Impending housing shortage in New Bern, NC.
With all the news about how bad the real estate market is I know you must think I have lost my mind when I predict a housing shortage in the New Bern, NC area.
The real deal is, it’s already here!
Using absorption rates( the time it takes to sell inventory), or turn rates it’s easy to predict how long it will take to sell a house based on how many there are available for sale.
A six months supply is usually considered a “balanced” market. In other words there is a demand and adequate supply for that demand.
In the New Bern market there is already a shortage of NEW homes priced from $160,000-179,999 and also from $180,000-199,999. In addition there is also an impending shortage of NEW inventory priced from $220-239,000.
I know you probably will not believe it but the numbers do not lie. We have under a 6 months supply for sale in all three categories.
The same principles can be used on existing homes for sale and this makes that free Competitive Market Analysis(CMA) obsolete.
All REALTORS® are not equal, so hire one that knows absorption rates, how to use them to your advantage and can get your real estate problems handled!
Long Leaf Pines
Earlier this week I met and had the pleasure of talking to one of the active builders in the Long Leaf Pines subdivision located near New Bern, N.C.
Jeremy Jackson was on the job site of one of his new homes underway in Long Leaf Pines. This two story home when complete will feature 4 bedrooms, 2.5 baths, 9 foot ceilings, zoned HAVC system and a fireplace.
Mr. Jackson is currently building very nice homes in the Long Leaf Pines development with a price range of $150k to $200,000.
This new home development is between Taberna and Carolina Colours two moderately expensive golf course communities in the 70 East Corridor.
The newest school to built in Craven County, Creekside Elementary is right down the street. Long Leaf Pines is 15-20 minutes from Cherry Point and 10-15 minutes from most stores in New Bern.
Other developments that JC Jackson Builders LLC are actively working in include, Brice’s Crossing, Forest Run, Maple Farms, and JCJB Select Lots.
If you’d like to visit Long Leaf Pines please give me a call at 252-617-2086.
It is obvious that Jeremy Jackson takes pride in his homes, and gives attention to the details. You can learn more about JC Jackson Builders at: http://www.jcjackson.com/
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Jeremy Jackson, builder, stands beside fireplace
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Long Leaf Pines
You can see more Long Leaf Pines homes and other neighborhoods in that price range at : http://www.cherrypointrelocation.com/communitypages/longleafpinesbricescreekarea.html
Entry at Croatan Crossing New Bern NC
Today was a beautiful Carolina blue afternoon so I went out and visted new home construction sites. I decided to check out the Croatan Station subdivision and happened to meet Mr. Len Reason, builder/developer.
Len said that the project is approved for 204 lots and 30 to 40 townhomes. The development will have public sewer, County water, electricity by Progress Energy and cable ( as the development builds out).
The price range is $150,000 to $225,000 and several homes are under construction now with first occupancy planned for early December. Townhomes when built will start in the $130,000′s.
Mr. Reason said his homes would have Energy Star rated appliances which should reduce energy consumption by 25%.
This development will be idea for people working in New Bern and is only about 9 miles from MCAS Cherry Point via the 4 laned U.S. Hwy 70 East. Several boat ramps and golf courses are nearby as well as the beaches of Carteret County and Coastal Carolina Regional Airport.
Now is the time time to pick out your lot and house plans! If you need more information about this new home development, please send me an e-mail homerray@c21zr.com or give me a call.
Would’nt you really rather buy a “NEW HOME?”
Croatan Crossing has new homes from $150k-$225k
