Saving for a down payment is often a big hurdle for buyers, especially those purchasing their first home. Without the benefit of equity from a previous home's sale, first-time home buyers have to come up with the money from scratch. That can be difficult, especially if they live in an area where there are fewer homes available in an affordable price range. So, if you're thinking of buying a home in the near future, how much should you expect to need? Well, one recent analysis looked at down payments by state and found that the nationwide average was $28,000 – though there was a pretty wide range depending on location. For example, West Virginia had an average down payment of just over $15,000, while New York came in at $43,404. Other states, including Florida, Texas, North Carolina, Nevada, and Illinois, were within a few thousand of the national average. Wherever you're buying, though, you will have options depending on the particular terms of the loan type you've chosen. Which means, averages are good for getting a ballpark idea of what other buyers are putting down but may not reflect the actual amount required when it comes time to sign the paperwork.

Buyers in Eastern, NC, are finding that there are many options for down payments when buying a home. There are also home incentives being offered with new homes. With these down payment options in place, it has given many people a way to get into the housing market. To see some of the homes that are 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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Choosing a home to buy is a pretty big decision. For the amount of money and time you'll end up investing, it wouldn't be smart to make it a hasty one. But depending on how competitive your market is, you also can't spend too much time deliberating over a particular property. So what's a normal amount of time to expect to be searching for the right home to buy? Well, according to new numbers from the National Association of Home Builders, 58 percent of buyers who were actively looking for a home to buy during the fourth quarter of last year said they'd been searching for three or more months. The reasons they said they'd been looking that long were fairly evenly split between those that were having trouble finding an affordable home and those that said they couldn't find any homes that had their desired list of features. But buyers weren't discouraged. In fact, the vast majority said they planned to continue looking in the neighborhoods they'd been searching, while 44 percent said they'd expand their search area to better their chances.

Buyers in Eastern, NC, are finding homes much easier and faster than in a lot of other areas. This area has continued to build many new homes in different sizes and prices ranges, reaching out to most people. There is also a good home market for existing homes in this area. This, along with all the features this area has to offer has made for a very popular area to buy a home in. 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.

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Buying a home means making an investment in the real estate market. And, while it may not be your main motivation for buying, the chance that you'll see a return on that investment is undoubtedly a good thing. It's among the reasons that homeownership has retained its appeal over the years. It's also why new numbers from ATTOM Data Solutions are encouraging. Their Year-End 2018 U.S. Home Equity & Underwater Report shows that in the fourth quarter of last year more than 14.5 million properties were considered equity rich – which means the loans used to purchase the property are 50 percent or less than the estimated value. In short, an increasing number of American homeowners are seeing their investment grow. Todd Teta, ATTOM's chief product officer, says – in addition to increasing values – homeowners are seeing their equity grow because they're staying in their homes longer. “With homeowners staying put longer, homeownership equity will most likely continue to strengthen,” Teta said. The rise of equity rich homeowners also coincides with a dramatic decline in the number of seriously underwater properties, which have dropped from nearly 30 percent in 2012 to just 8.8 percent at the end of last year.

For those looking to get into the home market, Eastern, NC is proving to be a very good place to start looking. Weather you are looking at retirement or a place to call home, this area has it all. There are many new homes on the market as well as existing homes that are all priced in a range to fit almost anyone’s income. To see what is available in the 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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Last year's housing market had its challenges. Though there was plenty of interest from home buyers, too few homes for sale, rising interest rates, and high prices dampened some of the enthusiasm. Now, according to the most recent Home Purchase Sentiment Index from Fannie Mae, Americans may be feeling more optimistic about their options. That's because, in addition to an 8 percent increase in the number of respondents who say their income is substantially higher than it was at the same time last year, there are also a declining number who feel home prices and mortgage rates will keep rising. In short, consumers feel more confident in their money and see affordability conditions starting to improve. Doug Duncan, Fannie Mae's senior vice president and chief economist, says the boosted optimism and more favorable conditions may help home sales this year. “Overall, these results are in line with our forecast that, amid improving affordability conditions, home sales should stabilize in 2019 after declining last year for the first time in four years.”

Buyers in Eastern, NC, are finding a good inventory of homes and with this has come prices moderating and getting more affordable for many people. This area has a good job market and this along with a good selection of homes, has made this a very popular area to find a home in. 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.

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According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates fell sharply 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. But though rates were more favorable, requests for mortgage loan applications still fell. In fact, overall demand was down 2.5 percent from the previous week. Joel Kan, MBA's associate vice president of industry surveys and forecasts, says, though demand for loans to buy homes dropped, the outlook remains good. “Despite more favorable borrowing costs, and after a three-week surge in activity, purchase applications have slowed over the past two weeks, and are now almost 2 percent lower than a year ago,” Kan said. “However, moderating price gains and the strong job market, including evidence of faster wage growth, should help purchase growth going forward.”

For buyers in Eastern, NC, the job market is strong and many new homes are being built making for a good inventory of homes, which is helping to keep prices moderate and within reach for many 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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Fannie Mae's quarterly Mortgage Lender Sentiment Survey asks senior mortgage executives for their perceptions of the market and forecast for the future. According to the most recent release, lenders point to an “insufficient supply of homes available for sale” as the primary reason for slow home sales growth last year. In fact, 48 percent of responding lenders said that too few homes for sale held buyers back, while rising interest rates and higher prices were also commonly cited factors. Similarly, when asked for suggestions for what could be done to improve affordability in the months ahead, increasing the housing stock led the list. In short, mortgage execs see low inventory as the market's biggest issue. This isn't a surprise. The fact that there's been a lower-than-typical number of homes for sale has been pushing home prices upward and keeping competition for affordable homes high. The good news, however, is that recent data shows inventory has been rising and, if the trend continues, it could help provide some relief to buyers this year.  This trend has continued in Eastern, NC where buyers are finding a very selection of new homes. Many new homes have been built in this area giving something for almost everyone. Also with such a good selection of homes available, prices have moderated and loans are being made. To see some of the homes available got 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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Fannie Mae's quarterly Mortgage Lender Sentiment Survey asks senior mortgage executives for their perceptions of the market and forecast for the future. According to the most recent release, lenders point to an “insufficient supply of homes available for sale” as the primary reason for slow home sales growth last year. In fact, 48 percent of responding lenders said that too few homes for sale held buyers back, while rising interest rates and higher prices were also commonly cited factors. Similarly, when asked for suggestions for what could be done to improve affordability in the months ahead, increasing the housing stock led the list. In short, mortgage execs see low inventory as the market's biggest issue. This isn't a surprise. The fact that there's been a lower-than-typical number of homes for sale has been pushing home prices upward and keeping competition for affordable homes high. The good news, however, is that recent data shows inventory has been rising and, if the trend continues, it could help provide some relief to buyers this year. For buyers in Eastern, NC, the housing market has remained very good with many new homes available as well as some existing homes. This has really helped with keeping pricing moderate. To see some of the beautiful 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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Potential spring home buyers may find that they've regained some negotiating power when they head out to shop for a house to buy. That's because, after a few years where sellers held all the cards, buyers are beginning to see conditions shift in a more favorable direction. For example, new data shows that the number of home buyers who paid above asking price in December saw its biggest month-over-month decline in six years. In fact, just 19 percent of homes sold during the month went for a price above what their owner had it listed for. That's a five percent decline from its peak in May of last year. Simply put, continued home price increases have motivated more homeowners to put their homes up for sale. And, as the number of homes for sale has risen, it's reduced the amount of competition among buyers. But, while competition may have begun to slow down, it isn't quite a buyer's market just yet. So, if you're looking to buy a home in the months ahead, you should still be prepared, prequalified, and ready to move fast. Good homes will be in high demand, even if the competition isn't quite as heavy as it has been in years past. Buyers in all areas have some challenges but buyers in Eastern, NC, are finding that home inventory is good with many new homes are being built as well as existing homes being put on the market. This inventory has made it much easier to find the perfect home and it has helped to keep home prices moderate. 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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The National Association of Realtors' Pending Home Sales Index measures the number of contracts signed to buy homes during a given month. Since it measures signings, and not closings, it can be an important indicator of future home sales. In December, the index fell 2.2 percent from the month before. But, Lawrence Yun, NAR's chief economist, sees some encouraging signs amid the end-of-the-year slowdown. “The longer-term growth potential is high,” Yun says. “The Federal Reserve announced a change in its stance on monetary policy. Rather than four rate hikes, there will likely be only one increase or even no increase at all. This has already spurred a noticeable fall in the 30-year, fixed-rate for mortgages. As a result, the forecast for home transactions has greatly improved.” In addition to good news about rates, there is also an increasing number of homes for sale. And, since more available inventory helps keep prices down, that's good for home buyers. Cities in the West saw the largest increase in active listings year-over-year, with Denver-Aurora-Lakewood, Seattle-Tacoma-Bellevue, San Francisco-Oakland-Hayward, San Diego-Carlsbad, and Portland-Vancouver-Hillsboro seeing the biggest improvements compared to the year before. Another area that saw a lot of activity and sold a lot of homes was Eastern, NC. This has become a very popular area to buy a home in, with a good job market, good home inventory and many activities. 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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According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates increased last week from the week before. Rates were up for 30-year fixed-rate mortgages with both conforming and jumbo balances, as well as 15-year fixed-rate loans. Mortgage rates on loans backed by the Federal Housing Administration declined. Joel Kan, MBA's vice president of industry surveys and forecasts, says the increase caused application demand to dip, though overall interest remains high. “Mortgage applications for purchase and refinances were lower over the past week, as rates nudged higher,” Kan said. “After two weeks of decreases, the purchase index still remained roughly 6 percent above its long-run average, which is good news with spring buying and selling season almost underway. Despite ongoing supply and affordability constraints, the healthy job market and underlying demographic fundamentals both point to gradual purchase growth in the coming months.” In other words, though the market still has some challenges, Americans feel secure financially and are interested in buying. That indicates a busy spring for the housing market. Areas that are continuing to build new homes, such as in Eastern, NC, are really seeing the benefits associated with the lower than normal rates. Eastern, NC has become a very popular place to live with such a good housing inventory and with home prices staying moderate. 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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