The 2015 Fall Real Estate Market is Changing…For Better or Worse?

Real Estate Fun Fact

One of the largest and most expensive homes in Kings Point Long Island's North Shore is up for sale for $100 Million.

Circa 1928

Real Estate’s Hot Topics

� How to Prepare Your Home for the Winter

� Impact of Chinese Stock Market Crash on Real Estate

� Real Estate is Up - Now’s the Time to SELL

� You Don’t Need a Large Down Payment

� Long Island Housing Activity Is Up Overall

Preparing Your Home for the Fall

� Tune Up Your Heating System: Get a technician to inspect your furnace or heat pump to be sure the system is clean and in good repair.

� Reverse Your Ceiling Fans: If your ceiling fan has a reverse switch, use it to run the fan's blades in a clockwise direction after you turn on your heat.

� Clean the Gutters: If your gutters are full of detritus, water can back up against the house and damage roofing, siding and wood trim.

� Turn Off Exterior Faucets: Undrained water in pipes can freeze, which will cause pipes to burst as the ice expands. Start by disconnecting all garden hoses ice expands. Start by disconnecting all garden hoses and draining the water that remains in faucets.

� Drain Your Lawn-Irrigation System: Draining sprinkler-system pipes, as with spigots, will help avoid freezing and leaks.

� Don't Prune Trees or Shrubs Until Late-Winter: Horticulturalists advise waiting to prune until late winter for most plants, when they've been long dormant and just before spring growth begins.

� Call a Chimney Sweep: Before you burn the Yule log, make sure your fireplace, chimney and vents are clean and in good repair.

� Restock Winter Essentials: Make sure you have snow shovels and a roof rake on hand. Stock your ice melting compound to melt ice on walkways. Have your snow blower and generator serviced and any necessary repairs made.

Time to Sell? Buyers are Out!

� The national market appears to be making headway each month. Metro markets are making a comeback, meaning homeowners in these areas who have been waiting for the right time to put their properties on the market may finally decide to do so this year.

� Homeowners may be underestimating their home equity. If homeowners believe that large down payments are now required to purchase a home, then underestimates of their home equity could be deterring them from then underestimates of their home equity could be deterring them from applying for mortgages, selling their homes and buying a different one.� Fanne Mae

� 52% of Americans say they are likely to buy a home in the next 5 years. � BMO Harris Bank Home Buying Report

Now is a good time to sit with a Real Estate Professional to determine the

equity you have in your home. It could be a good time to move-up or

buy a vacation home!

The Real Estate Market is Up!

� The average sales price for homes purchased in May was $203,500, which was 7.1% higher than the median 12 months earlier.� RE/MAX

� The S&P/Case-Shiller Home Price Indices’ (HPI) 10- and 20-city composites improved in January from both the previous January from both the previous month and previous year by at least 4% across the board.� S&P/Dow Jones Indices

� As of March 2015, nationwide home price gains have been at least 4% on an annual basis for roughly three years. � S&P/Dow Jones Indices

Real Estate is Up…cont

� April data shows a seasonally adjusted annual rate of 517,000 homes came off the market during the month — 107,000 higher than the year before.� Department of Housing & Urban

Development

� During the first quarter of 2015, there were 1.55 million there were 1.55 million residential loan originations — a 6% quarterly decline but a 17% annual increase. � RealtyTrac

� National home prices increased 5.7% on a year-to-year basis in January — the 35th consecutive month with an annual rise in sale prices. � CoreLogic

Real Estate is Still the Best Investment

Americans have put real estate back into first place as the best of all

investments. Princeton Survey Research Homeownership

Housing market statistics across the nation have indicated

homeownership is on the rise in just about every area of the U.S. just about every area of the U.S.

The health of once-hurting markets, like Florida and

Arizona, is on the mend, while the cream-of-the-crop markets,

including New York and California, continue to see their

real estate conditions better nearly across the board.

LONG ISLAND HOUSING NUMBERS ARE UP

“The August housing numbers show robust contracted sales activity and a steady rise in closed median home prices in Nassau, Suffolk, and Queens. This is a good indication that buyers have regained confidence that real estate is still a good

long-term investment. We are currently on track to have the strongest local housing performance since 2006.” Joseph E. Mottola – CEO, Multiple Listing Service of Long Island, Inc.

� The closed median home price in August 2015 for Long Island, which includes Nassau, Suffolk, and Queens’s housing data, has climbed to $410,000 representing a 2.8% increase over last year.

� Nassau County reported a $470,000 closed median home price in August, representing a slight increase over $468,500 reported by MLSLI last year.

� Suffolk County reported a closed median price of $347,500, which represents a 3.7% increase over a year ago.

� Queens reported a closed median home price of $425,000, which represents a 6% increase over last year.

What’s New in the Mortgage Industry

� Freddie Mac released the results of its Primary Mortgage Market Survey, showing average fixed mortgage rates falling to their lowest since May 2015 amid China’s volatility.

� The 30-year mortgage rate dropped to 3.84%, the lowest dropped to 3.84%, the lowest mark since May and the 5 consecutive week with a rate below 4%.

� Statistics show that 1 in 5 borrowers who took out conforming, conventional mortgages put down 10% or less

Chinese Stock Market Crash & Real Estate

� The Chinese stock market lost 30% of its value and continues to see major swings.

� China’s stock market volatility has created more interest in foreign investment. Chinese see US real estate as a relatively moderate risk, high-return investment.

� Wealthy Chinese are the largest group of foreign real-estate buyers in the U.S. with 16% of the single homes and condos purchased by foreign buyers snapped up by Chinese last year.

� US National Homebuyers Association

� More and more Chinese buyers will be eyeing residential property as an investment

� Gudell, Chief Economist at Zillow

Nassau County By The Numbers

Nassau County At a 2 Year Glance

Suffolk County By The Numbers

Suffolk County At a 2 Year Glance

By the Numbers – Port Washington

Port Washington

Median sold price is up

Sold prices increased 2.5% from Aug Apr 2014

Port Washington at a 2 Year Glance

By the Numbers - Manhasset

Manhasset

Median Sold Price of $1, 365,000 since Feb 2015

Manhasset – At a 2 year glance

By the Numbers – Sands Point

Sands Point

Sold prices dropped have been dropping making it a good time

to buy.

Sands Point – At a 2 Year Glance

Contact Edie

Address215 Main St.

Port Washington, NY 11050

Phone516-639-1172

Websitewww.EdieSellsLongIsland.com

www.laffey.com/ekatz

Email ekatz@laffey.com