%

Closed Sales 20 25 + 25.0% 20 25 + 25.0%

Average Sales Price* $141,540 $141,308 - 0.2% $141,540 $141,308 - 0.2%

Median Sales Price* $101,500 $128,000 + 26.1% $101,500 $128,000 + 26.1%

Percent of Original List Price Received* 90.4% 93.7% + 3.6% 90.4% 93.7% + 3.6%

Days on Market Until Sale 148 84 - 43.3% 148 84 - 43.3%

Inventory of Homes for Sale 257 247 - 3.9% -- -- --

Months Supply of Inventory 8.1 7.7 - 4.1% -- -- --*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 2014

Cooke County+ 16.1% + 25.0% + 26.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

5665

Year to Date 2013 2014

5665

January 2013 2014

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

- 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 7-2013 1-2014

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

a

56

20 25

New Listings Closed Sales+ 25.0%+ 16.1%

20 25

New Listings Closed Sales+ 25.0%+ 16.1%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 2,393 2,264 - 5.4% 2,393 2,264 - 5.4%

Pending Sales 1,704 1,563 - 8.3% 1,704 1,563 - 8.3%

Closed Sales 1,315 1,164 - 11.5% 1,315 1,164 - 11.5%

Average Sales Price* $193,906 $236,505 + 22.0% $193,906 $236,505 + 22.0%

Median Sales Price* $122,500 $154,300 + 26.0% $122,500 $154,300 + 26.0%

Percent of Original List Price Received* 92.9% 94.0% + 1.3% 92.9% 94.0% + 1.3%

Days on Market Until Sale 70 57 - 18.4% 70 57 - 18.4%

Inventory of Homes for Sale 5,921 4,625 - 21.9% -- -- --

Months Supply of Inventory 3.3 2.4 - 29.0% -- -- --*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 2014

Dallas County- 5.4% - 11.5% + 26.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2,393 2 264

Year to Date 2013 2014

2,393 2 264

January 2013 2014

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%

+ 25%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

2,393

1,315

2,264

1,164

New Listings Closed Sales- 11.5%- 5.4%

,393

1,315

2,264

1,164

New Listings Closed Sales- 11.5%- 5.4%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 5 12 + 140.0% 5 12 + 140.0%

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

Closed Sales 0 1 -- 0 1 --

Average Sales Price* $0 $30,000 -- $0 $30,000 --

Median Sales Price* $0 $30,000 -- $0 $30,000 --

Percent of Original List Price Received* 0.0% 75.0% -- 0.0% 75.0% --

Days on Market Until Sale 0 157 -- 0 157 --

Inventory of Homes for Sale 42 44 + 4.8% -- -- --

Months Supply of Inventory 12.5 12.8 + 2.3% -- -- --*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 2014

Delta County+ 140.0% -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

12

Year to Date 2013 2014

12

January 2013 2014

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%

+ 300%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

5

0 1

New Listings Closed Sales--+ 140.0%

5

0 1

New Listings Closed Sales--+ 140.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 1,129 1,124 - 0.4% 1,129 1,124 - 0.4%

Pending Sales 833 768 - 7.8% 833 768 - 7.8%

Closed Sales 681 555 - 18.5% 681 555 - 18.5%

Average Sales Price* $220,107 $240,393 + 9.2% $220,107 $240,393 + 9.2%

Median Sales Price* $184,900 $199,192 + 7.7% $184,900 $199,192 + 7.7%

Percent of Original List Price Received* 94.7% 95.6% + 1.0% 94.7% 95.6% + 1.0%

Days on Market Until Sale 68 56 - 17.2% 68 56 - 17.2%

Inventory of Homes for Sale 2,575 2,077 - 19.3% -- -- --

Months Supply of Inventory 2.8 1.9 - 31.0% -- -- --*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 2014

Denton County- 0.4% - 18.5% + 7.7%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1,129 1,124

Year to Date 2013 2014

1,129 1,124

January 2013 2014

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%

+ 12%

+ 14%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

681555

New Listings Closed Sales- 18.5%- 0.4%

681555

New Listings Closed Sales- 18.5%- 0.4%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 17 23 + 35.3% 17 23 + 35.3%

Pending Sales 7 10 + 42.9% 7 10 + 42.9%

Closed Sales 9 10 + 11.1% 9 10 + 11.1%

Average Sales Price* $73,000 $77,190 + 5.7% $73,000 $77,190 + 5.7%

Median Sales Price* $57,500 $67,500 + 17.4% $57,500 $67,500 + 17.4%

Percent of Original List Price Received* 87.4% 84.1% - 3.8% 87.4% 84.1% - 3.8%

Days on Market Until Sale 193 203 + 4.8% 193 203 + 4.8%

Inventory of Homes for Sale 138 139 + 0.7% -- -- --

Months Supply of Inventory 17.6 14.4 - 18.4% -- -- --*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 2014

Eastland County+ 35.3% + 11.1% + 17.4%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

23

Year to Date 2013 2014

23

January 2013 2014

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

- 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 7-2013 1-2014

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

a

17

9 10

New Listings Closed Sales+ 11.1%+ 35.3%

17

9 10

New Listings Closed Sales+ 11.1%+ 35.3%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 243 200 - 17.7% 243 200 - 17.7%

Pending Sales 126 121 - 4.0% 126 121 - 4.0%

Closed Sales 109 115 + 5.5% 109 115 + 5.5%

Average Sales Price* $161,785 $165,440 + 2.3% $161,785 $165,440 + 2.3%

Median Sales Price* $137,000 $155,000 + 13.1% $137,000 $155,000 + 13.1%

Percent of Original List Price Received* 94.6% 93.8% - 0.8% 94.6% 93.8% - 0.8%

Days on Market Until Sale 85 75 - 11.7% 85 75 - 11.7%

Inventory of Homes for Sale 739 648 - 12.3% -- -- --

Months Supply of Inventory 5.4 4.2 - 22.5% -- -- --*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 2014

Ellis County- 17.7% + 5.5% + 13.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

243

Year to Date 2013 2014

243

January 2013 2014

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

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

109

200

115

New Listings Closed Sales+ 5.5%- 17.7%

109

200

115

New Listings Closed Sales+ 5.5%- 17.7%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 61 46 - 24.6% 61 46 - 24.6%

Pending Sales 24 22 - 8.3% 24 22 - 8.3%

Closed Sales 21 21 0.0% 21 21 0.0%

Average Sales Price* $90,837 $166,315 + 83.1% $90,837 $166,315 + 83.1%

Median Sales Price* $80,000 $75,800 - 5.3% $80,000 $75,800 - 5.3%

Percent of Original List Price Received* 88.6% 82.6% - 6.8% 88.6% 82.6% - 6.8%

Days on Market Until Sale 63 142 + 127.3% 63 142 + 127.3%

Inventory of Homes for Sale 332 248 - 25.3% -- -- --

Months Supply of Inventory 11.1 6.7 - 39.2% -- -- --*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 2014

Erath County- 24.6% 0.0% - 5.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

61

Year to Date 2013 2014

61

January 2013 2014

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 7-2013 1-2014

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

a

21

46

21

New Listings Closed Sales0.0%- 24.6%

21

46

21

New Listings Closed Sales0.0%- 24.6%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 47 38 - 19.1% 47 38 - 19.1%

Pending Sales 26 15 - 42.3% 26 15 - 42.3%

Closed Sales 16 24 + 50.0% 16 24 + 50.0%

Average Sales Price* $82,215 $86,525 + 5.2% $82,215 $86,525 + 5.2%

Median Sales Price* $47,500 $64,500 + 35.8% $47,500 $64,500 + 35.8%

Percent of Original List Price Received* 88.9% 93.7% + 5.4% 88.9% 93.7% + 5.4%

Days on Market Until Sale 58 91 + 57.7% 58 91 + 57.7%

Inventory of Homes for Sale 228 184 - 19.3% -- -- --

Months Supply of Inventory 10.2 7.3 - 28.4% -- -- --*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 2014

Fannin County- 19.1% + 50.0% + 35.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

4738

Year to Date 2013 2014

4738

January 2013 2014

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

- 40%

- 30%

- 20%

- 10%

0%

+ 10%

+ 20%

+ 30%

+ 40%

+ 50%

+ 60%

+ 70%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

16

38

24

New Listings Closed Sales+ 50.0%- 19.1%

16

38

24

New Listings Closed Sales+ 50.0%- 19.1%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 9 7 - 22.2% 9 7 - 22.2%

Pending Sales 2 5 + 150.0% 2 5 + 150.0%

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

Average Sales Price* $422,500 $173,635 - 58.9% $422,500 $173,635 - 58.9%

Median Sales Price* $422,500 $183,500 - 56.6% $422,500 $183,500 - 56.6%

Percent of Original List Price Received* 85.9% 81.8% - 4.7% 85.9% 81.8% - 4.7%

Days on Market Until Sale 79 172 + 118.1% 79 172 + 118.1%

Inventory of Homes for Sale 53 43 - 18.9% -- -- --

Months Supply of Inventory 17.7 15.2 - 14.1% -- -- --*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 2014

Franklin County- 22.2% + 50.0% - 56.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

9

Year to Date 2013 2014

9

January 2013 2014

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%

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 7-2013 1-2014

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

a

2

7

3

New Listings Closed Sales+ 50.0%- 22.2%

2

7

3

New Listings Closed Sales+ 50.0%- 22.2%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 15 14 - 6.7% 15 14 - 6.7%

Pending Sales 14 8 - 42.9% 14 8 - 42.9%

Closed Sales 6 3 - 50.0% 6 3 - 50.0%

Average Sales Price* $95,092 $194,333 + 104.4% $95,092 $194,333 + 104.4%

Median Sales Price* $86,525 $198,000 + 128.8% $86,525 $198,000 + 128.8%

Percent of Original List Price Received* 91.9% 83.3% - 9.3% 91.9% 83.3% - 9.3%

Days on Market Until Sale 109 352 + 221.6% 109 352 + 221.6%

Inventory of Homes for Sale 89 81 - 9.0% -- -- --

Months Supply of Inventory 11.4 12.2 + 6.9% -- -- --*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 2014

Freestone County- 6.7% - 50.0% + 128.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

15 14

Year to Date 2013 2014

15 14

January 2013 2014

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 7-2013 1-2014

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

a

6

3

New Listings Closed Sales- 50.0%- 6.7%

6

3

New Listings Closed Sales- 50.0%- 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 20: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 201 203 + 1.0% 201 203 + 1.0%

Pending Sales 85 89 + 4.7% 85 89 + 4.7%

Closed Sales 74 80 + 8.1% 74 80 + 8.1%

Average Sales Price* $109,307 $132,505 + 21.2% $109,307 $132,505 + 21.2%

Median Sales Price* $89,450 $82,523 - 7.7% $89,450 $82,523 - 7.7%

Percent of Original List Price Received* 91.6% 91.6% + 0.0% 91.6% 91.6% + 0.0%

Days on Market Until Sale 84 100 + 18.7% 84 100 + 18.7%

Inventory of Homes for Sale 852 758 - 11.0% -- -- --

Months Supply of Inventory 8.5 6.8 - 20.9% -- -- --*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 2014

Grayson County+ 1.0% + 8.1% - 7.7%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

201 203

Year to Date 2013 2014

201 203

January 2013 2014

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 7-2013 1-2014

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

a

74 80

New Listings Closed Sales+ 8.1%+ 1.0%

74 80

New Listings Closed Sales+ 8.1%+ 1.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 6 5 - 16.7% 6 5 - 16.7%

Pending Sales 5 1 - 80.0% 5 1 - 80.0%

Closed Sales 3 1 - 66.7% 3 1 - 66.7%

Average Sales Price* $129,767 $30,000 - 76.9% $129,767 $30,000 - 76.9%

Median Sales Price* $139,900 $30,000 - 78.6% $139,900 $30,000 - 78.6%

Percent of Original List Price Received* 84.7% 86.0% + 1.5% 84.7% 86.0% + 1.5%

Days on Market Until Sale 312 165 - 47.1% 312 165 - 47.1%

Inventory of Homes for Sale 82 69 - 15.9% -- -- --

Months Supply of Inventory 28.2 22.3 - 21.0% -- -- --*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 2014

Hamilton County- 16.7% - 66.7% - 78.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

65

Year to Date 2013 2014

65

January 2013 2014

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

- 200%

- 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 7-2013 1-2014

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

a

3

5

1

New Listings Closed Sales- 66.7%- 16.7%

3

5

1

New Listings Closed Sales- 66.7%- 16.7%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 0 1 -- 0 1 --

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 3 1 - 66.7% -- -- --

Months Supply of Inventory 3.0 0.8 - 75.0% -- -- --*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 2014

Harrison County-- -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1

Year to Date 2013 2014

1

January 2013 2014

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

- 60%

- 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 7-2013 1-2014

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

a

0 0 0

New Listings Closed Sales----

0 0 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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 82 112 + 36.6% 82 112 + 36.6%

Pending Sales 30 36 + 20.0% 30 36 + 20.0%

Closed Sales 18 21 + 16.7% 18 21 + 16.7%

Average Sales Price* $176,526 $129,798 - 26.5% $176,526 $129,798 - 26.5%

Median Sales Price* $112,575 $85,000 - 24.5% $112,575 $85,000 - 24.5%

Percent of Original List Price Received* 90.1% 87.6% - 2.8% 90.1% 87.6% - 2.8%

Days on Market Until Sale 157 183 + 16.4% 157 183 + 16.4%

Inventory of Homes for Sale 486 440 - 9.5% -- -- --

Months Supply of Inventory 16.2 13.1 - 19.1% -- -- --*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 2014

Henderson County

+ 36.6% + 16.7% - 24.5%Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

January Year to Date

112

Year to Date 2013 2014

112

January 2013 2014

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 7-2013 1-2014

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

a

82

18 21

New Listings Closed Sales+ 16.7%+ 36.6%

82

18 21

New Listings Closed Sales+ 16.7%+ 36.6%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 54 49 - 9.3% 54 49 - 9.3%

Pending Sales 9 10 + 11.1% 9 10 + 11.1%

Closed Sales 8 14 + 75.0% 8 14 + 75.0%

Average Sales Price* $95,875 $105,602 + 10.1% $95,875 $105,602 + 10.1%

Median Sales Price* $101,750 $72,000 - 29.2% $101,750 $72,000 - 29.2%

Percent of Original List Price Received* 96.1% 86.5% - 9.9% 96.1% 86.5% - 9.9%

Days on Market Until Sale 120 114 - 4.8% 120 114 - 4.8%

Inventory of Homes for Sale 313 284 - 9.3% -- -- --

Months Supply of Inventory 16.1 13.6 - 15.1% -- -- --*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 2014

Hill County- 9.3% + 75.0% - 29.2%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

5449

Year to Date 2013 2014

5449

January 2013 2014

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%

+ 40%

+ 50%

+ 60%

+ 70%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

814

New Listings Closed Sales+ 75.0%- 9.3%

814

New Listings Closed Sales+ 75.0%- 9.3%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 125 134 + 7.2% 125 134 + 7.2%

Pending Sales 63 56 - 11.1% 63 56 - 11.1%

Closed Sales 56 43 - 23.2% 56 43 - 23.2%

Average Sales Price* $180,688 $172,667 - 4.4% $180,688 $172,667 - 4.4%

Median Sales Price* $162,250 $163,000 + 0.5% $162,250 $163,000 + 0.5%

Percent of Original List Price Received* 92.1% 94.9% + 3.1% 92.1% 94.9% + 3.1%

Days on Market Until Sale 124 88 - 29.3% 124 88 - 29.3%

Inventory of Homes for Sale 606 529 - 12.7% -- -- --

Months Supply of Inventory 8.9 7.4 - 17.6% -- -- --*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 2014

Hood County+ 7.2% - 23.2% + 0.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

125 134

Year to Date 2013 2014

125 134

January 2013 2014

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

- 20%

- 15%

- 10%

- 5%

0%

+ 5%

+ 10%

+ 15%

+ 20%

+ 25%

+ 30%

+ 35%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

125

5643

New Listings Closed Sales- 23.2%+ 7.2%

125

5643

New Listings Closed Sales- 23.2%+ 7.2%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 45 38 - 15.6% 45 38 - 15.6%

Pending Sales 18 24 + 33.3% 18 24 + 33.3%

Closed Sales 20 16 - 20.0% 20 16 - 20.0%

Average Sales Price* $128,742 $116,675 - 9.4% $128,742 $116,675 - 9.4%

Median Sales Price* $82,500 $78,500 - 4.8% $82,500 $78,500 - 4.8%

Percent of Original List Price Received* 82.1% 90.6% + 10.3% 82.1% 90.6% + 10.3%

Days on Market Until Sale 87 103 + 18.2% 87 103 + 18.2%

Inventory of Homes for Sale 209 160 - 23.4% -- -- --

Months Supply of Inventory 9.5 6.6 - 30.8% -- -- --*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 2014

Hopkins County- 15.6% - 20.0% - 4.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

4538

Year to Date 2013 2014

4538

January 2013 2014

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

- 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 7-2013 1-2014

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

a

20

38

16

New Listings Closed Sales- 20.0%- 15.6%

20

38

16

New Listings Closed Sales- 20.0%- 15.6%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 128 136 + 6.3% 128 136 + 6.3%

Pending Sales 64 67 + 4.7% 64 67 + 4.7%

Closed Sales 42 49 + 16.7% 42 49 + 16.7%

Average Sales Price* $109,415 $124,994 + 14.2% $109,415 $124,994 + 14.2%

Median Sales Price* $96,326 $99,000 + 2.8% $96,326 $99,000 + 2.8%

Percent of Original List Price Received* 92.7% 92.9% + 0.2% 92.7% 92.9% + 0.2%

Days on Market Until Sale 85 80 - 5.6% 85 80 - 5.6%

Inventory of Homes for Sale 516 414 - 19.8% -- -- --

Months Supply of Inventory 8.0 5.9 - 26.9% -- -- --*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 2014

Hunt County+ 6.3% + 16.7% + 2.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

128 136

Year to Date 2013 2014

128 136

January 2013 2014

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 7-2013 1-2014

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

a

8

42 49

New Listings Closed Sales+ 16.7%+ 6.3%

42 49

New Listings Closed Sales+ 16.7%+ 6.3%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 4 3 - 25.0% 4 3 - 25.0%

Pending Sales 3 2 - 33.3% 3 2 - 33.3%

Closed Sales 0 2 -- 0 2 --

Average Sales Price* $0 $283,823 -- $0 $283,823 --

Median Sales Price* $0 $283,823 -- $0 $283,823 --

Percent of Original List Price Received* 0.0% 83.0% -- 0.0% 83.0% --

Days on Market Until Sale 0 153 -- 0 153 --

Inventory of Homes for Sale 25 17 - 32.0% -- -- --

Months Supply of Inventory 10.0 9.4 - 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 2014

Jack County- 25.0% -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

4

Year to Date 2013 2014

4

January 2013 2014

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 7-2013 1-2014

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

a

0

3

2

New Listings Closed Sales--- 25.0%

0

3

2

New Listings Closed Sales--- 25.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 214 215 + 0.5% 214 215 + 0.5%

Pending Sales 137 153 + 11.7% 137 153 + 11.7%

Closed Sales 103 118 + 14.6% 103 118 + 14.6%

Average Sales Price* $127,436 $137,832 + 8.2% $127,436 $137,832 + 8.2%

Median Sales Price* $114,094 $114,625 + 0.5% $114,094 $114,625 + 0.5%

Percent of Original List Price Received* 91.3% 93.5% + 2.5% 91.3% 93.5% + 2.5%

Days on Market Until Sale 101 77 - 23.3% 101 77 - 23.3%

Inventory of Homes for Sale 716 633 - 11.6% -- -- --

Months Supply of Inventory 5.4 4.2 - 21.1% -- -- --*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 2014

Johnson County+ 0.5% + 14.6% + 0.5%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

214 215

Year to Date 2013 2014

214 215

January 2013 2014

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%

+ 25%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

103 118

New Listings Closed Sales+ 14.6%+ 0.5%

103 118

New Listings Closed Sales+ 14.6%+ 0.5%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 14 9 - 35.7% 14 9 - 35.7%

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

Closed Sales 9 7 - 22.2% 9 7 - 22.2%

Average Sales Price* $73,267 $112,757 + 53.9% $73,267 $112,757 + 53.9%

Median Sales Price* $65,000 $112,000 + 72.3% $65,000 $112,000 + 72.3%

Percent of Original List Price Received* 87.7% 92.2% + 5.1% 87.7% 92.2% + 5.1%

Days on Market Until Sale 66 71 + 8.6% 66 71 + 8.6%

Inventory of Homes for Sale 59 48 - 18.6% -- -- --

Months Supply of Inventory 10.1 6.1 - 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 2014

Jones County- 35.7% - 22.2% + 72.3%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

14

Year to Date 2013 2014

14

January 2013 2014

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%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

997

New Listings Closed Sales- 22.2%- 35.7%

997

New Listings Closed Sales- 22.2%- 35.7%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 168 198 + 17.9% 168 198 + 17.9%

Pending Sales 131 131 0.0% 131 131 0.0%

Closed Sales 102 105 + 2.9% 102 105 + 2.9%

Average Sales Price* $138,648 $154,102 + 11.1% $138,648 $154,102 + 11.1%

Median Sales Price* $132,450 $150,500 + 13.6% $132,450 $150,500 + 13.6%

Percent of Original List Price Received* 91.0% 94.3% + 3.5% 91.0% 94.3% + 3.5%

Days on Market Until Sale 75 77 + 3.4% 75 77 + 3.4%

Inventory of Homes for Sale 651 537 - 17.5% -- -- --

Months Supply of Inventory 5.8 4.0 - 31.0% -- -- --*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 2014

Kaufman County+ 17.9% + 2.9% + 13.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

198

Year to Date 2013 2014

198

January 2013 2014

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 7-2013 1-2014

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

a

168

102

198

105

New Listings Closed Sales+ 2.9%+ 17.9%

168

102

198

105

New Listings Closed Sales+ 2.9%+ 17.9%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 23 16 - 30.4% 23 16 - 30.4%

Pending Sales 10 7 - 30.0% 10 7 - 30.0%

Closed Sales 10 8 - 20.0% 10 8 - 20.0%

Average Sales Price* $117,748 $249,113 + 111.6% $117,748 $249,113 + 111.6%

Median Sales Price* $101,091 $146,950 + 45.4% $101,091 $146,950 + 45.4%

Percent of Original List Price Received* 91.8% 91.9% + 0.1% 91.8% 91.9% + 0.1%

Days on Market Until Sale 67 122 + 83.5% 67 122 + 83.5%

Inventory of Homes for Sale 115 99 - 13.9% -- -- --

Months Supply of Inventory 11.0 9.5 - 13.9% -- -- --*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 2014

Lamar County- 30.4% - 20.0% + 45.4%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

23

Year to Date 2013 2014

23

January 2013 2014

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 7-2013 1-2014

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

a

10

16

8

New Listings Closed Sales- 20.0%- 30.4%

10

16

8

New Listings Closed Sales- 20.0%- 30.4%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 3 2 - 33.3% 3 2 - 33.3%

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

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

Average Sales Price* $65,000 $0 - 100.0% $65,000 $0 - 100.0%

Median Sales Price* $65,000 $0 - 100.0% $65,000 $0 - 100.0%

Percent of Original List Price Received* 93.0% 0.0% - 100.0% 93.0% 0.0% - 100.0%

Days on Market Until Sale 42 0 - 100.0% 42 0 - 100.0%

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

Months Supply of Inventory 11.6 11.6 + 0.6% -- -- --*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 2014

Limestone County- 33.3% - 100.0% - 100.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

3

Year to Date 2013 2014

3

January 2013 2014

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

- 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 7-2013 1-2014

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

a

1

2

0

New Listings Closed Sales- 100.0%- 33.3%

1

2

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 34: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 20 16 - 20.0% 20 16 - 20.0%

Pending Sales 9 5 - 44.4% 9 5 - 44.4%

Closed Sales 11 8 - 27.3% 11 8 - 27.3%

Average Sales Price* $109,820 $140,256 + 27.7% $109,820 $140,256 + 27.7%

Median Sales Price* $68,000 $106,000 + 55.9% $68,000 $106,000 + 55.9%

Percent of Original List Price Received* 90.9% 89.1% - 2.0% 90.9% 89.1% - 2.0%

Days on Market Until Sale 92 89 - 2.9% 92 89 - 2.9%

Inventory of Homes for Sale 192 170 - 11.5% -- -- --

Months Supply of Inventory 19.2 15.5 - 19.5% -- -- --*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 2014

Montague County- 20.0% - 27.3% + 55.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

20

Year to Date 2013 2014

20

January 2013 2014

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%

+ 700%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

0

11

16

8

New Listings Closed Sales- 27.3%- 20.0%

11

16

8

New Listings Closed Sales- 27.3%- 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 35: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 57 53 - 7.0% 57 53 - 7.0%

Pending Sales 22 23 + 4.5% 22 23 + 4.5%

Closed Sales 28 21 - 25.0% 28 21 - 25.0%

Average Sales Price* $147,834 $160,734 + 8.7% $147,834 $160,734 + 8.7%

Median Sales Price* $99,750 $117,500 + 17.8% $99,750 $117,500 + 17.8%

Percent of Original List Price Received* 90.2% 90.8% + 0.6% 90.2% 90.8% + 0.6%

Days on Market Until Sale 98 98 + 0.3% 98 98 + 0.3%

Inventory of Homes for Sale 283 220 - 22.3% -- -- --

Months Supply of Inventory 9.7 7.8 - 20.2% -- -- --*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 2014

Navarro County- 7.0% - 25.0% + 17.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

57 53

Year to Date 2013 2014

57 53

January 2013 2014

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%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

2821

New Listings Closed Sales- 25.0%- 7.0%

2821

New Listings Closed Sales- 25.0%- 7.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 2 6 + 200.0% 2 6 + 200.0%

Pending Sales 1 1 0.0% 1 1 0.0%

Closed Sales 0 2 -- 0 2 --

Average Sales Price* $0 $81,650 -- $0 $81,650 --

Median Sales Price* $0 $81,650 -- $0 $81,650 --

Percent of Original List Price Received* 0.0% 91.8% -- 0.0% 91.8% --

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

Inventory of Homes for Sale 10 18 + 80.0% -- -- --

Months Supply of Inventory 5.8 11.3 + 92.9% -- -- --*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 2014

Nolan County+ 200.0% -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

6

Year to Date 2013 2014

6

January 2013 2014

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 7-2013 1-2014

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

a

2

0

2

New Listings Closed Sales--+ 200.0%

2

0

2

New Listings Closed Sales--+ 200.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 75 63 - 16.0% 75 63 - 16.0%

Pending Sales 23 12 - 47.8% 23 12 - 47.8%

Closed Sales 10 9 - 10.0% 10 9 - 10.0%

Average Sales Price* $338,800 $217,917 - 35.7% $338,800 $217,917 - 35.7%

Median Sales Price* $129,750 $75,000 - 42.2% $129,750 $75,000 - 42.2%

Percent of Original List Price Received* 83.8% 85.0% + 1.5% 83.8% 85.0% + 1.5%

Days on Market Until Sale 246 179 - 27.1% 246 179 - 27.1%

Inventory of Homes for Sale 360 354 - 1.7% -- -- --

Months Supply of Inventory 17.1 16.3 - 4.3% -- -- --*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 2014

Palo Pinto County- 16.0% - 10.0% - 42.2%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

7563

Year to Date 2013 2014

7563

January 2013 2014

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%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

10

63

9

New Listings Closed Sales- 10.0%- 16.0%

10

63

9

New Listings Closed Sales- 10.0%- 16.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 216 214 - 0.9% 216 214 - 0.9%

Pending Sales 133 102 - 23.3% 133 102 - 23.3%

Closed Sales 109 77 - 29.4% 109 77 - 29.4%

Average Sales Price* $187,701 $223,544 + 19.1% $187,701 $223,544 + 19.1%

Median Sales Price* $165,000 $178,000 + 7.9% $165,000 $178,000 + 7.9%

Percent of Original List Price Received* 93.6% 93.2% - 0.5% 93.6% 93.2% - 0.5%

Days on Market Until Sale 96 101 + 4.8% 96 101 + 4.8%

Inventory of Homes for Sale 862 744 - 13.7% -- -- --

Months Supply of Inventory 6.7 4.8 - 28.7% -- -- --*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 2014

Parker County- 0.9% - 29.4% + 7.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

216 214

Year to Date 2013 2014

216 214

January 2013 2014

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%

- 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 7-2013 1-2014

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

a

10977

New Listings Closed Sales- 29.4%- 0.9%

10977

New Listings Closed Sales- 29.4%- 0.9%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 13 11 - 15.4% 13 11 - 15.4%

Pending Sales 12 8 - 33.3% 12 8 - 33.3%

Closed Sales 4 5 + 25.0% 4 5 + 25.0%

Average Sales Price* $111,000 $170,320 + 53.4% $111,000 $170,320 + 53.4%

Median Sales Price* $89,000 $115,000 + 29.2% $89,000 $115,000 + 29.2%

Percent of Original List Price Received* 91.8% 86.1% - 6.1% 91.8% 86.1% - 6.1%

Days on Market Until Sale 206 109 - 47.2% 206 109 - 47.2%

Inventory of Homes for Sale 113 74 - 34.5% -- -- --

Months Supply of Inventory 19.9 8.5 - 57.2% -- -- --*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 2014

Rains County- 15.4% + 25.0% + 29.2%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1311

Year to Date 2013 2014

1311

January 2013 2014

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%

+ 100%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

4

11

5

New Listings Closed Sales+ 25.0%- 15.4%

4

11

5

New Listings Closed Sales+ 25.0%- 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 40: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 175 189 + 8.0% 175 189 + 8.0%

Pending Sales 129 116 - 10.1% 129 116 - 10.1%

Closed Sales 110 94 - 14.5% 110 94 - 14.5%

Average Sales Price* $203,753 $208,532 + 2.3% $203,753 $208,532 + 2.3%

Median Sales Price* $169,950 $186,500 + 9.7% $169,950 $186,500 + 9.7%

Percent of Original List Price Received* 91.8% 94.1% + 2.6% 91.8% 94.1% + 2.6%

Days on Market Until Sale 87 64 - 25.9% 87 64 - 25.9%

Inventory of Homes for Sale 536 450 - 16.0% -- -- --

Months Supply of Inventory 4.4 2.9 - 33.8% -- -- --*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 2014

Rockwall County+ 8.0% - 14.5% + 9.7%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

175 189

Year to Date 2013 2014

175 189

January 2013 2014

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%

+ 12%

+ 14%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

11094

New Listings Closed Sales- 14.5%+ 8.0%

11094

New Listings Closed Sales- 14.5%+ 8.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 0 1 -- 0 1 --

Pending Sales 0 1 -- 0 1 --

Closed Sales 0 2 -- 0 2 --

Average Sales Price* $0 $67,500 -- $0 $67,500 --

Median Sales Price* $0 $67,500 -- $0 $67,500 --

Percent of Original List Price Received* 0.0% 93.1% -- 0.0% 93.1% --

Days on Market Until Sale 0 37 -- 0 37 --

Inventory of Homes for Sale 1 3 + 200.0% -- -- --

Months Supply of Inventory 1.0 2.0 + 100.0% -- -- --*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 2014

Shackelford County

-- -- --Change in

New ListingsChange in

Closed SalesChange in

Median Sales Price

January Year to Date

2

Year to Date 2013 2014

2

January 2013 2014

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 7-2013 1-2014

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

a

0 0

1

New Listings Closed Sales----

0 0

1

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 42: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 48 49 + 2.1% 48 49 + 2.1%

Pending Sales 29 23 - 20.7% 29 23 - 20.7%

Closed Sales 26 22 - 15.4% 26 22 - 15.4%

Average Sales Price* $204,329 $249,763 + 22.2% $204,329 $249,763 + 22.2%

Median Sales Price* $156,650 $216,500 + 38.2% $156,650 $216,500 + 38.2%

Percent of Original List Price Received* 95.4% 92.6% - 3.0% 95.4% 92.6% - 3.0%

Days on Market Until Sale 97 70 - 28.2% 97 70 - 28.2%

Inventory of Homes for Sale 237 202 - 14.8% -- -- --

Months Supply of Inventory 9.0 7.0 - 22.4% -- -- --*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 2014

Smith County+ 2.1% - 15.4% + 38.2%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

48 49

Year to Date 2013 2014

48 49

January 2013 2014

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 7-2013 1-2014

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

a

8

26 22

New Listings Closed Sales- 15.4%+ 2.1%

26 22

New Listings Closed Sales- 15.4%+ 2.1%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

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

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

Closed Sales 3 3 0.0% 3 3 0.0%

Average Sales Price* $164,167 $117,500 - 28.4% $164,167 $117,500 - 28.4%

Median Sales Price* $128,500 $83,500 - 35.0% $128,500 $83,500 - 35.0%

Percent of Original List Price Received* 94.9% 82.6% - 13.0% 94.9% 82.6% - 13.0%

Days on Market Until Sale 131 239 + 81.7% 131 239 + 81.7%

Inventory of Homes for Sale 88 69 - 21.6% -- -- --

Months Supply of Inventory 16.0 11.7 - 27.1% -- -- --*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 2014

Somervell County+ 55.6% 0.0% - 35.0%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

14

Year to Date 2013 2014

14

January 2013 2014

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 7-2013 1-2014

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

a

9

3 3

New Listings Closed Sales0.0%+ 55.6%

9

3 3

New Listings Closed Sales0.0%+ 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 44: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 9 3 - 66.7% 9 3 - 66.7%

Pending Sales 6 1 - 83.3% 6 1 - 83.3%

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

Average Sales Price* $251,000 $58,000 - 76.9% $251,000 $58,000 - 76.9%

Median Sales Price* $251,000 $58,000 - 76.9% $251,000 $58,000 - 76.9%

Percent of Original List Price Received* 88.9% 89.4% + 0.6% 88.9% 89.4% + 0.6%

Days on Market Until Sale 134 36 - 73.1% 134 36 - 73.1%

Inventory of Homes for Sale 25 49 + 96.0% -- -- --

Months Supply of Inventory 6.9 21.0 + 202.4% -- -- --*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 2014

Stephens County- 66.7% - 50.0% - 76.9%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

9

Year to Date 2013 2014

9

January 2013 2014

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 7-2013 1-2014

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

a

23

1

New Listings Closed Sales- 50.0%- 66.7%

23

1

New Listings Closed Sales- 50.0%- 66.7%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

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 -- -- -- --

Months Supply of Inventory 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 2014

Stonewall County-- -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

Year to Date 2013 2014January 2013 2014

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%

+ 12%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 2,296 2,159 - 6.0% 2,296 2,159 - 6.0%

Pending Sales 1,649 1,589 - 3.6% 1,649 1,589 - 3.6%

Closed Sales 1,251 1,166 - 6.8% 1,251 1,166 - 6.8%

Average Sales Price* $164,614 $191,651 + 16.4% $164,614 $191,651 + 16.4%

Median Sales Price* $129,950 $145,000 + 11.6% $129,950 $145,000 + 11.6%

Percent of Original List Price Received* 93.5% 94.4% + 0.9% 93.5% 94.4% + 0.9%

Days on Market Until Sale 71 63 - 12.4% 71 63 - 12.4%

Inventory of Homes for Sale 6,018 4,646 - 22.8% -- -- --

Months Supply of Inventory 3.5 2.3 - 33.3% -- -- --*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 2014

Tarrant County- 6.0% - 6.8% + 11.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

2,296 2,159

Year to Date 2013 2014

2,296 2,159

January 2013 2014

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%

+ 12%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

1,251 1,166

New Listings Closed Sales- 6.8%- 6.0%

1,251 1,166

New Listings Closed Sales- 6.8%- 6.0%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 171 157 - 8.2% 171 157 - 8.2%

Pending Sales 119 102 - 14.3% 119 102 - 14.3%

Closed Sales 81 80 - 1.2% 81 80 - 1.2%

Average Sales Price* $158,313 $146,262 - 7.6% $158,313 $146,262 - 7.6%

Median Sales Price* $145,000 $125,000 - 13.8% $145,000 $125,000 - 13.8%

Percent of Original List Price Received* 94.2% 95.0% + 0.8% 94.2% 95.0% + 0.8%

Days on Market Until Sale 88 82 - 7.0% 88 82 - 7.0%

Inventory of Homes for Sale 601 514 - 14.5% -- -- --

Months Supply of Inventory 4.9 3.9 - 20.5% -- -- --*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 2014

Taylor County- 8.2% - 1.2% - 13.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

171157

Year to Date 2013 2014

171157

January 2013 2014

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 7-2013 1-2014

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

a

81 80

New Listings Closed Sales- 1.2%- 8.2%

81 80

New Listings Closed Sales- 1.2%- 8.2%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 1 0 - 100.0% 1 0 - 100.0%

Pending Sales 0 2 -- 0 2 --

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 6 10 + 66.7% -- -- --

Months Supply of Inventory 4.4 7.3 + 66.7% -- -- --*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 2014

Upshur County- 100.0% -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

1

Year to Date 2013 2014

1

January 2013 2014

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

- 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 7-2013 1-2014

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

a

00 0

New Listings Closed Sales--- 100.0%

00 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 49: Local Market Updates - NTREISLocal Market Update – January 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 65 46 - 29.2% 65 46 - 29.2%

Pending Sales 20 27 + 35.0% 20 27 + 35.0%

Closed Sales 21 26 + 23.8% 21 26 + 23.8%

Average Sales Price* $132,452 $154,319 + 16.5% $132,452 $154,319 + 16.5%

Median Sales Price* $97,000 $102,585 + 5.8% $97,000 $102,585 + 5.8%

Percent of Original List Price Received* 89.4% 86.4% - 3.4% 89.4% 86.4% - 3.4%

Days on Market Until Sale 147 135 - 8.4% 147 135 - 8.4%

Inventory of Homes for Sale 376 323 - 14.1% -- -- --

Months Supply of Inventory 15.1 10.1 - 32.8% -- -- --*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 2014

Van Zandt County- 29.2% + 23.8% + 5.8%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

65

Year to Date 2013 2014

65

January 2013 2014

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%

+ 50%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

21

46

26

New Listings Closed Sales+ 23.8%- 29.2%

21

46

26

New Listings Closed Sales+ 23.8%- 29.2%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 90 103 + 14.4% 90 103 + 14.4%

Pending Sales 35 47 + 34.3% 35 47 + 34.3%

Closed Sales 24 34 + 41.7% 24 34 + 41.7%

Average Sales Price* $127,174 $145,887 + 14.7% $127,174 $145,887 + 14.7%

Median Sales Price* $101,500 $126,000 + 24.1% $101,500 $126,000 + 24.1%

Percent of Original List Price Received* 90.8% 89.9% - 0.9% 90.8% 89.9% - 0.9%

Days on Market Until Sale 127 111 - 12.7% 127 111 - 12.7%

Inventory of Homes for Sale 434 394 - 9.2% -- -- --

Months Supply of Inventory 9.3 7.1 - 24.0% -- -- --*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 2014

Wise County+ 14.4% + 41.7% + 24.1%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

90103

Year to Date 2013 2014

90103

January 2013 2014

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

- 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 7-2013 1-2014

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

a

90

2434

New Listings Closed Sales+ 41.7%+ 14.4%

90

2434

New Listings Closed Sales+ 41.7%+ 14.4%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 56 58 + 3.6% 56 58 + 3.6%

Pending Sales 16 6 - 62.5% 16 6 - 62.5%

Closed Sales 12 10 - 16.7% 12 10 - 16.7%

Average Sales Price* $124,127 $118,940 - 4.2% $124,127 $118,940 - 4.2%

Median Sales Price* $81,000 $101,750 + 25.6% $81,000 $101,750 + 25.6%

Percent of Original List Price Received* 92.7% 85.7% - 7.5% 92.7% 85.7% - 7.5%

Days on Market Until Sale 106 148 + 39.7% 106 148 + 39.7%

Inventory of Homes for Sale 247 241 - 2.4% -- -- --

Months Supply of Inventory 17.3 12.9 - 25.5% -- -- --*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 2014

Wood County+ 3.6% - 16.7% + 25.6%

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

56 58

Year to Date 2013 2014

56 58

January 2013 2014

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%

+ 60%

1-2008 7-2008 1-2009 7-2009 1-2010 7-2010 1-2011 7-2011 1-2012 7-2012 1-2013 7-2013 1-2014

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

a

56

12 10

New Listings Closed Sales- 16.7%+ 3.6%

12 10

New Listings Closed Sales- 16.7%+ 3.6%

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 2014 Bosque County - 33.3% - 28.6% - 49.0% Change in New Listings Change in Closed Sales Change in Median Sales Price January

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

2013 2014 + / – 2013 2014 + / –

New Listings 17 7 - 58.8% 17 7 - 58.8%

Pending Sales 3 2 - 33.3% 3 2 - 33.3%

Closed Sales 0 5 -- 0 5 --

Average Sales Price* $0 $165,000 -- $0 $165,000 --

Median Sales Price* $0 $199,000 -- $0 $199,000 --

Percent of Original List Price Received* 0.0% 88.8% -- 0.0% 88.8% --

Days on Market Until Sale 0 42 -- 0 42 --

Inventory of Homes for Sale 50 64 + 28.0% -- -- --

Months Supply of Inventory 10.7 8.8 - 17.6% -- -- --*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 2014

Young County- 58.8% -- --

Change in New Listings

Change inClosed Sales

Change in Median Sales Price

January Year to Date

17

Year to Date 2013 2014

17

January 2013 2014

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

- 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 7-2013 1-2014

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

a

0

75

New Listings Closed Sales--- 58.8%

0

75

New Listings Closed Sales--- 58.8%

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