The number of current listings in Apex, NC is 86% above the 3rd quarter of 2006. Cary has 15% more homes in the TMLS than last year and Morrisville has 5 % more homes on the market.

So with all this increase in inventory how has this affected the absorption rate? Absorption rate is the number of months it will take to sell all the homes currently on the market at the current years’ selling rate.

Morrisville’s supply for all residential property types is just under 3 months. Cary has a 3.2 month supply and Apex has a 4 month supply of homes for sale. When one examines just detached single family homes, Cary’s absorption rate stays about the same and Morrisville moves out to about 4 months.

There is an oversupply in the upper price points in Cary and Morrisville (1 mil.+) and there in an oversupply in Apex for homes priced at $500,000 and above.

The average list price in Cary is increasing somewhat, while it is decreasing in Apex and Morrisville.

In the last several blogs, I reviewed the upcoming bond referenda to help you decide how to vote on October 9. Click on each of the following to read about each bond from past blogs.

Public Libraries  $45 million
Wake Technical College  $92 million
Wake County Open Space  $50 million

I personally believe each of these bonds are important to maintaining the quality of life of our area and will help maintain the value of our Raleigh area homes. I am personally going to vote for each of these bonds and would recommend that you do the same.

If you would like to know your homes present tax value, The Poling Team would be happy to find it for you just click  Contact Us

We would also be happy to provide a free market analysis of your home. Find Your Homes Value

In the next several blogs, I will review the upcoming bond referenda to help you decide how to vote on October 9.

There are three bond issues to consider.

• Public Libraries  $45 million
• Wake Technical College  $92 million
• Wake County Open Space  $50 million

If all of the issues pass, repaying the bonds and the operating expenses will require a tax increase of 2.25 cents per $100 of valuation.

How will this affect your taxes? If your Wake County home is  valued at $200,000 then your taxes would go up $45 per year.

We have lots of local Raleigh, area information on our website: The Poling Team

According to a 2006 study of home buyers*, first time home buyers most often purchase their home due to a desire to establish their own household. This reason accounted for 74% of first time home buyer purchases.

For repeat home buyers the greatest reported reason for the home purchase was a desire for a larger home – 20% of repeat home buyers. This was followed by relocation or a job related move as the motivation for a repeat home purchase – 16% of repeat home buyers.
 
Whatever your reason to purchase a home may be, the Poling Team can help make the move easier. Contact us to learn how.

*Source: The 2006 National Association of Realtors® Profile of Home Buyers and Sellers.

Yesterday I discussed 3 Tips on How to Avoid Foreclosure on your Raleigh, NC Home
1. Don’t ignore the issue
2. As soon as you have a problem paying, give your lender a call..
3. Respond to all mail from your lender.

The next tip is to Know Your Rights. The first place to look is the loan papers you received at the time you purchased your home. Yes, you may have to dig for them, but you may already have some options available.

Next spend some time to learn about foreclosure laws in North Carolina or the state where you have the home or second home.

One place to look is the government website for the Department of Housing and Urban Development – HUD  Avoiding Foreclosure: North Carolina
Another website that has a good overview of NC Foreclosure law is stopforeclosure.com Here’s a link: North Carolina Foreclosure Law Summary

As always, if the Poling Team can help in any way, don’t hesitate to contact us. We’re also happy to give you a free no obligation market analysis of what your home is currently worth, just click here: What’s My Home’s Value?

 

I visited Trader Joes in Cary today. I had to be on Kildaire Farm Road for a closing, so it was convenient to stop in. As I toured the isles with their unique offerings, I was reminded of one of the our recent relocation home buyer clients.

They were relocating to the Raleigh, NC area from California. The fact that Cary has a relatively new Trader Joes was a major consideration for their home purchase.

They actually ended up purchasing a home in North Raleigh, but the lady of the house was happy that she could still shop at a Trader Joes.

Incidentally, our closing today was for our listing -  Lot 3 in the Hillcrest Farm subdivision outside Wake Forest. 

Now we have only one lot left where you can build your own home or bring your own builder. Lot 22 is a unique lot that has spectacular views of a pond and a farm. You can view our listing on our website at Featured Property or at the website I have built for this listing at http://www.2004Monthaven.com
 
You can use your mouse to find your house or other properties on our website by clicking Raleigh Home Finder.
 

The Poling Team works in all these areas and our experience can help.
 
We have a free relocation handbook that we would be happy to send to you. It helps with information on how to start the moving process, how and when to break the news to the kids, a moving scheduling guide, and information about getting settled.

We also have a free Triangle Area, NC Relocation Package – just click here:  Free Relocation Package Remember to include your current mailing address.
 
You can use your mouse to find your house on our website by clicking Raleigh Home Finder.

We work in all these areas and our experience can help.
 
As brokers who specialize in helping buyers, The Poling Team are often asked about the advantages and disadvantages of buying a brand-new home. Our standard answer is that it’s just too difficult – and even risky – to generalize.
 
In every case a lot of research should be done before you buy a new home. For while it’s tempting to assume that the home is well constructed, that’s not always the case, as many people unfortunately find out. In addition, a new home just might come with some hidden costs that you didn’t bargain for.
 
So if you ever consider purchasing a new construction home, please contact me any time. Through experience, I’ve have come to know what to look for and what questions to ask. I can also help you make all the important calculations that could influence your final decision. I look forward to hearing from you when the time is right.

You can use your mouse to find your house on our website by clicking Raleigh Home Finder.

Not all new home builders list homes in the MLS and not all new homes are listed, but this search should give you some idea of what is available.

Let us know your criteria and we’ll help you find your next home.

 

 

Moving Tips and A Helpful Moving Checklist

One of the main benefits of using an experienced buyer agent to help you buy a home is that it doesn’t cost you any more than if you do everything yourself. Our services are paid for by the home seller and we can help make your move easier.
 
As an example, we have moving tips (including tips for children and pets) and a very helpful moving checklist on our website. You can find it for free and no registration is required on our website at Moving Tips

We also have links to the utility companies in the area to make the change over easier for you.
 
We realize you may not have made the final decision, but when you decide that the time is right for you to buy your next home, or if you hear that any family or friends are thinking about buying, please don’t hesitate to call or email us or Contact Us

You can use your mouse to find your house on our website by clicking Raleigh Home Finder.

Benefits of Buyer Agency

The job of finding a home that meets all your needs and wants can be a difficult one if you don’t have all the available resources at hand or the time necessary to make complete use of them.
 
My wife Linda and I specialize in helping buyers find the homes they’re looking for all over the Raleigh, NC area. So whether you are looking for a home in Apex, Cary, Clayton, Fuquay Varina, Garner, Holly Springs, Knightdale, Morrisville, Raleigh, or Wake Forest or even Johnson County (areas we service), I can save you a lot of time during the home search process.

 I find out about listings right when they come on the market, and sometimes even before. And that’s just the first step. I’ll also provide analysis of each home we view, help you arrange financing, negotiate a better deal and help ensure that everything’s signed, sealed and delivered on closing day.
 
And perhaps the best part is that all my services are paid for by the home seller. They don’t cost you any more than if you do them all yourself! So if you decide to buy, or if you hear that anyone you know is, please call or email Art

Visit our website www.PolingTeam.com

Call us and we will be happy to provide a high level of personalized service.