Dudley Price, staff writer for "The News & Observer" did a GREAT JOB portraying the current status of the North Carolina Triangle real estate market in his article in Sunday's paper titled, "Ready to rumble".  Check it out online at:  http://www.newsobserver.com/print/sunday/work_money/story/1076807.html.

Mr. Price accurately decribes the gap between home buyers who have an unreasonable expectation  of how much below list price homes in Wake County can be purchased and home sellers who ignore market statistics and comparable home sales when establishing the list price for their home.  The Raleigh-Durham-Chapel Hill Triangle market is beginning to feel the effects of increased inventory that has reduced average home prices in many metropolitan markets -  increasing Average Days on Market (still - it's increased to only 92 DOM for 2008) and causing price reductions for 42% of the active listings.

Mr. Price also lists the following advice for home buyers and sellers (source stated as staff research, LendingTree.com):

"FOR BUYERS:
1.  Get pre-approved for a mortgage before you make an offer.
2.  Hire an experienced real estate broker familiar with the market. (You've got to love this journalist!)
3.  Get an idea of homes' selling prices.
4.  Insist on a home inspection.

FOR SELLERS:
1.  Before listing your house, research the local market.
2.  Hire a solid broker, get a comparative market analysis
3.  Maximize your home's value. (a few tips are included)
4.  Set the right price."

In view of all the negative sensationalism we've endured from the media recently,  Mr. Price's accurate reporting and sound advice for home buyers and sellers is truly refreshing.  No, the Triangle real estate market is no longer "smokin'", but it's still solid:  home buyers can get a great deal on new construction and luxury homes - and Sellers who hire a solid, experienced REALTOR (and heed his or her advice) can expect to sell their home within a reasonable time frame.

If you're considering buying or selling a home in Cary NC or the Raleigh-Durham-Chapel Hill Triangle area, visit www.TriangleChoiceRealty.com for information about our team and how we can help.  If you're a REALTOR, we'd love the opportunity to serve your referrals. 

SOLD!  Listed 3/25/08, Under Contract 4/13/08, Closed 5/8/08.

Listed to "Closed" in 45 Days at 98.5% of list price!

Awesome one-story END UNIT Town Home in the desirable Planter's Pointe neighborhood of th Edgehill Farm community of Cary NC for sale! 

Bright and Sunny with large, open floor plan.  Vaulted ceilings in the Living Room and Master Bedroom.

2 Full Bathrooms - both recently remodeled!  HUGE New Deck ready for entertaining a crowd or relaxing alone.  Community pool, tennis, jogging trails, and lake. Conveniently located on the busline near shopping, banks, and restaurants.  New flooring in living areas and fresh paint throughout! This home will not be available for long priced at only $123,900 - Call or email Kelsie Compton for more information - or view online at www.TriangleChoiceRealty.com

Compare this home with other Homes For Sale In Planter's Pointe and call me for a tour of this home or any other homes for sale in Cary NC.

The Real Estate market in Raleigh, Durham, Chapel Hill and surrounding towns - The Triangle - North Carolina is definitely a "Buyers' market" but is not experiencing the severe downturn of other metropolitan markets.  The following detached home sales statistics were provided by the Triangle MLS for the month of February:

As you can see, while our market is not all "Sunshine and Smiles", over 1200 home sales were closed and (not shown on the chart) there were 1499 "pending" transactions at the end of February.  The bad news for Sellers is that our inventory is continuing to increase and the Sales Price to List Price ratio is continuing to decline. 

So, if you're considering selling your home, it's more important than ever to retain the services of a qualified, professional, REALTOR who will:  prepare a thorough and accurate Comparative Market Analysis, assist you in determining the List Price that will sell your home within your desired timeframe, assist you in preparing your home to appeal to the widest range of buyers, market your home to the greatest number of potential buyers, and effectively negotiate a fair & reasonable price and your desired terms. 

If you're a Buyer, realize this market is not as soft as many others around the country.  Again, a qualified REALTOR can help you find the home that best fits your lifestyle and help you negotiate the best price at which that home can be purchased.

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View Homes for Sale in Cary and the Raleigh-Durham-Chapel Hill Triangle Area of North Carolina  

There's an article today on the local  channel 11 ABC News' website titled "Local housing professionals drum up business" that is well written and factual, however gives the overall impression that the Triangle's real estate market is suffering as badly as other markets around the country.  The very first line of the article reads, "Home prices continue to fall across the country and the Triangle is no exception."  Contrast that with the first sentence of the last paragragh in the article, "In this market, Triangle home prices rose 3.6 percent in January compared to a year ago."  Hey!  Wait a Minute!  Sounds to me like the market's a heck-of-a-lot better here than in other markets around the country.

That said, our market is considerably tougher for home sellers this year compared to last year with more inventory and longer days on market (In January the average days on market was 92).  The average list price to sales price was 97% for 2007 but 92% in January of 2008 - still considerably better than many markets.  However, as indicated by the REALTOR quoted in the article, we are experiencing a buyer's market and if you are renting or do not have a home to sell, now is a great time to buy a home.  Interest rates are still very low, inventory is higher than it has been in several years, and builders are offering attractive incentives to home buyers.

The article refers to a home seller that is currently listed with her 3rd Real Estate Agent in 7 months and has not been able to sell her home.  There are a lot of factors that affect how long it will take you to sell your home, including:  asking price, the condition of your home, features of your home compared to others in the same neighborhood, your lot (do you need 4-wheel drive to get up the driveway of your home that backs to an interstate or are you water-front in a golf course community?), curb appeal, the number of other homes for sale or rent in your neighborhood, new construction availability in your neighborhood, etc.  Don't allow one homeseller's experience determine your opinion of the real estate market.

So - No, Chicken Little, the sky is not falling, but barriers to you becoming a new home owner may be!

If you or anyone you know is considering buying or selling a home in Cary NC or the Triangle area of North Carolina or is relocating to or from the area, contact Kelsie or Lisa Compton with RE/MAX UNITED for professional real estate services provided by folks who have "been there and done that." 
Visit www.TriangleChoiceRealty.com for more information.  REALTOR referrals welcomed.

                                      I went to the Cary Family YMCA for the first time since...I'm ashamed to admit how long...to get in a cardiovascular workout because I've gained ...I'm ashamed to admit how many...pounds.   While climbing away on their version of a StairMaster, I noticed a video clip on Fox News.  The FoxNews.com headline reads, "Wanted:  Fat Guys for All-Male MLB Cheerleading Squad."  It seems the Marlins are auditioning for "plus-sized" guys that can dance to join a new cheerleading squad called "The Manatees."  (Visit Fox News.com and check out the video link on the right side of their site).

After watching this clip, I reaffirmed my commitment to get to the gym at least 3 times a week - ‘cause I don't want to be a manatee! - although I nearly fit the profile:  minus the dancing skills:-)  Manatees are wonderful creatures and they're fun to watch at the aquarium - my doctor just doesn't like me being the size of one.

If you're relocating, new to the Cary NC area, or just looking for a gym in the area, check out all the Cary Family YMCA has to offer.  Some other fitness centers in Cary include, Beyond Fitness, Butterfly Life, Fitness Together - Lochmere, Fitness Together - Cary, Gold's Gym, Impact Athletics & Fitness Center, Namaste Yoga Center, Triangle Pilates, O2 Fitness, Peak Fitness, and I'm sure many more.  The key is to find a gym that's conveniently located and has the equipment, programs, and atmosphere that best suits you.  To put a twist to a familiar phrase:  The best gym is the one that you use.

 

If you're moving to Cary, NC or anywhere in the Triangle, contact Kelsie Compton or Lisa Compton with RE/MAX UNITED to arrange a tour of the area to find your dream home - and your ideal gym!

STONE CREEK

"Where Old World Charm Meets New World Comfort"
A Centex Homes Community

Stone Creek is a Centex Homes townhome community of 95 home sites located on High House Road in Cary, NC -zip code 27519 - just west of the intersection of Davis Drive and High House Road.  Centex offers "The Chateau Collection" with 10 foot ceilings and stone exterior designs available in 4 floor plans of homes for sale ranging in size from 1,928 to 2,534 square feet.  Base Home Prices range from $328,500 to $359,750.  Homeowner fees are $120/month.

Schools
Children attend Wake County Public Schools.  The 2007-2008 assignments are Green Hope Elementary, Davis Drive Middle School, and Green Hope High School

Shopping
Stone Creek Village shopping center is adjacent to this neighborhood at the corner of Davis Drive and High House Road.  Walk to Harris Teeter, Walgreens, Z Pizza, Sports Clips, Chik-Fil-A, Chop House Grille, and many more.

Search Homes For Sale in Stone Creek Village at www.TriangleChoiceRealty.com or Call Kelsie Compton or Lisa Compton to schedule a tour of this neighborhood!

Happy Valentine's Day!

Oh, wow!  I feel like Rip Van Winkle...

One day I'm so proud of myself for learning how to blog by making a 4th of July Blog post - and the next day (it seems) is Valentine's Day!  What happened to Halloween, Thanksgiving, Christmas, and New Years' Day?

Time flies when you're having fun...and when you're busy.

I read in the paper nearly every day how bad the real estate market is and how much home sales are below last year, but it's just not that bad in the Triangle area of North Carolina.

Luxury home sales have slowed considerably, but we've been busy with buyers of homes priced less than $300,000.

AND  - IT'S A GREAT TIME TO BUY A HOME! 

Interest rates are incredibly low and loans are readily available (ask Jim Moore at 1st Capital or John Dougherty at Beltline Financial Services) and there's plenty of inventory available in the Triangle MLS.

So...If you or any of your friends or family are considering buying or selling a home in Raleigh, Durham, Chapel Hill, Cary, Apex, or anywhere else in the Triangle - we're never too busy for you or any of your referrals!

Looking for a 10 minute commute to RTP?  Riggsbee Farm is conveniently located off Davis Drive just north of the High House Road intersection in Cary - Just 8 miles south of Interstate 40 and IBM and only 4 miles to Cisco.

Consisting of approximately 230 single family homes built by Drees between 1996 and 2003, Riggsbee Farm offers a community swimming pool, gated "kiddie" pool, covered rec. room with rest rooms, neighborhood playground, community sidewalks, and a community pond/lake with gazebo and walking trail.  The home owners' association fees include all this plus common area maintenance for only $46 per month.  Having only one entrance to the neighborhood limits traffic and enhances the community's safety.

Homes range is size from 2,131 square feet to 3,650 square feet on .2 to .4 acre lots and range in price from the low $300,000's to the high $400,000's.  Several different elevations for each model of home provides some variety while maintaining a consistent image.

Green Hope Elementary, Davis Drive Middle School, and Green Hope High School (check with your Realtor to verify schools - this is Wake County and school assignments change!) are all excellent schools and are currently the schools for this neighborhood.  Check out the details on Wake County Schools' web site.

The new Stone Creek Village shopping center at the corner of Davis Drive and High House Road makes it possible to walk or bike to Harris Teeter, Walgreens, Chick-Fil-A, and several restaurants and shops without crossing a major street.

Check out Riggsbee Farm's web site for monthly newsletters, HOA information, & calendar of upcoming events.

Welcome to my Blog! (and my 1st blog post - ever!)

My Wife (Lisa) and I are a Realtor team with RE/MAX UNITED in Cary, NC.  After 9 moves during our first 18 years of marriage(Blacksburg, VA; Lynchburg, VA (2 X's); Richmond, VA; Columbia, MD; Cary, NC; Gulf Breeze, FL; Alpharetta, GA; San Diego, CA, Lisa and I declared our independence from corporate life in 1997 and moved back to Richmond, VA.  Our oldest (of 4) child was preparing to enter high school and we had always said we would not move our children during their high school years. 

After 7 years of self-employment in Richmond, VA (Lisa as a Registered Dietitian Consultant and me buying/operating/selling a chain of convenience stores, service stations, and fast food outlets) and after our 2nd of 4 children graduated high school, we moved to our favorite town of all our previous relocations - CARY, NORTH CAROLINA!  We've always loved Cary and the Triangle Area because of the friendly people, great schools, great climate, and proximity to the beach, mountains, our families, and ACC universities.  What a great place to live, work, play, and raise a family!

Lisa joked that she could write a book about how to (and how not to) smoothly relocate with children, but instead obtained her real estate license in order to directly help people with one of life's most stressful events - Buying/Selling a home and moving!  A little over a year later, I earned my Brokers License and we joined RE/MAX as a team.  The last time Lisa and I worked together was as cashiers at a 7-Eleven store while we were engaged and attending Virginia Tech in 1980.  While we've both changed a great deal in 27 years of marriage, working a job together hasn't gotten any easier!

After working together at RE/MAX UNITED since June 2006, we've become closer and learned to appreciate our differences (most of the time :) ) and use our different strengths to best serve our clients.  Sooooo - if you or anyone you know is thinking about buying or selling a home in the Triangle Area of North Carolina, call the team that's "been there and done that" to help make your move as smooth as possible!

Oh, and join us in celebrating Independence Day!