An Overview of US Real Estate Trends
Posted by RealEstate_Guru
Real estate trends can be tricky to predict. Although such trends are often responsible for significant market changes, the number of factors that contribute to real estate market behavior often makes trends difficult to analyze and predict. However, there are some baseline trends in real estate that are so strong that they merit a closer look.
Since January 2009, mortgage rates have been at their lowest since 2004, according to Freddie Mac. Freddie Mac is a nickname for the Federal Home Loan Mortgage Corporation, an entity authorize the US Congress to provide a secondary market for residential mortgages. A secondary market occurs when the lender (such as a bank) that holds the original (or primary) mortgage on a property chooses to sell it rather than hold it. Entities like Freddie Mac are then free to purchase the mortgage. In today’s challenging economic climate that’s fraught with inflationary pressures, investors are looking for security and this makes government-backed instruments especially attractive.
Along with more affordable mortgage rates, home prices are also falling. Since 2006, home prices have declined an average of about 21%. While this may not be good news for home owners or sellers, it’s great for buyers and is likely to stimulate demand, especially among bargain hunters.
Finally, there’s been a decline in new housing starts that’s the lowest since the late 1950s. Again, this is a double-edged sword because while it depresses the construction industry, the lower overall number of new homes on the market will help alleviate the surplus of unsold homes.
UncategorizedThe Amazing Variety of Neighborhoods in the Raleigh, NC Region
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There’s a remarkable range of Raleigh neighborhoods that offer virtually every type of lifestyle a resident could want. The city of Raleigh is the anchor in the region with a population of about 300,000. Also called the Triangle, the eight county area surrounding Raleigh, Durham and Chapel Hill boasts a population of about 1.5 million. Raleigh itself is lyrically called the “City of Oaks.”
The diverse population in the region has given rise to an equally diverse set of neighborhoods in Raleigh. Raleigh’s older, center city neighborhoods have a distinct Southern flavor and charm. Here you’ll find urban homesteaders lovingly restoring older homes to their former grandeur. Older and larger buildings have been converted into condominiums for those who prefer a true urban experience without the upkeep associated with owning a detached, single family home. Raleigh’s growth has been thoughtfully managed, so there are numerous greenways, parks, gardens and lakes. And the abundant oak trees continue to thrive.
Ringing Raleigh is a vibrant network of suburbs. For those who prefer to live outside the city, the suburbs in the Triangle region are as varied as the urban neighborhoods of the cities. The older suburbs with their affordable home prices are great places for young families and retirees. Reflecting the sound economy of the area, the newer, upscale, outer-ring suburban towns offer spectacular homes in country settings, many of which are near lakes, parks and golf courses.
The many neighborhoods in Raleigh, North Carolina, whether urban or suburban, reflect the incredible vibrancy of the area. Whether you prefer high culture, prestigious colleges, historic architecture or want just a simple and genteel Southern lifestyle, it’s very likely you’ll find a wonderful home in Raleigh.
UncategorizedWhy Not Consider a Home in Raleigh, NC?
Posted by RealEstate_Guru
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In the state of North Carolina, Raleigh real estate is in high demand. With a moderate climate and stable economy, the Raleigh region is a preferred location for those seeking moderately priced housing at competitive prices. The real estate market in Raleigh is vibrant and active for both families, professionals and retirees. Here are just a few of the highlights.
The median value of a single family home in Raleigh is about $225,000, which is nearly $10,000 below the national average. When looked at in terms of square footage, real estate in Raleigh is a bargain at about $135 per square foot. The national average is about $250. Homeowners in Raleigh pay an average of about $1900 per year in property taxes for a single family home while the national average is about $2800. In the 4-year period 2005 through 2009 housing values in this are have appreciated about 30%.
There’s no shortage of amenities and things to do in and around Raleigh. Whether you enjoy big-city attractions like theater and classic architecture or the quintessential small town character of the South, Raleigh is sure to have a home that suits your preferences, requirements and budget. Home to the historic North Carolina state capitol, museums of art and history, a restored pre-Civil War farmstead, aquatic center and live outdoor theater in the park Raleigh has a rich and varied culture. From its spectacular arboretum to the sports arena that’s home to the NHL’s Carolina Hurricanes hockey team and neaby natural, Raleigh offers an amazing variety of activities and attractions. For more information, click on one of the links above.
Cary Real Estate UncategorizedApex, NC: A Small Town with Big City Style
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Located in the Raleigh-Durham metroplex, Apex, North Carolina has just the right blend of small town charm and city conveniences. With controlled growth and a commitment to preserving the charming Southern character of the town, Apex’s government is progressive without being intrusive. Named the “14th best place to live in the USA” by Money Magazine, Apex also has a strong and stable economic infrastructure that draws residents from all over the state. The Apex real estate market is vibrant and varied.
Although Apex is progressive, the town hasn’t forgotten its roots. With a revitalized downtown area that’s listed on the National Register of Historic Places, Apex pays homage to its humble beginnings as a railroad town. Development in Apex is thoughtfully guided by a respect for the environment that’s carefully balanced to ensure a stable economy and sense of community. Real estate in Apex, North Carolina affordable. Property values have appreciated nearly 190% since 1990. Over 96% of the area’s residents have completed high school and almost 60% are college graduates, making for a stable and well-educated work force.
The climate in Apex is mild. In January, expect an average of about 40° and 78° in July. The average rainfall is about 45 inches and the snowfall is minimal at 7 inches. No city, town, employment center or location in the Research Triangle area is farther than about 25 minutes away from Apex. Apex also has plenty of parks, recreational facilities and attractions. The Jordan Lake State Recreation Area offers camping, fishing and swimming and other recreational activities. For history buffs, there’s the Maynard-Pearson house, a vintage 1870s residence that contains a museum of rural living and is home to the Apex Historical Society.
For those who desire a small town ambience without giving up modern amenities, the town of Apex is an excellent choice.
Apex NC Real EstateSome Interesting Facts About Cary, North Carolina
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Cary, North Carolina is a dynamic and vibrant suburban community with a stable economy and an affordable housing market for those considering buying Cary NC real estate. Cary takes its name from Samuel Fenton Cary, who was a member of Congress and prohibitionist in the 19th century. Today, Cary is home to about 125,000 residents who are divided evenly between males and females. The median age is youthful at about 33 years, 2 years younger than the state median.
Cary is an upscale town with a median household income of about $90,000 and a median house value of about 285,000, both of which are significantly higher than the median values for North Carolina as a whole. With only 3.9% of residents living in poverty, Cary is an affluent and well-established town. Over 68% of the adults in Cary hold an associate’s degree or higher. The town has one of the lowest crime rates in North Carolina and in the past has been rated as the 4th safest town out of 327 nationwide.
In 2006, Money Magazine named Cary the 5th best place to live in the U.S. Cary is full of greenways and trails that connect the town’s parks to it’s various neighborhoods, making real estate in Cary NC highly desirable. The town’s strict environmental requirements are aimed at preserving a rural, park-like character. Located in North Carolina’s vaunted Triangle area, Cary is just a short commute from major employment centers like Research Triangle Park, an enclave of high-tech companies. Nearby universities like North Carolina State University and the University of North Carolina at Chapel Hill provide a highly educated and stable workforce. For more information, click on one of the links above.
Cary Real EstateCary, NC: A Great Place to Live and Work
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The town of Cary, North Carolina is a great place to live and work. Cary is an affluent town with excellent schools and a low crime rate. In an era where many are seeking a safe and secure place to raise their children or to retire, Cary’s property crime rate of about 2% makes it very attractive. State wide, the rate is double that. The violent crime rate is even lower at 0.12% while North Carolina’s rate is 0.48%. The Cary North Carolina real estate market is vibrant and affordable.
The schools in Cary are consistently rated 5 out of 5 stars by parents. Cary is in the Wake County School District that serves about 135,000 students in grades K through 12. Education in Cary is superior, with a student-to-teacher ratio of 15 to 1. Cary public schools spend about $5000 per student and there are 14 public and private colleges and universities in the region.
Cary North Carolina real estate prices are stable. The average price of a listing is about $420,000 and the median sales price is about $300,000. This works out to about $175 per square foot. Real estate sales values in the Cary area have increased over 36% compared to the prior year. Over 5 years, the area has enjoyed a 42% increase in sales prices. The real estate market in the area is very active. Typically there are well over 1500 homes for sale in a wide variety of styles, sizes and floor plans. There are over 20 parks in Cary with more than 15 trails and greenways. For more information about real estate in Cary NC, please click on one of the links in this article.
Cary Real EstateHabitat for Humanity properties will welcome Ethiopian families soon in Cary and Apex
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About two dozen volunteers from local churches in Cary Real Estate NC came together to celebrate a construction project by the Habitat for Humanity. The project represents new homes built at a rapid pace in a town by the Habitat. Heather Taylor, associated with the Habitat for long, said that “It’s like the American dream. It’s like we’re helping them realize that dream.”
Woody Yates, the executive director of Habitat for Humanity of Wake County opined that “We’ve never had eight homes built simultaneously in Cary and especially not downtown. What’s exciting is the revitalization component of this whole phase of construction and also the energy in downtown Cary. We’re so excited to be a part of that.” Manale Dangeso and his wife, native Ethiopians will move into the Habitat for Humanity homes. It was Wageyehu Edo, a 53-year-old single mother and a friend of the couple inspired the latter. Edo believes that the couple would now live in better conditions, instead of the poor quarters which they had to share with five or 6 more people from their family. She said that “They’re living in a small apartment, and it’s really nothing. There’s no heater or air conditioner. When it’s cold, it’s cold. When it’s hot, it’s hot.” Their new home on Waldo Street will see a major transition of the lifestyle of the couple. The Habitat and the financial support from the local churches in Cary Real Estate NC will back the family at this time.
Woyesa, living in the town of Apex learnt from Edo that you could own a house if the income was low. Woyesa and her children would also move into her new home on Old Apex Road. However, Habitat officials have noted that certain financial requirements have to be met to buy homes. Nancy Jones, director of development and communications for Habitat of Wake County said that “There always seems to be confusion among people who think that Habitat is just giving houses away. That’s not at all the case. But we are bridging the gap between the cost of houses on the market and families in need.” Edo had so much faith in the efforts of Habitat that she waited almost for six years for the organization to find property in Cary Real Estate NC to construct a house.
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