Tag Archives: selling

Residential real estate market stats for Onslow County NC area, September 2013.

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Residential Unit Sales Stats And Ranking By Office

 

Statistics from Jacksonville Board of REALTORS®  MLS (Onslow County Areas 1-7)

 

January – September 2013          

 

 

 

 

Total Number of Residential Sales “Sold” YTD 9/30/2013 = 2158 (2250 in 2012)

Decrease of 92 or Down 4%  

Total Number of Active Residential Listings = 2487

 

 

 

Total Number of SF and NC 1,2,3 “Sold” YTD 9/30/2013 = 1835 (1999 in 2012)

Decrease of 164 or Down 8%

Total Number of Active SF, NC 1,2,3 = 2027

Total Number of NC 1,2,3 “Sold” YTD 9/30/2013 = 985 (1235 in 2012)

Decrease of 250 or Down 20%

Total Number of Active NC Residential Listings = 748

 

 

 

Total Number of SF 1,2,3 “Sold” YTD 9/30/2013 (NOT INCLUDING REO SALES)= 593 (668 in 2012)

Decrease of 75 or Down 11%

Total Number of Active Re-Sale Residential Listings = 1164

Total Number of  REO SF 1,2,3 “Sold” YTD 9/30/2013 = 257 (96 in 2012)

Increase of 161 or Up 168%

Total Number of Active REO Re-Sale Residential Listings = 115

 

 

 

Month over Month Comparison September 2012 – September 2013          

 

 

 

 

Total Number of Residential Sales “Sold” Sep 2013 – Sep 2012 = 201 (228 in 2012)

Decrease of 27 or Down 12%  

Total Number of Active Residential Listings = 2487

Total Number of SF and NC 1,2,3 “Sold” Sep 2013 – Sep 2012 = 161 (193 in 2012)

Decrease of 32 or Down 17%

Total Number of Active SF, NC 1,2,3 = 2027

 

 

 

Total Number of NC 1,2,3 “Sold” Sep 2013 – Sep 2012 = 80 (115 in 2012)

Decrease of 35 or Down 30%

Total Number of Active NC Residential Listings = 748

Total Number of SF 1,2,3 “Sold” Sep 2013 – Sep 2012 (NOT INCLUDING REO SALES)= 56 (69 in 2012)

Decrease of 13 or Down 19%

Total Number of Active Re-Sale Residential Listings = 1164

 

 

 

Total Number of  REO SF 1,2,3 “Sold” Sep 2013 – Sep 2012 = 25 (9 in 2012)

Increase of 16 or Up 178%

Total Number of Active REO Re-Sale Residential Listings = 115

 

 

 

 

Total “Active” numbers as of October 7, 2013

 

 

 

 

 

 

OFFICE VOLUME RANKING INFO  (ONSLOW COUNTY Areas 1 – 7 all types)

Info Obtained from Jacksonville Board of REALTORS MLS

January 1, 2013 – September 30, 2013

 

 

 

 

Rank

Office

Units

Volume

Units

Volume

Units

Volume

% Volume

 

 

Listed

Sold

Total

 

1

Keller Williams

172

$33,609,707

161

$28,993,066

333

$62,602,773

8.32%

2

C 21 Sweyer

161.5

$26,152,217

196

$31,785,423

357.5

$57,937,640

7.70%

3

Coldwell Banker Fountain

194

$36,594,800

111

$20,230,528

305

$56,825,328

7.55%

4

Coldwell Banker Sea Coast Ad

141

$23,791,450

164

$28,134,072

305

$51,925,522

6.90%

5

C 21 American Properties

97

$14,840,314

185

$26,501,146

282

$41,341,460

5.49%

6

C 21 Champion

78

$12,309,460

169

$28,276,500

247

$40,585,960

5.39%

7

HomeTeam

84

$14,851,512

81

$13,201,552

165

$28,053,064

3.73%

8

Non -Member Selling Office

0

$0

143

$27,524,759

143

$27,524,759

3.66%

9

Treasure Realty

77

$18,731,471

40

$7,497,303

117

$26,228,774

3.48%

10

C 21 American Properties West

110

$15,994,300

68

$9,742,500

178

$25,736,800

3.42%

11

Prudential Hometown

75

$11,946,890

69

$12,267,306

144

$24,214,196

3.22%

12

Landmark Real Estate

31

$11,321,070

41

$10,898,895

72

$22,219,965

2.95%

13

Choice Jacksonville Realty

95

$10,364,985

68

$7,625,060

163

$17,990,045

2.39%

14

Courtney Carter Homes

39

$7,784,685

48

$8,910,194

87

$16,694,879

2.22%

15

Castro Real Estate Group

49.5

$9,518,694

36

$6,068,631

85.5

$15,587,325

2.07%

16

DR Horton Inc

56

$13,614,203

8

$1,966,690

64

$15,580,893

2.07%

17

Fonville Morisey & Barefoot

50

$11,969,268

11

$2,726,336

61

$14,695,604

1.95%

18

RE/MAX Home Connections II

100

$8,751,684

37

$4,029,032

137

$12,780,716

1.70%

19

Cold Banker Sea Coast- Surf City

19

$4,216,555

32

$6,412,298

51

$10,628,853

1.41%

20

Harrison Dorn Innovative Property

18.5

$3,007,246

40

$5,565,232

58.5

$8,572,478

1.14%

 

Baby Garrett is a motivator in more ways than one.

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I never thought I was a person who would get such pleasure from doing something someone had told me wasn’t possible, even if I wasn’t planning to do so.  I have made some personal and professional decisions over the years based on the supposition that children of my own were a very long shot, at least without serious medical intervention.

This handsome fellow, with his fist in the air says challenge your thoughts, challenge convention.  When life places a bend in your path or an “obstacle” you weren’t anticipating. . .take the dive.  I have to admit, previously I had been a “keep the status quo” kind of girl, anti-surprise party. . .and a planner ten steps in advance (as a very clumsy child who was placed in ballet as a toddler- plotting your next dozen steps keeps you from tripping and falling).  HE has been the most mind blowing and joyous surprise I could have NEVER anticipated.

Part of me would love to pack up Garrett for a visit to the Brody School of Medicine for a hello and visit to some nurses I got to know very well years ago, but I’m so pleased with the (not so, since I’m writing here) silent knowledge  that despite some crazy hurdles, insane odds, and what-are-the-chances timing. . .he’s almost here.

To date, Garrett is the best adventure I’ve taken.  I can’t wait to see what my cohort and I get into in this next very exciting chapter in my life.  So far, he’s been a most excellent and gallant escort while meeting clients and showing homes.  🙂

May you have many exciting new chapters in YOUR life and amazing adventures on your horizon.

A note from our AM Sales meeting- better communication with appraisals.

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G u E S T C O L u M N I S T

 

By VIC KNIGHT

 

CERTIFIED GENERAL APPRAISER

 

VICE-CHAIR NC REAL ESTATE COMMISSION

 

Can I Talk to the Real Estate Appraiser?

 

AppRAiSER iNdEpENdENCE iS ThE LAw uNdER

 

dOdd-fRANk (wALL STREET REfORM ANd CONSuMER

 

pROTECTiON ACT), ANd ThERE ARE CERTAiN CiRCuMSTANCES whERE A BROkER CAN CONTACT & TALk TO

 

NAR conducted a survey in September 2012 and found that

 

11% of REALTORS® had a contract canceled because the

 

appraised value was lower than the contract sales price, 9%

 

reported a delay in the scheduled closing and 15% indicated

 

the purchase price was renegotiated at closing due to the

 

appraised value being lower than the original contract sales

 

“The requirements of subsection (b) shall not be construed

 

as prohibiting a mortgage lender, mortgage broker, mortgage

 

banker, real estate broker, appraisal management company,

 

employee of an appraisal management company, consumer, or

 

any other person with an interest in a real estate transaction

 

from asking an appraiser to undertake 1 or more of the

 

following:

 

(1) Consider additional, appropriate property information,

 

including the consideration of additional comparable

 

properties to make or support an appraisal.

 

(2) Provide further detail, substantiation, or explanation for

 

Although showings are rising, contracts

 

are being written, and purchase prices

 

appear to be increasing, appraised

 

values sometimes do not match the

 

contract price. You have a good offer

 

on your listing and believe you have

 

provided the seller with competent

 

information from your CMA, which

 

properly prices the property to sell at

 

the most probable sales price for the

 

subject property in the current market. Then, the appraisal comes back

 

lower than the original contract price.

 

You have been told that you cannot

 

talk to the appraiser under any circumstances because it is against the law.

 

Well, that is simply not true. There is no

 

prohibition against real estate brokers contacting

 

appraisers about a mortgage loan appraisal when they have

 

the appraiser’s value conclusion.

 

(3) Correct errors in the appraisal

 

report.”

 

Although this language does

 

address the issues that brokers can

 

ask an appraiser to consider, note

 

that it does not allow a full blown

 

“conversation” or “discussion”

 

with the appraiser. The implication

 

is that the flow of information is

 

essentially one-way, from the broker

 

to the appraiser. A broker can NOT

 

anticipate there will be any substantial “conversation” or “discussion”

 

about the appraisal or its

 

conclusions.

 

Dodd-Frank does not provide for any other

 

Brokers are allowed to contact appraisers and provide additional property information, including a copy of the sales

 

contract for purchase transactions. Brokers may not intimidate

 

or bribe an appraiser and an appraiser may not disclose confidential information about the appraisal or the appraisal assignment at any time. The language of Dodd-Frank is specifically

 

form of communication between the broker and the

 

appraiser.

 

Appraisers Are Subject to Increased Regulation

 

The housing market is certainly complex and so is the

 

appraisal process. The national housing market downturn

 

brought numerous regulatory changes to the real estate

 

industry, including the entire appraisal process and those

 

who provide appraisal services. The Dodd-Frank Wall Street

 

Reform and Consumer Protection Act was signed into law

 

by President Obama in 2010.

 

Dodd-Frank “sunsetted” the

 

Home Valuation Code of

 

Conduct (HVCC) and required

 

the Federal Reserve to amend

 

the appraisal independence

 

rules. The interim final rule

 

became effective April 1, 2011

 

and applies to all consumer

 

credit transactions secured by

 

a consumer’s principal dwelling. Fannie Mae and Freddie

 

Mac servicing guidelines now

 

reflect this rule. In addition,

 

state laws and regulations

 

require appraisers to comply

 

with the Uniform Standards of

 

Professional Appraisal Practice

 

Dodd-Frank contains provisions about the function and

 

regulation of appraisal management companies (AMCs).

 

AMCs remove the administrative processes of appraisal management from the lender’s control. For a fee, the AMC recruits

 

appraisers, contracts with them

 

to perform appraisals, manages

 

the appraisal process, pays the

 

appraisers and reviews their

 

work. The regulations prevent

 

mortgage brokers or real estate

 

agents from selecting or paying

 

an appraiser if the appraiser’s

 

report will be used for lending

 

purposes. Based on DoddFrank, AMCs have sometimes

 

instructed appraisers to significantly limit their interaction

 

with interested parties to the

 

transaction. This has caused

 

much of the confusion on what

 

type of contact and talk can be

 

10 Tips Brokers Can Utilize to Help the Appraisal Process:

 

w Don’t put restrictions on the appraiser in making an appointment to inspect

 

the property. If your MLS utilizes an appointment system, use it. You will be

 

notified of the appraiser’s site inspection.

 

w If an appraiser calls, be responsive and provide as much information as needed. Return the call promptly even if your listing has closed. You are the expert

 

source of info on your listing, and the appraiser may not be aware of the hidden

 

features or upgrades.

 

w Be as descriptive as possible in MLS about your listing. Include ample photos

 

and documents.

 

w Don’t use or reference tax records as your “source” of information. Do the

 

proper leg-work on your listing; it builds significant long-term credibility among

 

your peers and local appraisers.

 

w Distinguish “Above-Grade” Living Area from “Below-Grade” Living Area in

 

your MLS, particularly the quality of finish in “Below-Grade” Living Area, Attics,

 

Bonus Rooms, Decks, Porches, etc.

 

w Provide an “Appraisers Package” in advance and have it available at the

 

property when the appraiser is inspecting the property, or meet the appraiser

 

at the property so you can answer any questions, inform them of the unique

 

features of the property or neighborhood, and allow the appraiser the space

 

and time to complete their inspection (Appraisers Package could include: Plats,

 

Surveys, Deeds, Covenants, HOA Documents, Floor Plans, Specifications,

 

Inspection Reports, neighborhood details, recent similar quality comparables,

 

detailed list & dates of upgrades and remodels, photos, etc).

 

w Provide a fully executed copy of the purchase contract, including all addenda.

 

w Explain to the seller or buyer that the role of the appraiser is not to confirm

 

the sales price but to provide the lender an independent opinion of the value

 

of the underlying collateral. Provide the seller or buyer a copy of the brochure

 

developed by The Appraisal Foundation entitled “A Guide to Understanding a

 

Residential Appraisal,” available for download at http://www.realtor.org/appraisal/aguide-to-understanding-a-residential-appraisal – 2013-03-28.

 

w REALTORS® and consumers can be present during the appraisal inspection.

 

Make sure all parties allow the appraiser the space and time to complete their

 

appraisal inspection.

 

w Make sure the property condition (inside and outside) is the best possible for

 

the appraisal inspection, and inform the seller that interior and exterior photos

 

will be taken by the appraiser.

 

(continued on page 10)

 

INSIGHT May 2013 9

 

For many years the National Association of REALTORS®

 

has spoken out for an “independent appraisal process” for

 

licensed and certified appraisal professionals. In 2012 NAR

 

adopted the “Responsible Valuation Policy” outlining NAR’s

 

position on valuing and pricing property. This NAR Policy

 

can be found at http://www.realtor.org/appraisal/responsible-valuation-policy.

 

What Can Appraisers Discuss After the Report Has

 

Been Sent to the Lender/Client?

 

Once an appraisal assignment is completed and sent to the client, the Uniform Standards of Professional Appraisal Practice

 

(USPAP) prohibit an appraiser from discussing the results

 

of the report with anyone other than the client who ordered

 

the appraisal, or parties designated by the client. In order to

 

ask an appraiser to correct errors in the appraisal report, a

 

broker must use the client, typically the lender, as an intermediary. The client may choose to provide additional data to

 

the appraiser for consideration. The language from USPAP’s

 

 

There are many things brokers

 

and sellers can do to put the

 

property that is the subject of

 

the appraisal in the best position

 

possible for the most favorable

 

appraised value outcome.

 

 

“An appraiser must not disclose 1) confidential information; or

 

2) assignment [appraisal] results to anyone other than:

 

w persons specifically authorized by the client;

 

w state appraiser regulatory agencies;

 

w third parties as may be authorized by due process of law; or

 

w a duly authorized professional peer review committee except

 

when such disclosure to a committee would violate applicable

 

What Can Brokers Do to Help the Process?

 

First, recognize that the appraiser’s function is to develop an

 

independent and impartial opinion of the value of the property for the lender (the appraiser’s client) to determine what

 

the value of the underlying collateral is for the lender to base

 

their financial lending decision on.

 

There are many things brokers and sellers can do to put the

 

property that is the subject of the appraisal in the best position possible for the most favorable appraised value outcome.

 

The most important is providing as much accurate, current

 

and detailed information on the subject property as possible.

 

Most of that information can easily be provided through the

 

local MLS, which is not only beneficial to the appraiser of the

 

subject property, but equally beneficial when the appraiser

 

uses that same information as a future comparable. Potential

 

homebuyers also benefit from the information during their

 

search process. This is the first opportunity for the listing

 

broker to provide accurate, current and detailed information about the subject property as well as the broker’s unique

 

knowledge of the local real estate market through supporting

 

information and documentation on the subject property.

 

An example would be when the subject property has extensive “energy efficiency” amenities, “green” or other similar

 

“high-performance” characteristics. It would be appropriate that the lender is informed, in advance, that a properly

 

qualified appraiser who is proficient in appraising “green”

 

properties should be selected. Some MLS systems provide for

 

energy efficiency details and certifications that can be incorporated directly into the listing information as an integral part of

 

the listing data. Take advantage of this feature.

 

Another thing brokers can do easily to help the overall

 

appraisal process is to incorporate as many photographs as

 

the local MLS system will allow. Include not only a front

 

photo, but also a rear photo and possibly a street or other

 

neighborhood amenity photo, in addition to photos of all

 

the major rooms and all the special features of the property.

 

According to NAR, those listings with more detailed photos

 

of the property sell much more quickly than those which have

 

few or no photographs. An accurate, detailed MLS listing

 

is vital to all interested parties, including the appraiser. The

 

more details the better.

 

NOTE: As of March 1, 2013 there were 3,498 licensed and

 

certified appraisers in North Carolina.

 

NOTE: The Appraisal Subcommittee (ASC) of Congress has

 

been charged with implementing the Consumer Financial

 

Protection Bureau (CFPB), which gives consumers an information resource to help complainants determine the appropriate

 

legal authority to receive their complaint involving allegations

 

of non-compliance with USPAP or appraisal independence

 

requirements. Access the Hotline at http://refermyappraisalcomplaint.asc.gov/ or by calling toll free (877) 739-0096. v

Grit, passion and generally kicking ass-I’m sure it’s on her resume.

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In life it’s great when you can find an author who helps give you a swift kick in the butt when you’re needing inspiration, someone who can get those brain juices pumping like a lemonade dispenser at a chick-fil-a during the summertime.   Sally Hogshead is that for me.  How can you not appreciate a chick who’s website tag line is: ” A hogshead is a barrel that holds 62 gallons.  So what’s your name, smartass?”  Sure, you can toss me in a lbd and slap on some classic jewelry and make me stand around and drink tea and eat cucumber finger sandwiches but at heart, I’m still that girl who gets a good belly laugh out of the great things in life like dirty jokes, great stories, meeting new folks and laughing so hard my sides hurt.

Just picked up and blasted through her latest book, Fascinate http://search.barnesandnoble.com/Fascinate/Sally-Hogshead/e/9780062061713/?itm=3&USRI=sally+hogshead , which, as expected, rocked.  If you haven’t stumbled across her first book, Radical Careering, it’s a must read also, however out of print http://www.amazon.com/Radical-Careering-Truths-Jumpstart-Career/dp/B000F5FR1M/ref=pd_sim_b_4.

Anyhoo, enjoying a fired up author as I do and being a little too plugged in to sites like twitter and StumbleUpon, I found out she eloped recently which I think is so rocking and so her.  http://www.lovetifblog.com/?p=657  Kinda have to read to appreciate and no, it’s not some TLC wedding story mumbo jumbo, just kick-ass big love and them celebrating it together.  Oh, and a pink wig is involved.

SO, if you’re looking for a little self-inflicted ass kicking with a side of fire in your belly, she’s a great read, tons of personality and lots of great real world examples.  If you can’t smile while reading anything she does, you must have the personality of a spork, just sayin.’

http://www.youtube.com/watch?v=hs85s45649g&feature=related

http://www.youtube.com/watch?v=GVOFbY_roAU&feature=related

http://www.youtube.com/watch?v=0Wid4MKPqQc&feature=related

http://www.youtube.com/watch?v=GQrlL1xtqSc&feature=related

http://www.youtube.com/watch?v=k8waqwf1rBA&feature=related

http://www.youtube.com/watch?v=7o666ug11Pc&feature=related

http://www.youtube.com/watch?v=Ahl8cxqMVvY&feature=related

http://www.youtube.com/watch?v=zFazcTkugLU&feature=related

http://sallyhogshead.com/

Crack down on Fake PCS and other news. . .

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www.910homes.net

I’m sure I don’t need to tell you there have been lots of changes in the real estate industry in the last few years.  Rumor patrol is part of my job.  We had an amazing series of meetings with base officials, state organizations, and peers.  The result?  A few updates.

-Rumors have swirled for years that E5 and below are required to stay on base.  Not the case.  No USMC order exists nor is one planned.

-North Carolina has had some changes in the way fees can be assessed and collected for property management and tenants.  If you have questions regarding your lease, property manager, your rights as a tenant or owner, feel free to call or email.  If you are a tenant and have a dispute with the property management firm or the property owner, do not simply move out of the property and abandon your lease.  Consult an attorney or even a competing firm for help on how to constructively sole your problem and keep you out of the court system.

-FALSE PCS ORDERS.  Enacted in 2003, the Soldiers and Sailors Relief act (http://usmilitary.about.com/od/sscra/l/blsscra.htm) was drafted to protect Active (and later amended to cover Reservists) Duty Service Members.  With a simple thirty notice and a copy of PCS  orders(Permanent Change of Station), a service member could break their lease with no penalty.  For a variety of reasons: found a home they’d like to buy, tired of the current living arrangements, divorce, etc. there has been a rise in folks drafting FALSE PCS ORDERS to help them break leases or terminate a real estate transaction, abusing the Soldiers and Sailors Relief Act and creating financial turmoil for innocent builders, property owners and managers.  In the instance of the USMC, there has and will continue to be a crack down.  My firm verifies each and every copy of PCS orders breaking a lease or a contract by contacting the Command which has had mixed results.  In several instances the result was the active duty member being booted from their respective service.  If you’re reading this thinking about falsifying pcs orders, there are other, legal options (ask me if you have questions, regardless of where you’re located).  From this week forward, there will be a point of contact (POC) at Camp Lejeune who will research each and every inquiry and report back directly.  Don’t be that guy that gets caught.

If this info wasn’t helpful in answering your questions. . .or even created more, feel free to shoot me an email and I’ll get you some answers.

***I would type out a LONG disclaimer here, however, I have homes to show and clients to meet.  In SHORT: No, I’m not an attorney but I know a few so don’t take anything here as the gospel.  I’m a North Carolina licensed Real Estate Broker and REALTOR so if you’re not in NC, things might be a little different.  If you’re looking to move anywhere in the world and don’t want to throw a dart at the phone book to find a talented and experienced agent you wouldn’t mind being locked in a car or office with for a several day long house hunt, it’s a handy match-making service I provide free of charge.  Thinking of buying, selling or renting?  I can help you weigh the pros and cons and navigate the process.  Give me a holler!

Spring has sprung which was cause for a new blog title.

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   TheGlassHouseBlog.com is alive and kicking. . .feel free to pick up a rock every now and then and pitch it my way.  Love some feedback and more ideas. . .this year I think there are a few treats in store in terms of format, new topics, etc. so keep checking back.  New business cards are on order. . .and at some point this spring, I’ll get around to a new head shot but enjoy the snap to your left for the time being.

 Lots happening in the real estate market of Onslow County NC.  I have a few blogs-in-progress but work, handily, gets in the way at times and dampens the creative spirit.  Adding some new folks to the team this year as well, so, should you visit, new smiling faces to meet.

If you’d like a snap shot of the market conditions for your specific needs and timeline, it’s a free serice I provide as well as free relocation services. . .if you’re anywhere in the world, I can research and find you an experienced and friendly agent with a rockin’ track record so you aren’t just throwing darts at the phone book looking for talanted help.

Visit www.910homes.net . . .and if you know a talented computer geek (or happen to be one), I’d love some new layout ideas/options. . .thinking over web domain renovation and I’m open to suggestions.

In the meantime, I’m wrapping up some comparative market analysis projects for a few homes today and managed while out at lunch to find some cotton candy scented body spray at Walgreen’s to complete the Easter Bunny ensemble I’ll don for the annual office Easter party.  Like Elle Woods in Legally Blonde with her pink scented resume. . .I figured smelling less like a costume out of a box after a year, smelling like candy might be helpful with scared wee ones.  We shall see! 

I have a blog crush

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I tend to snoop around and poke through fellow real estate bloggers and have a new real estate blog crush, http://toddlongcentury21.wordpress.com/ . . . inspiring me to take it to another level!  I have more work to do, rolling up the sleeves and getting down to business!

As usual, if you have questions about the status of the market and what it means for you, give me a call, email or text.  910.554.0761 and mckenziesellshomes@gmail.com and check back often for more information!