Current Real Estate of Affairs in the Triangle!
Posted 10-23-2008 at 10:11 PM by mjdelacruz
Hello everyone! This site oozes with energy and I would love to be a part of it!
I just came out of a seminar that is given once a year by the Raleigh Board of Realtors(RRAR), called Real Estate Trends. We had 3 speakers, Stacey Anfindsen, Ted Abernathy and John Ansbach. We got a lot of interesting information. Our current supply of home inventory is now 8 months compared to 4 months in 05 & 06 but still better than the natl average which is 11. We are still better than Chicago at 15 and Atlanta at 13 and South Florida, a whopping 28 months! The # of closings for the 3rd quarter or 05&06 went down by approx. 35%.
If you want to market your property right now, it is very critical to price it right because even at that market level, the average # of days to get your listing sold is 88 days.
You can view the slides that were shown to us, minus the explanation but you can pretty much figure it out by clicking on this link...
[url=http://www.trianglemls.com/rrar-events.html?PHPSESSID=33ce705f548f4cf871c393ffe76ca38a]RRAR RRAR Events[/url]
Click on the Real Estate Trends 2008 Slides
by both speakers. John Ansbach's topics can be seen on his website at [URL="http://www.johnansbach.com."]www.johnansbach.com.[/URL]
One thing that makes me feel good about it as a Realtor and as a real estate investor is the continued high inbound traffic into the Triangle as shown by the survey from the United Van Lines. There has also been a consistent upward trend in the average sales price of our homes which is now at $269,600, a 17% increase from the 2005 levels.
Most popular price points are from $200-$300K and the areas where most people are looking is North Raleigh, Cary, Morrisville & Wake Forest areas.
Now truly is the best time to be a buyer. Lots of unbelievable deals out there, especially in the Brier Creek Subd.
I will be attending the House Finance Agency seminar tomorrow at the board to find out what kind of loan programs my buyers can avail nowadays.
Will keep you posted.
By the way, I do residential sales and property management in the Brier Creek area and within 20 miles from this location and deal mostly with homes built from 1997 and up.
My office is inside the Brier Creek Commons between Greek Fiesta and Rocky Mtn Chocolate Factory.
I just came out of a seminar that is given once a year by the Raleigh Board of Realtors(RRAR), called Real Estate Trends. We had 3 speakers, Stacey Anfindsen, Ted Abernathy and John Ansbach. We got a lot of interesting information. Our current supply of home inventory is now 8 months compared to 4 months in 05 & 06 but still better than the natl average which is 11. We are still better than Chicago at 15 and Atlanta at 13 and South Florida, a whopping 28 months! The # of closings for the 3rd quarter or 05&06 went down by approx. 35%.
If you want to market your property right now, it is very critical to price it right because even at that market level, the average # of days to get your listing sold is 88 days.
You can view the slides that were shown to us, minus the explanation but you can pretty much figure it out by clicking on this link...
[url=http://www.trianglemls.com/rrar-events.html?PHPSESSID=33ce705f548f4cf871c393ffe76ca38a]RRAR RRAR Events[/url]
Click on the Real Estate Trends 2008 Slides
by both speakers. John Ansbach's topics can be seen on his website at [URL="http://www.johnansbach.com."]www.johnansbach.com.[/URL]
One thing that makes me feel good about it as a Realtor and as a real estate investor is the continued high inbound traffic into the Triangle as shown by the survey from the United Van Lines. There has also been a consistent upward trend in the average sales price of our homes which is now at $269,600, a 17% increase from the 2005 levels.
Most popular price points are from $200-$300K and the areas where most people are looking is North Raleigh, Cary, Morrisville & Wake Forest areas.
Now truly is the best time to be a buyer. Lots of unbelievable deals out there, especially in the Brier Creek Subd.
I will be attending the House Finance Agency seminar tomorrow at the board to find out what kind of loan programs my buyers can avail nowadays.
Will keep you posted.
By the way, I do residential sales and property management in the Brier Creek area and within 20 miles from this location and deal mostly with homes built from 1997 and up.
My office is inside the Brier Creek Commons between Greek Fiesta and Rocky Mtn Chocolate Factory.
