First Monday Market Reports

For the first time this year, we have seen our Market Absorption Rates fall in two of our three categories (All & Land). This is great news, especially as we have also seen the number of properties under contract go up in the past few weeks.

While sales have risen, so have the number of listings, which is the main reason why residential listings had a small increase in their Market Absorption Rate.

Marc White, ABR, GRI, E-Pro

Marketing Specialist

Direct 828-406-2134

Marc@CedarFallsRealty.com

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Marc White
High Country Real Estate, Boone Real Estate, Blowing Rock Real Estate, Banner Elk Real Estate

Foreclosure rate for North Carolina

Interesting information about the foreclosure rate for NC compared to the country. It people are comparing NC to what the media reports nationally, and especially our area, here are the numbers as reported for the state. Obviously we aren’t seeing the big increases as reported. If you click the link for North Carolina in the chart it takes you to Realtytrac to see what foreclosures they show for sale by each county. It appears a lot in our area are in Beech Mountain, which seems to mimic the lack of sales in that area as well.

North Carolina has a state ranking of 36, which shows positive for our state. Total state filing for Q1 of 2009 5, 988. That is a change of -19.69 from the fourth quarter of last year till the first quarter of this year. Also the change from the first quarter of last year to the first quarter of this year is -41.77.

Thank You,
Marc White
828-406-2134
Marc@CedarFallsRealty.com

Help, I can't ReFinance

Today, I came across an article in the Wall Street Journal by Ruth Simon, she indicated that several of the Nation's largest banks have begun to offer money from Obama's recent stimulus package. The housing-relief package has allowed many banks to offer refinancing options for those that have not been able to refi under the current banking regulations.

Many banks have begun to accept applications for these new refi loans. The article also included the recent information from Bank of America indicating that BOA is not (yet) accepting application with mortgage insurance. This is mainly because no one seems to be sure if the insurance companies are able to transfer the insurance from one loan to another.

Thank You,

Marc White
828-406-2134
Marc@CedarFallsRealty.com

Land Financing

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