State of the Real Estate Market
Dr. Lawrence Yun
Today, the Fayetteville Association of Realtors had a robust turnout for Dr. Lawrence Yun (Chief Economist for the National Association of Realtors) presented the State of the Real Estate Market. Dr. Yun's presented some very informational and insightful analysis on the current state nationally.
One profound statement he made was that we didn't have a "Housing Bubble", we truly had a "Credit Market Bubble". He indicated that depending on how fast businesses reinvest the profits back into creating new jobs. Our recovery nationally could be 2 - 3 years or as long as 5 - 6 years.
The great news for the for the local Real Estate market, is that our 9 county region has not been impacted like the national outlook. The Fayetteville market averages 6100 homes sales per year, which keeps our Market Equilibrium in balance. The numbers were very interesting for a 10 year period in our market:
Fayetteville Market Existing Home Sales
Average Homes Sold Per Year - 6100
Average Market Value of Homes- $850,000,000
Average Sales Price - $162,000
Average Appreciation per year - 5.5%
The existing residential market has doubled in the last 10 years, with an average appreciation rate of 3.9%.
Fayetteville Market New Home Sales
The new home market has doubled in the last 10 years. The average sales price over the past 10 years has grown from $127,251 in 2001 to $204,353 in 2010.The conclusion was that Fayetteville is ranked #2 as one of the most affordable place to purchase a home. Fayetteville's military influence has kept the Real Estate market immune from many of the issues the rest of the country is facing. Fayetteville is the right place and it's the best time to purchase.
In the Fayetteville Area are there any 100% Loan Programs?
In the Fayetteville Area are there any 100% loan programs, is a question that comes up often from customers. The Fayetteville Real Estate market we are heavily influenced by the VA market. Our veterans realize the benefit of the 100% financing provided by their VA entitlement, I know I took full advantage of mine. We often get questions from those who are not affiliated with the military, "Are there 100% program for non-military?" The answer is a resounding "Yes".
We have several areas that are in close proximity of Fayetteville and Fort Bragg that fall in to the 100% financing zone. The loan program is the USDA Rural Development loan, which most lenders in the Fayetteville, NC area are aware of. The program provides 100% financing to certain areas that are considered rural. In the Fayetteville, Fort Bragg home market we have several large areas that fall into USDA zone. Inside of cumberland county, all homes within Hope Mills, NC qualify for USDA. The homes located in the Hoke area also fall in the USDA zone, along with large parts of Harnett County.
If your wondering which homes in Fayetteville, NC area fall within the 100% USDA financing area, please contact me directly and I can run a specific search for you. We still have 2 options for 100% financing: VA Loan & USDA Loan.
PWC Boil Water Advisory - In Effect for Fayetteville Until Sunday at 6PM
PWC (Public Works Commission) has a boil water advisory for the Fayetteville area until 6PM on Sunday January 16th. The impact of the water main break has effective businesses in the are in a major way. All businesses in the city of Fayetteville are not using water, only bottle water and bottled drinks are being sold. Once all services are returned to residents and businesses in the area, I'm sure a full investigation will be done. We need a full report of the cause of the break, but more importantly a work around solution. PWC needs to have several layers of redundancy built in to avoid, such a major impact to a city close to 300,000 in size.
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Our Service Areas are the Fort Bragg, Fayetteville NC, Fort Bragg NC, Hope Mills NC, Raeford NC, Spring Lake, NC, Cumberland County, Harnett County, Hoke County. "Veteran Owned & Operated"
The Anderson Realty Group has built a reputation of providing outstanding service, through the principles of trust, honesty, respect, integrity and commitment. Our team has a strong foundation in sales, marketing and management that allows a vast understanding of the Real Estate market and how it directly relates to our clients. Allowing the Anderson Realty Group to assist and aide clients through every aspect of the Selling, Buying, or Relocating process in the Fayetteville & Fort Bragg region.
Why Sellers Choose the Anderson Realty Group
Selling your home is one of the most important decisions you will make in your life. How much is it REALLY worth? How long will it take to sell? How do you handle buyers making undesirable offers?
The Anderson Realty Group has a proven track record in the Fayetteville, Hope Mills and Fort Bragg area REALTOR® with years of experience, it is our job to guide you through this complicated process, from beginning to end. We want you to get the maximum value for your home, within YOUR time frame. Here are just some of the things the Anderson Realty Group will do to market and sell your home:
- Buyers want to buy your home for as little as possible! Through detailed comparisons between your home and recently sold homes, and other properties currently on the Fayetteville, Hope Mills and Fort Bragg market, together we can determine what your home is really worth in today's market. In the industry this is called a Comparative Market Analysis or CMA. The Anderson Realty Group will do this for you, for free.
- Buyers have their own timelines, which might not be yours! We make sure they don't waste your time by qualifying them as to their real ability to afford your home.
- More buyers interested in your Fayetteville, Hope Mills and Fort Bragg home means more money in your pocket when it is sold. Our extensive marketing of your home assures you of maximum value. For example, this web site will market your property all across the web. It will appear on Yahoo Real Estate, Microsoft MSN HomeAdvisor, and other top national sites. We can place your home on my web site within a few minutes time!
- When we begin marketing your home, we will immediately notify all the buyers that I am helping find their ideal home. We will also notify all the REALTORS® in this area that I work with, who quickly tell their homebuyers. It is a powerful way to jump-start the sale of your home!
- We will walk through your home together. We will advise you how to present your property to maximize its selling price. Some improvements are worth it, and some are not! Be careful.
- Contracts are complicated, and intimidating. You don't want to go to a closing with some doubts. You will have the full benefit of my Fayetteville, Hope Mills and Fort Bragg real estate experience and knowledge for a smooth and successful closing. I recommend that you do not sign on any dotted lines without asking me first.
- We will make sure you conform to any and all North Carolina statutory disclosure requirements. We will also inform you of any inspections that you should consider having done ahead of time to smooth the negotiating process with buyers, and to ensure a successful escrow and closing.
You pay no up front costs for my services! So you can bet that we will work hard to get your home sold, for as much as this market will possibly bear. We will also work within your time frame and your needs. For example, sometimes it can be hard to sell and move out of your current home, and buy and move into a new home, all at the same time! I can help smooth this out.
Call or visit our site. Ask for a free In-Home Presentation. We will come to your Fayetteville, Hope Mills and Fort Bragg home or office, and present you a plan that details exactly how we will market your home. There is absolutely no obligation so don't let this opportunity pass. It is part of our job as a top real estate agents to offer you this service.
Why Buyers Choose the Anderson Realty Group
Buying a Home Requires Many Difficult Decisions. Make Sure Your REALTOR® is a Top Local Expert.
Your home is probably the biggest purchase your family will ever make, and it involves many decisions that go beyond simply choosing one you like.
As a top Fayetteville, Hope Mills and Fort Bragg area REALTOR®, here is how we will guide you through the entire process, from viewing homes and financing, to making sure the final contract is in your best interest:
- You will have full access to ALL homes available on the Fayetteville, Hope Mills and Fort Bragg market, even listings not yet on the MLS, through my professional North Carolina real estate affiliations.
- Our expert local knowledge of the Fayetteville, Hope Mills and Fort Bragg area should be invaluable to you, not just in terms of real estate, but also schools, neighborhoods, the local economy, and more.
- Every local real estate market absolutely has its own trends and opportunities. This can vary greatly, even one neighborhood to the next. Fayetteville, Hope Mills and Fort Bragg is no different! It's my job to guide you into opportunities and out of traps.
- What is the true market value of the home you are interested in? Is it priced too high? Is it a bargain that you should jump on? We help home buyers make decisions like this every day, and I'll make sure that YOU get the best value for your money.
- Negotiating with sellers can be stressful. We will help you negotiate, so that the final contract includes your best possible terms and conditions.
- You should know absolutely everything about the property you are buying! You and I will view every home that you are interested in, together. And prior to closing I will make you fully aware of any and all inspections available to you.
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