Page 1

page 1

Land Title Market Analysis Historical Gross Sales Volume: Summit County 2004 - YTD. 2013 $250,000,000

$106,508,200 $104,706,100

$200,000,000

$105,465,200 $87,217,800 $81,043,900

$66,866,100

$150,000,000

$68,971,900

$64,326,500

$61,178,100 $53,409,200 $100,000,000

$46,679,000

$40,697,000

$50,000,000

$Jan. 13 YTD. 2013

Feb. 13 2012

Mar. 13 2011

Apr. 13 2010

May 13

Jun. 13

2009

Jul. 13 2008

Brooke Roberts

970-453-2255

broberts@ltgc.com

Aug. 13 2007

Sep. 13 2006

Oct. 12 2005

Nov. 12

Dec. 12 2004

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 2

Land Title Market Analysis by Area: Summit County All Transaction Summary

September 2013 Area

$ Volume Transactions

% of $ # of Transactions Volume

% of Transactions

Residential Summary

Median $ Average $ Average $ Transaction Transaction Price Residential Price Price

Median $ Average $ Residential Residential PPSF Price

$3,049,000

3%

9

4%

$338,778

$320,000

$447,000

$452,500

$255

Breckenridge

$29,347,800

28%

59

24%

$497,420

$400,000

$479,044

$419,000

$423

Breckenridge Golf Course

$15,125,200

14%

28

11%

$540,186

$329,000

$956,808

$1,060,000

$308

Copper Mountain

$1,977,000

2%

7

3%

$282,429

$210,000

$420,000

$385,000

$398

Corinthian Hills & Summerwood

$3,124,500

3%

5

2%

$624,900

$604,500

$624,900

$604,500

$249

Dillon Town & Lake

$1,449,000

1%

5

2%

$289,800

$330,000

$289,800

$330,000

$263

Dillon Valley

$1,693,900

2%

10

4%

$169,390

$103,500

$184,675

$103,500

$167

$445,000

0%

1

0%

$445,000

n/a

$445,000

n/a

$261

Frisco

$13,646,700

13%

31

13%

$440,216

$350,000

$446,962

$350,000

$326

Heeney

$842,500

1%

3

1%

$280,833

$217,500

$280,833

$217,500

$287

$10,663,500

10%

30

12%

$355,450

$280,000

$367,537

$280,000

$341

$25,100

0%

1

0%

$25,100

n/a

$0

$0

$0

$1,920,000

2%

2

1%

$960,000

n/a

$960,000

n/a

$216

Blue River & South to County Line

Farmers Corner

Keystone Montezuma North Summit County (rural)

$506,500

0%

2

1%

$253,250

n/a

$320,000

n/a

$250

Silverthorne

$9,974,400

9%

16

7%

$623,400

$530,500

$654,293

$533,000

$243

Summit Cove

$5,965,300

6%

12

5%

$497,108

$481,900

$526,855

$574,300

$243

Wildernest

$5,767,300

5%

18

7%

$320,406

$243,000

$320,406

$243,000

$238

Woodmoor

$555,000

1%

2

1%

$277,500

n/a

$277,500

n/a

$0

Quit Claim Deeds

$430,500

0%

3

1%

$143,500

$171,000

$0

$0

$0

$106,508,200

100%

244

100%

$440,156

$350,000

$473,383

$385,000

$320

$1,199,000

1%

4

2%

$299,750

$185,750

$299,750

$185,750

$181

Peak 7

TOTAL (BANK SALES)

NOTES: The above figures do not include time share interests or refinance transactions. Average & Median price calculations do not include Quit Claim Deed transactions. Residential Summary includes statistically viable sales only. Average PPSF is calculated from the heated living area when available from the Summit County Assessor's Office.

Brooke Roberts

970-453-2255 broberts@ltgc.com

Frisco Land Title

Dillon Land Title

Breckenridge Land Title

60 Main Street Frisco, CO 80443

256 Dillon Ridge Dillon, CO 80435

200 North Ridge Street Breckenridge, CO 80424

970.668.2205

970.262.1883

970.453.2255

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 3

Land Title Market Analysis by Area: Summit County All Transaction Summary

YTD: Sep. 2013 Area

Blue River & South to County Line

$ Volume Transactions

% of $ # of Transactions Volume

% of Transactions

Residential Summary

Median $ Average $ Average $ Transaction Transaction Price Residential Price Price

Median $ Average $ Residential Residential PPSF Price

$35,652,300

6%

87

6%

$409,797

$380,000

$525,789

$530,000

$251

$186,392,300

30%

321

24%

$580,661

$419,000

$579,957

$425,000

$391

Breckenridge Golf Course

$67,414,900

11%

123

9%

$548,089

$325,000

$865,377

$847,750

$305

Copper Mountain

$21,024,600

3%

51

4%

$412,247

$303,000

$454,813

$320,000

$367

$6,589,500

1%

11

1%

$599,045

$604,500

$588,950

$569,750

$249

$17,235,800

3%

55

4%

$313,378

$328,000

$326,210

$330,000

$262

Dillon Valley

$5,311,100

1%

32

2%

$165,972

$108,250

$172,848

$108,500

$158

Farmers Corner

$4,522,000

1%

10

1%

$452,200

$430,000

$469,111

$445,000

$228

Frisco

$68,455,900

11%

157

12%

$436,025

$360,000

$463,283

$397,900

$302

Heeney

$1,287,500

0%

4

0%

$321,875

$321,250

$321,875

$321,250

$258

$64,951,800

10%

166

12%

$391,276

$310,000

$402,313

$315,000

$308

Montezuma

$1,260,400

0%

5

0%

$252,080

$135,000

$537,500

n/a

$226

North Summit County (rural)

$4,129,300

1%

6

0%

$688,217

$476,250

$818,360

$532,500

$230

Peak 7

$9,426,500

2%

19

1%

$496,132

$490,000

$622,429

$566,000

$257

Silverthorne

$75,517,900

12%

131

10%

$576,473

$425,000

$573,159

$450,000

$240

Summit Cove

$20,477,800

3%

48

4%

$426,621

$405,000

$459,091

$425,000

$231

Wildernest

$28,402,900

5%

96

7%

$295,864

$232,500

$298,452

$232,500

$230

Woodmoor

$6,815,900

1%

17

1%

$400,935

$282,800

$412,260

$282,800

$213

Quit Claim Deeds

$3,410,600

1%

26

2%

$131,177

$51,500

$0

$0

$0

$628,279,000

100%

1365

100%

$466,668

$353,500

$497,045

$380,000

$300

$9,175,300

1%

30

2%

$305,843

$249,500

$305,528

$223,250

$187

Breckenridge

Corinthian Hills & Summerwood Dillon Town & Lake

Keystone

TOTAL (BANK SALES)

NOTES: The above figures do not include time share interests or refinance transactions. Average & Median price calculations do not include Quit Claim Deed transactions. Residential Summary includes statistically viable sales only. Average PPSF is calculated from the heated living area when available from the Summit County Assessor's Office.

Brooke Roberts

970-453-2255 broberts@ltgc.com

Frisco Land Title

Dillon Land Title

Breckenridge Land Title

60 Main Street Frisco, CO 80443

256 Dillon Ridge Dillon, CO 80435

200 North Ridge Street Breckenridge, CO 80424

970.668.2205

970.262.1883

970.453.2255

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 4

Land Title Market Snapshot by Area: Summit County September: Full Year 2012 versus YTD. 2013 Area Blue River Breckenridge Breckenridge Golf Course Copper Mountain Corinthian Hills/Summerwood Dillon Town & Lake Dillon Valley Farmers Corner Frisco Heeney Keystone Montezuma North Summit County (Rural) Peak 7 Silverthorne Summit Cove Wildernest Woodmoor

Gross Live Average:

Average Price Single Family 2012

$671,027 $1,015,584 $1,116,736 $1,700,000 $909,167 $452,467 $347,423 $442,427 $713,294 $263,000 $928,227 $186,000 $984,483 $474,974 $692,236 $492,938 $464,069 $743,792 $764,455

Average Price Single Family

Average Price Multi-Family

2013

% Change vs. Prior Year

$542,082 $1,108,959 $1,089,016 $2,500,000 $638,500 $484,800 $381,214 $469,111 $692,652 $321,875 $950,000 $537,500 $818,360 $622,429 $662,110 $548,697 $547,311 $531,989 $755,437

-19% 9% -2% 47% -30% 7% 10% 6% -3% 22% 2% 189% -17% 31% -4% 11% 18% -28% -1%

$201,357 $413,101 $476,505 $345,987 $446,357 $303,389 $115,997 $0 $380,527 $0 $355,144 $0 $0 $0 $401,826 $194,959 $232,377 $0 $353,339

2012

% Change Average Price vs. Prior Multi-Family 2013 Year

$194,500 $402,754 $386,152 $344,262 $473,333 $295,266 $106,550 $0 $393,265 $0 $335,809 $0 $0 $0 $409,303 $198,418 $236,237 $232,667 $345,573

-3% -3% -19% 0% -19% -3% -8% n/a 3% 0% -5% 0% 0% 0% 2% 2% 2% n/a -2%

Average Price Residential Land

Average Price Residential Land

2012

2013

% Change vs. Prior Year

$103,115 $636,188 $335,400 $650,000 $312,500 $0 $120,300 $149,667 $281,250 $15,000 $257,700 $0 $228,750 $135,000 $250,711 $129,050 $195,000 $226,100 $309,512

$73,337 $737,330 $331,250 $779,000 $700,000 $102,000 $99,500 $0 $296,667 $0 $236,333 $135,000 $0 $142,500 $193,262 $147,380 $0 $316,000 $328,417

-29% 16% -1% 20% 124% n/a -17% n/a 5% n/a -8% 0% n/a 6% -23% 14% n/a 40% 6%

Please note: The above figures are an unofficial tabulation of Summit County records that are believed to be reasonably accurate. Sales belived to be inaccurate indicators of the market have been eliminated. Full Interest, Fee Simple, Arms-Length transactions only, are shown in the Market Snapshot Report.

Area Blue River Breckenridge Breckenridge Golf Course Copper Mountain Corinthian Hills/Summerwood Dillon Town & Lake Dillon Valley Farmers Corner Frisco Heeney Keystone Montezuma North Summit County (Rural) Peak 7 Silverthorne Summit Cove Wildernest Woodmoor

Gross Live Median:

Brooke Roberts

970-453-2255

Median Price Single Family 2012

$535,000 $738,750 $1,125,000 dna $932,500 $381,250 $330,000 $415,000 $618,500 dna $854,000 dna $955,000 $499,000 $625,000 $440,000 $430,000 $690,000 $619,000

Median Price Single Family

Median Price Multi-Family

2013

% Change vs. Prior Year

$545,000 $787,500 $1,112,500 dna $604,500 $460,750 $410,000 $445,000 $658,000 $321,250 $1,010,000 dna $532,500 $566,000 $525,850 $555,000 $527,500 $540,000 $619,500

2% 7% -1% n/a -35% 21% 24% 7% 6% n/a 18% n/a -44% 13% -16% 26% 23% -22% 0%

$85,000 $365,000 $360,500 $346,500 $350,000 $315,000 $112,000 $0 $366,250 $0 $300,000 $0 $0 $0 $400,000 $182,500 $210,500 $0 $315,000

2012

% Change Median Price vs. Prior Multi-Family 2013 Year

$177,500 $370,000 $333,000 $313,500 $355,000 $293,000 $106,000 $0 $349,000 $0 $301,500 $0 $0 $0 $360,000 $183,900 $217,500 $253,000 $304,000

109% 1% -8% -10% 1% -7% -5% 0% -5% 0% 1% 0% 0% 0% -10% 1% 3% n/a -3%

Median Price Residential Land

Median Price Residential Land

2012

2013

% Change vs. Prior Year

$85,000 $492,000 $280,000 dna $0 $0 dna $169,000 $260,000 dna $272,500 $0 $190,000 dna $238,550 $127,450 dna $231,500 $222,500

$72,000 $660,000 $321,000 $912,000 dna dna $82,000 $0 $330,000 $0 $180,000 dna $0 $150,000 $169,500 $160,000 $0 dna $189,500

-15% 34% 15% n/a n/a n/a n/a n/a 27% n/a -34% n/a n/a n/a -29% 26% n/a n/a -15%

Frisco Land Title

Dillon Land Title

Breckenridge Land Title

60 Main Street Frisco, CO 80443

256 Dillon Ridge Dillon, CO 80435

200 North Ridge Street Breckenridge, CO 80424

970.668.2205

970.262.1883

970.453.2255

broberts@ltgc.com This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


Land Title Market Analysis: 2013 % Change % Change: 2005 through 2013 Month to Month Comparison # of Transactions and $ Volume % Month

2005

Change

% 2006

05 to 06

Change

% 2007

06 to 07

%

Change

2008

07 to 08

%

Change

2009

08 to 09

Change

% 2010

09 to 10

Change

% 2011

10 to 11

%

Change

2012

11 to 12

Change

2013

12 to 13

January February March April May June July August September October November December

$80,788,900 $72,151,200 $90,177,800 $94,438,600 $104,834,400 $112,232,799 $122,040,800 $148,269,200 $161,353,500 $152,693,400 $193,562,600 $143,084,300

6% 6% 20% 17% 31% 45% 0% -12% 36% 24% -29% 10%

$85,701,700 $76,698,900 $108,018,500 $110,949,200 $137,133,800 $162,725,600 $122,097,500 $130,811,400 $219,939,000 $188,770,200 $138,233,900 $156,795,100

-3% 15% -14% 21% 16% -13% 13% 42% -23% -22% 14% -13%

$82,933,400 $88,392,000 $92,555,500 $133,878,100 $158,745,300 $141,802,500 $138,251,700 $186,302,600 $168,704,900 $146,546,900 $156,934,000 $135,691,900

3% -27% 3% -30% -40% -35% -42% -50% -25% -19% -63% -55%

$85,497,600 $64,539,900 $95,396,600 $94,201,300 $95,667,500 $92,536,900 $80,686,100 $92,825,200 $127,090,100 $118,230,800 $58,002,400 $61,054,700

-62% -58% -60% -60% -33% -63% -41% -34% -36% -22% 12% 68%

$32,813,600 $27,246,500 $37,878,500 $37,792,900 $63,752,300 $34,049,300 $47,401,000 $60,975,000 $81,015,200 $92,709,100 $64,690,000 $102,685,700

-8% 32% -1% 8% -1% 146% -19% 31% -3% -14% -7% -31%

$30,051,500 $36,036,515 $37,425,700 $40,792,200 $63,039,000 $83,871,000 $38,565,100 $79,753,200 $78,228,400 $79,749,200 $60,172,900 $70,755,100

45% 6% 20% 63% -11% -22% -8% -17% 2% -15% -3% -13%

$43,547,400 $38,351,800 $44,858,700 $66,323,300 $56,177,600 $65,751,300 $35,555,500 $65,898,700 $79,799,400 $67,816,300 $58,524,100 $61,627,700

-8% 12% -17% -20% 22% -21% 77% 4% 10% 54% 14% 42%

$40,184,300 $43,118,700 $37,384,000 $52,777,200 $68,527,900 $52,117,600 $63,074,725 $68,804,575 $88,134,600 $104,706,100 $66,866,100 $87,217,800

33% -6% 25% 22% 18% 17% 9% 53% 21% -100% -100% -100%

$53,409,200 $40,697,000 $46,679,000 $64,326,500 $81,043,900 $61,178,100 $68,971,900 $105,465,200 $106,508,200

Year-to-Date through Sep. 30th

$986,287,199

17%

$1,154,075,600

3%

$1,191,566,000

-30%

$828,441,200

-49%

$422,924,300

15%

$487,762,615

2%

$496,263,700

4%

$514,123,600

22%

$628,279,000

Annual Total

$1,475,627,499

11%

$1,637,874,800

0%

$1,630,738,800

-35%

$1,065,729,100

-36%

$683,009,100

2%

$698,439,815

-2%

$684,231,800

13%

$772,913,600

-19%

$628,279,000

2007

Change

2008

Change

2009

Change

2010

Change

2011

Change

2012

Change

page 5

Month to Month Comparison by Number of Transactions % Month

2005

Change

% 2006

05 to 06

January February March April May June July August September October November December

Change

%

06 to 07

%

07 to 08

%

08 to 09

%

09 to 10

%

10 to 11

%

11 to 12

2013

12 to 13

215 171 262 247 263 305 323 400 445 389 381 298

-11% 6% 2% 12% 18% 11% -3% -27% 0% 3% -14% -9%

192 181 266 276 310 340 312 291 444 400 326 271

-4% -8% -23% -5% 5% -17% -4% 24% -32% -22% -14% -19%

185 166 206 261 324 283 301 361 301 311 281 220

-11% -23% -21% -38% -50% -45% -55% -49% -33% -43% -63% -55%

165 128 162 163 162 155 136 183 201 176 105 98

-67% -57% -56% -58% -46% -48% -30% -38% -27% -9% 29% 82%

54 55 71 68 88 80 95 114 147 160 135 178

0% 20% 21% 34% 7% 73% -21% 3% 1% -4% 4% -13%

54 66 86 91 94 138 75 117 149 154 141 154

61% 35% 19% 16% 14% -25% 31% 28% 9% 5% 1% -9%

87 89 102 106 107 104 98 150 162 161 142 140

10% -11% -21% 7% 25% 5% 29% 6% -2% 43% 8% 32%

96 79 81 113 134 109 126 159 158 230 154 185

13% 16% 46% 19% 18% 28% 23% 36% 54% -100% -100% -100%

108 92 118 134 158 140 155 216 244

Year-to-Date through Sep. 30th

2,631

-1%

2,612

-9%

2,388

-39%

1,455

-47%

772

13%

870

16%

1,005

5%

1,055

29%

1,365

Annual Total

3,699

-2%

3,609

-11%

3,200

-43%

1,834

-32%

1,245

6%

1,319

10%

1,448

12%

1,624

-16%

1,365

Please note: The above figures do not include time share interests or Refi's and are an unofficial tabulation of Summit County records that are believed to be reasonably accurate.

Brooke Roberts

970-453-2255

Dillon Land Title

Frisco Land Title

Breckenridge Land Title

256 Dillon Ridge Dillon, CO 80435

60 Main Street Frisco, CO 80443

200 North Ridge Street Breckenridge, CO 80424

970.262.1883

970.668.2205

970.453.2255

broberts@ltgc.com

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 6 Frisco Land Title

Dillon Land Title

60 Main Street Frisco, CO 80443

256 Dillon Ridge Dillon, CO 80435 970.262.1883

Breckenridge Land Title 200 North Ridge Street Breckenridge, CO 80424 970.453.2255

Land Title Residential Cost Analysis: Summit County September

2013 Residential Improved Units - Price Point Summary

<=200,000 200,001 to 300,000 300,001 to 400,000 400,001 to 500,000 500,001 to 600,000 600,001 to 700,000 700,001 to 800,000 800,001 to 900,000 900,001 to 1,000,000 1,000,001 to 1,500,000 1,500,001 to 2,000,000 2,000,001 to 2,500,000 2,500,001 to 3,000,000 over $ 3 Million Total:

# Transactions 28 45 34 25 18 14 16 4 4 10 3 0 0 0 201

Gross Volume $4,165,800 $11,588,700 $12,094,400 $11,134,800 $9,943,300 $9,100,700 $11,977,000 $3,386,000 $3,870,000 $12,632,000 $5,257,200 $0 $0 $0 $95,149,900

Percentage Gross 4% 12% 13% 12% 10% 10% 13% 4% 4% 13% 6% 0% 0% 0% 100%

New Construction Single Family Multi Family Vacant Land

Number Trans. 2 3 0

Total Volume $1,093,000 $1,868,300 $0

Average Price $546,500 $622,767 $0

Resales Single Family Multi Family Vacant Land

Number Trans. 69 127 15

Total Volume $47,346,000 $44,842,600 $3,468,900

Average Price $686,174 $353,091 $231,260

September 2013 Gross Residential Price Index Single Family Multi Family Vacant Land

Number Trans. 71 130 15

Total Volume $48,439,000 $46,710,900 $3,468,900

Average Price $682,239 $359,315 $231,260

YTD. 2013: Gross Residential Price Index Single Family Multi Family Vacant Land

Number Trans. 408 696 93

Total Volume $308,218,300 $240,519,000 $30,542,800

Average Price $755,437 $345,573 $328,417

Full Year 2012: Gross Residential Price Index Single Family Multi Family Vacant Land Full Year 2011: Gross Residential Price Index Single Family Multi Family Vacant Land Full Year 2010: Gross Residential Price Index Single Family Multi Family Vacant Land Full Year 2009: Gross Residential Price Index Single Family Multi Family Vacant Land Full Year 2008: Gross Residential Price Index Single Family Multi Family Vacant Land Full Year 2007: Gross Residential Price Index Single Family Multi Family Vacant Land Full Year 2006: Gross Residential Price Index Single Family Multi Family Vacant Land

Number Trans. 509 805 114

Total Volume $389,107,600 $284,438,000 $35,284,400

Average Price $764,455 $353,339 $309,512

Number Trans. 454 722 91

Total Volume $333,355,100 $265,175,800 $22,429,500

Average Price $734,262 $367,280 $246,478

Number Trans. 415 691 77 Number Trans. 392 655 69 Number Trans. 470 1001 151 Number Trans. 801 1779 334

Total Volume $319,880,900 $293,730,300 $25,920,100 Total Volume $354,771,700 $260,723,700 $27,532,700 Total Volume $392,827,200 $464,096,800 $71,009,300 Total Volume $639,910,300 $723,215,400 $130,790,200

Average Price $770,797 $425,080 $336,625 Average Price $905,030 $398,051 $399,025 Average Price $835,803 $463,633 $470,260 Average Price $798,889 $406,529 $391,587

Number Trans. 874 1978 447

Total Volume $644,359,000 $659,665,700 $139,442,300

Average Price $737,253 $333,501 $311,951

Brooke Roberts 970-453-2255 broberts@ltgc.com

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 7

Land Title Average Price History by Property Type: Summit County 2006 - YTD. 2013 $905,030 $835,803 $798,889 $737,253 $770,797

$755,437 $764,455

$734,262 $463,633

$470,260

$425,080 $345,573

$367,280

$399,025 $336,625

$406,529

$398,051

$328,417

$353,339

$333,501

$309,512

$391,587

$311,951

$246,478

Single Family YTD. 2013

Multi Family 2012

2011

2010

Vacant Land 2009

Brooke Roberts

970-453-2255

broberts@ltgc.com

2008

2007

2006

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 8 Frisco Land Title 60 Main Street Frisco, CO 80443 970.668.2205

Dillon Land Title

Breckenridge Land Title

256 Dillon Ridge Dillon, CO 80435 970.262.1883

200 North Ridge Street Breckenridge, CO 80424 970.453.2255

Land Title Comparative Historical Cost Analysis YTD. 2013 Price Point Summary for Residential Volume <=200,000 200,001 to 300,000 300,001 to 400,000 400,001 to 500,000 500,001 to 600,000 600,001 to 700,000 700,001 to 800,000 800,001 to 900,000 900,001 to 1,000,000 1,000,001 to 1,500,000 1,500,001 to 2,000,000 2,000,001 to 2,500,000 2,500,001 to 3,000,000 over $ 3 Million Total:

# Transactions 144 231 220 127 107 79 58 28 21 59 19 2 4 5 1104

Gross Volume $21,516,500 $57,541,500 $77,107,200 $56,258,700 $59,325,500 $51,378,600 $43,335,200 $23,568,400 $20,101,800 $73,758,100 $31,547,900 $4,525,000 $10,940,000 $17,832,900 $548,737,300

Percentage Gross 4% 10% 14% 10% 11% 9% 8% 4% 4% 13% 6% 1% 2% 3% 100%

Gross Volume $14,894,775 $39,221,400 $50,387,800 $52,189,500 $48,418,925 $44,461,200 $26,423,500 $27,179,000 $21,877,200 $64,501,800 $17,280,000 $8,700,000 $13,285,000 $12,537,600 $441,357,700

Percentage Gross 3% 9% 11% 12% 11% 10% 6% 6% 5% 15% 4% 2% 3% 3% 100%

Gross Volume $16,055,700 $37,680,600 $54,854,300 $41,409,500 $43,319,400 $37,706,900 $32,372,100 $26,411,700 $16,339,800 $45,670,500 $41,240,600 $22,415,000 $5,534,000 $6,975,000 $427,985,100

Percentage Gross 4% 9% 13% 10% 10% 9% 8% 6% 4% 11% 10% 5% 1% 2% 100%

YTD. 2012 Price Point Summary for Residential Volume <=200,000 200,001 to 300,000 300,001 to 400,000 400,001 to 500,000 500,001 to 600,000 600,001 to 700,000 700,001 to 800,000 800,001 to 900,000 900,001 to 1,000,000 1,000,001 to 1,500,000 1,500,001 to 2,000,000 2,000,001 to 2,500,000 2,500,001 to 3,000,000 over $ 3 Million Total:

# Transactions 100 157 143 117 89 69 35 32 23 52 10 4 5 3 839

YTD. 2011 Price Point Summary for Residential Volume <=200,000 200,001 to 300,000 300,001 to 400,000 400,001 to 500,000 500,001 to 600,000 600,001 to 700,000 700,001 to 800,000 800,001 to 900,000 900,001 to 1,000,000 1,000,001 to 1,500,000 1,500,001 to 2,000,000 2,000,001 to 2,500,000 2,500,001 to 3,000,000 over $ 3 Million Total:

# Transactions 107 152 156 92 78 58 43 31 17 39 24 10 2 2 811

Brooke Roberts 970-453-2255 broberts@ltgc.com

This report is provided to you compliments of Land Title Guarantee Company,

proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 9

Land Title Lender Analysis: Summit County Top 80% Lenders - September 2013 LOAN BREAKDOWN: 142 Loans related to Sales: 58% of the 244 Sales Transactions. There were 151 Refinance/Equity Loans, and 175 Loans related to Timeshare Sales. The Remainder of Sales: 42% of Real Estate closings were Cash Transactions at the time of closing. Total Loans: 468

FIFTH THIRD MORTGAGE COMPANY, 4, 1% INTERBANK MORTGAGE COMPANY, 4, 1%

VECTRA BANK COLORADO, NA, 4, 1%

STEARNS LENDING, INC., 4, 1%

ALL OTHER LENDERS, 94, 20% BRECKENRIDGE GRAND VACATIONS, 172, 37%

GREEN TREE SERVICING, LLC, 5, 1% CENTENNIAL BANK, 5, 1% TOWN OF BRECKENRIDGE, 6, 1% OWNER CARRY, 6, 1% JPMORGAN CHASE BANK, NA, 6, 1% ALPINE BANK, 7, 1%

CHERRY CREEK MORTGAGE, INC., 6, 1% QUICKEN LOANS, INC., 7, 1% BANK OF AMERICA, NA, 8, 2%

US BANK, NA, 9, 2% BOKF, NA, 24, 5%

WELLS FARGO BANK, NA, 38, 8% FIRSTBANK, 49, 10%

MEGASTAR FINANCIAL CORP, 10, 2% Brooke Roberts

970-453-2255

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright ©2011. All Rights Reserved.

broberts@ltgc.com


page 10

Land Title Market Highlights: Summit County Highest Priced Residential Sale: September 2013 Brm

Bath

Year Built

Size

4

7.00

2007

5326

Price $

1,950,000

Legal

Purchaser

Eagles Nest Golf Course Subd #1 Lot 16

P:Mark A. Peters

PPSF $

366.13

Date

Street Address

Bank Reference

9/9/2013

0115 Bull Lake Court

Date

Street Address

9/23/2013

1521 Ski HIll Road

Date

Street Address

Bank Reference

9/6/2013 9/30/2013 9/18/2013

0048 Trout Drive 0100 Dercum Square 6954 Ryan Gulch Road

Bank: Secretary of Housing & Urban Development Bank: FNMA Bank: Secretary of Housing & Urban Development

Highest Price PSF Residential Sale: September 2013 Brm

Bath

Year Built

Size

1

2.00

2008

698

Price $

691,400

Legal

Purchaser

One Ski Hill Place Condo Unit 8306

P:Juvedisc, LLC

PPSF $

990.54

Bank Reference

Bank Sales Detail: September 2013 Brm

Bath

Year Built

Size

3 0 2

3.00 1.00 2.00

2002 1997 1979

2552 496 958

Price $ $ $

217,500 144,000 154,000

Legal Dudley Hill Subd Lot 48-50, Block 3 Buffalo Lodge & Dakota Condo Unit 8369 Villamont Condo Unit 6954, Building 10

Purchaser

PPSF

P:Brian S. Ginther P:Chesen Beattie Frey P:Interlaken Ventures, LLC

$ $ $

85.23 290.32 160.75

Brooke Roberts 970-453-2255 broberts@ltgc.com

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years . Copyright Š2011. All Rights Reserved.


page 11

Land Title Foreclosure Process Document Breakdown: Summit County September 2013: #1 Notice of Election & Demand for Sale: (NED) #2 Certificate of Purchase: (CTP) #3 Public Trustee's Deeds: (PTD) Total Foreclosure Documents Filed:

Total

Timeshare 8 0 3 11

Unknown: No legal shown

Fee Simple 0 0 0 0

8 0 3 11

0 0 0 0

STEP #1: Notice of Election & Demand for Sale: This is the first step in the process of foreclosure when an owner is in default. This starts the foreclosure timeline. Possible outcomes are deferrment, cure, withdrawl certificate of purchase, and finally Public Trustee's Deed. This is not a sale of the property it is a Notice of Action. There is no Doc Fee. STEP #2: Certificate of Purchase: The Public Trustee must offer the sale of the qualifying debt at a Public Auction. The sale of the debt must ALWAYS be higher than the debt itself to protect the Lien holder, including fees and outstanding interest unless the lein holder has agreed in advance in writing that there will be unpaid debt to be settled in another fashion, and that they guarantee that amount will be paid. This is for the NED debt only, there could be other debts/liens/fees/judgements against any given property, it is up to the bidder to research this aspect of their investment. The Certificate of Purchase is the purchase of a lien only. It is not the sale of the property, it is sale of the debt. There is no Doc Fee. STEP #3: Public Trustee's Deed: After the redemption period where all debts are settled and the property is cleared, the entity that has possession of the Certificate of Purchase can THEN request a Public Trustee's Deed to transfer the title of the property to them by paying the applicable fees and providing the paperwork. This can only happen if the property has not been redeemed, cured, deferred or withdrawn from the process and all debts including judgements/lients & other fees have been settled. It is not a market sale of the property, but it does transfer property rights to the Certificate of Purchase holder. There is no Doc Fee. AFTER THE LAST STEP: Once the Bank receives the Public Trustee's Deed, they are the legal owners and now free to Re-Sell the property via Warranty Deed. All of these Re-Sales are shown in our Monthly Market Analysis, as they are market transactions and they do have a Doc Fee.

Brooke Roberts 970-453-2255 broberts@ltgc.com

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 12

Land Title Summary of Foreclosure Actions: Summit County Property Foreclosure Summary: Fee Simple Actions Timeshare Actions Unknown Actions

123 63 4

Property Type Breakdown: Single Family Actions Multifamily Actions Vacant Land Actions Commercial Actions Development Actions Unknown Actions Timeshare

61 53 6 3 0 4 63

Location Summary: ALL TYPES Blue River Breckenridge Breckenridge Golf Course Central Summit County Copper Mountain Corinthian Hill & Summerwood Dillon, Town & Lake Dillon Valley Farmers Corner Frisco Heeney Keystone Montezuma North Summit County Rural Peak 7 Silverthorne Summit Cove Wildernest Woodmoor

5 91 3 0 4 1 5 7 1 8 1 16 2 5 3 11 9 13 1

Foreclosure Document Summary: Property Type YTD: 2013

Foreclosure Document Summary by Category: YTD: 2013

Timeshare Unknown Actions Development Actions Commercial Actions Vacant Land Actions Multifamily Actions Single Family Actions

140 120 100 80 60 40 20 0

Fee Simple Actions 0

20

Location Summary: Fee Simple Only Blue River Breckenridge Breckenridge Golf Course Central Summit County Copper Mountain Corinthian Hill & Summerwood Dillon, Town & Lake Dillon Valley Farmers Corner Frisco Heeney Keystone Montezuma North Summit County Rural Peak 7 Silverthorne Summit Cove Wildernest Woodmoor

40

60

5 28 3 0 4 1 5 7 1 8 1 16 2 5 3 11 9 13 1

106 4 80

Unknown Actions

Foreclosure Document Summary: Fee Simple Only - Location by Market Area YTD: 2013 Woodmoor, 1, 1% Blue River, 5, 4%

Summit Cove, 9, 7% Wildernest, 13, 11%

Breckenridge, 28, 23%

Silverthorne, 11, 9%

Central Summit County, 0, 0%

Breckenridge Golf Course, 3, 2%

Copper Mountain, 4, 3% North Summit County Rural, 5, 4%

Montezuma, 2, 2%

Dillon, Town & Lake, 5, 4%

Peak 7, 3, 2% Dillon Valley, 7, 6% Corinthian Hill & Summerwood, 1, 1%

Keystone, 16, 13%

Frisco, 8, 7%

* Location Summaries do not inlcude recordings with Unknown Legal Descriptions

Document Summary: Notice of Election (NED) Certificate of Purchase (CTP) Public Trustee's Deed (PTD)

Timeshare Actions

80

Heeney, 1, 1%

Farmers Corner, 1, 1%

Foreclosure Document Summary: YTD: 2013 Notice of Election (NED)

80 106

Certificate of Purchase (CTP) Public Trustee's Deed (PTD)

4

Brooke Roberts 970-453-2255 broberts@ltgc.com

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 13

Land Title Historical Foreclosure Summary: Summit County 2009 Summit County Foreclosure Summary: Notice of Election & Demand for Sale: (NED) Withdrawn NED'S Active NED's for 2009: Public Trustee's Deeds Issued: (PTD)

2010 Summit County Foreclosure Summary:

300 117 183 86

2011 Summit County Foreclosure Summary:

Active NED's for 2010:

367 162 205

Public Trustee's Deeds Issued: (PTD)

148

Notice of Election & Demand for Sale: (NED) Withdrawn NED'S

2012 Summit County Foreclosure Summary: Notice of Election & Demand for Sale: (NED)

Active NED's for 2011:

326 148 178

Active NED's for 2012:

251 132 119

Public Trustee's Deeds Issued: (PTD)

227

Public Trustee's Deeds Issued: (PTD)

165

Notice of Election & Demand for Sale: (NED) Withdrawn NED'S

Withdrawn NED'S

2013 Summit County Foreclosure Summary: Notice of Election & Demand for Sale: (NED) Withdrawn NED'S

106 n/a

Active NED's for 2013: Public Trustee's Deeds Issued: (PTD)

80

*data is obtained from the Summit County Treasure's Office; it is deemed reliable but it is not guaranteed.

Brooke Roberts 970-453-2255 broberts@ltgc.com

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.


page 14

Land Title Top Lender List: Summit County LENDER BRECKENRIDGE GRAND VACATIONS FIRSTBANK WELLS FARGO BANK, NA BOKF, NA MEGASTAR FINANCIAL CORP US BANK, NA BANK OF AMERICA, NA ALPINE BANK QUICKEN LOANS, INC. CHERRY CREEK MORTGAGE, INC. JPMORGAN CHASE BANK, NA OWNER CARRY TOWN OF BRECKENRIDGE CENTENNIAL BANK GREEN TREE SERVICING, LLC FIFTH THIRD MORTGAGE COMPANY INTERBANK MORTGAGE COMPANY STEARNS LENDING, INC. VECTRA BANK COLORADO, NA ALL OTHER LENDERS BANK OF THE WEST BERKLEY BANK VALDORO DEVELOPMENT, LLC W J BRADLEY MORTGAGE CAPITAL, LLC AMERICAS MORTGAGE, LLC CITIBANK, NA COLORADO CAPITAL GROUP, LLC COLORADO MORTGAGE ALLIANCE, LLC COLORADO STATE BANK & TRUST ELEVATIONS CREDIT UNION GOLDWATER BANK, NA GUARANTEED RATE, INC. MORGAN STANLEY PRIVATE BANK, NA. MOUNTAIN TROPIC CONNECTIONS, INC. NOVA FINANCIAL & INVESTMENT PACIFIC UNION FINANCIAL, LLC SUMMIT COMBINED HOUSING AUTHORITY TCF NATIONAL BANK USAA, FSB ADVANCIAL FEDERAL CREDIT UNION AFFILIATED MORTGAGE COMPANY AMERICAS MORTGAGE COMPANY, LLC BROKER SOLUTIONS INC CAPITAL CITY MORTGAGE INVESTMENTS, INC. CEFCU CENTRAL TRUST BANK CITY FIRST MORTGAGE SERVICES, LLC COLE TAYLOR BANK COLORADO LENDING SOURCE, LTD COMMUNITY BANKS OF COLORADO DISCOVER HOME LOANS, INC. ENT FEDERAL CREDIT UNION FAIRWAY INDEPENDENT MORTGAGE FEDERAL HOME LOAN BANK OF TOPEKA FIRST CHOICE BANK FIRST CHOICE LOAN SERVICES INC FIRST NATIONAL BANK FREEDOM MORTGAGE CORP GUARANTY BANK & TRUST COMPANY HAMILTON GROUP FUNDING, INC. HIGH COUNTRY BANK INTEGRATED CAPITAL INVESTMENTS, LLC INTELLIGENT INVESTMENTS, INC. LAND HOME FINANCIAL SERVICES LEADERONE FINANCIAL CORP LIBERTY SAVINGS BANK, FSB MORTGAGE LENDERS OF AMERICA, LLC MUTUAL OF OMAHA BANK NATIONSTAR MORTGAGE, LLC NG WHITE CLOUD, LP PARK STATE BANK & TRUST PENTAGON FEDERAL CREDIT UNION PEOPLES NATIONAL BANK PHH HOME LOANS, LLC PMB PRIM FUND, LLC PRIMARY RESIDENTIAL MORTGAGE, INC. PRIMELENDING PROFESSIONAL MORTGAGE SOURCE, LLC Q FINANCIAL INC REGIONS BANK REVERSE MORTGAGE SOLUTIONS, INC. SECRETARY OF HOUSING & URBAN DEVELOPMENT STIFEL BANK & TRUST SUMMIT MORTGAGE CORP SUNTRUST MORTGAGE, INC. TALMER BANK & TRUST TAYLOR MORTGAGE GROUP,LLC TRANSWEST CREDIT UNION UBS BANK USA UNIVERSAL LENDING CORP VETERANS UNITED HOME LOANS ALL LOANS FOR SEPTEMBER 2013:

NUMBER LOANS 172 49 38 24 10 9 8 7 7 6 6 6 6 5 5 4 4 4 4 94 3 3 3 3 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 468

PERCENTAGE TOTAL 36.75% Top Lenders for September 2013 10.47% Summit County 8.12% 5.13% 2.14% 1.92% 1.71% 1.50% 1.50% 1.28% 1.28% 1.28% 1.28% 1.07% 1.07% 0.85% 0.85% 0.85% 0.85% 20.09% 0.64% 0.64% 0.64% 0.64% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.43% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 0.21% 100.00%


page 15

Land Title Purchaser Profile Highlights & Abstract: Summit County Upper End Purchaser Details: September 2013 Brm 0 4 4 4 5 4 4 4 3 4 4 4 4 5 4

Bath 0.00 7.00 5.00 4.00 4.00 3.00 3.00 4.00 3.00 4.00 5.00 4.00 5.00 4.00 5.00

Year Built 1978 2007 2008 1967 1994 1997 1999 2005 2006 1995 2007 1998 2006 1997 2006

Size 7557 5326 4978 3058 4629 2701 2134 3477 3498 3323 4026 3593 3789 4930 4423

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

Price 2,792,000 1,950,000 1,732,200 1,575,000 1,500,000 1,380,000 1,350,000 1,305,000 1,275,000 1,275,000 1,237,000 1,190,000 1,100,000 1,020,000 1,000,000

Legal Stiles Addn Subd Parcel A, Block 3 Eagles Nest Golf Course Subd #1 Lot 16 Highlands @ Breck Discovery HIll Subd #2 Lot 134 Weisshorn Subd #2 Lot 17, Block 10 Pioneer Creek Ranch Subd Tract G Gilrose Subd Lot 10 Saddlewood Condo Unit 15 Alders Subd Lot 7 Highlands @ Breck Subd #10 Lot 14 Swan River Valley PUD Lot 3A, Block B Revetts Landing Subd Lot 2 Highlands @ Breck Subd #5 Lot 145 Corinthian Hill Subd Lot 353B, Block 3 Mesa Cortina West Subd Lot 6, Block 5 Whispering Pines Ranch Subd Lot 17, Block 2

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $

PPSF 369.46 366.13 347.97 515.04 324.04 510.92 632.61 375.32 364.49 383.69 307.25 331.20 290.31 206.90 226.09

Date 9/12/2013 9/9/2013 9/10/2103 9/17/2013 9/9/2013 9/4/2013 9/4/2013 9/10/2013 9/9/2013 9/26/2013 9/23/2013 9/27/2013 9/27/2013 9/16/2013 9/9/2013

Street Address 0320 South Main Street 0115 Bull Lake Court 1227 Discovery Hill Drive 0128 North Gold Flake Terrace 0731 Pioneer Creek Road 0239 Davenport Loop 0006 Bluff Court 0065 Tieze Lane 0197 Westerman Road 1781 Tiger Road 0182 Campion Trail 0282 Highlands Drive 0353B Ensign Drive 0024 Solomons Lane 0034 Snow Peak Court

Origin of Buyer: City VAIL CENTENNIAL BELLAIRE BRECKENRIDGE RIDGEFIELD SAINT ALBANS CARMEL SAINT LOUIS MENDOTA LITTLETON AUSTIN HOUSTON DILLON AUSTIN PERU

Origin of Buyer: State CO CO TX CO CT MO IN MO IL CO TX TX CO TX IL

Purchaser Abstract: September 2013

All Sales: September 2013 Origin of Buyer

This report is provided to you compliments of Land Title Guarantee Company, proudly serving our Community for over 47 Years. Copyright Š2011. All Rights Reserved.

Brooke Roberts 970-453-2255 broberts@ltgc.com

Local Front Range Out of State: Domestic International Total Sales

September 2013 # of Trans. 57 82 99 6 244

% Overall

# of Trans. 364 522 465 14 1365

% Overall

23% 34% 41% 2% 100%

All Sales: YTD: Sept. 2013 Origin of Buyer Local Front Range Out of State: Domestic International Total Sales

99

6

57

Front Range

82

Out of State: Domestic International

YTD: Sept. 2013 27% 38% 34% 1% 100%

Local

465 14

364

522

Local Front Range

Out of State: Domestic International

Summitseptember2013 analysis  

Summit County CO Market Analysis

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