Rocky Mount, NC Real Estate News

By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
2009 will be a year of more challenges and opportunities. Prepare yourself with these predictions from HGTV's FrontDoor.com Web site. Sellers will continue to face falling home values in the new year because they'll be competing with banks and builders who are slashing prices to sell off the still-huge inventory of foreclosures and new homes. The Obama administration will act on its plan to crack down on abusive lending practices. Mortgage holders in danger of losing their homes will receive more assistance from a variety of programs since the Senate's Joint Economic Committee has predicted two million foreclosures in 2009. Banks' restructuring should bring increasing calm, making loan modifications and short sales easier to obtain. Eventually this will lead to a decrease in the number ...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
If you own real estate in the Greater Rocky Mount Area of North Carolina that you're thinking of selling, I would be happy to provide you with a FREE Market Analysis. I can help you decide if now is the best time to sell your home. Selling your home without the right agent can be time consuming, stressful, and costly. Contact me to learn how my strategic marketing plan and my expertise will successfully price, market and sell your home in a way the is convenient, simple and affordable to you! Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction. David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687 Copyright ©...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Home improvements tend to inspire thoughts of large, expensive projects. Yet, it is often the little things that add so much value. Do you want to improve your home for resale or personal pleasure but don't want to spend a lot of money? Here are 10 improvements for under $100 each.   Mailbox A tired old mailbox detracts from your home's appeal. Replace it with a new one made of quality materials. Depending on the style that best suits your home, you can choose brass, iron, or other materials. You can put one of those cute green mallards on it, or some other visual motif calculated to offend the neighbors.   Doormat   Anything at the front door will affect your enjoyment of your home as well as a prospective buyer's impression. Replace that worn, dirty doormat with a fresh new one.    St...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Part of the reason so many houses here in the Rocky Mount area stay on the market for so long is that many are overpriced. There are many reasons why Realtors list homes that are overpriced but that's not the topic of this post. I want to stick with the benefits of pricing your home correctly from day one. The bottom line is that pricing your home correctly on the first day it is listed should lead to a quicker sale at a higher price. How can this be you ask. Let me explain. The first couple of weeks your home is on the market are the best time to sell it. Since it is newly listed it will enjoy the most exposure, existing buyers will want to see the new listings, and agents will search for new listings several times a week. If it is priced correctly you should receive serious offers fai...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
There are many things that determine if and when a house sells. However, three things stand head and shoulders above the rest. They are price, condition, and marketing. Lets take a look at these: Price - Your home must have a reasonable and justifiable price. A good buyer's agent will look at comparables to determine if your house is priced correctly. Therefore, it must be priced within the range that comparable homes have SOLD for (reasonable) and the condition and/or unique features must justify your specific price. Price is controlled by the market. Condition - The condition of the property must support the price. The higher you are within the selling price range the better condition your house should be in. Condition is controlled by the seller(s). Marketing - It takes more than a y...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina. Active residential listings totaled 1066 properties. This is a decrease of 32 properties, or 2.9%, from 1098 in October. Inventories typically rise in the fall as the number of buyers dwindle heading into the winter.   Newly listed properties totaled 128. This is a decrease of 36 new listings, or 21.9%, from 164 last month. Sold properties totaled 60. This is a decrease of 28, or 31.8%, from last month's total of 88 residential properties sold. Pending sales totaled 62. This is a decrease of 53, or 46%, from last month's total of 115 properties pending settl...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Last week I reported that the local Prudential Franchise went out of business. Unfortunately, it looks as though a second firm in as many weeks has been forced into memory. This morning it was published that that Team One Real Estate has closed its doors. This was a highly productive and experienced local team that broke out a few years ago and opened their own office. The economy, housing market, and credit freeze continues to take its toll on our business. I wish that the individual "Team One" members land on their feet. David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687 Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *Another Firm Disapears* Related Articles:Lowering The Mortgage Rates Isn't The Answ...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
The government continues to say that it has to address the problems in the housing market. According to news reports, the Treasury Department is considering a plan to drive down mortgage rates as low as 4.5% to help stimulate the housing market.  "Treasury officials said that the [buydown] plan could be a more effective way to help home owners than focusing solely on borrowers who are struggling to meet their monthly payments," the Washington Post story says. Under the Treasury plan, lenders would sell newly issued mortgage-backed securities to the government provided the interest-rate on the loans collateralizing the securities was no higher than 4.5 percent. I think that lowering the interest rates are always a good idea. However, if they think this will bring buyers back into the hou...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
I was reading the paper this morning, http://www.rockymounttelegram.com/news/slow-sales-close-prudential-franchise-276713.html, and saw that the local Prudential franchise, Prudential Ferrell Realty, has closed due to slow sales. The Prudential Ferrell Realty had offices in Rocky Mount and Tarboro. The agents have been absorbed into the local Coldwell Banker and Century 21 franchises. I want to extend my wish that all involved will recover and prosper in the near future. Our local real estate market is suffering a perfect storm. The recession, a poor local economy, the credit crunch, constant bad news via news outlets, and low consumer confidence all combine to create a less than desirable environment. Even though the government finally said we are in a recession this week we have all k...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Bargain hunters and home owners who pulled their properties off the market hoping for better days down the road helped shrink the inventory of available homes in November for the second month in a row. Total listing of homes for sale declined 2.9 percent in November compared to October, according to figures compiled from the Rocky Mount MLS. Total listings at the end of November were less than one percent higher than they were in November 2007 in areas serviced by the Rocky Mount MLS. Demand for housing slowed in November and pending sales were also down.   Two months do not make a trend, but it's nice to see local inventories drop for the second month in a row. David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687 Copyright © 2008 By David...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
As a seller "Days on Market" are important. Not only do you want to sell your house as quick as possible, you also want the best price. Typically, the quicker you get an offer the better price you will receive. How do you do this? First, you work with a Realtor© that understands how to market your property to the widest possible audience. Placing an ad in the Sunday paper is NOT marketing. Second, you ensure you have a reasonable and justifiable price for the type, location, size, and condition of the property. Finally, if after 90 days or 10 showings you still haven't gone under contract then you and your Realtor© need to review the sales plan and make some needed adjustments. Just this morning I showed a house and the first question the potential buyer had was, "How long has this hous...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
I get calls almost everyday from people looking for foreclosed homes. In these tough times it makes sense to look for the best bargain. Unfortunately the local MLS system is not set up to filter out foreclosures as a group. Therefore, to satisfy the growing demand for foreclosed properties I have created my own system. I have just launched a new service, www.M3Forclosures.com. This service will email foreclosures when they are released and listed "For Sale" by the banks. Many foreclosures sell quickly as they are sold well below current market value. The initial service area is Nash, Edgecombe, and Wilson Counties. I will consider expanding this service based on feedback and need. If you would like to receive these "Foreclosure Alerts" simply go to www.M3Foreclosures.com to register. Yo...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina. Active residential listings totaled 1098 properties. This is a decrease of 56 properties, or 4.9%, from 1154 in September. Inventories typically rise in the fall as the number of buyers dwindle heading into the winter.   Newly listed properties totaled 167. This is a decrease of 29 new listings, or 15%, from 193 last month. Sold properties totaled 88. This is an increase of 22, or 25%, from last month's total of 66 residential properties sold. Pending sales totaled 115. This is an increase of 39, or 33.9%, from last month's total of 76 properties pending set...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Single Story For Sale in Northgreen Everything you want! • 1,540 sq. ft., 2 bath, 3 bdrm single story - MLS® $140,000 - The Price Is Right! Northgreen, Rocky Mount  -  Relax in your private retreat in this beautiful home that backs to the fairway of a popular golf course community. Pride of ownership shows in this model-like home in a country-like setting that is minutes from shopping, restaurants, medical, US64 and I-95.Put your rocking chairs and a swing on the inviting wraparound front porch that beckons you inside to a spacious, open floor plan that flows easily around the centrally located gaslog fireplace. Neutral colors throughout, along with white plantation shutters, offer a truly airy feel to this pristinely maintained home. You'll enjoy cooking and entertaining in the bright,...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Many times I am called by sellers who have had their home previously listed with other Realtors©. These sellers want to sell their house but want to know what I will do differently than what has been done already. One of the questions I always ask is "How many showings did you have?" If they only had a few showings than one, some or all of the following were not in proper alignment: MarketingMarketing is an extremely important part of the process. In a buyers' market we have many more houses for sale than we have buyers. Therefore, it's always a challenge to ensure that potential buyers are not only aware that your house is "For Sale", but also to have a description that makes them want to see the house. The marketing campaign needs to appeal to the demographic that will purchase the ho...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina. Active residential listings totaled 1086 properties. This is an increase of 30 properties, or 2.7%, from 1056 in May. Inventories typically fall this time of year as buyers take advantage of large inventories and the summer moving season.  However, this did not happen. Newly listed properties totaled 178. This is a decrease of 16 new listings, or 8.2%, from 194 last month. Sold properties totaled 81. This is a decrease of 7, or 8.6%, from last month's total of 74 residential properties sold. Pending sales totaled 114. This is an increase of 19, or 16.6%, fro...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
In North Carolina as in most states, the "Offer to Purchase" gives the buyer the right to conduct home inspections, termite inspections, etc. This is a time for the buyers to have total access to the property to determine its condition. Most buyers hire a professional Home Inspector. Professional Home Inspectors are knowledgeable, experienced, and thorough. These inspections take 3 - 4 hours to conduct and in the course of the inspection they will go into the attic, crawl under the house, run the appliances, open every door, turn on every faucet, etc. The point I'm trying to make is that they were hired by the buyers to inspect the property. As a seller you agreed to this condition. Therefore, you should give them the time and space they need to do what they need to do. Recently I had a...
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina. Active residential listings totaled 1056 properties. This is an increase of 30 properties, or 2.8%, from 1026 in May. Inventories typically fall this time of year as buyers take advantage of large inventories and the summer moving season.        Newly listed properties totaled 194...(read more) 
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
As a seller "Days on Market" are important. Not only do you want to sell your house as quick as possible, you also want the best price. Typically, the quicker you get an offer the better price you will receive. How do you do this? First, you... Read Why Days on Market Matter in its entirety. Visit David C Reckers website, www.NCRealEstateWeb.com, and Blog, NC Real Estate Now Blog, for more information about Dave's Professional Services, Service Areas, Homes for Sale, and local information.
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By David Recker
(Connect Realty - http://www.NCRealEstateWeb.com)
Dramatic Drop in Sales June 2008 will go down as a bad month in Real Estate for our local area. I hope this is just a bump and not the beginning of a new downward trend. Why was it such a bad month? Historically we sold much less than we should have. In fact we sold 49% less Read More...
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