What's Ahead For Home Prices?

This fall has been a rocky one for financing. With the federal reserve continuing to raise interest rates, borrowers are facing more higher financing costs than in the past several years. We understand that there is a lot of uncertainty in today's market and wanted to share the latest perspectives from economists. Much of our content regarding market fluctuations discusses historic trends in housing and economics and we want to reinforce that when other sectors of the market are more volatile, it does not necessarily mean that housing suffers as well. Let's look at what the market is doing and what the experts are forecasting.

What goes up must come down

Interestingly and not necessarily very reassuring are…

67 Views, 0 Comments

Inside HOA Fees

Are you considering purchasing a home with a homeowners association? Wondering what the fees cover and how often they are assessed? Some buyers avoid purchasing properties with homeowners associations. Whether the fees seem steep or they worry that the association will have too much control over their property, there are pros and cons. Some buyers appreciate knowing that the HOA will insure the community is well kept, some enjoy lawn maintenance and the fact that neighbors have restrictions and duties, which can help retain the value of the total neighborhood. There may be security advantages if the community is gated or patrolled. We wanted to offer an inside look into HOA fees for our buyers. If you are looking to purchase a home…

131 Views, 0 Comments

We go over many of our buyer concerns on our blog and usually, one of the most common ones is, "Is right now a good time to buy", accompanied by, "Is right now a good time to borrow?" Depending on what your finances look like and how much you have saved for a down payment, it is almost always a good time to invest in real estate. Even with limited inventory, inflation, and increasing interest rates. Let's talk about why this is the case and why you should not necessarily delay home ownership plans in the face of inflation.

First, housing is an asset that over time grows in value so if you have cash and would like someplace to put it so it does not lose value, housing is a great option. Ali Wolf, economist at Zonda posits "If you have cash and are…

172 Views, 0 Comments

We have been experiencing constricted inventory for nearly three years here in the Research Triangle area and buyers are becoming increasingly anxious as mortgage rate increases are on their minds. Doing everything they can to win multiple offer situations from making sight unseen offers, waiving appraisal contingencies, making their offer "As-Is", and granting seller possessions after closing for free. Simply being truly "Pre-Approved" or offering cash is standard practice and expected. However none of these accomplish much if you are outbid. The best strategic advice for buyers in looking in the Chapel Hill, Durham and Raleigh NC area, is to shop below budget. Here are the reasons why.

Bidding Up

It can be very deflating news to read that you…

220 Views, 0 Comments

There is no doubt that the lifestyle on The Triangle is hard to beat. We are regularly ranked in top places to raise a family and achieve work life balance. We have great restaurants, and much more, however certain areas are not for everyone. My NC Homes have been Realtors in Chapel Hill for many years and the three of us have more than 60 years of collective experience, we have a knack for knowing what area suits what buyers. To help, we have compiled this list in particular for Chapel Hill. If you are looking for Chapel Hill Real Estate, please click here! If you are looking for Cary, Pittsboro, or Durham, we are also experts in this area, so click on the links.

Food

Bon Apetit Magazine ranked Chapel Hill as one of the foodiest small towns in…

376 Views, 0 Comments

 

May Day May Day!!!! The inspection report is back and it lists dozens and dozens of "defects", what can I do!! Receiving the inspection report can feel like a personal affront. My NC Homes has talked hundreds of buyers and sellers off a ledge and helped them understand what the inspection reports are saying and their implications. Below we dive into what they include and do not include and when panic, is warranted. Remember, homeowners who are considering selling in the future can reach out to My NC Homes for a referral for inspection companies prior to listing.

What is a home inspection report?

A home inspection report is supposed to be an objective document provided after an evaluation by a qualified home inspector. It should include…

410 Views, 0 Comments

There is non stop press coverage questions whether there is a bubble in the real estate market, discussing the severe lack of inventory, timber shortages, labor shortages, and more, but how does all of that really affect affordability? Can you guess the last time homes were this affordable in The Triangle? Are you under the impression that homes are overpriced right now? Homes are more affordable now than they have been since 2016. Let's dive into some statistics on the affordability of home buying, RIGHT NOW in The Triangle.

Home prices are appreciating and prices have been steadily, arguably rapidly; rising in nearly all domestic markets. When we hear prices are going up, we immediately think houses are becoming unaffordable and as Realtors, we…

528 Views, 0 Comments

The emergence of a global pandemic and the effects of a warming climate have resulted in a reprioritization for buyers in The Triangle real estate market, and a buyer migration nationally. As real estate progressive professionals in the tech-driven Research Triangle, we already witnessed some shifts from buyers wanting much more in when it comes to work from home options. In addition more buyers are looking for more multi-generational home options, sustainable living options, and locations where climate change is factored in. We heard from buyers telling us they were relocating from the west coast specifically to avoid ever worsening drought and water restrictions as well as fires.

Below is a list of insights for sellers to make homes more…

355 Views, 0 Comments


Insurance - Homeowners and Beyond

Typically Hurricane season peaks in late August through October and with the news of fires in the West as well as flooding events nationwide, we thought it timely and important to understand where you are and are not protected by home owners insurance insurance. Here is a guide to insurance, beyond basic homeowners. If you are looking to purchase a home on The Triangle, please reach out to us. Not only can we make the home buying (or selling) process easier for you; but we can refer you to the best insurance providers for your needs, as a landlord, or homeowner as well as personally vetted trade people who can help you with any repairs or improvements you may be considering.

Inside your Homeowners Policy

263 Views, 0 Comments

More than 44 million borrowers in the US have student loan debt totaling over $1.5 trillion. For students, recent grads, or those who have advanced degrees with lots of debt, it might seem like home ownership is out of the question because of financing. The Triangle Area is home to some of the best academic undergraduate, graduate, and medical and law programs in the United States and we have helped hundreds of students, recent graduates, and those with considerable student loan debt, successfully buy real estate. We want to assure you it's not impossible. Here is a short guide to buying, with student loan debt even in the current market.

  1. Spend the Time to Improve your Credit Score: Regardless of whether you have student debt of not it all…

340 Views, 0 Comments