About Edgecombe County, NC

Should You Rent or Should You Buy?

Things being equal it's almost always better to own your home rather than to rent. After all, you build equity and get to write off your mortgage interest. And if you meet the guidelines, when you sell you'll be eligible for one of the best tax breaks around.

There are many issues that influence whether buying or renting is right for you. That said, home ownership has a significant tax advantage. When you sell married couples can earn up to $500,000 in gains on home sales tax-free, while singles get $250,000. The chart below demonstrates the amount of accumulated money renters are paying that could be building equity in their own homes.

Other Factors

Of course, buying a home isn't strictly a financial decision. For most folks, the thought of constantly worrying about losing their security deposit every time they pound a nail or paint a wall isn't particularly appealing. Here are some other things to consider before making your purchase:

This may sound simplistic, but first and foremost you should find a neighborhood and a home that you just plain like. "You're not going to wake up in the middle of the night and say 'Wow! Look at my tax deduction!'" .

Moreover, you should check on the sales price trends of homes in that neighborhood. If it looks like the area is declining in value, then avoid commitment: You may be better off renting.

Finally, don't forget that even with the tax-breaks of home ownership, you will still be incurring out-of-pocket costs that you wouldn't encounter as a renter - from the cost of ripping down wallpaper to repairing a leaky roof. So before you buy, estimate how much those costs will be. After all, you don't want to live hand-to-mouth - even if it is in your own home.

Why Are You Still Renting?

Call me at 252-442-2687 today to receive a FREE Buyers Analysis!!

About the Author
David C. Recker is a Top Producing Realtor licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWeblog.

Dave Recker Recognized as Contributing Author to Real Estate in 2008 Book of Top Ideas for the Challenging Market of 2008

Dave Recker, one of the premier Realtors in Rocky Mount, NC recently joined hundreds of top agents as a contributing author to Real Estate in 2008.

Rocky Mount, North Carolina - January 31, 2008 - Dave Recker, a top Realtor in Rocky Mount, NC joined with hundreds of top real estate agents around the country to write Real Estate in 2008 in less than a month.

Real Estate in 2008 (http://www.realestatein2008.org/) helps buyers, sellers, and agents succeed in a challenging 2008 market by providing hundreds of ideas from top agents. Chapters include ideas on how to find motivated buyers, how to convince buyers to buy, how to get sellers to price/position their homes and creative ideas from around the country. These are ideas from top real estate agents who collaborated in an industry-wide effort which was launched during the National Association of Realtor's (NAR) conference in November 2007.

Dave provides a number of ideas as to why buyers should buy in 2008 and how sellers can prepare, price and position their homes to be sure they get sold in 2008. "It takes more than a sign in your yard, and an ad in the paper to get a good offer," said Dave.

Click Here to read the entire Press Release

There are many things that determine if and when a house sells. However, three things stand head and shoulders above the rest. They are price, condition, and marketing. Lets take a look at these:

Price - Your home must have a reasonable and justifiable price. A good buyer's agent will look at comparables to determine if your house is priced correctly. Therefore, it must be priced within the range that comparable homes have SOLD for (reasonable) and the condition and/or unique features must justify your specific price.

Price is controlled by the market.

Condition - The condition of the property must support the price. The higher you are within the selling price range the better condition your house should be in.

Condition is controlled by the seller(s).

Marketing - It takes more than a yard sign and an add in the Sunday paper to sell a listing quickly and at top dollar. You need to cast the widest possible net to gain the widest possible exposure.

Marketing is controlled by the Realtor©.

Therefore, it is not surprising that analysis shows that fast sellers in a slow market have three common denominators:

• They're priced better than comparable listings.
• They show like model homes.
• They have a full force of marketing, including enticing Internet photos, behind them.

About the Author
David C. Recker is a Top Producing Realtor licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWeblog.

In 2007 many things became apparent to me as I continue to work as a Realtor in the local Rocky Mount, North Carolina, area. Many consumers are listening to the National news media about the real estate market and assuming that it is an accurate reflection of what is happening here locally. Nothing could be further from the truth. All real estate is local.

This report focuses on what is happening locally and will hopefully serve to clarify events and reasons for local facts and trends.

Click Here to read this report in it's entirety.

The following report is provided as a public service by David C. Recker, Realtor, RE/MAX Point East, Rocky Mount, North Carolina. The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina.

Active residential listings totaled 999 properties. This is a decrease of 59 properties, or 6%, from 1058 in November. Inventories typically fall during the winter months because the number of new listings also slows.

Newly listed properties totaled 100. This is a decrease of 25 new listings, or 20%, from 125 last month.

Sold properties totaled 70. This is an increase of 5, or 7%, from last months total of 65 residential properties sold.

Pending sales totaled 82. This is a decrease of 32, or 28%, from last month's total of 114 properties pending settlement.

The Greater Rocky Mount Area currently has a 9.5 month housing supply based on the previous 12 month absorption rate. This is a slight decrease from the 9.8 month supply in November 2007.

Overall the local real estate market is down by 11% in 2007 when compared to the same period in 2006.

What does all this mean? December was a slow month for sales in the Rocky Mount area. Is this decrease in sales a result of the tightening credit standards? Perhaps, but we will need to watch the numbers over the next few months to see if this is a trend or just a slower than normal Winter market.

The local housing market is still saturated with available housing. The reduced inventory numbers for this month are typical for this time of year. These indicators show that we are still in a strong "Buyers" market and will be for the foreseeable future. What is a Buyers market? This is when conditions exist that allows buyers to obtain concessions from sellers that they would not receive in a balanced market.

What is considered a "Balanced" or "Normal" market? Typically this is when houses sell between 3 - 4 months.

If you are looking to buy, this market is for you. In this market buyers typically get more for their money and receive seller concessions regularly.

If you are a seller this is not a bad time to sell. You just need to have a realistic expectation of your homes value and need to work with a Realtor that will provide maximum exposure for your property.

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWeblog.