Homer Ray

I ran the numbers this a.m. when I got to work and they confirmed what I already knew. Inventory levels are creeping back up in the area serviced by the Neuse River Region Association of REALTORS®.

In January it looked like we might be trending back down after high levels in the Fall of 2007 as we got into the 1300's. However as of April 1, 2008 we are back at 1560 houses for sale.

My advice to sellers at this point is:

#1 Be realistic in your expectations based on current market where the property is

#2 Do not sell unless you really need to

#3 Do not put your house on the market if "we really don't need to sell" fits your situation.

#4 Do not over-price your house. Buyers are more savvy than ever and 2005 is history.

If you want top dollar( relative to the current market) you must have your property in excellent condition at all times. You need to be prepared to wait as buyers are still "sitting on the fence."

As a great President once said, "the only thing we have to fear is fear itself."

Housing will rebound and the market will turn. If sellers panic and sell when they don't really need to, they will probably realize marginal returns compared to a sale in a "sellers market".

Now is the time to "BUY" not "Sell". Your great deals of tomorrow are on the market today.

What are you waiting for?

The annual fund raiser for Tryon Palace Historic Sites & Gardens will be held May 9th 2008 from 6:00 to 8:30 p.m. in New Bern, N.C.

The "Gathering in the Gardens" will be on the South Lawn Friday evening, open to the public and is casual.

Tickets for this event are $25.00 and can be purchased at Mitchell's Hardware on Craven Street, Frazier's Wine and Cheese on Middle Street, Cooks and Connoisseurs or Tryon Palace Visitor Center.

Great fun, food and music is a sure thing. This is a great way to find out about all the activities that go on at Tryon Palace. Nearly 100, 000 visitors go through the palace and grounds each year.

For further information contact Judy Bailie at 252-514-4936 or e-mail @jbilie@tryonpalace.org.

The Town of River Bend lies along the north shore of the Trent River. It is located about 5 miles south of New Bern, off U.S. Highway 17 South. River Bend is a surprising combination of detached single family homes, condos and town homes. You can live on the golf course or live by the water. River Bend has something for everyone

Centered in the heart of River Bend is the country club. It has a driving range, putting practice green and modern pro shop. There is also a outdoor swimming pool.

Other recreational facilities include Harbor Town Racquet Club with six tennis courts, four are lighted for night play.

A recent addition to River Bend is the modern River Bend Marina and Cafe. The food is great! A boat ramp, ship's store and boat slips are located there as well.

Another favorite for locals is Attitude's Bar and Grill. Here you can enjoy adult beverages, a burger and watch sports on t.v. Attitudes is also home to the Twin Rivers Shag Club, so dancing is allowed.

I have lived in River Bend since 1989, and can tell you it's a great place to call home. For more information about River Bend or New Bern, please contact me.

River Bend has one of the most balanced supply and demand ratios of any community I track. While other communities have an abundance of inventory, River Bend is currently has an eight month supply of houses for sale. A balanced market is considered to be a six month supply.

This community has it all, convenience, golf, water and great houses.

In the past six months 39 houses closed with an average sales price of $194,678.00 . The average list was $201,486.00. Average days on the market were 127.

As of March 6, 2008 there were 49 houses for sale with approx 30 in the $200k-300k range.

Seven houses closed in February 2008 with an average of 124 days on the market compared to 7 houses in February 2007 with 69 days on the market.

I live in River Bend, so if you want to learn more please give me a call.

Currently there is a thirteen(+) month supply of houses on the market in this area.

The average list price over the past 6 months was $271,112 and the average sale price was $265,112.

The average days on the market was 142 days.

The average number of houses sold in the past 6 months was 11.5 per month.

As of March 6, 2008 there were 158 houses for sale in this area. The biggest amount of inventory is in the $200k-$249,999k with 68 properties. The second largest pool of inventory is the $250,000k-$299,999K range with 29 properties. Under 200k the inventory is very tight at this time.

In February 2008 seven homes sold as compared with eighteen in February 2007. The average days on the market for properties sold in February 2008 was 185 compared to 128 for February 2007.

It's a buyers market for the time being. Now is the time to make your move.

Contact me for more information or to find out why "now is the time".