This week, both the Moore County and Montgomery County Commissioners endorsed moving forward with the potential development of an mega-site Moore and the eastern part of Montgomery. This idea has been talked about for years; however, on a recent train trip through the property, it became clear that the primary landowners and elected officials from both counties wanted the project to move forward.

Today,  Prudential Gouger O’Neal & Saunders announced that they will begin using Microsoft Tag technology, starting with their August 27, 2010 issue of  The Pilot and the September/October issue of The Pinehurst Magazine.  From August 27th Prudential Gouger O’Neal & Saunders will feature Tags, which will provide readers with a more impactful and interactive experience. Tags included in the future issues will enable Pilot readers to gain instant access to Featured listings, Search for Properties, Market information and more from their mobile phone. 

“We are thrilled to work with Microsoft Tag to make our advertising  richer than ever before by enabling our readers to connect directly with our website,” said Kay Beran, President of  Prudential Gouger O’Neal & Saunders. “By bringing Microsoft Tag to our customers, we are both elevating the consumer experience and delivering targeted consumer information to our prospective clients.” 

If you don’t already have the Microsoft Tag reader on your phone, download it for free by going to http://gettag.mobi on your mobile browser.  You will enjoy the experience!

Pinehurst/Southern Pines Area MLS Statistics for 1 Jan – 20 July 2010:

Mortgate Rates at all time lows!  See the latest rates from Wells Fargo

Moore County, NC.  After a frenzy to get our buyers under contract before April 30, 2010 and closed before June 30, 2010, the market took a rest.  “Buyers sat on the fence immediately following the end of the tax credits”, said Kay Beran, president of Prudential Gouger O’Neal & Saunders.  “We did all we could to get the first-time home buyers and the repeat buyers under contract.” 

Market statistics showed an improvement with these incentives but not what we would have thought.  We still feel that we have good news to move our market!  Now the market will be encouraged and incented by historically low mortgage rates coupled by some excellent price reductions in all classes of property.  “The government provided some incentives and now the sellers and the banks are doing the same although these will have a more lasting impact”, stated Beran. 

How do the numbers stack up against 2009?  The numbers speak for themselves – steady and similar to a year ago.  Buyers should be prepared to jump into the market with both feet for some great buys.  Check out the Second Quarter Market report for more details.

“To help our sellers, we have re-visited a price strategy that worked very well in the mid-90′s”, said Kay Beran, president of Prudential Gouger O’Neal & Saunders in Pinehurst, NC.  “We are searching for ways to set our listings apart from the inventory that is out there and PVRM is a great way to separate our listings from the rest. ” Beran explained.

“Not to mention the fact that it works”!  Beran stated. We have recently listed and sold two properties within weeks of applying the creative pricing which asks the sellers to place their listings in a range instead of the fixed price that is the norm.  Value range pricing is designed to draw more showings, attract more offers, open negotiations and get the property sold for the maximum sale price possible.

Our first property was a townhome that was listed as – Seller will entertain offers between $139,900 and $149,876. This property sold for $140, 000 after being converted about 3 weeks into PVRM.  The second property was a single family home listed as – Seller will entertain offers between $159,900 – $179,876. This property sold for $167,500 after only a couple weeks on the market.  We are listing residential properties, land and commercial and investments properties with this strategy.

With the success of these sales, we look forward to more sellers working with us to market their properties with Prudential Value Range Marketing.  Getting the property to the market is the easy thing…getting is sold is another. Check out more information about this innovative process.

Kay Beran & Parker Dunahay, the President & Vice President of the Pinehurst-Southern Pines Association of Realtors (PSPAR) Mulitple Listing Service (MLS) committee, discuss the value and breadth that our local MLS system provides to both our buyers and sellers. Also… great tips about the new PSPAR website, www.move2moore.com.

 Trends in Moore County underscore national survey data showing consumers more concerned about home prices, interest rates and unemployment 

Southern Pines , NC —The expiration of the 2010 Home Buyer Tax Credits on April 30 is unlikely to put off Moore County area residents looking to purchase homes, according to Prudential Gouger O’Neal & Saunders Real Estate.  This reflects the results of a new Prudential Real Estate and Relocation Services, Inc., a Prudential Financial, Inc. [NYSE: PRU] company, national survey which reveals that consumers believe now is a good time to buy and are confident that home prices will rise.  The survey of 1,000 Americans between the ages of 25-64 with at least $35,000 household income was conducted during April 15-20, 2010.

In the national survey more than 90 percent of consumers believe that the home buyer tax credits have helped both first-time home buyers and the U.S. housing market overall. Among consumers actually shopping for homes, 65 percent believe that the end of the tax credits will have little or no effect on their interest in purchasing a home.

While consumers remain unsure about the direction of the housing market, the survey reveals that they are optimistic about real estate values with 46 percent of consumers expecting real estate prices in their area to increase over the next year.  Just 12 percent expect prices will decline.  Over the next five years, 79 percent expect real estate prices to increase, with 20 percent expecting that prices will increase substantially.

 “The federal home buyer tax credits clearly played an important role on a national and local level,” said Kay Beran, president of Prudential Gouger O’Neal & Saunders Real Estate.  “The survey data shows that overall consumers believe the market has hit bottom and are more optimistic about the future.”

Survey respondents identified concerns about rising mortgage interest rates and unemployment as the most important factors affecting their decision to purchase a home, along with more stringent lending criteria and fewer mortgage-backed securities purchased by the Federal Reserve.  The expiration of the tax credits placed lowest on their list of concerns.  Among those who have recently purchased a home, 61 percent cited low mortgage interest rates as “very important” to their decisions – an amount greater than either the tax credit or even cheaper prices.  The 66 percent expecting interest rates to rise underscores potential headwinds for the market.

Despite the significant downturn in the real estate market, the survey underscores that the dream of home ownership and the perception that owning a home is a good investment remain intact.  Among current renters, 75 percent still believe owning their home is a better long-term choice for their needs than renting.  The majority of consumers also believe that homeownership is a better investment than individual stocks or bonds (75%), mutual funds (72%), or savings accounts (74%).

“While the tax credits clearly helped stimulate the market, the more pressing concerns of people looking at homes in our area are the availability and cost of financing, as well as if they will have a job,” added Beran.  “Despite the market downturn, consistent with the national survey data, the majority of our clients are more confident and, importantly, continue to believe that owning a home is a good investment.”

The Prudential Real Estate Outlook Survey was conducted online. The margin of error is+/- 3 percent. A more detailed breakdown of the data is available, as well as supporting charts and visuals, at www.news.prudential.com.

Prudential Gouger O’Neal & Saunders Real Estate is an independently owned and operated member of The Prudential Real Estate Affiliates, Inc. Recognized as one of the top real estate companies in the Moore County, it has achieved its position in the industry through the commitment and dedication of its associates to outstanding customer service since 1971. Originally named Gouger & O’Neal Real Estate, the company was founded in 1963 by Wally O’Neal with one office. In 1971, William P. Saunders, Jr. acquired Gouger & O’Neal Real Estate and became a major force in the Moore County Real Estate industry. Subsequently, Gouger O’Neal & Saunders affiliated with Prudential Real Estate in 1995. 

Prudential Real Estate and Relocation Services, Inc. is Prudential’s integrated real estate brokerage franchise and relocation services business. Prudential Real Estate franchises are independently owned and operated. Companies are selected based upon outstanding performance records, high levels of customer service and shared business values with those of Prudential. Prudential Real Estate is one of the largest real estate brokerage franchise networks in North America, with nearly 1,700 franchise offices and approximately 60,000 sales professionals in the franchise Network as of Dec. 31, 2009.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with approximately

$667 billion of assets under management as of Dec. 31, 2009, has operations in the United States, Asia, Europe, and Latin America. Leveraging its heritage of life insurance and asset management expertise, Prudential is focused on helping individual and institutional customers grow and protect their wealth. In the U.S., the company’s Rock symbol is an icon of strength, stability, expertise and innovation that has stood the test of time. Prudential’s businesses offer a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, investment management, and real estate services. For more information, please visit www.news.prudential.com.

This market information details the properties that are on the market in Pinehurst and Pinehurst Area and the firms that represent the properties. 

For additional highlights in this market, see our latest digital magazine produced for some of the premier properties listed by Prudential Gouger O’Neal & Saunders. This magazine was distributed in Moore County and to over 500 Fine Homes Specialists in the Prudential Real Estate Network.  This is a powerful way to draw attention to our beautiful area and our spectacular properties.