Real Estate ‘s Economic Contribution in Delaware The Real Estate Industry accounted for $8,953 million or 13.0% of the Gross State Product in 2012 Bureau of Economic Analysis; NAR

Economic Contributions are derived from: Home construction Real estate brokerage Mortgage lending Title insurance & Attorney fees Rental & Leasing Home appraisal Moving truck service Inspections

When a Home is Sold in Delaware Income Generated from real estate related industries is: $16,992 Additional expenditure on consumer items such as on furniture, appliances, and remodeling is: $4,429 Bureau of Economic analysis; Census: NAHB,NAR

When a Home is Sold in Delaware The multiplier impact is estimated to be: $10,282 Additional home sales induce additional home production. On the average, one new home is constructed for every 8 existing home sales. 1/8 of new home value is added to the economy estimated in the State to be: $23,600 Bureau of Economic Analysis; Macroeconomic Advisors, NAR

Median Price Home: The Total Economic Impact of A Home Sale in Delaware $188,800 Total Income Derived from a Sale of a Home: $55,303 Bureau of Economic Analysis; NAR

$10,000 – $1,000,000 - Short sales $10,000 - $500,000 - Bank owned Housing Statistics for New Castle & Kent County September New CastleKent County Inventory Short Sales284/11%90/7% Bank Owned 83/3% 42/3% Trend

Inventory vs. Appointments New Castle County 0-99,99912% 100,000- $199,99930% 200, ,99926% 300,000 – 500,00024% 500, % $0-99,99916% 100, ,99929% 200, ,99929% 300, ,00021% 500,000+ 5% Appointments Inventory

Inventory vs. Appointments Kent County $0-99,99924% 100, ,99940% 200, ,99928% 300, ,0007% 500,000 +1% Appointments 0-99,99910% 100, ,99930% 200, ,99945% 300, ,00012% 500,000+3% Inventory

Positive outlook on Financing Mortgages USDA- FHA- Conventional- VA Loans appear to be available. Low interest rate loans for low to moderate income families Waiver of PMI Approving Higher debt ratios Government assistance for down payments Rate remains low

Barriers Low paying jobs Limited number of new businesses Student loans Shortage of inventory Reduction of governmental programs

Homeownership Concerns Mortgage Insurance Deduction elimination Mortgage Debt Cancellation Relief Flood Insurance

Homeownership still remains the ultimate American Dream Improves the quality of life Homeownership stabilizes communities Increase individual’s net worth Increases a sense of security, Improves ones sense of well-being.