The Week in Review
....your Wilmington Connection
Febuary 13, 2011
Stunning weather to start the Valentine weekend off! Nice day for a cool 10 mile run. I hope you and your family got a chance to get outside and enjoy the weather. Have you been thinking of a new home for the spring? Or need some info about selling your current home. Lets talk about how to make the process easy. Drop me an email or give me a call.
Wilmington NC Real Estate
Spring is around the corner, Real Esate prime selling time. Will it pick up? My thoughts are we will sell more houses this year but at a lower price. It will take some time to repair this market and we are almost there but the recovery will be longer than i am sure some anticipate. Homes are still selling in Wilmington, but only the best priced homes win the buyers. The buyers out there are what i call no-nonsense buyers. They want your home at a good price and why not, since there is so much inventory out there. As a seller you need to make sure you and your agent representing you are on top of your game. There is no point in listing your home if it priced more than your competitiion as you home will just sit there. So be prepared.
Currenlty on the market there are 2034 homes and 163 homes are under contract. Thats less than 10% so we are still in the winter lull. In the last month there have been 97 closed sales with 75% of those being priced below $250,000.
Could New Contsrution be on the rise?
Homebuilder executives and economists predict a post-Super Bowl bounce in demand for residential construction as Americans turn their attention from football to another national pastime: house hunting.
The chief executive officers of six of the 10 largest U.S. homebuilders cited the potential of a sales comeback in the spring, traditionally their strongest season, during conference calls in the last four weeks. Housing forecasts from Fannie Mae and the Mortgage Bankers Association show the new-home market will begin a rebound that will last through at least 2012.
Homebuilder executives and economists predict a post-Super Bowl bounce in demand for residential construction as Americans turn their attention from football to another national pastime: house hunting.
The chief executive officers of six of the 10 largest U.S. homebuilders cited the potential of a sales comeback in the spring, traditionally their strongest season, during conference calls in the last four weeks. Housing forecasts from Fannie Mae and the Mortgage Bankers Association show the new-home market will begin a rebound that will last through at least 2012.
December home sale prices
(December 2009 in parentheses)
Average price of homes closed: $234,980 ($250,145)
Median price of homes closed: $180,000 ($190,000)
- Wilm. Regional Realtors
Mortgage rates
(Feb. 10)
(week earlier in parentheses)
30-year fixed: 5.05% (4.81%)+
15-year fixed: 4.29% (4.08%)+
5-year adjustable: 3.92% (3.69%)-
1-year adjustable: 3.35% (3.26%)-
......until next week in The Week in Review
Tina
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