Real Estate Information

Greenville, North Carolina Real Estate Blog

The Pistol Tingen Team

Blog

Displaying blog entries 1-10 of 78

As evidenced by the charts below, the Greenville, North Carolina and Pitt County area single family real estate market is getting better. When comparing single family home sales year to date with last year to date, significant improvement is apparent. The number of closed sales are up 40% and sales volume is up a whopping 49% compared to this time last year. The prices of single family homes showed improvement as well, increasing by 7%.  For townhomes and condominiums the news is not as rosy. There were no major changes and that market remains somewhat flat. 

For home sellers, the signs shown by the numbers are encouraging. More homes are selling, quite often quicker and for more money.  For home buyers, prices are still a bargain and mortgage interest rates remain at historically low levels. The dream of home ownership can be a reality while being as affordable as ever. 

Please give us a call us if we can be of further assistance.

 


Interest Rates Stop Falling and Start Rising

by Pistol Tingen

After a slow steady decline, interest rates started to head up this week. But they're still incredibly low and with home prices still down, it's a great time to buy.

What's New In Greenville 9/16/2011

by Anthony Litz

 

Greenville, NC and East Carolina are growing! Let's take a look at a few new businesses and restaurants.


The Facts:

  • Tastyville Pizza –Pizza Buffet just opened a couple weeks ago. - 1605 E Firetower Rd, Greenville, NC 27858 - (252) 364-8704- http://www.tastyvillepizza.com/ Tastyville Pizza Buffet Greenville NC
  • Mazatlan Mexican Restaurant will be opening a new location in the Arlington Village Shopping Center on the corner of Red Banks and Arlington Blvd - Greenville, NC – (252) 551-3190 - http://mazatlannc.com/
  • The Carolina Ale House is opening this weekend in front of the Greenville Mall, off of Greenville, Blvd. It looks very nice! - 704 SE Greenville Blvd, Greenville, NC 27858 - Phone 252-317-0005 - http://www.carolinaalehouse.com/greenville-nc  Carolina Ale House Greenville NC Opens
  • Pete's Wicked BBQ on Red Banks is now open. (note: The Winterville location is temporarily closed.) 610 A Red Banks Rd, Greenville - 252-353-5353 - http://www.peteswyckedgrill.com/  Pete's Wicked BBQ Greenville NC
  • AT&T Wireless is building a new location at the intersection of Arlington and Greenville Blvd, with-in the Big Lots Shopping Center - http://www.att.com/ AT&T Wireless Greenville NC Arlington and Greenville Blvd Intersection AT&T Wireless Greenville NC
  • BoneFish Grill Restaurant has plans to open a location in the Greenville Square Shopping Center. (aka K-Mart Shopping Center) - http://www.bonefishgrill.com/
  • Mellow Mushroom is coming. It is suppose to be near the the intersection of Arlington and Greenville Blvd. Apparently plan's have been submitted to the City of Greenville for approval. - http://www.mellowfranchise.com
  • Chick-fil-A is currently building a new Winterville, NC location across the street from Sam's Club off of Hwy 11. Due to open Oct 27, 2011 - 4253 Winterville Pkwy, Winterville - http://www.chick-fil-a.com/
  • O'Reilly Auto Parts is about to open a new location near Winterville off of Fire Tower Rd. - 1908 E Fire Tower Rd, Greenville, NC 27858 -  (252) 215-0837 - http://www.oreillyauto.com  O'Reilly Auto Parts Store Greenville NC

Planning Stages & Rumors
  • Dairy Queen is possibly going to build near the Sheetz gas station, across from Pitt Community College on Hwy 11. - http://www.dairyqueen.com
  • Sonic is looking at land for a 4th location in Greenville... - http://www.sonicdrivein.com
  • Ayden, NC is due to get a Wal-Mart Express.  There has been a lot of utility work and land prep seen behind Food Lion and Kerr Drug where the the Wal-Mart would be located. - http://www.walmart.com/
  • Greenville also has a second Wal-Mart location in the works off of Portertown Rd and Hwy 33. - http://www.walmart.com/

 

Got a tip? Or want to see your business on a list like this? Contact us on the website or call at 252-321-6161, we would love to help!

Please understand all information in this article is deemed reliable but not guaranteed.

Pitt County School Calendar 2011-2012

by Anthony Litz

 

Pitt County School Calendar 2011-2012The new Revised Pitt County Public School Calendar has been released. 

Click here for the PDF that you can print or download to your PC.

From the Pitt County School's Website:

July 12, 2011 - The State Budget Bill (House Bill 200) that was ratified on June 4, 2011, includes language that impacts school calendars for ALL school districts effective next school year.

The new legislation increases the minimum number of instructional days from 180 to 185 and the minimum number of instructional hours from 1,000 to 1,025.  Left in place are the parameters that school for students must not start before August 25th and must not end after June 10th.

With some disclaimers and waiver opportunities to the State Board of Education included, the legislation essentially eliminates the 5 days that were previously added to the calendar for protected teacher workdays.   Stricken from §115C-84.2 (School Calendar) as a result of this legislation is the following:  “Five days, as designated by the local board, for use as teacher workdays, These days shall be protected to allow teachers to complete instructional and classroom administrative duties.  The local school administrative unit shall not impose any additional tasks on these days.  The local board shall schedule one of these days at the beginning of the school year and one at the end of each academic quarter.”

Many groups lobbied to postpone the effective date of this action until the 2012-13 school year, as most all school districts had already approved and distributed their 2011-12 school calendars, but that did not occur.  However, the State Board of Education advised that it would be approving temporary waivers to this new requirement for districts that commit to using the five additional days to train teachers on the Common Core and new essential standards.  (The State Board also advised it will not be as flexible in future years.)

Pitt County Schools submitted a waiver request that was approved by the State Superintendent of Public Instruction meeting the required guidelines by providing a detailed “Scope of Work” plan showing how the waived instructional days will be used for professional development on the essential standards and the Common Core.  The new essential standards and Common Core standards are scheduled for classroom implementation in the 2012-13 school year.

The immediate impact of this action is that we must adjust our 2011-12 Calendar for Students and 10-Month Employees in several ways.

  • In accordance with the waiver approved from the State Superintendent, the following teacher workdays will be used for staff development on the essential standards and Common Core instruction. 
  •   October 28, January 18, March 2, March 23
  • December 19th will be added as an instructional day for students.  This was previously an unscheduled day. Corresponding with the changes above, make-up days for inclement weather have been adjusted as well as the placement of system designated workdays and the last day for staff.

Click here to review the revised calendar which reflects these revisions. This will be reprinted and redistributed to parents and students. We recognize there may be some confusion as the school calendar was already set, printed, and previously distributed.  We will do everything we can to communicate the correct dates and we will need your help as well. We also will need your help explaining that this late action was not a local decision but rather was directed by General Assembly legislation.

Foreclosures Are Low, But Inventory is High

by Anthony Litz

 

Foreclosures are down Graphic

Nearly 8% of U.S. mortgages were at least 30 days past due in April but not yet in foreclosure. That was slightly higher than in March, but 16% more than last year, LPS Applied Analytics, which tracks the mortgage market.

Seriously delinquent loans - more than 90 days past due or already in foreclosure - also represented nearly 8% of loans in April. That was down slightly from March and up 11% from a year ago, LPS says.

 Less delinquency eventually set new housing market recovery, but that's far away. About 4.2 million loans are seriously delinquent or in foreclosure. At current sales rates, which will take four years to absorb the inventory, LPS says.

"There is still much water in the boat, but at least we have connected some of the leaks," says Herb Blecher, senior vice president LPS. "Now we can rescue the company out."

Almost 4 million homes have been repossessed by lenders as the housing market began to tank in 2006.

Falling house prices are more likely to drive late payment. "There are a lot of incentive for people to leave their homes," says IHS Global Insight economist Patrick Newport.

However, other factors may slow the arrears, including:

 • Fewer new problem loans. For every 100 loans that were current in November, 1.28% due 60 days in April, data show LPS. That's the lowest percentage in at least three years below the peak of almost 3% in January 2009. Rates for new problem loans are the highest in Nevada, Arizona and Florida.

 • Loan modifications. In April, 22.5% of loans were more than 90 days in arrears one year had become current. That figure was 12.6% in April 2010, LPS, said. Last year, nearly 1.8 million homeowners received a loan modification, 42% from 2009, says the hope and the alliance of mortgage servicers, investors and others. loan modifications often include lower interest rates or longer loan terms.

 • Improved quality of loans. Lenders have tightened lending standards for borrowers who receive loans are less likely to default.

 In April, less than 2% of loans in 2010 was delayed after 12 payments. At the same age, over 6% of loans in 2007 and 2008, there were criminals, the data indicate LPS.

SOURCE: USA Today

Foreclosures Slow Due To New Regulations

by Anthony Litz

 

The foreclosure process is taking longer than ever, which is slowing the foreclosures from coming to market.foreclosure time line calendar

 Recently there is an average 400 day period from the default notice until the day the bank reclaims the property. "That's up from 340 days a year ago and more than double the average 151 days it took to foreclose in the first quarter of 2007, at the start of the nation's foreclosure crisis.", says USA Today.

Experts say the the added delays although increase the homeowners time without monthly payments, the bank and loan-owner's losses become greater.

"April foreclosure activity hit a 40-month low, mainly because of processing delays, RealtyTrac CEO James Saccacio says. Default notices, scheduled auctions and bank repossessions were reported on 219,258 properties in April, down 34% from a year ago."

"In some cases, lenders are taking longer to begin foreclosing on loans more than 90 days delinquent because they're waiting longer to allow for modifications or short sales — when lenders take less for a house than what's owed — or other alternatives, Saccacio says."

 

Call The Pistol Tingen Team at 252-321-6161 or send us an email if you would like any information regarding the subject of foreclosures.  We are a wealth of information; please don't hesitate to contact us with any questions or for advice.

 

Resources: USA TODAY,

ECU Offers Online Classes in Virtual 3D World, Second Life

by Anthony Litz

Landlords Gladly Rent to the Foreclosed

by Anthony Litz

 

google map to real pro systems The rental market in Greenville and Pitt County is H-O-T right now.

More than three quarters (82%) of the independent owners say they hire someone who lost a house in foreclosure, if the applicant had traditionally a good credit rating, according to a survey published today by the National Association of Independent Business Owners.

"The owners generally do not rent to applicants with poor credit and a foreclosure absolutely Slam someone scores. The exception is when they see people who have paid their bills all his life but lost his job, can not meet your mortgage and must hand over the keys to the bank, "said Tracey Benson, president of the National Association of Independent Business Owners.

Although the recent credit problems, Benson said, applicants with a foreclosure can be a good hazard, especially because I did once had its own home: "These people are used to taking pride in where they live often lost their jobs and homes through no. beyond their control. "

Increasingly, mortgage defaults due rather to the loss of jobs that poorly equipped borrowers who lost their homes that never should have bought, "said Benson. A background check, as conducted by the National Association of Independent Business Owners indicate in which class an applicant falls, and if the financial problems are part of a recent spate of bad luck or a trend throughout life.

"Because of this abundance of default, there is a higher need for rent, so that owners carefully vet applicants, " said Benson.

The National Association of Independent owners polled 563 members from 21 March to 25 March 2011.

 

+About The National Association of Independent Landlords

The National Association of Independent Landlords is the country's largest provider of services for small landlords.  Services include credit reports, electronic rent collection and tenant screening as well as information about property management, rental laws in all 50 states and other issues critical to property owners. Visit us at www.landlordassociation.com or call 800.352.3395.

SOURCES: http://www.landlordassociation.com - http://www.prnewswire.com - http://www.realtor.com

 

 

More than three quarters (82%) of the independent owners say they hire someone who lost a house in foreclosure, if the applicant had traditionally a good credit rating, according to a survey published today by the National Association of Independent Business Owners.

"The owners generally do not rent to applicants with poor credit and a foreclosure absolutely Slam someone scores. The exception is when they see people who have paid their bills all his life but lost his job, can not meet your mortgage and must hand over the keys to the bank, "said Tracey Benson, president of the National Association of Independent Business Owners.

Although the recent credit problems, Benson said, applicants with a foreclosure can be a good hazard, especially because I did once had its own home: "These people are used to taking pride in where they live often lost their jobs and homes through no. beyond their control. "

Increasingly, mortgage defaults due rather to the loss of jobs that poorly equipped borrowers who lost their homes that never should have bought, "said Benson. A background check, as conducted by the National Association of Independent Business Owners indicate in which class an applicant falls, and if the financial problems are part of a recent spate of bad luck or a trend throughout life.

"Because of this abundance of default, there is a higher need for rent, so that owners carefully vet applicants, " said Benson.

The National Association of Independent owners polled 563 members from 21 March to 25 March 2011.

30-Year Fixed-Rate Mortgage Drops to 4.8%

by Anthony Litz

MCLEAN, Va., April, 21 2011 /PRNewswire/ -- Freddie Mac (OTC: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), which shows mortgage rates dropping after four consecutive weeks of inching higher.  

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 4.80 percent with an average 0.7 point for the week ending April 21, 2011, down from last week when it averaged 4.91 percent. Last year at this time, the 30-year FRM averaged 5.07 percent.  

 

  • 15-year FRM this week averaged 4.02 percent with an average 0.7 point, down from last week when it averaged 4.13 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent.  

 

 

  • 1-year Treasury-indexed ARM averaged 3.16 percent this week with an average 0.6 point, down from last week when it averaged 3.25 percent. At this time last year, the 1-year ARM averaged 4.22 percent.  

 

Average commitment rates should be reported along with average fees and points to reflect the total cost of obtaining the mortgage. Visit the following links for the Regional and National Mortgage Rate Details and Definitions.

Quotes

Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac.

  • "Low inflation is keeping mortgage rates at bay. The core consumer price index rose just 0.1 percent in March, below the market consensus forecast. The 12-month growth rate in core prices was 1.2 percent, which is also rather low by historical standards.

 

 

Get the latest information from Freddie Mac's Office of the Chief Economist on Twitter:  @FreddieMac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.

Find more information about Freddie Mac at http://www.freddiemac.com

SOURCE Freddie Mac

Fannie Mae Announces 3.5% Buyer Assistance

by Anthony Litz

Washington, DC — Fannie Mae announced today that people purchasing a Fannie Mae-owned HomePath property will receive up to 3.5 percent in closing cost assistance. The initial offer must be submitted on or after April 11, 2011; and the sale must close on or before June 30, 2011 to be eligible for the incentive. Additionally, buyers must reside in the home as their primary residence (sales to investors are excluded).

"Attracting qualified buyers to the market and reducing the inventory of vacant homes remains essential to stabilizing neighborhoods and helping the market recover," said Terry Edwards, Executive Vice President of Credit Portfolio Management. "Since interest rates remain low, the incentive will go a long way toward helping even more families buy a new home so this is a great time for Fannie Mae to offer some assistance."

All Fannie Mae-owned HomePath properties are listed on HomePath.com and most listings include detailed property descriptions, photographs, community and school information, and more. In addition, many Fannie Mae-owned properties are eligible for special HomePath Mortgage and HomePath Renovation Mortgage financing, which offers homebuyers an opportunity to purchase with as little as 3 percent down.

Displaying blog entries 1-10 of 78

Prudential Prime Properties,   Greenville, NC, 2625 Charles Blvd.

Disclaimer