The Week in Review
....your Wilmington Connection
December 5, 2010
Aah the cold weather in Wilmington has arrived and perfect time for the Holiday Season! There were some great Christmas parades this past weekend, Ihope you and your family got a chance to get some of the Christmas spirit! Planning on moving to the area? Drop me an email and lets get the search started. Interet rates are on the way up, hurry before its too late.
Wilmington NC Real Estate
Currenlty on the market there are 2159 homes and 240 homes under contract. In the last 3 months there have been 421 homes sold and 249 of those were priced below $250,000 and only 22 of those homes were priced above $700,000.
Coldwell Banker Sea Coast numbers
Last year, we did 579 Million in Closed Sales Volume and around 2850 Closed Transactions. A report from the end of November and this year our sales are even better: we just surpassed 600 Million in Closed Sales with over 3,100 Closed Transactions. With the market being so difficult this is just another reason you need to make sure your real estate transaction goes through Seacoast! Smooth Sailing.
Mortgage Interest Deduction Vital to Home Ownership and Economy
The following is a statement by National Association of Realtors® President Ron Phipps.
"As the leading advocate for housing and home ownership issues, NAR firmly believes that the mortgage interest deduction (MID) is vital to the stability of the American housing market and economy.
"The MID must not be targeted for change. NAR is actively engaged on behalf of the nation's 75 million home owners and 1.1 million Realtors® to ensure that the current deduction is not modified as was recommended in the Deficit Reduction Commission report released today.
"The tax deductibility of interest paid on mortgages is a powerful incentive for home ownership and has been one of the simplest provisions in the federal tax code for more than 80 years. In a new survey commissioned by NAR and conducted online in October 2010 by Harris Interactive of nearly 3,000 homeowners and renters, nearly three-fourths of homeowners and two-thirds of renters said the mortgage interest deduction was extremely or very important to them.
"Recent progress has been made in bringing stability to the housing market and any changes to the MID now or in the future could critically erode home prices and the value of homes by as much as 15 percent, according to our research. This would negatively impact home ownership for millions of Americans,
Mortgage Rates on the Rise
Mortgage rates are on the rise and most recently the 30 yr rates have risen quite a bit of late moving up past 4.5% as of Wednesday.
...until next week in The Week in Review
Tina
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