My New Blog

Hope everyone had a fun and safe Halloween!

On an upnote, sales are up 27% this September from 2009. The average sold price is also up from 280,000 in Sept 2009 to 360,000 in Sept. 2010.

Distressed properties ( foreclosures and short sales ) accounted for 48% of the sales in September with 42% foreclosures.  Short sales are still somewhat difficult and much closer to market price than foreclosures. Inventory has come down from 2419 in 2009 to 2191 at present - down 14% from last year.

Lending is still tight and condo money very difficult but seems to b getting a little better. Primary home owners have great deals available including USDA loans available at 103% and FHA loans with just 3% down still.

Jumbo loans ( over 417,000 in Dare County ) are available at 5% with no origination fee. There are some great renovation loan products out there too for that house that me not be what you want but in a great location.

Please don't hesitate to contact me for some lender names or questions.

Have a great week!

Carol