Melanie Cameron, The Cameron Team
Displaying blog entries 31-40 of 255
"First-time home buyer purchases of short sales dropped to 39.7 percent short sale transactions in August. That represented a three-month slide and was the lowest level for first-time home buyers ever recorded by the HousingPulse Survey."
Happy Monday! I hope you all had a good weekend despite the ever present rain storms we had around here. It looks like that's going to stick around for a few more days but at least we are starting to see a break in the temperature.
To help the economy succeed, the Fed is certainly using it's ability to the max. Coming out of the FOMC meeting Wednesday, the Fed announced, "Operation Twist" - a strategy of selling it's short term securities to buy long-term bonds to drive down long term interest rates, especially for mortgages. This latest Fed effort to help the housing market is good news for anyone thinking of buying or refinancing as rates should stay very low. Only time will tell the long term effects.
We have seen inventory begin to shrink a little. Several factors for this may be that we are heading into the winter/holiday months and/or sellers are deciding to hold off until prices begin to show improvement. If you have a question about homes for sale in your neighborhood or the Wilmington area in general, let us know. We're happy to help!
Wow, what an August we had. With water spouts, earthquakes and hurricanes, what could possibly be next? Hopefully a continued improving economy here and across the world!
Our local market continues to show slow but steady signs of improvement. Our average sold price is down by 1.6% from last month but our sold units are up 4.7% over July. Our sold units hit 426 in August, a 19 unit increase over July. We currently have 4,587 homes on the market which equates to a 10.7 month supply of inventory. While that's still a high number it's MUCH better than the days when we saw 16-17 months worth of inventory. Our average list price for August was a slight decrease and is currently at $350,962.
The list to sale price ratio still remains on the low side at 93.7% and the average days on the market decreased to 150 days in August. The average sold price of $236,178 was a decrease of 1.6% from July and a 1% increase from August 2009. There is currently 676 pending sales in our MLS.
Interest rates remain at record lows (30 year fixed rates at 4.12%) and there continues to be plenty of inventory to choose from. However, the homes that are priced competitively are selling rather quick and I've even seen som multiple offer situations on some deals.
If you have questions, comments or concerns about our market, please give us a call. We're here to help you with all your real estate needs.
Happy Monday! If you're in Southeastern NC, I hope you weathered Hurricane Irene with little or no damage. For such a large storm, this area was relatively lucky. We are pretty resilient here on the coast! Thanks for all the prayers and well wishes.
Freddie Mac released the results of its Primary Mortgage Market Survey (PMMS) today. The study showed that mortgage rates moved higher from the previous week's record lows as Treasury bond yields also moved higher and other housing data showed some signs of improvement. However, the 5-year ARM did decline to 3.07 percent, thereby setting a new all-time record low.
Mortgage rates have been following this trend of up slightly, down slightly for months. Don't look for any large changes soon as the Fed has committed to keeping interest rates low for the near future anyway.
The affordability factor for a home purchase is going to remain fantastic as home prices remain incredibly low and mortgage interest rates remain at or near historic low levels.
Check out our new team photo below! We love it and hope you do too. Have an awesome week and as always, call us for all your real estate needs.
Quote of the Week:
If the facts don't fit the theory, change the facts. ~Albert Einstein
Local Market Statistics
There are currently 4160 single-family homes for sale in New Hanover, Pender and Brunswick Counties. In the last 6 months (2/14/11-7/14/11), 1720 homes have sold. These numbers indicate that if NO other homes are listed for sale that there is approximately 15.5 months worth of inventory.
During the last week (7/07/11-7/14/11):
Please note all of these statistics are based on single-family residential homes for sale in New Hanover, Pender and Brunswick Counties.
In Case You Missed It
A man who helps feed the homeless was given a truck to him by his chruch First Baptist Church Activity Center. Gary Harris received it on his 50th birthday.
Area Happenings
July 24 7:00p Donavon Frankenreiter
August 11 7:30 pm Mary Chapin Carpenter and Special Guest
August 13 8:00 pm Adult Stand-Up Comedy Show with Matt Ward and John McQueen
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
Happy Monday! Congratulations to the USA Women's World Cup Soccer Team for an unbelievable win against Brazil yesterday. Way to represent and good luck in the semi-finals!! Go TEAM USA!!!
June stats are in and we are seeing some ever so slightly good signs. The average sold price in June was up $20,309 over May (a 9.3% gain) and the number of sold units (466 units sold) increased by 32 over last month.
The average list price is currently at $351,978 and the list to sale price ratio for June was at 93.4%. Our average days on the market (DOM) has increased slightly to 167 and with 4,848 homes on the market in our mls, we currently have about a 1.4 month supply of homes on the market.
If you have any questions or concerns about our market, please let us know. We are here 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.
Quote of the Week:
"All changes, even the most longed for, have their melancholy; for what we leave behind us is a part of ourselves; we must die to one life before we can enter another.~Anatole France
Local Market Statistics
There are currently 4250 single-family homes for sale in New Hanover, Pender and Brunswick Counties. In the last 6 months (1/01/11-6/30/11), 1865 homes have sold. These numbers indicate that if NO other homes are listed for sale that there is approximately 13 months worth of inventory.
During the last week (6/23/11-6/30/11):
Please note all of these statistics are based on single-family residential homes for sale in New Hanover, Pender and Brunswick Counties.
In Case You Missed It
The recent drop in gas prices – along with a slowly improving economy – could help spur more Americans to hit the road for the upcoming Fourth of July holiday.
READ STORY
Area Happenings
July 2 North Carolina Symphony~ Stars and Stripes
July 4 July 4th 15th Annual Battleship Blast
http://www.wilmingtontickets.com/Wilmington-nc/events/show/159241185-15th-annual-battleship-blast
July 24 7:00p Donavon Frankenreiter
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
Hope you've had a great weekend and off to a wonderful week.
Sales stats are in for May. Our average sold price in May was $217,849, up $10,500 over April and down $1800 from last May. Our # of sold units hit 396, an increase of 10 units from last month. Considering last year at this time, we were in the midst of the first time tax credit, this isn't all that bad. In May we saw a decrease in inventory by 23 homes. We have 4,864 homes on the market which equates to a 12.2 month supply of homes. Still a high inventory but better than the 18+ month supply of homes we've seen in the past.
Our average list price still remains in the $350's and is currently $350,828 and our average days on the market decreased to 147 days. Our list to sold ratio decreased slightly from last month to 93.6%.
We've seen another recent dip in interest rates so if you're considering buying or refinancing, let us know and we'll point you in the right direction. Any comments, concerns or questions...just give us a call.
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
Quote of the Week:
"Even though we've changed and we're all finding our own place in the world, we all know that when the tears fall or the smile spreads across our face, we'll come to each other because no matter where this crazy world takes us, nothing will ever change so much to the point where we're not all still friends.” Unknown Author
Local Market Statistics
There are currently 4234 single-family homes for sale in New Hanover, Pender and Brunswick Counties. In the last 6 months (12/8/10-6/8/11), 1858 homes have sold. These numbers indicate that if NO other homes are listed for sale that there is approximately 13 months worth of inventory.
During the last week (6/2/11-6/8/11):
Please note all of these statistics are based on single-family residential homes for sale in New Hanover, Pender and Brunswick Counties.
In Case You Missed It
El Agave is relocating to the Independence Mall which will make a lot of people excited. You will be able to get all your Mexican favorites such as enchiladas, burritos and fajitas. They will also have seafood.
Area Happenings
June 11 Beach Music Festival
June 24 Ladies Night Out Concert
July 2 North Carolina Symphony~ Stars and Stripes
July 4 July 4th 15th Annual Battleship Blast
http://www.wilmingtontickets.com/wilmington-nc/events/show/159241185-15th-annual-battleship-blast
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.
Happy Monday!
Well, a less than stellar jobs report last week made everyone a bit nervous about the state of our economic recovery. It'll be interesting to see how reports over the next few weeks and months turn out. Hopefully, it will prove that last months report were just a bleep in the road to recovery. On a good note, we've seen interest rates drop again and are back under 5% which is great news for home buyers.
Home prices are still extremely affordable and with interest rates so low, it's still a great time to get in the market. If you'd like to change or customize your home search, check out our FREE Buyer's Resource site at www.WilmingtonListingsOnline.com
Have a great week and we look forward to helping you with all your real estate needs.
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.
Displaying blog entries 31-40 of 255
