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What's going on with the mortgage interest rates?

Mortgage interest rates seem to be a hot topic among economists, housing market analysts, and the media these days.  But what's really going on?

The facts are:
•Mortgage rates hit a historical low in October 2012 at 3.8% (at an average 30 year fixed rate loan) according to Freddie Mac.
•Mortgage rates slowly creeped up and then dropped back down in 2013, still remaining relatively low all year.
•The Fed announced in December 2013 that they'll be cinching the purse strings on the bond buying program- which is the program that kept the lid on long-term interest rates in an effort to stimulate a relatively weak economy.

What the analysts are predicting:
•Home Values will rise, some are predicting as much as 3%
•Mortgage rates will creep toward 5.5%
•Mortgages will be easier to obtain

What this means to Home Buyers:
Today's fixed rate mortgage is hovering right around 4.5%, and with the expectation of 5.5% in the near future, the 1% increase will decrease a buyer's purchasing power by as much as 10%.  So if you were looking at homes for sale in the $200,000 price range, you may want to consider similar homes in the $180,000 price range.

What this means to Home Sellers:
If you took advantage of the historically low interest rates in the last few years, whether as a purchase or as a refinance, you may consider letting a buyer assume your loan, as part of the negotiations.  Or, consider the amount of equity you will gain with the slowly rising home values.

As with anything, we need to try to make the most informed decisions, and there are no crystal balls in real estate!  For the most accurate, local real estate information, give me a call!  I'd love to discuss what's going on in the Jacksonville real estate market with you!

Amanda Parmer, REALTOR, Keller Williams Realty

910.545.0450

www.JacksonvilleNCHomeSellers.com

FAQ's Buyers Ask When Buying A Home

There are a lot of details when buying a home and homebuyers ask questions-  a lot of them!  The adage remains true, "You don't know what you don't know.  And if you don't ask, you still don't know!"

Curiosity is at an all time high during the home search as buyers and sellers try to size up each other and their motivations.  These are some of the most popular questions from homebuyers:

How long has the home been on the market?
Buyers should be asking this question.  Many times the longer the marketing time usually means it lags as a result of price in relation to its condition and competition.  They view it as "something is wrong with the property" as to why it's still on the market.  Likewise, if the home is priced accordingly, they'll sense the motivation and jump on it, in fear of missing a good deal.

Why is the seller selling?
Every buyer wants to know this and is another question used to try to determine motivation. However, buyers can't assume that the seller's reason is any more of a motivation to sell than the buyers motivation is to buy.  It's a gamble to try to guess.  This is not a material fact, but if either the buyer or the seller knew the other's motivation, it could be used as a negotiation point.
How long have they owned it?  How much did they pay for it?  What do they owe?
Buyers always want to know how much equity sellers have, so they know how much to offer or ask for as far as concessions.  And for the most part this is all public knowledge in North Carolina.  The deed of trust is recorded with the deed and shows how much money is lent.  Any good buyer's agent will figure this out and structure an offer to best suit the buyers.
Any Maintenance/home improvement questions!
How old is the roof, when was the heat pump last serviced, how much are the utilities?  And on and on!  Taking on the responsibility of home ownership is a big deal for many people, and knowing if they're also taking on a money pit can be a deal breaker.  I always recommend to all my homeowners that if they see any "honey-do" projects or little fix-its when they put their home on the market- go ahead and get them fixed!  The less a potential buyer sees wrong with the home, the less they'll investigate for more issues!

For more questions about buying or selling homes, give me a call!

 These are just the most popular- there are PLENTY more to talk about!!  For a complete list of homes for sale in the Jacksonville area, click here.

FREE MOBILE HOME SEARCH APP!

Did you know that more than 65% of home searches are done on a smartphone or tablet?  How convenient would it be to drive through your favorite neighborhood around Camp Lejeune, or down the beach on Topsail Island and have information for homes for sale at your fingertips?

It's very simple- either scan this QR code,

or go to your Google Play or App Store and download the Keller Williams Home Search App,

or text APP to 9105450450 and it will be sent to you right away!

The next step is simply input this secret squirrel code:  KW2LVJEME under the "my agent" section and it will automatically connect you to me!  

I'll be able to give you even more information about any of the properties you save or schedule times for us to take a look at them!  

~~Now thru March 16 2013, there is a sweepstakes for anyone who downloads my app!  You will be entered to win $50,000!!~~

Call or Text Amanda for complete sweepstakes details and instructions for downloading the FREE home search app!

Amanda Parmer

REALTOR®

Keller Williams Realty

910.545.0450

www.JacksovnilleNCHomeSeller.com

NEW Construction Townhomes For Sale In Carolina Plantations!

These new construction town homes for sale in Carolina Plantations are the perfect alternative for those who are paying rent and would like to invest OR for the first time homebuyer!

Homeowners of these new construction town homes will enjoy living in Carolina Plantations with amenities like a dog park, community sewer, sidewalks and street lighting with the added bonus of low county taxes!

These charming town homes offer 2 bedrooms and 2.5 baths at approximately 1,067 heated square feet. The foyer welcomes you in and opens to the spacious family room. Throughout the home you will find plantation blinds installed and ceiling fans in the bedrooms and family room. 
Open to the family room, the kitchen is sure to please with plenty of cabinet and counter space and breakfast bar. Stainless appliances include a smooth-top range, microwave hood, dishwasher, and REFRIGERATOR! 

The laundry room is just off the kitchen and includes a new WASHER & DRYER! Half bath on the first floor. 

Bedrooms are found upstairs and both include private, full bathrooms, ceiling fans, and

spacious walk-in closets! 

Enjoy your morning coffee on the screened in back patio. 6ft white vinyl fence gives you that additional privacy you've been dreaming of. Talk about "all that and the kitchen sink!"

The builder is currently offering (as of December 19, 2013) a one year builder warranty AND a $2500 furniture allowance...all for a LOW affordable price of $110,000!  

Call Amanda if you'd like to take a look at these new construction town homes in Carolina Plantations!

Amanda Parmer

REALTOR®

Keller Williams Realty

910.545.0450

www.JacksonvilleNCHomeSeller.com

2014 BAH Rates have been released!

Good News for military members!  BAH will be increasing for a lot of troops!  BAH, or Basic Allowance for Housing, is provided to military members not living in government quarters.  The allowance depends on the service members duty station zip code, rank, and dependency status.

The 2014 rates have been released (see them here!) and troops will enjoy, on average, a 5% increase in the previous year's allowance. 

BAH is non-taxable income to cover the cost of housing and/or utilities and has played a huge role in the housing market.  Military members are able to use this non-taxable income to invest in real estate and build their financial wealth.  Despite the fact that military families move every three to five years on average, many decide the benefits of purchasing a home far outweigh the reasons not to.  Homeowners can enjoy the tax benefits and appreciation of real estate, as well as the more personal reasons like the ability to paint, or have pets, or the feeling of ownership and home.

Many homes for sale in the Jacksonville, NC area will be purchased by military members and they will be counting on BAH to help fund their home purchase.  This slight increase will go a long way in the local real estate market.

Questions about homes in the area?  Call Amanda!  910.545.0450

Onslow County Christmas Cheer! Spread it around!!

Onslow Christmas Cheer, begun in the early '70s, is a program run completely on donations from the community and volunteers so that children and families can experience a Christmas, when they otherwise might have had to go without!  Onslow Christmas Cheer helps needy families and their children by providing gifts for children up to 12 years of age, supplies and personal items for older children and seniors, and a box of food for the whole family.
In 2012, the community program helped 5,100 individuals, 1,474 families and gave 42,015 toys- all within Onslow County!!

It's easy to help!  You can donate toys to the Christmas Cheer Center at the old Army Reserve Center on Drummer Kellum Road, or if you'd like to make a financial donation, you may bring it to the Christmas Cheer Center on Court Street.  
Others choose to sponsor a family.  There are thousands of applicants, for various reasons.  And whatever those reasons are, it's never the children's fault.  Sponsoring a family can be very rewarding, however you must be able to also offer compassion and love in the spirit of Christmas.  This website will show you some of the available cases that you can choose from to sponsor this holiday season.  If you have any questions, please contact Shelly Bishop at 910.545.4869.
Giving back is the true spirit of the holiday season.  Spread the cheer!