Tag Archives: broker

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...
Read more

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...
Read more

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...
Read more

Mortgage Applications Soar. Rates Inch Up Slightly

If mortgage applications are the indicator of the over-all health of the real estate market place then last week proved to be a huge shot in the arm. Not only are week over week applications up, but year over year comparisons showed a drastic improvement. And it wasn’t driven by those seeking to refinance their homes. The mortgage application surge came from homebuyers! Diana Olick with CNBC reports, “Mortgage applications to purchase a home drove total volume, rising 5 percent for the week, seasonally adjusted,...
Read more

Bad Economic Outlook Means Great Real Estate Prospects

Fannie Mae, who is a “leading source of financing for mortgage lenders”, has just released poor economic outlook that actually holds some very wonderful news for those trying to sell or buy a house! In their recent report titled, “Economic Growth Outlook Subpar Again as 2016 Progresses. Consumers and Businesses More Cautious Amid Slowdown in Labor Market” Fannie Mae states that their, “full-year economic growth forecast” has been lowered to “1.7 percent, down from 1.9 percent growth in...
Read more

Are Mortgage Rates At Lowest Level Ever?

Money.CNN is reporting on some very big mortgage rate news. In a video report titled, “Will You Ever See Mortgage Rates This Low Again” the host in this brief news segment talks about 3.59 percent rates for a 30 year mortgage and 2.88 percent for 15 year loans. The subtitle beneath the video reports says, “If you're looking to buy a home this spring, you're [sic] timing couldn't be better. Mortgage rates are hitting their lowest levels in years.” The news reports ends with this important thought....
Read more

Foreclosed Properties On The Decline

Foreclosures. A lot of people are looking for that special deal and focus on foreclosed homes as a way to make that dream and goal come true. Often times it is the investor aiming to flip the house to turn a quick profit that searches for these foreclosed or distressed properties. While searching for and buying foreclosed homes can be advantageous (Also dangerous, but that’s a topic for another article), the inventory to pick from is becoming smaller and smaller. CoreLogic just released its most...
Read more

FEMA Drafting New Flood Zone Maps

The Federal Emergency Management Agency (FEMA) is currently drafting new flood zone maps. The proposed changes will greatly affect many residence of Carteret County and the Crystal Coast. The last time flood zone maps were updated was back in 2003 using information dating back to the 1980’s. The greatest area of proposed change will impact those properties in the V flood zones along our coast line. V flood zones require a more stringent set of building codes and...
Read more