Q & A

How is the market?   Our 2010 market is steady in terms of price and we have excellent inventory to select from.  The numbers look good for a repeat performance of what was sold in 2009. Home values in Pinehurst, North Carolina reflect great value and sustainable prices.

Click to download 2nd Quarter Market Report 

In the News: 

Interest rates are at historically low rates - just what is needed to a fuel to our home selling market.  Rates for the 30 year fixed are under 5% for many mortgage products.  FHA and VA mortgages are being used for many of the home priced under $300,000 and purchases for our military families who are moving to Moore County.  The military work force is set to increase in 2011, called BRAC, and we are writing more contracts for resale and new construction for military families in larger numbers than in the prior year. They love Moore County for their families!

The Tax Incentive worked.  The final deadline of contracts signed by April 30, 2010 and closing by June 30, 2010 gave our market a good boost. According to NAR, 47 percent of homebuyers in 2009 were first-time buyers. Moody’s Economy.com projected that the number of homes sold to first time homebuyers at 1.84 million. As of now, those who did not close on time to get the credit have a 90 extension to make it happen.

We are anticipating a more stable market for the future but also need to aware of the influx of short sale and foreclosure properties – in particular with builder spec homes for the near future. For more details on the future of the market…read on.

Moore County Local Report: Hear our recent radio interview!

Buyer or Seller Market: Buyer

Average Time on the Market: 181 days for Residential, higher for land and commercial. See the Pending Trend Report. 

Market Trend: Buyer activity –  stable. No more tax credits but sellers are “pricing right”.  Note the return of Value Range Marketing by Prudential Gouger O’Neal & Saunders!  We have successfully used this for homes in our market.

Housing Inventory: Good Supply. Many price adjustments. Few new construction starts.

Average Sold Home Price in 2010: $242, 736.   Sales volume for 2009 vs 2010

Best Selling Price Range: $100,000 – $300,000 (2009) – same for 2010 thus far

Sold Price as a % of Asking Price: 94% (2009) and 94% 2010

Multiple Offers: Rare

Short Sales: On the rise, builder’s homes are most likely subjects.

Greatest Activity: First time buyers, move up buyer, single family properties, and military families from Fort Bragg.