PolingTeam Raleigh NC Real Estate Blog

Take advantage of this undeserved but welcomed $10K PRICE DROP in our elegant brick front listing in Riverside Subdivision.

This home offers a bright two-story foyer, separate office study, separate dining room, a kitchen and breakfast area overlooking the family room with fireplace. There are 3 bedrooms, including a fabulous master suite with separate sitting area, large walk-in-closet, separate garden tub and shower and two sink vanity. Also on the second floor is a large fourth room that could easily become a bedroom or rec room or media room.

Not done yet. The property has an oversized garage, fenced yard and deck; AND the sale includes all appliances (yep, washer and dryer, too!). It’s a wonderful property now selling for $218,000. And incidentally, that list price represents the lowest price per square foot among comparable selling in the neighborhood, so it’s the BEST DEAL TOO! Call us for a private showing.

Finally some good news for the Raleigh Housing Market

It has been awhile since I took computer in hand to write a blog. Linda and I have had a busy summer and I have been involved in a number of other projects that have required a lot of my focus.

As you may have deduced from my previous blogs, I am a numbers guy and so even though it is the Labor Day weekend, I took some of my œfree time to update our Raleigh Real Estate Market page on our website.

Home sales in the Triangle as a whole were up 7.5% above July 2010 “ 1823 homes of all types sold in all of the Triangle area according to the Triangle Multiple Listing Service (TMLS). This is the first time that this has happened in a long time.

I had known that the Triangle area home sales numbers were up in July, but now it appears that August will follow.

The chart clearly demonstrates the affect of the government intervention into the housing market with the $8,000 First Time Homebuyer tax credit in 2009 and 2010. Our local market is cyclical and it appears that we are returning to a normal cycle for our area, although our sales numbers are lower.

Despite the bad economic news the bond market is rebounding and we could see record low rates again…possibly below 4 percent on a 30 yr fixed if the bond market continues the current course.  

Bottom Line: Rents are going up, prices are low; interest rates are at all time lows so now is a better time than ever to buy a home.

Come Out and enjoy some old fashioned lemonade at our open house this morning between 10 AM and 12 PM.    

5906 Big Sandy Drive Raleigh, NC 27616

This home is in a very convenient location in North Raleigh which is easily accessible to RTP, shopping, airport, everything! and in a fantastic subdivision.

The home features:

-Elegant two-story brick front!
-Office / study with glass French doors
-Kitchen opens to family room
-Separate dining room
-Private fenced yard
-Fabulous master SUITE w/sitting area
-Master Bath has a large walk in closet, separate shower and garden tub
-The home is well-cared for, has the best schools, and is located in an active community.  

Come see, enjoy a free glass of refreshing lemonade! You’ll love the house too!

Directions: I-540 to Capital Blvd. R Perry Creek, L Clarks Fork into Riverside SD, at roundabout take R   onto Haines Creek, L Big Sandy.   OR I-540 to north on 401, L Perry Creek, R Filbin, R Keowee, L Ducks Creek, R Big Sandy.

Come Out and enjoy some old fashioned lemonade at our open house this morning between 10 AM and 12 PM.    

5906 Big Sandy Drive Raleigh, NC 27616

This home is in a very convenient location in North Raleigh which is easily accessible to RTP, shopping, airport, everything! and in a fantastic subdivision.

The home features:

-Elegant two-story brick front!
-Office / study with glass French doors
-Kitchen opens to family room
-Separate dining room
-Private fenced yard
-Fabulous master SUITE w/sitting area
-Master Bath has a large walk in closet, separate shower and garden tub
-The home is well-cared for, has the best schools, and is located in an active community.  

Come see, enjoy a free glass of refreshing lemonade! You’ll love the house too!

Directions: I-540 to Capital Blvd. R Perry Creek, L Clarks Fork into Riverside SD, at roundabout take R   onto Haines Creek, L Big Sandy.   OR I-540 to north on 401, L Perry Creek, R Filbin, R Keowee, L Ducks Creek, R Big Sandy.

Raleigh Residential Real Estate – Unexpected Energy (and Money) Savers

Put lamps in the corners: Did you know you can switch to a lower wattage bulb in a lamp or lower its dimmer switch and not lose a noticeable amount of light? It’s all about placement. When a lamp is placed in a corner, the light reflects off the adjoining walls, which makes the room lighter and brighter.

Switch to a laptop: If you’re reading this article on a laptop, you’re using 1/3 less energy than if you’re reading this on a desktop.

Choose an LCD TV: If you’re among those considering a flat-screen upgrade from your conventional, CRT TV, choose an LCD screen for the biggest energy save.

Turn off the burner before you’re done cooking: When you turn off an electric burner, it doesn’t cool off immediately. Use that to your advantage by turning it off early and using the residual heat to finish up your dish.

Spin laundry faster: The faster your washing machine can spin excess water out of your laundry, the less you’ll need to use your dryer. Many newer washers spin clothes so effectively, they cut drying time and energy consumption in half-which results in an equal drop in your dryer’s energy bill.

Use an ice tray: Stop using your automatic icemaker. It increases your fridge’s energy consumption by 14% to 20%. Ice trays, on the other hand, don’t increase your energy costs one iota.

Visit our new website:   Buy and Sell Raleigh Homes

Wake County Home Sales  

Total Market Overview

*All information deemed reliable, but not guaranteed.

Raleigh Residential Real Estate Q&A – I am considering selling my Raleigh Home and I understand that there are significant changes to the Offer to Purchase and Contract that my Raleigh Realtor will use. Is this true?

It is true that significant changes in the Offer to Purchase and Contract that became effective January 1 of this year. However, about 60% of the content has been carried over from last year’s contract. It had been rearranged and slightly revised into a more logical approach.

As an example, paragraph 1 (which extends for 2 and a quarter pages) is a combining of terms and definitions. These include the buyer, the seller, the property, the purchase price, and others which have pretty much stayed the same. Another example paragraphs 5 through 8 where the buyer and seller representations and obligations are grouped together.

The changes have been in the making for a number of years in an effort to construct a form that removes many of the problem areas which encouraged disputes between the homebuyer and the home seller. The form was developed (as are all the standard forms) by members of the North Carolina Association of REALTORS ® and attorneys from the Real Property Section of the North Carolina Bar Association.

To address past problem areas, the new form takes the “due diligence period” concept that has been in commercial sales contracts for several years and introduces it into the new residential sales forms. In future blogs, we’ll examine the important changes and the impact on Raleigh homebuyers and sellers.

Want to review the new Offer to Purchase Form now? Raleigh home sellers and homebuyers can view and download a sample of the form here:   2-T Offer to Purchase and Contract

5906 Big  Sandy Raleigh, NC 27616  

TAKE A BREATH OF FRESH AIR in this homey yet elegant two-story brickfront! Office/study w/glass doors. Kitchen opens to family rm. Private fenced yard. Fabulous master SUITE w/sitting area, lg WIC, sep shower and garden tub. Great house, well-cared for, the best schools, active community. Accessible to RTP, shopping, airport, everything! Come see!

 Linda listed this wonderful home in North Raleigh over the weekend.

 It is listed  $33,425 below tax value at $228,000.

Visit the website for this listing at: 5906 Big  Sandy

Raleigh Real Estate FAQ’s – What’s happening with the Raleigh residential real estate marketplace? Are home sales numbers increasing?

If you are currently a Raleigh home owner who is thinking of selling your home or if you are already have your home listed, I’m sure you are thinking, “don’t tell me any more bad news about Raleigh Real estate home sales.  I am sorry, but  the Raleigh, NC Homes Sales numbers are up in March from February, but down again when compared to March of 2010.

However, there has been good news reported this last week in regards to Raleigh. According to a press release on the Triangle Business Journal website on April 7, Raleigh ranks as 8th strongest U.S. job market. On April 12 the Journal announced that Raleigh ranks seventh in the country in a new study that gauges small-business vitality in the nation’s top 100 metropolitan markets. While the area is still one of the best in the country, Raleigh did drop down from third place a year ago. Charlotte was ranked fourth in the study.

This is good news for the housing market, because jobs are a driver of housing demand.

As can be seen from the chart below, the Federal tax incentives distorted the home sales statistics in Wake County during 2010. Many areas of the Triangle had an increase in median sales price but this was due to move up buyers purchasing more expensive housing. Without the intervention by the government in the housing market with tax incentives, house prices should return to the normal behavior of responding according to the laws of supply and demand in 2011. Markets which have an oversupply of housing inventory will have price decreases and markets that are undersupplied will have price increases.

Home sales in Wake County in March 2011 have increased over February 2011, but they are down in comparison to March 2010. Last years Spring large rise in home sales was due to the approaching end of the home buyer tax credit.

The home sales chart for Durham County, NC is even more dramatic, but the reason is the same.

The charts for Orange and Johnson Counties show a similar trend even though the number of home sales is smaller.

Would you like a chart for your subdivision in the Raleigh, NC area? Just email me and I’ll be happy to produce one for you with no obligation.

Have you seen the Old Woman who lived in the Shoe real estate ad? Her realtor really helped her find the right home.

While this video is not about Raleigh real estate, I thought you might get a smile seeing the recent videos put out by the Canadian Real Estate Association (CREA).  It was featured in an Inman News article today.

In the videos, the “Old Woman Lives in a Shoe,” explains, in a heavy accent how her real estate agent helped make life better for her by helping her finding the perfect house for her and all her children. The kids are running around the breakfast table, getting ready for school, etc., in the background while she talks about how great her new shoe home meets her needs.

Here are the links to the two TV ads:

http://howrealtorshelp.ca/#video-old-woman-1

http://howrealtorshelp.ca/#video-old-woman-2

Here’s the full video: http://howrealtorshelp.ca/#video-old-woman-documentary

Remember the PolingTeam would love to help you or your family or friends find their perfect home. We will lead you through every step of the process, explain the current market, help navigate the paperwork and offer valuable advice.