In recent weeks their has been a significant uptick in sales activity throughout the area. Specifically, the Ocean Ridge Plantation community has scored 5 homes sales and 3 homesite sales in just 10 days!
While some analysts attribute the increase in sales activity to investors returning to the market place, I believe that due to the tight lending guidelines and large down payment requirements by banks, it is more likely that the pent-up demand by retirees is beginning to resurface.
The several transactions that I have been involved with reveal that there is a real resurgence of interest in acquiring real estate and taking advantage of low interest rates and depressed market value.
One large production home developer indicated to me that August proved to be their best sales month since 2oo5, which was the height of the recent real estate boom. I suspect much of their success was due in part to their price points and the first-time home buyer incentives, but it does demonstrate a change in attitudes toward buying real estate.
Filed under: Brunswick County Real Estate, Brunswick County Real Estate, North Carolina Coastal Real Estate, Ocean Ridge Plantation, Southeast North Carolina Real Estate
I agree that the market is starting to turn. Mortgage rates are attractive for qualified buyers. A realtor client of mine reminds me often it’s about location location location.