Durham, Chapel Hill, Cary real estate market update - Spring 2017

Wow, what happened to spring? What should we expect for the summer?

It seems like spring just started but it's already over and summer is here. The kids are finishing up EOG's and they will be complaining they are bored before we know it. So what happened in the market this spring in the Triangle and what should we expect for the summer?

As we predicted in our Let's get ready for the Spring Market article, buyers faced a challenge here in the Triangle. Prices continued to rise as inventory dropped to historic lows. Most buyers in the Triangle faced multiple offers and selling prices well above asking prices. However, this seems to be the case with all of our competition as prices continue to rise across the east coast.

Below are the updated…

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It will only be a few short weeks before the temperatures start to rise, the Forsythia and Jasmine will be showing off their bright yellow buds, then the Azalea's will start to bloom. So, let's get ready for the Spring Market.  

You must be prepared because right now inventory is still very low and prices continue to clime. We are often asked why prices seem so high in Durham as of late and it is true that they have risen quite a bit, Zillow is reporting a 7.7% increase for 2016. Durham is a great place to live, with a good job market, great research and medical facilities, outstanding restaurants, arts, and recreation so it is no wonder prices are high right? However, if you take a deeper look, prices really aren't that high...

If you compare…

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December 2016 real estate market statistics

As we come near to the close of 2016 it's time to review what the market has done in the Durham/Chapel Hill Area and update the numbers from our Spring Market Report. The Triangle has been on fire for the last several years and 2016 was no exception.

We continue to see low inventory and prices have continued to rise. One might have thought that the elections and the following uptick in interest rates might have slowed things down but this hasn't been the case. Here’s a closer look at some numbers broken down geographically.

Durham County

Focusing on single-family homes, We see total sales volume up 6% and the average priced sale up 5.6% to $245,862 when comparing 2016 to 2015. In addition we find the average days on market is down 17% from…

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About Triangle Area Food Trucks

If you've been living in a cave for the last 30 years, the phrase “food truck” might conjure up images of a sandwich truck at a construction site or a truck serving greasy fast food on a college campus. Once called roach coaches, food trucks have grown up. Today's food truck are nothing like their ancestors.

There are about 150 food trucks in the Triangle area, offering a huge variety of foods. Most trucks specialize in certain foods just like restaurants do. What do the food trucks offer? Several types of BBQ, hot dogs, hamburgers, gourmet grilled cheese, cheesesteaks, gourmet sliders, deli meats, pizza, Maine lobster, tacos, sandwiches, dumplings, meatballs, and more. There are also trucks specializing in sweets such as cupcakes and cookies,…

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About Durham Bulls Athletic Park - History

In the Triangle area, the saying "Take me out to the ball game" refers to The Durham Bulls Athletic Park (DBAP). The DBAP is home to the Durham Bulls, the AAA affiliate of the Tampa Bay Rays Baseball League. It is also home to the Duke Blue Devils baseball team. The 10,000-seat park opened in 1995, just a mile down the street from its former ballpark.

The Storied Past Of DBAP

Prior to 1995, the Bulls played at the old Durham Athletic Park. The old park still exists, hosting concerts, beer festivals, summer leagues, farmers’ markets, and other special events. It also hosts the North Carolina Central University’s men’s baseball team.

Located in downtown Durham, the DBAP is a brick structure that is reminiscent of old-time ball parks in its look…

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About Maple View Farms in Hillsborough, NC

Maple View Farm is a dairy farm in Hillsborough, North Carolina. The farm originated in Maine in the 1800’s and moved to North Carolina in 1963. About 400 acres are devoted to farming and dairy operations. The farm raises its own Holstein dairy cows and sells some as breeding stock. The farm has developed its own brand of Holstein called Maview. Any registered Holstein in the world with that brand was bred on Maple View Farm.

The farm also grows barley and corn which it uses as feed for the herd in addition to the farm grass. The grains increase the protein content of the milk. There are four holding ponds on the farm to store water for irrigation. These holding ponds have enabled the farm to continue operations in times of drought. The farm also…

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 issues with working with a dual agent

Before we talk about dual agency, let’s look at the conventional relationship between an agent and a client. The client can be either a seller or a buyer.

Hiring A Realtor To Sell Your Home

A home seller will hire a broker to handle the home sale. The broker becomes the seller’s agent. The seller expects the Realtor to do everything in the Realtor’s power to get the seller the best deal on the sale. In the course of the transaction, the seller will probably tell the Realtor certain details that may affect how the realtor handles the sale. For example, the seller may need to move immediately and be willing to take a lower price if necessary to sell the house. Or the seller may be in no hurry to sell and will not accept a low price under any…

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Durham & Chapel Hill real estate market update - Spring 2016So here we are again at the beginning of another spring market in the Durham/Chapel Hill area. The azalea's are in bloom, despite abnormally low temperatures, and things are looking beautiful. It's a great time to go out and start your home search, or is it?

Over the last few years the real estate market in our area has gotten tougher and tougher for buyers in Durham and Chapel Hill. We are seeing very little inventory and prices are going up up up. For example, in Orange County, year over year, the median sales price is up 34.8% and inventory is sitting at a 4 month supply, where 6 months is considered a balanced market. Durham county is up 17.1 % and inventory is sitting at a staggering low of 1.9 months of supply. So some buyers are asking…

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Why get pre-approved for a mortgage before looking at homes“Why do I need to get Pre-Approved?” is a question we get asked almost every day at My NC Homes when we speak with perspective home buyers. Some tell us "I went online and know I’m qualified". While that might be the case, it's important to understand the differences between Pre-Qualification and Pre-Approval when it comes to the mortgage process.

The Differences Between Pre-Qualification & Pre-Approval

Two often confused terms in the home buying process are a mortgage pre-qualification and a mortgage pre-approval. Even some loan officers and real estate agents will use the terms incorrectly or may not fully understand the difference between the two. If you are looking to buy a home in the Durham/Chapel Hill/Cary area it is critical that you get…

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