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Raleigh,Cary, Wake County Blog and Relocation Information

Aug. 17, 2006 - Raleigh Cary Durham Apex Holly Springs NC Real Estate Blog

Welcome to my Triangle Area Real Estate Blog. This blog provides Cary NC real estate information and resources to guide homeowners and buyers through the process of selling and buying a house, townhome or even investment property. If you are interested in Triangle Real Estate, please e-mail me here for a personal response! Thanks and let's get blogging!

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Jan. 2, 2009 - Stylish Contemporary in a great location in Cary

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Description
A rare find! Extremely well maintained contemporary in a fabulous location in Cary off of Penny Road/Kildaire Farm Road in Windsor Oaks. Freshly painted, new carpet, and tile give the home a fresh new feel. Gorgeous view of the protected woods from the soaring ceilings in the grand family room! A must see!
Features
Bedrooms: 4
Bathrooms: 3
Parking Spaces: 2
Year Built: 1986
Subdivision: Windsor Oaks
Lot Size: .28
Garage Size: 2
School District: Athens
Square Footage: 2758
Agent Name: Tracy Santrock
Broker: Fonville Morisey
MLS #: 1639745
Location
Powered by vFlyer.comvFlyer Id: 2139644
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Jan. 2, 2009 - 2429 Tiltonshire - New Listing in Apex

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The outdoor setting is ideal for casual living and stylish entertaining.
Relax in style in the living room with gas fireplace and cathedral ceilings
Media/Gameroom ideal for a game of pool!
Spacious bedroom features vaulted ceilings
The outdoor pergola adds grace and charm.
Watch the beautiful sunsets through the enclosed glass sunroom
The outdoor setting is ideal for casual living and stylish entertaining.
Description
Comfortable living describes this immaculate 4BR home located on a large corner wooded lot. The setting is ideal for casual living and stylish entertaining. Enjoy graciously landscaped grounds from the custom stone patio, covered wrap around porch and large deck. Watch the beautiful sunsets through the sunroom. The spacious kitchen with island opens to cathedral ceilings in the family room. Master Bedroom w/retreat. Spacious Game Room/Media room! A must see!
Features
Bedrooms: 4
Bathrooms: 3
Parking Spaces: 2
Year Built: 2000
Subdivision: Whitehart
Lot Size: .80
Garage Size: 2
School District: Middle Creek
Square Footage: 2674
Agent Name: Tracy Santrock
Broker: Fonville Morisey
Location
Powered by vFlyer.comvFlyer Id: 2133811
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Dec. 11, 2008 - Cary NC Luxury Market Report

Yesterday I wrote a market report on Triangle Luxury Homes. I knew the market was soft but the numbers really tell the story. Since I live in Cary I wanted to break the numbers down even further to see what is selling and at what price ranges. Our leading expert in the area Stacy Amphinson that writes the TARR Report breaks down the luxury home market as anything above $500k. For this analysis I've included homes priced $700k and above because I think that provides a better picture of the true Cary Luxury Homes Market.

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In Cary there are a couple of other elements at play. In the past homes in established neighborhoods like MacGregor Downs and Preston sold incredibly well because the neighborhoods were well established and had golf course views. A couple of years back when the real estate market was booming the custom builders decided to ramp up new construction. As a result, new construction has had a big impact on resale homes in this segment.

For the sake of this analysis I'm going to break down the homes into four price points:

  • $700,000-$800,000
  • $800,000-$1M
  • $1M-$2M+ and $2M+

All figures are bases on numbers pulled today December 8, 2008 and are from the Triangle MLS:

Photobucket

 

Here are a few observations that relate back to my comments above:

  • From the report I ran yesterday we learned that at $197/square foot Cary's Luxury homes are less expensive than homes in other popular Luxury Home communities in the Triangle
  • Of the 91 Homes that have sold above $700k YTD 58 of them were new construction
  • Top Selling established neighborhoods include MacGregor with 12 Sales & Preston w/8 Sales
  • New construction neighborhoods selling briskly include Copperleaf, Rennaisance at Regency, Greyhawk Landing, Governors Row, and Glenkirk(which is now complete)
    There are currently 3 pending sales in the $800k-$1M range in Cary. All 3 are new construction
  • In the $700k-$800k price range there are 8 pending, 1 of which is my listing
  • Homes in the 2M+ range are found in Chapel Hill, Wake Forest, and Raleigh but fewer in Cary
  • $700k-$800k is a good price point in Cary and has been selling well. Thre were 41 sales YTD in Cary.
  • Supply on Market climbs as the price point increases. In the 2M+ range based on this years sales it will take 3 years to clear out the inventory.

If you have any questions regarding this report or would like more information on the Cary Luxury Home Market please feel free to email me or visit my website for more information.

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Dec. 7, 2008 - Triangle Luxury Home Market in Trouble

Yesterday the N&O announced that Suntrust will be seeking foreclosure proceedings on Hasentree, a Creedmoor Partners development.   That, just on the heels of prominent MacGregor Development companies announcement that they are seeking bankruptcy protection. The next domino in the Luxury Home Market to fall will be Wakefield Development which is developing the 12 Oaks project in Holly Springs. The developers in the area had tremendous success with previous developments like Preston, MacGregor, and Wake Forest  and led them to believe that they could continue to build $700k plus homes. With the recent downturn in the economy and economic growth slowing to a standstill they couldn’t have been more wrong. 

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Dec. 7, 2008 - The Real Estate Cycle in Plain English

I mentioned in my latest Market Report that the Triangle has finally fallen into the real estate cycle that has managed to capture the rest of the nation.  The consensus in the Triangle Real Estate market is that we will be that last ones in the downturn and the first ones to emerge from the downturn. Another point that should be made is that single family homes less than $300k still have a substantially lower supply on the market than the rest of the country and are continuing to sell.  The luxury home market is the market that has been hit hardest with inventory up to 24 months in most Triangle towns.   

As I was doing some research I came across a youtube video by John Burns that explains the current housing market and how real estate is cyclical. We’ve been through downturns before and this cycle is truly no different than others. It’s a cute video and describes the “real estate rollercoaster”. 
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Nov. 16, 2008 - Breckenridge in Morrisville, NC - A wonderful community to call home

I recently listed a townhome in Breckenridge Manors II and, since it's such a wonderful community, I thought I'd write about the neighborhood.

Breckenridge is a very desirable neighborhood because of its affordability, proximity to RTP, 540, and the neighborhood feel. The grand entrance, wide roads and sidewalks, kids playing in the neighborhood all contribute to the neighborhood being so popular. A lot of employees from the Park like Breckenridge because it makes the commute easy on families - your just minutes from Cisco, NetApp, IBM, and Nortel. There really is something for everyone in this neighborhood where prices start in the low 200s for the townhomes and peak in the low $300s.

City: Morrisville, North Carolina

Directions:

From Cary: Take Davis Drive North. Left on Parkside Valley. From RTP: I-40 to Davis Drive South. Right on Parkside Valley.

Amenities Include:

  • Grand Clubhouse
  • Two swimming pools (one for adults, one for children)
  • Five lighted tennis courts
  • Walking Trails
  • Playground
  • Pond

Builder:

Different Sections Include:

  • Lake I&II
  • Manors I&II
  • Terrace I&II

Check out the Breckenridge HOA's website for more information or view my slideshow tour above. To view homes for sale in Breckenridge click here. To view a map of the location click below.


View Larger Map

 

 

Related Posts:

 

Things to Do with the Kids in the in Triangle

 

Top 5 Things to Do in the Triangle Area of North Carolina

 

Triangle Ratings

 

Detailed information on RTP

 

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Nov. 3, 2008 - Q32008 Market Absorption Rate for the Triangle

Recently I wrote about the Wake County Market Conditions for the area and compared the results of the sales year over year. It gives one a good look at our current real estate market and what is happening in the market. Debbie Maxwell just published her Market Report and, along with it, she provided information on the current absorption rate in Charlotte. As an addition to my report I've decided to include this information as well. What is interesting is that the numbers for the Triangle are very similar to the numbers in Charlotte, with the exception that the spread between List Prices and Sold Prices is much higher in the Triangle.

So, what is the absorption rate for a market? The absorption rate is basically the representation of the relationship between supply and demand. The total amount of available product is divided by the total amount of product sold in the previous month. The resulting number represents the number of months it would take, at that same pace, to sell the entire inventory of product.

  • "Normal Market" conditions exist when the Absorption Rate is between 6 months.
  • "Sellers Market" conditions exist when the Absorption Rate is lower. (1-5 months)
  • "Buyers Market" conditions exist when the Absorption Rate is higher. (7+ months)

Based on the numbers for the Triangle we are currently experiencing a Buyers Market like much of the rest of the country. With 10 months supply of inventory we have an oversupply of inventory. What is interesting to note is that, while we have an oversupply, homes are still selling at 97% of list price. This means that homes are selling in the area. There were 1792 closed transactions in the previous month. However, the current crop of sellers still isn't very flexible in coming off the price of their homes.

absorption rate for the triangle

Next month, when I throw in the Market Absoprtion Rate for the area you will be familar with the term and it will hopefully give you the "big picture" on the current trends in the Market.

 

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Oct. 31, 2008 - Park Village in Cary - Affordable living in a great location in Cary!

City: Cary

Location: Next to Davis Drive Elementary & Middle Schools

Directions: From RTP travel South on Davis Drive past the Davis Drive Schools onto Park Village Drive into the subdivision.

Neighborhood Facts:

  • Price range is from the low $200s
  • Next to Davis Drive Elementary!

 

Park Village - What a great neighborhood!! I used to live here also. These homes were built in the 1995/1996 timeframe by what was then called Sunstar Homes. Since then Sunstar has been purchased by 1st American Homes.

Located next to Davis Drive Elementary & Middle Schools, Park Village offers a nice, affordable community in a premium location! Prices range from the low $200s for the smaller homes to the high $200's for the larger homes.

Park Village is a beautifully landscaped community with 604 homes and features jogging trails, a playground, a clubhouse, and a swimming pool! The location is right off Davis drive and many parents even choose to walk their children to the outstanding school next door! Please note that the front of the neighborhood attends Davis Drive schools and the back of the neigbhorhood attends Salem Elementary & Middle Schools at this printing.

Park Village is close to the new Stonecreek Village Shopping Center located at Davis and High House around the corner from my office. To view listings in Park Village click here. To visit the Park Village HOA website click here.

 

 

 

 

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Oct. 31, 2008 - Lochmere in Cary, NC- Cary's 1st Planned Community

City: Cary, North Carolina

Address: Kildaire Farm Road & Lochmere Drive

Neighborhood Facts:

  • Age range is 1980's-1990's
  • Price range is $250,000-1 million
  • Prime Location in East Cary!

Lochmere was the first PUD in Cary. What is a PUD? A PUD is defined as a planned urban development. One of the features of a PUD is the community is designed with the intent to have plenty of amenities and common areas. Lochmere is just that-its has a tennis club, jogging trails, community pool, lakes, and that feeling of a comfortably established neigbhorhood with lots of trees. There is even a semi-private golf club onsite. If you like activity, you should call Lochmere home.

Lochmere is such a large community three area a wide variety of choices from Townhomes low $200's to an awesome lakefront home hitting the seven-figure mark! For the most part, you'll find the prices in the $300's and $400's for homes built in the mid 1980's to early 1990's.

 

Location, Location

One of the other great features is Lochmere's prime location in east Cary. Three premium grocery stores, includingthe new Trader Joes, a Whole Foods Market, Western Wake Hospital. There area also lots of restraunt choices like 42nd Street and others are just a few of the close amenities!

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Oct. 10, 2008 - WoodCreek in Holly Springs - A Stellar John Wieldand Community

At the start of 2008 I moved into a John Wieland home. We knew John Wieland built quality homes and that is one of the reasons that we purchased one. John Wieland Homes and Neighborhoods were ranked highest in customer satisfaction among new home builders in Charlotte in the 2008 New-Home Builder Customer Satisfaction Study recently released by J.D. Power and Associates. This was the second consecutive year in a row for the award.

So, what are the factors that JD Power & Associates used to determine customers satisfaction?

  • Builder warranty(the best in the industry 5/20) and customer service
  • Construction manager
  • Builder's sales staff
  • Home readiness
  • Price and value
  • Workmanship and materials
  • Recreational facilities
  • Builder's design center and location

That said, John Wieland's latest community in Holly Springs, NC will not disappoint.

City: Holly Springs, North Carolina

Location: Take Rte. 1 South to exit 95, Rte. 55 and turn south. Continue 1.5 miles to Rte. 55 split and go left (Technology Dr/Williams Street). Go less than a mile and turn left at first traffic light on to Sunset Lake Road. Travel 2.3 miles to WoodCreek on your right.

When the neighborhood is complete there will be 300+ homes in three sections varying in size and construction. The sections include:

The Preserve

  • Prices from the $450's to low $500's
  • Six plans available from The Preserve Collection
  • Square Footage: 3,300 to 4000 sq. ft.
  • Side Entry Garages
  • Brick Fronts with Stone Accents

The Overlook

  • Prices from 550's
  • Over 40 plans from JW's Signature Portfolio
  • Square Footage: 2,800 to 4,200
  • Side Entry Garages
  • Third Floor walk-ups available

The Glen

  • Prices from $380's
  • Plans from Habersham Collection
  • Square Footage: 3,200 to 4,000
  • Front Entry Garages
  • Hardiplank Siding

Planned Amenities Include:

  • A newly designed clubhouse
  • Hard court Tennis Courts
  • Oversized swimming pool w/a giant waterslide
  • Lazy River & Water Play area
  • Children's Playground
  • Basketball Court
  • Sidewalks, Walking Trails, Natural Areas

Check out Woodcreek's Website for more information, view my slideshow tour below, or contact me directly if you'd like more information on this community.

 

Related Posts:

Apex, NC & Holly Springs, NC Make Money Magazines 2007 Best Place to Live

Holly Springs - The fastest growing town in the Carolinas

Holly Springs, NC Real Estate Market Conditions

 

 

 

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Oct. 10, 2008 - The Villages of Apex - Historic, Contemporary, Extraordinary

Earlier this year, in March, I attended the Grand Opening of the Villages of Apex. Other than the townhomes there really wasn't a whole lot to see. The custom home section had yet to get started and the project was just getting underway. The neighborhood has really progressed since then and it is shaping up to be one of the most charming neighborhoods in Apex. As a result, this planned community received a well deserved award as the 2008 North Carolina Homebuilders Association Parade of Homes Community of the Year.

The Villages of Apex won first place in the following categories:

  • Best Master-Planned Community
  • Best Logo
  • Best Brochure
  • Best Television Commercial

There really is something for everyone in this neighborhood where prices start in the low 200s for condos/townhomes and peak in the upper $400s.

City: Apex, North Carolina

Directions:

From Raleigh:  Head East on I-40 to HWY1/54 Exit.  Exit 64 West towards Ashboro.  Approximately 3 miles West, take a left into the Villages of Apex.

 

Planned Amenities Include:

  • a private elementary school
  • a 13-acre park
  • 35 miles of walkways
  • 220,000 square feet retail shops
  • 80,000 square feet of office space

One of the neat aspects about the Villages of Apex is its walk-ability aspect. Walkscore.com has done a study of the different aspects of a neighborhood to see how close amenities are to the neighborhood. I'm certain the Villages of Apex will score well in terms of a central location near the library, grocery stores, coffee shops, gas stations, and downtown Apex!

Here is an idea of the custom builder team that will be building at The Villages of Apex:

  • Apex First Development
  • Cattano Construction, Inc.
  • Cotton Custom Homes
  • Horizon Homes, Inc.
  • Jerry Smith Builders
  • Kerr-Smith Homes & Land, Inc.
  • North Hills Homes
  • Oak City Homes
  • Phelan Building, Inc.

Developer:

  • Apex First Development Inc.

Sections Under Development:

  • Sterling at Old Mill Village - Condos over retail
  • The Regents at Old Mill Village - Luxury Townhomes
  • The Villas at Old Mill Village - Luxury Patio Villas
  • Live Works - Townhomes over Commercial
  • Village Walk- Townehomes over Commercial
  • The Georgetownes- Georgetown style Townhomes (Other than Amberly Georgetowns this is unique to our area)
  • The Brownstones - Brownstone style Townhomes (Another unique project to the Triangle)
  • Carriage Walk - Carriage Townhomes
  • Village Station - Class A Offices over Retail
  • Windrose - Custom built Single Family Homes by the Builder Team above
  • Luxury Townhomes

Check out The Village of Apex's Interactive Neighborhood Website for more information, the sitemap, video, or view my slideshow tour below.

 

 

 

Related Posts:

Why should your family choose Apex, NC for your next home?

Apex NC Real Estate - It's a Great Time to Buy in Apex, NC

 

 

 

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Sep. 27, 2008 - Halle Cultural Arts Center Receives Preservation Award

Downtown Apex has been going through a major transformation in the past few years with the intent of developing businesses in the area and also creating a great destination point for residents.  One area the Town of Apex focused on was the development of a world class cultural arts center.  We now have that in the heart of Apex - the Halle Cultural Arts Center. 

The recently renovated Halle Cultural Arts Center in Apex is gorgeous.  If you haven't stopped by make sure you do the next time you are in downtown Apex.  I'm not the only one that recognizes the success of the recent updates.  This month the Arts Center received the 2008 Anthemion Award from Capital Area Preservation.   

I asked myself, what is an Anthemion Award

The Anthemion Award recognizes outstanding dedication and committment to excellence in historic preservation in Wake County. An "anthemion" is a classical design element dating from Ancient Greece that is inspired by the fan-shaped leaves of a palm tree. "Anthemion" is the Greek word for "flower."  Aww! 

Way to go Apex! Just another reason to call Apex, NC home. 

Related Posts:

Why should your family choose Apex, NC for your next home?

Apex NC Real Estate - It's a Great Time to Buy in Apex, NC


 

 

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Sep. 25, 2008 - Thinking of relocating to Cary, NC?

Relocating to a new town can be scary for just about anyone. New friends, new Doctors, new grocery stores, new schools, a new routine all together. I know that if I was thinking of moving to a new town I would get on the internet and do research on the different areas. Many of my clients have done just that and found out about Cary, North Carolina on the web. They heard it was a great town and decided to check it out online before taking the big plunge to make the move.

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Here are some important questions that buyers ask me on a regular basis that I thought I'd share with you on relocating to Cary, North Carolina.

What are the schools like?

Cary schools are a part of the Wake County Public School System and continue to rank as some of the highest rated schools in Wake County. Many are still on the traditional school calendar also. The Triangle area is also home to several major universities and colleges.

What's the weather like?

I grew up in Dallas, TX and I always talk about the Four Seasons here in North Carolina. I love the outdoors and, year round there's always something blooming in Cary. Our temperatures are seasonal, but moderate. We are lucky enough to escape the extreme cold winters characteristic of the North, and does avoid the drastic heat in places like Texas and Florida.

Winters are short and mild, arriving in mid-December and ending by early March. Snow and sleet are recorded once or twice a year, but seldom to the extent that it accumulates. Children are known to get very excited when snow is in the forecast, anticipating a day off from school.

Because I love to garden, Spring is one of my favorite times of year. The weather is moderate and all of the flowers begin to bloom. Some of my favorites include dogwoods, redbuds, azaleas, daffodils, and tulips to name a few. Spring continues through April with temperatures in the high 60's and low 70's.

July can get a bit hot and sticky. As a result many residents flock to the beaches of the mountains. There are days where temperatures reach well into the high 90's.

Fall is my favorite time of year. The leaves change, the weather cools off, and it really gives families time to enjoy the great outdoors.

What is the job growth like in the area?

The National economy is currently in a state of turmoil, and, although job growth has slowed, the Raleigh-Cary area is No. 2 on a new list of metropolitan areas that are creating and sustaining jobs and economic growth. Raleigh-Cary came in No. 1 for job growth between March 2007 and March 2008. In the past five years the Research Triangle Regional Partnership set a five year goal to create 100,000 jobs in the area and they are on track to succeed. Their next project to sustain growth is being touted at "Staying on Top 2" with the intent of continuing the success achieved in the past five years. Although corporate growth has slowed since April there are 44 new potential businesses that would generate $1.6 Billion in revenue and another 15,000 jobs.

What is the cost of living like and how much can I expect to earn?

Many clients that visit the area expect to get a lot more for their money than where they are coming from. In most cases this is true, however, the popularity, national exposure, and Cary, NC's proximity to RTP home prices in Cary, NC have continued to steadily appreciate even with the current real estate market conditions. Most of my clients also want to know about taxes and insurance. Real estate taxes are reasonable right at 1% of the assessed tax value. In Cary real estate assessments are done every eight years. North Carolina Income Tax varies based on income with the maximum rate for incomes over $120,000 at 8%. North Carolina Sales Tax is currently 4.5%. CNN Money has a great calculator that compares one cities cost of living to another. It's a great way to compare where you're living today vs. Cary, NC. Cary, NC has the highest median household income in Wake County ($89,623) and more than two-thirds of Cary residents hold a college degree.

What will my commute be like?

In most cities if you live in the suburbs you will commute from your hometown into the "big city". In my area that would be Raleigh. In the Triangle area residents commute into the RTP (Research Triangle Park) area rather than downtown Raleigh. Now that the widening of two major alternative routes to I-540 (HWY 55 and Davis Drive) has been completed the commute into RTP is a quick 10-15 minute drive to the major employers in the area. Cary is also a quick commute to the RDU Airport and the 3 Major Universities in the area.

There are a number of other considerations to think about when moving to new town. Thank you for stopping by and taking a look at Why I love Cary, NC! If you would like more information on the area view a longer video on Cary here with actual interviews with Cary residents or visit my website for more information.

 

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Sep. 24, 2008 - Foreclosure help in North Carolina - Gov. Easley Signs 3 New Bills

But The North Carolina Foreclosure Prevention Project will help struggling families keep their homes.

In an effort to reduce the number of foreclosure filings in the state, North Carolina Governor Mike Easley signed into law three bills that will give homeowners a chance to win their struggles with foreclosure. The first bill established the North Carolina Foreclosure Prevention Project, a program under which homeowners as well as the bank commissioner of the state will enjoy a 45-day notice before the foreclosure filing. In addition, the bank commissioner can extend the notice by another 30 days if the case warrants.

During such time, the state will assist in the negotiations between the lender and the homeowner until a new payment arrangement and mortgage interest rate have been established. The said legislation will be able to provide help to over 25,000 homeowners.

The other bill tackled the issue of yield spread premiums, which it permanently eliminates after critics considered it as an incentive for mortgage brokers to charge borrowers with higher fees. The last bill requires all loan servicers in the state to register and submit reports to the bank commissioner.

All these new legislation will certainly help fight the spreading problems brought about by the foreclosure crisis. Considering that one of the reasons for the present mortgage mess in predatory lending practices, it will help that loan servicers are being monitored and regulated. Aside from this, many homeowners will benefit from the assistance since majority of them are not aware of the foreclosure process and can not make informed decisions because of this.

With the North Carolina state government extending its hand to these struggling homeowners, many families will be able to stay in their homes.

If you live in the Cary NC Real Estate area and are facing foreclosure please send me a private email or call me for a consultation.  There are ways that Realtors can contact the banks to make private arrangements rather than go directly into foreclosure. 

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Sep. 16, 2008 - Wake County Market Conditions - September 2008

It's that time of year again - the time when the market slows down a bit, the kids are back in school, and we get to take a look at where the market has been and where it's headed.

What is going on with the real estate market in general?

Gas prices are at an all time high, lending institutions are in total disarray (most recently we can point to the bankruptcy of Lehman Brothers, aquisition of Merrill Lynch), the US housing market is in serious trouble in a number of areas in the country, and the stock market itself was expected to recover with the housing market and that just hasn't happened. Our residential real estate market depends upon the free flow of buyers and sellers. Our market is currently stuck as many inbound transferees cannot sell their out of state residences, many of our outbound transferees cannot sell their local residences and there is a crisis of confidence among a large portion of potential buyers which is playing a role in the ability to sell. While we continue to be praised nationally for strong job growth and a healthy economy the most recent update is that our market, especially in the high price ranges, has taken a beating.

How do sales this year compare to the banner years?

2006 was a banner year in Wake County. Sales were at an all time high. I thought I'd include numbers from the MLS that indicate the change in the market year over year for your reference. Comparing August 2006 numbers with August of 2008 numbers the changes are quite dramatic:

  • Supply of homes on the market is up 28%
  • Number of homes under contract is down 41%
  • Number of homes closed is down 44%
  • Average Days on Market are up 27% (83 DOM vs 65 DOM in '06)

Time Period For Sale Under Contract Sold
August 2008 11,899 1,084 1,151
August 2007 10,861 1,474 1,022
August 2006 9,328 1,851 2,073


What about the supply of inventory for Wake County in particular?

  • The average supply in the Wake County area is running at 8.7 months supply. This is a significant change from the 3.7 months that we saw back in August 2006 - up 138% during this timeframe.

What about market appreciation?

Fortunately, in this area, we have not had the run up in prices experienced around the rest of the country which has helped maintain some stability in sales and pricing. And, appreciation rates have remained stable in Wake County at 4.5% vs. -4.8%% for the rest of the US in 2008.

Here are some additional market variables that a seller must consider before selling in the current market:

  • Higher inventory and fewer closings have produced an oversupply of inventory in all price points above $450k
  • Price reductions are up: There has been a 73% increase of sellers taking price reductions

Is there any good news in this segment?

As you can see from the change in price reducations recently it's clear that sellers are finally realizing that Wake County Real Estate is now a buyers market. Up until this fall I had a hard time convincing my sellers that the market had shifted and that, to be competitive in this market, you have to be priced in the Top 3 along with having all of the other wonderful attributes and updates needed to sell a home today. Hopefully the bailout of Freddie Mac and Fannie Mae and the competitive mortgage interest rates will help more Wake County home buyers step up and buy a few homes! Now is a great time to buy in Wake County.

Visit my website or Email me at Tracy@TracySantrock.com for more information on Cary NC Real Estate or the Triangle Market in general.

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Sep. 14, 2008 - Community Ratings? Are they important?

 

 

Do they really mean anything?

What do they tell you about a community?  

I believe Ratings are important and do give you a real sense of what's going on in the area.  I've written several posts on the Raleigh-Cary, NC area because I absolutely love where I live, work, and play.  Just last month I wrote about Why I love Cary, NC . And, here is a post I wrote earlier this year called 2008 Triangle Accolades - The list keeps growing about the many accolades that have been bestowed upon the Triangle.  

It looks like I'm not the only one singing the Triangle praises.  The secret is out and the Raleigh - Cary area has been discovered.   There are over 18,000 people moving into this area on a year-to-year basis. I decided to write this post today because The Milken Institute just released their Best Cities for 2008 and the Raleigh-Cary area came out #2!!! I'm not sure why they chose Provo, Utah as number 1 but I'll get over it.  The list also puts Wilmington at No. 6 and Durham at No. 21.  Among other North Carolina metros, Charlotte ranks No. 26, with Asheville No. 46, Winston-Salem No. 99 and Greensboro No. 141. 

In my next post I'm going to write about the many things that my clients look for when they are moving to the area.  I truly believe this area has it all.  So, if you are considering a move to North Carolina or the Triangle area give me a call - we have a lot to talk about!  

Revolving List of Accolades

 

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Sep. 13, 2008 - Listings & My Commitment to Internet Marketing

I recently wrote a blog to one of my clients that I have the house listed entitled, "Dear Mr. & Mrs. Seller Your Fonville Moriey Listing AgentHouse Hasn't Sold".   The purpose of the letter was to let my clients know that the listing agent is ultimately responsible for the sale of the home but the seller also plays a role in making this happen as well.   Even the best intentions won't pan out if the seller doesn't go along with the marketing plan.  Thankfully, with the help of a post where I solicited advice from Activerainers called Need Listing Advice from opinionated AR Listing Agents-Are you one of them?, I shared the feedback with my client and their willing response to the feedback ultimately allowed me to sell this listing in less than 45 days.   If you read the blog you would probably notice that this home sat on the market for over a year before I took over the listing. 

I asked my client why he chose me to sell his home and he had indicated that he was incredibly impressed with my ability to get the word out through the internet.  He wanted to know how I successfully continue to be listed at the top of the rankings in my area and have such high search results on the major search engines - Google, Yahoo, and MSN to name a few.    

That said,  I read a post by  Brian Block's recent post "Preemptive Blogging.....Impress your Sellers with your SEO" and post by Broker Bryant entitled, If you really are "The Expert".....then show them. Push the juice.  which has lead me to write my own blog where I show you how internet marketing and search engine optimization has helped me with my business and also pleased my clients.  The bottom line - All agents are not created equal and it's an agents job to make sure that the home that your marketing doesn't blend in with all of the rest.  You have to make sure your clients home gets the exposure and rises above the other homes in your market.

Another Sold Fonville Morisey ListingIn addition, I've decided to write another letter that I will use with my sellers in my listing presentations that will demonstrate how successful my strategy has been.  The results are out there - it would be CRAZY for me not to demonstrate my talents and marketing abilities. 

Dear Mr. and Mrs. Need T. Sell,

It was a pleasure speaking with you earlier today and I am looking forward to meeting with you tomorrow to get your property on the market. I will send over a preliminary Market Analysis later but thought it would be helpful to you if you did a little research on me first. I just know that you're the type that does your homework.  Here are some links that will give you a great idea of who I am and how I handle my business. They will also give you a sampling of how your property will be displayed on the Internet. So click away and enjoy.  OK here goes:

My web site:

My blog sites:

A little personal info on me:

Top Searches in the Cary real estate market:

Top Searches for Cary NC Real Estate Agent:

Fonville Morisey searches and comparisons:

Top Bloggers in Cary:

Internet Ads:

Realtor.com Enhanced Listings

  • Only agents that buy an "Enhanced Listing" package are able to write descriptive information on their properties.  I have the ability to Enhance My Listings, Ad Banners, and customize the content readers see online.  Realtor.com is the #1 site for Homebuyers.  Why go with an agent that doesn't offer this service. 

Why Fonville Morisey?

If you are thinking about selling your house in the Triangle area in 2008 keep this in mind:  Just think about the fact that over 80% of prospective buyers start their home search on the internet.  If you sell your home with me you will receive maximum exposure on all the major search engines, Craigslist, and other mediums.  In addition, I will make sure that all of the Marketing that I do on your home online will be syndicated to other content providers like oodle, vast, hotproperties, and others sen below. Your property will receive the exposure needed to sell your home in record time.

If you area an Activerain Member keep this in mind:  In 2008 you will want to use the tools that you have learned through Activerain, ePro, and others to let others know the good news about you and your business. 

  Related Posts: 

Multiple offers in a Buyers Market & the New North Carolina Rules

Fonville Morisey Listing Agent>>First Impressions Mean Everything To Buyers, Especially During the Holidays

Why choose Fonville Morisey for your next Realtor® in the Triangle Area?

 
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Sep. 13, 2008 - A Tribute to my Grandfather - D-John

Purple Heart AwardIt's been a tough week for me so I haven't been able to write any blogs.  My grandfather, D-John(which is short for Daddy John) passed away after a long illness with Alzheimer's.  My grandmother asked for me to be the family spokesperson at the funeral! Wow! What an honor.  My grandfather was an incredible human being - someone I admired dearly.  Here is the eulogy I delivered - If I have a chance I'm going to upload the video that played while we were at the funeral. 

My beloved grandfather, John F. Santrock, was a man of many talents, and his sphere of influence reached far and wide, as can be verified by the number of people here today. How could you not like John Santrock? If he had an enemy, I never knew it. When one reads his obituary, the question to be asked is, "How did he do it?" He has left us a legacy of good works so grand that it is hard to comprehend where he got the energy. Yet he accomplished all this with such gracious humility. 

First he was a war hero.  My grandfather served his country with pride in WWII.  As a kid I vividly remember D-John telling me about the WWII invasion that followed the attack on Normandy beaches just a month after D-Day.  I was absolutely fascinated with the fact that D-John had been shot (9-11-1945), captured by the enemy, marched through the streets of Berlin, and still managed to escape by walking through Russia to safety in Poland. D-John received a Purple Heart for his bravery.  

D-John lived his entire life in Nitro, WV and was a patron of the community.  D-John loved his small town and loved the people of West Virginia.  D-John would often tell stories about his alma mater, Marshall University, talk about the great athletes from WVA, and of taking dad and Shauna to tennis tournaments in Wheeling, WV.  As a life long teacher and educator D-John's students and teachers all benefited from his talent, vision, and caring. He loved to be around people from all walks of life to, teach them, learn from them, and to share his life's experiences. Everyone in town knew my D-John - his kindly manner, genuine caring, and good natured attitude.      

D-John was a man of few words and a wonderful listener.  He never interrupted the flow of a person's thoughts, and when someone was speaking he gave his full  attention. He made everyone he came into contact with feel important, because he gave the sense that he valued the input of even the least person in the world, because he believed in the worth of others, and saw no reason for placing himself above them.  Towards the end he really didn't say much, but when he did say something it was always something of true meaning.  

Most important of all D-John was a devoted family man.  My sister Jennifer and I were lucky enough as kids to spend a lot of quality time with our grandparents. We lived in Texas in the winters and would spend the summers in WVA.   It was like a great vacation for my sister and me.  We always felt at home with Mama Ruth and D-John.  We still do.  

D-John, a man of incredible coordination and gifted athletic talent, he was skilled at golf, bowling, tennis, ping pong, pool, and just about every sport he picked up.   I remember going to the club with D-John and having him play tennis with me day in and day out.  The way he played tennis exemplified his approach to life in general. He was consistent and kept every ball in play. His greatest strength in tennis was his determination to get every ball back no matter how hard it might be to get to it. Once when we were playing I hit a strong shot down the line and was so confident that I had won the point that I raised my arms in a sign of victory. As I did this, the ball came flying back crossed court for a winner.  I'm considered to be a pretty decent player but I never beat D-John.  On another noteworthy occasion D-John visited our family in Texas and we decided to go bowling.  D-John downplayed his success at sports in general and told me that he hadn't played in over 10 years.  At 70 years old D-John beat us all with a score of 180+! Now that's what I call talent!  

D-John was always there for us.  As my sister and I were growing up in Texas D-John devoted time to his family and taking my sister and me to countless tennis tournament's to help us be the best we could be.  In the summertime we played in the Western Open in Ohio and stopped at the Football Hall of Fame.  Each year we played in two big tennis tournaments in Texas - the Texas Sectionals in the Fall and the Houston Coca-Cola Open in the Springtime.  Mama Ruth and D-John came to every match and patiently watched us play - always supportive, encouraging, and confident in our success.  When we were down and out he told us to get back up and keep on trying. It wasn't the end of the world - we would live to play another day.   

D-John also had a love of flowers and gardening.  Each summer I visited I would admire how D-John carefully tended to his beautiful garden.  He patiently explained that the flowers didn't flourish magically, that they required a daily effort of nurturing, watering, and caring for them.  Since I showed interest, and D-John being the consummate educator, he told me all about the Hydrangeas, Chrysanthemums, daylilies, and other varietals.  To this day I remember the things he taught me and use them in my own garden.    

I'm sad that D-John's no longer with us. But I am grateful that he's not suffering any more and I'm especially grateful for all of the years I had with him.  After surviving the war and coming back to the states he lived such a bountiful life.  To be able to see his children flourish, his grandchildren grow up to have families, and even to see his great granddaughter preparing for college.   I believe he was truly blessed. 

So as we commemorate his life, we celebrate the legacy he has left us. His legacy is in his family and his friends. His legacy is the people that he has helped, and in the lives that he has touched. He has left us his legacy as an admired war hero, community servant, athlete, and a family man.  And now this history is in our hands to carry on where he left off.

 May he rest in peace forever.

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Sep. 7, 2008 - Testimonial Submissions for Tracy Santrock

Since my blogs don't have any of my testimonials I thought I would include a post that has submissions from a variety of my clients. 

Battery Wagner in Apex

Kathy & Ben Potter - Apex, N C 

As out-of-town investors we, being experienced Realtors, were looking for a real estate agent that had a great reputation, fantastic knowledge of the area, and detailed market information that would help us make sound investment decisions. Ben & I are so thankful we found you. You never cease to exceed our expectations

 

338 Canvas

Bruce & Rosie Ferrero - Wake Forest, NC

Dear Mr. Dill,

I am writing in praise of our real estate agent Tracy Santrock. Our optimistic hope when we came to Raleigh from CT on June 2 was to choose a new home in just one week. Tracy helped us to refine our list, and pointed out other places for our review. When we did choose our home in Wake Forest, my wife was very pleased when Tracy negotiated a substantial allowance on a kitchen peninsula which was not included with the home. Tracy also helped us greatly by attending property inspections, and arranging for a remote closing. Not only did we find our home in one week, we closed and started moving in on June 28! We think that Tracy is a fine real estate agent, and we will happily recommend her to others.

The Wades

Julia & Jonathan Wade - Cary, NC

I met Tracy Santrock on message board concerning whether or not to buy a home right away in the Triangle when relocating from out of state. She had impressively answered some posters' questions concerning schools in the area. I shot her an email with a few questions that my husband and I had about being first time home buyers and our concerns with moving from out of state. Tracy answered our questions quickly and thoroughly. She then maintained close communication with us while we house hunted online. She was always willing to answer questions and point us in the right direction with neighborhoods. Our subsequent house hunting trip in the Triangle was very well organized and efficient and we had our first home with her very skilled help. We felt so comfortable with her through the entire process and couldn't be happier that we stumbled across her online. We will continue to use her services with our future home sales and purchases.

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Maggie & Vince Hall - Fuquay Varina, NC

Having bought and sold many homes in our lifetime we know how to spot a great Realtor. Vince & I started working with another Realtor and met Tracy by chance. Her knowledge of the area, communities, and strong communication skills immediately told us we had a match. We also liked the fact that Tracy had experience working with Active 55 Adults.

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Tami & Ken Brook - Holly Springs, NC

Tami and I worked with Tracy for the sell of our home. We recently relocated to Atlanta, Georgia and cannot say enough about how well Tracy marketed our property. We were quite impressed by the variety of marketing tools and mediums she utilized (such as the internet, Realtor.com, print ads, the MLS) to advertise our home, as well as by the creativity she demonstrated in doing so. More specifically, we were amazed the high quality of the virtual tour that she posted on the internet, and we were touched by the charming, almost poetic description of our home that she included on her web site.

While it has been said that houses sell themselves -- in truth, it is wonderful, dedicated REALTORS like you who sell houses. Thank you again for everything."

 

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Kelly & Joe Monahan - Raleigh

We have known Tracy for the past 17 years. During that time, Tracy has proven to be honest, detail oriented, and the most attentive agent we've had the pleasure to work with. When she says she will do something - she does it. The clients we have referred to Tracy tell me how happy and fortunate they feel to have worked with her. Many have gone on to refer their friends and family to her. Working with Tracy provides us with the confidence of knowing that our clients will be given excellent, professional service. When it comes to your next house purchase, choose Tracy Santrock.

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Heather & David Schnieder- Cary

"As you may recall, we met a few years ago during an open house. Our first impression of you was that you were honest, hard working and dedicated to your profession. That impression was a correct one! From the moment you agreed to serve as our real estate agent, you treated Heather and me with respect and courtesy. You were honest and professional. In the end, you found the right home for us on a number of levels. You got the right price -- the right contract terms.

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Holly & Bob Cockle-Cary

"I am writing to you to let you know how pleased I was with your services. You sold my house in record time and made the whole process easy. I have owned other houses, but your knowledge, skills and caring personality made this whole selling process so much easier.

I had several other REALTORS come over to explain to me the way they plan to sell my house. When you came over, you showed me that you had a plan and knowledge to carry that plan out. You were very realistic and didn't make me a list of promises. Your personality and honesty is what made me choose you. You guided me and made yourself available when I had questions.

By selling my home you helped make another one of my goals come true. Please share this letter with Fonville Morisey and other clients that you may have. All REALTORS are definitely not alike. Tracy, you have skills! Thank You.

P.S. I have given your number to some friends who are interested in selling.

 

Matthew Closing

Matthew Orlemanski-Cary

As expected from a first time home buyer, I was precautious in purchasing my home. I have lived in Cary for 12 years and always looked to find a house in the area, but wanted to make sure it was the right choice.  Working with Tracy made this big first step very easy and exciting!  She went above and beyond to help me understand the process and to make sure I was satisfied with my purchase. I can confidently say overall that the experience has been an excellent and memorable one for
me.

Anands-FInal    

Archna & Rakesh Anand- Cary (Amberly at Village Square)

    213 Callum Place

 Melinda Watson & John Malay -Cary - Carolina Preserve 

Thank you for the picnic bag and the Ace hardware gift card.  We used the bag at lunch on closing day for our first meal in our new house. 

We want you to know how much we appreciate all you did to assist us with purchasing a home in North Carolina.  You were timely and responsive to all of our many communications by phone and email.  The personalized website you ste up for us was extremely helpful in reviewing available properties. And the virtual tour you created of our potential new home was invaluable!  We wer also impressed with the professionalism of the people you referred us to in the purchase process. 

Thank you again.  We don't feel we would have been able to purchase a home from out-of-state(site unseen) without your relocation assistance. 

We hope you have a good summer and look forwaqrd to being down in Cary soon. 

Thanks for stopping by. If you have any questions regarding any past clients that have worked with me I'll be happy to answer them or let you speak to them directly.
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Sep. 5, 2008 - Henry's Gelato in Cary - A real treat

One of the things I love about where I live now is the proximity to great restaurants, shops, and other local businesses.

 

One of my favorite treats on Friday night after a movie or just for fun is located right here in Cary NC off of Cary Parkway in the Preston Walk shopping center called Henry's Gelato. I featured Henry's Gelato in my newsletter last month and had a chance to sit down for a quick visit and talk with Henry about his business. Henry traveled to over 50 countries sampling the different flavors of Gelato before perfecting his technique and purchasing his Gelato machinery in Florence, Italy. Henry's success has helped him expand his business to two new locations - the first in Southern Pines and the 2nd in North Raleigh opening later this year.

Every single gelato I've had from Henry's just melts in my mouth! Henry has over 85 flavors are available and up to 24 of your favorite flavors offered in at any one time. The gelato is handmade fresh every day with the purest ingredients. Henry also mentioned that gelato has 1/3 the calories of regular ice cream and custard. It sure doesn't taste like it though!

So, if you're out and about and want a real treat choose Henry's Gelato!

ImageChef.com - Custom comment codes for MySpace, Hi5, Friendster and more Henry has a saying inside his restaurant that says, "Mundi Gelato E Corri Nudo". Do you know what that means? If not you'll have to drop by Henry's and ask him yourself!

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Welcome to my blog on Raleigh-Cary and the Triangle area of NC Real Estate. Here you can read current information on the Triangle area including neighborhood profiles, school information, taxes, market conditions, and even find things to do in the Triangle.

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2429 Tiltonshire - New Listing in Apex
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