Third Monday Market Update

Robert,

 

Snow, Cold air, & Ice have been the discussions over the last few weeks. The most damaging has been the cold air. Several homes (that were not winterized) have for one reason or another had issues with the heating system, thus causing pipes to freeze and water pipes that cracked under the pressure. Please be aware that pipes on an exterior wall can freeze even if the home is kept at a reasonable living temperature.

 

Also, as we get closer to the start of a new year, we are real estate agents in North Carolina are preparing for the largest change in real estate contracts in decades. The new listing agreements (that have been approved by the North Carolina Bar Association, the North Carolina Real Estate Commission, and North Carolina REALTORS) have already begun circulating. These changes include seller disclosure of potential Foreclosing, Loan account information, and several additional items to help prepare for property transactions.

 

The new Offer to Purchase and Contract has seen many changes that will greatly impact real estate transactions after the first of the year. As soon as the new Offer to Purchase and Contract is available for use, I will be sending you a copy. As you receive this, please look over the contract and let me know of any questions that you might have.

 

FYI: our MLS is absorbing a local MLS that was losing members. Because of this, we will see more listings in our MLS at the beginning of the year. This will slightly change our Absorption Rate, but will do very little to change your chance to sell your property. Most of the listings are not in a comparable area to your property.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!

 

First Monday Market Update

More and more properties are coming off the market for the winter. Our Absorption Rate is declining and the number of properties Under Contract are remaining stable. Currently, buyers have this thought that our market has declined 20% since 2006…we are not sure where they have come across this number. Because of this, buyers are making ridiculously low offers on properties on the market. Most sellers have decided to hold tight their sales/list prices which will help us in the long run, but for now it keeps the number of transactions low.

 

Just an FYI: our MLS is absorbing a local MLS that was losing members. Because of this, we will see more listings in our MLS at the beginning of the year. This will slightly change our Absorption Rate, but will do very little to change your chance to sell your property. Most of the listings are not in a comparable area to your property.

 

Regards,

 

 

Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR, Top 10 Listing Agent for 2009
Direct 828-406-2134
Marc@CedarFallsRealty.com
Make sure your REALTOR is RE-MARC-ABLE!