The
Week in Review
.....your Wilmington
Connection
July 11, 2010
A very toasty week in Wilmington, great weather if you are
sitting on the beach! Thinking of moving to the Wilmington Area? You
should everyone else does when the visit! drop me an email and lets get you
set up. Congratulations Spain on the World Cup Win!
Wilmington Real Estate
This week in Wilmington there are 2470 homes on the
market. 238 homes are currenlty under contract and 131 of those are priced at
$250,000 and under. In the last 3 months there were 636 closings and 409 of
those were below $250,00 and 29 of those homes were priced above
$700,000.
Can the Housing Market Stand on its Own?
Through May of this year 495,000 net private sector jobs have
been created; NAR’s forecast for employment growth is about 1 million
additional net new jobs over the balance of the year and another 2 million in
2011.
If jobs come back as expected, the pace of home sales should
pick up later this year and reach a sustainable level of activity given very
favorable affordability conditions,reported by Yun.
“In most areas of the country there will be no sharp snap back
in home prices in the upcoming years, although some local markets have
experienced double-digit gains this year".
Coldwell Banker wins Communication award
The International Academy of the Visual Arts has named Coldwell
Banker On Locationthe brand’s YouTube channel, a recipient of this year’s
Communicator Awards for Creative Excellence in the real estate website
category.
....until next week in
The Week in Review
Tina
TheWeek in Review
......your WilmingtonConnection
May 2, 2010
Beautiful weather here in Wilmington, I hope you all got achance to relax and enjoy the day! I know I did. After working sodiligently to get the first time home buyers under contract with the deadlineon Friday. For those of you who took advantage I congratulate you.
Wilmington NC Real Estate
Currentlythere are 2454 single family homes on the market. There was a bit of surge thisweek with under contracts due to the tax credit deadline, we ended with 393homes under contract and 252 of those homes were priced $250,000 and under and5 of those being above a million dollars. In the last 3 months there have been500 solds. A definate increase.
Tax Credits have been Effective
The Treasury Department estimates that the credits helped 1.8million people buy homes, but critics reply that two-thirds of the $12.6billion in credits spent through the end of February went to people who wouldhave purchased a home anyway.
March home sale prices
(March 2009 in parentheses)
Average price of homes closed: $221,616 ($216,185)
Median price of homes closed: $171,518 ($175,000)
– Wilm. Regional Realtors
Mortgage rates
Average, April 29 (Week earlier in parentheses)
30-year fixed: 5.06% (5.07%)+
15-year fixed: 4.39% (4.39%)+
5-year ARM: 4% (4.03%)*
1-year ARM: 4.25% (4.22%)-
+ Plus 0.7 point
* Plus 0.6 point
- Plus 0.5 point
<
