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Old 02-10-2011, 09:42 AM
 
Location: New York City
633 posts, read 1,100,663 times
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Now that we have a buyer for our house we will be coming down there this month to find the location where we want to live. I have been told by my NC realtor as well as reading on another board, that homes tend to move fast and a home we like may be sold very quickly. I find this hard to believe because here it is SOOO hard to sell, it is truly a buyers market. I would have thought that in Wake, with so much land, sprawl and competition that it would be even HARDER to sell.....I really would appreciate some insight or feedback from those in the area! Thanks!
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Old 02-10-2011, 09:46 AM
 
Location: My House
34,839 posts, read 33,381,458 times
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Quote:
Originally Posted by SINY2NC View Post
Now that we have a buyer for our house we will be coming down there this month to find the location where we want to live. I have been told by my NC realtor as well as reading on another board, that homes tend to move fast and a home we like may be sold very quickly. I find this hard to believe because here it is SOOO hard to sell, it is truly a buyers market. I would have thought that in Wake, with so much land, sprawl and competition that it would be even HARDER to sell.....I really would appreciate some insight or feedback from those in the area! Thanks!

I think a lot of that depends on the location and your price range. If you're buying above conforming (417k), it may be far easier to find a house.

If you're buying below that, houses in desirable locations do get snapped up faster, especially the new construction IN a great location, or the resales with upgrades that look barely lived in. I would expect that the lower down you go with regard to price, the more homes, but the more people who want those homes. Clear as mud?

Good luck in your search.
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Old 02-10-2011, 09:49 AM
 
Location: Raleigh, NC
12,470 posts, read 30,542,894 times
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Define "fast". Homes that are in great condition with no negatives and priced right will sell faster than those that have power lines in their backyard and are overpriced!

Those homes that used to take about 2 months to sell now seem to be taking 4 to 6 months to sell, in the more desirable areas.

I am seeing more activity in my office. I wonder if the interest rate inching up is the reason or is it that we are getting closer to spring? Warm days tend to bring buyers out.

We are still very much a buyer's market and have plenty of inventory but if a home is really a good "deal", it will sell faster than one that isn't. I wouldn't feel pressured though as there is plenty of inventory and more homes will be coming on the market as we get closer to spring.

Vicki
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Old 02-10-2011, 09:51 AM
 
Location: My House
34,839 posts, read 33,381,458 times
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Quote:
Originally Posted by VickiR View Post
Define "fast". Homes that are in great condition with no negatives and priced right will sell faster than those that have power lines in their backyard and are overpriced!

Those homes that used to take about 2 months to sell now seem to be taking 4 to 6 months to sell, in the more desirable areas.

I am seeing more activity in my office. I wonder if the interest rate inching up is the reason or is it that we are getting closer to spring? Warm days tend to bring buyers out.

We are still very much a buyer's market and have plenty of inventory but if a home is really a good "deal", it will sell faster than one that isn't. I wouldn't feel pressured though as there is plenty of inventory and more homes will be coming on the market as we get closer to spring.

Vicki

Vicki?

When in spring do most people put houses up for sale?

I've never been clear on what the advice to sellers is on that point.

I do think the rise in interest rates is causing more people who were waiting to go ahead and pull the trigger.

Kind of like the drop in rates caused people to do that right before/around the holidays.
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Old 02-10-2011, 11:18 AM
 
Location: Cary
271 posts, read 667,143 times
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When homes are priced correctly they move very fast down here. All the inventory is due to over pricing and sellers not coming to grip to what they property is really worth.
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Old 02-10-2011, 11:58 AM
 
3,743 posts, read 12,566,655 times
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Lots of houses, but few great homes imo. Finding the best mix of location, size, floorplan, age, accessories, and price makes for a specialized list regardless of the general volume of homes for sale imo.

The house I bought was on the market for a year and didn't sell for two main reasons - overpriced and under prepped, but is a real gem (imo, I did buy it afterall). A house two doors down was priced appropriately and prepped for sale and sold in three days.
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Old 02-10-2011, 12:26 PM
 
Location: My House
34,839 posts, read 33,381,458 times
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Quote:
Originally Posted by NYCinNC View Post
When homes are priced correctly they move very fast down here. All the inventory is due to over pricing and sellers not coming to grip to what they property is really worth.

Exactly. I realize some folks are desperately hoping they can sell and not lose their shirts in the process, but really? Do you save that much if you spend 2 years paying a mortgage on a house here in the Triangle while you're renting in the state where you had to relocate? I'd be adding up the cost of keeping it vs the cost of digging deep to get out of a house if I HAD to sell one around here and didn't have much equity.
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Old 02-10-2011, 12:44 PM
 
Location: Raleigh, NC
10,639 posts, read 21,334,853 times
Reputation: 11981
Quote:
Originally Posted by SINY2NC View Post
Now that we have a buyer for our house we will be coming down there this month to find the location where we want to live. I have been told by my NC realtor as well as reading on another board, that homes tend to move fast and a home we like may be sold very quickly. I find this hard to believe because here it is SOOO hard to sell, it is truly a buyers market. I would have thought that in Wake, with so much land, sprawl and competition that it would be even HARDER to sell.....I really would appreciate some insight or feedback from those in the area! Thanks!
Places where everyone is trying to leave (such as where you are) will be hard to sell, of course, with supply exceeding demand. Places where everyone is trying to move TO (such as here) will be the opposite; I don't know why you thought such a high-demand area would be a buyers' market. New construction has all but stopped in the last 2-3 years, so there is not much new product--yet still, many clamoring to move here, so it is pretty safe to say it is a seller's market in this area if the price is right. OTOH, two houses on my street have been sitting there for over a year. One is way overpriced, and the other was in foreclosure and actually went through public auction, which I think makes it look "tainted" even though the house is fine. I just saw another For Sale sign on my street this AM. I do think people living here have heard so much hype about everyone trying to move here that they set their prices too high, a lot of the time. Certainly that is the case with my neighbors.
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Old 02-10-2011, 02:12 PM
 
Location: Raleigh, NC
12,470 posts, read 30,542,894 times
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Quote:
Originally Posted by meh_whatever View Post
Vicki?

When in spring do most people put houses up for sale?

I've never been clear on what the advice to sellers is on that point.

I do think the rise in interest rates is causing more people who were waiting to go ahead and pull the trigger.

Kind of like the drop in rates caused people to do that right before/around the holidays.
Lots of people put their house on the market in March, April and May, hoping it will sell and they can move once the kids are out of school. That gives them the summer to move to their new place without disrupting the kids' school schedules.

Sometimes it is difficult to time. I've had people put their house on the market in Feb. hoping not to move until May and the house sells faster than usual. I've had the opposite happen, as well. This market is harder to predict. In the past, it was easier to estimate how fast a property would sell.

I don't think we are even close to a seller's market, but one can wish!!!

I had a house sell in 3 days but it was because it had NO negatives, sellers had added on lots of upgrades for the n'hood and had maintained the home beautifully. They had the exterior AND the interior painted right before we put it on the market AND we listed $5,000 less than other similar homes.

Vicki

Vicki
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