Status of the Raleigh, Triangle NC Real Estate Market

The Real Estate market today in the Triangle of North Carolina is very competitive. By the time the listing shows in MLS it is already sold. In other cases, the listing agents are putting homes in the MLS but not allowing showings for several days. When the day arrives, buyers are lined up down the street to get into the property. This, of course, is good for the sellers because it is creating a bidding war driving prices up higher than the list price. It is one of the most competitive markets FOR HomeBUYERS has ever experienced making it very difficult for our home buyers.

Inventory is very tight. New construction is priced over $400K almost exclusively. Lower priced resale homes are just not going on the market as fast as in the past, possibly because the move up price range is out of reach.

It is a Seller’s world in the Raleigh real estate market and throughout the Triangle of North Carolina.

For more information or assistance with purchasing a home text or call Allen Shaver at 919-219-9878.

Durham, Chapel Hill Home Sales Led Triangle in February

Real Estate Inc. Report: Durham, Chapel Hill home sales led in growth of Triangle in February

With spring and summer buying season around the corner, Raleigh, Durham, Chapel Hill home sales in the Triangle are revving up earlier than usual.

Homes sales in February were up 11 percent compared to the year prior with 2,047 homes sales recorded within the the 16-county region tracked by Triangle Multiple Listing Service.

It was the strongest February sales month since 2008.

The bulk of the new home sales growth was in Durham and Orange counties where 275 homes and 92 homes sold in the month, respectively. For Durham, it was a 34 percent increase over the year prior. For Orange County, it was an 18 percent increase over the year prior.

Home sales in Wake County, where more than half of the region’s home sales occur, was up 4 percent with 1,098 homes sold in February.

The price of new and existing homes sold in the Triangle also continues to escalate with the change in median sales price up 9.4 percent to around $216,450 in February and the change in average price up 6 percent to $252,342.

That will probably be the lowest price rates of the year, though, since January and February are usually among the slowest sales months of the year. In 2015, the median sales price for a home sold in the Triangle peaked at around $231,000 in June. The average home price for that month almost topped $270,000.

At the same time, the inventory of homes listed for sale in the Triangle is still way below normal with only a 2.8-month supply of inventory available in February, according to MLS, meaning that potential buyers have fewer options from which to choose.

Amanda Hoyle covers commercial and residential real estate for Triangle Business Journal. Follow her on Twitter @TBJrealestate

If you are considering a relocation to the Raleigh, Durham, Chapel Hill, Triangle area of North Carolina, consider using an Exclusive Buyers Agent. One who will have only your interests, needs and desires in mind. Exclusive Buyer Only Agents never take listings or work for a listing company, therefore, no conflict of interest can occur. FOR HomeBUYERS has represented Home Buyers exclusively since 1991 and pioneered Exclusive Buyer Representation in Wake County.
To contact us call or text 919-219-9878 today for a no obligation private consultation about our services. You may email Allen@ForHomeBuyers.com.

 

Raleigh-Durham is No. 4 ‘Best Places to Live’

The Raleigh-Durham area is No. 4 on U.S. News’ 2016 “Best Places to Live.”

Rankings of the 100 most populous U.S. cities, released Wednesday, are based on five factors: job market, value, quality of life, desirability and net migration. Data was derived from the U.S. Census Bureau, the FBI, the Bureau of Labor Statistics, previous U.S. News rankings on best schools and best hospitals, and a public survey of “thousands” of individuals across the U.S.

The Raleigh-Durham area is No. 4 on U.S. News’ 2016 “Best Places to Live.”

Raleigh-Durham’s highest scores are in desirability and net migration.

About two-thirds of the U.S. population resides in one of the metro areas on the list. The top five “best places” are Denver; Austin, Texas; Fayetteville, Arkansas; Raleigh; and Colorado Springs, Colorado.

Rebecca Troyer manages the day-to-day process of delivering the daily digital content and the weekly print edition. Troyer also handles inquiries on news coverage and newspaper deadlines. triangle/bio/17801/Rebecca+TroyerRebecca Troyer Managing EditorTriangle Business Journal.

If you are considering a relocation to the Raleigh-Durham-Triangle area of North Carolina, consider using an Exclusive Buyers Agent. One who will have only your interests, needs and desires in mind. Exclusive Buyer Only Agents never take listings or work for a listing company, therefore, no conflict of interest can occur. FOR HomeBUYERS has represented Home Buyers exclusively since 1991 and pioneered Exclusive Buyer Representation in Wake County.
To contact us call or text 919-219-9878 today for a no obligation private consultation about our services.

Wake County, NC is No. 8 for Millennial Home Buyers

Report: Wake County among top 10 national markets for prospective Millennial homebuyers

Wake County is one of the top 10 markets where Millennials are most likely to purchase homes in the next six months, according to a new report by real estate and financial research firm CoreLogic.

It is no surprise that Wake County, NC is No.8 for Millennial home buyers. Wake County includes some of the most desirable neighborhoods in NC: Raleigh, Cary, Apex, Morrisville, Wake Forest in North Carolina. All of these towns are conveniently located near Research Triangle Park which is an area for jobs, especially in the high tech fields.

“Markets that have a lower unemployment rate, lower foreclosures/delinquency rates and a higher year-over-year GDP increase are the most attractive to this younger demographic,” writes CoreLogic.

The report notes a shift from where Millennials are currently buying, “from cheaper areas that border the improving counties to the heart of the improving counties in which the housing market is more expensive.”

The top 10 markets for Millennials in the next six months:

  1. Douglas County, Colorado
  2. Prince William County, Virginia
  3. Fairfax County, Virginia
  4. Loudoun County, Virginia
  5. Hamilton County, Indiana
  6. Forsyth County, Georgia
  7. Placer County, California
  8. Wake County, North Carolina
  9. Boulder County, Colorado
  10. Williamson County, Tennessee

Rebecca Troyer manages the day-to-day process of delivering the daily digital content and the weekly print edition for the Triangle Business Journal.

If you are considering a relocation to the Raleigh-Triangle area of North Carolina, consider using an Exclusive Buyers Agent. One who will have only your interests, needs and desires in mind. Exclusive Buyer Only agents never take listings or work for a listing company, therefore, no conflict of interest can occur. FOR HomeBUYERS has represented Home Buyers exclusively since 1991 and pioneered Exclusive Buyer Representation in Wake County. To contact us call or text 919-219-9878 today for a no obligation private consultation about our services.

Raleigh Is 5th Top Destination for Career Professionals

Raleigh is the 5th top destination in US for career-oriented professionals, according to a new report by staffing firm Robert Half.

The rankings of 25 metros are based on 25 indicators in four general categories that influence career decisions and work-life balance: Career prospects, quality of life, cost of living and cultural diversity.

“With three well-known universities in the area, as well as close proximity to the Research Triangle Park, companies have access to a highly educated and diverse talent pool,” says Lauren Cassidy, senior regional vice president in the Raleigh-Durham area for the Menlo Park, California-based Robert Half International. “Many employers are attracted to the Triangle, and job opportunities have intensified. High tech, finance and education are major industries driving hiring in the area.”

The top four cities are Seattle, Boston, San Francisco and Washington, D.C.

This week, Raleigh was also named the fifth-best state capital in the U.S. by WalletHub, for similar reasons.

Rebecca Troyer manages the day-to-day process of delivering the daily digital content and the weekly print edition of the Triangle Business Journal. 

Contact FOR HomeBUYERS an exclusive buyer real estate company when relocating to the Raleigh, Triangle, NC area for a new job. We will only represent your interests. Call or text Allen Shaver at 919-219-9878 or email Allen@forhomebuyers.com.

 

Home Buying Tips For Moving Up or Downsizing in Raleigh, NC

Changing homes in the Triangle, NC area of Raleigh, Cary, Durham or Chapel Hill can be a very exciting and challenging process. The average time a family owns a home is around seven years so a lot of families who stay in an area end up selling their first home and moving to another, sometimes just a few miles away. There are many reasons people move locally: An addition to the family, a job change, divorce, children moving away from home, other life changes. If you fit into one of these categories you’ll be interested in the services of FOR HomeBUYERS an Exclusive Buyer’s Agecy. Let’s look closer at some of the dynamics of a local move:

Home buying tips for moving up or downsizing.

The primary reason people change homes is to have more space, but the move-up process also comes into play when a family wants to move to a better school system. Home buyers are also motivated to buy nicer homes when a job or career change makes a nicer home possible. Since you are already living in an area you often have a general idea about neighborhoods and home types, but you also benefit from having an inside line on the real estate markets in areas you consider. To choose the best home you want to have a real estate professional on your side.

The timing.

The ideal way to time a move-up purchase is to have a flexible buyer in place to buy your current home while you look for and negotiate a purchase of your new home. This way you have a good chance to be able to close on your current home and then rent the home from the new owner for a few days or weeks while you close on your new home. Unfortunately this is very difficult to coordinate.

If you are downsizing it sometimes makes sense to sell your large home and then move to an apartment or rental home briefly while you locate, negotiate, and close on your new smaller home. Even though this strategy has you moving twice it helps you clear your life of many of the belongings you might have acquired that you no longer want.

The financing.

Getting financing to make this project work is sometimes easy, however to make it work with the least total cost and the least inconvenience takes more thought and preparation. As mentioned above the best case is having a flexible buyer in place for your current home before you buy your new home. If you can arrange for the actual closing of your old home before the closing of the new home the loan process is usually easy. But, since the sale and purchase both have a lot of events which you don’t directly control it is usually a good idea to have a “plan  B” in place. This would be a way to close on the new home before the old home closes. These types of loan arrangements vary by market and by lender but as an example a lender may give you a line of equity on your current home that you can use as a down payment on the new home. Alternatively a lender may allow you to purchase the new home with a large loan and a smaller second mortgage. The large loan you would keep after the sale of the old home is completed but the small loan you pay off with your proceeds from the sale of your old home. For the best answers to these decisions talk to one of our FOR HomeBUYER’S  Exclusive Buyer’s Agents serving the Triangle and surrounding areas.

Finding the “perfect” home.

As a second or third time buyer you face some challenges that didn’t exist when you bought your first home. The primary one is that you now probably have some very distinct ideas of what you want and what you don’t want. The problem is that a house with everything you want and nothing you don’t want may not exist. To find a home that is the optimal compromise you really need an advocate who will help you objectively review and analyze the homes you visit. That is exactly why exclusive buyers agents are the best help available for a local buyer changing homes. Since an exclusive buyer agent does not list homes and does not represent any sellers they don’t have the huge conflict of interest that regular real estate agents have. Exclusive buyer agents don’t push you into homes. They take the time to understand your needs, explore the whole market of homes, and explain all the tactical options you should know about to make your move a success. To contact FOR HomeBUYERS you may text or call 919-219-9878.

Hottest Neighborhoods with Homes for Sale in Raleigh & Cary

That these three neighborhoods have been chosen as the hottest neighborhoods comes as no surprise to FOR HomeBUYERS, an exclusive Buyer Only Agency. We have shown and helped many Buyers purchase homes in these communities. The locations, the amenities, the schools and much more are very appealing to families and singles alike. For more detailed information or to preview homes for s in any of these neighborhoods contact us at 919-219-9878.

Cary Park, Umstead and Stonehenge are the hottest neighborhoods in the Raleigh-Cary market, according to real estate data and brokerage company Redfin.

Redfin’s predictions of the three hottest residential areas in each of the largest U.S. metros are based purely on the number of clicks and marked “favorites” by interested visitors to its website.

In Cary Park, located in the 27519 ZIP code in west Cary, the median sale price is $245,000, the median number of days on the market is 21 and the average percentage of sale-to-list price is 98.1 percent.

In Umstead, located in the Brier Creek area of west Raleigh, primarily in the 27617 ZIP code, the median sale price is $243,400, the median number of days on the market is 19 and the average percentage of sale-to-list price is 98.7 percent.

In Stonehenge, located in the 27613 ZIP code off Creedmoor Road in north Raleigh, the median sale price is $293,500, the median number of days on the market is 13 and the average percentage of sale-to-list price is 98.6 percent.

Rebecca Troyer manages the day-to-day process of delivering the daily digital content and the weekly print edition for Triangle Business Journal. Troyer also handles inquiries on news coverage and newspaper deadlines.

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Pulte, Triangle, NC’s, Largest Builder Just Got Bigger

As one of the largest Raleigh-Triangle-NC home builders, FOR HomeBUYERS, an Exclusive Buyer Agency, has sold many of this Builder’s New Home Construction. We are very familiar with their procedures and building methods.

When visiting a New Home Building Site, it is important to know the person with whom you are talking is working for the Builder NOT You. Therefore, it is imperative that you bring your own Buyer’s Agent when you visit with the intention of building or buying one of their new homes.

PulteGroup Inc. (NYSE: PHM) in January finalized its acquisition of about 7,000 new homes and home lots owned by move-up builder John Wieland Homes in five Southeastern metro areas, including the Triangle, in a deal that was valued at more than $430 million.

For the Triangle, the acquisition means that Pulte Homes has added 700 more home lots and land parcels owned by John Wieland Homes in Wake County at a value of more than $34.9 million, according to a review of county deed records. Sales data for the company’s lot acquisitions in Chapel Hill was not yet available.

Atlanta-based John Wieland Homes has been actively building in five neighborhood communities in Wake County, including two neighborhoods at Traditions at Wake Forest, another in Holding Village in Wake Forest, Woodcreek in Holly Springs, River Run in Raleigh and another at South Grove in Chapel Hill.

A spokeswoman for Pulte says the John Wieland sales and operations office in Morrisville remains open and staffed by John Wieland employees, and that the brand will continue to be used in many of Pulte’s high-end communities that were part of the acquisition.

PulteGroup ranked as the largest home building company in the Triangle in 2014 with nearly $170 million in sales, according to Triangle Business Journal’s 2016 Book of Lists. John Wieland Homes did not respond to requests for annual report numbers from TBJ’s research team.

Amanda Hoyle covers commercial and residential real estate for Triangle Business Journal. Follow her on Twitter @TBJrealestate

 

Skip the Pain: 7 Things That Will Fill You With Buyer’s Remorse

FOR HomeBUYERS, as Exclusive Buyer Agents, try to help you evaluate all of these points and even more when you are considering your new home purchase in order to avoid Buyer’s Remorse later. We are offering this information in order to help you think through your specific needs and wants in a new home in the Raleigh-Triangle, NC Homes market. If you have questions, you may text or call 919-219-9878.

We’re here to share an unsolicited word of caution. All those custom details you’ve dreamed about? Make sure you really, really want them before you put in an offer—and that, in order to get them, you’re not sacrificing other things that will ultimately drive you bonkers.

Is the big backyard really worth all the hours of mowing and landscaping? Is your desire for more space making your home feel less cohesive? Are those floor-to-ceiling windows, which made you fall in love with the home?

We could go on and on about the flip sides that have the potential to fill you with regret. But we talked to some experts in the biz and boiled the list down to seven features. Pay close attention to these things that might set you up for the dreaded buyer’s remorse.

1. Don’t go big, just go home

You may want the space to spread out, but consider what rooms you’ll actually use once you move in.

Do you really need five bedrooms, a game room, an office, and two formal living rooms? If you buy too big a home, you might end up regretting it when it comes time to cool, heat, and clean the place.

And don’t forget room size. If the space is too big, your furniture will seem miniaturized. To avoid going too big (or too small), bring a tape measure and measurements of your own furniture to verify everything will look the way you want.

2. Don’t get boxed in

On the other hand, if you’re planning to stay put for a while, consider the home’s architecture. You may want expand one to day, and not all homes are set up for that.

“Many buyers of split-foyer-style homes—where you enter and you’re at midlevel with the stairs and must go up or down—complain that it is difficult to expand their home,” says Cathy Baumbusch, a Realtor® in the Washington, DC, metro area.

Instead, look for more flexible, one- or two-story homes where additions are easier.

3. Don’t let your stairs become an uphill battle

Finally, when you’re walking the floor plan, think of how you’ll use the space when you own it, especially if you’re looking at an older home.

“Most buyers in my area want the standard three-story—two upper floors and a basement—Colonial-style home,” Baumbusch says. “This type of home often has the laundry room in the basement, which means the family has to haul laundry up and down two flights of stairs.

“It can get old fast.”

4. Get off the island … maybe

What we often consider to be an amenity can create remorse. Take, for example, the kitchen island. It looks cool. It adds more prep space. We all want one. Or do we?

“Kitchen islands can be a mistake if you don’t take your ‘work triangle’ into account,” Baumbusch says.

Walk around the kitchen, following your usual prepping and cooking pattern. If you’re bumping into the island, you may end up hating it.

5. Pay attention to what’s missing

If the home is modern (or previous owners did some upgrading), take a hard look and ask yourself if anything is missing.

Often architects and remodelers will take something out to give a room a cleaner, more minimalist feel, and you may feel the loss after you move in.

“There is a trend to eliminate the bathtub in favor of just a shower,” Baumbusch says. “Some homeowners regret that decision, because sometimes they find themselves wishing for a nice long soak after a tough day.”

6. Pools may not be so cool

You step outside, see a pool and immediately picture all the backyard parties you’re going to have. We know, we know, pools are cool. But pools are also a huge expense.

On top of the regular monthly maintenance and cleaning (and there will be a lot of that), pools in seasonal areas are often opened and closed by a pro. Those costs add up.

“It can cost upward of $600 just to open a pool and prepare it for swimmers,” Baumbusch says.

Moral of the story: Pools are a big regret if the expenses cause a burden. Make sure you can comfortably afford the upkeep.

7. Don’t fall for fads

Today’s popular ice-white appliances, steel countertops, and Edison bulb light fixtures are yesterday’s saloon doors, linoleum, and brass hardware.

If you buy a house just for its trendy look, you may end up regretting it when the styles change, especially if you have to sell the outdated design. Instead, Baumbusch recommends looking for timeless features.

When all is said and done, look for a classic, well-designed home to ensure the smallest chance of stinging regret. It may not sound like as much fun, but you can always add a little (or a lot) of your style in the finishing touches.

 

Angela Colley lives in New Orleans, where she writes about buying, selling, and renting news for realtor.com. Her passions include animal rescue, photography, historic homes, and Southern architecture.

 

 

Triangle Parade of Homes 2015

Don’t miss this fantastic display of homes located throughout the North Carolina Triangle Area. If you are looking to purchase a new home or just get some great remodeling ideas or ideas for your future dream home, the Parade of Homes is where you want to be the next couple of week ends.

The Annual Parade of Homes, N.C.’s largest open house, presented by the Home Builders Association of Raleigh-Wake County and the Home Builders Association of Durham, Orange and Chatham Counties, will run on Oct. 3 & 4, 9 – 11, and 16 – 18, 2015 from 12-5 p.m.View Parade homes listed for sale from $ 175,000 to $1.5 Million. This annual, free tour that is open to the public is the best way to view the newest homes and the newest communities throughout the Triangle. This year the parade features over 250 new homes.

Visit the following web site to get more details and view some of the parade of homes online. http://triangleparadeofhomes.com/

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