Raleigh Residential Real Estate Blog

House Hunting Tip for Buying a Home in the Raleigh, North Carolina Area

An article today in Inman News suggests that being the first buyer out of several buyers to make an offer can give you an advantage. Some buyers do not want to get caught up in a bidding war, so they back off when they hear there are other offers on the table.

If the buyer is pre-approved in regards to financing and has put together a solid offer that includes knowledge of the property disclosures, HOA dues, etc. will be looked up very favorably by the seller.

Looking to relocate to Raleigh, North Carolina or possibly just move across town to Apex or Cary, Knightdale, or Wake Forest, NC? The Poling Team has a free relocation package available. Just Contact US and we’ll arrange to have it delivered to your home.
 

Raleigh Residential Real Estate – In selecting a Raleigh, NC REALTOR® for Selling or Buying a Home in Raleigh, North Carolina Area – Knowledge of the latest technology is important.

Did you know that according to statistics from the National Association of Realtors, the use of the Internet to search for a home has risen dramatically over time, increasing from only 2 percent of buyers in 1995 to 77 percent in 2005?

This National Association of Realtors survey (released earlier this year) shows 81 percent of buyers who use the Internet to search for a home purchase through a real estate agent, while 63 percent of non-Internet users buy through an agent; non-Internet users are more likely to purchase directly from a builder or an owner they knew in advance of the transaction.

“Buyers who use the Internet in searching for a home are more likely to use a real estate agent than non-Internet users, and consumers rely on professionals to provide context, negotiate the transaction and help with the paperwork,” said Stevens, senior vice president of NRT Inc.

The Poling Team utilizes the latest technologies to help our clients buy or sell homes in the Raleigh, NC area.

If you are looking to buy a home, we can set up an automated home search that will notify you of homes as they come on the market, many times even before other real estate agents see them. We are happy to do this free of charge and without any obligation. Just drop Art an email and let us know what is important to you in your new home.

Raleigh Home sellers need a real estate agent who utilizes the latest internet technologies especially in the current residential real estate market. This is why we build a website for each of our listings as well as producing virtual tours and  podcasts that we post on multiple websites.

Give us a call toll free (888) 221-5940 if you are interested in buying or selling a Raleigh, NC home. You deserve our high level of personalized service.

 

Is the Raleigh North Carolina real estate market cooling?

The Associated Press reported on Friday that sales of new homes fell in June for the first time in four months. The drop in new home sales is consistent with the drop in the number of  resale homes sold that have been lower for the past 8 months according to analysts.

If you read yesterday’s blog you will see that resale home sales have not declined in the Raleigh, NC area. Our market continues to hum along. In contrast to some areas of the country where home appreciation rates have been declining, the Raleigh area appreciation rate has increased this year. And a recent study predicts that they will continue to rise over the next 12 months. This was reported this week in the Triangle Business Journal.

Triangle Business Journal - 6:39 PM EDT Wednesday A study released Tuesday predicts that the Raleigh-Durham area will post one of the nation’s five highest home value appreciation rates over the next 12 months.  Research released by Veros Real Estate Solutions projects that home prices in Raleigh and Durham will rise about 8 percent over the next year, tying Tampa, Fla., for the fourth-highest rate. Read Full Article: Triangle Business Journal 

So as I wrote yesterday, it is still a great time to buy a home or invest in Raleigh residential real estate. If you are considering Raleigh real estate, the Poling Team would love to help. Contact Us for more information.

June 2006 Raleigh Real Estate Market Update

While some areas of the US are experiencing a slowdown in the real estate market, our market in the Raleigh area continued to move along in the Month of June. In fact, Wake County single and multifamily home sales year to date this year compared to 2005 are up 10.3 % ytd and Johnston County sales are up 13.8 % ytd. Durham also has an upward trend of 10 %. Only the Chapel Hill area had a lower number of sales and appears to have a continuing downward trend.

The average sale price of a Wake County resale home in June 2006 was $322,154 and the median sale price for Wake County was $183,400. Johnson County’s average resale home sale price in May 2006 was $190,909 with its median price being $148,900.

There are other positive indicators. The number of listings in the Triangle Multiple Listing Service (TMLS) are almost up 3% from June. In June the Wake County average DOM had dropped to 69 from about 82 DOM at the same time last year. Overall the Triangle area averages 75 days on market compared to 88 days last year and there is an overall supply of about 4 months.

So what does all this mean? It is still a great time to buy or sell a home or invest in residential real estate in the Raleigh area. An article this weeks Triangle Business Journal confirms this. Read the full Article:
Study sees Raleigh-Durham real estate appreciation among highest in U.S.

Contact Us if you would like the market specifics on your neighborhood or to receive a free home value analysis.  Or call us on our toll free hotline (888) 221- 5940.

What’s happening in the Downtown Raleigh, North Carolina?

Tomorrow is the re-opening of Fayetteville Street in downtown Raleigh, North Carolina.

For 30 years Fayetteville Street had been a pedestrian mall with tree lined walkways. In an effort to increase appreciation for downtown Raleigh, the city has spent about $10 million over the past 18 months on this conversion. This is in addition to other development which includes a new convention center, a Marriott hotel, condos and new restaurants and shops.

Tomorrow is the big celebration with events beginning at 6:14 AM. For more information on the downtown Raleigh project and the events of the day, visit: Go Downtown Raleigh
For now the downtown Raleigh, NC condo market remains strong and indicates a potentially good residential real estate investment.

Thinking of relocating to downtown Raleigh, North Carolina or any other part of the Triangle area? The Poling Team would like to be your Raleigh, NC Realtor®. We provide professional real estate consulting for the purchase or sale of Raleigh homes or for those looking to invest in residential real estate.

Give us a call on toll free number (888) 221-5940 or simply click: Contact us
We will be happy to answer any questions or send you a free relocation package.

You can search for virtually all Raleigh, NC properties here:  Search Raleigh, NC Prosperities

 

Deadbeat Buyers Legislation Passed for  North Carolina – Good News for Apex, Cary, Clayton, Knightdale, Raleigh and Wake Forest, and all North Carolina Home Sellers

Up until now there was a potential problem with how the yearly property taxes were paid at the closing table. Property taxes are one of the items that are prorated at closing. The seller will pay a proportion of the taxes that is equal to the number of days he has lived in the home for the current year, divided by 365. The home buyer would then be responsible to pay the taxes at the end of the year when they came due. In most counties of North Carolina, tax bills are not issued until sometime after the first of June and are not even mailed until sometime in August and then become due in September. The tax bill is not past due until January 3 of the next year.

Under past legislation, the taxing body would go after the owner of record of January 1 of the tax year in which the home was sold. This left the seller vulnerable to deadbeat buyers who would not pay their taxes.

Finally a law was past last week that changes the rules for how property taxes are collected. Now the party responsible for property taxes is the party of ownership as of the date the taxes become delinquent.

If you have any questions, please feel free to e-mail Art of the Poling Team at art@PolingTeam.com

For more free information on the process of buying and selling a home in the Raleigh, NC area?

Visit our website: www.PolingTeam.com. You can also find lots of other helpful Raleigh, NC links and information there as well.
 

What’s Happening in the Condo Market in Downtown Raleigh, North Carolina?

The News and Observer is reporting today that the median condo price in downtown Raleigh has risen 47.2 % over the last two years. They report that the median sales price (meaning 50% of the homes sold for more and 50% sold for less) for condos in 2006 has been $343,000. This is up from the median condo price in 2004 of $233,000. These numbers were taken from the Wake County Revenue Department records.

I just did a quick check in the Triangle Multiple Listing Service (TMLS) for the downtown Raleigh zip code 27601 and found similar results. The average price of a condo in the zip code since January 1, 2006 is $327,031 as of today.

There is some good news coming for those with more limited incomes. One developer is planning 170 smaller and less expensive units that will have pricing starting in the low $200,000’s.

For now the downtown Raleigh, NC condo market remains strong and indicates a potentially good residential real estate investment.

Thinking of relocating to downtown Raleigh, North Carolina or any other area of the Triangle? The Poling Team would like to be your Raleigh, NC Realtor®. We provide professional real estate consulting for the purchase or sale of Raleigh residential real estate.

Give us a call on toll free number (888) 221-5940 or simply click: contact us We will be happy to answer any questions or send you a free relocation package.

You can search for Downtown Raleigh, NC condos here:  Search Raleigh, NC Condos

 

 

Raleigh North Carolina Home for Sale - 2611 #107 Ivory Run Way, Raleigh, NC -  Podcast

 

Watch Now:

 2611 #107 Ivory Run Way, Raleigh, NC [2:51m]: Play Now | Play in Popup | Download

Garner, NC Home for Sale - 201 Hutchins Drive

Tucked away in an established neighborhood, this well-cared-for split level sits among mature hardwoods.  Features include an light and bright updated kitchen with 42” cabinets, a large custom built 16×14 deck,  a 4th bedroom/office on the lower level with outdoor access and  a masonry fireplace in the den.  All bedrooms have spacious closets and the roof was replaced just 7 years ago!  

Offered for $155,000.

Watch Now:

 201 Hutchins Drive Garner, NC [1:54m]: Play Now | Play in Popup | Download

Apex, North Carolina Home for Sale - 101 Lynnhaven Drive

· Spacious 2968 heated square feet with 5 bedrooms and 3.5 baths, including 2 master suites

· Gorgeous family room, tiled, with lots of windows, built-in shelves and 9’ ceilings

· Office with built-in wood shelves, fireplace and hardwood floors

· Remodeled and updated kitchen with tile floors

· Two stairwells to the second floor with all bedrooms on the 2nd floor

· Master Suite with cathedral ceilings and glamour bath

· 1.15 acres, private and fully landscaped with lots of perennials, a fire pit in the woods area, a tree house, a vegetable and herb garden, and a wood swing set

· 18’ X 18’ deck with trellis roof and adjoining 23’ X 17’ brick patio and trellis

· Oversized 2-bay detached garage with 8’x9’ doors

· 20.3 X 15.5 unfinished, wired, fully-insulated bonus with stairwell above garage

· Home built in 1978, with an effective year of 1985 reported on the tax records

· An addition was completed in 1999 and the garage, in 2000.

· Offered at $338,000
 

Watch Now:

 101 Lynnhaven, Apex, NC [4:08m]: Play Now | Play in Popup | Download