Real Estate Update.

Steve Tyson’s Real Estate Update


For selected subdivisions

Neuse Harbour

Active homes for sale by price range

Current number of homes on the market=13

Pending sales=1

Active homes for sale by price range

$182,000-$200,000=1

$209,000-$250,000=6

$254,900-$300,000=2

$$300,000-$1,225,000=4

There was 1 home that sold and closed in Neuse Harbour in the last 12 months. The sales price was $232,800



Stately Pines

Current homes on the market=6

Pending sales=1

Active homes for sale by price range

$164,000-$200,000=3

$202,000=1

$669,500=1

$769,000=1

There were 10 homes that sold and closed in Stately Pines in the last 12 months. The most expensive house sold was $214,250.

Carolina Pines

Current homes on the market=22

Pending sales=2

Active homes for sale by price range

$107,500-$150,000=5

$157,900-$200,000=2

$229,000=1



There were 18 homes that sold and closed in Carolina Pines in the last 12 months. The highest priced home sold was $265,000.

Tucker Creek

Current homes on the market=4

Pending sales=3

Active homes for sale by price range

$110,000-$150,000=1

$165,000-$200,000=3

$245,000-$289,000=2

There were 15 homes that sold and closed in Tucker Creek in the last 12 months. The highest priced home sold was $275,000.

Total homes sold January 1-Nov. 29 2009=1118

Total homes sold January 1-Nov. 29 2010=1108

During the same time frame in 2011=1107 homes have been sold.

There are currently 1312 homes listed for sale in our multiple listing service. This number is down from about 1550 In prior months. We are selling homes at a rate of about 100 a month so there is still a large inventory on hand. A buyers market is defined as more than 6 months of home inventory. It is definitely a buyer’s market as we currently have 13 months worth of inventory.

On the plus side, interest rates are still incredibly low, prices have become more reasonable, and we have a nice selection of homes to choose from.

Feel free to call or email me if you would like to have a customized absorption rate or a Comparable Market Analysis for your property. Home sales in each neighborhood can vary greatly.




Realtor Steve Tyson

The Tyson Group Realtors

Thoughts on a Sunday

I was wondering when this was going to happen.

Home Auction in Scardale

The sellers of 20 Sage Terrace, just around the corner from the Greenacres Elementary School and a 12 minute walk to the train and shops, are auctioning their beautifully renovated home.

Are there sales happening in Scarsdale? Yes. But regardless what you are hearing, it is slow and painful. And with the current economic climate, there are going to be more acts of desperation in the future.

Speaking of our current economic climate, if you go Gawker, it seems that happy days are here again. Do not believe the hype. As this NYT articles indicates people are holding onto to their cash.

In Cautious Times, Banks Flooded With Cash

Purely anecdotal, but the model during a down real estate market is that the people with the cash jump in to start cherry picking for bargains. That is happening but I do know of people with the big money are sitting this one out. It is not due to a lack of bargains, but the fact is this economic climate is not the most pleasant for real estate investing. With the climate as chaotic as this, it might be best to stay as liquid as possible instead of locking it up in an asset.

The term "work out" is being thrown a lot these days. The big players who are barely holding onto to their properties are in talks with their lenders. It is in everyone's best interest to keep the peace and figure out a solution that does not involve turning in the keys.

Occupy Wall Street. I empathize their cause and outrage. However their approach is quite flawed.

First of all, they are too late because there is no money out there. This whole debacle could have been avoided a long time ago if these people had organized and began putting in the economic fail safes in place. Right now they are just racking overtime for NYPD and hurting small businesses.

They claim they are against corporate greed however they are playing into the hands of corporations. With all the bad publicity they bring against banks, there are forces out there who are taking advantage of chaos and are shorting bank stocks. There is definitely something or someone influencing the situation.

And try as they might, they do not represent the 99%
Occupy Wall Street Struggles to Make ‘the 99%’ Look Like Everybody

It is not the bottom of the economic barrel that is rebelling, it is the layer above who have had the rug pulled underneath them. But the rug was being pulled inch by inch until it was too late.

I am not the biggest fan of the Tea Party, but they got their s**t together real quick and devastating with their actions.

Occupy Wall Street Protest Reaches a Crossroads

What they have now is not sustainable. Eventually, they will need a vertical command structure and they will have to move beyond Zucotti Park.