At My NC Homes, we consistently blog about the growth in the Reseach Triangle Park. It is not only an incredible place to live now, but it has an incredibly bright future. In a recent study conducted by UNC's Kenan Institute, the Research Triangle region's economy has surged to become the third fastest-growing in the nation, outpacing its No. 4 ranking in 2022. We are outpacing Seattle and Austin, to name a few. This study defies expectations having outpaced an initial forecast of 1.6% growth this year, due to the boost in activity in the tech sector, education, and healthcare. 


 Dr. Gerald Cohen, Chief Economist at Kenan, attributes this performance to several factors, propelling the Triangle among the nation's largest metros, and we would like…

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Storybook Living is coming to Chatham County. The Disney Company is developing a new home community called Asteria and we are excited to share this groundbreaking community that will is being developed in Pittsboro, along the Haw River between highways 64 and 501. Asteria community will be anchored by "the magic of Walt Disney Imagineering and presented with Disney service that puts you at the center of everything."


 

Asteria will be located on 1500 acres with over 4,000 residential units including single and multifamily homes, in addition to a portion devoted exclusively to 55+ age restricted living. Specific sales details announcements regarding size of homes and their interior amenities have not been announced, but we do know that…

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Wondering what the Inflation Reduction Act is and how it can benefit, you as a homeowner? This might be one of the least aptly named opportunities to save money while increasing the energy efficiency of your home. Enacted last year, this key piece of legislation looks to combat climate change by promoting eco-friendly practices and encouraging clean energy initiatives. The trick is it was initially enacted as an incentive to businesses but has benefits for individuals who adopt green practices. I want to point out that these incentives and credits will be available for at least a few years if not longer; so there is no reason to worry about getting them all done within the next year. Homeowners can plan on updating/upgrading over a 3-5 year schedule…

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Where affordability concerns dominate headlines, potential home sellers, especially baby boomers, find themselves at a crossroads. Conventional wisdom suggests that waiting for mortgage rates to drop or prices to decrease is the prudent approach, but if you are downsizing, you stand to gain more than the conventional buyer who is borrowing. Let's explore some of the ways that baby boomers can win by selling now.

Mortgage Rates

Mortgage rates are hovering between 7-8%, which effectively creates a buyer's market for home buyers, who are not financing. A significant portion of potential buyers have been sidelined, providing a unique opportunity for those willing to navigate the challenges. According to a recent report by NAR, repeat buyers & people…

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The Research Triangle Park region comes alive with holiday spirit in the winter and celebrations carry through well beyond New Years in the Western Calendar.  From the vibrant African American Cultural Celebration to the cosmic exploration of Astronomy Days, and the magic of holiday top hits with the North Carolina Symphony, there's a winter event for every interest. In the interest of your interests, we have broken these events into event types with links and specific events where the calendar is less densely packed. We hope you enjoy the Triangle to the fullest this holiday season!


Tree Lighting Ceremonies 

Kicking off the holiday festivities in RTP are a multitude of annual Tree Lighting Ceremonies. Gather to witness the illumination of one…

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Primary motivations for buying or selling a home, are infrequently related to mortgage rates, however, so much news reporting on rates can cloud decision-making around moving. If you're contemplating putting your house on the market in the Research Triangle Park area, it's likely due to a change unrelated to the FED. Mortgage rates are a factor that plays a pivotal role in your decision-making process, but they should not overshadow the primary reasons that prompted you to consider a move in the first place.

We cannot ignore that higher mortgage rates impact affordability, leading some homeowners to postpone selling, because they are nervous about securing a new home and borrowing at a higher rate. But there are other lifestyle changes and needs…

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The "American Dream" foundation is often, homeownership. It signifies stability, independence, and attainment of a place of ones own. However, for Generation Z, born between 1997 and 2012, there are significant barriers to homeownership in the present market and making this dream a reality can be quite challenging because of higher mortgage rates and higher home prices than previous generations. This should not deter a whole generation from homebuying, because even outside of the "dream" it is a great way to stabilize your finances and build wealth and owning your first home can be attainable with the right strategic planning and resourcefulness.

Down Payment Assistance Programs

While home prices are not on the meteoric rise that they had been…

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There have been some moments this year, that Realtors have not been proud to show. Barbicore is one that is truly an acquired taste, and as we begin to close out 2023, we look forward to new trends that make our jobs, just a bit easier. Here is a pop quiz style list compiled from designer insights and consumer feedback, and what trends will last into 2024 and what trends will stay behind in 2023.

1. All-white Bathrooms, In or out?

Out! According to a survey by Fixr.com, over a quarter of interior designers are ready to bid farewell to all-white bathrooms. A shift is being made towards more vibrant shower tiles and jewel tones.

 

 

2. Patios to the Max, In or out?

In! With contingencies. Homeowners have been maximizing their outdoor…

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If you are putting off moving because you think that home prices will go down, you may want to rethink this strategy. There are a number of factors that have all experts predicting home prices continuing to rise. While the market may cool, and prices will likely not be going up by the soaring amounts that we saw in 2020 and 2021, {locally upwards of 20%}, make no mistake they are continuing to rise. Let's discuss the factors that come into play, latest data, and what strategies we think will be winners in the last quarter of 2023, and into 2024.

But what if prices drop?

If you put off moving because you're worried home prices might drop, you may want to rethink this strategy. Despite a massive increase in prices and the market correction in…

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The Research Triangle Park offers incredible events year-round, from the arts to dining, but it really has some special events during the fall. We have a full events calendar to appreciate everything from apple picking to wine festivals. Here are some of our favorite ways to experience the Fall Events in the Research Triangle Park.

Good Hope Farm Harvest Festival, Cary, NC

Many new residents to Cary and in the Triangle area, are unaware of its rich agricultural roots. Good Hope Farm is a staple and offers programming year-round, but is especially vibrant during fall. Enjoy live music, local food, craft vendors, environmental education, kids activities and more at Harvest Fest. This is a free outdoor event the whole family can enjoy. There are…

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