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Journalist gets it Right! - great article in Sunday's "News & Observer" in Raleigh, NC
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 ... more

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