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For all of you that have recently sold their homes in Raleigh, how long was it on the market and did you use an agent or did you sell it "For Sale By Owner"??? Just curious... Thanks!!!
For all of you that have recently sold their homes in Raleigh, how long was it on the market and did you use an agent or did you sell it "For Sale By Owner"??? Just curious... Thanks!!!
I have not sold a home in Raleigh, but my neighbor two houses down put her's on the market two weeks ago. It went under contract in less than 6 days. She had it listed with a realtor. There are two other houses for sale in my neighborhood that have been on the market for over 60 days, but they need some work and are priced too high and the listings are now "stale".
This is in N. Raleigh in the $145K-$165K price range.
Actually, Skoldpadda, I am a definite exception to the scenario you described. My husband and I looked at both new homes and existing homes while house-hunting this year. We chose an existing home because we wanted mature landscaping & a larger lot. Our house was very well maintained and, frankly, the quality of the structure is better than a lot of new homes on the market (that's according to our inspector).
I live in a well-established, heavily treed neighborhood with homes that are about 20 years old. The average price for a home here is about $220K and - guess what - the houses sell! I've seen many homes here sell for at or very near their asking price within 2 weeks of hitting the market. It does happen.
I have to disagree on the older home thing. Many people buying older homes are buying them because they are priced well and because the lots are much larger, allowing the homebuyer to tear down and rebuild, remodel or expand. My parents live in a 30 year old neighborhood in west Raleigh and we've been ASTOUNDED at the prices they getting over there for 30 year old homes on 1/2 acre lots. Lots of tear downs and remodels and they stay on the market only for a few weeks, tops.
We also live in an older neighborhood in Cary and the houses here sell in days mainly because the lots are bigger and they are more convenient. We could have bought a brand new 200K house way out in Cary when we bought, but we CHOOSE to live in an older home, in an established neighborhood central to everything for a reason. We didn't LIKE the new homes with .2 acres, hollow doors, cheap siding, fiber glass showers, no brick foundations and 10 miles out from the center of town (not that they are all like that, but that's what we saw in the 200K range).
Luckily there is something for everyone here in the triangle. We have sold 2 older homes (25 years plus) in the last few years and have gotten way more out of them then we ever expected. There is plenty of money to be made in older homes in the area. Just look inside the beltline in Raleigh.
Yeah, you have to look at what you get for that same $200K or whatever. Don't ever forget the big rule of Real Estate (location, location, location).
I'm not in Raleigh, but over here in my Cary neighborhood, I've seen 2 homes go fairly quick, while several others are still on the market. The devil is always in the details. Some lots are better, some homes are priced better, some show better.
If your home is taking too long to sell, you might want to take a hard look at why. Maybe it is marketing (your Realtor or lack thereof, for instance). Or maybe it is your house. Yes, the market may be slowing down, but it hasn't grinded to a halt.
Clean, well-kept homes, on lots with few compromises, in great locations, with Sellers who present a good product to the market are in demand.
Goofy paint schemes, steep driveways, dirty busted up houses with damages don't do so well.
I was in Wakefield yesterday, and I always cringe when I drive past the backs of the $500,000 homes that are about 40 feet from the high-tension line standard.
Ugly, to say the least.
And...Yes. Location, location, location. Some things do NOT change.
Think about it, you are a buyer, you have a choice of a brand new, never lived in home with the latest appliances, amenities, etc for $200k or...
To get a brand new $200k home you're going to be buying in the suburbs or 27610. Even in the suburbs, Holly Springs, Youngsville, WF, Apex, etc. builders seem to be targetting $300k and up.
In most of the areas where people want to live the only thing in the $200k's will be townhomes or clusterhomes.
As already stated, some people want a yard larger than .11, trees, an established community, character. Drive through Long Lake and notice that Pulte has 4 or 5 floor plans and thats it. Then go a couple of miles over to Umstead Ridge, a completely different feel.
There are pros and cons to both sides, just depends on what is most imprtant to the buyer.
For what it is worth... our home in Cary was on the market for 49 days before we finally sold... Price point at $185K.
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