Sunriver Market update for Q3 09

Early this quarter I was very hopeful that we had a shot at beating last years 3rd quarter numbers and starting to feel the market turning around. Unfortunately I do not think we are going to get the job done this quarter.

Q3 2008 had 25 closed transactions in Sunriver for a total volume of $12.8 million. So far in Q3 2009 we have 7 closed transactions and 17 pending transaction for a total of 25 with an estimated value of $9 million which at this point is likely to be the best we will do this quarter. This assumes that all 17 pending sales close by 9/30/09. The good news is we have the same number of transactions, they just reflect a much lower average sales price.

Q4 2008 had 27 transactions and a total $ volume of $14.4 million, so at this time I would have to estimate that if we do not see a return of the high end buyers before the end of this year we will not start to see year over year increases until Q2 2010.