Where and how you live has a lot to do with your job and money. After all, if money were no issue, you'd likely have a far different list of priorities when it came time to buy a house. But since most of us have to stick to a budget, we choose what type of house to look for and in which neighborhood based on our financial situation. That's why it's not surprising that a recent report on where millennials want to move found that the most popular areas for younger home buyers are those that offer good jobs and affordable homes. Naturally, these aren't just priorities for millennials, as older buyers also want to live somewhere close to work that won't break the bank. But because younger home shoppers are at the beginning of their careers and are often first-time home buyers, who have to come up with a down payment from scratch, this is especially true. That's why the list of most popular areas for millennial buyers is made up of metro areas that have lower rates of unemployment, higher wages, and more homes in entry-level price ranges.

For buyers in Eastern, NC, they are finding that the area they live in and work in, is probably exactly where they are wanting to be and where they will find their home. That is because this area has continued to build many new homes and has many homes to offer in many styles and price ranges so that many people can afford to find the home that fits their lifestyle. 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. More here.

Choosing a house to buy takes a little bit of vision. After all, it's easy to know what you want in a home today, but more difficult to know for sure what you'll want years from now. Things change and your life will undoubtedly take some unexpected twists and turns. But just how long should you expect to live in the house you buy? Well, according to ATTOM Data Solutions' Q1 2019 U.S. Home Sales Report, homeowners who sold in the first quarter of this year had lived in their home an average of 8.05 years. For comparison, that's close to double what it was prior to the housing crash, when homeownership tenure averaged 4.21 years. In short, you're likely going to spend close to a decade in the house you buy. That means, home buyers need to be thinking of, not only what they need from a house today, but also what they hope and plan for over the next several years. It is being noticed that in Eastern, NC, the average stay in a home is about ten years. For some folks that are in the military the time can be a lot less but for the most part ten years is the average. This area keeps a good selection of homes to choose from and there is usually something on the market for most buyers. 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 increased last week across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. The increase continues an upward trend that has caused some hesitation among borrowers, especially those looking to refinance. Michael Fratantoni, MBA's senior vice president and chief economist, says rates have risen over the past three weeks due to fewer geopolitical concerns and a stronger U.S. economy. “Borrowing costs have recently drifted higher because of ebbing geopolitical concerns, as well as signs of strengthening in the U.S. economy, including the recent data pointing to robust retail sales,” Fratantoni said. “The strong economy and job market is keeping buyer interest high, but rising mortgage rates could add pressure to the budgets of some would-be buyers.” Still, though rates are up from where they were a few weeks ago, they remain low by historical standards and even from where they were at the end of last year.

Eastern, NC is one area that has not felt much of a pinch with rising interest rates. This area has continued to build many new homes and there is such a strong job market here, that buyers have stayed out and are finding the home they have been looking for. 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 home sales increased 4.5 percent in March, beating economists' expectations and hitting a 16-month high. The data, from the U.S. Census Bureau and the Department of Housing and Urban Development, is more evidence that home buying conditions are becoming more favorable just as buyer demand heats up for the season. The combination of a strong job market and low mortgage rates is encouraging buyers and helping steady a housing market that went through its ups-and-downs last year. And, since new-home sales gains build confidence in the market, three consecutive months of improvement may help spur builders to build even more new homes. As it is, growing inventory has led to a 9.7 percent drop in the median sales price of a new house, according to the March report. Overall, the latest new home sales data is encouraging, as the market for newly built homes plays a vital role in balancing supply and demand and keeping affordability conditions manageable for buyers.

The home inventory in Eastern, NC has continued to be very good, offering many homes in different price ranges, helping to make it easier for more buyers to be able to get into the housing market. This area also has a strong job market and this is helping to boost sales. 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. More here.

The spring home sales season is underway and there's no better proof than new numbers from the National Association of Realtors. According to their most recent existing home sales report, 47 percent of homes sold in March were on the market for less than a month. Additionally, the average number of days properties remained on the market was 36 days, down from 44 days the month before. That's a significant drop and evidence that buyer demand is heating up and homes are selling more quickly. But, despite the fact that homes are selling faster, the overall sales numbers were down from February. Lawrence Yun, NAR's chief economist, says that's to be expected after the previous month's sales surge. “It is not surprising to see a retreat after a powerful sales surge in the prior month,” Yun said. “Still, current sales activity is underperforming in relation to the strength in the job market. The impact of lower mortgage rates has not yet been fully realized.” In other words, though buyer demand may be increasing and homes are selling quickly, the market should be doing even better. One reason it's not is low inventory. However, that may be changing. In fact, the number of homes available for sale in March was up 2.4 percent from last year.

One area that is not experiencing many ups and downs with the housing market is in Eastern, NC. This area has continued to build many new homes in different sizes, styles and price ranges, giving most anyone that is looking a home, one to buy and one that meets most of the features they are looking for in a home. 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.  More here.

When it comes time to decide what type of home you want to buy, there's a lot to go over. Beyond even the financial considerations, prospective home buyers have to make choices about the style of house, the size, number of rooms, the yard, storage, etc. Then they have to prioritize their wants and needs based on just how important they are and whether any of them are dealbreakers. Because there are so many factors, it's no small thing when a sizable share of home buyers express an interest in the same feature. That's why it's significant that a recent survey of Realtors conducted by the National Association of Realtors found that 70 percent of participants said promoting energy efficiency in a home's listing was somewhat or very valuable. In short, it means a lot of buyers agree that green and energy-efficient features are important to them. It's no surprise why. Beyond the benefits to the environment or sustainability, energy efficiency means lower utility bills. And there are few home buyers who won't like the sound of that.

For the most part, many, if not most, of the homes being built in Eastern, NC are “green homes”, offering many of the green features. This has made this a very popular area to have a home in and has brought buyers out. These homes are being built in many different sizes and styles as well as different price ranges giving something for almost everyone. 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. More here.

Fannie Mae's Economic and Strategic Research Group releases a monthly forecast detailing what lies ahead for the economy and housing market. And though their most recent release says the overall economy will slow this year, their outlook for the housing market is encouraging for potential home buyers and sellers. That's because the group sees stability ahead. Doug Duncan, Fannie Mae's chief economist, says there are a number of factors that should make market conditions more favorable this year. “On housing, the recent dip in mortgage rates to their lowest level in over a year – combined with wage gains and home price deceleration – supports our contention that home sales will stabilize in 2019,” Duncan said. “The greatest impediment to both sales and affordability continues to be on the supply side, as new inventory, particularly among existing homes, is being met quickly by strong demand – as evidenced by the already thin months' supply hitting a new one-year low.” In other words, conditions will be less volatile than they were last year but ultimately depend on how many homes are available for sale. If new home construction and listings can keep up with demand, it'll help keep prices steady and the market manageable for buyers.

For buyers in Eastern, NC, there is a good inventory with many new homes being built. There are also existing homes on the market which is helping with the inventory and with home prices. To see what is 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. More here.

According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates rose last week but the increase didn't stop home buyers. In fact, demand for purchase loan applications rose 1 percent and reached their highest level in 9 years. Requests for loans to buy homes are now 7 percent higher than at the same time last year. Despite the improvement, however, overall mortgage application demand was down from the week before, as refinance activity was slowed by higher rates. Joel Kan, MBA's associate vice president of economic and industry forecasting, said the decline is no surprise. “With mortgage rates up for the second week in a row, it's no surprise that refinancings slid 8 percent, and average loan sizes dropped back closer to normal levels,” Kan said. “Purchase activity remained strong and increased slightly, reaching its highest level since 2010. The spring buying season continues to be robust.”

Another area that is seeing a lot of activity is in Eastern, NC. 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 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.

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Home builders are on the frontline of the housing market. Their business depends on knowing what buyers want and when they want it. That's why the National Association of Home Builders tracks builder confidence in the market for newly built homes. When builders are optimistic about buyer demand, they build more homes, which helps balance the market and makes conditions better for all home buyers. The results of the NAHB's most recent survey shows builders are confident in the market and reporting solid demand. In fact, on a scale where any number above 50 indicates more builders view conditions as good than poor, April's Housing Market Index scored a 63. But, despite the strong showing, Robert Dietz, NAHB's chief economist, says a shortage of construction workers and buildable lots is causing housing costs to rise. “Ongoing job growth, favorable demographics, and a low-interest rate environment will help to modestly spark sales growth in the near term,” Dietz said. “However, supply-side headwinds that are putting upward pressure on housing costs will limit more robust growth in the housing market.”

For buyers in Eastern, NC, they are finding that the supply of homes is very good with many new homes being built and there also existing homes on the market to help ease the pain of not enough homes. With a good inventory like there is, home prices are staying moderate and many people are out and buying homes. To see some of the homes available in Eastern, NC go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/?notif_t=page_admin. More here.

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In a perfect world, we'd all be able to buy a home that fulfills our wish list, is in great condition, and already has our preferred fixtures, features, and finishes. Of course, that isn't the way things work. Buying a house requires compromise and, in some cases, a good strategy for how to fix the things you don't like about a home you're otherwise crazy about. Fortunately, if recent data is any indication, today's home shoppers understand this and are realistic about their chances of finding the perfect home. For example, according to a new survey, nearly 60 percent of respondents said they'd consider a home that needs renovating and would be willing to spend more than $20,000 to get the job done. There are a number of reasons for the increasing number of home shoppers looking for a fixer-upper. For one, the limited number of entry-level homes for sale means buyers have to consider homes they may not have if they had more options. But beyond that, the popularity of home renovation TV shows and the fact that those who are considering a fixer-upper believe they'll see a return on their investment also contribute to buyers' willingness to take on a project.

One area that is seeing buyers looking to buy an older home and do repairs or buy a home that is perfect except for a few minor repairs is in Eastern, NC. Buyers in this area have a very good selection of new and existing homes to choose from, with moderate pricing and many styles and sizes so whatever they find that fits most of their needs is usually an easy fix to make it almost a perfect home. 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. More here.

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