WASHINGTON, D.C. (February 3, 2015) – Despite interest rates being at their lowest level of 2014, pending home sales cooled in December but remained above year-over-year levels for the fourth consecutive month, according to the National Association of Realtors®. All major regions experienced declines in December.
The Pending Home Sales Index,* a forward-looking indicator based on contract signings, decreased 3.7 percent to 100.7 in December from a slightly downwardly revised 104.6 in November but is 6.1 percent above December 2013 (94.9). Despite last month’s decline (the largest since December 2013 at 5.8 percent), the index experienced its highest year-over-year gain since June 2013 (11.7 percent).
Your insurer is demanding consent for a higher premium – what are your options?
An increasing number of North Carolinians are receiving “consent to rate” letters from their homeowners insurance companies. These letters inform consumers that unless they consent to pay premiums higher than the state maximum set by the Insurance Commissioner, the insurance company may drop the consumers from their coverage plan.
If you receive one of these letters, don’t panic, but don’t ignore the letter. Instead, take a few simple steps to ensure you receive fair and affordable coverage for yourself and your family.
Three simple steps to take if you get a “consent to rate” letter:
By Sherri Pickard, GRI, SFR, CDPE
2015 President, Wilmington Regional Association of Realtors
WILMINGTON, N.C. (January 16, 2015) – When analyzing eleven major zip codes in our region – 28401, 28403, 28405, 28409, 28411, 28412, 28451, 28480, 28428, 28449, and 28443 – an average of the zip codes shows for the year-end of 2014:
- Our average sales price has increased by 4.6% from year-end 2013.
- Of the 5,000 sellers in 2014 – 34.0% paid some sort of concession toward the purchase of the house.
- Our list to sales price ratio for year-end is 96.20%, a decrease from 96.37% for year-end 2013.
- The average list price of the sold properties is $273,531 and is up 4.8% from year-end 2013.
- The average number of days a property remained on the market for the year was 119 days, compared to 121 days for year-end 2013.
- The median sold price of $217,250 for year-end has increased 8.6% from year-end 2013.