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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 Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina.

Active residential listings totaled 1058 properties. This is an increase of 5 properties, or 0.5%, from 1053 in October. Inventories can rise during the fall and winter months because of slower sales.     More...

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWeblog.

Before You Look
It is important that you understand how much you can afford or are willing to pay before you go out and look for a new home. But what do you do before you are ready to speak with a Realtor and/or mortgage professional?

Simply, you can use a mortgage calculator to play with the numbers to get a good idea of affordability based on your specific circumstances.

My website, http://www.ncrealestateweb.com/, offers a "Calculator" for just this purpose. Feel free to use it as often as you like. You will find it in the navigation bar or you can simply Click Here.

Working With A Realtor
Once you contact a Realtor one of the first things is to get "Pre-Qualified". Pre-qualification ensures, at a minimum level, that you have the capacity to purchase in a certain price range. Pre-qualification is not a guarantee of a loan but, you have at least begun the process with a specific lender. During this initial step the lender has typically checked your credit, income, debt, and employment status.

Pre-qualification is important for many reasons. The most obvious is to ensure your Realtor shows you houses in your price range. Beyond this it is also important to provide a copy of your pre-qualification letter with any offer you write. Pre-qualification shows the seller that you are serious about buying and have begun the financial process.

The Perfect Home, Can You Afford It
Affordability is more than having a down payment and being able to make the monthly payments. In fact, just because a lender tells you can afford hundreds of thousands of dollars doesn't mean you really can.

Buying a home is probably only one of your major financial goals. You still need to save for retirement, send your kids to college, and be able to take a vacation every now and then. Making a loan that commits every last dollar leads to frustration at best, and disaster at worst.

Make sure you will still have some money to set aside for not only the things mentioned above but also home maintenance. Making minor repairs to avoid major problems is a constant expense with home ownership. Also, what if the roof starts leaking, the hot water heater breaks, or the heating and air conditioning system stops working? This is the reality of home ownership.

There are many advantages to owning your own home verses renting. However, there is no advantage in getting in over your head. The key is being honest with yourself.

I Can Help With Financing!
I can help you get pre-approved for a home loan so that you can confidently shop for a home that's not only perfect, but also perfectly affordable. Well-priced and maintained homes still sell quickly in this market.  

Call me at 252-442-2687 with any questions you may have. I service the Edgecombe, Nash, and Wilson counties in North Carolina. These counties include Rocky Mount, Nashville, Red Oak, Tarboro, Wilson, Bailey, Spring Hope, Pinetops, and more.

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWeblog.

Looking for homes for sale in the greater Rocky Mount, North Carolina area?  http://www.ncrealestateweb.com/  is the most complete source of homes for sale in Nash, Edgecombe, and Wilson counties.

This site is your online guide for buying a home, selling a house or home, buying a house for investment, or relocating to North Carolina. Search homes for sale on our website and/or search entire local MLS.

 Please visit http://www.ncrealestateweb.com/ and return as often as you like.

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWebBlog.

All Real Estate Is Local
One of the key factors experienced Realtors consider when pricing and listing a home is the current housing absorption rate. The absorption rate is critical in determining an areas housing supply because it is based on what is actually happening in the local housing market.

Sellers are bombarded with locally irrelevant information from the various news media. These reports tend to be national, state, or regional in nature. Although it is always good to know and understand what is happening around us, these trends tend to have minimal impact on the local real estate market.

Current Housing Supply
Based on local data for the 12 month period ending October 31, 2007, the current absorption rate for the Rocky Mount, North Carolina area is 114 homes SOLD per month.

Now, applying the local absorption rate to the currently available local inventory gives us the local housing supply. The Rocky Mount area has a current housing supply of 9.2 months.

Supply and Demand
Price in real estate is mostly a matter of supply and demand, just like every other industry.

Understanding the local supply of and demand for housing is critical in determining whether we are in a sellers, balanced, or buyers market. Most experts agree that a balanced market (this is where neither the buyer nor the seller has an advantage) exists when there is a 4 - 6 month housing supply.

With a 9.2 month housing supply the Rocky Mount area is definitely in a buyers market.

A Buyers Market
What does all this mean? The local housing market is saturated with available housing. A 9.2 month housing supply confirms that we are still in a strong "Buyers" market and will be for the foreseeable future.

What is a Buyers market? This is when market conditions exist that allows 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.

There is no better time to buy than right now!

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.

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East in Rocky Mount, North Carolina.  

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWebBlog.

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 Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina.

Active residential listings totaled 1053 properties. This is an increase of 12 properties, or 2%, from 1041 in September. Inventories can rise during the fall and winter months because of slower sales.    

Newly listed properties totaled 195. This is an increase of 1 new listings, or 1%, from 194 last month.

Sold properties totaled 103. This is an increase of 2, or 2%, from last months total of 101 residential properties sold.

Pending sales totaled 107. This is a decrease of 4, or 4%, from last month's total of 111 properties pending settlement.

The Greater Rocky Mount Area currently has a 10.2 month housing supply based on the October 2007 sales rate. This is a slight decrease from a 10.3 month supply in September 2007.

Overall the local market is down by 4.8% when comparing year over year statistics for the same period in 2006.

What does all this mean? The local housing market is still saturated with available housing. The stable inventory numbers for this month are 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 allows buyers to obtain concessions from sellers that they would not receive in a balanced market.

 What is considered a "Balanced" or "Normal" market? Typically this is when houses sell between 3 - 4 months.

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.

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

The towns located in these counties are; Bailey, Battleboro, Castalia, Dortches, Middlesex, Nashville, Red Oak, Rocky Mount, Sharpsburg, Spring Hope, Tarboro, Whitakers & Wilson

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWebBlog.

The holidays are quickly approaching and sellers always want to know if they should keep their home on the market. In short, YES.

If you search the internet looking for articles about this topic you will overwhelmingly find people who say the opposite. They go on to list many reasons why you should pull your listing until after the holidays.

If you are the one who decorates to excess, and has a house full of family and friends for a couple of weeks than you probably DO want to temporarily take your house off the market for these couple of weeks. However, this is not most people.

Holiday Season
In Rocky Mount, the changing seasons and weather have little effect on buyer demand. The local climate does not change enough to deter those with a real estate need to continue looking and ultimately purchase this time of year.

Buyers this time a year are serious about buying. It is just as inconvenient for them to buy as it for you to sell. Those who need to move want to get it done. Therefore, they negotiate less on price, repairs, closing dates, etc.

I have SOLD many homes during the holiday season. Local homes sell throughout the year so think of the Holidays as only one factor in deciding whether to buy or sell.

The holidays are NOT a bad time to sell. Sellers just need to be realistic in approaching this period and need the guidance and advice of a seasoned Realtor. The upside to listing your house this time of year is that historically inventories (available houses) drop in the winter months. Therefore, you will have less competition for available buyers. Also, may serious buyers will want to purchase before the end of the year to take advantage of the tax breaks in this current year.

So, to all the sellers who are wondering, "Should I keep my home on the market over the holidays?" I answer, yes. If you need to sell your property than you property needs to be "For Sale".

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

The towns located in these counties are; Bailey, Battleboro, Castalia, Dortches, Middlesex, Nashville, Red Oak, Rocky Mount, Sharpsburg, Spring Hope, Tarboro, Whitakers & Wilson

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWebBlog.

When buying real estate, you may find it helpful to have a real estate agent help you. Real estate agents can provide many useful services and work with you in many ways.

When buying real estate, you may have several choices as to how you want a real estate firm and its agents to work with you. For example, you may want them to only represent you (as a buyer's agent). You may be willing for them to represent both you and the seller at the same time (as a dual agent). Or you may agree to let them represent only the seller (seller's agent or subagent). Some agents will offer you a choice.

The following are reasons why you SHOULD sign a Buyer's Agency Agreement:

- A Buyers Agency Agreement is provided for your protection and it is in your best interest to have someone represent you when purchasing real estate.
- A buyer's agent will explain agency to you and define the agency relationship in which you entered.
- A buyer's agent is required to provide you with client-level services, which include obedience to lawful instructions, undivided loyalty, full disclosure, confidentiality, accountability, reasonable skill and care.
- A buyer's agent will listen to your objectives and preferences in property styles, age, floor plans and then develop from this information a target property profile.
- A buyer's agent will be available to you in a timely manner
- A buyer's agent can assist you in obtaining financial pre-approval, which will provide you with more negotiating power. CAUTION- If you get pre-approved today it does not guarantee financing in the future.  The market is changing daily.
- A buyer's agent can save you time by searching out, pre-qualifying and pre-screening appropriate properties that meet your criteria.
- A buyer's agent can assist you in viewing and purchasing a home from any brokerage,  not just their agency's listings.
- After viewing properties, a buyer's agent can discuss and compare them with the targeted property profile. A buyers agent must point out the negative aspects on each property, not just the positives
- Before preparing an offer to purchase, a Buyer Agent will inform you about any defects or problems he/she has observed or in any way discovered regarding the target property
- A buyers agent can tell you if a listing is overpriced and help you formulate a fair and justifiable offering price
- A buyers agent will discuss with you a negotiating strategy and represent you, his/her client, all the way to the closing table
- A buyers agent will keep you informed  about the ever-changing local real estate market
- A buyer's agent will get you the best possible price and terms on the property, you want.
- A buyer's agent will attend inspections, final walk-through and closing.
- A buyers agent will review a settlement statement with you at or before closing

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

The towns located in these counties are; Bailey, Battleboro, Castalia, Dortches, Middlesex, Nashville, Red Oak, Rocky Mount, Sharpsburg, Spring Hope, Tarboro, Whitakers & Wilson

Dave's website http://www.ncrealestateweb.com/ is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWebBlog.

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 Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina.

Active residential listings totaled 1041 properties. This is a decrease of 25 properties, or 3%, from 1066 in August. A reduction in available inventory is typical during the fall and winter months.    

Newly listed properties totaled 194. This is a decrease of 2 new listings, or 1%, from 196 last month.

Sold properties totaled 101. This is a decrease of 34, or 25%, from last months total of 135 residential properties sold.

Pending sales totaled 111. This is a decrease of 46, or 30%, from last month's total of 157 properties pending settlement.

The Greater Rocky Mount Area currently has a 10.3 month housing supply based on the September 2007 sales rate. This is up from a 7.9 month supply in August 2007.

Overall the local market is down by 14% when comparing year over year statistics for the same period in 2006.

What does all this mean? The local housing market is still saturated with available housing. The stable inventory numbers for this month are 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 allows buyers to obtain concessions from sellers that they would not receive in a balanced market.

 What is considered a "Balanced" or "Normal" market? Typically this is when houses sell between 3 - 4 months.

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.

About the Author
David C. Recker is a Top Producing Realtor Licensed in North Carolina. Dave works at RE/MAX Point East and serves Edgecombe, Nash, and Wilson counties in North Carolina.

The towns located in these counties are; Bailey, Battleboro, Castalia, Dortches, Middlesex, Nashville, Red Oak, Rocky Mount, Sharpsburg, Spring Hope, Tarboro, Whitakers & Wilson

Dave's website, http://www.ncrealestateweb.com/ , is one of North Carolina's top real estate websites and you can read frequently posted Articles and Blogs by Dave at NCRealEstateWebBlog.