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1 JOY STANLEY Island Dreams Real Estate Broker - Owner, CRS, ABR, RSPS JULY 2015 Dear Friends, IslandDreamsVI@Gmail.Com (340) (866) Hope you have a wonderful July 4th as we celebrate our country! The St. John Carnival ends July 5th, with fireworks in Cruz Bay on July 4th. Our weather continues to be hazy and dry with comfortable temperatures in the 80 s. Island life is slowing down with fewer cruise ships and tourists so beaches are not crowded and the water is clear and warm. Work is progressing on Brookman Road and is ahead of schedule, so hopefully it will be reopening soon. Jazz in the Park will be Saturday July 25th from 5:30 to 10:00 PM at Roosevelt Park. The event is free with music and a street fair. Bring your beach chairs and join the fun! The Humane Society needs your help if you are traveling to the states and willing to take a dog when you go. There is no charge to you and you can keep an animal from being euthanized as the Humane Society has more animals than it can handle. Most pets go to the Northeast, but you can call Rhea Vasconcello at (o), (cell), or islandbarks@gmail.com for more information. You can also support the Humane Society by becoming a member, adopting a pet or visiting their store across from the light at Cost U Less and Home Depot. Our real estate market continues to improve with average closed prices up on houses, condos and timeshares. The number of available properties continues to slowly decrease although we still have a lot to choose from. Our rental market, both short and long term, also continues to be very strong, making properties here a good investment! If you have any questions about what is available or what your property is worth in today s market, please call or me. Our national market continues to improve as well, and this month s info discusses what s going on. These statistics are averages, so if you want specific info on your local market, please give me a call, and I can find out for you. Thank you for your continuing support and referrals. Please call or me if you, your family or friends want information on buying, selling or renting or want to subscribe to my complimentary monthly newsletter. Live Your Dream,

2 ST. THOMAS REAL ESTATE CLOSED SALES COMPARISON YEARLY AVERAGES THROUGH THE END JUNE 2015 *Per St. Thomas MLS YEAR THRU JUNE 2015 SOLD AVERAGE PRICE PERCENT OF LIST # of Properties on DAYS ON YEAR THRU JUNE 2014 SOLD AVERAGE PRICE PERCENT OF LIST # of Properties on DAYS ON HOME SALES 91 $808, $733, CONDO SALES 93 $216, $215, LAND SALES 81 $119, $134, TIME SHARES 86 $25, $18, Gorgeous water and island views from this newly painted unit at Sapphire Village. Complex is minutes walk to beautiful Sapphire Beach, has two pools, Wi-fi, laundry and restaurant on premises plus low condo fees! Unit is middle level with few steps and is a great second home or rental, both short and long term. Condo is located just 1/2 mile from Red Hook and the ferry and on the safari route. MLS $115,000 *Principle, Interest and Taxes with 20% Down, Based on Average Credit & Income

3 Sapphire Village SOLD Properties June 2014 to June 2015 ADDRESS BEDROOMS BATHROOMS LIST PRICE SOLD PRICE SOLD DATE 300 St.Kitts Studio 1 $ 89,900 $ 87,900 06/26/ St. Maarten Studio 1 $125,000 $108,000 06/19/ Barbados 1 1 $224,900 $199,990 06/03/ Dominica Studio 1 $ 99,500 $ 91,000 05/14/ Saba 1 1 $209,000 $185,000 04/09/ Barbados Studio 1 $105,000 $100,000 04/07/ Tobago 1 1 $155,000 $150,000 03/23/ St. Maarten Studio 1 $134,999 $124,000 03/23/ St. Maarten Studio 1 $135,000 $111,000 03/06/ St. Maarten Studio 1 $119,000 $105,000 01/27/ Dominica 1 1 $165,000 $155,000 01/16/ /224 Barbados 2 2 $379,000 $280,000 01/09/ St. Kitts Studio 1 $108,000 $102,000 12/01/ St. Kitts Studio 1 $ 99,500 $ 99,500 11/17/ Saba 1 1 $206,000 $197,000 9/11/ St. Vincent Studio 1 $119,000 $105,000 8/08/ Saba Studio 1 $126,000 $110,000 7/28/ St. Kitts Studio 1 $ 79,500 $ 72,000 7/15/ St. Maarten 1 1 $149,000 $140,000 7/10/2014 Properties Currently FOR SALE at Sapphire Village ADDRESS BEDROOMS BATHROOMS LISTED PRICE 319 St. Kitts Studio 1 $105, Dominica Studio 1 $115, Tobago Studio 1 $117, St. Kitts Studio 1 $119, St. Maarten 1 1 $169, Tobago 2 2 $295,000 *Per St. Thomas MLS JOY STANLEY Island Dreams Real Estate (340)

4 A Mid-Year Review of the National Real Estate Market Thinking about buying a home or listing your current one? Whether you re considering a jump into the housing market or are just curious about what shape it s in, here are a few facts about it. 67% of Americans say that now is a good time to buy; 40% say it s a good time to sell. 1 MILLENNIALS WILL CONTINUE TO MAKE UP THE MAJORITY OF FIRST-TIME BUYERS. Millennials make up 65% of first-time buyers, and many of them are older Millennials aged % of Millennials are buying due to a change in family size. 2 THERE ARE FEWER FORECLOSURES ON THE IN MOST AREAS. We re reaching the end of the foreclosure crisis. There are fewer foreclosures and short sales on the market than before, in most markets. 2 HOME INVENTORY IS UP. Total housing inventory is at a 4.6 month supply at the current sales pace. 4 Millennials are predicted to drive two-thirds of household formations in the next five years. 3 Home builders are expected to break ground on more homes in Experts forecast a 16% growth in home construction. 2 Sources: 1. Fannie Mae, Monthly National Housing Survey, February Realtor, December 4, NAHB, March NAR, April 22, Inman, March 25, 2015 New listings are up 12% this year from 2014 levels Buffini & Company. All Rights Reserved. Used by Permission. RMMK JULY MF S JOY STANLEY, BROKER ISLAND DREAMS REAL ESTATE

5 The Deal with Home Prices Are home prices on the rise or are they falling? The answer depends on where you live. Home prices are more local than ever. 1 National median existing home price is $212, Median price by region in March Northeast: $240,500 (-1.6% from March 2014) Midwest: $163,600 (+9.7% from March 2014) South: $187,900 (+9.3% from March 2014) West: $305,000 (+8.3% from March 2014) 46% of Americans say that home prices will go up in the next 12 months. 3 41% say that prices will stay the same. Sources: 1. HomeBuying Institute, Oct 2, NAR, April 22, Fannie Mae, Monthly National Housing Survey, February 2015 Want to learn more about the local real estate market? Give me a call! I m happy to give you the scoop on our local market. Homebuying Trends in 2015 JOY STANLEY, BROKER Source: RISMedia, February 5, 2015 ISLAND DREAMS REAL ESTATE Multigenerational housing The most common reasons for multiple generations living together include family values, health reasons, and childcare. On-site income property Many buyers are considering multifamily homes with a guest house or with space above the garage, in the attic or in the basement to convert into an apartment. Renting these spaces provides extra income to defray mortgage and other household costs. Less expensive locales Smaller markets are gaining the attention of buyers who are looking for housing bargains in addition to small town amenities.