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We’re Still Celebrating!!
With over $7,000,000 in Sales ~
over 60 properties Sold in 2008
and we look forward to a better market outlook for 2009!
Rates have never been lower and inventory never better…
Now’s the Time!
Wishing you health, happiness and prosperity in 2009!
Call your Full Time Real Estate Professionals Today!
www.NaylorRealty.com
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Hello to All!
Hope you are off to a great start for 2009 –
I have had a few computer problems but it could be worse …
I could NOT have a computer! So, it is OK!
North Carolina real estate market is not as vibrant and active
as many of us would like for it to be but it is still MUCH better
than many states around the country.
In an effort to help set the record straight, the
NC Association of REALTORS has compiled this list of
information. Take a moment to read the info below
for some interesting facts, talking points for your next
dinner party! Interesting …
FORECLOSURE FACTS
¨ In November, North Carolina reported a 30 percent decrease in foreclosures compared to November 2007 as well as a 13 percent decrease compared to October (2008).
¨ N.C. recently ranked in the lower half of the states (31st) in a national ranking of foreclosure rates.
¨ North Carolina’s state-chartered banks are better equipped than their national peers to handle loan losses, according to the Federal Deposit Insurance Corporation (FDIC). Collectively, the banks’ reserves for loan losses equal 87.6 percent of noncurrent loans and leases.
ECONOMY
¨ North Carolina’s population rose 2 percent during the past year, making it the nation’s fourth fastest growing state in 2008.
¨ Three of the five best-performing real estate markets in the nation for the first three quarters of 2008 were in North Carolina, according to Zillow. Those markets were Jacksonville, Winston-Salem and Burlington.
¨ The UNC Charlotte Carolina Economic Forecast has predicted growth should begin in the second quarter of 2009, with the gross state product in the quarter advancing by 1.4 percent.
HOMEOWNERSHIP
¨ The National Association of REALTORS® (NAR) has estimated that a one-percentage point decrease in mortgage rates will increase home sales by more than 500,000 homes. As of the first of the year, mortgage rates were at a 50-year low!
¨ The average price of a home, comparing November 2008 to November 2000, has increased 17 percent.
¨ The coastal city of Wilmington was named among the top six markets in the nation to show the most positive net home values in the past five years.
¨ NAR’s affordability index jumped to 131 at the end of 2008, up 17 percent from 2007 figures. The index indicates that households earning the national median income have 131 percent of the income needed to buy the national median-priced house!
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