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Raleigh, Durham, Chapel Hill, Cary The Triangle Area
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Old 04-11-2012, 04:12 PM
 
Location: Raleigh, NC
10,323 posts, read 18,691,002 times
Reputation: 11064

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Quote:
Originally Posted by Lucy Honeychurch View Post
Sorry to vent, but I was not expecting this kind of market here.
What were you expecting? This was the fastest-growing metro area in the US between 2000-2010; naturally homes would be selling quickly.
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Old 04-11-2012, 04:12 PM
 
Location: Cary, NC
31,650 posts, read 55,416,037 times
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Quote:
Originally Posted by Lucy Honeychurch View Post
Where I am coming from, the real estate market is pretty much dead. While I expected the Triangle to have a stronger market, I didn't think it would be this STRONG.

I have seen houses with serious structural problems nonetheless go under contract days after we've viewed them. MikeJaquish is right - small supply, high demand = what I'm experiencing. It still astounds me to see some houses that are quite frankly garbage in not so great areas go within the first ten days of listing and at almost listing price.

Thanks.
Listing price is really not a compelling factor, not as much as market value based on comps.

People who truly want to sell are getting smarter and pulling the fat out of their prices, and those homes tend to sell.
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Old 04-11-2012, 05:35 PM
 
43 posts, read 69,285 times
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Quote:
Originally Posted by Francois View Post
What were you expecting? This was the fastest-growing metro area in the US between 2000-2010; naturally homes would be selling quickly.
Francois, I was a closing attorney during the boom days in what was then a boom area. I was indeed expecting a faster moving market here.

However, I cannot believe that I feel like I am in the real estate version of Filene's Basement's Running of the Brides.

A little levity, folks.
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Old 04-11-2012, 05:53 PM
 
Location: Raleigh, NC
11,806 posts, read 27,477,826 times
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Everyday, I get about 5 emails from agents within my company, asking for a particular listing that they can't find in MLS. There is less inventory. If your home is in great condition, great location and priced right, it will sell.

Vicki
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Old 04-11-2012, 06:37 PM
 
Location: In between 440 and 540
226 posts, read 521,075 times
Reputation: 232
[quote=matted;23803776]Up here in Creedmoor it has been frustrating and slow. We're only a 25 minute drive to RTP but the market is dead.

My house has been on the market 3+ months and we've had one showing (that specifically wanted a first floor master my house doesn't have). Up here housing prices are running under $90/sq ft. I personally live in 2123 sq. ft listed for $189K on a nicely landscaped 2/3 acre lot. An open house yielded zero traffic. Even a realtor open house was a flop. I blame my real estate agent for some of this, but the market is slow.

Other than schools, I really like south granville county... A few things could be better, but for cost conscious buyers or retirees looking to downsize I'd think these would seem like bargains.

On the flip side, going to open houses in North Raleigh they are packed. Several homes of interest to me have come and gone. And yes, prices seem to be firming up.

I guess location, location, location?
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Old 04-11-2012, 09:54 PM
 
33 posts, read 117,761 times
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We have been looking at houses ($500K+) for months now. Most of the houses on the market at this price range are either overpriced or dated and thus remain on the market for 100+ days. Patient buyers like me are waiting for better (or better-priced) houses to come on the market. The trouble is that when such houses get listed, they receive multiple offers and are off the market in a week or so. We lost two houses this way.
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Old 04-12-2012, 12:16 AM
 
982 posts, read 2,147,207 times
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I don't get why people here want everything to be like "brand new" in a home that's like 30 or 40 or more years old. Up north, people aren't bothered with that kind of thing.
If you like the location, that's the most important thing, isn't it? And once a home is vacant, it's easy to update. Get a better price for the house and fix it up to your liking.
We refreshed our last house with wood floors, paint, tile, granite, etc., and yet people would walk through and say the granite was the "wrong color" or they liked "lighter wood floors." So in their mind, they had to change everything.
Good grief. Just buy a house and do it yourself. That's what we're doing next time around.
best,
Toodie
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Old 04-12-2012, 06:36 AM
 
5,463 posts, read 5,787,780 times
Reputation: 1803
Quote:
Originally Posted by MikeJaquish View Post
In addition, it is interesting to execute an MLS search and pull up 100+ homes, and then see a cluster of homes at up to 50 Days On Market, and another cluster at 200+ DOM, and scattered results between those two.
Priced to sell vs. priced like it's still 2008?
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Old 04-12-2012, 07:45 AM
 
9,198 posts, read 21,186,369 times
Reputation: 8516
Quote:
Originally Posted by toodie View Post
I don't get why people here want everything to be like "brand new" in a home that's like 30 or 40 or more years old. Up north, people aren't bothered with that kind of thing. If you like the location, that's the most important thing, isn't it? And once a home is vacant, it's easy to update. Get a better price for the house and fix it up to your liking.
Oh, lord, an "up north we don't do it that way" comment!

People are "bothered with that kind of thing" here, I guess, because they can be. New/refreshed homes are pleantiful and attractively priced.

But, the bottom line really seems to be this: People buy what they want to buy based on their individual values and preferences. That's doing it to their liking.
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Old 04-12-2012, 08:58 AM
 
Location: Moving Back To Cary
1,972 posts, read 2,537,097 times
Reputation: 3065
Quote:
Originally Posted by toodie View Post
I don't get why people here want everything to be like "brand new" in a home that's like 30 or 40 or more years old. Up north, people aren't bothered with that kind of thing. If you like the location, that's the most important thing, isn't it? And once a home is vacant, it's easy to update. Get a better price for the house and fix it up to your liking. Good grief. Just buy a house and do it yourself.
Too many of the older homes are OVERPRICED. Why spend 400-500k + for an older home and then have to put another 40-100k into updating it when you can buy a brand new home which is still under warranty, etc. for the same price?!
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