Top Ten Reasons to Retire to New Bern, NC

There are a myriad of reasons to choose New Bern, NC for retirement. We have listed ten for your consideration.

Churches. Our faith communities are important to our area. We have a large Catholic parish and most major protestant churches are well represented. There is a local synagogue. The culture and history of New Bern have and are greatly influenced by our churches.

Life Style. New Bern is a small town with many large city amenities. While the city has less than 30,000 citizens it has the regional shopping for more than 100,000. Recreation and golf opportunities are plentiful.

History. Our city has celebrated its 300th birthday in 2010. You will find many examples of homes and structures built hundreds of years ago. The royal governors mansion has been restored and there is a NC History Center on the Trent River waterfront.

Beauty. New Bern is located on the confluence of two coastal rivers. The waterfront and historic properties have made New Bern gorgeous. Our city leaders have spent the past fifty years maximizing our appeal.

Water Sports. The Neuse River is a mile wide as it passes by our downtown. At its mouth it is the widest river in North America. The Trent River flows into the Neuse. Fishing, Sailing, Paddle Boarding, Kayaking and Water Skiing are enjoyed.

Culture. The arts are alive in our city. Several theater groups frequently give performances. Music is available  in many styles including orchestras, brass bands, small ensembles, blue grass, country, beach and rock bands. Sculptors and painters have both made New Bern their home.

Military Friendly.  MCAS Cherry Point is located 20 miles to the east of our city and fourty miles to the south is Camp LeJune. Exchanges and military medical facilities are easily accessible. The people of our area appreciate active duty military and veterans.

Transportation. New Bern is served by the Coastal Carolina Regional Airport. Both Delta and US Air have daily flights. US Highway 70 is a four lane controlled access route that heads west to I-95 and beyond. US Highway 17 gives access to the north and south. Our rivers connect to the inter coastal water ways, Pamlico Sound and the Atlantic Ocean.

Health Care. New Bern is served by Carolina East Medical Center. Almost every specialty is represented. Less than one hour away is the Vidant Health. It is a teaching hospital connected to East Carolina University. Less than than three hours away you have hospitals attached Duke, UNC and Wake Forest University.

Affordable. Prices have lowered over the last four years and interest rates are at an all time low. We can help you find a great home and negotiate a fabulous price.

Email or phone (252 635 1100) to begin your search today.

Your Invited

Times have been tough. The flow of retirees coming to our great city has been slow the past three and a half years. Many have theorized that most were waiting for their market to recover. Recent election results indicate that change will be slow and not sudden. These potential newcomers will still face higher property and income taxes in their home state. I feel most have been waiting to retire. Now facing much of the same for another four years they will be compelled to accept the new reality and sell their home and finally retire.

The good news is they can still get a bargain here. Interest rates are the lowest I have seen in my career. I believe we will see a steady flow of retirees moving south once again. So for any retirees or potential retirees who might read this I say,

"Your Invited"

6 Tips for Buying a Home in a Short Sale

By: G. M. Filisko

Published: March 19, 2010

By preparing for a real estate short sale, you can emerge with a great home at a favorable price.

1. Get help from a short sale expert

A real estate agent experienced in short sales can identify which homes are being offered as short sales, help you determine a purchase price, and advise you on what to include in your offer to make the lender view it favorably. Ask agents how many buyers they've represented in short sales and, of those, how many successfully closed the transaction.

2. Build a team

Ask agents to recommend real estate attorneys knowledgeable in short sales and title experts. A title officer can do a title search to identify all the liens attached to a property you’re interested in. Because each lienholder must consent to a short sale, a property with multiple liens, like first and second mortgages, mechanic’s and condominium liens, or homeowners association liens, will be harder to purchase.

A title search may cost $250 to $300 up front, but it can help weed out less desirable properties requiring multiple approvals.

3. Know the home’s fair market value

By agreeing to a short sale, lenders are consenting to lose money on the loan they made to the sellers to purchase the home. Their goal is to keep those losses as low as possible. If your offer is dramatically less than the home’s fair market value, it may be rejected. Your agent can help you identify the price that’s good for you. The lender will determine whether approval is in its best interest.

4. Expect delays

There are two stages to a short sale. First, the sellers must consent to your purchase offer. Then they must submit it to their lender, along with documentation to convince the lender to agree to the sale.

The lender approval process can take weeks or months, even longer if the lender counteroffers. Expect bigger delays if several lienholders are involved; each can make a counteroffer or reject your offer.

5. Firm up your financing

Lenders will weigh your ability to close the transaction. If you're preapproved for a mortgage, have a large downpayment, and can close at any time, they’ll consider your offer stronger than that of a buyer whose financing is less secure.

6. Avoid contingencies

If you must sell your current home before you can close on the short-sale property, or you need to close by a firm deadline, your offer may present too many moving parts for a lender to approve it.

Also, consider ordering an inspection so you’re fully informed about the home. Keep in mind that lenders are unlikely to approve an offer seeking repairs or credits for such work. You’ll probably have to purchase the home “as is,” which means in its present condition.

This article includes general information about tax laws and consequences, but isn't intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Consult a tax professional for such advice; tax laws may vary by jurisdiction.

G.M. Filisko is an attorney and award-winning writer who luckily has avoided the need for a short sale on her properties. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.

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Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

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Do-It-Yourself Home Security Check: 5 Essential Steps

By: Joseph D'Agnese

Published: November 12, 2010

Conduct a do-it-yourself home security check by walking around your house to assess what needs to be done to reduce the risk of a break-in.

1. Keep your home well-maintained on the outside

Burglars want an easy target. Stand on the street outside your house and ask yourself: Does my property look neglected, hidden, or uninhabited? A front door or walkway that’s obscured by shrubbery offers crooks the perfect cover they need while they break a door or window. To improve security, trim shrubs away from windows and widen front walks.

2. Install motion detector lights

All sides of your house should be well-lit with motion-activated lighting, not just the front. Simple motion-activated floodlights cost less than $50 each, and installing them is an easy DIY job if the wiring is already in place.

3. Store your valuables

Thieves want easy-to-grab electronics, cash, jewelry, and other valuables, though some are not above running down the street with your flat-screen TV. Most make a beeline for the master bedroom, because that’s where you’re likely to hide spare cash, jewelry, even guns. 

Tour each room and ask yourself: is there anything here that I can move to a safe deposit box? Installing a home safe ($150 to $500) that’s bolted to your basement slab is a good repository for items you don’t use on a daily basis.

4. Secure your data

While you probably won’t be putting your home computer in a safe anytime soon, take steps to back up the personal information stored on it. Password protect your login screen, and always shut off your computer when not in use (you’ll save energy, too!) Don’t overlook irreplaceable items whose value may hard to quantify, like digital photos.

5. Prepare ahead of time in case the worst happens

• Take a photo or video inventory of items of value in your home, and store the file online or in your home safe. Check that you’re properly insured for theft. Note that high-ticket items in your home office, such as computers, professional camera equipment, or other business essentials, may require an additional rider or a separate policy.
• 
  

Joseph D’Agnese is a journalist and book author who has written numerous articles on home improvement. He lives in North Carolina.

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Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

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Mini Storage - How Much Space?

There are several basic sizes of storage units. Below is a quick-reference guide to help you plan what size unit you will need for your personal or business storage:


Storage of Personal Items

• 5' x 5' (25 sq. ft.) – Will hold a chest of drawers, a small mattress set, boxes and small items. Useful for garden tools, or seasonal decorative items.
• 5' x 10' (50 sq. ft.) – Will hold furnishings of a mid-size bedroom, including a queen-size bed, dresser, TV, and a few storage boxes.
• 10' x 10' (100 sq. ft.) – Will hold the contents of an entire family room or two full bedrooms.
• 10' x 15' (150 sq. ft.) – Will hold the contents of up to three bedrooms in this unit. Recommended for larger items such as pianos, couches, tables, or large-screen TVs.
• 10' x 20' (200 sq. ft.) – Will hold the contents of a five-bedroom house, including a refrigerator, washer/dryer, dining room table, chairs and large boxes.

Storage of Business Items

• 5' x 5' (25 sq. ft.) – Will hold the contents of a large office closet filled with files, books, office chairs, and a few storage boxes.
• 5' x 10' (50 sq. ft.) – Will hold the contents of one office room, including desks, bookcases, filing cabinets and large storage boxes. Ideal for storing equipment and tools.
• 10' x 10' (100 sq. ft.) – Will hold the contents of an entire office, including desks, chairs, computers and a few storage boxes.
• 10' x 15' (150 sq. ft.) – Will hold the contents of three office rooms could fit in this size unit, including several desks, computers and boxes.
• 10' x 20' (200 sq. ft.) – Will hold the contents of five office rooms (desks, computers, bookcases and file cabinets) in this size, or a five-year supply of business and tax files.

It is always a good idea to visit potential storage units to get a visual sense of the space you will be working with.


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2009 vs. 2010 in Craven County Real Estate

For this comparison I examined residential sales in Craven County for 2009 and 2010. The average price decreased by 2.5%.  The total sales volume decreased by 7%. The average days on the market remained virtually the same.

Even  though the market continued its decline, the pace of that decline has slowed. Listening to financial news it seems as though the markets are improving. Apparently corporations have lots of cash sitting on the sidelines waiting to determine the direction the new congress will take. Many businesses are reporting substantial profits having cut expenses for the last two years. We are certainly primed for a recovery. Accurately forecasting the peaks and troughs of the markets are very difficult. I believe we are near the bottom and perhaps past it. I will advise my clients to buy. Interest rates will increase over the next twelve months. I believe the best time to buy real estate is now.

I would be interested in your opinion please leave a comment.

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4320 Elizabeth Avenue New Bern, NC 28562

Great new home constructed by Crayton and Company. 1400 square feet of heated space for $128,900 Three bedrooms and two baths in a great floor plan. The owners association provides the yard maintenance for $300 per year. Imagine not having to mow your own yard. Open floor plan creates a wonderful family atmosphere. 




Call me at 252 635 1100 to see this home or visit my Website. Check out our Facebook Page.

Why did the Master Bedroom move upstairs?

How did it get downstairs?



The New Bern real estate market has always been fairly unique. For most of my career our market demanded a master on the ground floor. We had a variety of ranch and story and a half floor plans. Only the historic or larger homes were truly two story homes. Many of these still had ground floor masters.



Men like Paul Crayton, Guion Lee, Frank Efird, Lonnie Pridgen, Tommy Karam and others put New Bern on the map as a place to retire. Port O’ Pines, later Treasure Cove and then Fairfield Harbour started the great migration. River Bend and Trent Woods began to entice retiring seniors to put down roots in our great community. Soon Weyerhaeuser began Greenbrier and many other areas that increased the flow. The one thing that these buyers required was a ground floor master bedroom. Since the retirees were the driving force of our market, resale potential required others to insist on downstairs accommodations.



Then the bubble burst!



The days of competing offers were over. That nasty pendulum swung from sellers to buyers. Prices began to fall. Our four decade flow of retirees stopped. They were no longer ready to sell their homes at post bubble prices and move. Sales of existing homes were much lower than the prices contractors needed to produce the designs they had been building. For years builders had been adding the features that made their homes superior to competitors and older homes. Buyers paid the price because the homes were going up in value and inflation would cover the expense with future gains.



A new design was needed.



It was necessary for builders to build more efficiently. Most spent hours designing, estimating and redesigning floor plans. The result has been two story homes with tuck under garages. These plans lower the price by having an upstairs master. The current driving force in the New Bern market are people who are moving here for jobs. I see Marines, Sailors, hospital employees, manufacturer workers, educators, and service job workers. Most are younger with children. Many mothers want the baby and younger ones in a room that is close. They have been quick to accept having all the bedrooms on the second floor. Builders have found that this new type of plan can be built for a lower price than many are asking for the resale of existing pre bubble burst homes. Younger buyers have consistently chosen space over features and curb appeal.



Will the master bedroom move back downstairs?



The answer is yes. When retirees accept the new reality of the housing market and find that continuing to wait to move is unacceptable, we will see them again. They will again demand a downstairs master. This will create struggles for our appraiser friends. Comparing homes of the same amount of square feet of heated space, you will find that the one with the downstairs master will cost between $8,000 to $12,000 more. Unless the appraiser recognizes the value of that feature it will be difficult to cover a downstairs master bed room home‘s cost. The cost of a garage area that is not tucked under is also much higher.



The adept builder will recognize when retirees again begin to drive the market. When that day arrives the master bedroom will move back downstairs.



by Gary Barker
Gary has been selling real estate in New Bern since 1977


Visit my website http://www.gary-barker.com/

Listing Prices have fallen

Trulia reports that listing prices have fallen in the last three weeks.

Sellers are competing for a limited number of buyers. The lower listing price helps insure that their home will be shown more often. Local Realtors are working hard to get their clients home sold. They realize that more homes are on the market than it will absorb. Proper pricing and well placed advertising will get the job done.

New Bern Homes For Sale

Sellers would be well advised to have their Realtor show them how many homes sold in their price range in the last 120 days. Compare those numbers to homes listed in the same price range. Together they can decide on the proper course.

by Gary Barker
Gary has been selling real estate in New Bern since 1977


Visit my website http://www.gary-barker.com/

Buying and Storing Firewood

Knowing how to evaluate, buy, and store firewood is key to the safe, efficient operation of your fireplace, wood stove, or fireplace insert.






Before picking up the phone, it’s important to know exactly what you want to purchase so that you can clearly express that to the wood seller, says Matt Galambos, a Maine arborist certified by the International Society of Arboriculture. This includes determining the quantity, species, and condition of the firewood, all of which affect its price.



How much to buy

Homeowners who intend to heat their homes through the use of a wood stove naturally will require more firewood than those who burn only the occasional fire for pleasure. A person living in the Northeastern U.S. who burns firewood as his or her primary heat source, for example, may require up to five cords of wood to get them through the season. In contrast, a weekend-only fire builder can likely get by on as little as a half-cord. Galambos estimates that for the casual but steady fire builder, one cord of wood should easily last through winter.



Measuring a cord of wood

A cord of wood is defined as a stack of cut firewood that measures 4 feet tall by 4 feet wide by 8 feet long, or any other arrangement that equals 128 cubic feet. The individual pieces must be stacked side by side rather than the looser crisscross style. Other measurement terms, such as ricks, racks, face cords and piles, have no legal meaning and are often banned by state weights and measurements agencies. Regardless what the load is called, says Galambos, it should always be converted to cords or fractions thereof so that homeowners can determine if they are getting a fair price.



Seasoning the wood

Freshly cut wood is composed largely of water. Not only is this “green” wood difficult to ignite, but burning it can lead to a dangerous buildup of creosote, the cause of chimney fires. Properly “seasoned” firewood is wood that has been cut to length, split, and allowed to air dry for at least six months until the moisture content dips to around 20%. Dry wood will appear grayish in color and the pieces will begin to exhibit splits and cracks on the ends. Compared to freshly cut wood, seasoned wood feels light for its size.



Though seasoned firewood is the only choice for immediate use, green wood shouldn't be completely ignored, says Galambos. “If you have the room to store it and the time to dry it, buying green firewood can save you up to 25% compared with seasoned wood,” he says.



Hardwood vs. softwood

It's a common misconception that burning soft woods, such as pine and cedar, leads to dangerous creosote buildup. As long as the firewood is properly seasoned, it can safely be burned in a fireplace or stove regardless of species, says Dr. John Ball, Professor of Forestry at South Dakota State University. But that doesn’t mean that all wood is created equal.



“Tree species differ widely in the amount of heat they produce when burned,” says Ball. Hardwoods like oak, maple, and madrone produce almost twice the heat compared with softer woods, such as spruce, pine, and basswood. Fires built with hardwood not only burn hotter, they last longer, meaning the wood pile won’t get depleted as fast. Homeowners can expect to pay a premium for 100% hardwood, but Ball cautions against purchasing cheaper “mixed-wood” loads that may contain little actual hardwood.



Storing firewood

Homeowners should consider storage long before the firewood delivery truck appears in the driveway, cautions Galambos. A cord of wood takes up a significant amount of space, and if not properly stored your investment will quickly begin to rot. Firewood that is not stowed in a protected space like a garage or shed needs to be six inches off the ground. Firewood racks or simple pallets work well. If exposed to the elements, the wood pile should be at least partially covered with a waterproof tarp. Experts caution against storing the wood too close to the house for fear of inviting pests.



Average prices

Homeowners can expect to pay $75 to $150 for a half-cord and between $150 and $350 for a cord of hardwood delivered and stacked. To save some money, a person with a large truck may elect to pick up his or her own load at the wood lot.



To verify the quantity, species, and condition of the firewood, it's wise to arrange the delivery for a time when you're home. Experts say, inspect the wood for type and condition before it's unloaded, though quantity can only be accurately measured after it's stacked.



Maximize your fireplace efficiency

It’s true that a traditional wood fireplace can never rival the energy efficiency of a wood stove or even a fireplace insert, but there are ways a homeowner can trim heat loss. Fire-resistant glass doors not only reduce the volume of heated home air that escapes up the chimney, they help radiate heat back into the room. Similarly, a thick cast-iron fireback is an old-fashioned device that absorbs and emits energy in the form of radiant heat. Check the fireplace damper for leaks and always tightly seal it when the fireplace is idle.



Note about invasive pests

Forestry experts like Dr. John Ball strongly encourage homeowners to buy only local wood (wood from within a one- or two-county range) to prevent the spread of pests like the Asian longhorned beetle and emerald ash borer.


By: Douglas Trattner
Douglas Trattner has written extensively about home improvement topics for HGTV.com, DIYNetworks, and the Cleveland Plain Dealer. During the 10-year stewardship of his 1925 Colonial, he estimates that he burned through 15 cords of wood. Most, he promises, was properly seasoned hardwood.

Visit houselogic.com for more articles like this.

Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

Visit my website http://www.gary-barker.com/





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Find the Home Loan that Fits Your Needs

Understand which mortgage loan is best for you so your budget is not stretched too thin.

The basics of mortgage financing


The most important features of your mortgage loan are its term and interest rate. Mortgages typically come in 15-, 20-, 30- or 40-year lengths. The longer the term, the lower your monthly payment. However, the tradeoff for a lower payment is that the longer the life of your loan, the more interest you’ll pay.



Mortgage interest rates generally come in two flavors: fixed and adjustable. A fixed rate allows you to lock in your interest rate for the entire mortgage term. That’s attractive if you’re risk-averse, on a fixed income, or when interest rates are low.



The risks and rewards of ARMs

An adjustable-rate mortgage does just what its name implies: Its interest rate adjusts at a future date listed in the loan documents. It moves up and down according to a particular financial market index, such as Treasury bills. A 3/1 ARM will have the same interest rate for three years and then adjust every year after that; likewise a 5/1 ARM remains unchanged until the five-year mark. Typically, ARMs include a cap on how much the interest rate can increase, such as 3% at each adjustment, or 5% over the life of the loan.



Why agree to such uncertainty? ARMs can be a good choice if you expect your income to grow significantly in the coming years. The interest rate on some—but not all—ARMs can even drop if the benchmark to which they’re tied also dips. ARMs also often offer a lower interest rate than fixed-rate mortgages during the first few years of the mortgage, which means big savings for you—even if there’s only a half-point difference.



But if rates go up, your ARM payment will jump dramatically, so before you choose an ARM, answer these questions:



How much can my monthly payments increase at each adjustment?

How soon and how often can increases occur?

Can I afford the maximum increase permitted?

Do I expect my income to increase or decrease?

Am I paying down my loan balance each month, or is it staying the same or even increasing?

Do I plan to own the home for longer than the initial low-interest-rate period, or do I plan to sell before the rate adjusts?

Will I have to pay a penalty if I refinance into a lower-rate mortgage or sell my house?

What’s my goal in buying this property? Am I considering a riskier mortgage to buy a more expensive house than I can realistically afford?

Consider a government-backed mortgage loan

If you’ve saved less than the ideal downpayment of 20%, or your credit score isn’t high enough for you to qualify for a fixed-rate or ARM with a conventional lender, consider a government-backed loan from the Federal Housing Administration or Department of Veterans Affairs.



FHA offers adjustable and fixed-rate loans at reduced interest rates and with as little as 3.5% down and VA offers no-money-down loans. FHA and VA also let you use cash gifts from family members.



Before you decide on any mortgage, remember that slight variations in interest rates, loan amounts, and terms can significantly affect your monthly payment. To determine how much your monthly payment will be with various terms and loan amounts, try REALTOR.com’s online mortgage calculators.


By: G. M. Filisko


G.M. Filisko is an attorney and award-winning writer who’s opted for both fixed and adjustable-rate mortgages. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics.



Visit houselogic.com for more articles like this.


© Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®



Visit my website www.gary-barker.com

8 Tips for Finding Your New Home

A solid game plan can help you narrow your homebuying search to find the best home for you.




1. Know thyself



Understand the type of home that suits your personality. Do you prefer a new or existing home? A ranch or a multistory home? If you’re leaning toward a fixer-upper, are you truly handy, or will you need to budget for contractors?



2. Research before you look



List the features you most want in a home and identify which are necessities and which are extras. Identify three to four neighborhoods you’d like to live in based on commute time, schools, recreation, crime, and price. Then hop onto REALTOR.com to get a feel for the homes available in your price range in your favorite neighborhoods. Use the results to prioritize your wants and needs so you can add in and weed out properties from the inventory you’d like to view.



3. Get your finances in order



Generally, lenders say you can afford a home priced two to three times your gross income. Create a budget so you know how much you’re comfortable spending each month on housing. Don’t wait until you’ve found a home and made an offer to investigate financing. Gather your financial records and meet with a lender to get a prequalification letter spelling out how much you’re eligible to borrow. The lender won’t necessarily consider the extra fees you’ll pay when you purchase or your plans to begin a family or purchase a new car, so shop in a price range you’re comfortable with. Also, presenting an offer contingent on financing will make your bid less attractive to sellers.



4. Set a moving timeline



Do you have blemishes on your credit that will take time to clear up? If you already own, have you sold your current home? If not, you’ll need to factor in the time needed to sell. If you rent, when is your lease up? Do you expect interest rates to jump anytime soon? All these factors will affect your buying, closing, and moving timelines.



5. Think long term



Your future plans may dictate the type of home you’ll buy. Are you looking for a starter house with plans to move up in a few years, or do you hope to stay in the home for five to 10 years? With a starter, you may need to adjust your expectations. If you plan to nest, be sure your priority list helps you identify a home you’ll still love years from now.



6. Work with a REALTOR®



Ask people you trust for referrals to a real estate professional they trust. Interview agents to determine which have expertise in the neighborhoods and type of homes you’re interested in. Because homebuying triggers many emotions, consider whether an agent’s style meshes with your personality. Also ask if the agent specializes in buyer representation. Unlike listing agents, whose first duty is to the seller, buyers’ reps work only for you even though they’re typically paid by the seller. Finally, check whether agents are REALTORS®, which means they’re members of the NATIONAL ASSOCIATION OF REALTORS®. NAR has been a champion of homeownership rights for more than a century.



7. Be realistic



It’s OK to be picky about the home and neighborhood you want, but don’t be close-minded, unrealistic, or blinded by minor imperfections. If you insist on living in a cul-de-sac, you may miss out on great homes on streets that are just as quiet and secluded. On the flip side, don’t be so swayed by a “wow” feature that you forget about other issues—like noise levels—that can have a big impact on your quality of life. Use your priority list to evaluate each property, remembering there’s no such thing as the perfect home.



8. Limit the opinions you solicit



It’s natural to seek reassurance when making a big financial decision. But you know that saying about too many cooks in the kitchen. If you need a second opinion, select one or two people. But remain true to your list of wants and needs so the final decision is based on criteria you’ve identified as important.


By: G. M. Filisko
G.M. Filisko is an attorney and award-winning writer who has found happiness in a brownstone in a historic Chicago neighborhood. A frequent contributor to many national publications including Bankrate.com, REALTOR® Magazine, and the American Bar Association Journal, she specializes in real estate, business, personal finance, and legal topics
<><><><><>Visit houselogic.com for more articles like this.

© Copyright 2010 NATIONAL ASSOCIATION OF REALTORS®

Visit my website www.gary-barker.com

Why Move Up Now?

Should I move up to a better home now?
Now is the time. While most properties have decreased in value, consider this scenario. You live in a home that was worth $150,000. and is now worth $135,000. You will notice that $15,000 of equity was lost. Now consider the home in which you might wish to live. It use to be worth $250,000. Now it has a value of $225,000. It has moved downward $25,000. If purchased you have benefited by $10,000. Eventually when property values recover your benefit will be $25,000 while if you stayed your recovery will be $15,000.

How would it work?
You may be thinking, that may be fine, but will my home sell? The answer is yes. Homes sell, even today, if priced correctly and advertised properly. The services of a highly skilled Realtor is required. This means pricing your home where it will attract the attention of a buyer. Does this mean that I have to sell at $135,00? Yes but the good news is you don't have to accept an offer that is to low. Once you have accepted an offer you can go shopping. There are plenty of motivated sellers of properties. Your Realtor Buyer's Agent will help you to get a fantastic buy on a home that you will enjoy.

What if the market doesn't recover?
I don't believe this. Which home would you enjoy living in for the next 10 years? Most people can get a mortgage at a lower interest rate for a new purchase than the one they currently have. Would you prefer to pay a lower interest rate long term? I believe that we will experience inflation at some period in the future. Inflation devalues the dollar. The only way the country can pay back its debt is to inflate the value of new products and services by deflated the value of the dollar. If this thesis holds true, your dollars value will decrease and your home value will increase.

Don't wait. Now is the time.

Visit my website www.gary-barker.com

Kitchens are Back

My clients have been requesting larger kitchens. This may come from a variety of societal changes. People are watching the Food Channel. Americans desire to eat healthier. Many are choosing to go back to the basics, in some cases all the way to organic. I believe that the center of home life may become the kitchen. We are seeing younger couples with larger families. We have also seen some multi-generational families. The economy may be driving many away from restaurants and take out. So when building or buying look for larger kitchens that will accommodate the family chef and those they visit with while cooking. Visit my website for great information about the New Bern, NC market. www.gary-barker.com

My First Post.

Welcome to my blog. It is my hope that this blog will help my clients and friends to understand the real estate market in New Bern. Our market is a great deal different than it was just a few short years ago. Retirees used to be a much larger portion of our market. Because of the national economic downturn, it seems they are not yet willing to accept the current prices in their market areas. Of course many still have very significant gains in the value of their homes. Still having missed the peak of their value many are not ready to accept the present values. They also continue to hear the news that it is a Buyer's market. I expect that they will soon tire of waiting for a major recovery and begin to sell. They will be ready to begin a new phase of their lives and many will join us in enjoying the New Bern area. I believe we will begin to see a return of the reirees in the spring. In my next blog I will discuss how these trends have effected the styles of homes demanded by buyers. For my information about the New Bern area visit my website http://www.gary-barker.com/ .