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News resources are reporting what I am seeing "on the ground." Chapel Hill, Durham and Raleigh Real Estate has a home shortage; but when a good home comes on the market, it sells fast and sometimes for over list price with multiple bidders.

Buyers who were put off from their home purchase plans in January and February due to weather came out in big numbers in March and purchased homes that were priced to sell and in move-in condition! 

Location played a factor as many younger buyers are trending towards conveniences of city vs suburban lifestyle; but home sales rose - and that's a good sign - even if we are about a month behind due to inclement weather.

Finding a new home hasn't been easy and with historically low levels ( down 7% from last year and 46% from four years ago ) it's left many puzzled and asking, "Why aren't more houses coming on the market? In a typical market, the law of supply and demand says increasing demand would lead to rising prices, which would in turn entice more homeowners to put their homes on the market for sale.  But it's not happening...or at least not as fast as we would expect for this time of year. Why?

Well, I alluded to one reason earlier, younger buyers preferring more city life conveniences to suburban neighborhoods. Homes like our listing at 411 Fairoaks Circle that's convenient to downtown Chapel Hill sell faster!

Some Chapel Hill homeowners and Durham homeowners may have purchased when the market was more inflated and aren't willing to sell unless they break even or realize a profit. Most price measurements put the areas annual appreciation between 3-6%, which means some homeowners may consider selling their home, but not for a few more years.

For sellers, the market looks different post-'bubble.' Mortgages for buyers are harder to obtain which can mean less purchasing power for buyers. This means buyers are looking at more affordably-priced homes to buy- and that lack of purchasing power has helped keep prices lower. Many sellers are opting to wait. But there are some great finds out there! Take a look at our listing at 4310 Hope Valley Rd - it offers space and a great design!

Lack of purchasing power also means homes that sell are more move-in ready than not. Buyers simply can't afford to buy and fix up a home in this market. Some sellers are considering investing in their home with updates to entice buyers to their home.

New home construction sales are also down in the first quarter, mostly because of less speculative building - or spec homes - on the market. Our local markets are down to a quarter of homes available for sale when new home sales used to account for as much as 1/3 of the market share.

So where is the good news? It is in some of the numbers that appraiser, Stacey Anfidsen, discusses in his quarterly review.  Inventory is down 3% from last year at this time but up 6% from last month. Weather!. People hate to drive in snow! Pending sales were down 2% from last year but up 35% since in March! Yes, once it warmed up, buyers came out and bought a home!  They did it quickly too! Average Day on Market dropped from 112 to 85 days in March.

Click below to hear his comments.

One bit of good news Stacey notes in his message this month - our market is about 4-6 weeks behind where it normally would be in terms of activity... so maybe that means more buyers will be looking later in to the year... allowing more home sellers to sell their home in 2014!

 

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Masha Halpern and The Smart Move Team is your ultimate real estate resource for Chapel HillDurhamCarrboro and surrounding areas. Visit my website at www.TheSmartMoveTeam.com for detailed information regarding today’s real estate markets.

Masha is a certified member of The Luxury Home Marketing Institute, participates in its annual Leaders in Luxury Conference, and works with The Institute’s thousands of members worldwide to share information about current listings.

Masha is also a certified member of Keller Williams Luxury International and is Chapel Hil & Durham's EXCLUSIVE  member of Cyber Stars International – Top Realtors Using Technology – a group dedicated to taking the best and latest technological advances and applying them to real estate advertising and marketing for her clients in all price pointsMasha Halpern can be contacted for a private consultation by calling 919-414-0337 or by visiting www.TheSmartMoveTeam.com.

 
 

Chapel Hill and Durham Home Sales Strong in Fourth Quarter 2013

by Masha Halpern-MH

 

 

Homes are still selling quickly and North Carolina! Our local newspapers are reporting it and I am excited to also share this news with you.

October growth in the "Triangle", as reported by CoreLogic ,was still conservative compared to the national growth of 12.2 percent; but with Raleigh and the rest of Wake County showing an increase of 6.4 percent compared to the same time last year; and the Durham and Chapel Hill areas showing a 6.1 percent increase from October 2012- it's all good news!

Continuing the 2013 trend, Raleigh and Cary home prices rose 5.2% in the third quarter compared to the comparable  2012 time period. Durham  & Chapel Hill areas increased 2.3 % over last year's third quarter findings. Since each neighborhood delivers its own particular appreciation, the old adage " Location, Location, Location" is still one of THE determining factors on what your home's value may truly be. If you would find a personal conversation about potential real estate business useful, it would be my pleasure to speak with you.

Our Triangle MLS also provides supporting information in the video below  regarding area of inventory and resale transactions that is particularly interesting to see continue in the third quarter.

 

With October closed ( or SOLD ) properties up 18 % from October 2012 and our average Day On  Market continuing to decline ( now 67 down from 114 ), and new inventory ( homes coming on the market now ) UP 10 %; I can happily say the market here is booming!

Many of our home sellers are seeing multiple offers- in fact a reported 10-12% increase, and, in our busy times of the year, noting a much shorter D.O.M of 1-30 days.  With inventory low asking prices have increased. It really is "the law of supply and demand". One final note, As we close out the third quarter and look to  the end of the year; we expect to see  financial concessions by home owners slow to a stop as activity and demand make this less necessary to find a buyer to buy a home in Durham or buy a home in Chapel Hill.


Masha Halpern and The Smart Move Team is your ultimate real estate resource forChapel HillDurhamCarrboro and surrounding areas. Visit my website for detailed information regarding today’s real estate markets.

Masha is a certified member of The Luxury Home Marketing Institute, participates in its annual Leaders in Luxury Conference, and works with The Institute’s thousands of members worldwide to share information about current listings.

Masha is also a certified member of Keller Williams Luxury International and is also a member of Cyber Stars International – Top Realtors Using Technology – a group dedicated to taking the best and latest technological advances and applying them to real estate advertising and marketing for her clients in all price pointsMasha Halpern can be contacted for a private consultation by calling 919-414-0337 or by visitingwww.TheSmartMoveTeam.com.

 

 

 

 

It never gets old hearing positive real estate news! " Strong Trend in Home Sale Continues in Fourth Quarter in Raleigh Durham Chapel Hill Real Estate". You may have noticed a neighbors home go 'up for sale' recently and been amazed that shortly after a 'contract pending' sign appeared. Its true. Our market is doing much better and continuing to show improvement.

 

Local lenders are busy processing new loans on top of refinance loans and appraisers are finding more sales comparable properties available for appraising. Listen to Stacey Anfidsen discuss our November 2012 activity compared to the same month in 2011.

 

I have certainly noticed that my buyer clients are having to select homes much faster than before...and in some cases have less to chose from. Stacey pointed out that there were 3.4% less homes on the market in November of 2012 than in the same month in 2011. That makes sense! That all translated in to 28% more homes closing ( ie they actually sold ) in November 2012.

 

Is this a trend and how do we know this will continue?

November 2012 showings were up 15.2% and there were 21% more pending ( contracted ) homes in November of this past year 2012 than the year before. That all means that January 2013 will also be a STRONG closing month and so the trend will likely continue in to 2013!

There seems to be a growing confidence in the real estate market and people are buying a home or selling a home more than in previous years. This is all resulting in a 6.7% increase in the average sale price from November 20111. This does not mean if you bought a home in 2011 that it could have sold for 6.7% more in 2012; but it does indicate a growing confidence in the Chapel Hill, Durham, Raleigh real estate market home sales.

 

One other nice piece of news in real estate is that the avg time a house 'waited' before going under contract has gone down to 114 days in our area;down from 129 the year before. Great news as we look for the annual wrap up post coming next!

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Masha is a certified member of The Institute for Luxury Home Marketing, participates in its annual Leaders in Luxury Conference, and works with The Institute’s thousands of members worldwide to share information about current listings. Masha is also a certified certified member of Keller Williams Luxury International and is also a member of Cyber Stars International – Top Realtors Using Technology – a group dedicated to taking the best and latest technological advances and applying them to real estate advertising and marketing. Masha Halpern can be contacted for a private consultation by calling 919-414-0337 or by visiting www.TheSmartMoveTeam.com.

 

 

 

 

 

October Triangle Real Estate Home Sales Continue To Rise!

by Masha Halpern

This may sound repetitive to some but 'Oh how sweet the sound'! October Triangle home sales continue to rise! Recent market indicators, shared with me through our TMLS, by local appraiser Stacey Anfidsen, report great news for our local market. Watch this TMLS video for all the great news!

 

Monthly indicators show that home showings are up 16% this month from one year ago. Sales continue an upward trend rising to 31.5% and a new high of 34% in the pending homes category mean homes are going under contract AND closing at higher percentages than in 2011.

How we know this is by watching the monthly absorption rate ( or monthly supply ) of homes. In 2011, the Raleigh, Durham, Chapel Hill and surrounding areas, had a nine month supply of homes on the market. It is typically considered a buyer's market when there is more than a six month supply. Anfidsen reports this month we have a five months supply- meaning the market is more balanced and slightly tipped in favor of sellers.

 

 You may already know this if you happen to be a current buyer and have tried to buy a home recently in Chapel Hill or Durham and been outbid in a competing offer situation. I am seeing more of this every day and I'm preparing my clients to be ready, knowledgeable of the daily market, and competitive with their bid. Our plan is working for our buyer and seller clients and I would be happy teach you the steps if you want to buy or sell in the next few months.

More interesting facts:  We have 16 % more new listings for sale on the market ; and an average day on the market time that has come down to 114 days from 123 days one year ago.More homes are coming on the market and selling faster when they do which means it is a GREAT time to sell your home! Note that inventory is selling and we have another month of declining inventory- 20 % less in fact. YES, that makes 11 months in a row, of decline in the number of homes on the market.Incredible news!

What does this all mean? Well, when you have inventory going down and sales going up, eventually prices will start to go up as well. Anfidsen notes two things to keep an eye out for to show prices are going up in the local market: The average list price of new construction is going up when it had been in a declining pattern, and the monthly supply of houses changing to a smaller number. Two years ago we had a 12 month supply and now it is five.

Basically its all good news if you are buying a home because there are a lot of new homes to see; they are moving faster; but they are selling- which also makes it a great time to sell! Even in what is traditionally a slower time of month; my personal activity is higher than ever!



Masha Halpern has been selling homes in Chapel Hill and Durham for 20 years and is in the top 10 percent of Keller Williams Realtors in closed sales nationwide. Masha is also certified as a Luxury Home Marketing Specialist and a member of kwLuxuryInternational. Call Masha Halpern at 919-951-1780 or 877-478-4669, if you are considering buying or selling a home.

Chapel Hill and Durham Home Sales Strong in Third Quarter of 2012

by Masha Halpern

 We just got great news AGAIN on our local real estate market. For the third quarter of 2012 and continuing the annual trend- Triangle home sales in Chapel Hill Durham and Raleigh, North Carolina are up 24% in both pending and SOLD homes!

 That is really exciting news since home showings are also up 12 % and the number of days on the market has gone down from 126 to 111 days. That 15 day decrease is really significant. Our inventory is down 23% from this time last year and that further supports the figure that homes are selling in the Chapel Hill, Durham, and Raleigh areas. Our inventory of new listings is up just 7% which means that the market is favorable to buying now- with great rates for loans and an active market it is just a matter of finding the right home to buy.

One new figure that local appraiser,  Stacey Anfidsen has started tracking is the number of contingent sales. Stacy reports that contingent sales are up 34% from this time last year.

 

Good news for jobs  locally is helping support stronger home sales in the third quarter. Employment is up in the "Triangle" area of N.C. as compared to other areas in the Tar Heel State and Nation. Unemployment is down locally to better figures, but still needs continued  improvement.

One final bit of good home inventory news is that the number of distressed properties is down to 9-10% of all homes for sale in our local  market- all in all a strong third quarter in Real Estate and great news if you are considering buying a home or selling a home in the Durham or Chapel Hill areas.



Masha Halpern has been selling homes in Chapel Hill and Durham for 20 years and is in the top 10 percent of Keller Williams Realtors in closed sales nationwide. Masha is also certified as a Luxury Home Marketing Specialist. Call Masha Halpern at 919-951-1780 or 877-478-4669,  if you are considering buying or selling a home.

Renting is now more expensive than buying a home

by Masha Halpern

 

This article out of today’s (4/4/12) Wall Street Journal reporting that on average, renting is now more expensive than buying a home that's comparable! 15 % more! Wow! That's a change from what's been reported for the last few years! And a welcome one at that!

Rental increases are due to a lack of inventory of available rentals.  Lower home ownership costs are the result of lower home prices and low mortgage interest rates.  The following article identifies the high/low cities across the country.

 

http://online.wsj.com/article/SB10001424052702304750404577322011443831768.html

 

Im curious; what are  rental rates where you are? Do you ever wonder what it costs to rent vs own a home? Click here if you are curious to know what choices of homes for sale exist in Chapel Hill, Durham or surrounding communities?

​Often times when families move to new communities friends and family tell them "You should rent first, buy in a year or two." The advice is well-intentioned but it may not make financial sense- especially if you have a Realtor who can give you important data about communities  in Chapel Hill or communities in Durham, to help make the transition easier.  

 

The tax benefits are really something that homeowners benefit from- so from a financial tax standpoint, it can make sense to buy now. Your financial planner will be able to answer questions specific to your situation. Its worth considering a home in the Southern Part of Heaven! Masha Halpern will be delighted to speak with you about your specific relocation and home purchase or selling plans. ​877-478-4669 Direct Line.

 

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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