We conducted a Grand Lake Area Real Estate Symposium recently for 100 local business, government and Real Estate people. The speakers included the Region Vice President for NAR, the Region Department of Commerce representative, the Oklahoma House of Representative member, and me, Jeff Savage. For that Symposium, I prepared an in-depth study of the local Real Estate market – analyzing the last five years. I would some of my findings with you in the attached presentation. We’ve heard about the National real estate market and what’s going on around the country. That does have some effect on our market as people try to sell homes in California, Arizona, Colorado and around the country to buy property at Grand Lake. We’ve heard the Oklahoma State economy is running strong with 2.9% unemployment, which can influence the decision to buy property at Grand Lake. Real Estate is local, and Oklahomans are buying or selling their homes in the local housing market. NOW, let’s focus on that local market, our four counties in Northeast Oklahoma – Delaware, Ottawa, Craig and Mayes

1. 2008 Grand Lake Area Real Estate Symposium

2. SPONSORS: RE/MAX Grand Lake Grand River Abstract & Title Grand Savings Bank Grand Lake Association Wells Fargo The Real Estate Book Enterprise Builders – Craig Criger Shelter Insurance – Mark Lee Helicopter Advantage.com

3. Real Estate Statistics Jeff Savage 2008 Grand Lake Area Real Estate Symposium

4. Real Estate Acronyms, Terminology and Definitions DOLLAR VOLUME Total dollars spent in that property category. AVERAGE SOLD PRICE Total Dollars Spent divided by number of units sold in that property category. Luxury Home Market In this instance, we will simply use the price point representing the upper 5% of the market, or $500,000+

6. Comparable Sale Prices are Lower than Active Listing Prices

7. Median Sale Prices are IncreasingDays on Market will be Decreasing

9. Median Sale Prices are Decreasing

10. Comparable Sale Prices are Higher than Active Listing PricesDays on Market is Increasing

12. All Property Types

13. All Property Types

14. Residential Waterfront

15. Residential Waterfront

16. Residential (not Water Front)

17. Residential (not Water Front)

18. Luxury Home Market

19. Luxury Home Market

20. Water Front Lots

21. Water Front Lots

22. Condos and Townhomes

23. Farms and Ranches

24. Commercial

25. Number of Sold Transactions

26. Days on the Market

27. Grand Lake Real Estate The Stock Market vs Let’s see the future value of this $200,000 in 5 years for those investments

29. The S&P 500 saw an annual increase of 9.28% during the same periodGrand Lake Water Front Homes saw an annual increase of 11.7% during the same period

30. Grand Lake Water Front Homes vsStock Market

32. 2008 Grand Lake Area Real Estate Symposium

33. SPONSORS RE/MAX Grand Lake Grand River Abstract & Title Grand Savings Bank Grand Lake Association Wells Fargo The Real Estate Book Enterprise Builders – Craig Criger Shelter Insurance – Mark Lee Helicopter Advantage .com