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Summer is almost here! According to the Triangle MLS Monthly Indicators, pending sales were up across the Triangle 35.2% and there is now a 5 month supply of homes on the market, the lowest level since August 2007.  Prices have moved higher in certain price points. The Median Sales Price in the Triangle increased 2.2% to $194,200. The Days on Market (DOM) was down 9% to 115 days. This is the 3rd consecutive month where the average DOM has been lower than the prior month. The May average is the lowest since December 2010. 

According to Dave Bracken, a Real Estate writer for the News & Observer, "The Triangle housing market continued its run of positive growth sales in May, with sales increasing 28%. While it is certainly easier to sell a house now than it was a year ago, it remains very much a buyers market, where sellers must make the necessary improvements to their homes and price them aggressively if they hope to find a buyer."

When looking at the number of showings in May, this is what we see: Homes that are priced in the $200-$299k range, have the most number of showings. Homes in the $300-$399k range, produce a high number of showings as well. While real estate numbers continue to improve, real estate sales are tied to consumer confidence and the economy. The more improvements we see related to jobs and domestic growth, the better the Triangle real estate market will be.

Watch this video from Stacey Anfindsen to find out the trends in the local Triangle real estate market for May 2012

 

There are some great Triangle homes for sale!!

If you would like to sell your home, click here. 

If you are interested in buying a home, click here.

SEG

Triangle Real Estate Sales Are Up In May!

by Masha Halpern

Summer is almost here! According to the Triangle MLS Monthly Indicators, pending sales were up across the Triangle 35.2% and there is now a 5 month supply of homes on the market, the lowest level since August 2007. Prices have moved higher in certain price points. The Median Sales Price in the Triangle increased 2.2% to $194,200. The Days on Market (DOM) was down 9% to 115 days. This is the 3rd consecutive month where the average DOM has been lower than the prior month. The May average is the lowest since December 2010.  
 
According to Dave Bracken, a Real Estate writer for the News & Observer, "The Triangle housing market continued its run of positive growth sales in May, with sales increasing 28%. While it is certainly easier to sell a house now than it was a year ago, it remains very much a buyers market, where sellers must make the necessary improvements to their homes and price them aggressively if they hope to find a buyer."

When looking at the number of showings in May, this is what we see: Homes that are priced in the $200-$299k range, have the most number of showings. Homes in the $300-$399k range, produce a high number of showings as well. While real estate numbers continue to improve, real estate sales are tied to consumer confidence and the economy. The more improvements we see related to jobs and domestic growth, the better the Triangle real estate market will be.
 
Watch this video from Stacey Anfindsen to find out the trends in the local Triangle real estate market for May 2012. Click here>http://www.youtube.com/watch?v=UXSOj8HoQro 

There are some great Triangle homes for sale!!
If you would like to sell your home, click here.
If you are interested in buying a home, click here
 
 
 
SEG

 

Low Foreclosure Rate in North Carolina

by Masha Halpern

Tips for Selling in a Slow Market

by Masha Halpern

Chapel Hill home sellers are finding that selling their home is more and more challenging everyday as they are in steep competition with new home foreclosures. So how do you get your home off the market and into contract? Here are five tips to getting your home sold quickly and the price you’re looking for:

  1. Pick the agent who is right for your market.  Your first plan of action should be to locate an agent with proven results with sales. Keep in mind you should also work with someone that you feel comfortable and confident with.at has a good track record with sales in your market range and neighborhood. Good sales stats in your price bracket demonstrate that the realtor knows what buyers are looking for and how to move property similar to yours. A great agent can help you move your home, even in a tough market.
  2. Know your market. Understanding the ‘comps’ in your area will help you reach a realistic asking price and get a better handle on the competition. Ask your realtor to provide this information and also take opportunities to visit open houses for homes that are comparable to yours. Do your homework and get familar on info on staging, pricing and what buyers are looking for..
  3. Keep up with repairs and maintenance. Don’t hesitate to make necessary repairs and maintenance to your home when you are ready to sell. You don’t have to undergo major remodeling or expense. Simple updates like fixing broken steps, touch up painting and keeping your lawn-mowed and flower beds cleaned out will really go a long way in making your home look move-in ready.
  4. Be flexible. From having your home ready to show at a moment’s notice to your willingness to negotiate, the key to selling your home in a slow market is flexibility and responsiveness. Going the extra mile for prospective buyers can really make a difference in getting more people through the door ready to make an offer.
  5. Add value. Remember that you are competing with short sales and foreclosures, so any extra value you can add to your home can make it more attractive. Whether it’s an appliance, patio furniture or a simple cost concession, small items can add up to big pluses when prospects are evaluating the total value of your home.

In a slow North Carolina market, you need to get your home noticed quickly and be willing to negotiate so that prospective buyers see a great value in your property. Don’t stop looking for ways to make your home stand apart from the competition!

 

 

KH & Co.

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Waiting to Purchase a New Home?

by Masha Halpern

We are all aware that the Real Estate Market is slow in some areas of North Carolina. At the same time, housing is still at its most affordable level in years. So why aren't buyers purchasing more homes?

1. One reason is how much credit is available to buyers. There are more hurdles in obtaining a mortgage than before. In addition to showing that you can afford to buy a home, even if you have a lot in savings, banks want to see income. Lenders want to see W-2 forms.

2. Some buyers think prices will fall even lower.  Home prices are low now, mortgage rates are low as well. Interest rates will slowly start to creep up. Don't put off until tomorrow what you can do today. Now is a great time to BUY!!

3. Buyers are not confident in the economy. Unemployment is high and even those who have jobs don't feel a sense of job security. The more insecure people are in making purchases, the slower the economy grows.  It's a catch 22. Another reason to BUY a home; to help jump start the economy!!

I think once consumers regain confidence and banks increase lending to those who qualify, buyer activity should pick up.  In the meantime, SELLERS be patient. Your home will sell, all you need is one buyer.

 

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Photo of Masha Halpern - Boutique Real Estate Real Estate
Masha Halpern - Boutique Real Estate
Keller Williams Realty
101 Cosgrove Avenue, Suite 200
Chapel Hill NC 27514
Direct 919-951-1780
Toll Free 877-478-4669
Fax: 919-928-9030




Masha Halpern of Keller Williams Realty provides real estate services in the Chapel Hill, Carrboro and Durham, North Carolina area including real estate services for buyer, sellers and those relocating to the surrounding areas of Apex, Bahama,Cary, Efland, Hillsborough, Holly Springs, Mebane, Raleigh, and Wake Forest. Search for homes in Chapel Hill, Carrboro, Durham or the surrounding communities.  Request a market analysis for your North Carolina property.  I list and sell residential real estate, investment property, vacant land, lots for sale in Chapel Hill, Carrboro and Durham, North Carolina area.

Chapel Hill, Carrboro and Durham, North Carolina real estate and homes for sale in North Carolina - Masha Halpern & The Smart Move Team

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