New Bern NC Real Estate Sales

For the week 3-23 through 3-29 there were 20 residential properties sold in Craven and Pamlico Counties. Currently there are 1513 properties listed.

That is quite a lot of inventory, about a year and a half worth. Definitely a buyers market so if you are selling you better price it right or your house is likely to sit for a long time.

Some of the ecomonist are projecting the real estate market will bottom out in the first quarter of 2010. If I am a buyer I would not try to time the bottom as it is not worth the risk of missing out on the attractive interest rates.

New Bern Habitat for Humanity Fundraiser

Craven County Fairgrounds Yard Sale to benefit habitat for Humanity

Don't throw it away. We need it.

Please donate your treasures, junk to support this worthy charity. All proceeds will benefit Habitat for Humanity.

This is an indoor yard sale at the fairgrounds. Rain or shine.

April 4, 2009 Saturday

7am till 12 noon

Craven County Fairgrounds Highway 70 East

Garage sale items can be dropped off at the Keller Williams Realty Office.

Support this worthy cause and clean out your garage.

First Time Homebuyers

I have blogged about the tax credit for new home buyers before but need to clear up a few issues. As you know first time home buyers are eligible for a tax credit of 10% of the purchase price of a home up to a maximum of $8000.00. Something I just learned about is that you will get the full $8000 tax credit even if you do not pay $8000 in federal income tax. Even more reason toget out there and buy that first house.

New Bern NC Home Sales

For the week of 3-16-3-22 there were 7 residential closings. Prices ranged from $119,000-$285,000. During this same time frame there were 23 homes that went under contract at an average price of $155,000.

Let's face it. It is a tough market, especially in the above $250,000 price range.

In today's competitive real estate market you need to have an experienced real estate broker working for you. You need the Tyson Group. Call us today, 252 514 9157.

New Bern NC closed properties

There were 9 closed properties in the greater New Bern area from 3-7 through. Of these only one was over $185000 which indicates what that there is still a definite buyers market in the higher end homes.

New Bern NC Homeowners

If you are behind in your house payments some potential good news for you if your mortgage is guarenteed by Freddie Mac or Fannie Mae. These 2 government agencies will be working to try and prevent an estimated 4 million homeowners that are in danger of losing their homes. As of 2008 Fannie Mae and the Freddie Mac owned or guaranteed about half of the U.S.'s $12 trillion mortgage market. If your loan is not guarenteed by one of these two contact the financial institution that handles your loan and see if they have any programs that might give you some relief.

Fannie and Freddie are going to be doing some creative things to help struggeling homeowners. Among them are reducing interest rates, in some cases to as low as 2%, extending the loan term to 40 years, and and some cases actually reducing the balance.

We will expand on this subject later soon to give you some specific information. Stay tuned for more realty news.

New Bern and Havelock Real Estate.

New Bern and Havelock had a pretty busy day. Eight homes went under contract today ranging in price from $75000 to $275000. In addition seven properties closed. Not bad but don't think we out out of the housing slump yet but if we continue to chip away at existing inventory we will all be better off. Stay tuned.

New Bern Things to Do

The first Artwalk of the season will begin this Friday, March 13 at 5:00 pm. Craven Arts Council, Carolina Creations, Arts and Materials, and New Bern Art Gallery will be open. It's a fun filled evening that the whole family can enjoy. I hope to see you there.

Steve

Good Real Estate News

Are you ready for some good real estate news? We hear all about the bad news everyday in the national news and they conveniently forget to tell the good news and believe it or not there is good news out there.

First of all, the housing affordability index is the highest it has been since they started keeping track of it in 1970. When you combine, interest rates, home prices, and median income things look good especialy for first time home buyers.

Home inventory dropped in January to the lowest number in two years and with builders holding off starting new homes it should shrink even more. And let's not forget about the $8000 tax credit for first time home buyers.

Yes, there are areas in the country that have not seen much good news and will face challenges for years to come. Lucky for us, I believe the worst may be behind us in New Bern and look forward to better days.

New Bern NC closings

There were 16 homes and or properties sold during the week of March 2 through March 6. This was down from 29 closings the week before. For the year to date sales are off by 38 percent.

What does this mean for you. Well, if you are a buyer great news. Interest are near a 60 year low, leanders are still leaning if you have good credit, and prices are more reasonable.

Should you buy a house in New Bern or Havelock now?I think it is a good time to buy if you need a home. Sure real estate prices could slide a little but if interest rates go up it could more than offset and decrease in real estate prices. So the expert, me, says buy now.

On the seller side it is a different story. Unless you have a very unique piece of property you are going to have to get real with the pricing of your home. I am seeing to many homes priced for the market we were experiencing 2 years ago. Get real with your price if you wantto sellin todays buyers market.