Only 92 Days Left!

That's right ... the last date for a purchase/close on a property is November 30, 2009, for the Federal Housing Tax Credit up to $8,000!

You, or a member of your family may be eligible. Here's a helpful link with guidelines to find answers about the government program:

Federal Housing Tax Credit


Feel free to give us a call if you would like more information: Toll Free 888-781-8800.

Dianne Dunn and Team New Bern
Keller Williams Realty
New Bern, NC

Email Dianne!
Visit our Website:

Search All Properties in the New Bern area.

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 www.NewBernHomes.com.

HOMES SOLD (Closed), July 1 through July 31 (from NRRAR MLS Service)
Under $100K = 06
$100K-$159,999 = 33
$160K-$199,999 = 26
$200K-$249,999 = 18
$250K-$299,999 = 04
$300K-$399,999 = 06
$400K-$499,999 = 03
Over $500,000 = 01

Total July 2009 = 97
Total July 2008 = 144
Total July 2007 = 183

NEIGHBORHOOD PROPERTIES "SOLD", July 1 through July 31 (from NRRAR MLS Service)

NEIGHBORHOOD PROPERTIES "FOR SALE" (from NRRAR MLS Service)

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

www.NewBernHomes.com
Search ALL Properties in New Bern!

Catching up with a Laugh! ;-)

After taking a few days off and spending time with visiting family, I've been catching up on reading the latest real estate news and information from several sources which I subscribe to on a daily and weekly basis.

One of the articles that caught my eye is from the ActiveRain site, where real estate agents, lenders, instructors and coaches post their thoughts and suggestions. The following is titled: Top 10 Seller Sins, by Clint Miller from Missoula, MT.

While some of us have taken certification courses on "Home Staging" to help sellers understand how to show their property in the best condition for prospective buyers, Clint actually describes his thoughts "as a buyer" as he and his wife preview different properties.

Some of his descriptions are hilarious ... and also true, so enjoy! ;-)

Dianne

Dianne Dunn and Team New Bern
Keller Williams Realty
New Bern, NC

Email Dianne!
Visit our Website:

Search All Properties in the New Bern area.

Only 143 Days Left!

143 days is the "Countdown" to close on a home, and be eligible to receive the 1st-time buyer tax credit!

First-time buyers are those who have not owned a home within the last three years, and who are in a specific income bracket.

Are YOU eligible? ... Why not find out! Here are the Basic comparisons from last year's program to the current 2009 program, and here's a link to the IRS.gov website for a more detailed explanation.

Here's the link to the Federal Government site which describes Refinancing and Making Homes affordable:
http://makinghomeaffordable.gov/

My team and I will be glad to help you, so please feel free to contact us with any questions!

Dianne Dunn and Team New Bern
Keller Williams Realty
New Bern, NC

Email Dianne!
Visit our Website:

Search All Properties in the New Bern area.

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 www.NewBernHomes.com.

HOMES SOLD (Closed), June 1 through June 30 (from NRRAR MLS Service)
Under $100K = 22
$100K-$159,999 = 37
$160K-$199,999 = 25
$200K-$249,999 = 18
$250K-$299,999 = 06
$300K-$399,999 = 06
$400K-$499,999 = 05
Over $500,000 = 03

Total June 2009 = 122
Total June 2008 = 162
Total June 2007 = 223

NEIGHBORHOOD PROPERTIES "SOLD" LAST MONTH

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

More Help for 1st-Time Home Buyers!

Are YOU a first-time buyer? ... Do you have children, grandchildren or friends who are first-time buyers? If so, this is an excellent opportunity for them with the new Tax Credit and the very recent changes in FHA loan guidelines. (Approximately 25% of all new loans are FHA).

HUD Secretary Shaun Donovan announced on May 29, 2009, a program that will allow first-time buyers who use FHA financing to apply the $8,000 federal first-time buyer tax credit towards loan closing costs.

Per the IRS.gov website, you may qualify to receive this credit if you meet the following qualifications:

"... qualifying taxpayers who buy a home before Dec. 1, 2009, can claim the credit on either their 2008 or 2009 tax returns. They do not have to repay the credit, provided the home remains their main home for 36 months after the purchase date. They can claim 10 percent of the purchase price up to $8,000, or $4,000 for married individuals filing separately.

The amount of the credit begins to phase out for taxpayers whose adjusted gross income is more than $75,000, or $150,000 for joint filers.

For purposes of the credit, you are considered to be a first-time homebuyer if you, and your spouse if you are married, did not own any other main home during the three-year period ending on the date of purchase."

The credit itself:
 Applies to purchases that close after April 8, 2008, and before Dec. 1, 2009.
 Applies only to homes used as a taxpayer's principal residence.
 Reduces a taxpayer's tax bill or increases his or her refund, dollar for dollar.
 Is fully refundable, meaning the credit will be paid out to eligible taxpayers, even if they owe no tax, or the credit is more than the tax owed.

This is a great time to buy, so pass the word!

Dianne Dunn
Email: DDunn@NewBernHomes.com

www.NewBernHomes.com
Search all property listings in the New Bern area: www.SearchNewBernHomes.com

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 www.NewBernHomes.com.

HOMES SOLD (Closed), May 1 through May 31 (from NRRAR MLS Service)
Under $100K = 15
$100K-$159,999 = 36
$160K-$199,999 = 22
$200K-$249,999 = 11
$250K-$299,999 = 06
$300K-$399,999 = 04
$400K - $499,999 = 01
Over $500,000 = 01

Total May 2009 = 96
Total May 2008 = 151
Total May 2007 = 196

NEIGHBORHOOD PROPERTIES "SOLD" LAST MONTH

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

Are Homes Selling in New Bern?...Yes!

When people approach me with a "doom and gloom" face about the condition of our real estate market, I share my honest opinion: All real estate is LOCAL! You don't watch the weather in Oshkosh, Wisconsin, to decide what to wear tomorrow in New Bern, NC, so why watch the national news to make your local real estate decisions.

While some states like CA, AZ, NV, FL and parts of the northeast have seen appreciation and depreciation rates as high as 40%, North Carolina and some of our LOCAL markets had not experienced the "bubble and burst" as dramatically. However, one of the key factors that DOES affect our local market here in Eastern NC, is that many prospective buyers coming here need to sell their existing homes in some of these other states. Fortunately for us, some of these other markets are starting to turn around because people are getting realistic about the market.

The statistics show that while our LOCAL market peaked between the end of 2006 and early 2007, most people did not recognize the actual effect of the downturn here until the latter part of 2008 and early 2009.

Are homes still selling in the New Bern area? . . . YES! While the majority of activity is in the lower price range ($200K and under), there are homes selling in ALL neighborhoods if sellers consider these factors:

1) Price it RIGHT, and consider "Supply and Demand": If there's only 6 properties for sale and it's a high-demand neighborhood, then sellers will probably get a better price. If there are 50+ for sale, then your price needs to be extremely attractive to even get showings.

2) Condition is CRITICAL: With more competition than ever experienced in our area, sellers need to "stage" the property so it stands out above ALL the competition.
This is not a market to "test" or dabble in: If you REALLY want or need to sell, then give it your best with #'s 1 and 2 above. If you don't need or really want to sell, then don't frustrate yourself . . . wait for a better market!

Dianne Dunn

http://www.newbernhomes.com/

Email: DDunn@NewBernHomes.com

Assistance for Military Homeowners

I just learned today from a very astute Realtor friend in Hawaii (John Riggins), that the original HAP program (Homeowner's Assistance Program) under the US Army Corps of Engineers and Base Closure Act, has been extended under the American Recovery and Reinvestment Act of 2009. Click on this link to see if you are eligible: http://hap.usace.army.mil/

This may help military and federal employees who are upside down with their homes (owe more than current market value).

Dianne Dunn
www.NewBernHomes.com
www.SearchNewBernMLS.com
Toll Free: 888-781-8800
Email: DDunn@NewBernHomes.com

New Mortgage?...Refinancing?... 8 Tips to AVOID!

With a large inventory to select from, many buyers are taking advantage of the current mortgage rates, which are near all-time lows, so that's good news for New Bern real estate market!

Also, with mortgage rates near all-time lows, many homeowners are taking advantage of these great rates by refinancing their current mortgages.

You should be aware that it's taking longer to get to closing. Why? . . . because many lenders are currently ill-equipped for the rush of new business, and the process of underwriting and approving new loans is taking some conforming lenders as long as 2 months to complete. This is nearly double the time needs as recently as six month ago.

Because there may be 60 days between the application date and the closing date, it’s important for applicants to remember that mortgage approvals can be revoked at any time prior to funding. As mortgage applicants, there are many events that are out of our control — job security and health matters, for example. But there are also events that are within our control.

Knowing that mortgage approvals can be fragile, here are 8 things you should absolutely not do while your home loan is in process. It may be the difference between being approved by the bank, and being turned down.

1. Don't buy a new car or trade-up to a bigger lease.
2. Don't quit your job to change industries.
3. Don't switch from a salaried job to a heavily-commissioned job.
4. Don't transfer large sums of money between bank accounts.
5. Don't forget to pay your bills - even the ones in dispute.
6. Don't open new credit cards - even if you're getting 20% off.
7. Don't accept a cash gift without filing the proper "gift" paperwork.
8. Don't make random undocumented deposits into your bank accounts.

Now, avoiding these items may not be practical for everyone. For example, if your car lease is expiring and you need a larger vehicle, it doesn’t mean you can’t buy the car — just check with your loan officer first to be sure the new payments won’t “break” your approval.

The same goes for accepting cash gifts from parents. There’s a right way and a wrong way to accept gifts, and doing it the wrong way may prevent you from using the gift as a source of downpayment.

Mortgage lending is full of “gotchas”, and with underwriting times stretching to 60 days, it’s a lot more likely that a mortgage applicant will trip into one of these. However, following these 8 rules is a good start!

My suggestion for New Bern Sellers refinancing their current homes, or New Bern Buyers who are buying a home: Contact a good lender and make sure everything is in order, so you can get to a smooth closing.

If you have any questions or need any help in the process, please feel free to call me at 252-636-3301 or Toll Free 888-781-8800, or email DDunn@NewBernHomes.com

Dianne Dunn
www.NewBernHomes.com
www.SearchNewBernMLS.com

Team New Bern Going Green?

Wow, . . . what an incredible class I attended yesterday! "Going Green" was sponsored by the Carteret County Association of REALTORS - an accredited CRS course (Council of Residential Specialists) and conducted by Senior CRS Instructor, MarkGiven.

The all-day session focused on energy-saving tips for existing homes and buildings, as well as new "green" materials for new-home construction, . . . how to save money, while helping the environment! The information shared covered areas as simple as energy-saving light bulbs and cost-efficient tankless water heaters, to innovative new ideas and systems on Wind power, Wave and Tidal Power and construction of a "green roof". I found it fascinating to learn about all the ways to improve conservation costs on my own home, which was constructed several years ago.

The following are just some of the websites that offer tons of information:
http://www.energystar.com/
http://www.energystar.gov/
http://www.greenhomeguide.org/
http://www.greenhome.com/
http://www.nuclearmoose.com/
http://www.usgbc.org/
http://www.desireusa.org/
http://www.treehugger.com/
http://www.epa.gov/
http://www.furnature.com/
http://www.earth911.com/

Mark's final quote "The Aim of Education is Not Knowledge, . . . but ACTION!" encouraged me to post this blog, and add a page on my current website about ways to GO Green to save energy, save money and help the environment - coming soon!

Dianne Dunn
www.NewBernHomes.com
www.SearchNewBernMLS.com

Recessionary Times? - How should we deal with it?

I just read an article which was passed along to me from a friend, Kathy Drewien, in Atlanta, GA.
The article was written by Tom Peters, a management consultant and speaker. The following are just some of the highlights that really inspired me on how to deal with this current economy and recessionary times:

• You work longer, harder, and you may work for less, . . . but adapt to these circumstances with a smile!
• Bring an upbeat attitude to work and to your life, even if you have to fake it.
• Surround yourself with positive people and good things happen . . . just like the "Law of Attraction".
• Forget about the "Good old days" . . . especially in the real estate business . . . nostalgia is for wimps.
• Shrug off your losses, and get back on your horse and try Again!
• Shoot for standards of excellence, develop a thirst for education to upgrade your career, and evaluate your own performance.
• Offer thanks and gratitude to others when good things happen, . . . and take the heat yourself when bad things happen.
• Volunteer more, help others with issues, and give new meaning to the word "thoughtful".
• Be kind to mankind.

Lots to think about this weekend ;-)

Dianne

http://www.newbernhomes.com/

Tax Credit Comparison - 2009 Stimulus Pkg

Hi Folks,

I just returned from a wonderful 6-day vacation . . . (we ALL need a recharge - especially in this challanging market! ;-)

Here's a great and simple comparison chart on the 2009 Tax Credit, which is part of the government Stimulus Package. Just click on the hotlink.

Please feel free to contact me if you have any questions or need help, and hope you all enjoy your week!

Dianne Dunn
www.NewBernHomes.com
www.SearchNewBernMLS.com

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 www.NewBernHomes.com

HOMES SOLD (Closed), February 1 through February 28. (From NB Board of Realtors MLS System)

Under $100K = 6
$100K-$159,999 = 31
$160K-$199,999 = 19
$200K-$249,999 = 13
$250K-$299,999 = 3
$300K-$399,999 = 6
$400K - $499,999 = 3
Over $500,000 = 3

Total February 2009 = 84
Total February 2008 = 125
Total February 2007 = 158

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"



For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800

The Latest on the Housing Stimulus Plan!

While the Stimulus Plan does not include the proposed $15K tax credit for ALL homebuyers (as many of us had hoped for), there are still some great measures to help the housing industry and homeowners.

Read the Latest (White House papers) here!

Dianne Dunn

www.NewBernHomes.com

Search ALL New Bern Listings Here

Subscribe to New Bern Homes Blog Cast by email:

New Bern Market Comparison

According to NAR® surveys, the total existing-home sales fell 6.4 percent to 4.70 million units in the fourth quarter of 2008 from 5.02 million units in the third quarter. They were 5.9 percent below the 5.00-million unit pace recorded in the fourth quarter of 2007.

Home sales rose in only six states, while distressed sales, including foreclosures and short sales, accounted for 45 percent of all transactions during the fourth quarter.

Nevada led all states with an increase in sales of 133.7 percent in the fourth quarter from a year ago. California, Arizona and Florida followed with sales gains of 84.7 percent, 42.6 percent, and 12.5 percent, respectively. These were also the states that had the steepest declines in single-family home prices during the housing market downturn.

The national median price of existing single-family homes was $180,100, down 12.4 percent from the median price in the fourth quarter of 2007.

The most affordable metro area was Saginaw, Mich., where the median home price was $43,900. The least affordable place was Honolulu, with a median home price of $610,000.

For our Local New Bern area market, the chart shows the number of homes Sold from January 1, 2009 thru Feb. 18, 2009, compared to the same time-frame in 2008.

The Good News is, . . . while the number of home sales fell from 152 to 94, the median price range has managed to squeek out a modest appreciation!

So, if you're considering a move, a second home or an investment property, this is a great time to buy! The interest rates are still at all-time lows, and we have a nice inventory to select from!

Dianne Dunn

http://www.newbernhomes.com/

Subscribe to New Bern Homes Blog Cast by Email

Search ALL New Bern Listings

Instant Stress-Busters for Healthy Living!

Are we stressed out as a nation today?


We seem to so much going on in our lives, and the media is full of economic crisis. A good real estate friend of mine, Alice Held, shared the following article from Reader's Digest, and I would like to share it with you!


Click here for 79 Instant Stress-Busters, to start your week - Enjoy!


Dianne Dunn

www.NewBernHomes.com

Search ALL available properties in New Bern!

Subscribe to New Bern Homes Blog Cast by Email

Real Estate Outlook: What's in Store for 2009?

I just read an article by a long-time columnist, Ken Harney, and he says that while it's easy to look at all the negataive economic news in the headlines and say that there's no sign that 2009 is going to be much better than 2008, there's a different perspective to consider.

A vereran financial analyst, Richard Bove of Ladenburg Thalmann, an investment banking company said that he sees a positive dynamic taking shape in the current cycle, and I must agree with him.

The government has intervened aggressively in the markets to push interest rates down -- most notably in the home mortgage sector. Though it takes awhile for low-cost money to begin having its effect, Bove said he expects "housing prices to stabilize and/or rise (in 2009) after a likely boom in mortgage refinancings as rates fall and loan applications increase."

While I disagree with him about housing prices rising in many areas of the country just yet, I would expect that they WILL stabilize, and we'll start to move some of the inventory that we currently have, which is about three times the inventory of homes that we had on the market in New Bern in the early and mid 2000's.

Coupled with the economic Stimulous package that's being put together on Capital Hill -- there's a good chance we're going to see a gradual transformation of the downward cycle into a slow rebound over the coming several quarters.

I met a mortgage banker today in one of the local stores. He said that mortgage applications are off the charts right now, with about 80% in refinances, and still another 20% in new loans, where people are taking advantage of the affordable prices and the low interest rates.

Rates continue to hover at 50-year lows - five percent and even four and three quarters percent for 30-year mortgages, and still lower for 15 and 20 year mortgage terms. Plus, we're all paying a lot less at the gas pump, and sharply discounted prices for retail goods and autos.

And guess what else Ken Harney says? Americans are actually SAVING again, -- the national savings rate took a nearly three percent jump last month. That might sound small, but it's hugely important if it is the start of a trend.

There are also some signs that housing prices are stabilizing in some parts of the country. The latest monthly Federal Housing Finance Agency index found home prices UP by six-tenths of a percent in the Mountain states and UP by two tenths of a percent in New England.

You can ridicule small regional gains as statistically irrelevant, but here's an economic proposal to you for the New Year: Keep your eyes open for the small positive signs that are accumulating out there … because all downcycles tail off and come to an end.

The smartest players in real estate -- consumers and the industry - will make the most of the positives -- low-cost money, low prices, stabilizing local markets -- and thrive in the new year!

Dianne Dunn

Click here for information on New Bern.

To search our MLS for ALL available properties, www.SearchNewBernMLS.com

$15,000 Tax Credit Proposed by Senate!

Several economists have said that the condition of the housing industry is a major factor in leading the way to providing more jobs and improving the economy. While I'm not a trained economist and I don't have a crystal ball, after 33 years in the real estate business, it certainly makes logical sense to me!

Why? When people are buying homes, it's not only the Realtors® who are earning a living, -- jobs are created for builders, subcontractors, plumbers, electricians, carpenters, roofers, appraisers, inspectors, loan officers, and many other trades and professions.

As these professions and trades are earning a living, then they'll be spending money in numerous other areas that also create new jobs, - the retail industry, automotive industry, food chains, medical professions, etc.

The US Senate unanimously passed a bipartisan amendment last night, (offered by two senators --one Republican and one Democrat) to the Economic Stimulus Bill, creating a $15,000 tax credit to individuals who purchase a home in the next year.

While the final details are still being debated, the key parts are:

• The amount of the tax credit would be $15,000 or 10 percent of the purchase price, whichever is less.
  
• The bill applies to ANYONE purchasing a home within the next year.
  
• Must be principal residence.
  
• Purchases must be made within one year of the legislation’s enactment.
  
• Tax credit would NOT need to be repaid, unless the home is sold within 2 years of purchase.
  
• The amendment would sunset the current $7,500 housing tax credit on the date of enactment.

I encourage you to voice support for this amendment, by contacting your Senators and Congressmen: Click on the following link, enter your zip code and your US Senators and Representative names will appear:

http://www.congress.org/congressorg/home/

While there could be several revisions before (or if) this bill passes the House and is signed by the President, it could certainly be a bright spot for the real estate undustry and the economy!

Dianne Dunn

Keller Williams Realty

www.NewBernHomes.com

www.SearchNewBernHomes.com

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 www.NewBernHomes.com

HOMES SOLD (Closed), January 1 through January 31. (From NB Board of Realtors MLS System)
Under $100K = 7
$100K-$159,999 = 13
$160K-$199,999 = 10
$200K-$249,999 = 8
$250K-$299,999 = 2
$300K-$399,999 = 6
$400K - $499,999 = 1
Over $500,000 = 2

Total January 2009 = 49
Total January 2008 = 97
Total January 2007 = 144

NEIGHBORHOOD PROPERTIES "SOLD"

NEIGHBORHOOD PROPERTIES "FOR SALE"

For the BEST Internet Marketing, and the Most Responsive Service in New Bern, Contact DIANNE!
Email Dianne
(252) 636-3301 or Toll Free: (888) 781-8800