List Now? . . . or Wait til Spring?

Many prospective home sellers have asked that same question: "Should I list my house NOW? . . . or wait until Spring?

The answer really lies with the seller's personal goals. For example: Do you have definite plans to move soon? Is there a specific date for your business transfer? If there's no urgency, then it really doesn't matter.

However, if you need to move quickly, then consider these factors:
1. Inventory - How many other sellers are waiting until the spring? If you list NOW, you will have less inventory to compete with in March, April or May!

2. Motivated Buyers - Many buyers will often wait until spring to start their search, also. The buyers who are house-hunting through the holidays are serious buyers!

3. Interest Rates - Rates for home mortgages are currently at a 4-year LOW, so smart buyers are searching now!

4. Accomplish your Goals Now - When all is said and done, wouldn't you rather have your house sold by March or April and move on with your personal plans? By listing now, you are positioning yourself to accomplish your goals sooner than later!

5. Reverse Fear - While I don't buy into the media's doom-and-gloom, there's always a risk that the housing market could deteriorate more, instead of improving by the middle of 2009. By listing now, you avoid that extra layer of uncertainty!

View ALL New Bern Listings here! Or, contact our team

Happy New Year!
Dianne and Team

5 Reasons for Buyers to get off the Fence!

We are witnessing some great opportunities in the New Bern real estate market, that have not been seen for years! If you are one of those buyers who are "sitting on the fence", it's time to cross over and accomplish your goal. Why now?

1. Mortgage Rates are near all-time LOWS! One lender just quoted 5% for a 30-year fixed rate loan. Yes, rates may trend lower, but there's no guarantee for how long.


2. Large Inventory to Choose from! Our New Bern market has nearly 3x the inventory that we had a few years ago, so there's a great selection, and buyers are in a better position now to negotiate their best terms. As soon as the inventory starts to decline, negotiations will be more favorable to sellers.


3. Inspections: This is the time when sellers are more willing to negotiate for repairs or offer financial concessions for inspection items. When the market turns, there will be many more sellers who will not be as liberal with concessions. Why? There will be less inventory, and more buyers who are interested in their property.


4. Time of Year: Many sellers believe that activity falls over the holidays and winter season, so now is the time for "serious buyers" to act, to get their best terms!


5. Tax Credit, $7,500 for First-Time Buyers! ( See our prior post on this tax credit). Buyers have until June 30, 2009 to close on a property and take advantage of this incentive. Yes, it is an interest free loan but how often does that ever happen ?

No one has a "Crystal ball" to time the exact bottom of the market (wish we did!). However, I know from over 30 years of real experience that when the market turns around, it's generally quick, and buyers only recognize it as they chase the market back up!

View ALL New Bern Listings here! Or, contact our team for more information on how we can help YOU achieve your goals!

Wishing you all a Happy Holiday season and a wonderful New Year!

Sincerely, Dianne and Team

Local New Bern News - Market Update

This column is customized each month so that I can share with you, the current monthly statistics. Please feel free to contact me if you have any questions! Or, visit my website at http://www.newbernhomes.com/

HOMES SOLD (Closed), November 1 through November 30. (From NB Board of Realtors MLS System)
Under $100K = 8
$100K-$159,999 = 22
$160K-$199,999 = 18
$200K-$249,999 = 8
$250K-$299,999 = 4
$300K-$399,999 = 3
$400K - $499,999 = 0
Over $500,000 = 1

Total November 2008 = 64
Total November 2007 = 121

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"

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Wishing you a very Merry Christmas and a Happy and Healthy New Year!

Sincerely, Dianne and Team