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Triangle NC Real Estate Market Update for December 2019

The Triangle Multiple Listing Services (TMLS) recently released December 2019 information for the Triangle NC real estate market over the past month and year.

That information includes numbers for new listings, closed sales, sales prices, volume, days on market, and inventory of homes for sale, comparing the figures for December 2019 and December 2018 one year ago. Here are some of the highlights from the TMLS Market Update:

  • Showings: +12%
  • Point in time inventory: -5%
  • Houses listed during the month: +6%
  • Pending sales current status: +4%
  • Pending sales during the month: +15%
  • Overall closed sales: +25%
  • Resale closed sales: +31%
  • Full year 2019 closed sales: +6%
  • Overall average sales price: +4%
  • Resale average sales price: +8%
  • Average days on market: 55
  • Months of housing supply: 2 months
More detailed information is presented in an 8-minute video from the Triangle MLS HERE.

The graph below illustrates the 4-year trend in median sales prices for homes in the TMLS coverage area comprised of Durham, Johnston, Orange, and Wake Counties in North Carolina.

3 North Carolina Home Improvements Worth the Investment

Shows like Fixer Upper and Property Brothers are fun to watch and inspire many homeowners across North Carolina to think creatively about how to upgrade their homes.  For both sellers and buyers, completing home-improvement projects can be rewarding and can make a home in Charlotte, Lake Norman, Wilmington and the Triangle more attractive and functional; however, whether just moving in or preparing to sell a home, Flat Fee Realty agents recommend clients consider the return investment before spending large sums of money on major renovations.

These three upgrades are worth the investment because each one increases resale value:

  • Update a dated bathroom: A nice bathroom to pamper oneself goes a long way in the housing market. Bathroom remodels normally earn back up to 100% of what homeowners put into it. Not sure where to start? Tile the area around the tub, and add a shower door. Upgrade the vanity (choose something both stylish and functional with storage space) and install a new faucet. If there isn’t any ventilation in the bathroom, adding a new bathroom vent fan may help keep the humidity and mildew from warm showers at bay.

  • Add curb appeal: First impressions are everything. If the house exterior needs cleaning, try remedying the problem with a spray like Wet & Forget. If it still looks dull and faded after that process, consider freshening up the outside of the home with a professional power wash, then a fresh coat of paint. Next, think about the light fixtures both for safety and curb appeal. Finally, a nicely-landscaped lawn can go a long way. Start by trimming any overgrown bushes or trees. Then, consider consulting a landscaper or even a local garden center for ideas.

  • Upgrade the kitchen: Kitchens are another great place for upgrading for a solid return investment. Try to avoid the cheapest materials, but don’t overspend by purchasing items that are more luxurious than functional. Also, remember that while television shows entertain viewers with major renovations, many homeowners can create beautiful spaces with a few simple changes. For example, consider creating storage space that makes items easily-accessible, add granite countertops, and add an upgraded backsplash.

Before spending money on a major renovation, clients should contact a Flat Fee Realty agent to ensure their plans align with the interests of most buyers. This will increase the likelihood of getting a return investment on one’s home-improvement projects.

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This post on selling and buying a home in the Triangle, Wilmington, Charlotte, and Lake Norman is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230 (Main Number)

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Terry@FlatFeeNC.com

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Three Reasons to Buy a Home in the Triangle’s Competitive Market

It’s no secret that the Triangle is growing rapidly each and every month. While this growth is great for the North Carolina economy, making Raleigh a candidate for new Amazon and Apple headquarters, it also contributes to a competitive real estate market. From cities like Raleigh and Durham to towns like Apex, Cary, or Holly Springs, the Triangle’s real estate market is booming. For those looking to put down roots—especially first-time buyers—it may seem intimidating. Working with an experienced Flat Fee Realty agent, however, has its advantages when buying a home in the Triangle’s competitive market. 

Our team of local professionals offers three important reasons to work with Flat Fee Realty in the Triangle:

  • Access to MLS: With houses selling so quickly, it is important to be able to see available homes as they come on the market. Searches can be tailored to meet buyers’ interests and needs. For example, the number of bedrooms and bathrooms desired, a range of square footage, and garage size can all be filtered, so buyers can easily see the homes that will appeal to them and their needs most. While updates with these tailored searches can regularly be sent to buyers, buyers are also able to search through available listings at their convenience. 
  • Experienced agents: Buying a home is one of the biggest purchases most people make! Our experienced Flat Fee Realty agents know just what to look for in a home and are happy to answer clients’ questions, so they can make informed decisions. Receiving trustworthy advice from an agent who is familiar with the market and has years of experience in the real estate industry helps buyers to feel more confident when making big decisions in pursuit of buying a home.

  • Expert negotiators: Once buyers find their dream home, it’s time to negotiate. From offers to repairs, our real estate agents have the client’s best interest in mind and our team of professionals know how to navigate the complex and delicate nature of negotiation in the Triangle’s competitive market.

 

Flat Fee Realty agents know that buying a house is an important decision and we are here to help our clients find the home of their dreams in the Triangle with complete confidence. When working with buyers, we are passionate about helping our clients find a house they will be excited to call home.

Looking to buy a home? Contact Flat Fee Realty today!

Important Notice 

Not only do we have offices in the Triangle, we also have offices in the beautiful Lake Norman Region just north of Charlotte, and in Coastal Carolina in picturesque Wilmington. 

Lake Norman 704 659 3560

Wilmington 910 225 7721

Triangle 919 342 5230 

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate! 

Flat Fee Realty 

919 342 5230 

Find and like us on Facebook! 

Contact Us

 Terry@FlatFeeNC.com

 Photo: geralt, pixabay

 

 

3 Important Financial Tips for First-Time Home Buyers in North Carolina

Rent and lease prices are on the rise across the nation, and it is the leading cause for the increase in first-time home buyers here in the Triangle and across the United States. According to Zillow’s 2016 Consumer Housing Trends report, 50% of buyers are under age 36, and 47% of them are buying for the first time. This means there are an array of buyers in the market who need guidance from the local area experts, Flat Fee Realty NC.

Everyone knows that one of the biggest factors associated with buying a home is money. Buying a first home can be expensive, risky, and it can leave North Carolina homebuyers wondering if they’re making the right decision. Luckily, homebuyers in Wilmington, the Triangle, and Lake Norman have the expertise of Flat Fee Realty’s knowledgeable team of agents that are willing and ready to help buyers plan their financial investment in the right way.

Flat Fee Realty shares three important financial tips that are most important to first-time home buyers in North Carolina:  

  • Assessing geographic considerations: It’s all about location, right? Without proper planning, buyers may find their closing costs will skyrocket due to the applicable taxes in a specific area. The rates can vary across street names, so it’s best for buyers to be aware of the rates in their target locations and plan for them.
  • Avoiding Private Mortgage Insurance (PMI): Most mortgage lenders prefer a 20% down payment on a new home. If buyers offer something less, they are likely forced into other fees instituted to protect the lender; this situation can include private mortgage insurance (PMI). A full down payment will help to reduce interest rates on the loan overall and avoid the extra monthly fee associated with PMI.
  • Making sound financial decisions: No one can truly predict the future, and there may be potential financial benefits ahead for a first-time home buyer that might convince them to shop out of their budgeted price range. However, anything can happen, and it’s best to not count on money that might not be there in the future. First-time buyers should be realistic about what they can afford need to stay within predetermined means.

Buying a home for the first time is a huge investment; and Triangle, Lake Norman, and Wilmington buyers deserve a local dedicated team on their side. Our agents at Flat Fee Realty can help first-time buyers plan their finances and make sure nothing comes as a surprise. Contact us today to see how we can help!

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This post on selling and buying a home in North Carolina is brought to you by the team at Flat Fee Realty LLC and is intended for informational purposes only.

Look for our new locations in Wilmington and Lake Norman

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The Future of Real Estate!

Flat Fee Realty

Triangle: 919 342 5230 

Lake Norman: 704 659 3560

Wilmington: 910 225 7721

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

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3 Ways to Use Social Media to Boost Home Marketability Across North Carolina


Since so many Triangle, Charlotte, and Wilmington residents have social media accounts through Facebook, Twitter, and LinkedIn, home sellers are able to utilize those platforms to keep home buyers informed and interested in listed properties. Our real estate professionals at Flat Fee Realty recommend using social media to help in to help in the home selling process.

3 ways Flat Fee Realty uses social media to boost the visibility of North Carolina homes:  

  • Create and share websites: Serious sellers looking to increase their home’s online presence know that creating easy-to-navigate websites is important. A website can include information on the property, pictures, and even virtual tours to entice buyers to schedule a visit. The links to the website are easily shareable to social media platforms, making them ideal for sellers and buyers to interact.
  • Use personal networks: The great thing about social media is that everyone already has an established network of contacts at their fingertips. Friends and family are generally eager to help when one of their connections expresses a need. They’re able to share postings to spread the word, or they might even have advice for success during the online selling process!
  • Be careful of spamming: Social media users also have control of their news feeds, and they’re able to hide and delete repetitive or “nuisance” posts. Be sure to use the power of posting in a reasonable manner when sharing details of a home for sale. Try to keep posts informative and new, so don’t re-post the same thing several times a day.

There are many other important ways to use social media for selling a home in across North Carolina. Our experts at Flat Fee Realty are knowledgeable and have insight into how the platforms can be used to their full potential. Contact our real estate agents today to see how their guidance and the use of social media can help sell a home!

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This post on using social media for selling and buying a home in Lake Norman, Charlotte, Wilmington and the Triangle of North Carolina is brought to you by the team at Flat Fee Realty LLC and is intended for informational purposes only.

Check out our new locations in Wilmington and Lake Norman/ Charlotte

Find us on Instagram!

The Future of Real Estate!

Flat Fee Realty

Triangle: 919 342 5230 

Lake Norman/ Charlotte: 704 659 3560

Wilmington: 910 225 7721 

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

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Is Autumn the Time to Leave a Rental and Buy a Triangle Home?

clker-house-pixabayIt is interesting to note that approximately one third of all single family residences are rental homes. In certain areas of the Triangle, we actually have even higher rental rates. Renting or buying is a big decision. When considering whether to purchase a Triangle home or rent one, there are many factors to consider before this important decision is made.  

Our real estate experts at Flat Fee Realty work with many Triangle renters as they assess what to do.  In fact, many people need just the basics from our team to understanding the advantages of owning a home.

Flat Fee Realty offers three basic yet important factors to consider when deciding to rent or to buy in the Triangle:

  • Financial plans: Unless something drastic is changing in the near future, such as plans to leave the Triangle area or other large purchases that need to be made; there is more to gain financially by buying a home than by renting one. Home ownership allows for mortgage reduced taxes and home appreciation.
  • Desire to customize: If making changes in the rental is the desire, it is probably wise to purchase a home. In rental homes, many landlords will not want any changes made. Owning a Triangle home will give the ability to make changes and the upgrades as needed.
  • Stability: Many first time home buyers share that they are looking for stability in their living situation. Owning a home presents a lot more stability than renting one. A new home offers sound financial decisions and a new sense of ownership and security.

There are a number of advantages to owning a new home. A few fun rewards are new furniture, energy efficiency, new neighbors, and that fresh coat of paint!  

If information is needed about buying a home in the Triangle, please contact Terry McDonald and the real estate experts at Flat Fee Realty today.

The time is now to buy your new home; give us a call.

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Photo: Clker, pixabay

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

 

4 Big Mistakes to Avoid When Selling a Triangle Home

dreamstime_xs_18817936Listing a home in the Triangle, especially after living in it for years, can be an emotional time filled with questions and  memories. Many people across Raleigh now find themselves in an empty nest. What to do?  At Flat Fee Realty, we understand home sellers are investing quite a bit of themselves into selling their Triangle home.

The good news is that the Triangle real estate market is very active. Many people are ready to sell, especially in this seller’s market. This is great news, but managing those memories and emotions are very important. Clear thinking, coupled with the advice of one of our experienced Flat Fee Realty agents will minimize expensive mistakes. Across the country, many sellers will make an average of up to three costly mistakes each and every transaction.  

Flat Fee Realty advises against making these four big mistakes when selling a Triangle home:  

  • Having a cluttered or completely empty house: Clutter removes space and offers a poor first impression. Clear all counter space, throw out the magazines, and declutter the closets. On the other hand, a totally empty house makes it hard to envision imagine living there; consider home staging in that case.
  • Using inferior, blurry, or impromptu cell phone photos: Because most Triangle home buyers start their home search online, a home should make that “oh wow!” first impression online. Flat Fee Realty will help sellers to frame the interior and exterior in the most appealing manner.
  • Not disclosing important information: Triangle home buyers will usually discover any issues with the house, and use anything negative for bargaining position. Disclosing everything up front about every problem is the best approach.
  • Not planning the closing date: The difference of one day can make a difference in taxes paid. Check with us and our team for the best closing date.

Selling a house in the Triangle is simple but it is never easy. And, at times, it can be stressful. After all, home buying and home selling are usually the largest transactions Triangle residents will ever undertake. Flat Fee Realty can help minimize mistakes when selling a local home. If you live in Raleigh, Cary, Morrisville, and Apex and beyond, call the professionals; contact the Flat Fee Realty team today! We make the difference!

We are the future of real estate in Raleigh and the Triangle.

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

Photo: dreamstime, 18817936

3 Huge Reasons to Buy that Triangle Dream House Now!



pixabay-cliker-freevectorimagesThe Triangle housing market has seen great growth and continued success in 2016. For instance, the average median-priced Raleigh home, which is about $150,000 value, will sell in less than 30 days. This truly indicates that Raleigh and the Triangle are seller’s market; this is also good for Raleigh home buyers who are looking to purchase their first home, or looking to sell their current home and purchase another.

For the Triangle home buyers, September and October are definitely the time to take the next step and purchase a new home.

The real estate experts at Flat Fee Realty suggest three very important reasons why the time is right to buy, and buy quickly before the end of 2016:  

  • Demand is high: Since the Triangle area has been nationally recognized as both a great place to live and a booming economy with excellent work opportunities, new home buyers are flocking to Morrisville, Cary, Apex, and other surrounding cities to start anew. This increase in demand will lessen the supply of homes available for purchase, so buyers should act fast if they want to secure a great deal on a home. It just takes a little homework and Flat Fee Realty.
  • Supply is low: Home sellers are taking advantage of this higher demand, and because of this fact, there are less homes on the market and shorter selling times. Sometimes, even same day listings will see buyers prepared to make offers with pre-approvals in hand. Along with this, since the demand is higher than the supply, homes are selling at listed prices or a little higher, making negotiations a little more challenging as we work on the client’s behalf.
  • Mortgage rates are very good: Right now, mortgage and interest rates are extremely low, which enables Triangle home buyers to research the best rates and terms for their needs with better odds of approval. However, making a quick decision is important. Remember, after the election, rate increases can and often do happen.

These are just a few reasons why new home buyers should act now. The Triangle area is a nationally recognized location for opportunity and advancement. And we can find the dream home that will make the difference. We work for every client with both service and value combined. Contact our real estate agents at Flat Fee Realty to act now and get the best deals available!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Photo: Pixabay, Cliker freevectorimages

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

 

3 Questions New Home Buyers Need to Ask Before Purchasing Anything

FFR- Jan 19 Pic- Stuart MilesListing a home “as-is” in the Triangle real estate market is a move that definitely benefits the home seller. For buyers, this type of home means a lot of research is required in order to ensure that purchasing this particular property is a good investment. Enlisting the help of a Flat Fee Realty professional will make the opportunity easier to navigate, and we will assist with just the right questions to support a wise real estate decision.

The real estate experts at Flat Fee Realty advise Triangle home buyers to ask these three important questions when considering purchasing a home listed in “as-is” condition:

  • Who is the seller? This may seem redundant, but knowing who the seller is in the case of an “as-is” property is important. If the property was foreclosed on and a financial institution took over the resell, the bank might be unaware of the overall condition of the home, which may need repairs. If the current owner is selling, they may be unwilling or unable to make necessary repairs, so the negotiation process will be more challenging for both the buyer and the Flat Fee Realty agent.
  • What repairs are needed? Buyers are urged to use the due diligence period to their advantage. The listed “as-is” price may be intriguing, yet it’s crucial for buyers to be aware of any damage or problems that the property possesses so they can factor in the cost for repairs. Home inspections may cost some money upfront, but in the end the buyer benefits from knowing the property’s condition.
  • Will the seller negotiate? If inspections show that substantial work is required to make the home move-in ready, buyers should know their options for potential negotiation. The seller may indeed be incapable of making the repairs, so buyers will have to determine whether the investment is a good decision. However, if there’s room for negotiation, Flat Fee Realty in Morrisville will be able to provide guidance during the process.

Homes listed in “as-is” condition may seem like a risky investment, but armed with the right knowledge and resources, such as an agent from Flat Fee Realty, buyers will have the tools necessary to make sound decisions. Contact us today to obtain excellent counsel in the Triangle real estate market!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only. Seek the guidance of an agent before purchasing a home.

The Future of Real Estate!

Flat Fee Realty Morrisvillle, NC

919 342 5230

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Contact Us

Terry@FlatFeeNC.com

Photo: Stuart Miles, FreedigitalPhotos

3 Myths Home Buyers in the Triangle Need to Know

dreamstime_xs_18817936The Triangle real estate market is in its summer season of growth. The market in the Raleigh, Cary, and Apex area is seeing lower interest rates and an increase in home values. Overall this means more competition among buyers and sellers alike; and with more competition, buyers should be educated and not make decisions based on common real estate myths.

Our real estate professionals at Flat Fee Realty shed some light on three common real estate myths that are associated with buying a home in the Triangle:

  • Down payments are the only upfront cost:  Unfortunately, this is just one of several costs that come with buying a home. Between home inspections, repairs, closing costs, and realtor commissions, buyers will do well to be prepared for financial surprises. This isn’t meant to scare potential buyers away. Proper planning and enlisting the help of a buyer’s agent will benefit those who are unfamiliar with the overall process.
  • Excellent credit gets the deal: Although a great credit score wouldn’t hurt, the reality is that most people are building credit for the first time or rebuilding after some mishaps. The housing market will not exclude those who have average or below average credit scores. Talking with a lender about your situation will show many options such as an ARM, an FHA or VA loan, or even a fixed-rate mortgage.
  • Lenders with the lowest interest rates are the best choice: When the Triangle market gets competitive, buyers tends to seek out lenders who offer the best interest rates. A few percentage points could mean the difference of several thousand dollars in mortgage interest over 30 years. However, the lender with the lowest rate might have poor reviews and client service. It is important to take the time to do research and find reputable lenders with a good history and background.

As 2016 heads more deeply into the 3rd Quarter, the Triangle housing market is sure to see some changes. Buyers and sellers must be prepared with the facts to ensure a smooth process and enjoyable buying experience. Contact our professional and friendly real estate agents at Flat Fee Realty to ensure you have the facts on your side!

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Photo: dreamstime, 18817936

This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

 

 

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