As I sit in my office compiling stats for my end of the year market report it is interesting to note which subdivision has been the hot spotof activity this past year.  Here in the town of Historic Edenton, a town of 5000 residents with a land area of 5 miles, 3 golf courses within 25 minutes and water on just about all sides, the subdivision seeing the most consistent sales activity in 2009 is the Mill Village. The Mill Village is comprised of some 56-60 properties nestled in amongst some six streets well within walking distance of downtown Edenton and Edenton Bay. As you enter the village the mood generated is one of warmth and charm.  The streets are lined with trees leading into neat well kept yards showcasing charming homes painted a variety of pastel colors.  Historically, Edenton... 12/30/2009

Since last writing I've been busy with a closing and lots of showings.  I also helped one of my buyers, who moved here from the state of Washington, unload their moving truck.  Now that my back is stiff and sore (they had some monster furniture) I thought it might be a good time to catch up on my blog!   Real estate showing activity increased over the last 3-4 weeks but sadly is now showing signs of slowing.  Last weekend I showed three different sets of buyers around the Albemarle area.  Two were looking for second homes and one was looking for land to build a retirement home on.   First time homebuyers, who need to close by November 30th to benefit from the tax credit, are seeing the window of opportunity about to close.  There is no word yet on whether or not the tax credit will be e... 10/28/2009

With recent news reports that the housing market is improving and prices are increasing I thought it might be good for someone in the trenches to weigh on the current status of the housing market.  At least how it is playing out in northeast, NC. I've been in real estate since June of 2005 and below is what I see. There are several areas to consider when reporting on the housing market.  First is the area in which you wish to buy or sell.  Every area and market is different with its own set of specifics.  Because of this variable you cannot simply read up on the "national" housing situation and consider yourself fully informed.  The national market offers possible trends and patterns but remember the figures are pulled larger metro areas. In my piece of the northeast, NC real estate pie... 08/31/2009

The quality of a location has a lot to do with what that "location" has to offer.  For example, would you want to live in a location where there are few if any good restaurants, no movie theaters, no navigable water and heaven forbid, no golf courses?!!  Of course not!   Edenton, however, has a lot of amenities to offer.  For example there are not one, but three golf courses within 30 minutes.  The closet is only 12 minutes outside of town!   There are numerous rivers and streams that empty into Edenton Bay and from there head out to the Albemarle Sound.  The waters are brackish and offer access to the intracoastal waterway.  Edenton also offers two marinas and various seasonal fishing tournaments.  Recently a small group of residents have begun kayaking every Wednesday evening.   Not i... 08/24/2009

Off and on I have been reading a book by (I've forgotten the author's name) about Starbucks and their operating philosophy.  One of their principles is that of making each Starbucks location a "third" place.  In other words, a place where you like and want to go to hang out or relax.  The other two places are work and home! In Edenton, NC we don't have a Starbucks (we are too small for the coffee house giant!) however, we do have Edenton Coffee!  Edenton Coffee has become a third place for a lot of the locals.  It is located on Broad St (the main street through town) and you can walk in and get a good cup of coffee including mochas, lattes and all the other fancy coffee drinks.  Home made pastries are sold as well as coffee varieties, cups, shirts, hats, etc.  Chairs and tables are outs... 08/07/2009

They say (whoever "they" is) that every storm cloud has a silver lining.  And so it is true with the slowly passing housing market crunch.  For example, prices which had been going absolutely crazy have now settled to modest levels. In fact, one home builder I know is building new ranch style, 3 bed, 2 bath homes with attached double car garage and frog on half acre lots for $165K to $185K. Wow!  A new home for $165K!!  These are quality homes and yes, they are selling! A second silver lining is that first time home buyers have been courageously taking the plunge and buying homes. Personally, I have worked with five since the beginning of the year and as buyers they have been great! One survey showed that 43% of all buyers have been first time home buyers!Then, finally, there is a great... 07/29/2009

If you bumped into me at the grocery store and said, "Hey Tom, how are things in the real estate business?" I would reply, "Unbelievable!' In my little chunk of northeastern, NC the average sold price for homes in the first half of 2009 is $135,388. The median sales price is $108,000 and there are 156 new listings that have come on the market since January. That translates into an extremely affordable housing market for both local people and those looking to move to a warm climate from another state. I have helped five first time home buyers become home owners and watched as they cashed in on the first time home buyer's tax credit. Talk about some happy and excited new home owners!!! Land sales throughout the county and neighboring counties remain flat and if you had ever thought about ... 07/25/2009