New Bern is named one of the top 10 Waterfront Towns in the US.

As a native of New Bern and a boater for all my life, this is not a surprise to me. I love the Neuse and Trent River as well as all the creeks that flow into them. The Neuse River is the widest River in the United States and is popular for sailors as well as motor yachts. 

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Congratulations New Bern

Bank Owned-New Bern

The latest numbers for Bank Owned Homes

Click, or copy and paste into your browser, the link below to see the latest list of bank owned homes for sale. 

http://www.easternncmls.com/new/maildoc/roscoe_1369593711-May-26-2013-2_41_51pm.html

In addition to being a Realtor, I also invest in real estate and have bought 10 bank owned properties in the last few years. Occasionally you can find a good deal, however often bank owned properties are in rough shape and will require a cash offer.

Let me know if you have any questions on these, or any other properties you might find.

New Bern Home Sales

How are Home sales year to date?

Lets take a quick look

Jan.1-May 23 2013 homes sold=518

0-$100,000=167

$100,001-$200,000=237

$200,001-$300,000=76

Total new homes sold=66

Total Bank Owned Sold=139=27% of total home sales

Average price sold=$156,852

Average days on market=158

Jan.1-May 23 2012 homes sold=452

0-$100,000=103

$100,001-$200,000=231

$200,001-$300,000=85

Total new homes sold=97

Total Bank Owned Sold=87=19% of total home sales

Average price sold=$161,154

Average days on market=171

So, let's sum it up.

Average sales price  price dropped by $4302. 

Average days on market is down, that could be good news. Some of this could be the result of Bank Owned Homes being priced to sell quickly.

Number of Bank Owned homes sold=60% increase. 

New Home sales are down about 32%. Not sure what is going on with this. 

My overall take is that the number of Bank Owned Homes is continuing to negatively affect the market in the New Bern area. I am still waiting to see this number start to decrease, no sign of it yet.

In some parts of the country Bank Owned homes have been  been absorbed into the market resulting in the average sales price increasing. This could be what is driving the  reports you are hearing in the national news about how well the housing market is doing. It seems to me that the markets that  were  hit hardest and earliest are recovering first. 

Still a tough market. If you would like a report of your neighborhood let me know.

Home Sales in New Bern

The Week in Review

24=Total Sales in the last week. 5 of  the 24 homes sold were over $200,000 and the most expensive home sold was $395,000. 7 of the 24 homes sold were Bank Owned. Ouch, that is not good. When will all the foreclosures end? Good question, and we will explore that more at later date.

23=Total Sales in the last year, same date. 7 of the 23 sold were over $200,000 and the most expensive home sold was $695,500. 4 of the 23 sold were Bank Owned.

Have a great Weekend,

New Homes for Sale in New Bern

Is a new home in your future?

There is quite a nice selection of new homes for sale in New Bern. And the prices are very competitive with existing homes for sale. Combine that with the fact that interests rates have never been lower and it all adds up to a great time to buy a new house. 

Perhaps your family is growing and you need more space. Or, you are empty nesters and are looking to downsize. What ever the reason, we are ready to help you find the right new home for you. 

For a list of new homes currently on the market click the link below. If you have any questions about any of these homes give me a call at 252 514 9157.

http://www.easternncmls.com/new/maildoc/tysojs_1368653761-May-15-2013-5_36_01pm.html

Bank Owned Homes in New Bern

Current list of Bank Owned Homes for sale in New Bern

Click the link below, or copy and paste into your browser, to view a current list of Bank Owned Homes for sale in New Bern. Many times Bank Owned Homes are in need ofs that will be necessary to make the house livable. Often it just makes more sense to purchase a well valued non distressed home.

If you have any questions on these or any other homes for sale give me a call.

http://www.easternncmls.com/new/maildoc/tysojs_1368550065-May-14-2013-12_47_45pm.html

New Bern Home sales in May

How are home sales  May 1-9 2013

Here is how they compare to to years past.

2013=21

2012=25

2011=30

2010=23

I told my wife the other day things seemed to be slowing down a little and according to this data I may be right. We will continue tracking the market and see how May finishes up.

This chart shows the Home absorption rate by in various neighborhoods and areas. The lower the number the better. Rule of thumb is that anything more than 6 months is a buyers market. The bottom line is that we are still in a tough real estate market.

If you would like a custom absorption chart for your neighborhood let me know.

Ever wonder how much a boat slip cost? The link below will show you all the boat slips in the area that are for sale. All but one are in Pamlico County.

http://www.easternncmls.com/new/maildoc/roscoe_1367582970-May-03-2013-8_09_30am.html

Only two have sold in the last two years so it is a buyers market for sure. If you are a serious sailor and are in need of a place to park your boat, give me a call.

We also have some reasonably priced deep water lots on protected water for sale. Great time to buy waterfront as the supply is limited.