Monthly Archives: September 2010

Triangle REALTOR Spotlight on Cary, NC

Situated near the renowned Research Triangle Park, Cary is a city rich in the southern hospitality which North Carolina is known for.  There is something for everyone in Cary, whether you are an outdoors type who enjoys the 22 public parks in Cary, or you spend the year looking forward to the Haunted Twilight Tour of Downtown just before Halloween.

In fact, recently voted Cary as one of the best places to live in the U.S., and apparently people have taken notice of Cary’s great qualities!   The city was ranked as the fastest growing metropolitan area in the country by federal statistics in 2008, and still boasts a population growth of 25%.

One factor that makes Cary an incredibly attractive place to live is its stable economy. With over 170 businesses in the Triangle area – including Cotton Incorporated and SAS Software – and over 50,000 employees, the median household income in Cary is actually higher than the national average.

The area is stimulated by its close proximity to three impressive research universities: Duke University, the University of North Carolina, and North Carolina State University.  These not only keep the business environment forward thinking, but help fuel local businesses with a regular stream of new employees who are loyal to the region.

Cary is also a great place to raise a family. Statistics show that more than half of Cary households have children under 18 years old.  With events like the Sertoma Series’ Free Children’s Concert on October 2nd and the Kid’s Combat Challenge at the family friendly Safety Festival, this city shows its strength in community building.

In spite of the recent national real estate roller coaster, Cary’s real estate market has remained stable and is not experiencing the extremes of many other cities.  In fact, the median home price in Cary has continued to rise at a healthy rate as the city has grown – from $264,000 in 2007, to around $355,000 this year. This is good news for current Cary home owners, as well as those considering the purchase or sale of a home in the Cary and surrounding area because it shows Cary to be a strong market.

Whether you are purchasing real estate or have a home for sale, a Fonville Morisey REALTOR would be happy to help guide you through the process. Cary is one of our specialties, so drop us a note today!

Triangle REALTORS: Sellers, Keep Your Chin Up!

If you’ve been trying to sell a home in the last year, you may be surprised to hear that we think you should keep your chin up because the outlook is brightening! We know it has been an up and down market for real estate in the past few years, so we’re here to give you some perspective.

We recently read a report by HouseHunt Inc. that stated this: “Even though there are still problems to be solved, the result of our 2010 random survey is good news for home sellers who have been unable to sell and for lenders reluctant to lend because of price depreciation and loan defaults. Any meaningful recovery must start from the bottom.”

So what exactly does that mean about the real estate climate for sellers? Well, in their recent survey of real estate agents, 53% of respondents reported that on average, their customers have been getting more than 95% of their asking prices; 60% reported customers receiving multiple offers; 52% reported minimal (0-10%) appreciation since 2009, and 77% reported that listings are taking more than 60 days to sell.

Though news about home sales in 2009 were less than ideal, there are factors coming into play in 2010 that are helping to change that trend. Due to historically low mortgage rates and relative ease of qualifying for a loan for responsible buyers, there are a substantial number of people exploring the real estate market with purchase intent!  While “people are house hunting” will never make headline news it is a great sign for the real estate climate.

Many house hunters today are looking for bargains and may make low-ball offers, so it is essential to position yourself with a strong value proposition for your home as you put it on sale.  Well staged pictures of your home, flexible home showings, and other incentives for buyers like knowing what to be willing to negotiate on can help you avoid lowering your asking price to get your home sold.

A talented real estate agent can help you prepare your home for sale, help you set realistic expectations and distinguish the qualified buyers from the “tire kickers,” so that you spend less time in the overall selling process and more time in conversation with real buyers.

If you have a home for sale and things aren’t moving very fast, keep your chin up.   A Fonville Morisey agent can walk you through the process of making your home stand out in potential buyers’ eyes. At Fonville Morisey, we sell a house in the Triangle every 90 minutes. Why not let your home for sale be next! Drop us a note and we’ll be in touch.

Triangle Real Estate: Top Headlines

America’s Best Housing Markets for Real Estate Investors – Forbes has listed Raleigh as one of the best places to invest in real estate in the country! The combination of a strong job market and stable economy, Raleigh stacks up well against similar cities and hasn’t faced the real estate roller coaster many cities have.

Survey Shows Steady Job Growth Across N.C. – Our great state is gaining attention for its strong economy lately! For the tail end of 2010, there is expected to be hiring, not firing, across the state as many companies plan to either keep their companies the same size, or increase!  Cary-Raleigh area companies reported one of the highest percentages in the nation, with 21% of companies definitely hiring.

Annual Escapism Film Festival in Durham – Looking for some fun and entertainment? This weekend the Escapism Film Festival returns to Durham, so run away with a favorite childhood movie and enjoy your weekend. Raiders of the Lost Ark and Robocop will both be on! Just some of the creativity that makes Durham a great place to live.

Curious About Real Estate? – Want to learn about what is going on in the real estate world? Interested in exploring the Triangle? Take a look here for Triangle news, city profiles and real estate advice!

Triangle Real Estate: Why Full Service Matters for Buyers and Sellers

What comes to mind when you think of buying a house or selling your home? Most likely, you feel a mixture of excitement and apprehension.  There is the exhilarating promise of something new: a movement forward toward things to come.  At the same time, there can be a burden of nostalgia, uncertainty about what to do next and unfamiliarity with the territory.  At Fonville Morisey, we want you to experience the fun side of real estate, the exploration and discovery followed by the brave step forward!

The assistance of a full-service REALTOR can be an incredible asset when it comes to navigating this process.  In a buyers market, like the one we’re in now, it is more important than ever that real estate transactions be guided by someone with experience.  This makes it a prime time to seek a full-service REALTOR, rather than casually approaching the market.  Some buyers and sellers can be drawn in by lower fees and limited service, but unfortunately, many times you get what you pay for. Sellers may find their homes staying on the market longer with repeatedly reduced prices, and buyers may find themselves viewing homes that are outside the scope of their home-owning dreams!

Full-service real estate REALTORS, like those at Fonville Morisey, walk you through what can sometimes seem like a real estate maze, going above and beyond to ensure a successful real estate venture.

When buying a home, a full-service REALTOR will:

  • Coordinate a home search based on your ideal criteria
  • Research zoning, property taxes and prior permits
  • Assist you with real estate contract structuring
  • Help negotiate terms with the seller
  • Counsel you in negotiating any repairs to the property
  • Offer financing tips to help you qualify for a loan
  • Handle all the details of closing on your new home (so that you can concentrate on other things – like packing!)

If you have a home for sale, the services of a full-service real estate agent will:

  • Help you find a qualified buyer more quickly and easily than on your own
  • Assist you with home staging
  • Advise you in properly pricing the house to sell
  • Create a marketing strategy and schedule home showings for potential buyers
  • Assist with open houses
  • Guide your contract negotiations and repairs
  • Handle the closing details

With all these details in your agent’s hands, your time is freed up to handle your own personal details of preparing for your move.

Today, having a home for sale means much more than just placing a sign in the yard, so let one of the Triangle’s full-service real estate agents at Fonville Morisey help you the whole way.  Drop us a note today, we look forward to hearing from you!

What Triangle REALTORS Love about the Triangle Real Estate Market

In the Research Triangle, NC, are some of the nation’s strongest real estate markets. The Raleigh real estate market and Durham real estate climate have both been ranked in the top 10 in the nation for stability, promise of growth, employment rates and general quality of life.

The Triangle is unique because of the proximity to so many strong universities, like Duke, UNC-Chapel Hill and N.C. State, in addition to Elon and Wake Forest University. In addition, the Triangle real estate market is promising for investment, whether buying a home in the Triangle or making plans to buy a house after you sell your home. There are very strong and growing companies in the area, explaining why the unemployment rate is so low in the Triangle and promising jobs to those who move to the Triangle area.

As REALTORS, we love the Triangle area, but recognize that each place within the Triangle has its own unique set of characteristics. Cary has wonderful events throughout the fall, bringing the community together to celebrate things like safety awareness, Autumn harvest and Halloween. It is fun to be a Cary REALTOR because the area is so family friendly and culturally strong.

Raleigh is no different – making a strong “Go Green” push, Raleigh’s downtown has some new skyscrapers but many beautiful old buildings that have simply been renovated from the inside out, maintaining the historical façade of downtown but with updates to give the area personality.

Those are just two examples of why it the Raleigh real estate market is thriving and why being a Cary REALTOR makes coming to work each day wonderful. Durham is the same story – the Durham REALTORS job is simply to show the amazing area for what it is.

Drop us a note if you want to learn any more about Triangle real estate and what a great area this is to live in! We’d love to help you achieve your dream of buying a home in the Triangle or selling your NC home.