North Carolina is in Full swing, school has started, Labor Day is now passing, Fall is in the Air, and the National Elections have found our door-step. With the national election only months away, it is important to note, that real estate markets usually await a decision before making leaps forward. After the elections (in almost every case), the real estate market recovered the projected loss from the prior months. With this information, it was nice to see the below article posted on Thursday...
Mortgage rates reverse course
After three weeks of gains, a return to near-record lows
BY INMAN NEWS, THURSDAY, AUGUST 30, 2012.
Mortgage rates eased this week, reversing three consecutive weeks of increases, as Federal Reserve policymakers weighed further stimulus measures that could include additional purchases of mortgage-backed securities that fund most U.S. mortgage loans...(for more information go to... http://www.inman.com/news/2012/08/30/mortgage-rates-reverse-course)
*From the Message last month, you will notice a new addition to our Market Update. We have added two great features to our data fields. First, we added information regarding New Construction and how it fares in our market. Also, and more importantly, we have added a probability % that offers a glimpse into the probability of selling your property against the current active inventory. That is not to suggest that more inventory will not come onto the market (which of course it will) or does it suggest that your property is above or below average for our market. It is simply another way to gauge what is going on across the spectrums of our market. Numerous top agents stop using DOM-Days On Market (years ago), when they realized this data was a best inaccurate and most likely misleading to the public. With the number of properties that are re-listed in our MLS system, there is not an accurate of counting the actual Days On Market. It is a dysfunction of our MLS system, but one that is not very accurate anyway.
**For a copy of the most recent Market Update (Market Absorption Rate 2012-09-03), please call or email me at anytime.
Marc White
Marketing Specialist, ABR, ePro, GREEN, GRI, zPro
Broker in Charge, Cash Realty & Construction
Call/Text 828-406-2134
Search 1,000s of Homes Instantly at www.MarcWhiteHomes.com
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