The coronavirus hasn't just changed the way we shop for homes. It's also changed where we shop for homes. In fact, according to new data from one consumer real estate portal, prospective home buyers have been showing increasing interest in moving away from city centers and into less densely populated areas. For example, views of homes in small towns were up 105 percent year-over-year during the week ending May 1. In rural counties, page views climbed 76 percent. The surge in interest is even more impressive when compared to the significantly smaller 16 percent increase in views for homes in urban areas with populations of more than 1 million people. This can be partly explained by concern over the virus, though another explanation would be that an increasing number of Americans are now primarily working from home and free to move further from the office. But will this trend continue? Well, it's hard to say but interest in rural counties, while still surging, was far higher in April, when views spiked 170 percent year-over-year. (source)

The interest in small towns is partly why Eastern, NC has become such a popular area to live in. This area has many small coastal towns and with the military bases and good job market, it has become a good place to buy a home in. There are many new homes in this area and that has kept prices down making it possible for more people to be able to afford a home. 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.

Naturally, the coronavirus and efforts to slow its spread have affected the housing market. Early on, surveys showed home sellers were more pessimistic about conditions than buyers were. As a result, the number of homes for sale took a hit, as homeowners who had planned to sell this spring delayed their plans and took a wait-and-see attitude. But new data from the National Association of Realtors' consumer website shows that the number of new listings is starting to improve. While still far below last year's levels, the volume of newly listed properties has gone from being down 43 percent at the end of April to being 29 percent below year-before levels as of last week. At this point, more than two thirds of large metropolitan areas have improved. That improvement offers hope that more gains could be on the horizon. Danielle Hale, chief economist for the site, says it's a positive sign, though there's still a long way to go. “While new listings are still declining on a yearly basis, last week's jump shows some sellers are ready for a summer home sale – a positive sign for the market,” Hale said. “But despite this uptick, time on market continues to increase and there's a long road ahead to getting back to last year's pace of new sellers.” (source)

Buyers in Eastern, NC are finding that many new homes have been built offering most of the latest features and sellers are beginning to put houses on the market also, giving buyers a good choice of homes. This has help to moderate pricing as well. 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.

According to the Mortgage Bankers Association's Weekly Applications Survey, applications for loans to buy homes rose 11 percent last week. The improvement puts demand for purchase loans just 10 percent below where it was last year at the same time. Last month, it was down as much as 35 percent. Joel Kan, MBA's associate vice president of economic and industry forecasting, says the gains are expected to continue as states lift some of their coronavirus mitigation measures. “There continues to be a stark recovery in purchase applications, as most large states saw increases in activity last week,” Kan said. “We expect this positive purchase trend to continue – at varying rates across the country – as states gradually loosen social distancing measures, and some of the pent-up demand for housing returns, in what is typically the final weeks of the spring home buying season.” Also in the report, average mortgage rates remain near record lows, though there was a small increase in rates for 30-year fixed-rate mortgages with conforming loan balances. The MBA's weekly survey covers 75 percent of all retail residential mortgage applications. (source)

In areas of Eastern,NC, the housing market continued to climb and stay very busy with buyers. Like other places where some of the restrictions have been lifted some with the coronavirus, Eastern, NC began to thrive again and to sell homes. 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.

Everyone knows you shouldn't judge a book by its cover. But while that's definitely true for books, it isn't necessarily the case for homes. The outside of a house can tell a prospective home buyer a lot about how well a house has been maintained. That's why, the Appraisal Institute recommends homeowners improve their home's exterior and landscaping, if they want to increase its value. “A home with lackluster landscaping or an exterior in desperate need of a fresh coat of paint will likely be unappealing to prospective buyers and ultimately could affect the home's potential resale value,” Jefferson L. Sherman, president of the Appraisal Institute, says. The institute recommends removing weak, old, or damaged trees, keeping landscape design in line with comparable properties in the area, and taking care of your lawn. And, since the National Association of Realtors says standard lawn care services recover 267 percent of their cost at resale, there's no excuse not to. Other landscape maintenance projects that recoup all, or most, of their cost include tree care and irrigation system installation. (source)

Most new homes being built in eastern, NC have beautiful landscaping already done when the buyers get them. This is very helpful and appealing for buyers. The agents at First Carolina Realtors also advise their sellers to do landscaping and any other exterior work that may need to be done so that a buyer doesn’t have to look past obvious misgivings and know that right from the start something will have to be done. This is very helpful in selling the existing homes and it helps the buyer and seller alike. 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.

When considering where to live, there are some factors that are based on your specific preferences and others that are universal. For example, we may not all agree on the style of house we'd like but we all value our privacy. Security is another thing we can all agree on. Nobody wants to live somewhere where they don't feel safe. That's why, a new survey from Allegion is an eye opener. The survey, which asked millennials about their living situation, expectations for the future, and their sense of security found that the vast majority of them say they don't feel safe at home. In fact, 74 percent of respondents said they don't feel secure. That's a surprisingly high number. However, some of that is due to the fact that millennials are younger and more likely to live in apartment buildings, where they have less control over their security. But other issues like package thieves – which nearly 40 percent of millennials say they've been a victim of – aren't specific to multifamily living. Fortunately, technological advances such as smart security systems and video doorbells continue to offer us new ways of securing our homes and keeping our families safe. (source)

Buyers in Eastern, NC are finding that most of the new homes that are being built in this area have security systems of sort in them. This is a good selling point for sellers that have spent the money to install a security system.  Most buyers now are looking for this feature in a home, especially those with small kids or if everyone is going to be away from the home all day most days. 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.

Approximately one in four of the 54.7 million mortgaged homes in the United States was considered equity rich in the first quarter of 2020, according to new numbers from ATTOM Data Solutions. Equity rich refers to when the amount owed on a property is 50 percent or less of the property's value. Conversely, just one in 15 homes was considered seriously underwater. Todd Teta, chief product officer with ATTOM, said while homeowners were in a strong position at the beginning of the year, the coronavirus could potentially affect their standing as time goes on. “In the latest marker of the ongoing housing market boom, mortgage payers were four times as likely to have homes worth considerably more than what they owed on their loans than considerably less,” Teta said. “But as with other rosy first-quarter reports, this one needs to be taken in the context of the looming impact of the coronavirus pandemic. With the potential for home values to fall, there is a significant chance that equity levels could drop over the coming months while underwater levels rise.” Still, the combination of low for-sale inventory and pent-up buyer demand suggests home prices will remain firm and any declines will be moderate. (source)

The coronavirus has impacted the whole country in so many ways, but in Eastern, NC, the housing market is one of the things that was not impacted as badly as some things were. This area had a good inventory of homes before the country shut down, and buyers were interested in getting a home. This has not changed in this area. With the help of the agents at First Carolina Realtors, and with technology, buyers and sellers have been able to have access to homes and loans. 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.

Fannie Mae's most-recent Home Purchase Sentiment Index found Americans aren't expecting big changes ahead for home prices and mortgage rates. The survey – which measures perceptions of the housing market and Americans' financial health – revealed that housing sentiment has fallen but, despite rising pessimism, consumers don't foresee significant changes to affordability factors in the coming year. In fact, survey results show 36 percent of respondents think home prices will stay the same over the next year, compared to 23 percent who say they expect an increase and 34 percent who expect prices to fall. Among those expecting a drop, the average predicted price decline was 2 percent. Similarly, 35 percent of participants said mortgage rates will stay the same, while 33 percent expect a decline and 23 percent see rates rising. Doug Duncan, Fannie Mae's senior vice president and chief economist, said rates remain a source of optimism. “While consumers did grow more pessimistic in April about whether it's a good time to buy a home, low mortgage rates remain a driver of purchase optimism,” Duncan said. “We expect that the much steeper decline in selling sentiment relative to buying sentiment will soften downward pressure on home prices.” (source)

Buyers in Eastern, NC are staying busy with the housing market. This area has a good inventory of homes and that has helped to keep prices down.  Buyers are also using their agents at First Carolina Realtors to help with all the necessary steps in buying a home using new sources because of the Coronavirus. To see some of the homes available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/.

According to the Mortgage Bankers Association's Weekly Applications Survey, demand for loans to buy homes rose for the third consecutive week last week, climbing 6 percent from one week earlier. It's yet another sign that – though the coronavirus has slowed home sales – there is still significant pent-up home-buyer demand. Mike Fratantoni, MBA's senior vice president and chief economist, says activity is picking up as states loosen their stay-at-home orders. “Purchase volume increased for the third week in a row, led by strong growth in Arizona, Texas, and California,” Fratantoni said. “Although purchase activity remains almost 19 percent below year-ago levels, this annualized deficit has decreased as more states reopen amidst the apparent, pent-up demand for home buying.” Also in the report, average mortgage were down week-over-week and are now at new survey lows. Rates fell for 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans.

Buyers in Eastern, NC are beginning to move around more and more and are talking with their agents at First Carolina Realtors, to get the help they need in finding the home they have been dreaming of getting and in securing their loan and getting all the necessary steps done. There is a good inventory of homes in this area and this is keeping prices down and buyers busy. To see what is available go to: https://www.firstcarolina.com/listings/ or join social media at: https://www.facebook.com/fcrhavelock/

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

Everybody knows location is important in real estate. But, if you've got a home to sell, when you do it makes a difference too. And while experts will tell you that trying to time the market is a mistake, there are certain times of year that are undeniably better for home sellers than others. For example, ATTOM Data Solutions has released a new analysis that pinpoints the time of year when sellers get the highest premium for their homes. The results show home sellers that list their homes in May, June, or July see a seller premium between 7 and 10 percent. Todd Teta, ATTOM's chief product officer, says late spring and early summer are always peak months – though this year may be different. “Timing the housing market is far from an exact science,” Teta said. “But home sellers who want to get the highest price should aim to complete their deals during the peak house-hunting season in late spring or early summer, when the most potential buyers are out looking. This year could be a striking exception if many potential home buyers stay home because of coronavirus social distancing or worries about job security.” The analysis found that 20 of the best days of the year for home sellers were in May and June, with June 21, 22, and 29 in a three-way tie for highest seller premium at 10.5 percent. (source)

With this information at hand, now is the time that sellers in Eastern, NC are putting their houses up for sale and it makes for an advantage where buyers are concerned since it gives extra inventory. To see 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/.

The impact of coronavirus mitigation efforts becomes more clear as March home sales numbers are released. Both new and existing home sales declined after stay-at-home orders were put into place mid month. Now, the National Association of Realtors' Pending Home Sales Index shows that the number of contracts to buy homes also suffered significant declines. In fact, pending sales – which refer to contract signings, not closings – were down 20.8 percent month-over-month in March. Lawrence Yun, NAR's chief economist, says falling sales are a temporary problem. “The housing market is temporarily grappling with the coronavirus-induced shutdown, which pulled down new listings and new contracts,” Yun said. “As consumers become more accustomed to social-distancing protocols, and with the economy slowly and safely reopening, listings and buying activity will resume, especially given the record low mortgage rates.” He may be right. Surveys taken over the past few weeks have shown increasing interest among Americans hoping to buy and sell homes. They've also shown prospective buyers and sellers have a willingness to adapt to necessary changes to the typical buying process. (source)

Buyers and Sellers in Eastern, NC are adapting very good to the new protocols put in place with the Coronavirus and are working with agents, like the ones at First Carolina Realtors, and seeing homes and purchasing or putting their home on the market. These new challenges have been tough but with the help of an agent, all the necessary steps can be taken and the process can be done. 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/.