Eastern North Carolina Real Estate Blog

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July 28, 2022

7 Costly Mistakes Home Sellers Make (And How to Avoid Them)

7 Costly Mistakes Home Sellers Make (And How to Avoid Them)

 

No matter what’s going on in the housing market, the process of selling a home can be challenging. Some sellers have a hard time saying goodbye to a treasured family residence. Others want to skip ahead to the fun of decorating and settling into a new place. Almost all sellers want to make the most money possible. 

 

Whatever your circumstances, the road to the closing table can be riddled with obstacles — from issues with showings and negotiations to inspection surprises. But many of these complications are avoidable when you have a skilled and knowledgeable real estate agent by your side.

 

For example, here are seven common mistakes that many home sellers make. These can cause anxiety, cost you time, and shrink your financial proceeds. Fortunately, we can help you avert these missteps and set you up for a successful and low-stress selling experience.

 

 

MISTAKE #1: Setting an Unrealistic Price 

 

Many sellers believe that pricing their homes high and waiting for the “right buyers” to come along will net them the most money. However, overpriced homes often sit on the market with little activity, which can be the kiss of death in real estate — and result in an inevitable price drop.1

 

Alternatively, if you price your home at (or sometimes slightly below) market value, it can be among the nicest that buyers see within their budgets. This can increase your likelihood of receiving multiple offers.2

 

To help you set a realistic price from the start, we will do a comparative market analysis, or CMA. This integral piece of research will help us determine an ideal listing price based on the amount that similar properties have recently sold for in your area.

 

Without this data, you risk pricing your home too high (and getting no offers) or too low (and leaving money on the table). We can help you find that sweet spot that will draw in buyers without undercutting your profits.  

 

 

MISTAKE #2: Trying to Time the Market

 

You’ve probably heard the old saying, “Buy low and sell high.” But when it comes to real estate, that’s easier said than done. 

 

Delaying your home sale until prices have hit their peak may sound like a great idea. But sellers should keep these factors in mind:

 

  1. Predicting the market with certainty is nearly impossible.
  2. If you wait to buy your next home, its price could increase as well. This may erode any additional proceeds from your sale.
  3. If mortgage rates are rising, your pool of potential buyers could shrink — and you would have to pay more to finance your next purchase.

 

Instead of trying to time the market, choose your ideal sales timeline. This may be based on factors like your personal financial situation, shifting family dynamics, or the seasonal patterns in your neighborhood. We can help you figure out the best time to sell given your individual circumstances.

 

 

MISTAKE #3: Failing to Address Needed Repairs 

 

Many sellers hope that buyers won’t notice their leaky faucet or broken shutters during home showings. But minor issues like these can leave buyers worrying about more serious — and costly — problems lurking out of sight. 

 

Even if you do receive an offer, there’s a high likelihood that the buyer will hire a professional home inspector, who will flag any defects in their report. Neglecting to address a major issue could lead buyers to ask for costly repairs, money back, or worse yet, walk away from the purchase altogether.

 

To avoid these types of disruptions, it’s important to make necessary renovations before your home hits the market. We can help you decide which repairs and updates are worth your time and investment. In some cases, we may recommend a professional pre-listing inspection. 

 

This extra time and attention can help you avoid potential surprises down the road and identify any major structural, system, or cosmetic faults that could impact a future sale.3 

 

 

MISTAKE #4:  Neglecting to Stage Your Home

 

Staging is the act of preparing your home for potential buyers. The goal is to “set the stage” to help buyers envision themselves living in your home. Some sellers opt to skip this step, but that mistake can cost them time and money in the long run. A 2021 survey by the Real Estate Staging Association found that, on average, staged homes sold nine days faster and for $40,000 over list price.4

 

Indoors, staging could include everything from redecorating, painting, or rearranging your furniture pieces to removing personal items, decluttering, and deep cleaning. Outdoors, you might focus on power washing, planting flowers, or hanging a wreath on the front door.

 

You may not need to do all these tasks, but almost every home can benefit from some form of staging. Before your home hits the market, we can refer you to a professional stager or offer our insights and suggestions if you prefer the do-it-yourself route.

 

 

MISTAKE #5: Evaluating Offers on Price Alone

 

When reviewing offers, most sellers focus on one thing: the offer price. While dollar value is certainly important, a high-priced offer is worthless if the deal never reaches the closing table. That’s why it’s important to consider other factors in addition to the offer price, such as:

 

  • Financing and buyer qualifications
  • Deposit size
  • Contract contingencies
  • Closing date
  • Leaseback options

 

Depending on your circumstances, some of these factors may or may not be important to you. For example, if you’re still shopping for your next home, you might place a high premium on an offer that allows for a flexible closing date or leaseback option.

 

Buyers and their agents are focused on crafting deals that work well for them. We can help you assess your needs and goals to select an offer that works best for you. 

 

 

MISTAKE #6: Acting on Emotion Instead of Reason 

 

It’s only natural to grow emotionally attached to your home. That’s why so many sellers end up feeling hurt or offended at some point during the selling process. Low offers can feel like insults. Repair requests can feel like judgments. And whatever you do — don’t listen in on showings through your security monitoring system. Chances are, some buyers won’t like your decor choices, either!

 

However, it’s a huge mistake to ruin a great selling opportunity because you refuse to counter a low offer or negotiate minor repairs. Instead, try to keep a cool head and be willing to adjust reasonably to make the sale. We can help you weigh your decisions and provide rational advice with your best interests in mind.

 

 

MISTAKE #7: Not Hiring an Agent

 

There’s a good reason 90% of homeowners choose to sell with the help of a real estate agent. Homes listed by agents sold for 22% more than the average for-sale-by-owner home, according to a recent study by the National Association of Realtors.5 

 

Selling a home on your own may seem like an easy way to save money. But in reality, there is a steep learning curve. And a listing agent can: 

 

  • Skip past time-consuming problems 
  • Use market knowledge to get the best price
  • Access contacts and networks to speed up the selling process 

 

If you choose to work with a listing agent, you’ll save significant time and effort while minimizing your personal risk and liability. And the increased profits realized through a more effective marketing and negotiation strategy could more than make up for the cost of your agent’s commission.

 

We can navigate the ins and outs of the housing market for you and make your selling process as stress-free as possible. You may even end up with an offer for your home that’s better than you expected.

 

 

BYPASS THE PITFALLS WITH A KNOWLEDGEABLE GUIDE

 

Your home selling journey doesn’t have to be hard. When you hire us as your listing agent, we’ll develop a customized sales plan to help you get top dollar for your home without any undue risk, stress, or aggravation. If you’re thinking of buying or selling a home, reach out today to schedule a free consultation and home value assessment.

 

 

Sources:

  1. The Washington Post -
    https://www.washingtonpost.com/business/2019/07/22/just-because-its-sellers-market-doesnt-mean-you-should-overprice-your-home/
  2. Realtor.com -
    https://www.realtor.com/advice/sell/spark-a-bidding-war-for-your-home/
  3. American Society of Home Inspectors - https://www.homeinspector.org/Newsroom/Articles/Before-You-Sell-6-Reasons-to-Get-a-Pre-Listing-Inspection/15766/Article
  4. Real Estate Staging Association -
    https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548
  5. National Association of Realtors -
    https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics 
Posted in Tips for The Home
Jan. 3, 2022

A Return to ‘Normal’? The State of Real Estate in 2022

Sneads Ferry Realtor

A Return to ‘Normal’? The State of Real Estate in 2022

 

 

Last year was one for the real estate history books. The pandemic helped usher in a buying frenzy that caused home prices to soar nationwide by a record 19.9% between August 2020 and August 2021.1

 

However, there were signs in the fourth quarter that the red-hot housing market was beginning to simmer down. In the month of October, only 60.3% of sales involved a bidding war—down from a high of 74.5% in April.2 While this trend could be attributed to seasonality, it could also be a signal that the real estate run-up may have passed its peak.

 

So what’s ahead for the U.S. housing market in 2022? Here’s where industry experts predict the market is headed in the coming year.

 

 

MORTGAGE RATES WILL CREEP UP

 

Most economists expect to see mortgage rates gradually rise this year after hitting record lows in late 2020 and early 2021.3

 

Freddie Mac forecasts the 30-year fixed-rate mortgage will average 3.5% in 2022, up from around 3% in 2021.4

 

The Mortgage Bankers Association predicts that rates will tick up to 4% by the end of the year. "Mortgage lenders and borrowers should expect rising mortgage rates over the next year, as stronger economic growth pushes Treasury yields higher," said Mike Fratantoni, chief economist for the Mortgage Bankers Association at their 2001 Annual Convention & Expo in October.5

 

However, it’s important to keep in mind that even a 4% mortgage rate is low when compared to historical standards. According to industry trade blog The Mortgage Reports, “Between 1971 and December 2020, 30-year mortgage rates averaged 7.89%.”6

 

What does it mean for you? Low mortgage rates can reduce your monthly payment and make homeownership more affordable. Fortunately, there’s still time to lock in a historically-low rate. Whether you’re hoping to purchase a new home or refinance an existing mortgage, act soon before rates go up any further. We’d be happy to connect you with a trusted lending professional in our network.

 

 

THE MARKET WILL BECOME MORE BALANCED

 

In 2021, we experienced one of the most competitive real estate markets ever. Fears about the virus and a shift to remote work triggered a huge uptick in demand. At the same time, many existing homeowners delayed their plans to sell, and supply and labor shortages hindered new construction.

 

This led to an extreme market imbalance that benefitted sellers and frustrated buyers. According to George Ratiu, director of economic research at Realtor.com, “Prices and sellers reached for the moon [last] year. It looks like we are now about to move back to earth.”7

 

Data from Realtor.com released in November showed that listing price reductions had more than doubled since February 2021. And the average days on market (an indicator of how long it takes a home to sell) has been slowly creeping up since June.7

 

What’s causing this change in market dynamics? The real estate market typically slows down in the fall and winter. But economists also suspect a fundamental shift in supply and demand.

 

At the National Association of Realtors’ annual conference last November, the group’s chief economist, Lawrence Yun, told attendees that he expects increased supply to come from an uptick in new construction—which is already underway—and an end to the mortgage forbearance program. “With more housing inventory to hit the market, the intense multiple offers will start to ease,” he said.8

 

Demand is also predicted to wane slightly in the coming year. Rising mortgage rates and record-high prices have made homeownership unaffordable for a growing number of Americans. And in a recent Reuters poll, nearly 80% of property analysts said they expect housing affordability to worsen over the next several years.9

 

What does it mean for you? If you struggled to buy a home last year, there may be some relief on the horizon. Increased supply and softening demand could make it easier to finally secure the home of your dreams. If you’re a seller, it’s still a great time to cash out your big equity gains! And with more inventory on the market, you’ll have an easier time finding your next home. Reach out for a free consultation so we can discuss your specific needs and goals.

 

 

HOME PRICES LIKELY TO KEEP CLIMBING, BUT AT A SLOWER PACE

 

Nationally, home prices rose an estimated 16.8% in 2021.8 But the average rate of appreciation is expected to slow down in 2022.

 

Danielle Hale, chief economist at Realtor.com, told Yahoo! News, “Home asking prices have decelerated in the second half of 2021, with median listing price growth slipping from a peak of 17.2% in April to just 8.6% in October.”10

 

But experts disagree about how much more property values can continue to climb this year. Goldman Sachs predicts that home prices will rise by 13.5%, while Fannie Mae and Freddie Mac are forecasting a 7.9% and 7% rate of appreciation, respectively.2

 

However, not all analysts are as bullish. The National Association of Realtors predicts a 2.8% rate of appreciation for existing homes and 4.4% for new homes, while the Mortgage Bankers Association expects the average home price to decrease by 2.5% by the end of the year.10,2

 

According to Hale, “With prices near all-time highs and mortgage rates expected to rise, we expect this slowdown in prices to continue.”10

 

What does it mean for you? If you’re a buyer who has been waiting on the sidelines for home prices to drop, you may be out of luck. Even if home prices dip slightly (and most economists expect them to rise) any savings are likely to be offset by higher mortgage rates. The good news is that decreased competition means more choice and less likelihood of a bidding war. We can help you get the most for your money in today’s market.

 

 

RENTS WILL CONTINUE TO RISE

 

Along with home, gasoline, and used vehicle prices, rent prices rose dramatically last year. According to CoreLogic, in September, rents for single-family homes were up 10.2% nationally year over year.11 And economists at Realtor.com expect them to climb another 7.1% in 2022.12

 

“Homes are expensive now...but for most people, the comparison that is most important is how that cost of homeownership is going to compare to the cost of renting,” Zillow Senior Economist Jeff Tucker told CNBC in November.13

 

Tucker also pointed out that rent is less predictable than a mortgage—and more likely to go up along with inflation.13

 

Real assets, like real estate, are often used as a hedge against inflation. That’s because property values typically rise with inflation.14 And when a homeowner takes out a mortgage, they lock in a set housing payment for the next 30 years.

 

In contrast, renters are at the mercy of the market—and they don’t gain any of the benefits of homeownership, like tax deductions, equity, or appreciation.

 

George Ratiu of Realtor.com told CNBC that he advises buyers to consider their budget and time frame. If they plan to stay in the home for at least three to five years, he believes it often makes sense to buy.13

 

Fortunately, it’s shaping up to be a better year for buyers. “I think 2022 has the promise of providing less competition, a lot more homes to choose from, and, as a result, a lot more approachable prices,” Ratiu said.13

 

What does it mean for you? Both property and rent prices are expected to continue rising. But when you purchase a home with a fixed-rate mortgage, you can rest assured knowing that your monthly mortgage payment will never go up. Whether you’re a first-time homebuyer or a real estate investor, we can help you make the most of today’s real estate market.

 

 

WE’RE HERE TO GUIDE YOU

 

While national real estate numbers and predictions can provide a “big picture” outlook for the year, real estate is local. And as local market experts, we can guide you through the ins and outs of our market and the local issues that are likely to drive home values in your particular neighborhood.

 

If you’re considering buying or selling a home in 2022, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year.

 

 

Sources:

1.     Fortune -
https://fortune.com/2021/11/04/us-home-prices-real-estate-forecast-2022-outlook/

2.      Fortune -
https://fortune.com/2021/11/29/housing-market-real-estate-predictions-2022-forecast/

3.      Freddie Mac -
http://www.freddiemac.com/pmms/pmms30.html

4.      Freddie Mac - https://freddiemac.gcs-web.com/news-releases/news-release-details/freddie-mac-strong-housing-market-will-continue-even-rates-and

5.      Mortgage Bankers Association -
https://www.mba.org/2021-press-releases/october/mba-annual-forecast-purchase-originations-to-increase-9-percent-to-record-173-trillion-in-2022

6.      The Mortgage Reports -
https://themortgagereports.com/61853/30-year-mortgage-rates-chart

7.      Realtor.com -
https://www.realtor.com/news/trends/has-housing-market-peaked/

8.      National Association of Realtors -
https://www.nar.realtor/newsroom/nars-yun-says-housing-market-doing-well-may-normalize-in-2022

9.      Reuters -
https://www.reuters.com/world/us/rise-us-house-prices-halve-next-year-affordability-worsen-2021-12-07/

10.   Yahoo! News -
https://www.yahoo.com/now/where-home-prices-headed-2022-130012748.html

11.   CNBC -
https://www.cnbc.com/2021/11/16/inflation-rent-for-single-family-homes-surged-10percent-in-september.html

12.   Realtor.com -
https://www.realtor.com/news/trends/what-to-expect-in-2022-housing-market/

13.   CNBC -
https://www.cnbc.com/2021/11/23/rising-inflation-hot-housing-market-what-you-need-to-know-about-buying-a-home.html

Money -
https://money.com/inflation-2021-stocks-bitcoin-gold-reits-commodities/

Posted in Market Report
Sept. 22, 2021

9 Tips for Buying and Selling Your Home at the Same Time

9 Tips for Buying and Selling Your Home at the Same Time

 

Selling your home when you still need to shop for a new one can feel daunting to even the most seasoned homeowner––especially when the demand for new homes keeps rising, but the supply feels like it's dwindling.¹ You're not alone either if you're already feeling drained by the complex logistics of trying to sell and buy a new home all at once.

 

Searching for a new home can be exciting, but many homebuyers admit that it can also be stressful, especially if you live in an unpredictable market with plenty of competitors. Unfortunately, waiting out a competitive housing market isn’t always the best idea either since listings are expected to remain limited in the most coveted neighborhoods for some time.²

 

That doesn't mean, though, that you should just throw up your hands and give up on moving altogether. In fact, as a current homeowner, you could be in a better position than most to capitalize on a seller’s market and make a smooth transition from your old home to a new one.

 

We can help you prepare for the road ahead and answer any questions you have about the real estate market. For example, here are some of the most frequent concerns we hear from clients who are trying to buy and sell at the same time.

 

 

“WHAT WILL I DO IF I SELL MY HOUSE BEFORE I CAN BUY A NEW ONE?”

 

This is an understandable concern for many sellers since the competitive real estate market makes it tough to plan ahead and predict when you'll be able to move into your next home. But chances are, you will still have plenty of options if you do sell your home quickly. It may just take some creativity and compromise.

 

Here are some ideas to make sure you're in the best possible position when you decide to list your home:

 

Tip #1: Flex your muscles as a seller.

In a competitive market, buyers may be willing to make significant concessions in order to get the home they want. In some cases, a buyer may agree to a rent-back clause that allows the seller to continue living in the home after closing for a set period of time and negotiated fee.

 

This can be a great option for sellers who need to tap into their home equity for a downpayment or who aren’t logistically ready to move into their next home. However, many lenders limit the duration of a rent-back to 60 days, and there are liability issues to consider before entering into an agreement. A contract and security deposit should be in place in case of any property damage or unexpected repairs that may be needed during the rent-back period.³

 

Tip #2: Open your mind to short-term housing options.

While it can be a hassle to move out of your old home before you’re ready to move into your new one, it’s a common scenario. If you’re lucky enough to have family or generous friends who offer to take you in, that may be ideal. If not, you’ll need to find temporary housing. Check out furnished apartments, vacation rentals and month-to-month leases. If space is an issue, consider putting some of your furniture and possessions in storage.

 

You may even find that a short-term rental arrangement can offer you an opportunity to get to know your new neighborhood better—and lead to a more informed decision about your upcoming purchase.

 

Tip #3: Embrace the idea of selling now and buying later.

Instead of stressing about timing your home sale and purchase perfectly, consider making a plan to focus on one at a time. Selling before you’re ready to buy your next home can offer a lot of advantages.

 

For one, you’ll have cash on hand from the sale of your current home. This will put you in a much better position when it comes to buying your next home. From budgeting to mortgage approval to submitting a competitive offer, cash is king. And by focusing on one step at a time, you can alleviate some of the pressure and uncertainty.

 

 

“WHAT IF I GET STUCK WITH TWO MORTGAGES AT THE SAME TIME?”

 

This is one of the most common concerns that we hear from buyers who are selling a home while shopping for a new one, and it’s realistic to expect at least some overlap in mortgages. To make sure you don't get into a situation where you are carrying dual mortgages for longer than you can afford, examine your budget and calculate the maximum number of months you can afford to pay both.⁴

 

If you simply can’t afford to carry both mortgages at once, then selling before you buy may be your best option. (See Tip #3 above.) But if you have some flexibility in your budget, it is possible to manage both a home sale and purchase simultaneously. Here are some steps you can take to help streamline the process:

 

Tip #4: As you get ready to sell, simplify.

You can condense your sales timeline if you only focus on the home renovations and tasks that matter most for selling your home quickly. For example, clean and declutter all of your common areas, refresh your outdoor paint and curb appeal, and fix any outstanding maintenance issues as quickly as possible.

 

But don't drain unnecessary time and money into pricey renovations and major home projects that could quickly bog you down for an unpredictable amount of time. We can advise you on the repairs and upgrades that are worth your time and investment.

 

Tip #5: Prep your paperwork.

You'll also save valuable time by filing as much paperwork as possible early in the process. For example, if you know you'll need a mortgage to buy your next home, get pre-approved right away so that you can shorten the amount of time it takes to process your loan.

 

Similarly, set your home sale up for a fast and smooth transition by pulling together any relevant documentation about your current home, including appliance warranties, renovation permits, and repair records. That way, you're ready to provide quick answers to buyers' questions should they arise.

 

Tip #6: Ask us about other contingencies that can be included in your contracts.

Part of our job as agents is to negotiate on your behalf and help you win favorable terms. For example, it’s possible to add a contingency to your purchase offer that lets you cancel the contract if you haven't sold your previous home.

 

This tactic could backfire, though, if you're competing with other buyers. We can discuss the pros and cons of these types of tactics and what’s realistic given the current market dynamics.

 

 

“WHAT IF I MESS UP MY TIMING OR BURN OUT FROM ALL THE STRESS?”

 

When you're in the pressure cooker of a home sale or have been shopping for a home for a while in a competitive market, it's easy to get carried away by stress and emotions. To make sure you're in the right headspace for your homebuying and selling journey, take the time to slow down, breathe and delegate as much as possible. In addition:

 

Tip #7: Relax and accept that compromise is inevitable

Rather than worry about getting every detail right with your housing search and home sale, trust that things will work out eventually––even if it doesn't look like your Plan A or even your Plan B or Plan C. Perfecting every detail with your home decor or timing your home sale perfectly isn't necessary for a successful home sale and compromise will almost always be necessary. Luckily, if you've got a good team of professionals, you can relax knowing that others have your back and are monitoring the details behind the scenes.

 

Tip #8: Don't worry too much if your path is straying from convention

Remember that rules-of-thumb and home-buying trends are just that: they are estimates, not facts. So if your home search or sale isn't going exactly like your neighbor’s, it doesn't mean that you are doomed to fail.

 

It's possible, for example, that seasonality trends may affect sales in your neighborhood. So a delayed sale in the summer or fall could affect your journey––but not necessarily. According to the National Association of Realtors, the housing market tends to be more competitive during the summer and less competitive during the winter.⁵ But it's not a hard and fast rule, and every real estate transaction is different. That's why it's important to talk to a local agent about your specific situation.

 

Tip #9: Enlist help early.

Which leads us to our final tip: If possible, call us early in the process. We'll not only provide you with key guidance on what you should do ahead of time to prepare your current home for sale, we'll also help you narrow down your list of must-haves and wants for your next one. That way, you'll be prepared to act quickly and confidently when it’s time to list your house or make an offer on a new one.

 

It's our job to guide you and advocate on your behalf. So don't be afraid to lean on us throughout the process. We’re here to ease your burden and make your move as seamless and stress-free as possible.

 

 

BOTTOMLINE: COLLABORATE WITH A REAL ESTATE PROFESSIONAL TO GET TAILORED ADVICE THAT WORKS FOR YOU

 

Buying and selling a home at the same time is challenging. But it doesn't have to be a nightmare, and it can even be fun. The key is to educate yourself about the market and prepare yourself for multiple scenarios. One of the best and easiest ways to do so is to partner with a knowledgeable and trustworthy agent.

 

A good agent will not only help you evaluate your situation, we will also provide you with honest and individually tailored advice that addresses your unique needs and challenges. Depending on your circumstances, now may be a great time to sell your home and buy a new one. But a thorough assessment may instead show you that you're better off pausing your search for a while longer.

 

Contact us for a free consultation so that we can help you review your options and decide the best way forward.

 

 

Sources:

1.     Board of Governors of the Federal Reserve System, FEDS Notes - https://www.federalreserve.gov/econres/notes/feds-notes/housing-market-tightness-during-covid-19-increased-demand-or-reduced-supply-20210708.htm

2.     Federal Reserve Bank of St. Louis, FRED Economic Data - https://fred.stlouisfed.org/series/MSPUS

3.     Realtor.com - https://www.realtor.com/advice/sell/what-is-a-rent-back-agreement/

4.     Bankrate.com - https://www.bankrate.com/real-estate/sell-your-house-while-buying-another/

5.     National Association of REALTORS - https://www.nar.realtor/blogs/economists-outlook/seasonality-in-the-housing-market

Posted in Buying a Home
April 10, 2021

Williamsburg Plantation Real Estate Market Update for April 2021

Williamsburg Plantation Real Estate Market Update for April 2021

Introduction

We’ve seen Williamsburg Plantation Homes continue to sell homes quickly and for some of the highest prices we’ve ever seen in the neighborhood. It’s become apparent in our market that there are more buyers than seller currently and it’s caused homes to sell quickly and for top dollar. As we work with buyer’s looking in Onslow County we continue to see homes with multiple offers and seller’s getting to dictate the terms of how their house is sold.

 

     What’s Happening in the Williamsburg Plantation Real Estate Market?

 

      Average sales price in North Shore is $237,899 which is the highest we’ve ever seen it.

      Average days on market is 17.

      10 closed sales

      2 new listings

      2 active listings

      9 pending sales

      <1month of inventory, and this is

      Total sales volume of over $3mm for the first quarter.

 

Williamsburg Plantation 

What Does This Mean for Williamsburg Plantation Homeowners and Sellers?

If you’re considering putting your home on the market, right now is a really good time to do so as we’re seeing strong demand and multiple offers on almost every house that comes up on the market.

 

 Homes are metaphorically flying off the shelves here in Onslow County, so we’re seeing a lot of properties that are less prepared for sale than they would have been even just a year ago. But the data shows that simple repairs and cosmetic improvements before listing can net you thousands of dollars! Reach out to us for a free consultation and so we can connect you to our preferred vendors in your neighborhood.”

What Does This Mean for Williamsburg Plantation Home Buyers?

 

 “With only a few homes of inventory available here in Williamsburg Plantation, buyers have to be ready to act quickly when they find a home they’re interested in. Do you have your financials in order? Which home features are you are your absolute must-haves? We can help you prepare to win the home of your dreams in this tough market, so reach out for a free consultation!”

Conclusion

We expect the next few months to present a challenge to buyers looking for a home and it’s an opportunity for sellers who want to sell for top dollar.  If you want to get the process started there are a couple ways we can help you right now.

 

#1. Get a custom “Pin Point Price Analysis”

With our “Pin Point Price Analysis” we take a closer look at your house and prepare a very specific estimated selling price for your home. The price will be much more precise than the general range or what it might sell for.  Text “Pin Point” to 910-622-3578



#2. Get a “Room by Room Review”

With our “Room by Room Review” we make specific recommendations about which fixups or improvements you should (and should not) do to prepare your home for sale. We’ll point out the lowest cost, highest return improvements you can make to help sell your home quickly and for more money.  Text or call us at 910-622-3578 to set this up.



#3. Get access to our “Silent Market”

We specialize in the Sneads Ferry Area and we work with a lot of buyers currently looking for a home like yours. We can include your home in our Silent Market list of homes and we might be able to find a buyer for your house without even putting it on the market. Because of all the marketing our team does for the homes we do list, we constantly wind up with more buyers than homes to sell them.  Reach out to us at 910-622-3578 to go over the details.

Posted in Market Report
April 10, 2021

The Preserve at Tidewater Real Estate Market Update for April 2021

The Preserve at Tidewater Real Estate Market Update for April 2021

Introduction

We’ve seen Tidewater Homes continue to sell homes quickly and for some of the highest prices we’ve ever seen in the neighborhood. It’s become apparent in our market that there are more buyers than seller currently and it’s caused homes to sell quickly and for top dollar. As we work with buyer’s looking in Onslow County we continue to see homes with multiple offers and seller’s getting to dictate the terms of how their house is sold.

 

     What’s Happening in the Tidewater Real Estate Market?

 

      Average sales price in North Shore is $327,973 which is the highest we’ve ever seen it.

      Average days on market is 8.

      10 closed sales

      2 new listings

      2 active listings

      39 pending sales

      <1month of inventory, and this is

      Total sales volume of over $3mm for the first quarter.

 

Tidewater Market Report 

What Does This Mean for Tidewater Homeowners and Sellers?

If you’re considering putting your home on the market, right now is a really good time to do so as we’re seeing strong demand and multiple offers on almost every house that comes up on the market.

 

 Homes are metaphorically flying off the shelves here in Onslow County, so we’re seeing a lot of properties that are less prepared for sale than they would have been even just a year ago. But the data shows that simple repairs and cosmetic improvements before listing can net you thousands of dollars! Reach out to us for a free consultation and so we can connect you to our preferred vendors in your neighborhood.”

What Does This Mean for Tidewater Home Buyers?

 

 “With only a few homes of inventory available here in Tidewater, buyers have to be ready to act quickly when they find a home they’re interested in. Do you have your financials in order? Which home features are you are your absolute must-haves? We can help you prepare to win the home of your dreams in this tough market, so reach out for a free consultation!”

Conclusion

We expect the next few months to present a challenge to buyers looking for a home and it’s an opportunity for sellers who want to sell for top dollar.  If you want to get the process started there are a couple ways we can help you right now.

 

#1. Get a custom “Pin Point Price Analysis”

With our “Pin Point Price Analysis” we take a closer look at your house and prepare a very specific estimated selling price for your home. The price will be much more precise than the general range or what it might sell for.  Text “Pin Point” to 910-622-3578



#2. Get a “Room by Room Review”

With our “Room by Room Review” we make specific recommendations about which fixups or improvements you should (and should not) do to prepare your home for sale. We’ll point out the lowest cost, highest return improvements you can make to help sell your home quickly and for more money.  Text or call us at 910-622-3578 to set this up.



#3. Get access to our “Silent Market”

We specialize in the Sneads Ferry Area and we work with a lot of buyers currently looking for a home like yours. We can include your home in our Silent Market list of homes and we might be able to find a buyer for your house without even putting it on the market. Because of all the marketing our team does for the homes we do list, we constantly wind up with more buyers than homes to sell them.  Reach out to us at 910-622-3578 to go over the details.

Posted in Market Report
April 10, 2021

Pelican Reef Real Estate Market Update for April 2021

Pelican Reef Real Estate Market Update for April 2021

Introduction

We’ve seen Pelican Reef Homes continue to sell homes quickly and for some of the highest prices we’ve ever seen in the neighborhood. It’s become apparent in our market that there are more buyers than seller currently and it’s caused homes to sell quickly and for top dollar. As we work with buyer’s looking in Pender County we continue to see homes with multiple offers and seller’s getting to dictate the terms of how their house is sold.

 

     What’s Happening in the Pelican Reef Real Estate Market?

 

      Average sales price in North Shore is $333,333 which is the highest we’ve ever seen it.

      Average days on market is 14.

      3 closed sales

      0 new listings

      0 active listings

      2 pending sales

      0 months of inventory, and this is

      Total sales volume of over $1mm for the first quarter.

 

 Pelican Reef Market Report

What Does This Mean for Pelican Reef Homeowners and Sellers?

If you’re considering putting your home on the market, right now is a really good time to do so as we’re seeing strong demand and multiple offers on almost every house that comes up on the market.

 

 Homes are metaphorically flying off the shelves here in Peneer County, so we’re seeing a lot of properties that are less prepared for sale than they would have been even just a year ago. But the data shows that simple repairs and cosmetic improvements before listing can net you thousands of dollars! Reach out to us for a free consultation and so we can connect you to our preferred vendors in your neighborhood.”

What Does This Mean for Pelican Reef Home Buyers?

 

 “With only a few homes of inventory available here in Pelican Reef, buyers have to be ready to act quickly when they find a home they’re interested in. Do you have your financials in order? Which home features are you are your absolute must-haves? We can help you prepare to win the home of your dreams in this tough market, so reach out for a free consultation!”

Conclusion

We expect the next few months to present a challenge to buyers looking for a home and it’s an opportunity for sellers who want to sell for top dollar.  If you want to get the process started there are a couple ways we can help you right now.

 

#1. Get a custom “Pin Point Price Analysis”

With our “Pin Point Price Analysis” we take a closer look at your house and prepare a very specific estimated selling price for your home. The price will be much more precise than the general range or what it might sell for.  Text “Pin Point” to 910-622-3578



#2. Get a “Room by Room Review”

With our “Room by Room Review” we make specific recommendations about which fixups or improvements you should (and should not) do to prepare your home for sale. We’ll point out the lowest cost, highest return improvements you can make to help sell your home quickly and for more money.  Text or call us at 910-622-3578 to set this up.



#3. Get access to our “Silent Market”

We specialize in the Sneads Ferry Area and we work with a lot of buyers currently looking for a home like yours. We can include your home in our Silent Market list of homes and we might be able to find a buyer for your house without even putting it on the market. Because of all the marketing our team does for the homes we do list, we constantly wind up with more buyers than homes to sell them.  Reach out to us at 910-622-3578 to go over the details.

Posted in Market Report
April 10, 2021

Oyster Landing Real Estate Market Update for April 2021

Oyster Landing Real Estate Market Update for April 2021

Introduction

We’ve seen Oyster Landing Homes continue to sell homes quickly and for some of the highest prices we’ve ever seen in the neighborhood. It’s become apparent in our market that there are more buyers than seller currently and it’s caused homes to sell quickly and for top dollar. As we work with buyer’s looking in Onslow County we continue to see homes with multiple offers and seller’s getting to dictate the terms of how their house is sold.

 

     What’s Happening in the Oyster Landing Real Estate Market?

 

      Average sales price in North Shore is $150,480 which is the highest we’ve ever seen it.

      Average days on market is 6.

      5 closed sales

      3 new listings

      3 active listings

      48 pending sales

      2 months of inventory, and this is

      Total sales volume of over $1mm for the first quarter.

 

Oyster Landing Market Report 

What Does This Mean for Oyster Landing Homeowners and Sellers?

If you’re considering putting your home on the market, right now is a really good time to do so as we’re seeing strong demand and multiple offers on almost every house that comes up on the market.

 

 Homes are metaphorically flying off the shelves here in Oyster Landing County, so we’re seeing a lot of properties that are less prepared for sale than they would have been even just a year ago. But the data shows that simple repairs and cosmetic improvements before listing can net you thousands of dollars! Reach out to us for a free consultation and so we can connect you to our preferred vendors in your neighborhood.”

What Does This Mean for Oyster Landing Home Buyers?

 

 “With only a few homes of inventory available here in Oyster Landing, buyers have to be ready to act quickly when they find a home they’re interested in. Do you have your financials in order? Which home features are you are your absolute must-haves? We can help you prepare to win the home of your dreams in this tough market, so reach out for a free consultation!”

Conclusion

We expect the next few months to present a challenge to buyers looking for a home and it’s an opportunity for sellers who want to sell for top dollar.  If you want to get the process started there are a couple ways we can help you right now.

 

#1. Get a custom “Pin Point Price Analysis”

With our “Pin Point Price Analysis” we take a closer look at your house and prepare a very specific estimated selling price for your home. The price will be much more precise than the general range or what it might sell for.  Text “Pin Point” to 910-622-3578



#2. Get a “Room by Room Review”

With our “Room by Room Review” we make specific recommendations about which fixups or improvements you should (and should not) do to prepare your home for sale. We’ll point out the lowest cost, highest return improvements you can make to help sell your home quickly and for more money.  Text or call us at 910-622-3578 to set this up.



#3. Get access to our “Silent Market”

We specialize in the Sneads Ferry Area and we work with a lot of buyers currently looking for a home like yours. We can include your home in our Silent Market list of homes and we might be able to find a buyer for your house without even putting it on the market. Because of all the marketing our team does for the homes we do list, we constantly wind up with more buyers than homes to sell them.  Reach out to us at 910-622-3578 to go over the details.

Posted in Market Report
April 10, 2021

Olde Point Real Estate Market Update for April 2021

Olde Point Real Estate Market Update for April 2021

Introduction

We’ve seen Olde Point Homes continue to sell homes quickly and for some of the highest prices we’ve ever seen in the neighborhood. It’s become apparent in our market that there are more buyers than seller currently and it’s caused homes to sell quickly and for top dollar. As we work with buyer’s looking in Pender County we continue to see homes with multiple offers and seller’s getting to dictate the terms of how their house is sold.

 

     What’s Happening in the Olde Point Real Estate Market?

 

      Average sales price in North Shore is $397,817 which is the highest we’ve ever seen it.

      Average days on market is 117.

      6 closed sales

      3 new listings

      3 active listings

      9 pending sales

      1.5 months of inventory, and this is

      Total sales volume of over $2.5mm for the first quarter.

 

Olde Point Market Report 

What Does This Mean for Olde Point Homeowners and Sellers?

If you’re considering putting your home on the market, right now is a really good time to do so as we’re seeing strong demand and multiple offers on almost every house that comes up on the market.

 

 Homes are metaphorically flying off the shelves here in Pender County, so we’re seeing a lot of properties that are less prepared for sale than they would have been even just a year ago. But the data shows that simple repairs and cosmetic improvements before listing can net you thousands of dollars! Reach out to us for a free consultation and so we can connect you to our preferred vendors in your neighborhood.”

What Does This Mean for Olde Point Home Buyers?

 

 “With only a few homes of inventory available here in Olde Point, buyers have to be ready to act quickly when they find a home they’re interested in. Do you have your financials in order? Which home features are you are your absolute must-haves? We can help you prepare to win the home of your dreams in this tough market, so reach out for a free consultation!”

Conclusion

We expect the next few months to present a challenge to buyers looking for a home and it’s an opportunity for sellers who want to sell for top dollar.  If you want to get the process started there are a couple ways we can help you right now.

 

#1. Get a custom “Pin Point Price Analysis”

With our “Pin Point Price Analysis” we take a closer look at your house and prepare a very specific estimated selling price for your home. The price will be much more precise than the general range or what it might sell for.  Text “Pin Point” to 910-622-3578



#2. Get a “Room by Room Review”

With our “Room by Room Review” we make specific recommendations about which fixups or improvements you should (and should not) do to prepare your home for sale. We’ll point out the lowest cost, highest return improvements you can make to help sell your home quickly and for more money.  Text or call us at 910-622-3578 to set this up.



#3. Get access to our “Silent Market”

We specialize in the Sneads Ferry Area and we work with a lot of buyers currently looking for a home like yours. We can include your home in our Silent Market list of homes and we might be able to find a buyer for your house without even putting it on the market. Because of all the marketing our team does for the homes we do list, we constantly wind up with more buyers than homes to sell them.  Reach out to us at 910-622-3578 to go over the details.

Posted in Market Report
April 10, 2021

North Shore Real Estate Market Update for April 2021

North Shore Real Estate Market Update for April 2021

Introduction

We’ve seen North Shore Homes continue to sell homes quickly and for some of the highest prices we’ve ever seen in the neighborhood. It’s become apparent in our market that there are more buyers than seller currently and it’s caused homes to sell quickly and for top dollar. As we work with buyer’s looking in Onslow County we continue to see homes with multiple offers and seller’s getting to dictate the terms of how their house is sold.

 

     What’s Happening in the North Shore Real Estate Market?

 

      Average sales price in North Shore is $419,000 which is the highest we’ve ever seen it.

      Average days on market is 6.

      6 closed sales

      3 new listings

      3 active listings

      4 pending sales

      1.5 months of inventory, and this is

      Total sales volume of over $2.5mm for the first quarter.

 

North Shore Market Report 

What Does This Mean for Norht Shore Homeowners and Sellers?

If you’re considering putting your home on the market, right now is a really good time to do so as we’re seeing strong demand and multiple offers on almost every house that comes up on the market.

 

 Homes are metaphorically flying off the shelves here in Onslow County, so we’re seeing a lot of properties that are less prepared for sale than they would have been even just a year ago. But the data shows that simple repairs and cosmetic improvements before listing can net you thousands of dollars! Reach out to us for a free consultation and so we can connect you to our preferred vendors in your neighborhood.”

What Does This Mean for North Shore Home Buyers?

 

 “With only a few homes of inventory available here in North Shore, buyers have to be ready to act quickly when they find a home they’re interested in. Do you have your financials in order? Which home features are you are your absolute must-haves? We can help you prepare to win the home of your dreams in this tough market, so reach out for a free consultation!”

Conclusion

We expect the next few months to present a challenge to buyers looking for a home and it’s an opportunity for sellers who want to sell for top dollar.  If you want to get the process started there are a couple ways we can help you right now.

 

#1. Get a custom “Pin Point Price Analysis”

With our “Pin Point Price Analysis” we take a closer look at your house and prepare a very specific estimated selling price for your home. The price will be much more precise than the general range or what it might sell for.  Text “Pin Point” to 910-622-3578



#2. Get a “Room by Room Review”

With our “Room by Room Review” we make specific recommendations about which fixups or improvements you should (and should not) do to prepare your home for sale. We’ll point out the lowest cost, highest return improvements you can make to help sell your home quickly and for more money.  Text or call us at 910-622-3578 to set this up.



#3. Get access to our “Silent Market”

We specialize in the Sneads Ferry Area and we work with a lot of buyers currently looking for a home like yours. We can include your home in our Silent Market list of homes and we might be able to find a buyer for your house without even putting it on the market. Because of all the marketing our team does for the homes we do list, we constantly wind up with more buyers than homes to sell them.  Reach out to us at 910-622-3578 to go over the details.

Posted in Market Report
April 10, 2021

Northchase Real Estate Market Update for April 2021

Northchase Real Estate Market Update for April 2021

Introduction

We’ve seen Northchase Homes continue to sell homes quickly and for some of the highest prices we’ve ever seen in the neighborhood. It’s become apparent in our market that there are more buyers than seller currently and it’s caused homes to sell quickly and for top dollar. As we work with buyer’s looking in New Hanover County we continue to see homes with multiple offers and seller’s getting to dictate the terms of how their house is sold.

 

     What’s Happening in the Northchase Real Estate Market?

 

      Average sales price in Northchase is $241,674 which is the highest we’ve ever seen it.

      Average days on market is 25.

      17 closed sales

      3 new listings

      3 active listings

      9 pending sales

      <1 month of inventory, and this is

      Total sales volume of over $4mm for the first quarter.

 

Norhtchase Market Report 

What Does This Mean for Norhtchase Homeowners and Sellers?

If you’re considering putting your home on the market, right now is a really good time to do so as we’re seeing strong demand and multiple offers on almost every house that comes up on the market.

 

 Homes are metaphorically flying off the shelves here in New Hanover County, so we’re seeing a lot of properties that are less prepared for sale than they would have been even just a year ago. But the data shows that simple repairs and cosmetic improvements before listing can net you thousands of dollars! Reach out to us for a free consultation and so we can connect you to our preferred vendors in your neighborhood.”

What Does This Mean for Northchase Home Buyers?

 

 “With only a few homes of inventory available here in Northchase, buyers have to be ready to act quickly when they find a home they’re interested in. Do you have your financials in order? Which home features are you are your absolute must-haves? We can help you prepare to win the home of your dreams in this tough market, so reach out for a free consultation!”

Conclusion

We expect the next few months to present a challenge to buyers looking for a home and it’s an opportunity for sellers who want to sell for top dollar.  If you want to get the process started there are a couple ways we can help you right now.

 

#1. Get a custom “Pin Point Price Analysis”

With our “Pin Point Price Analysis” we take a closer look at your house and prepare a very specific estimated selling price for your home. The price will be much more precise than the general range or what it might sell for.  Text “Pin Point” to 910-622-3578



#2. Get a “Room by Room Review”

With our “Room by Room Review” we make specific recommendations about which fixups or improvements you should (and should not) do to prepare your home for sale. We’ll point out the lowest cost, highest return improvements you can make to help sell your home quickly and for more money.  Text or call us at 910-622-3578 to set this up.



#3. Get access to our “Silent Market”

We specialize in the Sneads Ferry Area and we work with a lot of buyers currently looking for a home like yours. We can include your home in our Silent Market list of homes and we might be able to find a buyer for your house without even putting it on the market. Because of all the marketing our team does for the homes we do list, we constantly wind up with more buyers than homes to sell them.  Reach out to us at 910-622-3578 to go over the details.

Posted in Market Report