Here are many reports and articles about the subprime mortgage crisis. However, many consumers simply don't understand what it's all about. Why? The news media is too busy creating an atmosphere of crisis to slow down and do a simple explanation.
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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.
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:
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.
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 Wilson Area Real Estate Market. These statistics were gathered from data contained in the Wilson MLS system and predominately covers Wilson County in North Carolina.
Active residential listings totaled 783 properties. This is a decrease of 15 properties, or 1.9%, from 798 in November. This decrease is due mainly from a slowing of new listings and is typical during the fall and winter months.
Newly listed properties totaled 125. This is an increase of 16 new listings, or 13%, from 109 last month.
Sold properties totaled 78. This is an increase of 6, or 8%, from last months total of 72 residential properties sold.
Pending sales totaled 56. This is a decrease of 113, or 77%, from last month's total of 169 properties pending settlement.
The Wilson Area currently has a 9 month housing supply based on the previous 12 month absorption rate. This is down from a 10 month supply in November 2007.
Overall the local market is down by 11.7% when compared to the same period in 2006.
What does all this mean? The local housing market is still saturated with available housing. The slight decrease in 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.
The towns located in these counties are; Bailey, Battleboro, Castalia, Dortches, Middlesex, Nashville, Red Oak, Rocky Mount, Sharpsburg, Spring Hope, Tarboro, Whitakers & Wilson
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 NCRealEstateWebBlog.
I am an experienced real estate professional that provides expert services to people who are buying and/or selling residential properties. I work hard to exceed the expectations of my clients!
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