Dominant Broker Leads the Region’s Market:

Fairfax, VA, — All of the Long & Foster Companies reported 2007 sales of $61 billion compared to $65.1 billion for 2006, a decline of 9%. The numbers include; Long & Foster® Real Estate, Inc., with $35.4 billion in sales on 95,871 property transactions, down 12 percent from 2006; Prosperity Mortgage®, Mid-States Title, and Long & Foster Insurance added real estate equivalent sales volumes of $25.6 billion, down just 5%.

“Current market conditions represent a unique buying opportunity for savvy homebuyers”, said Wes Foster, chairman of the board and chief executive officer of The Long & Foster Companies. “Our Mid-Atlantic marketplace has sound local advantages over many other parts of the country which have been greatly affected by the nation’s economic downturn. We are extremely confident in the future of both our region and our growing homeownership company,” Foster said. “Long & Foster is the dominant broker in market share in the Mid-Atlantic region and we continue to outperform the market as a whole in sales volume throughout our footprint”, he concluded. The top five selling offices in the Company were as follows, (in descending order): Bethesda/Gateway, Md., ($1.2 billion); McLean, Va. ($760 million); Clarksville-River Hill, Md., ($660 million); Bethesda Avenue, Md. ($587 million), and Friendship Heights, D.C., ($535 million).

About The Long & Foster Companies
Long & Foster® Real Estate, Inc. is the largest privately-owned real estate firm in America. The firm has 245 residential real estate sales offices throughout Maryland, Virginia, the District of Columbia, Delaware, Pennsylvania, West Virginia, New Jersey, and North Carolina, with 16,000 Sales Associates and annual real estate sales for 2007 of $35.4 billion on 95,871 properties sold. 2007 sales for all the Long & Foster Companies totaled $61 billion worth of homes, mortgages, insurance, title insurance, and settlement services.