Raleigh, NC- Real Estate Update for March 2011

The biggest take away from the latest home sales update in March of 2011 is “stabilization”.  Home sales were down in Raleigh, NC for the first quarter of 2011 vs. 2010.  However, fewer homeowners have decided to put their homes on the market.  While the homes sales this year are down, so is the supply of new listings.  This consolidation stabilizes the Raleigh real estate market because “supply” and “demand” shrink in unison.

Watch this video provides a great explanation of the real estate market conditions in Raleigh, NC for March 2011:

New Five Points Listing- 707 New Road

Must see Charming Cape Cod style home near the Five Points area. This home is noted for its close proximity to downtown & Five Points, but offers a unique private & landscaped back yard ideal for outdoor gatherings. Delightful kitchen with solid surface counters, stainless appliances and vaulted ceilings. Recent updates include kitchen, bath, plantation shutters, flooring, & more.

To view price, square footage, room dimensions and more, go to 707 New Road Details.

To view virtual tour, click 707 New Road Tour.

Remodeling Cost vs. Resale Value

This article pertains to home remodeling in Raleigh, NC.  The 2010-2011 study released by HomeTech last month reported numerous renovation costs and its added resale value to the home.

What remodeling projects bring the highest return?

First impression matters!  Of the top 5 greatest return home upgrades, the top 3 winners this year can be categorized in the “curb appeal” department.  Coming in at number 1, the front door.  In the Raleigh housing market, spending a few extra bucks to get a high quality front door is well worth the added cost. 

One my favorite upgrades that appeared on the list is replacing siding with fiber-cement (often known as hardiplank).  Many homes that were built in Raleigh in the 80s and 90s were constructed with hardboard siding (often known as Masonite).  This material is known to rot if it is not caulked and painted every couple of years and it finds its way on every home inspection repair request. 

Here is the top 5 projects to your home that rake in the highest bucks are:

  1. Replace the old front door (cost recouped 102.1%)
  2. Replace the garage door (cost recouped 83.9%)
  3. Replace the siding (cost recouped 80%)
  4. Kitchen Remodel (cost recouped 72.8%
  5. Deck addition (cost recouped 72.8%)

Check out the latest study for the cost of a remodeling project as compared to the added resale value. Go to remodeling cost vs. resale.

Wilson Crow is a top selling Realtor for RE/MAX Capital Realty in Raleigh, NC. With over ten years of real estate experience, he has helped hundreds of buyers and sellers through the home buying or selling process. He specializes in the “Inside the Beltline” properties as well as the greater Raleigh Area. To view more information about Wilson Crow, visit www.wilsoncrow.com

Raleigh/Durham ranks 3rd for housing permits

Raleigh/Durham continues to show its resilience in the real estate market.  New construction activity is determined by the number of permits issued.  Based on these figures, the Raleigh/Durham market ranked 3rd in permits issued on a per-capita basis.  Not too shabby!

What does this mean?  Simply put, the Raleigh/Durham area is one of the few metros attracting people and businesses to the area.  As our area continues to expand, builders are ready to bring new inventory to the market.  Good signs ahead! 

Best home search website for the Raleigh/Cary area

Alright, I know that sounds a little cocky…but let me explain.  When I search from properties online, I hate all the banner advertisements that take forever to load.  This is how these websites make their money. 

I wanted to provide a home search website for people that was powerful, simple and advertisement free.  I am happy to say I did just that!  My home search does not have any advertisements that slow down the search and I will put it against any property search in Raleigh! 

My property search website searches every property available on the Triangle MLS and features:

  • Price, Sq. footage, Bedroom, & Bathroom Search
  • Map Search- search for any home, townhome, or condo via the Map
  • Single Family, Condo, Townhome Search
  • New Construction, Resale, and Foreclosure Search
  • School zone search, Subdivision search, zip code search, and Address Search
  • Save searches and automatically have emails sent when new listings come on the market

No login in necessary to search for homes in the Greater Raleigh and Cary area.  Give it a test drive.  Visit search the Triangle MLS.

Ten most common Pitfalls of buying a “For Sale by Owner” home

As a Realtor, I have assisted my clients in purchasing a home directly from the seller. When I look at the real estate transactions that have been the most problematic, an overwhelming majority involved a seller without a Realtor. I wanted to provide some of the most common problems I have experienced with For Sale by owners (FSBOs).

10. FSBOs don’t play by the rules or simply don’t know the rules.
9.   FSBOs do not provide correct information regarding the home.
8.   FSBOs do not provide easy access to view the property.
7.   FSBOs do not give you space when you are viewing the home.
6.   FSBOs tend to over price the home because they do not have access accurate home sales information.
5.   FSBOs do not understand the real estate contract.
4.   FSBOs are not held accountable if they misrepresent material facts.
3.   FSBOs do not handle repairs items from the home inspection report.
2.   FSBOs try to save on Realtor fees for their benefit, not the buyers.
1.   FSBOs do not leave the home as clean for the buyer.

Wilson Crow is a top selling Realtor for RE/MAX Capital Realty in Raleigh, NC. With over ten years of real estate experience, he has helped hundreds of buyers and sellers through the home buying or selling process. He specializes in the “Inside the Beltline” properties as well as the greater Raleigh Area. To view more information about Wilson Crow, visit www.wilsoncrow.com

New Inside the beltline Condo Listing

Sold on 4/29/2011

Meadow Wood Park

1,098 Sq. Ft, 2 Bedrooms, 2 Full Baths

Only available corner unit on the top floor! Open design floorplan features a “top of the line” kitchen overlooking light filled living room. Kitchen has all high end finishes with cherry cabinets, granite countertops & stainless appliances. Spacious master bedroom & walk-in closet. High ceilings with crown molding. Condo building  has a security code entryway and elevator.

To view more pictures and info, go to 1401 Coopershill.

To view virtual tour, go to 1401 Coopershill virtual tour.

Raleigh’s Housing Market Number 1 in the country!

Builder magazine just reported that the Raleigh/Cary market is the healthiest in the country.  With signs of a housing recovery, the Raleigh/Cary market is expected to recover quicker than almost any other city.  With the mortgage rates still hovering around a historical low, homes priced at a discount, and consumer confidence increasing, many analysts believe that 2011 will be one of the best years to purchase.  To search real estate in the Raleigh area, visit Raleigh property search.

Read more at News 14