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Old 07-11-2008, 09:08 PM
 
Location: Lowest Taxed/Highest Q.O.L. CARY, NC
551 posts, read 513,568 times
Reputation: 141

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This site shows many great pieces of information about the Wake County Real Estate market. The numbers show that even during a slow market, Wake County homes rose an average of 4.67% in May 2008 over May 2007. This shows how strong of an appeal Wake County has and how even in times of national trouble, Wake County real estate remains a great investment and the place to be.

http://www.trianglemls.com/tmls-stat...amics-wake.pdf
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Old 07-12-2008, 01:41 AM
 
Location: Research Triangle, NC
1,258 posts, read 1,484,869 times
Reputation: 808
Interesting. A few of the houses that I have bookmarked actually dropped in price a few days ago. :::now praying:::

Last edited by papilgee4evaeva; 07-12-2008 at 01:42 AM.. Reason: Accidental smiley
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Old 07-12-2008, 02:44 AM
 
305 posts, read 672,321 times
Reputation: 281
Quote:
Originally Posted by In & Out View Post
Wake County Housing prices Rise A Whopping 4.67% During Slowdown!!!!!!
That's one of my favorites. Tell me another story....
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Old 07-12-2008, 05:12 AM
 
5,572 posts, read 16,480,603 times
Reputation: 4429
Quote:
Originally Posted by In & Out View Post
This site shows many great pieces of information about the Wake County Real Estate market. The numbers show that even during a slow market, Wake County homes rose an average of 4.67% in May 2008 over May 2007. This shows how strong of an appeal Wake County has and how even in times of national trouble, Wake County real estate remains a great investment and the place to be.

http://www.trianglemls.com/tmls-stat...amics-wake.pdf
When looking at statistics, always consider the source of the data
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Old 07-12-2008, 06:44 AM
 
Location: Virginia (again)
2,697 posts, read 8,212,693 times
Reputation: 1556
Data are dangerous in the hands of unskilled users. I'd recommend an elementary statistics course at a local community college.
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Old 07-12-2008, 07:44 AM
 
5,460 posts, read 6,330,185 times
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This data also shows a terrific 9% increase in prices in a single month!!! Your home is now worth 10% more than it was last month!!!! Buy now or be priced out forever!!!!

Or, as sls mentioned, learn that these numbers jump around quite a bit and are unreliable indicators of changes in home value since they don't take into account the ever-changing mix of homes that are sold each month.
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Old 07-12-2008, 07:53 AM
 
Location: Wake Forest
2,835 posts, read 6,927,711 times
Reputation: 2050
All the charts can be netted down to the following:

1. If you have to sell get as much as you can!
2. If you don't have to sell, wait for a better selling market!
3. Your home is only worth what a 'buyer' is willing to pay for it, no more no less!
4. If your buying, pay what the house is worth to 'YOU'; not anyone else's estimate!
5. Make sure you know what is a 'want' versus a 'need'. Pay for the needs only!
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Old 07-12-2008, 08:25 AM
 
Location: Lowest Taxed/Highest Q.O.L. CARY, NC
551 posts, read 513,568 times
Reputation: 141
Quote:
Originally Posted by KCfromNC View Post
This data also shows a terrific 9% increase in prices in a single month!!! Your home is now worth 10% more than it was last month!!!! Buy now or be priced out forever!!!!

Of course, anybody that knows anything about numbers and real estate knows you do not go by monthly numbers as they can be affected by the type of homes being sold. We go by yearly numbers to get the average, which show how strong the Wake County market is, even in a slow period. Glad I own and glad I own in Wake County, in particular Cary.

Last edited by In & Out; 07-12-2008 at 08:37 AM..
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Old 07-12-2008, 10:58 AM
 
3,124 posts, read 7,054,483 times
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Quote:
Originally Posted by dansdrive View Post
3. Your home is only worth what a 'buyer' is willing to pay for it, no more no less!
4. If your buying, pay what the house is worth to 'YOU'; not anyone else's estimate!
5. Make sure you know what is a 'want' versus a 'need'. Pay for the needs only!
Unless you are paying cash, a home is worth no more than what the mortgage lender's appraiser says it is worth.

And what is wrong with wants? People should understand wants versus needs, but there is nothing wrong with paying for something that is of value to you.
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Old 07-12-2008, 11:32 AM
 
Location: Lowest Taxed/Highest Q.O.L. CARY, NC
551 posts, read 513,568 times
Reputation: 141
Quote:
Originally Posted by Dire Wolf View Post
And what is wrong with wants? People should understand wants versus needs, but there is nothing wrong with paying for something that is of value to you.

Well said. I don't know whay so many people are hung up on only buying the absolute minimum to meet ones needs. If you have the means to buy want you would like to have, go for it. Good thing I am around to keep the economy moving.
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