Lake
Gaston real estate update: The potential buyer activity has
increased slightly despite the winter weather we have experienced thus far. We’ve
survived the Winter and now we are shouting – Spring is almost here! We hope it will usher in an increase of
buyers in search of property on Lake Gaston.
In February, we had 17
properties in the Lake Gaston area make it to the closing table totaling $5,128,480. This included 9 waterfront homes, 1 offshore
home, 1 waterfront lot and 6 off-shores parcels. One of the waterfront homes closed at
$1,640,000. In February of 2012, we had
12 properties close for $2,875,225. In
the first two months of 2013 there have been 33 properties sold totaling
$10,190,130 compared to 24 in the same period of 2012 totaling $6,192,225. This represents an increase of 37.5% in unit
sales and an increase of $64.6% in dollar sales.
A few people have asked
where I get these numbers. The figures
come from our Multiple Listing Service (MLS). The numbers represent properties
sold, in all four quads of Lake Gaston, by all firms and all agents. The numbers are property specific, not firm
or agent specific. For example, if a
Lake Gaston real estate firm sells a property in Warrenton or Littleton, these
numbers are not included. Also excluded are private sales by individuals.
The National Association of
REALTORS® reported Existing Home Sales declined 1.0% in December but
edged up in January by 0.4%. NAR also
reported Pending Home Sale Index fell 4.3% in December and increased 4.5% in
January. Always remember that these are
National numbers and real estate sales are very local. The good news housing is recovering, the
recovery will be slow and we hope steady.
When you are serious about
selling your property Spring is always the perfect season to list it. Your
property should be in good condition and priced correctly from the start. Consult
your full-time REALTOR® for current market information.
Once your house is on the
market, we hope you get an offer from a potential buyer. The first price
negotiation may occur at this point. The second negotiation might take place
after the buyer completes a home inspection. Often buyers make the sale
contingent on a satisfactory inspection. If the home inspector finds issues,
the buyer will ask you, the seller to make the necessary repairs. I always
recommend having a home inspection before you place your house on the market.
Always use a qualified, licensed home inspector. The inspectors in the Lake
area normally charge between $250 and $400 depending on the size of the
home. This way you will know any issues
that exist and can correct these issues before you negotiate the sales price with
the buyer. This also gives the buyer a
little “peace of mind”. If your home has a basement I also recommend having a
radon test. If the radon test shows
radon levels are above 4.0 pci it is your responsibility to remediate to
correct the problem. The test should
cost in the $100 range and mitigation system will be in the $1,500 range.
I
feel it is to the seller’s advantage to have the home inspection and radon test
done before listing the property. Plus, a buyer may be encouraged to make an
offer when they know the seller has already addressed any issues.
Barney is a REMAX On The Lake REALTOR - you can reach him at 252-532-3274 or www.barneywatson.com
