Key North Carolina Real Estate Trends
Posted by RealEstate_Guru
In today’s uncertain economy, the real estate market can be highly volatile. Here are some key trends that both buyers and sellers should heed when looking to buy or sell real estate in North Carolina.
Trend #1: Smaller homes. Builders and developers have seen a continuing trend toward smaller homes. More and more buyers are opting for less square footage in their homes. Smaller homes mean more affordable homes with lower monthly payments. But smaller doesn’t mean stark and utilitarian. Many buyers use the money they save on a smaller home to add significant upgrades, such as gourmet kitchens and spa-type baths, saunas and whirlpool tubs. Buyers are also attentive to energy efficiency and environmental issues, choosing smaller homes that are less expensive to heat and cool. In these cases, less really is more.
Trend #2: Integrated communities. It used to be that moving out of city centers and into suburban areas meant having to settle for a cookie-cutter home in a cookie-cutter development in a cookie-cutter suburb. These days, however, developers are taking the long view. Their focus has shifted from building homes to building communities that include residential, retail, restaurants, entertainment and shopping centers clustered together. These mixed-used developments often include a central “village green” for community events like concerts and farmers market. Offices, shops and homes blend seamlessly into a pedestrian-friendly environment with plenty of green space.
Trend #3: Internet tools. More and more buyers are finding and researching properties on the Internet. It’s thought that nearly 85% of buyers use the Internet to search for properties, funding options and information about homes for sale. More and more real estate agents and brokers are creating vibrant web sites full of tools to help buyers find the perfect property. Such sites have advanced search features, pricing information, pictures and even virtual tours. There’s also plenty of information on North Carolina cities and neighborhoods, shopping districts, schools, parks, population data, economic statistics and tax information.
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