While it is true that home sales have decreased in our area, we are not as dramatically hit as the rest of the country seems to be, at least in moderate price ranges. This chart, compiled by New Bern MLS data, shows that homes less than $250k are selling. More homes in this price range sold last year than are currently listed. This takes a 12 month period into account (not a true absorption figure according to some experts) but it is a good measure of what is available and what is in demand.
Why are we still selling homes in our area? One reason is the influx of military personnel to our Marine Base in Havelock: Cherry Point Marine Air Station. Many of the pilots and crew are first time buyers and have no house to sell. They are still one of the only groups that can get 100% financing through the VA.
How is this valuable and to whom? As a builder, I would build spec homes under $250k and choose an area convenient to the MCAS. As a buyer, I would know which homes would, most likely, be more negotiable and as a seller, I would how much competition I have and how it is affected.
Marcia Werneke
No comments:
Post a Comment