Warren Real Estate

2016 Housing Market ReportIthaca and Surrounding Areas

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2016 Warren Real Estate NEWS

63 Years Strong Warren Real Estate is proud and honored to have served the real estate needs of so many in the community for 63 years. Expanding on a legacy started by Ann Warren in 1953, her grandson Bryan leads the company into the future and has grown to be the area’s #1 premiere real estate services provider.

Expanding our ReachWarren Real Estate takes a stake in Horseheads/Corning/Elmira NY by opening a branch office on W. Broad Street. With 4 locations and now in 3 markets in Central New York, Warren is committed to providing the best local service with top producing agents in your market.

warrenhomes.comWarren Real Estate understands the importance of keeping up with the online marketplace. We have fully renovated and improved our online presence! On our new website, you will find cutting edge technology and extremely enhanced overall user e x p e r i e n c e !

The WARREN CommunityPhilosophy

We believe that giving back to our community is the most meaningful and important investment we can make. The health and growth of our community is an initiative we take very seriously. Below are just some of the amazing organizations that we support:

All local stats in this report are based on IBR MLS reporting data. Information deemed reliable but not guaranteed.

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Thank you for making us #1 again in 2015!63 years strong! Our success is directly connected to your

success. Thank you for choosing the best in the business to help represent you in the buying and selling of your property.

Warren Real Estate

Company B

Company D

Company C

Company E

The WARREN ADVANTAGE

Choosing the right company makes all the difference!

1. Track Record and HistoryFor over 63 years, Warren has been a successful and highly reputable force in the Finger Lakes real estate business. Year after year, our stats show why we are the best choice:HIGHER Avg. Selling PriceHIGHER Med. Selling PriceHIGHER # of SOLD properties

2. The Local ChoiceFamily-owned business with deep roots in our area. Fully committed to the health and growth of our local community.

3. Market Leader#1 in sales, year after year.

4. Most Successful AgentsThe average sales of Warren agents outperformed the average agent sales of our largest competitor by 48%!

5. Tools and ResourcesHome to the area’s top producers, Warren utilizes the latest technology, state-of-the-art facilities and the best sales techniques to fulfill all your real estate goals.

165 MILLION

146 MILLION

All local stats in this report are based on IBR MLS reporting data, information deemed reliable but not guaranteed.

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Warren Real Estate is excited to celebrate 63 years in the industry. Since 1953, Warren has been providing first class service to home buyers and sellers in Tompkins County. 2016

Warren Real Estate

COMPANYSNAPSHOTThe WARREN ADVANTAGE

Side-by-Side ComparisonWarren Real Estate

Average Sale Price $239,105Marketshare $165 mil

# sold Warren Listings 335

Average Residential Selling Price by Company

Realty USA

Average Sale Price $217,453Marketshare $146 mil# sold RUSA Listings 318

Ithaca Board of Realtors

Average Sale Price $215,590Total Residential Sales $493 mil# of Res. listings sold 2015 1008

Source: Ithaca Board of Realtors 2015 MLS data

IBR Realty USA Warren

$200,000

$210,000

$220,000

$230,000

$240,000

$201,561

$213,729 $214,485 $215,590

$204,351

$219,953$216,181 $217,453$216,783

$233,967

$239,609$239,105

2012 2013 2014 2015

Market Leader with Higher Average Sales Price andMORE SOLD LISTINGS

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NAR2015 National buyer and seller trends derived from National Association of Realtors (NAR) 2015 Home Buyer and Seller Profile, a comprehensive annual study

buyers sellers warrenNAR2015 National buyer and seller trends derived from National Association of Realtors (NAR) 2015 Home Buyer and Seller Profile, a comprehensive annual study

10The number of homes a typical buyer viewed over an average of 12 weeks

9How many years the typical seller lived in their home

63The number of years Warren Real Estate has been the best in the business

NAR2015 National buyer and seller trends derived from National Association of Realtors (NAR) 2015 Home Buyer and Seller Profile, a comprehensive annual study 67

The percent of home buyers who were married

70The percent of home sellers who moved within the state

90How many top notch real estate professionals working everyday at Warren to help home buyers and sellers

NAR2015 National buyer and seller trends derived from National Association of Realtors (NAR) 2015 Home Buyer and Seller Profile, a comprehensive annual study

86,100The average gross household income of a typical buyer

40,000The average amount of equity in a home when it sold in 2015

165 Millions of dollars in volume of sales in 2015

9 in 10 buyers would use their agent again or recommend to others

TOP10What Buyers and Sellers can expect from their Warren Agent:

1)Immediate Access/Response

2)Honesty and Trustworthiness

3)Experience and Education

4)Good Communication and

Technical Skills

5)Professional, Friendly, Assertive

6)Neighborhood Knowledge

7)Price Guidance

8)Wide Network

9)Negotiation Skills

10)Market Knowledge

Warren Real Estate is in the business of

providing high level service to buyers

and sellers. On this page is a list of

what you can expect from any Warren

agent, and what skills you should ask

for from any real estate professional.

Thank you for allowing us to do what

we love and what we do best -

providing you with the best possible

real estate service.

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Selling or Buying a HOME?

KNOW YOUR MARKETSince 1953, putting people in their dream home has been the way of life at Warren. With 63 years experience buying, selling and marketing property, you can rely on Warren as your resource for finding information related to market trends, property values, inventory, zoning, land planning, subdivision, building lots, improvements, commercial, due diligence and more. With a Warren agent, you will find all of the resources, techniques and tools that you’ll need in order to make more educated decisions a b o u t b u y i n g , s e l l i n g a n d r e a l e s t a t e i n v e s t i n g .

www.warrenhomes.com

800

867

933

1,000

2009 2010 2011 2012 2013 2014 2015

How many homes sell yearly?

ALL RESIDENTIAL

SALES 2015

Number of Homes Sold

1008Average Selling Price

$215,590Average Days on Market

151Average Sell to List Ratio

95.65%

Lakefront Homes# of homes Sold 55Avg. selling price $355,209Avg. Days on Market 191

RESIDENTIAL

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Selling or Buying LAND?

KNOW YOUR MARKETThe Finger Lakes is abundant with beautiful land. With over 62 years experience buying and selling land, you can rely on Warren as your resource for finding answers to questions related to land values, trends, inventory, zoning, land planning, subdivision, building lots, improvements, commercial, due diligence and more. With a Warren agent, you will find many of the resources, techniques and tools that you’ll need in order to make more educated decisions about buying and s e l l i n g l a n d a n d r e a l e s t a t e i n v e s t i n g .

www.warrenhomes.com

Company B

0

57

113

170

2009 2010 2011 2012 2013 2014 2015

How many land properties sell yearly?

LAND

ALL LAND

SALES 2015

Average Selling Price

$68,807# of Properties Sold

125Average Days on Market

247Average Sell to List Ratio

89%

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In DetailSource of information: Ithaca Board of Realtors Multiple Listing Service. Statistics based on total residential sales reported to Ithaca Board of Realtors.

Information deemed reliable but not guaranteed.

Residential Homes Sales: Market Overview

$120,000,000

$146,250,000

$172,500,000

$198,750,000

$225,000,000

$182,265,414

$162,755,128

$178,071,557

$172,729,662

$189,677,308

$215,055,953$212,983,529

$217,314,442

2008 2009 2010 2011 2012 2013 20142015

9

0

50

100

150

200

Jan Feb March April May June July Aug Sept Oct Nov Dec

2015 Accepted Contracts by MonthGet your home on the market early to take advantage of the early buying surge!

In DetailSource of information: Ithaca Board of Realtors Multiple Listing Service. Statistics based on total residential sales reported to Ithaca Board of Realtors on a five-year average.

Information deemed reliable but not guaranteed.

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20%

35%

28%

17%

Jan-MarchApr-June

Jul-Sept

Oct-Dec

When Do Homes Go Under Contract?Missed the Spring Market? Don’t worry, there is still activity throughout the year!

In DetailAlthough the Spring Market is when most properties go under contract, don’t worry if you’ve missed the Spring. Many properties get sold throughout the rest of the year (65% of contracts are accepted outside of the Spring market).

Source of information: Ithaca Board of Realtors Multiple Listing Service. Statistics based on total residential sales reported to Ithaca Board of Realtors on a five-year average.

Information deemed reliable but not guaranteed.

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Average Residential Selling Prices

In DetailSource of information: Ithaca Board of Realtors Multiple Listing Service. Statistics based on total residential sales reported to Ithaca Board of Realtors.

Information deemed reliable but not guaranteed.

$175,000

$186,250

$197,500

$208,750

$220,000

$203,379

$190,231

$198,939 $198,770$201,561

$213,729 $214,485 $215,590

20082009

20102011

20122013

20142015

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Average Residential Days on the Market(List Date to Close Date)

In DetailSource of information: Ithaca Board of Realtors Multiple Listing Service. Statistics based on total residential sales reported to Ithaca Board of Realtors.

Information deemed reliable but not guaranteed.

100

117.5

135

152.5

170

141

146149

161 162157

144

151

2008 2009 2010 2011 2012 2013 2014 2015

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Average Sell to List %

In DetailSource of information: Ithaca Board of Realtors Multiple Listing Service. Statistics based on total residential sales reported to Ithaca Board of Realtors.

Information deemed reliable but not guaranteed.

0%

25%

50%

75%

100%

95% 94.5% 94.2% 94.4% 95.5% 95.5% 96.5% 95.6%

2008 2009 2010 2011 2012 2013 2014 2015

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WARREN REAL ESTATE

MARKETING“The Best in the Business”

In order to stay one step ahead, we must know consumers’ needs and desires. Whether it is helping our sellers

position their property online in the best possible way to reach their selling goals, or making it easier for buyers to

search on our website, we always do our homework first! You will find all these features and more at Warren Real

Estate.

99%

98%

88%

81%

78%

77%

73%

68%

55%

Detailed Property Information

Photos

Virtual Tours

Neighborhood Information

Agent Contact Information

Interactive Maps

Detailed Info on Sold Properties

Pending Sales/Contract Status

Open House Information

WHAT DO ONLINE BUYERS MOST WANT?Importance of online features for home buyers in the home viewing process

Source: National Association of Realtors, Profile of Home Buyers and Sellers

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WARREN ADVANTAGE MARKETING SELLER’S PACKAGE

Listed on MLS, exposing your listing to all the area’s buyers.

High quality photography and brochures to maximize buyer appeal.

Your OWN single property website and associated marketing plan of action.

Enhanced Realtor.com listings with additional photos, virtual tours and agent and office contact.

Print advertising with Ithaca Real Estate Journal.

Timely response to email inquiries, incl. evenings and weekends.

Offices open 7 days a week to service our clients with 4 highly visible locations.

Easily recognizable Warren Real Estate Sign placed on property.

Annual open house extravaganza and other featured open house weekends.

Syndication to hundreds of websites.

National and international referral network.

Premiere craigslist posting and monthly re-posting.

Broker inspections and open houses to showcase property.

Campaign to potential buyers and sellers.

Follow up with buyers’ feedback and monitor showings.

Comprehensive marketing reports.

WARREN REAL ESTATE

MARKETING“The Best in the Business”

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MOBILE WEBSITE INCLUDEDLatest technology gives you 24/7 mobile access. Your home will have its own mobile website! Looks great on Iphone or Android...even works great on older phones!

90% OF CONSUMERS BEGIN THEIR SEARCH ONLINE!More buyers mean a better chance of finding one willing and able to meet your terms, price and desired closing date.

EVERYTHING A BUYER COULD NEEDMaps and aerial view, showing request, and so much more!! The more information we can provide, the easier it is to attract a serious buyer. Ask your Warren agent today for a virtual walk-through of the features.

PREMIERE SERVICESFor each Warren seller, a single property website is included in your marketing package. We are the only brokerage in the area that offers this cutting edge service!

LISTING SYNDICATION As soon as we turn ON your single property site, your listing data will be syndicated to all the most important online real estate search sites.

MULTI-LINGUAL CAPABILITIES so we never miss a buyer!AfrikaansAlbanianArabicBelarusianBulgarianCatalanChinese (simplified)Chinese (traditional)CroatianCzechDanishDutchEnglishEstonianEsperantoFilipinoFinnishFrenchGalicianGermanGreekHebrewHindiHungarianIcelandicIndonesian

YourPropertyAddress.com

YOUR OWN PROPERTY WEBSITE

IrishItalian JapaneseKoreanLatvianLithuanianMacedonianMalayMalteseNorwegianPersianPolishPortugueseRomanianRussianSerbianSlovakSlovenianSpanishSwahiliSwedishThaiTurkishUkrainianVietnameseWelshYiddish

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•If a property fails to appraise at fair market value, it will either force the buyer to make up the difference in cash, the seller will have to reduce the price down to market value, or the sale will fall through.

•Since mortgages are based on fair market value, not the sale price, more buyers will consider your property when it is competitively priced.

•If your property is priced right, more buyers will be interested when it first hits the market.

OVERPRICING

Amenities

Size & Condition

LOCATION

INTELLIGENT PRICING

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Recent “Top 10” Media Mentions• Ithaca ranked #1 as the “Top 10 Best College Towns in America,” Business Insider, January 2013• Ithaca named "The Most Secure Place to Live" for a municipality with less than 150,000 residents, Farmers Insurance Group,

October 2012• Ithaca ranked "#1 College Destination," American Institute for Economic Research, October 2012• Ithaca ranked as one of the"Best River Towns in America," Outside Magazine, September 2012• Cornell ranked #5 in the "Top 25 Colleges for Outside Readers," Outside Magazine, August 2012• Ithaca ranked #5 in "The 10-Best Cities for Millennials," Moving.com and 247WallSt.com, July 2012• Ithaca ranked #1 for "Prime Workforce Growth" among 365 metro statistical areas, Area Development Magazine, June 2012• Ithaca ranked #3 for best city for "Finding Employment Right Now," Forbes, May, 2012• Cayuga Scenic Byway ranked "Top 10 All American Road Trip," Yahoo Travel, May, 2012• Ithaca ranked top-10 in "Great Quirky Places to Retire," AARP Magazine, April 2012• Ithaca/Tompkins County ranked America's "most secure" small town, Farmers Insurance Study, December 2011• Tompkins County ranked in "Top 10 Small to Mid-sized Fourth Economy Community," Fourth Economy Consulting, April 2012• Ithaca ranked in top-seven retirement towns to "Retire Here, Not There," Smart Money, November 2011• Ithaca ranked as one of the "10 Best Places to Retire 2012," US News & World Report, October 2011• Ithaca ranked as one of 19 "Perfect Towns," Outside magazine, October 2011• Cornell ranked #19 in "100 Best Companies," Working Mother Magazine, October 2011• Cornell ranked #2 in "Best Employers for Workers over 50," AARP, September 2011• Ithaca ranked #9 in"10 Affordable Cities for Retirement,"AARP Magazine September - October 2011• Ithaca once again, ranked in "Top 100 Places to Live," RelocateAmerica.com, June 2011• Ithaca ranked in top-10 city for "Carless Retirement," US News & World Report Online, March 2011• Ithaca ranked #6 in "America's Foodiest Towns," (pop. under 250,000) by Bon Appétit magazine, September 2010• Ithaca ranked #1 "Best College Town" (under 250,000 pop.) by American Institute for Economic Research, September 2010• Ithaca ranked #7 in "America's Brainiest Metros," The Daily Beast Online, August 2010• Ithaca ranked #1 among 350 U.S metro areas as the best place for recent college grads, The Daily Beast Online, June 2010• Ithaca ranked in top-100 places to live, top-10 recreation cities and top-10 small towns by RelocateAmerica.com, April 2010• Ithaca listed a "Top Retirement City for Wine Lovers," US News & World Report Online, May 2009• Ithaca ranked #3 in "Most Secure Places to Live - Small Towns," Farmers Insurance Study, May 2009• Ithaca ranked in top-100 American cities by RelocateAmerica.com, April 2009• Ithaca ranked in top-10 city for job-seeking retirees, US News, January 2009• Ithaca ranked #1 "Best Middle Class Housing Markets," Forbes.com, December 2008• Ithaca's Gimme! Coffee ranked #2 in "9 Great Coffees," Saveur Magazine, October 2008• Ithaca's Gimme! Coffee ranked best coffee bar by Food & Wine Magazine, September 2008• Ithaca ranked #1 "Green Commuter City,” AARP Magazine, September 2008• For more accolades, please visit www.warrenhomes.com

ITHACA ACCOLADES

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NOTES

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WARREN REAL ESTATE607.257.0666warrenhomes.com

ITHACA OFFICES:830 Hanshaw RoadIthaca NY 14850Fax: 607-257-8801

140 Seneca WayIthaca NY 14850Fax: 607-277-2669

BINGHAMTON OFFICE:3456 Vestal Parkway E.Vestal, NY 13850Phone: 607-217-5673Fax: 607-238-7334

HORSEHEADS/CORNING/ELMIRA OFFICE:829 W. Broad StreetHorseheads, NY 14845Phone: 607-398-4616Fax: 607-398-4617