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

By
Real Estate Agent with Triangle Choice Realty, Inc.

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. 

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Rainer
350,674
* Rate A Home
Rate A Home - Saugatuck, MI

Kelsie, excellent ThemThem to Dudley Price. Its great to see when the hit the nail on the head.

Thanks for sharing with the Group.

Duane

May 19, 2008 04:21 PM #1
Rainer
14,970
Kelsie Compton
Triangle Choice Realty, Inc. - Cary, NC
Cary NC Real Estate

Duane - Thanks for visiting! ...and thanks for forming ThemThem - the more places we have to recognize folks or show appreciation, the better.

Best Wishes,

Kelsie

May 20, 2008 06:09 AM #3
Rainer
350,674
* Rate A Home
Rate A Home - Saugatuck, MI

Kelsie, you are welcome and thanks for being a part of our Group and sharing your ThemThem's with the world.

Have a great day in The Rain,

Duane

May 20, 2008 06:49 AM #4
Rainer
58,173
Don Draughn - Mortgage Professional
High Point, NC

You are right.  You do have to love that journalist.  He made a point to say hire an experienced real estate broker and to get preapproved before making an offer.  Great article.

May 21, 2008 04:38 AM #6
Rainer
24,352
Robert H
San Diego, CA

Almost all the residents who apply for a Charlotte Home loan are doing so AFTER they're under contract. This puts a lot of work on the lender, and they more likely to make mistakes.

May 22, 2008 10:17 AM #7
Rainer
14,970
Kelsie Compton
Triangle Choice Realty, Inc. - Cary, NC
Cary NC Real Estate

Don - Thanks for visiting! We often complain about negative, misleading or inaccurate press - it's only fair to hand out the gold stars for well written articles that accurately depict the current market and offer sound advice to readers.

Best Wishes,

Kelsie

May 22, 2008 11:45 AM #8
Rainer
14,970
Kelsie Compton
Triangle Choice Realty, Inc. - Cary, NC
Cary NC Real Estate

Robert - Thanks for visiting!  Our team has also noticed buyers' tendency to put off meeting with a lender.  We always counsel buyers to get pre-approved as their first step in the home buying process.  This first step saves home buyers time and the potential disappointment of falling in love with a home they may not be able to finance (and makes the transaction smoother for the lender, the REALTOR, the closing attorney and the home buyer).

Best Wishes,

Kelsie

May 22, 2008 12:01 PM #9
Rainer
3,464
Cindy Smith
Re/Max United - Cary, NC
Real Estate Soccer Mom
Kelsie, Thanks for pointing out the good press. I missed this article and enjoyed reading it.
Aug 11, 2008 03:42 PM #10
Rainmaker
354,838
Dale Terry
Yadkinville, NC

I think you have a winner!  Call the journalist and see if you can do a follow up story to prove his points.  You look good and get attention and he gets free copy!

Aug 12, 2008 12:55 AM #11
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Kelsie Compton

Cary NC Real Estate
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