Monday Market Update - November 29, 2010
Happy Monday!
I hope you had a fabulous Thanksgiving and enjoyed the extended weekend. I had a great time with my family and was thankful to have the time with them.
Recently, when I've spoken to seller's about listing their home and bring up the short sales and foreclosures in the area they are sometimes under the impression that because the homes are "distressed sales" they aren't good comparables and shouldn't be considered. Unfortunately, that's not the case. With the number of distressed properties we are seeing in the market the sells are legitimate comparables just as much as the active distressed properties are legitimate competition. Appraisers now are required to let lenders know if there are "distressed properties" in the general area of the home they are lending money on so they can establish whether or not the area is a "declining market" or not. So, make sure when you are ready to sell that you look at the big picture of the market to make sure you are priced competitively to increase the likelihood of your home selling faster and for more money! Get your local home's value at www.WilmingtonHomeValuesOnline.com
Questions or comments, please give us a call. We're here for all your real estate needs.
Melanie Cameron, Broker 910.233.2840
Susan Harkins, Buyer Specialist, 910.431.2362
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.
P.S. If you would like to receive this update on Monday via e-mail, you can sign-up for our weekly newsletter by sending us a quick contact.
