Jan Buffa Listing Presentation

REAL ESTATE SERVICES PROPOSAL

Prepared Especially for: Jan Buffa Trust For marketing the property located at: 56270 Twin Rivers Drive Prepared by: Debbie Tebbs Broker/President

Cascade Sotheby's International Realty 650 SW Bond Street, Suite 100 Bend Oregon 97702 Office: 541-419-4553 Office Fax: 541-383-3940 E-mail: debtebbsgroup@bendluxuryhomes.com Voicemail: 541-419-4553 Mobile: 541-419-4553 Date: June 6, 2013

Each Office is Independently Owned and Operated.

June 6, 2013 Jan Buffa Trust Dear Jan: Thank you very much for giving me the opportunity to present the enclosed proposal to market your home. I appreciate the time you spent with me reviewing the features of your home and outlining your financial goals and time considerations.

You will receive competent and professional service when you select me and Cascade Sotheby's International Realty to represent you. We have represented many families in this area concluding transactions that realize maximum value in a reasonable time. I hope you will select me as your agent in this very important transaction.

This proposal includes a comprehensive market analysis that will assist us in determining the market value and pricing of your home. I hope the information included on me and Cascade Sotheby's International Realty will confirm that I am best qualified to market your home.

Sincerely,

Debbie Tebbs Broker/President, REALTOR速

Each Office is Independently Owned and Operated.

INTERNATIONAL BRAND ADVERTISING

TARGETING THOSE WHO VALUE THE UNIQUE Our international advertising campaign elegantly positions the Sotheby's International Realty速 name in front of audiences known for buying high-quality real estate.

Found in publications such as Architectural Digest, Departures, Robb Report and Wine Spectator.

Our advertising is designed to maximize the visibility of your property by keeping the Sotheby's International Realty速 name and Web site, www.sothebysrealty.com, top of mind with prospective purchasers of substantial properties.

ARCHITECTURAL DIGEST DEPARTURES ROBB REPORT WINE SPECTATOR UNIQUE HOMES DUPONT REGISTRY

Each Office is Independently Owned and Operated.

COUNTRY LIFE (UK) FOUR SEASONS GOURMET HOUSE BEAUTIFUL O AT HOME TRAVEL + LEISURE GOLF

STRENGTHENING A PREMIER NAME IN REAL ESTATE

YOUR SOTHEBY'S INTERNATIONAL REALTY速SALES ASSOCIATE IS PART OF A SELECT GROUP This group of real estate professionals is well-respected for their expertise in high-quality real estate.

Sotheby's International Realty速 professionals are often cited by the media as luxury real estate experts who are knowledgeable of market conditions and trends. Our media outreach efforts, along with community relations initatives, help keep the Sotheby's International Realty速 name firmly placed in the minds of luxury homebuyers.

Combined with the substantial media attention generated from Sotheby's auction house events, your property is aligned with one of the world's most visible names in luxury living - positioning it to attract prominent homebuyers from across the world.

ARCHITECTURAL DIGEST CNN WALL STREET JOURNAL LUXURY LIVING FORBES

Each Office is Independently Owned and Operated.

38% of Buyers find their home via their real estate agent* Multiple Listing System (MLS) – Your property will be input into the Central Oregon MLS which will expose it to the 1,200+ agents that sell property in Central Oregon every day. The MLS links your property information to other public websites such as Central Oregon Association of REALTORS®, BendHomes.com®, and REALTOR.com®. We track agent interest by the unique “hits” your property information page gets on the MLS.

Cascade Sotheby’s International Realty Group Tour – Our team of over 70 top-level sale associates have an average of nearly ten years experience each. Our agents will tour your home, typically, after our weekly office meeting to get their opinions on condition, price, first impressions, etc…

Agent Networking/Consolidated Group Tour – Once a week the agents that work the Bend market discuss/tour the newly listed homes on Tuesday between 8 AM and 10 AM. It is one of the best ways that we get your home exposed to the real estate community.

37% of Buyers find their home via the internet* Each month nearly 38 million consumers are on the Internet searching and researching real estate. Proper listing exposure is paramount to obtaining more buyer leads and delivering an aggressive e-marketing strategy. Nine out of ten buyers start their real estate search online* so the plan to sell your home must include proper Internet exposure.

Company Websites - SothebysRealty.com, Sothebyshomes.com, CascadeSothebysRealty.com and BendLuxuryHomes.com- if you have never checked out our company website before, please do! It is a very user-friendly site with many features available to the public. People from all over the nation and World will be able to access the information regarding your home and contact us about it.

Agent Websites - Your listing will also be featured on our team websites debtebbsgroup.com, debtebbsbend.com, luxuryhomes.com, realtor.com, number1expert.com – in addition to our company websites.

Realtor.com Showcase Listings™ - Enhanced listings on the #1 real estate site with the features buyers want most. Realtor.com features up to 25 jumbo photos, full motion videos, open house alerts, and most importantly - multiple leads forms so that buyers can contact us directly.

Trulia™ - Enhanced listings on the #3 real estate site with the features buyers want most.

ListHub - ListHub is the broadest, most widely adopted network for listing distribution, and works in concert with MLSs, franchises, and core real estate technologies to bring real estate brokerage firms a single dashboard for controlling their online marketing strategy.

11% of Buyers find their home via a yard sign* Yard Sign – First impressions are critical and signage represents the first point of contact for many of your customers.

6% of Buyers find their home via a friend, relative or neighbor*

Just Listed Postcards – Get to word out to the neighbors about your desire to sell. eMarketing Campaigns - Constant Contact – Regular Bi-monthly eBlast to our sphere of influence.

Facebook – Become our friend on Facebook by “liking” our real estate page just search for Deb Tebbs Group.

Other Marketing Avenues Property Brochure – a professional looking brochure with photos and text that describe your property for: Brochure Box, Home Display Binder, Cascade Sotheby’s International Realty Office Window Displays, and Agent/Buyer inquires.

Visual Tour – a video tour will be posted to your MLS listing.

Over 90% of active listings are listed on Realtor.com® and listings with virtual tours receive 38% more views than listings with out.

Keep YOU Informed – We will email you anytime your home is viewed with feedback and we will send you a real estate activity (CMA) report once a month for your area or subdivision.

Four Locations – Cascade Sotheby’s International Realty is one of the largest real estate offices in Central Oregon, with four convenient locations in Downtown Bend, the Old Mill District, Sunriver Village Mall, and Lake Oswego.

Name Recognition – Our brand is known throughout the world for representing homes that embody the rich tapestry of varied lifestyles, distinct settings, and diverse locales.

Home Display Binder – It includes pertinent details about your home and community including a plat map, mls printout, property brochure, utility information plus city happenings & statistics with some local school facts and information.

Showing Responses - We follow up on the agents who show your home.

COMPARATIVE MARKET ANALYSIS SUMMARY CURRENTLY ON THE MARKET Address 65725 Mariposa 55975 Hashknife Road 56785 Nest Pine Dr 66500 Gerking Market R 56037 School House Roa

City Bend Bend Bend Bend Bend

Beds 4 5 4 3 3

Baths 5.50 6 4.50 4.50 4

Year 2006 1995 20 2009 2002

Average of 5 Properties: $2,409,800

Sqft 6836 8225 5782 9682 6839

S$Sqft

Lot Size 9.8800 2.2900 0.830 33.8800 4.1600

Min: $1,799,000

List Price $1,799,000 $1,950,000 $2,500,000 $2,850,000 $2,950,000

Sold Price

Dom 5 5 119 290 506

Max: $2,950,000

Median: $2,500,000

UNDER CONTRACT Address 63560 Johnson Road

City Bend

Beds 4

Baths 5.50

Year 2006

Average of 1 Properties: $2,500,000

Sqft 9088

S$Sqft

Lot Size 10.0

Min: $2,500,000

List Price $2,500,000

Sold Price

Dom 689

Max: $2,500,000

RECENTLY SOLD Address 16700 Old Military Dr 70900 Indian Ford Road 2092 Nw Talapus Ct

City Sisters Sisters Bend

Beds 4 3 5

Each Office is Independently Owned and Operated.

Baths 5.50 3.50 5.50

Year 2007 1989 2008

Sqft 7189 4215 6865

S$Sqft $243 $439 $291

Lot Size 80.0 38.570 0.8500

List Price $2,350,000 $1,950,000 $2,200,000

Sold Price Dom $1,750,000 708 $1,850,000 37 $2,000,000 88

Median: $2,500,000

COMPARATIVE MARKET ANALYSIS SUMMARY RECENTLY SOLD Address 17100 South Century Dr

City Bend

Beds 4

Average of 4 Properties: $1,948,750

Each Office is Independently Owned and Operated.

Baths 5

Year 19

Sqft 4

S$Sqft $548,750

Min: $1,750,000

Lot Size 43.280

List Price $2,195,000

Sold Price Dom $2,195,000 437

Max: $2,195,000

Median: $1,925,000

MAP OF COMPARABLE PROPERTIES

REF # 1 2 3 4 5 6 7 8

STATUS Subject Property Currently On The Market Currently On The Market Currently On The Market Currently On The Market Currently On The Market Under Contract Recently Sold

Each Office is Independently Owned and Operated.

ADDRESS 56270 Twin Rivers Drive 65725 Mariposa 55975 Hashknife Road 56785 Nest Pine Dr 66500 Gerking Market Road 56037 School House Road 63560 Johnson Road 16700 Old Military Dr

List of mapped properties continued.

REF # 9 10 11

STATUS Recently Sold Recently Sold Recently Sold

Each Office is Independently Owned and Operated.

ADDRESS 70900 Indian Ford Road 2092 Nw Talapus Ct 17100 South Century Dr

COMPARATIVE MARKET ANALYSIS 65725 Mariposa

55975 Hashknife Road

56785 Nest Pine Dr

66500 Gerking Market R

56037 School House Roa

A $1,799,000 $263

A $1,950,000 $237

A $2,500,000 $432

A $2,850,000 $294

A $2,950,000 $431

Contract Date Sold Date DOM City Subdivision

5 Bend Grandridge

5 Bend Vandevert Ranch

119 Bend Crosswater

290 Bend Cla

506 Bend Vandevert Ranch

Type Lot Size Year Built SqFt Style

Residential 9.8800 2006 6836 Northwest

Residential 2.2900 1995 8225 Log

Residential 0.830 20 5782 Northwest

Residential 33.8800 2009 9682 Northwest

Residential 4.1600 2002 6839 Northwest

Levels Bedrooms Bathrooms Heat/Cool Heat/Cool

2 Story 4 5.50 Heat Pump Propane

2 Story 5 6 Heat Pump Natural Gas

2 Story 4 4.50 Natural Gas Forced Air

3 Story 3 4.50 Heat Pump Electric

2 Story 3 4 Electric Natural Gas

Solar Triple Attached

Central Ac Triple Attached

Propane 4 Plus Attached

Forced Air Triple Attached

Cascade Mountain

Forced Air Double Triple Attached Cascade Mountain

Golf Course

Cascade Mountain

Cascade Mountain

View Int Feat Int Feat Int Feat Int Feat

Mountain Other Walk In Closet Pantry Central Vacuum Ceiling Fan

Walk In Closet Pantry Central Vacuum Ceiling Fan

Terrain Walk In Closet Pantry Ceiling Fan 2 Master Bedroom

Water Walk In Closet Pantry Central Vacuum Ceiling Fan

Water Walk In Closet Pantry Central Vacuum Ceiling Fan

Ext Feat Ext Feat Ext Feat Ext Feat

Water Feature Patio/Deck Landscaped Sprinkler System

Patio/Deck Landscaped Hot Tub/Spa Sprinkler System

Patio/Deck Landscaped Sprinkler System

Water Feature Patio/Deck Landscaped Fenced

Water Feature Patio/Deck Landscaped Pool

Status List Price List$ SqFt Sold Price Sold$ SqFt

Heat/Cool Garage Garage Garage View

Each Office is Independently Owned and Operated.

COMPARATIVE MARKET ANALYSIS 63560 Johnson Road

16700 Old Military Dr

70900 Indian Ford Road

2092 Nw Talapus Ct

17100 South Century Dr

P $2,500,000 $275

S $2,350,000 $327 $1,750,000 $243

S $1,950,000 $463 $1,850,000 $439

S $2,200,000 $320 $2,000,000 $291

S $2,195,000 $548,750 $2,195,000 $548,750

04/23/13 689 Bend M&B

08/22/12 09/13/12 708 Sisters M&B

06/13/12 07/11/12 37 Sisters Cla

03/08/13 05/10/13 88 Bend Skyliner Summit

08/29/12 09/06/12 437 Bend M&B

Type Lot Size Year Built SqFt Style

Residential 10.0 2006 9088 Northwest

Residential 80.0 2007 7189 Northwest

Residential 38.570 1989 4215 Contemporary

Residential 0.8500 2008 6865 Contemporary

Residential 43.280 19 4 Northwest

Levels Bedrooms Bathrooms Heat/Cool Heat/Cool

2 Story 4 5.50 Heat Pump Electric

3 Story 4 5.50 Heat Pump Electric

1 Story 3 3.50 Electric Wood

2 Story 5 5.50 Heat Pump Natural Gas

2 Story 4 5 Heat Pump Propane

Propane Triple 4 Plus Attached Cascade Mountain

Forced Air 4 Plus Attached Cascade Mountain

Forced Air Triple Detached Covered Rv Parki Cascade Mountain

Forced Air Triple Attached See Remarks Cascade Mountain

Forced Air Triple Attached Covered Rv Parki Cascade Mountain

View Int Feat Int Feat Int Feat Int Feat

Mountain Other Walk In Closet Pantry Central Vacuum Ceiling Fan

Water Walk In Closet Pantry Master Bdrm Mn L Range/Oven

Terrain Walk In Closet Pantry Ceiling Fan Master Bdrm Mn L

Mountain Other Walk In Closet Pantry Central Vacuum Ceiling Fan

Mountain Other Walk In Closet Pantry Central Vacuum Ceiling Fan

Ext Feat Ext Feat Ext Feat Ext Feat

Water Feature Patio/Deck Landscaped Fenced

Water Feature Patio/Deck Landscaped Sprinkler System

Patio/Deck Landscaped Pool Hot Tub/Spa

Patio/Deck Landscaped Hot Tub/Spa Sprinkler System

Water Feature Patio/Deck Landscaped Hot Tub/Spa

Status List Price List$ SqFt Sold Price Sold$ SqFt Contract Date Sold Date DOM City Subdivision

Heat/Cool Garage Garage Garage View

Each Office is Independently Owned and Operated.

COMPARATIVE MARKET ANALYSIS 56270 Twin Rivers Drive

16700 Old Military Dr

17100 South Century Dr

Adjustments

$1,750,000

70900 Indian Ford Road

Adjustments

$2,195,000 $548,750 $2,195,000 $548,750 08/29/12

$2,195,000

Adjustments

Sold Price Sold$ SqFt List Price List$ SqFt Contract Date

$1,750,000 $243 $2,350,000 $327 08/22/12

$1,850,000 $439 $1,950,000 $463 06/13/12

Sold Date DOM City Subdivision Type

09/13/12 708 Sisters M&B Residential

09/06/12 437 Bend M&B Residential

07/11/12 37 Sisters Cla Residential

Lot Size Year Built SqFt Style Levels

80 2007 7189 Northwest 3 Story

43.28 19 4 Northwest 2 Story

38.57 1989 4215 Contemporary 1 Story

Bedrooms Bathrooms Heat/Cool Heat/Cool Heat/Cool

4 5.5 Heat Pump Electric Forced Air

4 5 Heat Pump Propane Forced Air

3 3.5 Electric Wood Forced Air

4 Plus Attached

Triple Detached Covered Rv Parki Cascade Mountain Terrain

Garage Garage Garage View View

Cascade Mountain Water

Triple Attached Covered Rv Parki Cascade Mountain Mountain Other

Int Feat Int Feat Int Feat Int Feat Ext Feat

Walk In Closet Pantry Master Bdrm Mn L Range/Oven Water Feature

Walk In Closet Pantry Central Vacuum Ceiling Fan Water Feature

Walk In Closet Pantry Ceiling Fan Master Bdrm Mn L Patio/Deck

Ext Feat Ext Feat Ext Feat

Patio/Deck Landscaped Sprinkler System

Patio/Deck Landscaped Hot Tub/Spa

Landscaped Pool Hot Tub/Spa

$1,948,750

Each Office is Independently Owned and Operated.

$1,750,000

$2,195,000

$1,850,000

$1,850,000

COMPARATIVE MARKET ANALYSIS 56270 Twin Rivers Drive

2092 Nw Talapus Ct

Adjustments

$2,000,000 $291 $2,200,000 $320 03/08/13

Sold Price Sold$ SqFt List Price List$ SqFt Contract Date

$2,000,000

05/10/13 88 Bend Skyliner Summit Residential

Sold Date DOM City Subdivision Type

0.85 2008 6865 Contemporary 2 Story

Lot Size Year Built SqFt Style Levels

5 5.5 Heat Pump Natural Gas Forced Air

Bedrooms Bathrooms Heat/Cool Heat/Cool Heat/Cool Garage Garage Garage View View

Triple Attached See Remarks Cascade Mountain Mountain Other

Int Feat Int Feat Int Feat Int Feat Ext Feat

Walk In Closet Pantry Central Vacuum Ceiling Fan Patio/Deck

Ext Feat Ext Feat Ext Feat

Landscaped Hot Tub/Spa Sprinkler System

$1,948,750

Each Office is Independently Owned and Operated.

$2,000,000

Adjustments

Adjustments

COMPARATIVE MARKET ANALYSIS STATISTICS GRAPHIC ANALYSIS OF CURRENTLY ON THE MARKET PROPERTIES

Summary Statistics of 5 Properties: Average Price: High Price: Low Price: Median Price: Average $ per SqFt: Average Year Built: Average Days On Market:

Each Office is Independently Owned and Operated.

$2,409,800 $2,950,000 $1,799,000 $2,500,000 $331.40 1606 185

COMPARATIVE MARKET ANALYSIS STATISTICS GRAPHIC ANALYSIS OF RECENTLY SOLD PROPERTIES

Summary Statistics of 4 Properties: Average Price: High Price: Low Price: Median Price: Average $ per SqFt: Average Year Built: Average Sale Price % List Price: Average Days On Market:

Each Office is Independently Owned and Operated.

$1,948,750 $2,195,000 $1,750,000 $1,925,000 $137,430.75 1505 89.65 317

Debbie Tebbs, Broker/President

Debbie Tebbs has been an Oregon resident for over 30 years and a fulltime Oregon Realtor for nearly 20 years. She began her career in Southern Oregon and came to Central Oregon two decades ago to manage and co-own a high-end custom home building company, Sun Ridge Building and Design, as we ll as to pursue a real estate career.

After building a successful high-end business in res ort sales, Deb pursued the Sothe y’s International Realty fran hise for Oregon in . As the sole owner of the Cas ade Sothe y’s International Realty, Deb currently owns four offices which support over 65 brokers in the state of Oregon. Throughout both the housing boom and the subsequent downturn of the last decade, Deb was recognized consistently as one of the top brokers for gross commission and sales volume in Central Oregon.

Best of all, Deb loves Oregon! She is delighted to show the area and share her enthusiasm for this beautiful state.

Experience • Deb represents dozens of the area’s most valued real estate offerings (over $40 million in listings) • Hired to represent the entire resort communities of Pronghorn & Tetherow • Manages and trains Broker teams staffed at Pronghorn & Tetherow • Over 20 years of extensive marketing and business management experience • Certified Resort Specialist, CRES • Top agent for $1million sales transactions • Active member of both the Tetherow and Pronghorn Country Clubs

Christina Wise, Broker Executive Assistant Deb Tebbs Group Christina Wise, a native Oregonian, moved to Bend from Washington State 14 years ago to raise her family. Her career started as a Transaction Coordinator for a Mortgage company in 1993, she then obtained her Real Estate license in the state of WA in 99 , and her Broker’s li ense in Oregon in 2002. She spent seven years in marketing and sales for Title Companies and returned to real estate in 2010 as a Broker working directly with Debbie Tebbs.

Christina is married with two grown boys and a daughte r in middle school. Her hobbies include spending time wi th her family and friends, playing cards, hiking, snowshoeing and co mpetition softball for Bend Parks and Recreation. She enjoys the challenges and variety in her work and is proud to be affiliated with Deb Tebbs Group and Cascade Sothe y’s I ter atio al Realty.

Stephanie Wilson Ruiz, Broker Deb Tebbs Group

Stephanie Wilson Ruiz, originally from the San Francisco Bay Area, relocated to Bend in 2003 with a boutique private investment firm from Palo Alto, CA. Prior to obtaining her Oregon Real Estate Broker's license in 2009, she had been in the finance industry since 1998. She also participates in her neighborhood HOA, school PTO/TEAM, and local sports programs. Stephanie is married with three children. In her extra time, she enjoys being with family and friends, working out, traveling, water skiing, hiking, and biking. She enjoys working with people an d the challenge of finding the perfect home or investments for her clients.

Jessica Venable, Marketing Manager

Deb Tebbs Group

Jessica Venable graduated from the Art Institute of Seattle with a Bachelor of Fine Arts degree in Graphic Design. Before working in real estate, she was a Compliance Specialist with Wells Fargo where she assisted clients in resolving service issues, during one of the most difficult times in the housing market. Jessica relocated to Central Oregon from Seattle, six years ago, to be closer to her family.

She supports Debbie Tebbs with various aspects of marketing to ensure stellar client communication & the maximum exposure of all listings. In addition, she contributes to presentations, eBooks & newsletters. She enjoys running, camping, fishing, family gatherings & spending quality time with her boyfriend, dog & bunny.

Print Advertising        

Luxury Homes Magazine Reside Locale Magazine Farm & Ranch West for ranches Real Estate section-Bend Bulletin Sunriver Scene for Sunriver properties Golf Magazine for golf properties Cas ade Sothe y’s Magazi e-local distribution Bend Bulletin weekly rotation

Website Advertising         

www.sothebysrealty.com www.luxuryrealestate.com www.debtebbsgroup.com www.bendoregonhomesnow.com www.cascadesothebysrealty.com www.luxuryhomes.com www.farmandranchSIR.com www.realtor.com www.debtebbsbend.com

Our Commitment  Sign and Lockbox Placed

 Just Listed Postcards

 Realtors Multiple Listing Service

 Virtual Tour – Up to six web sites

 Lau h listi g a d photos to Sothe y’s

 Create Ad for local publications

Websites and partners  Design and distribute flyers/brochure  I trodu e your ho e to our Sothe y’s agents in sales meetings- Broker Tour  Host a caravan for agents to preview

 Advertise your home in media (online and/or print)  Realtors® Broker’s ope house if e essary  Provide you with a copy of all advertising  Monthly and weekly emails on website activity

your home  Inform you of responses and inquiries relating to your home including

 Provide regular updates on comparable homes in your area (sales & new listings)

showing feedback from Brokers

If we do not have an offer within 30 days we will revisit comparables & may ask for a price reduction.

Deb Tebbs Group Who To Contact Debbie Tebbs, Broker/Owner Cascade Sotheby’s International Realty debtebbsgroup@bendluxuryhomes.com c: 541.419.4553 d: 541.323.4823 Christina Wise, Broker/ Executive Assistant debtebbsgroup@bendluxuryhomes.com d: 541.323.4823 c: 541. 788.4253 Stephanie Wilson Ruiz, Buyer’s Broker Specialist debtebbsgroup@bendluxuryhomes.com c: 541.948.5196 Jessica Venable, Marketing Manager marketing@bendluxuryhomes.com d: 541.598.3770 Main Office Phone: 541.383.7600 Main Office Fax: 541.383.3940 www.debtebbsgroup.com

IN CONCLUSION While real estate by nature is local, the market for your home is in reality national, and increasingly, global. Sotheby's International Realty is part of this global network, which includes offices in the world's most sought-after locations.

Selecting me and Sotheby's International Realty to represent your property will connect you to a group of real estate professionals widely respected for the quality of their listings and the level of professionalism and expertise they offer. Our associates have a deep understanding of local real estate markets and strong ties to the communities we serve. We share a strong commitment to delivering exceptional service and have a long history of exceeding the expectations of the world's most discerning buyers and sellers.

I look forward to offering you several unique advantages including: Ÿ Preeminent local expertise and contacts. Ÿ Access to proprietary marketing materials. Ÿ Strong relationships, marketing and brand recognition in other key markets. Ÿ A referral connection with some of the world's most successful agents. Ÿ A proven ability to sell properties in all price ranges. Ÿ A comprehensive internet marketing strategy that includes featuring your property on sothebyshomes.com, sothebysrealty.com and sothebys.com, and distribution partners such as WSJ.com, NYT.com, Yahoo.com, Openhouse.com, Trulia.com and Frontdoor.com. Ÿ Cross-marketing opportunities with strategic partners like Sotheby's auction house. Ÿ The level of service that clients have come to expect from the name Sotheby's.

Each Office is Independently Owned and Operated.

LISTING DISTRIBUTION WORLDWIDE pROpERTy maRkETING EXpOSURE

Cover property located in: Carbondale, Colorado, United States

Online Marketing Summary

August 08, 2012 - January 23, 2013 18 West Reds Road Aspen, CO 81611, US $19,500,000 MLS # 126606 Property Id: 4421270

To increase the potential for your home to be found by the most qualiied real estate consumers, the Sotheby’s International Realty® brand has partnered with and distributes properties to the most signiicant media companies and real estate-focused websites in the world.

To measure results, the Sotheby’s International Realty brand provides a property view report including view and inquiry statistics for each partner site a property is distributed to. Sotheby’s International Realty properties are viewed an astounding 60,000,000 times across all of our partner sites annually.

Craig Morris Aspen Snowmass Sotheby's International Realty 415 E Hyman Ave Aspen, CO 81611, US Agent Phone: 970-379-9795 Office Phone: 970-925-6060 craig.morris1@sothebysrealty.com http://www.aspensnowmasssir.com

Website Traffic Comparison

Website

Property Views

Inquiries

4,389

7

810

0

NY Times

177

0

Wall Street Journal

143

0

Number of Views - Last 4 Weeks

sothebysrealty.com

Inquiries

Your property has received 7 inquiries.

JamesList

PropGOLuxury

9

0

Chase

0

0

Zillow Network

1,839

Trulia

1,281

0

0

0

HomeFinder.com

Top Cities

0

City

Property Views

Homes.com

339

0

New York, NY

87

AOL Real Estate

20

Not Applicable

Denver, CO

73

Other Sites

23

0

Dallas, TX

70

Los Angeles, CA

56

TOTAL

9,030

7

Chicago, IL

53

Madrid, Spain

48

Houston, TX

44

CountryLife

Aspen, CO

40

Daily Telegraph

New Orleans, LA

38

Athens, Greece

35

Your Listing is Also Displayed On*

Real-Buzz

Online Marketing Summary

Smarter Agent

Terms Used

Te Atrium

Property Views - Occurs when a consumer views the full property detail page on the website for the specific listing.

Inquiries - The number of times a consumer completes and submits a contact form that is sent via email to the listing broker or agent.

Top Cities - The cities from which the greatest number of consumers live that are viewing your listing.

USAA March 14, 2012 - January 23, 2013 Viale Morin Forte Dei Marmi, LU 55042, IT $51,937,675 MLS # GP246 Property Id: 4000029001

FrontDoor

*Although your property listing is being displayed on these websites,

Gianluca Puracchio Rome Sotheby's International Realty Palazzo Colonna Piazza S.S. Apostoli, 61 Roma, Rome 00187, IT

we are currently unable to track the property views and inquiries for these websites.

Sotheby's International Realty and the Sotheby's International Realty logo are registered (or unregistered) service marks used with permission. Each Office is Independently Office Phone: +390669923996 Owned and Operated. The information set forth on this report is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, and are subject to timing of delivery gianluca.puracchio@sothebysrealty.com and updates of reporting metrics and related data.

http://www.romesir.com

Website Traffic Comparison

Website Number of Views - Last 4 Weeks

Inquiries

Your property has received 27 inquiries.

Top Cities

City

Property Views

Milan, Italy

426

Rome, Italy

308

Florence, Italy

219

London, United Kingdom

212

New York, NY

Property Views

Inquiries

sothebysrealty.com

10,580

25

JamesList

1,408

0

Wall Street Journal

165

0

PropGOLuxury

33

2

Chase

0

0

NY Times

0

0

Zillow Network

0

Trulia

0

0

HomeFinder.com

0

0

Homes.com

8

0

AOL Real Estate

0

Not Applicable

Other Sites

2

0

12,196

27

TOTAL

158

Your Listing is Also Displayed On*

Pisa, Italy

105

CountryLife

Paris, France

100

Daily Telegraph

Moscow, Russian Federation

73

Genoa, Italy

70

Montreal, Canada

65

0

Real-Buzz Smarter Agent Te Atrium

Terms Used Property Views - Occurs when a consumer views the full property detail page on the website for the specific listing.

Inquiries - The number of times a consumer completes and submits a contact form that is sent via email to the listing broker or agent.

Top Cities - The cities from which the greatest number of consumers live that are viewing your listing.

USAA FrontDoor

*Although your property listing is being displayed on these websites, we are currently unable to track the property views and inquiries for these websites.

Sotheby's International Realty and the Sotheby's International Realty logo are registered (or unregistered) service marks used with permission. Each Office is Independently Owned and Operated. The information set forth on this report is based upon information which we consider reliable, but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. The offerings are subject to errors, omissions, changes, and are subject to timing of delivery and updates of reporting metrics and related data.

property distribution partners UNITED STATES YAHOO! REAL ESTATE Zillow now powers yahoo! Real Estate—one of the nation’s top real estate classiied websites for consumer trafic, driving millions of visits.

HOME FINDER With 3,000,000+ property listings, homeinder.com is able to deliver a full snapshot of the local market to home buyers and sellers, while delivering online advertising solutions to agents and brokers with powerful results.

FRONTDOOR.COM | OPENHOUSE.COM powered by HGTV, FrontDoor.com and OpenHouse.com provide access to the millions of consumers who search real estate property listings, home-related how-to articles and video on FrontDoor and its sister web sites, which include HGTV, DIy Network, Travel Channel, and the Fine Living Network, among others.

HOMES.COM Search over 3 million homes for sale or rent on Homes.com including new homes, apartments for rent, homes for rent, condos, townhouses and more. as well, Homes.com provides a wealth of real estate information to help you learn more about inding the perfect home.

ZILLOW.COM Zillow and yahoo! Real Estate have joined forces to create one of the largest real estate networks on the web and mobile, The Zillow network! The combined network draws millions of visitors.

TRULIA.COM Trulia is a residential real estate search engine that helps consumers search for homes for sale, trends, neighborhood insights and other real estate information directly from hundreds of thousands of real estate broker websites.

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THE DAILY TELEGRAPH Founded in 1855, The Daily Telegraph has transformed from London’s first penny paper to a fully integrated, leading, multi-platform media group and is now recognized as the Uk’s fastest-growing newspaper website with the country’s most exciting advertising opportunities. attracting more than 4.6 million viewers monthly to the site in general, and more than 130,000 property seekers, the site boasts an affluent, loyal, influential and elusive audience.

PROPGOLUXURY propGOLuxury.com was created to fulfill the high demand of our affluent Chinese consumer base requesting exclusive properties from around the world. China represents the world’s largest and fastest growing population with more new millionaires being created than at any time in history. propGOLuxury.com is the largest and fastest growing property portal in the China and asia pacific region.

JAMESLIST Jameslist is the world’s first marketplace to span across product categories and offer high-end items from dealers across the world. Their cutting-edge technology lets consumers find and compare listings from submariners to luxury real estate. The site reaches more than 500,000 potential buyers from 113 countries each month.

REAL-bUZZ.COM Real-buzz.com® is the world’s largest real estate database of homes for sale from the mLS in each buyer’s preferred language. Find homes for sale and other real estate listings, realtors and other real estate professionals, mortgage rates and information on buying a home, real estate blogs, real estate discussions, advice and more.

COUNTRY LIFE Country Life is the quintessential British magazine with a focus on advertising premium town and country property in the Uk and overseas. Country Life is the market leading digital and print magazine for advertising premium property and carries more property pages than any other Uk publication. With its ability to reach high-end buyers, advertising in Country Life ensures your premium town, country and international properties are presented to the right audience.

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TE ATRIUM Te atrium is an international portal dedicated to luxury properties with the most advanced range of services worldwide. They offer a large showcase of exclusive properties and professionals who stand for quality and competence.

eGALLERY The Sotheby’s International Realty eGallery is a real time, dynamic property slide show designed to provide worldwide reach to a property. It is displayed on flat screens in most of the Sotheby’s International Realty and Sotheby’s auction house locations around the world. and to provide even more exposure for the listings our network represents, property brochures have the opportunity to be distributed in our exclusive Global property Distribution program where copies are sent to hundreds of real estate and auction House locations around the world. minimum list price of $1.5m USD and above is required to participate.

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Sotheby’s International Realty

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BRAND ADVERTISING Wall Street Journal Digital Network BBC.com “Living In” & “Voices” Telegraph.co.uk “World’s Most Extraordinary Places to Live” NYTimes.com/IHT.com YouTube.com/sothebysrealty ArchitecturalDigest.com / Estates for Sale Real Estate Launch Sponsorship HongKongTatler.com Tatler (Print Magazines) PROPERTY ADVERTISING Bloomberg Markets The Wall Street Journal Sotheby’s At Auction Country Life New York Times Home Section Robb Report Exceptional Properties Robb Report Collection International Herald Tribune International Herald Tribune Event Wraps Luxury Property Magazine Financial Times RESIDE® Magazine e-RESIDE® Globe & Mail Mountain Living Land Report SEARCH ENGINE MARKETING Yahoo!

Google Bing.com YouTube Yandex ONLINE BANNER ADVERTISING sothebys.com NYTimes.com International Herald Tribune (GlobalNYTimes.com) WallStreetJournal.com Asia.WSJ.com Europe.WSJ.com CN.WSJ.com JP.WSJ.com FinancialTimes.com FTchinese.com scmp.com (South China Morning Post) Telegraph.co.uk BBC.com (British Broadcasting Corp.)

PropGoLuxury.com PropGo.com CountryLife.co.uk ArchitecturalDigest.com JamesList.com HongKongTatler.com Google’s Display Network ® MMXIII Sotheby’s International Realty Afiliates LLC. All Rights Reserved. Sotheby’s International Realty Afiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Ofice is Independently Owned and Operated.

Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Afiliate LLC.

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ONLINE PROPERTY DISTRIBUTION The Wall Street Journal Digital Network CN.WSJ.com NYTimes.com International Herald Tribune Zillow.com Trulia.com Yahoo! Real Estate FrontDoor.com / OpenHouse.com Realestate.AOL.com Homeinder.com PropGoLuxury.com lp-luxuryproperties.com JamesList.com Homes.com Telegraph.co.uk CountryLife.co.uk lpdibiao.com (Luxury Properties Chinese) Real-Buzz.com Te Atrium MOBILE ADVERTISING BBC Smartphone Targeting BBC iPad Safari Browser Architectural Digest iPad Safari Browser New York Times iPhone App NYTimes.com iPad Safari Browser Wall Street Journal China iPad App SOCIAL MEDIA Facebook Twitter Google+ Pinterest youtube.com/sothebysrealty SIR Mobile eGallery INTERNATIONAL SIGNIFICANT SALES BRAND PUBLIC RELATIONS EFFORTS

• WALL STREET JOURNAL • NY TIMES IPAd • BBC.COM • ThEdAILYTELEGRAPh.COM • FRONTGATE.COM/SOThEBYSREALTY • NYTIMES.COM • TMAGAzINE • KEY MAGAzINE • SOThEBY’S AT AUCTION • COUNTRY LIFE • NEW YORK TIMES hOME SECTION • ROBB REPORT ExCEPTIONAL PROPERTIES • ROBB REPORT COLLECTION • INTERNATIONAL hERALd TRIBUNE • ThE GLOBE ANd MAIL • LUxURY PROPERTIES MAGAzINE • FINANCIAL TIMES • RESIdE® MAGAzINE • ERESIdE • RESIdE LOCALE • YAhOO! • GOOGLE • BING.COM • zILLOW • TRULIA • hOMEFINdER • JAMESLIST.COM • hOMES.COM • EGALLERY • WAShINGTONPOST. COM • CYBERhOMES.COM • ARChITECTURAL dIGEST • GLOBE & MAIL • MOUNTAIN LIvING • LANd REPORT • YOUTUBE

Delivering Over 700 milliOn impressiOns wOrlDwiDe

300

2012 Central Oregon Real Estate Companies Closed Volume in Millions All Property Types CSIR out sells nearest competitor in 2012 by $33 Million

200

100

0 Cascade Sotheby's International Realty

Competitor 1

Competitor 2

Competitor 3

Per MLSCO records, sales of all properties, 1/01/2012-1/31/2012

Past 12 Months Closed Volume in Millions for Properties Valued Over $300,000 200

150

100

50

0 Cascade Sotheby's International Realty

Competitor 1

Competitor 2

Competitor 3

Per MLSCO records, sales of all residential properties, all areas, 03/01/12 – 02/28/13

Past 12 Month Closed Volume in Millions for Properties Valued Over $500,000 150 CSIR outsells nearest competitor 2 to 1 for properties valued over $500,000 100

50

0 Cascade Sotheby's International Realty

Competitor 1

Competitor 2

Competitor 3

Per MLSCO records, sales of all residential properties, all areas, 03/01/12 – 02/28/13

Past 12 Month Closed Volume in Millions for Properties Valued Over $700,000 70 CSIR outsells nearest competitor almost 3 to 1 with 30% of the overall market share for homes valued over $700,000

60 50 40 30 20 10 0 Cascade Sotheby's International Realty

Competitor 1

Competitor 2

Competitor 3

Per MLSCO records, sales of all residential properties, all areas, 03/01/12 – 02/28/13

Past 12 Month Closed Volume in Millions for Properties Valued Over $900,000 40 CSIR outsells nearest competitor 5 to 1 for properties valued over $900,000

35 30 25 20 15 10 5 0 Cascade Sotheby's International Realty

Competitor 1

Competitor 2

Competitor 3

Per MLSCO records, sales of all residential properties, all areas, 03/01/12 – 02/28/13

Past 12 Months Closed Volume in Millions for Properties Valued over $1,000,000 35 30

Almost 40% of all homes sold in Central Oregon over $1,000,000 are sold by a Cascade Sotheby’s International Realty Associate

25 20 15 10 5 0 Cascade Sotheby's International Realty

Competitor 1

Competitor 2

Competitor 3

Per MLSCO records, sales of all residential properties, all areas, 03/01/12 – 02/28/13

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Per MLSCO records residential property only 1 acre or less as of 4/04/2013