Monday Market Update - May 3, 2011
Happy Monday! What a beautiful weekend! I know I've said it before but I LOVE this time of year!
We continue to see signs of an improving market. Interest rates have dropped a bit recently and sales have continued to increase both here in Wilmington and on a national level. We are seeing more and more first time home buyers come into the market as conditions are perfect for them. With rising rental rates and low interest rates, the market continues to be ripe for the picking for buyers. According to NAR Chief Economist, Lawrence Yun, One positive note that has come out of the mortgage industry fallout of recent years is that we are seeing exceptionally low loan default rates among home buyers over the past 2 years. Hopefully the message of buying within your means has really resonated with buyers.
With all of our homebuyers, and especially our first time homebuyers, we stress the importance of buying within their budget. If you or someone you knows is contemplating a purchase, let us know. We're happy to help.
Have a great week!
Melanie Cameron, Broker 910.233.2840
Susan Harkins, Buyer Specialist, 910.431.2362
Gina Martin, Buyer Specialist, 910.619.1987
Alexa Winstead, Marketing/Closing Coordinator 910.202.2547
Diligently working to exceed real estate expectations in Wilmington, NC and surrounding areas including Ogden, Porters Neck, Wrightsville Beach, Carolina Beach, Castle Hayne, Leland, Burgaw, Rocky Point, and Hampstead.
