Well i do believe winter has arrived. It feels like we missed the fall. But we may still get a few weeks. I hope you all had a wonderful weekend. Perhaps buying pumpkins or putting up some scary decorations. Halloween is around the corner.
Wilmington Real Estate
Yes, you guessed right! Homes are still moving at the magic price of $250,000 and under. Thanks to the Obama tax credit for first time home buyers. Due to finish up on November 30th. If you are looking to buy or you know someone who is email me and lets get started. NO TIME TO WASTE! Currently in the Wilmington area there are 2309 single family homes on the market, and only 976 of those are priced under $250,000. With a whopping 390 homes under contract and 255 of those are guess....thats right priced at $250,000 and under. In the last 3 months there have been 484 homes sold and 318 of them were priced in the magic spot. Homes are still moving. Homes that are priced right that is.
First Time Home Buyer Tax Credit Extended...but only for some.
The House of Representatives recently voted 416 - 0 to extend through 2010 the benefits of the first-time homebuyer tax credit to military, intelligence and diplomatic personnel. To be eligible, purchasers in these categories must have been outside the US on active duty for at least 90 days in 2009. The measure (H.R. 3590) now goes to the Senate. Source: The National Association of REALTORS®
CNN Money loves Wilmington NC
CNN Money placed Wilmington NC number 14 for the best places to launch a small business. Growing economies, affordable workers, stable housing markets, low crime -- these metro areas have all the features entrepreneurs need to thrive.
I trust you all had a great weekend. It was extremely nice here in Wilmington. This is the weather we all wait for. We continue to stay busy with first time home buyers, still taking advantage of the tax credit.
Wilmington Real Estate
Currently there are 2400 single family homes on the market, with 359 homes under contract at the moment. Homes are still selling. In the last 3 months there have been 490 homes sold. Prices are still dropping however, and this will be the case as long as there are foreclosures and short sales around. I believe in the near future we will be seeing a settling down of prices. If you are thinking of putting your home on the market, send me an email and we can get the ball rolling. At least find out what your homes is worth. Why not?
The Tax Credit, will you be able to take advantage?
Who qualifies? First time home buyers buying a home from December 2008 till November 30 2009. The countdown begins with only 74 days to take action. Currently it is taking about 6 weeks to close a loan. So if are looking to buy dont miss this oportunity. Many are pushing for an extension on this but as of yet there has been no changes.
The week in in review coming to you a day late. My family and I were rertuning from family vacation and we were in flight all day yesterday. We had a wonderful time in Los Angeles visiting family and of course visiting the best friends of my children. "Mickey Mouse". So here it is a day late. Enjoy your day of Rest!
Wilmington Real Estate
Currently in Wilmington there are 2392 single family homes on the market and 328 homes are under contract. 510 homes have sold in the last 3 months. I think we are experiencing an upturn in the market and with a warm welcome i might add.
Pending Home Sales
Activity for pending homes sales has risen for 6 months in a row, this has not been seen the case since the history of the index began in 2001. The index is at its highest level since 2007 and housing affordability has been at record hights this year with the added stimulus of the first time home buyer tax credit.
Sellers still cutting prices
Competition heats up every summer with more inventory on the market, this in turn has sellers competing for buyers. Really you need to be one of the 3 best price in your price range to ensure some activity. One in four homes for sale in August had their prices prices reduced at least once since coming on the market with the average discount of 10%. Homes that are priced competitively are the ones that are selling.
Take note, sales are increasing but prices are still falling.
Hope you all had a nice weekend. It turned out to be a nice weekend overall. With plenty of sunshine overall. Welcome back to school, all schools will be in full tilt tomorrow marking the end of the summer. The housing market still shows signs of promise.
Wilmington Real Estate Market
Currently in New Hanover County there are 2401 single family homes, and 330 homes are under contract. 509 Homes have sold in the last 3 months thats an increase. Im sure the race to take advantage of the $8000 tax credit has something to do with it.
An amazing leap in existing home sales.
For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of Realtors®.
Not since June 2004 have we seen home sales rise 4 months in a row. Single-family, townhomes, condominiums and co-ops - rose 7.2 percent, and the last time sales were higher than a year earlier was November 2005.
The chief economist from the National Association of realtos , said he is encouraged. "The housing market has decisively turned for the better. A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales," he said.
Take note: the monthly sales gain was the largest on record for the total existing-home sales series dating back to 1999.
As you know with the tax credit involved first time home buyers purchcased 30% of the homes in July and 31% of all homes sold were distressed.
Commercial Real Estate
Continues to decline but has steadied off some. Hopefully with the end of the recession in the next 6 months. The reduction in commercial real estate will continue through the first quarter of 2010,
Whew....a rainy week in Wilmington, but it finished with a blast of sunshine. Its nice to have a break. Summer is coming close to an end, its the best time to look at homes and I wont even bring up the fantastic deals that are awaiting you. Give me a ring or drop me a line if you would like to start looking.
Wilmington Real Estate
Currently there are 2376 single family homes on the market and 329 homes under contract in the greater Wilmington Area. There have been 518 homes sold in the last 3 months. Thats a definate increase to celebrate. Some home prices are still falling, the majority are homes that are overpriced, but there are some forclosures and short sales that are doing some damage. If you are thinking of putting your home on the market and you would like a market analysis send me an email and we can set up a time for me to come look at your home.
The highest reward "Green Certificate" for Custom Home builder
Custom home builder Mark Johnson won the platinum certification from Leadership in Energy and Environmental Design for his house in Landfall. Many builders are finding ways to stand out, and in this day in age this is one way to do it. "An EnergyStar home is going to be 15 percent more efficient" than a home that does not qualify for the government rating, Johnson said. More info Click here.
Great National news for the 2nd Quarter for the Housing Market.
Total state existing-home sales, including single-family and condo, rose 3.8 percent to a seasonally adjusted annual rate1 of 4.76 million units in the second quarter from 4.58 million units in the first quarter, but remain 2.9 percent below the 4.90 million-unit pace in the second quarter of 2008. Chief economist has been quoted as saying: "With low interest rates, lower home prices and a first-time buyer tax credit, we've been seeing healthy increases in home sales, which are a hopeful sign for the economy. Here is a taste of what we all are waiting for.
Happy Sunday Afternoon! Hope you all have had a wonderful sunny weekend. The real estate market continues to heat up, with the best priced homes going under contract. Thinking of selling? drop me a line and we can discuss your options. Currently in Wilmington there are 322 homes under contract in Wilmington area. A good thing!
The Tax Credit Clock Is Ticking
To be eligible for a tax credit of up to $8,000, first-time homebuyers have until the end of business on Nov. 30 to close their loans. There has been discussion that some members of Congress want to extend and increase the homebuyer tax credit. It remains to be seen if an extension or enhancements will be made. Historically, it has taken 45 to 60 days to close a loan. The new appraisal and disclosure requirements that recently took place will add extra time to the closing process. To be certain homebuyers can take advantage of the tax benefit - as the law stands today - interested buyers should apply for their loan no later than the beginning of October
Pending Home Sales on the up in Wilmington and around the country.Pending home sales are up for the fifth consecutive month, the first time in six years for such a streak, according to the National Association of REALTORS®. Where does it come from in such a "down market" its a combination of positive factors, including low mortgage interest rates and affordable home prices.
The number of homes on the market drops The number of homes listed for sale declined again in many U.S. cities last month, the persistence of bargain hunters, continued to search for short sales and or foreclosed properties. The supply of homes available for sale in 28 major metropolitan areas at the end of July was down 2.5 percent from a month earlier, according to figures compiled by ZipRealty, Inc. Historically, inventory declines only 1 percent from June to July. Things are starting to level out and lets hope it continues. We all want to be back in a normal market....all except those smart investors who are buying now.
Great Weekend here in Wilmington. The weather forecast predicted rain....but there has only been short downpours and then sunshine again. Great summer weather!
Wilmington Real Estate
There definately has been many homes go under contract in the $300,000 range and under. The end of the $8000 dollar tax credit is drawing near,I'm sure that has something to do with it. It sure is a pleasant change from 6 months ago. Currently there are 2353 single family homes on the market. 332 homes are under contract and in the last 3 months 527 homes have sold. Those are the kind of numbers we are looking for!
Housing Index shows some Hope
The Case/Shiller Home Price Index reported its best reading in nearly twelve months and the first month-over-month improvement in three years. This is good news, especially when combined with the last few months of improved Existing and New Home Sales.
San Rio Lot owners to Sue Develper
A year away from when they were supposed to start building their dream homes, the buyers are finding themselves paying for nothing...no building..only dirt.
20 of the 60 people who bought lots in San Rio for anywhere from $200,000 to $700,000 are going to sue Wakefield Development Co. claiming misrepresentation. As the lot owners try to get their money back, the town of Shallotte is also trying to collect on the project. The group hired Hodges and Coxe law firm of Wilmington to recover damages.
New Appraisal Rules
Fannie Mae and Freddie Mac made some clarification on its websites to try to dispel confusion over a new code of conduct for home appraisers.Mortgage lenders have been told that appraisers must have experience in the geographic areas where they get assignments.
You can definatly tell summer is here, Hot weather, thunderstorms, BBQ's, open houses, vacationers and outdoors sporting events. This morning I did a double sprint Triathlon in Kure Beach the warm weather and ocean were very inviting. Great to see so many people out there and having fun.
If you are visiting here and thinking of relocating to the Wilmington area, drop me an email or give me a call and we can discuss your options.
This week in Wilmington we have seen some rumbling in the real estate makret. Currently there are 2394 single family homes homes on the market and 797 condos on the market. There are 406 single family homes under contract and 74 condos. Solds in the last 3 months are as follows: 477 homes and 84 condos. Definately some stirring. If you are a first time home buyer dont forget the tax credit is up Dec 1st 2009.
New Washington data suggest recession is over?
US factories had a surge in orders last month everything from computers to aircraft and business investment rose by the most in 5 years. But the drop in new homes sales lets us know that it will be a slow recovery.
Existing Home Sales continue to rise in NC
Existing homes sales rose 2.4% In May. Housing inventory at the end of May fell to 3.5% to 3.80 million existing homes available for sale, which represents a 9.6-month supply at the current sales pace, down from a 10.1-month supply in April. Good news for many home sellers, there is a light at the end of the tunnel.
Wishing all of the fathers a Happy Fathers Day! Sit back and Relax. Wow was it hot in Wilmington this weekend Saturday it reached a record breaking 99F, but if you have the ocean or a swimming pool no need to feel the heat!
Wilmington Real Estate
This week in the Real Estate Market there are 2390 single family homes on the market. 318 homes are currently under contract. 109 homes have sold in the last 3 weeks. The average SP % to LP is 93%. If you are selling your home let me help you come up with a price that will ensure you get it sold swiftly and at the right price. The longer it sits on the market the less your home will get. Email and let me know if I can be of some help.
US Puts more Money into the Foreclosure Program
The Obama administration circulated $50 billion in March to try and entice mortgage lenders to modify loans to help consumers make monthly payments more affordable. However, the plan hasn't been very effective as not many are able to qualify.
The administration last month expanded the program to provide incentives to further encourage lenders to make the short-sale processes easier and quicker.
May Reports show Construction jumps by 17.2%
The Commerce Department reported that construction of new homes and apartments jumped 17.2 percent in May. An adjusted annual rate of 532,000 units. Better than the expected 500,000-unit pace that economists had anticipated and came after construction fell in April to a record low of 454,000 units.
Looking for positive signs? Well here is another one, applications for building permits, a good indicator of future activity, rose 4 percent in May to an annual rate of 518,000 units.
The better-than-expected rebound in construction was the most recent sign that the slump in housing is coming to an end. A plus for the economy.
What a warm week here in Wilmington, and I had a real taste of the heat Saturday morning when I did the Diligence Dash which is a 5k run in historic downtown. The humidity must of been 100%. Great seeing everyone out there. Currently in Wilmington there are 2384 single family homes on the market. 316 homes are under contract and 462 sf homes sold in the last 3 months. First time buyers are racing to get a home under contract to take advantage of the $8000 credit. If you have any questions about this please dont hesitate to email or call me, I would be more than happy to help. If you are thinking of putting your home on the market locally or out of town let me know as I have a fantastic marketing plan for you, or I can provide you with some names of proffessional realtors in your state that do business like I do.
North Carolina Foreclosures are going down.
In the month of May the total number of new foreclosures in the North Carolina was down 32 percent from last year.
There were 2,587 foreclosure filings in the state, or one for every 1,594 homes, during the month. That is down 31.7 percent from May 2008, when 3,786 foreclosure notices were filed.From April to May filings were down 16%
This information was brought to you by RealtyTrac, which tracks default notices, auction sale notices and bank repossessions. The company counts every foreclosure filing.
Housing and Economic Indicators taken from National Association of Realtors.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
