At Gay Realty Watch, we look for news to share with you about the gay real estate market – both lgbt real estate news and news specific to gay and lesbian real estate meccas. If you have a gay real estate story that you’d like to share with us, contact us at firstname.lastname@example.org. Today, in our ongoing series about local real estate markets, we’ll take a look at home sales and trends on the Central Atlantic Coast.
In Georgia, builders are seeing slow but steady growth, GPB News reports:
Steve Palm, president of the real estate research firm Smart Numbers, says he expects double digit growth in the Atlanta, Columbus, Savannah, Macon and Augusta markets this year. “Builders have taken advantage of low priced lots that have been foreclosed on by the lenders that they can now buy at a pretty good rate.”he says. Palm says inventory of existing homes is down, so that means builders are seeing greater demand for new homes.
WTOP reports on short sales in Maryland:
Foreclosures have been hampering the housing market for years now, but another type of distressed property is seeing an uptick. Short sales, where a bank agrees to let a property sell for less than what is owed on the mortgage, are on the rise. Realty Trac’s Daren Blomquist says foreclosure sales were down 44 percent in Maryland from the previous years, while short sales made up 28 percent of all home sales in Maryland.
Down in North Carolina, SB Wire reports that coastal property is a good buy in the state:
“When you compare property along the North Carolina coast to that in California or Florida, our real estate prices are better and the insurance is a whole lot better, even after the rate increase,” said Wilmington NC Realtor Chris Oliver… Rate increases will vary, states a report in WilmingtonBiz.com. The average hike is seven percent with all increases to take effect July 1, the website states. “Certainly someone looking to buy a home is going to factor the insurance cost into that home. But when that person is looking at buying a coastal community home, they know they are going to have a higher insurance premium than someone on the western end of the state,” said the Kure Beach Realtor.
Over at the Seattle Post Intelligencer, they’re reporting on some of the great reasons to move to Western North Carolina:
There are hundreds of artists who live near the best of Asheville NC and they don’t mind welcoming you into their art studios. For example, in downtown Asheville, NC along the French Broad River in the River Arts District, you’ll find 165 year round working artist studios. Thirty minutes to the north in Burnsville NC, the Toe River Studio Tour takes place twice a year where you’ll find 100 more local artists opening their studio doors to the public.
In South Carolina, home prices were up 7% in January year over year, the Charlotte Observer reports:
Home prices in South Carolina rose 7 percent in January compared to the previous year. North Carolina home prices, meanwhile, rose a more modest 3.1 percent during the same time. The figures include distressed sales, such as foreclosures. Excluding distressed sales, U.S. home prices increased on a year-over-year basis by 9.0 percent in January compared to a year earlier.
In Virginia, the Sun Gazette reports that Northern VA home sales are up:
With a lack of inventory still a looming issue, some prospective home-buyers got an early start on the spring season across Northern Virginia. Sales across the region in February were up, if modestly, from a year ago, while the average and median sales prices showed more robust growth, according to figures reported March 11 by RealEstate Business Intelligence, an arm of the local multiple-listing service.
The Sun Gazette also reports that the DC housing market continues to be hot:
Home sales and average sales prices across the inner D.C. metro area showed strength as winter began to transition into spring, with solid, if not spectacular, growth compared to a year before. Both total sales and average prices were up compared to February 2012, according to figures reported March 11 by Real Estate Business Intelligence, an arm of the local multiple-listing service. The result: Total sales volume for the month stood at $1.16 billion, an increase of 17.6 percent from a year ago.