Articles Tagged "First home"

SHALLOTTE, N.C. - Brunswick County Association of REALTORS®

Brunswick County's residential real estate market exceeded $2 billion in year-to-date total sales in October with luxury sales leading the way, and more than half of all homes sold during October were sold at or above list price.

"While $2 billion in total sales seemed like an unreachable milestone just a couple of years ago, it doesn't come as a shock this year given our market's consistently strong performance month over month," said Cynthia Walsh, BCAR CEO. "Overall demand remains strong, prices continue to increase, and we continue to see a strong luxury market. Overall, our market is positioned for continued strength as we move into winter."

Brunswick County saw $211,520,000 in total sales volume in October, a 0.5% increase from last year's $210,450,000. The average sales price increased 9.3%, from $432,131 to $472,150. New listings were down 24.4%, from 622 to 470. The number of units sold in October dropped 8% compared to last year, from 487 to 448, and homes spent an average of 33 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, remains at two months. Brunswick County's luxury market was strong in October with 24 sales in excess of $1 million, including three sales over $2 million and a 3.4 million sale in Ocean Isle Beach.

Year-to-date sales volume through October is $2,168,330,000, down 3.9% from $2,255,559,429 last year. Average sales prices for the year are 11.9% higher than 2021, increasing from $393,703 to $440,574. The number of units sold through October is down 16.9%, from 5,723 to 4,756, and the number of new listings is down 11.3%, from 6,316 to 5,602.

Brunswick County

• New Listings
  • October 2022: 470
  • October 2021: 622
  • Increase/Decrease: -24.4%
• Units Sold
  • October 2022: 448
  • October 2021: 487
  • Increase/Decrease: -8%
• Average Sales Price
  • October 2022: $472,150
  • October 2021: $432,131
  • Increase/Decrease: +9.3%
• Median Sales Price
  • October 2022: $425,000
  • October 2021: $343,168
  • Increase/Decrease: +23.8%
• Total Sales Volume
  • October 2022: $211,520,000
  • October 2021: $210,450,000
  • Increase/Decrease: +0.5%

Bladen County

• New Listings
  • October 2022: 20
  • October 2021: 9
  • Increase/Decrease: +122.2%
• Units Sold
  • October 2022: 12
  • October 2021: 18
  • Increase/Decrease: -33.3%
• Average Sales Price
  • October 2022: $192,408
  • October 2021: $188,289
  • Increase/Decrease: +2.2%
• Total Sales Volume
  • October 2022: $2,310,000
  • October 2021: $3,390,000
  • Increase/Decrease: -31.9%

Columbus County

• New Listings
  • October 2022: 31
  • October 2021: 37
  • Increase/Decrease: -16.2%
• Units Sold
  • October 2022: 29
  • October 2021: 29
  • Increase/Decrease: 0%
• Average Sales Price
  • October 2022: $215,475
  • October 2021: $192,366
  • Increase/Decrease: +12%
• Total Sales Volume
  • October 2022: $6,250,000
  • October 2021: $5,580,000
  • Increase/Decrease: +12%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers, and Affiliate Members. For more information, please visit http://www.bcarnc.com.

SHALLOTTE, N.C. - Brunswick County Association of Realtors

Brunswick County's residential real estate market felt the impacts of Hurricane Ian during September with fewer new listings and fewer homes sold compared to last year. Prices ticked upward, continuing a recent and familiar pattern.

"September hurricanes often affect our real estate market, and Hurricane Ian was no exception," said Cynthia Walsh, BCAR CEO. "Ian blew through at the end of the month, which is when a large number of closings typically occur. The timing explains why we saw a lower number of homes sold and lower total sales volume last month. While Ian brough a temporary tropical slowdown, and while our market isn't moving at the frantic pace it once was, we continue to see strong demand, and our market remains on track for another strong year."

Brunswick County saw $215,280,000 in total sales volume in September 2022, a 12.9% decrease from last September's $247,120,000. The average sales price increased 7.5%, from $433,541 to $465,983. New listings were down 16.3%, from 559 to 468. The number of units sold in September dropped 18.9% compared to last year, from 570 to 462, and homes spent an average of 30 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, remains at two months. Brunswick County's luxury market was strong in September with 28 sales in excess of $1 million, including a sale over $4 million in Ocean Isle Beach.

Year-to-date sales volume through September is $1,956,810,000, down 4.3% from $2,045,109,429 last year. Average sales prices for the year are 13.1% higher than 2021, increasing from $389,433 to $440,574. The number of units sold through September is down 17.7%, from 5,236 to 4,308, and the number of new listings is down 9.9%, from 5,694 to 5,132.

Brunswick County

New Listings

• September 2022: 468
• September 2021: 559
• Increase/Decrease: -16.3%

Units Sold

• September 2022: 462
• September 2021: 570
• Increase/Decrease: -18.9%

Average Sales Price

• September 2022: $465,983
• September 2021: $433,541
• Increase/Decrease: +7.5%

Median Sales Price

• September 2022: $364,438
• September 2021: $331,532
• Increase/Decrease: +9.9%

Total Sales Volume

• September 2022: $215,280,000
• September 2021: $247,120,000
• Increase/Decrease: -12.9%

Bladen County

New Listings

• September 2022: 16
• September 2021: 17
• Increase/Decrease: -5.9%

Units Sold

• September 2022: 8
• September 2021: 9
• Increase/Decrease: -11.1%

Average Sales Price

• September 2022: $192,488
• September 2021: $193,967
• Increase/Decrease: -0.8%

Total Sales Volume

• September 2022: $1,540,000
• September 2021: $1,750,000
• Increase/Decrease: -12%

Columbus County

New Listings

• September 2022: 30
• September 2021: 36
• Increase/Decrease: -16.7%

Units Sold

• September 2022: 32
• September 2021: 25
• Increase/Decrease: +28%

Average Sales Price

• September 2022: $202,054
• September 2021: $187,324
• Increase/Decrease: +7.9%

Total Sales Volume

• September 2022: $6,470,000
• September 2021: $4,680,000
• Increase/Decrease: +38.2%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers and Affiliate Members. For more information, please visit http://www.bcarnc.com.

If you're looking for a new home, it's important to look at a variety of properties before you make a final decision. Whether you're drawn to new homes with the latest amenities or old homes with charm and character, advice from our real estate agents can help you find the right home for you.

If you want bells and whistles, updated style, country charm, and waterfront views, you'll find all of them in Southport homes for sale. However, an important thing to consider is the age of the home. Let's take a look at some pros and cons of buying new homes vs. old homes that may impact your lifestyle and finances.

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SHALLOTTE, N.C. - Brunswick County Association of Realtors

In August, Brunswick County's residential real estate market saw higher prices, fewer new listings, and fewer homes sold compared to last August.  

"While there is talk nationally of a real estate slowdown, Brunswick County's market continues to demonstrate remarkable stability," said Cynthia Walsh, BCAR CEO. "When looking at these numbers, it's important to remember just how abnormal the past few years have been. While the number of homes sold is down slightly compared to last year, sales have been pretty much steady month over month for the past two years, generally hovering between 500 and 600 sales per month, with our usual seasonal dip in December, January, and February. Overall, our market remains on track to once again do something that was unheard of prior to 2020: surpass $2 billion in total sales before the end of the year."

Brunswick County saw $232,570,000 in total sales volume in August 2022, a 5.7% decrease from last August's $246,620,000. The average sales price increased 9.4%, from $415,883 to $455,130. New listings were down 10.4%, from 682 to 611. The number of units sold in August dropped 13.8% compared to last year, from 593 to 511, and homes spent an average of 26 days on the market. The absorption rate, which is the amount of time it would take to sell all available inventory, remains at two months. Brunswick County's luxury market remained strong in August with 19 sales in excess of $1 million and two sales of $2 million or more.

Year-to-date sales volume through August is $1,741,530,000, down 3.1% from $1,797,989,429 last year. Average sales prices for the year are 14.8% higher than in 2021, increasing from $383,919 to $440,574. The number of units sold through August is down 17.6%, from 4,666 to 3,846, and the number of new listings is down 9.2%, from 5,135 to 4,664.

Brunswick County

• New Listings
  • August 2022: 611
  • August 2021: 682
  • Increase/Decrease: -10.4%
• Units Sold
  • August 2022: 511
  • August 2021: 593
  • Increase/Decrease: -13.8%
• Average Sales Price
  • August 2022: $455,130
  • August 2021: $415,883
  • Increase/Decrease: +9.4%
• Median Sales Price
  • August 2022: $370,000
  • August 2021: $325,000
  • Increase/Decrease: +13.8%
• Total Sales Volume
  • August 2022: $232,570,000
  • August 2021: $246,620,000
  • Increase/Decrease: -5.7%

Bladen County

• New Listings
  • August 2022: 14
  • August 2021: 20
  • Increase/Decrease: -30%
• Units Sold
  • August 2022: 12
  • August 2021: 13
  • Increase/Decrease: -7.7%
• Average Sales Price
  • August 2022: $305,300
  • August 2021: $232,469
  • Increase/Decrease: +31.3%
• Total Sales Volume
  • August 2022: $3,660,000
  • August 2021: $3,020,000
  • Increase/Decrease: +21.2%

Columbus County

• New Listings
  • August 2022: 45
  • August 2021: 37
  • Increase/Decrease: +21.6%
• Units Sold
  • August 2022: 32
  • August 2021: 33
  • Increase/Decrease: -3%
• Average Sales Price
  • August 2022: $242,337
  • August 2021: $246,548
  • Increase/Decrease: -1.7%
• Total Sales Volume
  • August 2022: $7,750,000
  • August 2021: $8,140,000
  • Increase/Decrease: -4.8%

Robeson County

• New Listings
  • August 2022: 10
  • August 2021: 13
  • Increase/Decrease: -23.1%
• Units Sold
  • August 2022: 6
  • August 2021: 7
  • Increase/Decrease: -14.3%
• Average Sales Price
  • August 2022: $153,083
  • August 2021: $186,214
  • Increase/Decrease: -17.8%
• Total Sales Volume
  • August 2022: $918,500
  • August 2021: $1,300,000
  • Increase/Decrease: -29.3%

The Brunswick County Association of REALTORS® (BCAR) is the local association level of the largest trade association in the nation, presently serving its members, which are comprised of REALTORS®, Appraisers, and Affiliate Members. For more information, please visit http://www.bcarnc.com.

Moving always brings its fair share of challenges, but if you plan ahead and do your homework, you might be surprised by how smoothly the whole process can go. As always, our real estate agents are here to help.

Some of the most common and potentially disastrous moving mistakes are the ones that are made on move-in day. If you've already found the perfect Southport home for sale and are getting ready to move into your new home, these are the biggest mistakes to avoid:

• Procrastinating
  If you're the type who always waited until the night before a test to start studying, take note. Moving is not fun if you wait until the last minute! By the time you get to moving day, everything should already be boxed, packed, and ready to go. If you've rented a moving van or truck, it's also a good idea to get as much stuff as possible loaded up the day before the actual move.
  
  Ditching All Your Furniture
  We understand the appeal of moving into a new home and making it a fresh start. But while it can be tempting to kick all your old furniture to the curb and start fresh, you might want to hang onto a few things. Even if you have to rent a larger vehicle or pay your movers more, you'll still save some money. You might also be surprised how a new space breathes life into some of your old furnishings.
  
  
• Not Matching Furnishings to Architecture
  Of course, if you're moving into a new home that has a radically different architectural style than your old one, not all of your furniture will fit in. Matching decor to architecture is an important way to make your space feel natural and balanced. If, for example, you're moving into a breezy beach house in Southport, you might find that sleek, modernist furniture clashes with the whole vibe.
  
  
• Forgetting to Make Arrangements for Pets
  Moving is stressful for humans, so just think of how your four-legged friends must feel! It's always a good idea to make arrangements for your pets on moving day, like boarding them of having them temporarily stay with a relative while you get settled. That way, they'll be less stressed and won't get underfoot while you're moving in. When you're ready for your pets to join you, make sure their favorite toys and blankets are out and ready!
  
  
• Not Packing a 'Day One' Box
  Pack a separate box with all the essentials you'll need on your first day in your new home, and take it in the car with you. Its precise contents will be different for everyone, but be sure to include basic toiletries, washcloths and towels, electronics and chargers, a few snacks, and a change of clothes for everyone. You don't want to have to wait for the movers to arrive just so you can brush your teeth or take a shower.
  
  
• Not Checking the Weather
  You can't control the weather, but you can plan for it. Do your best to plan your move on a sunny day, but check the forecast religiously as you approach the big day, just in case the weather changes. If rain threatens, take precautions to keep everything from getting soaked as you move (trash bags, tarps, and towels are your best friends)!

Contact us today for more information on moving into your new home in Southport, NC. And if you're still on the hunt for that perfect home to call your own, our real estate agents are here to help every step of the way.

Few of us could have imagined the changes 2020 had in store for us this time last year.  Changes to our work lives, schooling, finances and retirement plans, travel plans and commute times, family organization, even cooking, outdoor activities and other hobbies have been transformed. For some of us, there's been a growing mismatch between the home we've loved for years and the way we live now.

Even if you're happy in your current home and it fits you to a tee, you owe it to yourself to consider the market.  Let us help you identify the opportunities that make up the silver lining of a very difficult year. It may be that the perfect buyer for your home is out there right now.  You might maximize the utility of your home by selling it now and moving ahead to your next real estate investment that will better accommodate your needs in the future. 

Q.     What about the upgrades I was planning to make to my outdated kitchen? I want to get top dollar for my home!

A.     Many buyers would prefer to choose their own appliances and finishes.  A good Buyer's Agent will help them connect with qualified professionals to do the work on a convenient schedule after they take possession of the home. Instead of making cosmetic improvements, focus your energy on any functional repairs that may be needed.  The point is to reinforce the idea that your home has been well-maintained.  You can look forward to putting your creative energies into a new home!

Q.     Where will I move ?

A.     Wherever you want!  See something you like? Let us approach the current owner and make inquiries on your behalf.  Your interest might persuade someone else who just happens to be "sitting on the fence" at the moment.  We can also find you a "lot and home package."  Builders often buy vacant land for future spec projects at very low prices. Many of them are more than happy to sell under the condition that you use them to construct the new home.  This can represent a great value for the buyer since they'll already have plans selected that suit the location and meet local building codes.  You'll often have the added advantage of choosing your appliance package, paint colors, hardware and other features without having to pay the higher price of a truly custom home. 

 Q.     Life is so hectic these days.  I don't have time to drive around looking at things or spend hours online.

A.     You don't have to, that's our job!  We can be sure that you're notified as soon as something new comes on the market that meets your specific criteria.  If you need three bedrooms, you will only see homes with three bedrooms, not two, and not four.  You'll be surprised at the way we're able to customize our searches by the school district, distance from the beach, community amenities, and of course the features of the home itself.  We also see a wider range of options coming on the market now.  Some people are letting go of their primary residence to move to their second home full-time.  Some are getting out of their rental investments and some are letting go of investments in land. We will help you explore all the options.

 Q.     How will I manage to afford it?  Times are tough!

A.     You might be surprised.  Talk to your banker or credit union representative.  Rates are still at near all-time lows and getting pre-approved makes any offer you do make all the more attractive.  For some, working from home means being able to save money on their commute to work.  It may also mean you can relocate to a neighborhood with no POA fees, lower taxes, lower insurance rates, or simply a lower price per square foot.  More people are also combining households these days. What was once the 'down-sized' retirement home for someone who has decided to move in with adult children might be the perfect next home for you!

 Q.     We want to wait and sell at the top of the market.  Are we there yet?

A.     You never really know where the top of the market is, until it's already in the past. This is why "market timing" doesn't actually work when it comes to selling real estate. By the time you notice a slight drop in closed prices, everyone else sees it too.  And those closed prices are based on contracts signed 30-60 days or more in the past! There will be a slight increase in inventory at this point because nobody wants to miss the opportunity to realize their home's top value.  That's understandable but increased supply means decreased relative demand.  Prospective buyers will also think they might gain some advantage by waiting a bit longer. They feel no urgency anymore. Additionally, homes don't typically sell the moment they're listed. The idea of market timing is based on automated sell orders you can set for stock market investments. The mechanics of this situation are just not the same. Another, often overlooked, reason for selling before you see the absolute peak is what we like to call "instant equity." When you anticipate the market, your new home's value will be lifted as we crest the peak of top pricing. That value becomes yours as equity, while you continue to pay the low mortgage rates locked in shortly before your closing date.

 Q.     What's the next step? How do I begin the process of listing my home?

A.     You've heard you should never expect something for nothing, but that's not entirely true.  The first thing a good listing agent will do is gather information for a comparative market analysis.  We do that for free, before you sign any sort of contract, so you will know where you stand in a competitive market.  It's also the only way for us to develop an appropriate marketing plan.  We have the tools to present your home to the pool of most likely buyers as soon as it's listed.  Whether that means including it in the Luxury Portfolio program, or digging into our contact lists for the new buyer who has been waiting to leave a long-term rental for a new home that is just the right fit. We're hearing from lots of folks who want to downsize as well as those who want more space, or just more flexible space. And we're always active with relocation clients. Don't forget, we've been turning visitors into locals since 1981!

Drop us an email or give us a call.  We look forward to hearing from you!

As interest rates hit record lows in recent months, would-be homeowners have been inspired to seek more spacious dwellings, with rooms where parents and kids can have a comfortable space to work or attend class remotely. If you're a first-time homebuyer looking for more space for your family, you may find your dream home among Southport homes for sale. But have you taken the right steps to ensure you're ready to make the deal? Make sure to do these five things before starting your house hunt. 

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Don't think you can afford to own your own home? Not so fast. There are plenty of people out there who want to buy a home but go into a panic after looking over their finances. So you're definitely not alone.

If there's one thing our REALTORS® believe, it's that home ownership should be within everyone's reach. Watch out for these common myths that keep people from becoming homeowners, and remember not to let them stop you!

1. You can't afford the down payment
   Worrying about saving for a down payment is one factor that keeps a lot of people from buying a home. It's usually recommended that you pay 20 percent of the home's value upfront, but let's face it—20 percent of even a low-priced home is quite a big chunk of change. 
   
   Fortunately, it's possible to buy a home with a smaller down payment, and according to the National Association of REALTORS®, 81 percent of American homeowners do just that. The downside of making a smaller down payment is that you end up with a bigger mortgage (and more interest in the long run), but for a lot of new homeowners that's a very worthwhile trade-off.

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Congratulations! You've found the house after looking at many wonderful Southport homes for sale and made it to the final walkthrough. You're about to officially become a homeowner! You're probably excited to get into your new home, but take the time to make sure everything is right before you sign the papers and get the keys. Our REALTORS® recommend you look for these five things on your walkthrough.

1. Verify repairs. Many people request repairs after a home inspection. Bring along your inspection report so that you can confirm repairs were made and done to your satisfaction. The seller should have provided documentation as well, and you'll need that in case you would have a problem covered under the contractor's warranty policy. Construction debris and materials should have been cleaned up.

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Whether you are shopping for Holden Beach homes or have already purchased one, you'll soon be moving. Pulling up stakes and moving to a new home and community is exciting, especially if you will be a first-time homeowner. However, moving is also a complicated and stressful process, and it can be quite easy to forget important details along the way. Knowing about the most common mistakes made by others can help you avoid making them yourself, so here are seven things people often forget to do during a move:

1. Collect Important Documents – This is a task that should be on your to-do list several weeks before moving. It can take some time to get many documents, such as family medical records, prescription lists, immunization records, school records, and other official documents. Other essential papers to collect and keep track of carefully during a move include insurance policies, tax records, financial records, identification documents, wills, and other essential legal documents.

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Do you have friends or family members that are spending their very first Christmas in a new home? If so, you're probably looking for just the right gift to celebrate this landmark in their lives. So what is the right sort of gift for such an occasion? The options range from practical and functional items to decorative or personalized ones that can help them make their new house a home. Our REALTORS® can offer a few tips, having lots of firsthand experience with first-time homeowners. Here is our list of top holiday gifts for the new homeowner.

• Kitchen Items
  If the new homeowner in your life likes to cook or entertain, practical and attractive items for their new kitchen can be very welcome gifts. If they are coffee lovers, an espresso maker or French press can be a great gift, especially when paired with a set of unique or personalized mugs. If they enjoy baking, a quality stand mixer will likely be appreciated, as might a good marble pastry board/rolling pin set. If they are first-time homeowners, kitchen basics, like toasters, a slow cooker, cutting boards, cooking utensils, or a set of kitchen towels and potholders may be good gift ideas. Other possibilities for the kitchen include cheese boards, stylish serving bowls, wine glasses or cocktail shakers, all items that will come in handy for new homeowners during the holiday season.
  
  

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Owning a home, and the freedom that comes with it, remains a crucial part of the American dream, even as more and more Americans find it more difficult to achieve homeownership. Our REALTORS® are here to make that process easier, and if you've been thinking about making the leap to owning your own house, we have several reasons why now might be the right time. 

1. Renting is more expensive. In the long run, renting may ultimately take away a much larger chunk of your income than buying. What's worse is that at the end of the day you have nothing to show for it; no rental property will ever be yours, no matter how much money you sink into it. And while it is generally assumed that renting is cheaper in the short term, even that is not always the case. Mortgage payments often cost less than monthly rent in many communities. 
   
   

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Deciding that you want to become a homeowner is a big step that comes with lots of questions. One of the first you'll need to address is how to save for your down payment. Don't worry, you can do this! Our REALTORS® offer these tips to get you started saving today. 

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One of the first things you have to do when buying a home is take an in-depth look at your financial situation. Since most people buying a home have to apply for a mortgage, it is imperative that you know what lenders will be seeing when they investigate your creditworthiness. Getting your credit report and knowing your score will be one of the first steps you want to take. But you might be wondering how much it really matters. The truth is it matters a lot. Here's why.

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It's time to move on. Your family has outgrown your home, you're downsizing, or maybe you're being relocated for work. Whatever the reason, our REALTORS® can help you sell your home and buy another. Buying and selling at the same time isn't always easy. But the good news is you probably learned a lot the first time you bought a house, so you can do this with the help of our real estate pros.

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If you've dreamed of buying a home but the down payment is a financial obstacle, now is a good time to take a second look. It's 2018 tax refund time and the average refund this year is approximately $3,000. That could be enough money to help you fulfill your homeownership dream.

Our REALTORS® understand that a down payment can be one of your biggest obstacles to buying a home in North Carolina. It's difficult to meet day-to-day living expenses and save money too. Your income tax refund can give you a reprieve from all that scrimping and saving. Here are a few tips to make it work for you.

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