Current Market Conditions

Delta Associates reports in the State of the Mid Atlantic Condominium 3rd Quarter 2007 report "Contrary to Reports in the Popular Press, Prices are Stable Region Wide."

A few key points of this report include:

• Credit crunch & summer slow sales
• Pipeline continues downward trend
• Effective prices flat; Concessions edge up from a year ago
• "Some parts of the metro area will recover faster than others, but we still think within the next 12 to 18 months, we should be within grasp of being near 2 to 2.5 years worth of inventory where prices will have real traction..."