As many await the outcome for the Historic Green Park Inn, Rogers Realty & Auction Company have released that high bid is between $1.5 and $2 million dollars. For a couple more weeks, Rogers will continue to accept bids and interested parties can contact Rogers Realty & Auction Company at 336-789-2926 for bidding information.
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Research gathered by NAR and Chief Economist of the National Association of REALTORS, Lawrence Yun explains the current state of our industry. “After four years of declines, homes sales on a national basis finally appear to be turning around.” Pending Sales and Closed Sales are both up for several straight months. First-time home buyers have taken advantage of the highly discounted homes across our market. Another key component to buyer confidence is the relationship between home prices and mortgage payments compared to income levels. In many markets the relationship between these three are at a comfortable level, below historic levels.
Other information that is really important; seller traffic is down from a year ago, while six-month expectations, current conditions, and buyer traffic is up. Many are saying, as the Today show noted earlier today, that prices seem to have hit the bottom and in many areas is starting to climb.
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Don’t get too excited, but the current inventory numbers, as of today, are looking great. For the entire market, our inventory reserves dropped almost a quarter of a year from 75 months to 71 months. For residential property, we saw a drop from 42 months to 39 months. These are great signs…but what do they mean?
Our sales have been up over the last few months and our inventory numbers have stayed the same. The current properties under contract are another great indicator of what is ahead. Though our under contracts did drop a few over the last two weeks, they are still very good.
Pricing, what about price points? Great Question, take a look at the last two sheets and you will see the Absorption Rate for each pricing point. These numbers are the best indicators of what are market is doing right now.
Thank you,
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
To see property listed on our website, PLEASE CLICK HERE Thank You for allowing me the opportunity to serve you.
The Green Park Inn is still up for grabs; with a bid at the auction topping $1,320,000 the bid was not accepted. The real estate company is still negotiating with three potential buyers. What does this mean for the landmark
Sorry, got away from the point. The Green Park Inn is awaiting its new owner, and Blowing Rock is still discussing the value of this landmark as it is the “first” thing many visitors from the South see as they enter Blowing Rock.
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
HOME SALES UP IN 39 STATES
Thirty-nine states experienced sales increases from the first quarter, and nine states were higher than a year ago, according a recent survey from NAR. Include these survey results in your newsletter or blog to encourage buyers that the market is improving! (Press Release, August 12, 2009, NAR)
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Legislation to improve home inspection reporting and licensing was approved by the House Finance Committee, the full House and was concurred in by the Senate this past week. SB 1007 (Amend Home Inspector Licensure Laws), introduced by Sens. David Hoyle (D-Gaston) and Don Vaughan (D-Guilford), http://www.ncleg.net/Sessions/2009/Bills/Senate/PDF/S1007v5.pdf, clarifies what information should be contained on the summary page of the home inspection report. And the bill requires all existing home inspectors to take 48 hours of instruction over the next three years on inspection techniques and reporting requirements. The bill also changes the licensing procedure from an apprentice-style approach to one that requires pre-licensing education. In addition to the hard work of the Senate sponsors, the sponsors of the legislation in the House (Rep. Pryor Gibson (D–Anson) and Rep. Thom Tillis (R–Mecklenburg)) were tireless in advocating for this legislation.
Rick Zechini
Director of Government Affairs
rzechini@ncrealtors.org
NC Assn of REALTORS
http://ncrealtors1.blogspot.com/2009/08/home-inspector-legislation-passes.html
I thank Rick for passing this important information along to each of us…and a well deserved Thank you for all of his efforts in the mighty task he takes on in
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Today is the Last day of Summer Vacation for Elementary and High School Students in the High Country. SCHOOL STARTS TOMORROW. This means two things: 1. Homework and early morning for many kids 2. Traffic in the mornings and the early afternoons. Be patient as traffic begins to flow through the new construction barrels that will be setting up on
Regards,
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
Current numbers are beginning to show signs of a better market ahead. With several more months left in the “selling season” we are all keeping our fingers crossed that we will have a productive third and fourth quarter. Our inventory numbers are still very high, but recent sales and recent contracts have shown a good indication that we are starting to overcome this recession.
Feel free to email or call me for a copy of our market’s inventory numbers, also known as Market Absorption Rate (ARP).
Marc White
Marketing Specialist, ABR, GRI, ePro
Broker/REALTOR
Direct 828-406-2134
