Housing Market is Falling??

By
Real Estate Broker/Owner with Hannah Chan,CDPE,GRI CRS, CLHMS( Cary-Raleigh Realty, Inc) 250556

Housing Market is Falling??

Everyone is talking about the Real estate market is falling here. Honestly, I will tell them now is the best time to buy cause back to 3 or 4 years ago, you can never ever to negotiate with seller like you can do now. I got lots of phone calls and emails about buying all kinds investment from residential to commerical. Some of my trade up clients want to buy a basement home which they only need to pay a small difference after they sell their exisiting houses.

Also, the fundamentals here is so strong:

1)No Bubbles in Triangle- If you lived in California or other states like New York, New Jersey, Florida.....e.t.c double digit growth every year was very common back to 2001-2005. Everyone was in real estate no matter what their full time jobs were. They can be condo flipper, investor and it seems to me that you should at least owned 2 houses.

But Triangle is always like 5-6% appreciation in the past which compared to other states seems not attracting at all. We did not have lots of investors here and so the pressure from investors to unload their investments here relatively not that big compared to other states.

Strong Employment market - When you open the papers and you will see there are so many companies picked RTP, North Carolina as their strategic site. We have abundant PhD, top talents and skilled workers to hire. Many CA companies have an office in RTP would defintely understand that. More and more of their California workforce asked to relocate to North Carolina. Demand for the housing market is still strong even though I heard most of the companies had hiring freeze. Still, we expect lots of out-of-state family move here for better job and affordable housing.

Affordable Housing - If you want to find a house close to work, close to shopping, very good school and very close to airport....e.t.c I am sure you can find something like this but how much can you afford? In Triangle (Raleigh, Cary, Morrisville, Apex..e.t.c) You can easily find something very nice under $280K.

Excellent School - If you want to move in a good school neighborhood in some states, it will cost you at least a million to live close to the school cause the area with good schools are so expensive to afford. But you will find here if you want to live in the very school neighborhoods, you still have plenty of choices from condos, townhomes, starter homes...e.t.c.

Hannah Chan
CHK REALTY
919-426-1854

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