NCRealEstateWeblog.com

The following report is provided as a public service by David C. Recker, Realtor, RE/MAX Point East, Rocky Mount, North Carolina. The following are indicators of the Greater Rocky Mount Area Real Estate Market.These statistics were gathered from data contained in the local MLS system.

Active residential listings totaled 966 properties. This is an increase of 44 properties, or 5%, from 922 in December. This housing increase is typical for this time of year as sellers prepare for the Spring market.

Newly listed properties totaled 274. This is an increase of 122 new listings, or 45%, from 152 last month.

Sold properties totaled 102. This is a decrease of 10, or 9%, from last months total of 112 residential properties sold.

Pending sales totaled 150. This is an increase of 48, or 42%, from last months total of 102 properties pending settlement.

The Greater Rocky Mount Area currently has a 9.4 month housing supply. This is up from a 8.2 month supply in December 2006.

What does all this mean? The local housing market is still saturated with available housing. The increases we see in inventory this month are substantial but typical for this time of year. These indicators show that we are still in a strong "Buyers" market and will be for the foreseeable future. What is a Buyers market? This is when conditions exist that allow buyers to obtain concessions from sellers that they would not receive in a balanced market.

If you are looking to buy, this market is for you. In this market buyers typically get more for their money and receive seller concessions regularly.

If you are a seller this is not a bad time to sell. You just need to have a realistic expectation of your homes value and need to work with a Realtor that will provide maximum exposure for your property.

Feel free to contact me with any questions or comments you may have. Also, please visit my website www.NCRealEstateWeb.com and my Blog NCRealEstateWebBlog.

With all the conflicting news about the real estate market you may be hesitant to put your property up for sale. There are many reports that the market hasn't "Hit Bottom" yet, "Excess Inventory", and "Prices are still too high".

However, the reality is that here in the Greater Rocky Mount North Carolina Area we average selling 127.3 properties per month (2006 average). So, why would you wait?

If you are wanting to sell then of course your property must be "For Sale". The key to being one of the "127.3" is to have a property that shows well, is priced right, and a marketing campaign that provides maximum exposure.

Just knowing this isn't enough. The key is to search for and select the Realtor that will help you get your property priced right and has a marketing strategy that will provide maximum exposure. You of course, control the properties condition and therefore how well it shows.

Be very cautious about listing your property with a Realtor that merely selects the list price at whatever you want. Your Realtor should provide sound advise based on experience and data to back up his/her pricing strategy. If you are interviewing a Realtor that can't show you data to support the list price then you should run, not walk away and find another.

Also, marketing is differant from advertising. We are in a solid "Buyers" market. It will take more than a sign in the yard and an ad in the Sunday paper to get your property sold at the best price. Marketing is an integrated series of tasks and actions that result in wide exposure for your property.

If you are thinking of selling and would like the best possible opportunity to do so, please give me a call. All it will cost you is about an hour of your time to meet with me and discuss a pricing and marketing strategy for success.

I can be reached at 252-442-2687.

 Just listed: 4790 Kaitlin Road, Rocky Mount, NC 27803.

$65,000, 3 Bedroom, 2 Bathroom, 1120 sqft, Single Family Doublewide, .93 Acres, built in 2000.

Enjoy this quiet country setting centrally located just minutes from Rocky Mount, Nashville, schools, shopping, and major highways.

This well maintained one owner home, has upgraded bathrooms, upgraded lighting, new carpet in the master bedroom, and a nice large usable.93 acre lot.

For more information contact: David Recker, RE/MAX Point East, 252-442-2687

At times people who want me to show them houses don't want to sign a "Buyers Agency Agreement". They feel that this will lock them into some kind of contract that will limit their options. I'll give you three reasons why it IS in your best interest to sign this agreement.

1. The Law of Agency (Common Law) is the body of law that governs the relationship that exists between brokers and their principles (Clients). The point I am attempting to make is that the relationship between "Buyers" and Realtors is governed by law.

2. In accordance with "Agency Law" all Realtors/Agents are subagents of the seller unless they work for a firm that ONLY represents buyers. What exactly does this mean?

If you DO NOT sign the "Exclusive Buyer Agency Agreement" then I represent the Seller, not you, as I am showing you properties. This is significant as I would think you would rather I look out for your best interest, not the sellers.

3. If you want to be able to work with another Realtor next week that's OK. We can make the length of this agreement one day to cover the houses I show you today. If you don't like any of these and want to speak with another Realtor next week you are free to do so because our agreement has expired.

The only limiting factor in this one day agreement is that if I show a property and you want to buy it. I am eligible to be paid since I was the reason you were able to view this property. I DO think this is only fair.

So, by signing the "Exclusive Buyer Agency Agreement" I am able to represent YOU not the seller, legally obligated to look out for your best interests, and the agreement can cover any time period we agree on.

Hopefully this helps to clarify why YOU should want to sign the "Exclusive Buyer Agency Agreement".

For more real estate articles and information visit NCRealEstateWebBlog.

Rocky Mount is located on Interstate 95 and U.S. 64, exactly halfway between New York and Miami, in North Carolina's coastal plain, some 120 miles from the Atlantic coast and 200 miles from the Blue Ridge mountains. Rocky Mount is 50 miles east of Raleigh, the state capital, and straddles the county line between Nash and Edgecombe counties.

Rocky Mount also has plenty of available housing in all price ranges. According to a recent 2006 survey conducted by National City Corp, one of the nation's top 10 mortgage lenders and Global Insight, the Rocky Mount real estate market is 7% undervalued.

The National City Corp report determined what home prices should be, controlling for differences in population density, relative income levels, interest rates, and historically observed market premiums or discounts.

Therefore, Rocky Mount is not only a good location geographically, but a good location to purchase real estate as well.

For more information about local real estate opportunities visit http://www.ncrealestateweb.com/

North Carolina's population is booming - and that bodes well for real estate.

North Carolina has moved past New Jersey as the 10th most populous state. Its population grew 2 percent in 2006 to 8.8 million, according to the U.S. Census Bureau. In 20 years, it is expected to be the country's seventh most populous state.

More people equals greater housing demand; Existing home sales in the state were up 4 percent in November, while national sales were down 4.4 percent over the year earlier.

Why is the state attracting so many new residents?

You can read the rest of this and other articles at NCRealEstateWebBlog.

Just listed: 768 Brassie Club Drive, Rocky Mount, NC 27804. $200,000, 4 Bedroom, 2.5 Bathroom, 2348 sqft, Single Family Detached, .42 Acres, built in 1991

Beautiful, prime lot, on quiet street in a family friendly neighborhood.  This Cul-De-Sac location is surrounded by the North Green golf course.

This home is well maintained and painted in neutral colors. The floor plan and abundant windows ensure freedom of movement and lots of natural light. Large yard, lots of parking, close to shopping, restaurants, I-95, Hwy 64, and 301. 

The front door opens into a foyer with crown molding and hardwood floors. This level has a formal living room with crown molding, a formal dining room with crown molding and chair rail. Eat-in kitchen with plenty of cabinets, large pantry, and the dishwasher, stove, and refrigerator convey.  The Great room boasts beautiful built-in bookcases on either side of the wood burning fireplace. The main level also has a powder room and a walk out to a large deck with steps leading to a fenced back yard.

The upper level has everything a modern family needs: large master bedroom with a walk-in closet, and large master bath with twin vanities, and whirlpool bath.  Three more bedrooms with full bath, linen closet, and washer & dryer hookups finish out this level.

This home with its floor plan and formal areas are perfect for entertaining and/or reserved as your private retreat.

This home is perfectly suited for your family or a professional couple with space for privacy and growth.  

The only thing missing is you!

For more information contact: David Recker, RE/MAX Point East, 252-442-2687

The local housing market is still saturated with available housing. The decreases we see in inventory this month are sunstantial but plenty of housing is still available. 

With a 8.2 month supply of houses we are still in a strong "Buyers" market and will be for the foreseeable future. What is a Buyers market? This is when conditions exist that allow buyers to obtain concessions from sellers that they would not receive in a balanced market.

If you are looking to buy, this market is for you. In this market buyers typically get more for their money and receive seller concessions regularly.

If you are a seller this is not a bad time to sell. You just need to have a realistic expectation of your homes value and need to work with a Realtor that will provide maximum exposure for your property.

The entire report can be viewed at the North Carolina Real Estate Web Blog.