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…

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 Triangle Area Fraud Alert

Triangle Area Fraud Alert! Beware Homeowner Benefit Agreements!

Recently My NC Homes was made aware by one of our preferred real estate attorney's and a local Register of Deeds of a worrying practice occurring in North Carolina. We would like to warn our clients, prospective clients, and the public of this practice before they are impacted. Here is what to know about Homeowner Benefit Agreements and what they really mean.

What are Homeowner Benefit Agreements?

As inflation impacts many homeowners there are those who need extra cash and who fall prey to predatory lenders and or real estate firms/brokers offering them quick cash with out any loan documents. A Homeowner Benefit Agreement binds the signer who owns a property to a certain…

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Your Guides to Buying or Selling a Home This Fall

If you are considering buying or selling a home this fall, you probably have a lot of questions. Mortgage rates have been rising, inflation concerns have some worried about investing in real estate, and rents continue to rise. For many waiting until they feel more comfortable with the market, may not an option. The reality in real estate and in life is that there really is no absolute perfect time to buy or sell. In real estate there's an old saying, "The best time to buy a home is right now or 20 years ago." Hindsight is always 20/20 and the best we really can do is educate ourselves with the necessary information so that we make a smart; informed decision. The great news is while it is still a…

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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…

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Retiring in the Research Triangle

In The Research Triangle we are witnessing a real shift in demographics in the housing market. Many technology companies choose The Triangle because the schools generate so much of the talent that they are looking for. As a result, the market for new homes and and among first-time home buyers is strong, but what may be less obvious is the large uptick in those choosing to retire in The Triangle. There are numerous reasons that make retiring in The Triangle desirable and we are going to list some of the lesser know reasons that The Triangle is an excellent retirement option for those at that stage in their lives. We also have some facts about home equity and retirement.

Healthcare

Whether you are choosing a…

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When buying a piece of property, whether it has a home on it, or it is an investment in land, a survey is an incredibly valuable tool. Surveys may accompany a sale or a buyer may invest in a survey to determine use or future use of land. If you are building a fence, putting in a pool, or simply would like to understand where your land ends and your neighbors begins, a survey is your solution. We would like to offer some reasons to obtain a survey and answer some frequently asked questions regarding a survey.

Surveyors

Surveyors are experts at defining a property's legal boundary. Their process starts by compiling historical surveys, records, and titles, then they write a report that includes photos, street address, a written description of the…

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Think home prices in the Triangle will be falling? Think again. The past two years have witnessed incredible equity gains nationwide and in some areas, well in the double digits. Prices must slow, right? The increase in interest rates will slow down buyers, right? We address these questions regularly with our clients and the indicators point to continued gradual gains in equity and interest rates that are likely to increase, but home prices are far from at a free fall. Let's discuss.

Home Price Appreciation 2022 vs 2021

According to data from CoreLogic, the rise in home prices over the past year and a half show a dramatic increase in the rate of home price appreciation in 2021, where home prices are still rising in 2022, they show a more gradual…

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Most news, is unsettling regarding an impending recession, however, a recession does not always equal a housing crisis. Major housing market indicators have shown some volatility as we are seeing signs of inventory rising combined with interest rate hikes; begging the question is this a correction and not a crisis? My NC Homes explores why a recession does not necessarily equal a housing crisis.

History of Housing Market and Recession

We are in a different supply and demand period. In the past five recessions, home prices typically remain stable. During the Dot-Com recession in 2001, prices grew 6.6 percent. During the 1980 and 1981 recession, prices grew by 6.1 percent and 3.5 percent, and the dips in prices were relatively small, being 1.9…

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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…

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One of the questions we get asked most frequently from sellers is, "Should I update my home before selling it?" The reason so many sellers ask is that they are concerned that either they will lose money if they don't update or that they don't have the money they would need to make the updates and are concerned that we're going to "require" them to do so. We could possibly rank this as the most misunderstood element of home selling by sellers. Certain updates will impact the value of your home more than others. Certain curb appeal, low cost, elements help it attract more buyer attention. While expensive renovations are largely unlikely to recoup the money spent, let's go over what is and is not an update you should make in this month's Ask a…

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