Greenville/Pitt County Real Estate Blog

Great Loan Program with a Great Bank

Katie Evans (RE/MAX Preferred Realty) — Wed, 15 Oct 2008 15:30:40 -0500

BB and T C.H.I.P Loan Program

NO Income Limits if Purchasing in A Targeted Area

No Monthly Mortgage Insurance

No Downpayment for Qualified Buyers

$500 Minumum Buyer Investment

Unlimited Seller Contributions

Gift Funds Allowed

Cannot own any other residential property

Awesome! I am one step closer to a yes.

Katie Evans (RE/MAX Preferred Realty) — Wed, 15 Oct 2008 12:55:36 -0500

I lost a builder today.

I had a FSBO that refused to pay me a commission on a house and I had to let that poor scared first time home buyer go. We looked at 10 houses over the course of a week.

I took clients out last night and have meet the over three times during nights and weekends. He got stationed somewhere else.

I have a listing that has been under contract twice and falling through. It expires this month. Referring it to another agent.

I had a deal fall through on the listing side because the buyers agent did not tell them about prepays.

Someone sent me an email that I never got and he fired me as his agent.

A buyer backed out of a short sale deal because she did not feel comfortable. Hello! Told her agent that the process isnt a walk in the park.

LOOKS LIKE A GOT A LOT OF NO'S THIS WEEK. THE YES WILL BE COMING SOON!

Quarter 3 2008 Market Report

Katie Evans (RE/MAX Preferred Realty) — Mon, 13 Oct 2008 19:17:38 -0500

Monthly Statistics Report - Q3 2008
GREENVILLE-PITT ASSOC. OF REALTORS - Compiled on October 13, 2008
	Q3 2008	Change from Q2 2008	Q3 2007	Change from Q3/07 - Q3/08	YTD 2008	YTD 2007	2007 - 2008 YTD
Residential
New Listings	1,114	-17.85%	1,245	-10.52%	3,822	3,520	8.58%
Sold Listings	585	-16.07%	841	-30.44%	1,786	2,393	-25.37%
Volume - Sold Listings	$86,443,056	-20.67%	$131,855,418	-34.44%	$270,436,858	$359,428,544	-24.76%
Average Sale Price	$147,766	-5.49%	$156,784	-5.75%	$151,420	$150,200	0.81%
High Sale Price	$600,000	-26.52%	$679,000	-11.63%	$960,000	$875,000	9.71%
Low Sale Price	$8,000	0.00%	$8,990	-11.01%	$6,500	$4,200	54.76%
Average Days on Market	111	3.74%	84	32.14%	109	95	14.74%

Vacant Land
New Listings	126	-31.52%	145	-13.10%	485	490	-1.02%
Sold Listings	7	-88.52%	54	-87.04%	124	192	-35.42%
Volume - Sold Listings	$772,000	-90.99%	$3,369,889	-77.09%	$14,041,570	$15,254,561	-7.95%
Average Sale Price	$110,286	-21.51%	$62,405	76.73%	$113,238	$79,451	42.53%
High Sale Price	$305,000	-93.51%	$789,259	-61.36%	$4,700,000	$2,103,479	123.44%
Low Sale Price	$15,000	100.00%	$7,000	114.29%	$4,750	$5,500	-13.64%
Average Days on Market	164	32.26%	183	-10.38%	98	149	-34.23%

Commercial/Industrial
New Listings	30	0.00%	19	57.89%	86	53	62.26%
Sold Listings	2	-60.00%	3	-33.33%	13	11	18.18%
Volume - Sold Listings	$124,375	-94.20%	$1,062,000	-88.29%	$4,358,374	$3,497,625	24.61%
Average Sale Price	$62,188	-85.49%	$354,000	-82.43%	$335,260	$317,966	5.44%
High Sale Price	$64,375	-95.40%	$412,000	-84.38%	$1,399,999	$675,000	107.41%
Low Sale Price	$60,000	3.45%	$320,000	-81.25%	$58,000	$54,000	7.41%
Average Days on Market	56	-58.21%	161	-65.22%	104	57	82.46%

Multi-Family
New Listings	27	-40.00%	35	-22.86%	110	110	0.00%
Sold Listings	11	0.00%	13	-15.38%	33	52	-36.54%
Volume - Sold Listings	$2,023,350	65.74%	$2,797,100	-27.66%	$4,448,900	$7,378,080	-39.70%
Average Sale Price	$183,941	65.74%	$215,162	-14.51%	$134,815	$141,886	-4.98%
High Sale Price	$570,000	78.68%	$632,000	-9.81%	$570,000	$950,000	-40.00%
Low Sale Price	$86,850	221.67%	$32,000	171.41%	$12,750	$10,000	27.50%
Average Days on Market	65	-51.85%	133	-51.13%	99	153	-35.29%

Rental
New Listings	53	26.19%	14	278.57%	111	16	593.75%
Sold Listings	0	N/A	0	N/A	0	0	N/A
Volume - Sold Listings	$0	N/A	$0	N/A	$0	$0	N/A
Average Sale Price	$0	N/A	$0	N/A	$0	$0	N/A
High Sale Price	$0	N/A	$0	N/A	$0	$0	N/A
Low Sale Price	$0	N/A	$0	N/A	$0	$0	N/A
Average Days on Market	0	N/A	0	N/A	0	0	N/A

Total
New Listings	1,350	-18.53%	1,458	-7.41%	4,614	4,189	10.15%
Sold Listings	605	-21.83%	911	-33.59%	1,956	2,648	-26.13%
Volume - Sold Listings	$89,362,781	-26.09%	$139,084,407	-35.75%	$293,285,702	$385,558,810	-23.93%
Average Sale Price	$147,707	-5.44%	$152,672	-3.25%	$149,942	$145,604	2.98%
High Sale Price	$600,000	-87.23%	$789,259	-23.98%	$4,700,000	$2,103,479	123.44%
Low Sale Price	$8,000	6.67%	$7,000	14.29%	$4,750	$4,200	13.10%
Average Days on Market	111	1.83%	91	21.98%	108	100	8.00%
ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED

Monthly Statistics Report September 2008

Katie Evans (RE/MAX Preferred Realty) — Mon, 13 Oct 2008 19:02:21 -0500

Monthly Statistics Report - Sep 2008
GREENVILLE-PITT ASSOC. OF REALTORS - Compiled on October 13, 2008
	Sep 2008	Change from Aug 2008	Sep 2007	Change from 9/07 - 9/08	YTD 2008	YTD 2007	2007 - 2008 YTD
Residential
New Listings	349	-5.93%	427	-18.27%	3,822	3,520	8.58%
Sold Listings	146	-25.51%	186	-21.51%	1,786	2,393	-25.37%
Volume - Sold Listings	$21,117,736	-26.93%	$28,262,983	-25.28%	$270,436,858	$359,428,544	-24.76%
Average Sale Price	$144,642	-1.91%	$151,952	-4.81%	$151,420	$150,200	0.81%
High Sale Price	$600,000	23.71%	$509,631	17.73%	$960,000	$875,000	9.71%
Low Sale Price	$8,500	6.25%	$16,000	-46.88%	$6,500	$4,200	54.76%
Average Days on Market	107	-0.93%	84	27.38%	109	95	14.74%

Vacant Land
New Listings	30	-3.23%	49	-38.78%	485	490	-1.02%
Sold Listings	3	50.00%	13	-76.92%	124	192	-35.42%
Volume - Sold Listings	$366,000	14.37%	$464,680	-21.24%	$14,041,570	$15,254,561	-7.95%
Average Sale Price	$122,000	-23.75%	$35,745	241.31%	$113,238	$79,451	42.53%
High Sale Price	$185,000	-39.34%	$72,750	154.30%	$4,700,000	$2,103,479	123.44%
Low Sale Price	$85,000	466.67%	$7,000	1,114.29%	$4,750	$5,500	-13.64%
Average Days on Market	225	102.70%	260	-13.46%	98	149	-34.23%

Commercial/Industrial
New Listings	7	-56.25%	3	133.33%	86	53	62.26%
Sold Listings	0	-100.00%	1	-100.00%	13	11	18.18%
Volume - Sold Listings	$0	-100.00%	$330,000	-100.00%	$4,358,374	$3,497,625	24.61%
Average Sale Price	$0	-100.00%	$330,000	-100.00%	$335,260	$317,966	5.44%
High Sale Price	$0	-100.00%	$330,000	-100.00%	$1,399,999	$675,000	107.41%
Low Sale Price	$0	-100.00%	$330,000	-100.00%	$58,000	$54,000	7.41%
Average Days on Market	0	-100.00%	327	-100.00%	104	57	82.46%

Multi-Family
New Listings	10	0.00%	17	-41.18%	110	110	0.00%
Sold Listings	3	-62.50%	0	N/A	33	52	-36.54%
Volume - Sold Listings	$495,000	-67.61%	$0	N/A	$4,448,900	$7,378,080	-39.70%
Average Sale Price	$165,000	-13.63%	$0	N/A	$134,815	$141,886	-4.98%
High Sale Price	$165,000	-71.05%	$0	N/A	$570,000	$950,000	-40.00%
Low Sale Price	$165,000	89.98%	$0	N/A	$12,750	$10,000	27.50%
Average Days on Market	150	354.55%	0	N/A	99	153	-35.29%

Rental
New Listings	11	-42.11%	7	57.14%	111	16	593.75%
Sold Listings	0	N/A	0	N/A	0	0	N/A
Volume - Sold Listings	$0	N/A	$0	N/A	$0	$0	N/A
Average Sale Price	$0	N/A	$0	N/A	$0	$0	N/A
High Sale Price	$0	N/A	$0	N/A	$0	$0	N/A
Low Sale Price	$0	N/A	$0	N/A	$0	$0	N/A
Average Days on Market	0	N/A	0	N/A	0	0	N/A

Total
New Listings	407	-8.95%	503	-19.09%	4,614	4,189	10.15%
Sold Listings	152	-26.57%	200	-24.00%	1,956	2,648	-26.13%
Volume - Sold Listings	$21,978,736	-28.67%	$29,057,663	-24.36%	$293,285,702	$385,558,810	-23.93%
Average Sale Price	$144,597	-2.86%	$145,288	-0.48%	$149,942	$145,604	2.98%
High Sale Price	$600,000	5.26%	$509,631	17.73%	$4,700,000	$2,103,479	123.44%
Low Sale Price	$8,500	6.25%	$7,000	21.43%	$4,750	$4,200	13.10%
Average Days on Market	110	4.76%	97	13.40%	108	100	8.00%
ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED

Good Faith Estimates -- Knowing the basics - A must read !!!

Katie Evans (RE/MAX Preferred Realty) — Mon, 13 Oct 2008 07:48:16 -0500

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages -- Mortgages :

Good Faith Estimates -- Such an extremely vital part when shopping for a mortgage. Yes, rate is some what important, but seems to be the primary focus so many times. Not to sound rude or out of character, but a monkey can quote a rate. And I am dead serious about this.

For any of you in the process of buying a home or refinancing your current mortgage, this is a must read.

I have been in the mortgage industry for over 16 years and this subject has to be my biggest pet peeve out there. I have written about this a few times, which you can read below.

You didn't get a good faith estimate?

Understanding what a good faith estimate is

APR vs mortgage interest rate

Basic information to look for when shopping for a good faith estimate.........

Only compare the lenders fees, which are located on lines 800 to 820.

Do not compare good faith estimates and the truth-in-lending disclosure (TIL) that shows the APR. It's very easy to manipulate the APR. Lenders can leave out certain fees.

Beware of what property taxes the loan officer uses for properties that you are looking at. And make sure that they escrow the correct amount on your good faith estimate, which is on lines 1003 & 1004.

Here is my biggest pet peeve !!!!! You should be given a good faith estimate once your loan officer qualifies you. When your loan officer pulls your credit, takes down your income information, and is able to come back to you with a purchase price, with rate and payment, you are now qualified. If this is the case, they should be able to give you a good faith estimate (GFE) right there and then. Okay, so you called them up. Most of us have e-mail and that loan officer should be able to e-mail you a copy. It doesn't take no longer than 24 hours, no matter how busy they are. Don't allow them to use this as an excuse. And if it takes them 2 days to get you a GFE? Don't even use their services, no matter what. Not unless they tell you when you will be getting one. Things do happen. But the key thing to remember is if you are qualified to buy a property or to refinance, then you should get one within a half hour. People, your information is already in the system. That is the only way to qualify you. Then next step is just to e-mail it to you. That SIMPLE....

One last major point..... as Lenn Harley mentioned in a comment, you need to obtain all the good faith estimates on the same day. Just one day could make a huge difference. Especially in taoday's market, with rates changing drastically within 24 to 48 hours at times. You just don't want to shop yourself out of the market.

2 quick stories.......

-- I have a client right now that is looking to buy a home in Maryland. They first went to Countrywide and was pre-qualified for a home of $250,000. I asked them what payment that they didn't want to go over and they said $2,000 a month. I also asked them what the taxes were on the properties that they were looking at in that range. They said $3,400 to $4,200, so I bumped it up $100 extra per year.

They found me online from a few of my blogs. I work in New Jersey and don't know their area well, but I know what questions to ask, as you can see above. The other lender? She is using taxes of $2,400 a year. I was even shown the GFE. OUCH. You know what, these buyers qualify very easily. But in my worst case scenario, the payment difference is going to be by $150 a month. And you know what, most of the taxes are about $4,100/month. And this lender is local.... There are a few points in this story. A very good loan officer doesn't have to be local. And a very good loan officer needs to ask the right questions, besides knowing how to qualify.

-- 2nd story.... I met a couple two days ago who settled on their home a year ago. It was even a referral from a friend. This loan officer had them bring $2,500 more to settlement, the day of settlement. This is a totally different pet peeve and different subject, which I will write about later. But word to the wise, this is called bait and switch. If your loan officer changes your rate and or costs at the very end, typically the day before or the day of, don't sign the papers if there is a huge difference. Don't let anyone force you to sign, even a lawyer. The only thing that you could lose at that moment is your deposit. But let me tell you something, if you have the right documents, you can take them to court and win in most courses. This is if they won't come back down to what was originally offered. Why can I say this? If anything is ever changed prior to settlement, the lender is suppose to get you to sign a new good faith estimate.

Overall.... choose your mortgage professional wisely and not just based on a great good faith estimate.

FYI....... If a loan officer doesn't volunteer a good faith estimate right when they qualify you for a mortgage... or it takes longer than 24 hours.... then the loan officer in most cases does't wamt you to see their good faith estimate. It's sad to say, but usually so true. Don't let anyone tell you differently. They don't want you to compare apples to apples. And in all honesty, why should you give them the benefit of the doubt or even consideration still... no matter how nice they sound. It could cost you money in the long run.

- FHA Loans - Conventional Loans - VA Loans -

Experience & Knowledge at its BEST !!!

____________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information on how you can obtain your dream home, please click here : Mortgage Financing Options

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!

Copyright © 2008 by Jeff Belonger

Foxchase Home for Sale!

Katie Evans (RE/MAX Preferred Realty) — Thu, 09 Oct 2008 17:06:10 -0500

For additional pictures, visit my website www.greenvillehomesnow.com.

Single Family 86285 Active	723 FOX CHASE LANE WINTERVILLE, NC 28590		(12)	L$178,000
			(12)

Area:	WINTERVILLE	Beds:	4
County:	Pitt	Baths:	3
Subdivision:	FOXCHASE	Half Baths:	0
City Limits:	No	Rooms:	8
Year Built:	1990	New Const.:	No
Const. Type:	Siding-Vinyl	Apx Htd SF:	1,957
Deed Ref:	1813-173	Apx Other SF:
Parcel:	046216	Apx Out. Stor. SF:
Elem. School:	RIDGEWOOD ELEMENTARY	Apx Garage SF:
Middle School:	A.G. Cox
High School:	South Central High

Lot Size:		Zoning:		E-300:
Acres:	.58	Lot:		Assum. Loan:	No
HOA/ Mgmt Comp.:	No/	Est. Yr Tax/Yr:	$934/ 2008	Loan Type:
HOA Mthly Fee:	$	Tax Value:	$119,333	Lease:	No

Approximate Room Dimensions

	Level	Dimensions/Description		Level	Dimensions/Description
Living Room:			Master Bdrm:	1
Dining Room:	1		BR 2:	1
GR/Den:	1		BR 3:	1
Kitchen:	1		BR 4:	2
Rec Room:	2		BR 5:
Utility Room:

Baths Lvl 1:	2	Baths Lvl 2:	1	Baths Lvl 3:	Baths Bsmt:
Half Bth Lvl 1:		Half Bth Lvl 2:		Half Bth Lvl 3:	Half Bth Bsmt:

Features

Int Features:	Ceiling Fans , Gas logs , Smoke Alarm , Walk-in Closets , Washer &/or Dryer Hook Up
Ext Features:	Pool on Premises , Storage Building
Appliances:	Dishwasher , Range/Oven Electric , Refrigerator
Porch:	Deck
Misc Search:	Bedroom 1st Floor , Bonus-Finished , Remodeled , Workshop
Misc Search:	.5-1 Acres , Warranty Program

Style:	Traditional	Roof:	Composition Shingle
Type:	Site Built	Attic:	Access Only
Lvl/Stories:	2 Stories	Flooring:	Carpet , Ceramic Tile , Laminate , Vinyl
Construction:	Siding-Vinyl	Bsmt/Found.:	Crawl Space
Dining/Living:	Breakfast Nook , Formal Dining , Great Room/Den	Fencing:	Chain Link
Garage/Carp.:	None-Carport , None-Garage	Windows/Drs:	Thermal Doors , Thermal Windows
Heat System:	Heat Pump	A/C:	Central
Heat Fuel:	Electric , Gas	Disclosures:	None Known
Water/Sewer:	City Water , Septic Tank	Possession:	At Closing
HOA Amens.:	None

Public Rems:	Great 4 Bdrm home w/ 3 full baths! Large, fenced yard-over half acre lot. Kitchen w/ laminate & new countertop. Master with recently updated bath. 4th bdrm on 2nd floor ideal for office space. Great outdoor space for entertaining w/ deck, above ground pool & workshop w/ running water. Lives larger than 1,956 sq. ft.
Directions:	Memorial Drive to Thomas Langston Road. Right into Foxchase subdivision to property on left.

Prepared by

		Prepared by: THE KEY GROUP		Email : katie.evans@embarqmail.com
		RE/MAX PREFERRED REALTY		Direct Ph# : (252) 355-5006
		3208 S. CHARLES BOULEVARD		Other Ph# : (252) 341-5052
		GREENVILLE, NC 27858		Fax Ph# : (252) 321-1314

Photo Gallery MLS# S86285A


Laminate New Countertop	Breakfast Nook w Bay Window
Master Bath Recently Updated	Formal Dining

Photo Gallery MLS# S86285A

Great Room	Bonus
4th Bedroom off Bonus	Workshop with Running Water
Over Half Acre Fenced Yard	Great Outdoor Entertaining!

Laurie Meadows for Sale-Builder MUST UNLOAD!

Katie Evans (RE/MAX Preferred Realty) — Thu, 09 Oct 2008 17:01:29 -0500

Fore more homes avaliable for sale in Winterville and Greenville visit my website, www.greenvillehomesnow.com

Single Family 86828 Active	325 ALYSSUM PLACE WINTERVILLE, NC 28590		(12)	L$179,900
			(12)

Area:	WINTERVILLE	Beds:	3
County:	Pitt	Baths:	2
Subdivision:	LAURIE MEADOWS	Half Baths:	0
City Limits:	Yes	Rooms:	7
Year Built:	2007	New Const.:	No
Const. Type:	Brick Veneer , Siding-Vinyl	Apx Htd SF:	2,072
Deed Ref:	2184-540	Apx Other SF:
Parcel:	68964	Apx Out. Stor. SF:
Elem. School:	W.H. Robinson Elem	Apx Garage SF:
Middle School:	A.G. Cox
High School:	South Central High

Lot Size:		Zoning:		E-300:	No
Acres:	.41	Lot:		Assum. Loan:
HOA/ Mgmt Comp.:	Yes/ Keystone	Est. Yr Tax/Yr:	$1,850/ 2008	Loan Type:
HOA Mthly Fee:	$8	Tax Value:	$183,251	Lease:

Approximate Room Dimensions

	Level	Dimensions/Description		Level	Dimensions/Description
Living Room:			Master Bdrm:	1	158 x138
Dining Room:	1	10 x 10	BR 2:	1	13 x 11 2
GR/Den:	1	14 x 18 8	BR 3:	1	13 x 11 2
Kitchen:	1	15 x 10 2	BR 4:
Rec Room:	2		BR 5:
Utility Room:	1		BRKFST	1	10 x7

Baths Lvl 1:	2	Baths Lvl 2:	Baths Lvl 3:	Baths Bsmt:
Half Bth Lvl 1:		Half Bth Lvl 2:	Half Bth Lvl 3:	Half Bth Bsmt:

Features

Int Features:	Cathedral Ceilings , Ceiling Fans , Laundry Room , Open Foyer , Smoke Alarm , Trey Ceilings , Washer &/or Dryer Hook Up
Ext Features:	Concrete Drive
Appliances:	Built-in Microwave , Dishwasher , Range/Oven Electric
Porch:	Concrete , Front , Rear
Misc Search:	Bedroom 1st Floor
Misc Search:	Cable TV Available , Community Association , Garage Door Opener

Style:	Traditional	Roof:	Architectural
Type:	Site Built	Attic:	Expandable , Floored , Walk In Storage
Lvl/Stories:	1 Story	Flooring:	Carpet , Ceramic Tile , Laminate
Construction:	Brick Veneer , Siding-Vinyl	Bsmt/Found.:	Crawl Space
Dining/Living:	Breakfast Nook , Formal Dining , Great Room/Den	Fencing:	Rear Only , Wood
Garage/Carp.:	Double Attached Garage	Windows/Drs:	Thermal Doors , Thermal Windows
Heat System:	Gas Pak , Heat Pump	A/C:	Central
Heat Fuel:	Gas	Disclosures:	None Known
Water/Sewer:	City Sewer , City Water	Possession:	At Closing
HOA Amens.:	None

Public Rems:	Fabulous floor plan by Evans Custom Builders. Breakfast nook with built-in office. Master with trey ceiling and custom tiled bath. Cathedral ceiling in great room. Finished bonus and walk-in storage or room for expansion.
Directions:	Old Tar to right on Laurie Ellis. Subdivision is on the left. Take first right on Alyssum Place to property on right.

Prepared by

		Prepared by: THE KEY GROUP		Email : katie.evans@embarqmail.com
		RE/MAX PREFERRED REALTY		Direct Ph# : (252) 355-5006
		3208 S. CHARLES BOULEVARD		Other Ph# : (252) 341-5052
		GREENVILLE, NC 27858		Fax Ph# : (252) 321-1314

Photo Gallery MLS# S86828A

Great Family Neighborhood	Front Porch
Great Room Foyer	Kitchen
Breakfast Nook	Built-in Office

Photo Gallery MLS# S86828A

Formal Dining	Master Bedroom
Master Bath	Custom tiled Master Bath
Larger Bonus Room to Expand!	Covered Rear Porch