I hope you're having a great week so far and staying warm in this COLD weather!!
As my friend/client, I value your opinion! So, please let me know what you think! All comments and constructive criticisms are welcome!
This week's newsletter features information on the real estate market in Southeastern NC, "10 Real Estate Myths for Buyers and Sellers," a breakdown of Single Family Home sales in New Hanover County from 2000-2008 and Wendy's "Featured Listing" of the week!
I hope you enjoy and please feel free to contact me if you have any information or topics you would like featured in an upcoming newsletter!
Home Sales Show a Surprising Increase in Dec 2008-
Did the bottom of the real estate market just pass us by? Today the National Association of Realtors shocked the market in reporting that “sales rose unexpectedly while inventory declined…” Existing homes sales jumped a whopping 6.5% while existing home inventory plummeted. All very promising housing indicators.
Visit msnbc.com for Breaking News, World News, and News about the Economy
Did the bottom of the real estate market just pass us by? Today the National Association of Realtors shocked the market in reporting that “sales rose unexpectedly while inventory declined…” Existing homes sales jumped a whopping 6.5% while existing home inventory plummeted. All very promising housing indicators.
Now is a fantastic time to purchase a home in Southeastern North Carolina. Don’t be kicking yourself that you waited too long on on purchasing a home and missed out on the best available price.
10 Real Estate Myths for Buyers and Sellers-
Buyer myth No. 1: The longer the house is on the market, the more you can negotiate.
When buyers ask, “How long has this property been on the market?”, they think “six months” means they can negotiate the price down. It more often means the seller is stubbornly holding on to their price.
Buyer myth No. 2: The sellers today are desperate.
Most aren’t. Always ask why the sellers are selling. It’s the key to finding how motivated and anxious they are. “I’m being transferred to Dallas” is a very different answer than “We’d like to find something bigger.” The first homeowner is hot to trot.
Buyer myth No. 3: You can’t buy a home today with less than 20 percent down.
FHA loans require only 3.5 percent down, and you can even ask the seller to pay the closing costs.
Buyer myth No. 4: You need good credit to get a good loan.
Once again, the FHA to the rescue! They’re happy to lend money to buyers with bad credit.
Buyer myth No. 5: You shouldn’t buy before prices have bottomed.
You can’t sharpshoot the real estate market. Once you identify the “bottom,” prices have already moved up.
Seller myth No. 1: Now’s the absolute worst time to sell.
Not necessarily. It depends upon where you live. Many of the worst hit markets, like Las Vegas, Phoenix or San Diego, are already beginning to turn around. And if you’re a homeowner who wants to trade up, the loss you’ll take on your current home will be more than offset by the bargain you’ll get on the next one.
Seller myth No. 2: Never respond to a low-ball bid.
All buyers today feel obligated to put in low-ball offers to see if the seller bites. If you respond with a reasonable counter offer, most buyers can be convinced to come up in price and make the deal.
Seller myth No. 3: The first offer is never the best offer.
Most sellers believe that it’s smart to hold out for something better. But four times out of five, the first offer is the best you’ll ever see.
Seller myth No. 4: ‘I can always reduce my price later.’
Sellers often price their home high for a few weeks just to test the market. But buyers shop by price bracket and if your house is in the wrong one, you’ll just help sell everyone else’s home while yours sits there overpriced. And reducing your price later in small increments puts you in the position of chasing the tide as it goes out.
Seller myth No. 5: Before you refinance, shop around.
You can if you want, but you’ll usually get the best deal from your current lender. And you’ll be able to negotiate your closing costs.
Visit msnbc.com for Breaking News, World News, and News about the Economy
Buyer myth No. 1: The longer the house is on the market, the more you can negotiate.
When buyers ask, “How long has this property been on the market?”, they think “six months” means they can negotiate the price down. It more often means the seller is stubbornly holding on to their price.
Buyer myth No. 2: The sellers today are desperate.
Most aren’t. Always ask why the sellers are selling. It’s the key to finding how motivated and anxious they are. “I’m being transferred to Dallas” is a very different answer than “We’d like to find something bigger.” The first homeowner is hot to trot.
Buyer myth No. 3: You can’t buy a home today with less than 20 percent down.
FHA loans require only 3.5 percent down, and you can even ask the seller to pay the closing costs.
Buyer myth No. 4: You need good credit to get a good loan.
Once again, the FHA to the rescue! They’re happy to lend money to buyers with bad credit.
Buyer myth No. 5: You shouldn’t buy before prices have bottomed.
You can’t sharpshoot the real estate market. Once you identify the “bottom,” prices have already moved up.
Seller myth No. 1: Now’s the absolute worst time to sell.
Not necessarily. It depends upon where you live. Many of the worst hit markets, like Las Vegas, Phoenix or San Diego, are already beginning to turn around. And if you’re a homeowner who wants to trade up, the loss you’ll take on your current home will be more than offset by the bargain you’ll get on the next one.
Seller myth No. 2: Never respond to a low-ball bid.
All buyers today feel obligated to put in low-ball offers to see if the seller bites. If you respond with a reasonable counter offer, most buyers can be convinced to come up in price and make the deal.
Seller myth No. 3: The first offer is never the best offer.
Most sellers believe that it’s smart to hold out for something better. But four times out of five, the first offer is the best you’ll ever see.
Seller myth No. 4: ‘I can always reduce my price later.’
Sellers often price their home high for a few weeks just to test the market. But buyers shop by price bracket and if your house is in the wrong one, you’ll just help sell everyone else’s home while yours sits there overpriced. And reducing your price later in small increments puts you in the position of chasing the tide as it goes out.
Seller myth No. 5: Before you refinance, shop around.
You can if you want, but you’ll usually get the best deal from your current lender. And you’ll be able to negotiate your closing costs.
Courtesy of Barbara Corcoran, MSNBC
New Hanover County. Single Family Home Sales 2000-2008
If you would like a hard copy of this chart or other data charts, please email me - Wendy@SeaCoastRealty.com
Wendy's Featured Listing -
12 Logan Road - Castle Hayne, 28429
This 3 bedroom, 2 bathroom home is located in the well-established, Prince George Estates neighborhood in Castle Hayne. The location provides easy access to those employed by GE as well as convenient access to I-40. This home has an all brick exterior and sits on an almost half acre lot which is plenty of room for kids to play, but can also be easily maintained. It also has a nice size fenced back yard. The home features a brand new roof as well as a new 2 car garage, as of August 2008. The garage is considerably larger than a normal 2 car garage, which provides for extra storage space. This home also has a large living room, perfect for large families or entertaining guests, and an eat-in kitchen. The sale includes a one-year American Home Shield Home Warranty.
| Single Family Home | |
| Bedrooms: | 2 |
| Bathrooms: | 2 Full |
| Square Feet: | 1,622 |
| # Fireplaces: | 1 |
| Year Built: | 1977 |
| MLS Number: | 428149 |
For more information on this property and other featured listings, email me wendy@seacoastrealty.com or visit my website
CARTUS RELOCATION - Referral Network
Did you know that I can help your family and friends buy or sell real estate anywhere in the United States!
Since Coldwell Banker Sea Coast Realty is affiliated with CARTUS- the world's largest relocation network -
I can connect your loved ones with a relocation expert ANYWHERE in the country!
So, the next time you know someone thinking of buying or selling, CALL ME!
I'll make sure they receive the same courteous and professional service I provide for my clients!
Did you know that I can help your family and friends buy or sell real estate anywhere in the United States!
Since Coldwell Banker Sea Coast Realty is affiliated with CARTUS- the world's largest relocation network -
I can connect your loved ones with a relocation expert ANYWHERE in the country!
So, the next time you know someone thinking of buying or selling, CALL ME!
I'll make sure they receive the same courteous and professional service I provide for my clients!
I hope you have enjoyed this newsletter and have a GREAT week!!
As always, if I can help with any of your real estate needs, please don't hesitate to call or email!
Cell - (910) 279-3983
Office - (910) 202-3627
Fax - (910) 795-4268
Wendy@SeaCoastRealty.com
WendyInWilmington.com
As always, if I can help with any of your real estate needs, please don't hesitate to call or email!
Cell - (910) 279-3983
Office - (910) 202-3627
Fax - (910) 795-4268
Wendy@SeaCoastRealty.com
WendyInWilmington.com
Posts
No comments:
Post a Comment