Calculating your readiness to buy a house involves a lot of different factors. Among them, though, financial considerations and affordability are usually near the top of the list. Things like home prices, your income, job security, and mortgage rates will be a big determiner of whether or not you feel like now's the time to buy. Fortunately, prospective home buyers currently calculating their readiness will find that, in most cases, conditions are improving. For example, Freddie Mac's most recent Primary Mortgage Market Survey shows that mortgage rates have moderated after rising in April. Sam Khater, Freddie Mac's chief economist, says combined with a strong job market and modest wage growth, this is good news for potential home buyers. “Investors wary of the current economic situation due to ongoing trade disputes resorted to the bond market, causing the 10-year treasury yield to decrease,” Khater said. “A combination of low mortgage rates, a strong job market, and modest wage growth should spur home buyer interest and also serve as an incentive for homeowners looking to refinance this spring.” Buyers in Eastern, NC, are seeing a home market with a good inventory of homes and good home pricing. This area has a strong job market making home buying much easier for a lot of people. To see some of the homes available in this area go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin

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Anyone who's been paying attention to the housing market over the past couple of years knows home prices have been increasing. That's good news for homeowners who are thinking of selling their house and moving somewhere new. But just how good? Well, according to ATTOM Data Solution's Q1 2019 Home Sales Report, homeowners who sold during the first quarter of the year saw an average price gain of $57,500 over what they originally paid for their home. That's an average 31.5 percent return on their original purchase price. But though that's a pretty good return, it is down from where it was at the end of last year, when the average gain was $60,000. Still homeowners who want to sell this year, can expect to get a good price for their property. That's good news for potential sellers but it can also be good for buyers. After all, if more homeowners put their homes up for sale, it'll boost inventory levels, which will help balance the market and give prospective buyers more choices.

One area with a very good inventory of homes is Eastern, NC. This area has become very popular for buyers because of the good choices. Having so many choices has also kept prices good, helping more people be able to get into the housing market. To see some of the homes available in this area go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin.

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According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were mostly flat last week. Rates for 30-year fixed-rate loans with conforming and jumbo balances were down slightly, while 15-year fixed-rate mortgages saw no movement. Loans backed by the Federal Housing Administration increased from the week before. Joel Kan, MBA's associate vice president of economic and industry forecasting, said demand for loans to buy homes was also up. “We saw a good week for the spring home buying seasons, as a 5 percent increase in purchase applications – both weekly and year-over-year – drove the results,” Kan said. “Average loan amounts also stayed elevated, with government purchase applications rising to the highest in the survey. Even with slower price appreciation in higher-priced markets, home prices are still rising enough to push average loan sizes higher.”

With the good housing inventory in Eastern, NC, buyers are finding the home they were looking for and are finding prices to be with in reach. To see some of the inventory available for this area go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin.

The MBA's weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.

Americans value homeownership. It has long been seen as part of achieving the American dream and, when asked, large majorities of those who don't currently own a home say they'd like to one day. In short, buying a home is popular. But when thinking about whether or not now is the right time to do it, perceptions of the market can sway your decision. After all, nobody wants to buy at the wrong time. So what do Americans think about the housing market these days? Well, according to Fannie Mae's most recent Home Purchase Sentiment Index, they're feeling confident financially and see conditions improving over the next year. Doug Duncan, Fannie Mae's senior vice president and chief economist, says optimism fell in March but overall results were encouraging. “While home selling confidence remains strong and more consumers on net expect mortgage rates to decline over the next year, respondents walked back some of their buying optimism in March,” Duncan said. “Improving perceptions of income gains and a softening home price growth outlook should help support housing demand.” Buyers in Eastern, NC, have stayed optimistic with many new homes being built and prices staying with-in reach. Attitudes are good and buyers are out and finding the home they have been looking for and making loans. To see some of the inventory in this area go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.

After the housing crash, home prices and mortgage rates were low and the market was ripe for buyers. Americans who were in position to buy could be confident that they'd find a good deal. These days, things have changed. The market has largely rebounded and hopeful home shoppers have more concerns about affordability than they did even just a few years ago. Fortunately though, according to one recent report, most housing markets are still within reach. In fact, buyers earning the median income – which is typically quoted somewhere around $60,000 – can still afford a median-priced home in the majority of markets. Additionally, lower-middle class families are able to afford a median-priced home in 34 of the nation's largest metros. And while it's true that buying a home isn't as affordable as it once was, most housing markets have simply returned to their historical average, rather than having inflated beyond what's considered normal. In other words, despite the price recovery, the housing market remains a pretty good deal for buyers.

This is exactly what buyers in Eastern, NC are seeing. There is a very good inventory of homes in this area and that is helping to keep prices with in reach for many people. This area has had a very active spring in the housing market with many homes being sold. To see what is available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.

Naturally, home prices are important to home buyers. When they're high, you get less house for your money. And, if you're a buyer, you're most likely trying to get as good a deal as you can. That's why the most recent S&P/Case-Shiller Home Price Indices should be encouraging news. The Index – which is the leading measure of U.S. home prices – found that, on a month-over-month basis, prices are flat and, on an annual basis, the rate of increases has continued to slow. David M. Blitzer, managing director and chairman of the index committee at S&P Dow Jones Indices, says prices have been following a gradual trajectory. “The pace of increases for home prices continues to slow,” Blitzer said. “Homes began their climb in 2012 and accelerated until late 2013 when annual increases reached double digits. Subsequently, increases slowed until now when the National Index is up 4 percent in the last 12 months.” Buyers in Eastern, NC, are seeing prices moderate and stay at a place that is more affordable for many people. This area has continued to build many new homes and this has made it easier for more people to be able to get into the housing market. To see some of the homes available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin.  More here.

According to the popular Christmas song, the holidays are the most wonderful time of the year. But not if you're trying to sell a home. After all, winter is typically not the time home buyers go out shopping for a house. So what is the best time of the year if you're a homeowner with a house to sell? Well, according to a new analysis from ATTOM Data Solutions, spring and summer are the seasons when sellers see the biggest premiums. In fact, of the nine days of the year that sellers saw a premium of 10 percent or more, eight of them occurred during summer months. Todd Teta, chief product officer with ATTOM, says this is no surprise. “Since Summer is a time for vacations and outings, it's no surprise that it's also a time when people are most likely to move,” Teta said. “Families start their home search when they know their kids will be out of school and when the weather is ideal for home viewing and moving, giving home sellers an upper hand in price negotiations.” Specifically, May and June are the best months for selling a house, with homes sold in June selling for an average of 9.2 percent above estimated market value.

This has proved to be very true in Eastern, NC. The spring and summer months are going very strong with a lot of activity. This area also has many new homes helping buyers to find exactly what they are wanting. To see some of the homes available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell last week. They were down for 30-year fixed-rate loans with both conforming and jumbo balances, as well as mortgages backed by the Federal Housing Administration and 15-year fixed-rate loans. Joel Kan, MBA's associate vice president of economic and industry forecasting, said the decline was due to global economic conditions rather than conditions in the US. “Mortgage rates were lower last week, as concerns over global growth, particularly in Germany, outweighed more positive domestic news on first quarter GDP growth and business investment,” Kan said. But though interest rates fell, so did demand for mortgage applications. In fact, both refinance activity and demand for loans to buy homes fell from the week before.

This seems to be true in most places, but not so much in Eastern, NC. Mortgage rates did not have much of an impact on mortgage loans at all, with buyers still going out and finding the home they have been looking for. This area has continued to build many new homes, keeping prices moderate and within reach for a lot of people. To see some of the homes available in this area go to: https://www.firstcarolina.com/listings/

 Or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. The MBA's weekly survey has been conducted since 1990 and covers 75 percent of all retail residential mortgage applications. More here.

New numbers from the National Association of Realtors show signed contracts to buy homes increased 3.8 percent in March. The improvement follows a decline the month before and could be a sign that the market is turning a corner. Lawrence Yun, NAR's chief economist, says results have been fluid over the past few months but he expects sales activity will begin to climb. “We are seeing a positive sentiment from consumers about home buying, as mortgage applications have been steadily increasing and mortgage rates are extremely favorable,” Yun said. He also noted that pent-up demand, along with rising inventory, should lead to more home sales. “There is a pent-up demand in the market, and we should see a better performing market in the coming quarters and years,” he said. Also in the report, pending home sales – which refer to signed contracts, not closings – were up in the Midwest, South, and West. Only the Northeast saw declining activity in March.

Buyers in Eastern, NC are seeing a very good inventory of new homes and this has made for a very active and busy spring. With more homes on the market in this area, it has given buyers the power they have needed to be able to find and purchase the home they have been looking for. To see some of the homes available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.

When you have something to sell, half the battle is getting it in front of the people who'll want to buy it. No matter what you're selling – or how great it is – if no one knows it's for sale, you're not going to have much success. This, of course, is also true when you're trying to sell a house. Even in a seller's market, you're going to get the best results if your home is accessible to as many home shoppers as possible. Proof of this is found in a recent analysis that looked at homes listed last year to determine the effectiveness of open houses. The analysis found that homes that had an open house within their first week on the market sold for more money and in fewer days than homes that didn't have one at all. Of course, like everything else, the benefits of having an open house depended on location. And it's also true that, in a lot of cases, homes that had open houses were the ones that were already attractive to home buyers. But, in the end, it makes sense. Getting more buyers to your home increases your odds of selling it quickly and having multiple offers.

This is certainly being seen in Eastern, NC. This area is very good about having “open houses” and it does seem to pay off. There is a good inventory of homes in this area but these homes are shown often and sell quickly. To see what is available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.