Raleigh Residential Real Estate Blog

Raleigh Residential Real Estate - Information for North Carolina Real Estate Brokers - Mandatory  CE Available Tomorrow

If you are a licensed real estate broker in North Carolina and are still needing to take your required 4 hour update course, I am teaching the course tomorrow afternoon at Legacy Real Estate School. Class size is small and the session will be interactive.

Costs is only $55 and we provide the materials.

Class will begin promptly at 1:30 PM.  Walk ins are welcome or you can register on-line at Legacy Real Estate School.

Legacy Real Estate School
2431 Spring Forest Road, Suite 175
Raleigh, North Carolina 27615
919-861-6500

Raleigh Residential Real Estate – New Home Sale Statistics and Real Estate Market Analysis available for the Raleigh, North Carolina Area

The Sky is Falling, the Sky is Falling! Or at least so said Chicken Little. If one listens to the main stream news organizations one might conclude the same about the real estate market – even in the Triangle area of North Carolina.

Don’t get me wrong, Raleigh area home sales have been dramatically impacted by the national real estate marketplace and the national economy. Wake County home sales continued to decline in September 2008 as compared to September of last year. Yet, Triangle Area homes appreciated an average of 4.8% this year.

While this is not the double digit gains of the past California boom times, the rate is significant when compared to the national average appreciation which is a negative 4.8% for this year.

Read my Raleigh real estate market update and check out the statistics for each of the four major counties by clicking here: Raleigh Real Estate Market Update

While I will not attempt to “predict” the future, everyone understands that one wants to purchase low and sell high. Now is a great time to purchase a home in the Raleigh, NC area.

Contact The PolingTeam or email me to learn what opportunities there are to invest in Raleigh residential real estate.

Raleigh Residential Real Estate - Should You buy a Raleigh or Cary, NC Home or should you continue to rent?

The cities of Raleigh and Cary, North Carolina are among MSN’s pick of 66 cities where buying makes sense.

The decision to purchase a home verses continuing to rent is dependent upon a number of factors that are directly influenced by one’s credit record and credit score. A potential home buyer with a good credit history might obtain a 6% mortgage loan and they will pay a third less in monthly payments than someone who qualifies for an 8% loan. This can make a huge difference on the monthly payments and for those who are credit challenged it may make more sense to continue to rent.

So what are the returns that are projected should you buy a Raleigh, NC or Cary, NC home? One way to look at this is to project the equity that you would have in four years. Here are MSN’s projections:

How much equity you’d have by 2012 if you bought a low-priced home today…

*Source: Center for Economic and Policy Research and the National Low Income Housing Coalition

These numbers are not as large as areas in Texas, Greensboro-High Point, N.C. , or even Tampa-St. Petersburg-Clearwater, Fla.  “Of the 100 most populous metro areas, 57 have average three-bedroom rental costs higher than the cost of a 6% loan for a typical low-priced house, including Little Rock, Ark., and Akron, Ohio. (The study’s authors defined low-priced as 75% of the area’s median.)”

With the lower interest rates that came about in the last several days as a result of the Freddie Mac, Fannie Mae bailout and the high inventory levels it is a great time to buy a Raleigh or Cary, NC home.

We love to help buyers - especially first time home buyers. Give us a call to obtain our high level of personalized service!

Vist our website at http://www.polingteam.com

Raleigh Residential Real Estate - Good news for Raleigh, NC Home Buyers and Sellers - The bailout of Fannie Mae and Freddie Mac could mean lower interest rates …

The bailout of Fannie Mae and Freddie Mac has already brought lower interest rates, but it may not be as large a benefit to the real estate marketplace as one might expect. Because of the tightening credit requirements (which are absolutely justified - non conforming loans were how we got into the mortgage crisis) there are fewer buyers who can qualify for a mortgage loan.

Speaking of home mortgage rates, one of our recommended lenders has a 30 year fixed conventional loan rate of 5.75% with no origination fee and 0 points. Their 30 year fixed FHA loan is at 6.0%. This is good news for home buyers and home sellers who may need to refinance their homes.

Many of the first time home buyer assistance programs are going away as of October 1^st. There are some that will still be available but the PolingTeam recommends that you have an experienced lender help you navigate the process.

Since interest rates are low and there is plenty of homes on the market, it is a great time to buy a home. Contact Us and we will be glad to help. We love first time home buyers!

You can search all active listings in the Triangle Multiple Listing Service on our website at Find Your House with Your Mouse

Raleigh Residential Real Estate - Good News for Raleigh, NC and all other First Time Home Buyers

The Housing and Economic Recovery Act of 2008 which was passed this week provides a $7,500 tax credit to first time home buyers.

In addition, to a number of other goals the new housing act attempts to stimulate home buying, reduce excess supply in housing markets and shore up home prices. See the National Association of Home Builders article that gives more information on what is available to those looking to purchase their first home at:  First-Time Home Buyer Tax Credit

This tax credit is available only until June 30, 2009. So if you have been thinking about purchasing a new home this is another great reason to make your move now.

Interest rates are still low and there are a number of great mortgage programs for first time home buyers.

Want to know more? Contact the PolingTeam and we’ll help make your move easier!

Raleigh Residential Real Estate - For Sale -Just Listed in Johnson County

A Ranch Home on 1 acre

112 Juniper Court Garner, NC 27529

The PolingTeam is happy to announce a new listing in Johnson County. Enjoy country living and the convenience of easy access to the rest of the Triangle area of NC. Located only 2 miles from the intersection of Hwy. 42 and I-40 you will find this home a delight.

Situated on 1+ landscaped acres at the end of a cul-de-sac offering plenty of parking, a covered front porch with swing, open floor plan, tiled kitchen and bathroom floors, cathedral ceilings, ceiling fans, LARGE bedrooms and closets, 2 miles from I40.

Offered for $149,900

Raleigh Residential Real Estate - Open House Sunday July 13, 2008 1106 Medlin Drive Cary, NC 27511

The Poling Team will be doing an open house tomorrow at this great home in Cary, NC.

Here’s a list of updates that have been done.

*All bathrooms with tile floors, new cabinets & solid surface counters with solid surface formed sink bowls – remodeled in 2001
*Kitchen remodeled in 1999 to include lots of select and choice solid light finished wood cabinets, wood trimmed laminate counters and a desk area with cabinets overhead
*New roof in 1996
*Dishwasher, stove and refrigerator – 4-5 years old
*Washer and dryer convey
*Vinyl tilt windows and storm doors – installed in 2002
*Gas hot water heater – 2002
 *New central forced air conditioning – installed 3-4 years ago
*Carpet installed 9-10 years old – extra thick pad
*New concrete driveway

All of this for only $199,000 –  COME AND SEE!

Raleigh Residential Real Estate – Well-cared for and updated split level home tucked away in the heart of Cary, NC

1106 Medlin Drive Cary, NC 27511

The Poling Team is excited to Offer this wonderful Cary, North Carolina Home for just $204,900!

The sellers are the original owners of this home, and they have watched over the details of its care with thoughtful concern through the years.  Since 2000, they have replaced the roof, remodeled three bathrooms, replaced the ac/heating and hot water units, replaced the windows and doors and built a deck.  The kitchen was remodeled in 1999.  Come live affordably in comfort and care with great accessibility in this wonderful 1709 sq. foot home in the heart of Cary!  Offered for $204,900.  MLS# 1001674

Raleigh Residential Real Estate – North Raleigh Open House  Saturday May 31, 2008   2 – 4 PM

136 Brereton Drive

The Poling Team will be doing an open house in North Raleigh, tomorrow afternoon and we would love to have you stop by and tour this lovely 3222 square foot brick home that located on a landscaped lot of almost an acre located close to I 540.

The home features a two story foyer with hardwoods that opens to large formal living room. The family room has gas log fireplace that opens to the breakfast area & kitchen. 1st floor laundry rm. Master has vaulted ceiling with a huge bathroom with whirlpool tub, separate shower and skylights. There are3 additional bedrooms each with generous closets. Deck overlooks garden and buffer.

Come and see!

Directions: North on Six Forks Road, cross over 540, take 1st right on to Brereton Dr., Home is on right..