Hitchcock Realty News

Home and Land Sales. Things You Need To Know

Over the past month, a total of 1,439 single family homes were on the market for sale along the Crystal Coast (Carteret County). Of those homes, 116 of them were sold. These sold homes averaged 135 days on market. By the way, 135 days or roughly 4 months is a quick turnaround time for selling a home. So why did 19 percent of the available homes sell while 81 percent of the other properties sat? Assuming all marketing efforts were equal, then it boils down to...
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Interesting Turn In Real Estate Market Place

Fannie Mae’s report the , “Weekly Note” which was released this past Friday (11/18/16) shows an interesting, if not fickle housing market in the single family home sector. According to Fannie Mae, “Through the first ten months of the year, single-family starts are 10.0 percent higher than the same period a year ago”. “Single family starts” are new construction of single family dwellings and does not include existing properties. Fannie Mae is a government sponsored...
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Foreclosure Rates Dive. Home Equity And Prices Should Climb

Year over year foreclosure rates have fallen by almost 30 percent. This is the largest decline in foreclosures since 2015. With the clearing of the distressed sale properties, home values and home equity should begin to rise. In North Carolina the foreclosure market is now just 0.6 percent of the over-all home sales market. The number of NC foreclosed homes is down 26.4 percent compared to this time last year. There have been a total of 15,186 foreclosed...
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August Real Estate Market Report

One of the most frequent questions we get asked at Hitchcock Realty is what the real estate market is doing. In other words, is now a good time to sell. For many years it wasn’t. After the real estate “explosion” in the mid-2000’s came the painful aftermath of a glut of inventory which spilled over into the 2010’s. The Crystal Coast had a huge over-supply of inventory, prices did not re-adjust to reflect a flailing market place, bankruptcy and foreclosures became a normal everyday...
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Mortgage Rates and the Talking Heads

In 1980 the band the “Talking Heads” had a hit song called, “Once in a Lifetime”. One of the repeating lyrics of the song was, “Same as it ever was. Same as it ever was”. Who would have ever thought that 37 years later that the David Byrne lyric would be used to describe the mortgage rates! For the third straight week BankRate.com is reporting that the average rate for a 30 year fixed mortgage is at 3.56 percent. And the forecast for that 3.56...
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June Crystal Coast Real Estate Report

We’ve got to spread the good news! Mortgage rates have nose-dived and are at near historic low levels. The opportunity is now to get interest rates that may not be seen again. Residential property inventory in some of the prime locations along the Crystal Coast are at supply levels not seen in 10 years that make sales conducive for both the seller and buyer. Mortgage Rates In terms of buying a home and getting a 30 year fixed mortgage, now is almost a once in a lifetime...
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Home Prices Will Continue To Rise Through 2017

CoreLogic, which describes itself as, “the leading global property information, analytics and data-enabled solutions provider”, has released its most recent report on pricing and the housing market. Titled the, “U.S. Home Price Insights Report” this report gives accurate historical information mixed with data based forecasting to show where home prices have been and points toward where prices are headed to. In the over-all scheme of things, CoreLogic’s finding show that the US has seen 51 consecutive months of year over year increases in home prices. The...
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Crystal Coast Fishing Report For June 9, 2016

With the concerns of tropical storm Colin gone and a five day forecast of sunny skies and warm temperatures, this upcoming week of fishing promises to be productive for all that head on out! That coupled with the fact that beach water temperatures are now about the same as Gulf Stream waters, fishing catches should produce some large fish in close. But let’s start off on in close from the beach. Surf and pier fishing continues to be very active with catches of spots and sea...
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