Money Matters....

Consider the following from Intracoastal Mortgage:

Over the past four to five weeks it has been hard to find any good news to talk about. The stock market has ventured into un-chartered territory but if we look at the current mortgage rate environment there is a small silver lining. We continue to see volatility which feeds anxiety but looking at the rate trend over the past three months (chart below) the market is better now than back in the July/August timeframe. There have been some guidelines tighten which will continue but overall money is available at very affordable rates. Engage a mortgage professional as early in the process as possible so surprises can be mitigated. Please utilize us to help answer questions and clear up some of the confusion that is present in the market.

Suggested reading: “Think and Grow Rich” by Napoleon Hill. Considering the times that we find ourselves in this is a great book to read. It deals with one’s frame of mind and how it plays into success.

Martin Barbee
President
Intracoastal Mortgage Co.
534-A Causeway Drive
Wrightsville Beach, NC 28480
910.256.7773 o
910.256.0443 f
910.264.1208 c

Market Update in Marsh Oaks

While the economic world may be in turmoil, values still hold in Marsh Oaks. This is a great time to buy and savvy buyers are buying value, not just looking for the best deal on paper.

Within the last thirty days of this post, 4 homes in Marsh Oaks have been put under contract, one was on the market less than 30 days, and one was put under contract before it even hit the multiple listing service.

In the last thirty days, 3 homes have closed in Marsh Oaks. One of those homes was a pre-sale, and another sold for 107.75% of asking price! The average percent of sale price to list price in September was 101.8% .

In the SaltGrass section of Marsh Oaks, we are sold out of standing inventory (don't worry, new construction should be done in 6 months!)

If you are looking for a home that will hold it's value, as well as provide a great neighborhood atmosphere, you really should check out Marsh Oaks!

Money Talks...

In recent months there has been so much media attention to the housing and mortgage industry and all of it negative. There is a bright side to all this in spite of the media reports. Mortgage lending had gotten out of hand and needed to be reined in. There were individuals in the profession ,who for a nice commission check, put people in homes they could not afford. Now those homeowners have been foreclosed on and the numbers are growing every day. The mortgage loan officer is on to another "profession".
Since we are talking about housing/real estate the old addage of location, location, location is true. Our wonderful area has not been affected as other areas of the country have. Most North Carolina cities are showing growth in home sales and in appreciation and certainly the Wilmington area is one of those "survivor" cities. I have been in the mortgage profession 28 years and I don't believe there has been a better time to purchase a new home. We have an inventory of homes that offers a good selection. Builders such as the builders in Marsh Oaks are offering great incentives. Interest rates are still at record low levels, recently as low as 5% for a 30 year fixed rate.
If you are thinking about a new home, now is the time. Don't wait until interest rates and home prices go up.

BRENDA MCDONALD, VP
Lumina Mortgage Company
219 Racine Dr., Suite A
Wilmington, NC 28403
910-202-8225 Direct
910-452-0997 Fax
http://www.blogger.com/www.luminamortgage.com

Marsh Oaks is STILL a great investment!

I've done a little research to confirm what I already suspected: Marsh Oaks is a great investment. I've looked at 19 of the homes that have re-sold within 2007 and calculated their return on investment. The average return on investment is 30%, the average number of months for the return is 35. (Click here to see the details of the return on investment in Marsh Oaks)


So here comes the logic (pause for effect)...

If the best time to buy is during a buyer's market, the best place to buy is Marsh Oaks! Imagine what some of these returns would have been if the homes had been purchased in a "buyer's market" and not a seller's market!

If there are any questions I can answer for you about Marsh Oaks, please do not hesitate to contact me!