Home Sales in New Bern Year-to-Date August 2014

How are home sales so far this year? Let's take a look at closed homes through 8-9-14 in Craven County and
compare to the past 2 years.

2014

$0-$100,000=150 sold There are currently 242 homes for sale in this price-range. This is about 12 months of inventory.

$100,001-$200,000=331 sold There are currently 477 homes for sale in this price-range. This is about 10 months of inventory.

$200,001-$300,000=125  sold There are currently 203 homes for sale in this price-range. This=12 months of inventory.

$300,001-$500,000=45 sold There are currently 119 homes for sale in this price-range. This is about 19 months of inventory.

Over $500,000=9 sold There are currently 61 homes for sale in this price-range. This is about 52 months of inventory. 

2013

$0-$100,000=184 vs 150 for 2014

100,001-$200,000=321  vs 331

$200,001-$300,000=127 vs 125

$300,001-$500000=39  vs 45

Over $500,000=12 vs 9

2012

$0-$100,000=112 vs 150

$100,001-$200,000=327 vs 331

$200,001-$300,000=117 vs 125

$300,001-$500000=45 vs 45

Over $500,000=8 vs 9

The under $100,000 sales are down but I have been expecting that as bank owned sales and foreclosures are down. Many of the sales in this range were and still are forelosures.

$100,000-$200000 sales are up by a small amount, not enough to affect prices at this time, but better than nothing.

$200000-$300000 sales are down by just about flat, I would rather see it up, but nothing earth shattering.

$300000-$500000 sales up, not by a big margin and still good news.

$500000 and over sales are down by 25%. What I believe is going on here is that buyers in this range are hesitant to buy.  High end home values were hit the hardest in the housing recession. Some buyrs are opting to rent or buy in a lower price ranges. 

WHAT DOES THIS MEAN, FOR THE HIGHER END PRICE-RANGES? IT IS A STRONG BUYER'S MARKET. IF YOU OR ANYONE YOU KNOW IS LOOKING FOR A HOME OVER 500K, TELL THEM TO CALL ME TODAY. THERE ARE A LOT OF MOTIVATED SELLERS IN THIS RANGE AND I KNOW WHICH HOMES ARE EXCEPTIONAL DEALS! CALL 252-675-9595 OR 252-514-9157

TO SEE HOMES FROM 500k-750k

If you know anyone that owns a high-end home they need to sell, we are uniquely qualified to help them. Not all agents are the same. Sellers frequently make the costly mistake of choosing their agent because the agent is a friend, neighbor, or fellow church member. And, sometimes they select their agent because their children 

are friends with the agent's children. 

If you were ill, would select a doctor based on that criteria?

Buying and Selling real estate is a MAJOR BUSINESS DECISION.Buyers and sellers need honest, informed, and experienced agents.
They need an agent that will tell them the truth,
even if it is not what they want to hear.

WHEN YOU HIRE THE TYSON GROUP

Steve and Jana J.

YOU GET THE FACTS-GOOD, BAD OR UGLY!

MAYBE SELLING IS NOT THE BEST OPTION.

RIVERTOWNE  RENTALS offers focused management for all price ranges and Specializes in Upscale Home Property Management.

If you know someone that does not want to sell for today's prices, have them give us a call.  They might be surprised at how much income we can get them! We manage several properties with rental proceeds over $2000 monthly and even a few over $3000 monthly. Call Us!

RIVERTOWNERENTALS.INFO OR 252-638-6868

For all your real estate needs go to New Bern Real Estate. If you have any questions about the market in the New Bern area give us a call. 

WE DEFINITELY BELIEVE YOU WILL ENJOY THIS HANDY APP. 

DOWNLOAD IT ON YOUR SMART PHONE, ACCEPT THE TERMS OF USE.

 ANYTIME YOU WANT PHOTOS AND INFO ABOUT AREA HOMES, OPEN THE APP AND CLICK "NEARBY HOMES". THE APP RECOGNIZES YOUR LOCATION, SO IF YOU ARE SITTING IN FRONT OF A HOME THAT IS FOR SALE OR RENT,  YOU HAVE THE DATA  IN THE PALM OF YOUR HANDS.

CLICK TO DOWNLOAD THE TYSON GROUP APP

Homes for sale in Hardee Farms

Hardee Farms is New Bern's newest and most exciting community. With a very appealing location and a wide assortment of home plans this community has a lot ti offer to young families and retirees. 

For folks with young children Hardee Farms is less than a mile from Creekside Elementary School, the highest rated elementary school in the county. How convenient is that?

As an added bonus Hardee Farms is about a mile from the largest county park. Did you know in Creekside Park you can fish and launch a canoe in Brices Creek?

Hardee Farms is about 12 minutes from historic downtown New Bern

And 20 minutes from Cherry Point. Hardee Farms has a selection of new homes starting in the low $160,000's. The first phase is almost sold out. Don't wait, call Steve Tyson today at 252 514 9157 and lets look at some houses.

For a list of Homes for sale in Hardee Farms, click the link below.

Hardee Farms homes for sale

To search all homes for sale go to www.newbern-nc.info

How is the Rental Market in New Bern?

How are Rentals doing in the New Bern area?

Pretty good according to property managers that I speak to. I spoke to the manager of Rivertowne Rentals recently and she told me that of the 150 rentals that they have only a few were not leased. She said she gets calls all the time from folks looking to rent but right now they have limited inventory. Other property managers say they are busy as well. 

If you are trying to sell you home and are not having any success then  perhaps you should consider renting. Especially if you have moved and are no longer living in the home. The expense of a vacant home can really add up. Light bill, insurance, yard maintenance, water and sewer bills, really get old after a while. Even if you rent the home at a loss it is usually better than than the house being vacant. Below is an example of the expenses you will have to carry a vacant home.

1. House payment=$1300.00
2. Light bill, if home is empty=$175.00
3. Water and sewer bill, if house is empty, $30.00
4. Yard work=$100.00
5. Total =$1605

Lets say you get $1200 a month rent with an average occupancy rate of 90% and a Management fee of 10%.

$1200x.90x.90=$972. On paper you are losing $328 a month or $3936 a year. This is about the amount it will cost you if the house is vacant to carry it 2.5 months. 

Here are my thoughts. If you are upside down on your home, and millions of Americans are, here are your options if you need to sale your home.

1. Sell it for current market value and bring money to the closing.
2. Try to sale a home for more than it is worth in today's market. Hint, this never works.
3. Rent the house and let a tenant make most of the payment for you. 

Option 3 may be the best option for many folks. Here is why. The market seems to have bottomed out and hopefully will start moving upwards. It will take a while to get back to the values of 2006-2007. But they will come back. In the meantime you are paying down the loan.

If you would like to have a free consultation to discuss renting your home, give us a call. We look forward to helping you with your real estate needs.

Luxury Homes for sale in New Bern NC

What is a luxury home? Good question, and I am not sure if there is an accurate definition. But for now, I am going to say homes priced over $500,000. 

Currently there are 98 homes for sale in Craven County, New Bern, and Pamlico County, Oriental. Wow, that is a lot of homes for sale. In the last year 32 homes in this price range sold. That is a 3 year absorption Rate. Great news for buyers. Lots of homes to choose from. Not so good news for sellers. 

If you are in this price range and are thinking about selling your house, you better hire a top agent who is not afraid to tell you the truth about the value of your home and how long to expect it will take to sell it. 

For a list of the current homes for sale priced over $500,000, click the link below.

New Bern Luxury Homes for sales

To search all homes for sale in the New Bern area go to 

New Bern Real Estate

Thanks and have a great day,

New home sales in the New Bern area

New Home sales in New Bern

So, how are new home sales in the New Bern area? Not so great according to the latest data. Lets take a look at the last 3 years.

2014= 92 new units sold

2013=106 new units sold 

2012=144 new units sold 

Below is a list of new homes for sale. 

New Homes for sale in New Bern

Still a tough market for new homes, but it in line with my prediction back in January. The demand for new homes is just not there right now. And it likely will not come back in the immediate future. For now, there are plenty of newer homes for sale priced reasonably. And many buyers are opting to buy these in lieu of buying or building a new home. 

There is some potential good news in the wake of all this. Several high end builders I have spoken with lately have told me they are talking to folks that bought lots some years ago and are now ready to build. I certainly welcome that news, building employs a lot of of workers, many that have been under employed for years.

To search all homes for sale and learn about the latest in real estate go to

New Bern Homes for sale