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 North Carolina Real Estate Markets are Strong.
5 of the Strongest in the nation - BusinessWeek
#1 Fastest Growing Metro...U.S. Census - 2009
#1 Best for Business & Career...Forbes - 2009
#1 for Business Climate...Site Selection Magazine - 2009
#1 - There's no such thing as a national real estate market.
When you read the newspapers and surf the web, it’s easy to get the idea that real estate markets are the same everywhere. If conditions are bad in Orlando or Los Angeles or Chicago, they must be bad everywhere, right? ...No.. ALL REAL ESTATE IS LOCAL. When you’re looking to buy or sell, pay attention first to sales price trends, volume and inventory in your target Research Triangle MLS market or region, rather than to misleading headlines about national sales trends. North Carolina homes are not sinking. We are an island of hope worthy of your optimistic and determined effort to get here as soon as your freeze melts.
#2 - North Carolina home values are relatively stable and interest rates are still low!
North Carolina EXISTING home sales posted its fourth consecutive month of improvement in September 2009, the longest period of monthly gains in nearly five years! (source: North Carolina Association of Realtors) Raleigh continues a top location for newcomers, and North Carolina "ranks sixth most popular state in the nation when it comes to where people want to live" (according to a recent Harris poll). ...And there's the $8,000.00 Tax Credit available to qualified, first-time home buyers. In the first seven months of 2009, first-time home buyers accounted for nearly 50 percent of home sales.
Take a look at our our entire Triangle MLS property data for September 2009. It is all relative. Here is the September 2009 Wake County Real Estate Data. Even in this county we see wide variance. The question is "recovery" and the answer is "we want to live in North Carolina". This is the "half-back" destination of New York relocations to Florida ... and finally North Carolina relocation.
 #3 - Housing demand in North Carolina will be on the rise.
Estimates indicate that the Tar Heel state’s population will increase by more than 400,000 by 2010. These new North Carolinians will need a place to live! Pure logic... No new ground - more houses!
#4 - A house is where you make your home, not just your profit.
Most purchasers don’t buy a house to flip it. They buy it to live in it, to establish their roots, to raise a family and to build on the American Dream. The value of strong communities, civic pride, comfortable retirement, and a higher quality of life can’t simply be expressed on a balance sheet. It's rarely higher than in the Raleigh, Cary, Apex, Wake Forest and Research Triangle real estate area ... with Temperate climate, North Carolina State University, University of North Carolina at Chapel Hill, Duke University, Research Triangle Park (200,000 jobs), Golf, Falls Lake, Lake Jordan, Wake County Schools, Johnston County Schools, ACC Basketball, Stanley Cup Hurricanes Hockey Champs, NASCAR, NFL Panthers, NC Beaches, NC Mountains, Employment... and on it goes!
North Carolina is Ten Percent of Kiplinger's Top 50 Best Public College Values, 2008
UNC-Chapel Hill - North Carolina State University - Appalachian State University - UNC-Asheville - UNC-Wilmington
#5 - Reputable mortgage companies are ready to lend.
If you have good credit and a realistic understanding of what you can afford, getting mortgage approval to purchase a home can be more easily attained. Help is also available through the North Carolina Housing Finance Agency and other organizations. FHA's volume has tripled and the agency is now insuring well over a hundred thousand new loans a month. The new FHA Mortgage Maximum Limit for Raleigh Cary Wake County is $295,000 with 3.5% Down Payment.
#6 - Owning a home builds wealth in a way that renting can't.
According to the Federal Reserve Board, the average renter’s net worth is $4,800. Contrast that to the average homeowner’s net worth of $171,000. Clearly, it pays to own a home, as the hard-earned equity you build will pay future dividends. Check our "rent or buy" calculator. Keep your mind focused on the goal of owning a North Carolina home in the Research Triangle, Raleigh, Cary, Wake Forest region. You will not regret including North Carolina relocation in your lifetime estate. Factor in population growth. There's a reason it's called real estate.
#7 - It's a prime time for second homes.
Savvy investors and prospective retirees understand how important real estate is to their portfolios. Nationally, about one third of all home sales are second homes or vacation properties; in North Carolina, that figure is nearly 40 percent – largely because of our inventory and desirable locations in the mountains and on the coast. Come to the Research Triangle - purchase your primary residence in Raleigh, Cary and Wake Forest - and then strive for a NC beach or Blue Ridge Mountain investment property.
#8 - It makes sense to use a North Carolina Realtor®.
If you had a $150,000 legal question, would you deal with it without an attorney’s assistance? If you had a $150,000 income tax issue, would you risk not consulting a CPA? There are nearly 45,000 REALTORS® in North Carolina who subscribe to a strict code of ethics and are expected to maintain the highest level of knowledge of the process of buying and selling a Raleigh, Cary or Wake Forest home. Be sure you select a trusted advisor.
#9 - Now is the time to buy.
Interest rates dropped significantly in an effort to stimulate the national economy. While North Carolina’s economy hasn’t suffered as much as some states, we nevertheless can benefit from these lower interest rates. The bottom line is this: If you’re a buyer - employed - and have a good FICO score, the Research Triangle real estate market is for you, now! You will look back at rates around 5% as the best financial opportunity of your life. Property taxes are low, too!
"Raleigh is another market that has been driven by job growth. Like much of the Southeast, the expanding economy here has kept people moneyed enough to make home payments. According to RealtyTrac, there is only one foreclosure per 319 households, one of the lower rates in the country." (Forbes, 02/07/08 Best Cities for Bargain House-Hunters: #2: Raleigh, NC)
HOWEVER, in the third quarter of 2009, North Carolina had the 14th-lowest foreclosure rate in the nation, with one in every 417 homes going into forecosure. (source: NCAR)
We are rated consistently for best business relocation environment, job growth, etc. All indicators point to Raleigh, Cary Wake Forest Research Triangle North Carolina Relocation!
#10 - And if you are a Seller, be patient… and smart.
Price your home correctly – your home’s value is what someone is willing to pay for it, not the price that you think it should sell for. Competitive pricing is the single biggest reason that a home sells or does not sell. REALTORS® know the marketplace and help you determine the optimum sales price. And you can still preserve home equity.
The North Carolina Triangle Real Estate Market is still the #1 Relocation Destination, and when the national market corrects, thousands more are coming across the North Carolina borders from California, Ohio, New York, and Florida, and we will have the best real estate market in our history.
Franklin Roosevelt was right about real estate: Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.
Search for your new North Carolina Home to buy or lease here now.
We are not listing rentals - but there are plenty in the MLS - call us - 919-796-7919. | |
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Copyright, 2009 Raleigh Cary Wake RTP NC
