NC Real Estate: Some Insider Tips For Buying a Home in Raleigh
Posted by RealEstate_Guru
If you’re looking for Raleigh NC real estate, you should know that the market in this area is very active and vibrant. At any given time there are nearly 6000 homes for sale in the greater Raleigh region. So, you’re probably wondering if there’s a way to trim that number down to a manageable list of properties that are within both your budget and your basic requirements such as location, specific features of the home and, most importantly, price.
Price is an all-important factor for home buyers. But many people fail to budget adequately when looking for real estate in Raleigh NC. Besides taxes, buyers should also consider any applicable costs such as homeowners association fees, refuse collection costs, insurance, utilities such as electric and gas service, water and sewer costs, repairs and upkeep, landscaping, cable TV service and telephone service. Buyers who fail to budget sufficiently are certain to find themselves in a financial bind soon after they close on the home.
Once you’ve set a realistic budget, you’re ready to determine how much house you can afford. Again, it’s important to have practical goals regarding the size of the house and lot and any amenities, perks or special features you’d like the house to have. Using common sense and creating a workable buying scenario will help make sure that the Raleigh real estate that you buy fits both your preferences and budget.
Town of Cary, North Carolina Facts and Figures - Part 2
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In addition to having a sound fiscal basis and strong, progressive government, the town of Cary, North Carolina offers plenty of leisure and sports-related activities. Here’s just a partial list. For full information, click here.
Cary’s Parks, Recreation and Cultural Resources Department was the first parks department in the region to receive national accreditation.
Cary’s Thomas Brooks Park is the site of USA Baseball’s National Olympic Training Center.
Cary’s WakeMed Soccer Park is home to the Carolina RailHawks, a professional soccer team in the United Soccer League. Cary also has hosted the ACC an NCAA soccer championship tournaments.
Located in the center of town, the Fred G. Bond Metro Park hosts annual community events like Easter egg hunts, kite festivals and the July 4th Olde Time Celebration.
Not forgetting its canine friends, Cary has a dog park adjacent to Godbold Park, where dogs and their owners can play and interact in a safe environment.
For the towns “crafty” residents, there’s the Lazy Daze Arts and Crafts Festival which draws an estimated 60,000 people annually, making it one of the biggest one-day events of its type in the Southeast U.S.
Cary has hosted the PONY National Fast Pitch Softball Tournament, which includes teams from as far away as Alaska.
Summer home of the North Carolina Symphony’s Summerfest concert series, Cary’s Koka Booth Amphitheater, located in Regency Park, blends well with it’s location on 14 scenic, wooded acres.
This rich and varied range of attractions and activities in Cary make it one of the most desired places to live in North Carolina. Click here to learn more about this vibrant town.
Town of Cary, North Carolina Facts and Figures - Part 1
Posted by RealEstate_Guru
If you’re looking for a great place to live in the Raleigh-Durham “Triangle” region, the town of Cary should be at the top of your list. Here’s a collection of interesting facts and figures about this vibrant and well-managed town. To find our more, click here.
Cary consistently ranks in the top 20 safest towns (out of nearly 400 in the U.S.) in Morgan Quitno’s Safest (And Most Dangerous) Cities report.
Cary’s fire department and police department have national accreditation, meaning that they adhere to a strict code of professional standards. The police department is one of only 4 accredited departments in the Triangle region.
A statewide leader in emergency medical care, Cary was the first municipality in the state to have an ambulance service with federal certification.
Cary is one of only 7 municipalities in North Carolina that hold the the highest possible credit rating from firms like Standard & Poor, Moody’s and Fitch.
A regular recipient of the Distinguished Budget Presentation award given by the Government Finance Officers Association, Cary has demonstrated the highest principles of government budgeting. The association also recognizes the town for excellence in comprehensive financial reporting.
Cary has received the Governmental Award from the North Carolina State Treasurer’s Office.
Cary is consistently named a “Best Place to Live” or “Hottest Town” in the U.S. by entities like Money magazine and Relocate-America.com.
The town’s Open Space & Historic Resources Plan has been honored with the Outstanding Planning Award from the North Carolina chapter of the American Planning Association.
Cary is the largest municipality with a traffic signal system that is totally self-funded. The system includes state-of-the-art closed circuit TV cameras that allow for proactive management of traffic flow.
Cary is a progressive town with an enlightened government. This makes Cary a great place to work and live. Click here for more information.
Morrisville NC Homes
Posted by RealEstate_Guru
Morrisville, North Carolina is located in the state’s popular Triangle region. The town has a youthful profile, with a median age of about 30 years that’s over 5 years younger than the state average. Morrisville is a prosperous town and has a rapidly increasing median household income that’s almost $20,000 higher than the state median, an increase of nearly 15% in the 7-year period between the years 2000 and 2007.
Home prices in Morrisville North Carolina neighborhoods have a median value of about $220,000, significantly higher than the state average of about $146,000. A recent Internet “snapshot” of Morrisville reported in June 2009 that there were over 180 homes for sale in the area with a median price of about $229,000. A home in the upscale neighborhoods in Morrisville NC typically has 3 to 4 bedrooms, 2 full baths, 1 half bath and about 2300 to 2500 square feet. Open floor plans are available, along with more traditional designs. Some homes feature high or vaulted ceilings and custom architectural touches like posts. Fireplaces are the rule with gas logs being preferred. Kitchens are thoroughly modern, with center islands, hardwood cabinetry and state-of-the-art appliances. Most kitchens have eating areas. Some homes in neighborhoods in Morrisville NC feature lofts and master suites with trey ceilings and walk-in closets.
If the home has a formal dining room, it’s likely to feature crown molding and chair rail. Bay windows are also popular and living rooms have fireplaces with hardwood mantles. Some living rooms open via French doors to spacious screened porches. Master suites include dual vanities in the bath, vaulted ceilings and skylights. There’s amply closet space throughout homes in this price range.
Morrisville is a great choice for discriminating buyers looking for homes with a good array of amenities.
Holly Springs, NC Homes
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Holly Springs North Carolina is a premier suburban town in the popular Raleigh-Durham region. In 2007, Holly Springs ranked #22 out of 100 towns on Money Magazine’s “100 Best Places to Live” in the U.S. Housing in Holly Springs neighborhoods is very affordable, with the average home price coming in at about $243,000. For comparison, the average home price on the “Best Places” list is nearly $360,000. When considering taxes, Holly Springs’ average is an affordable $1700 per year, while the “Best Places” average is nearly $3600.
A typical home in many of the neighborhoods in Holly Springs NC has 3 bedrooms and 2.5 baths. Square footage ranges from a cozy 1500 square feet to a spacious 2500 square feet or larger. Many of the homes are newer and most are full of amenities. Laminate wood floors are common, along with elegant foyers with wainscoting. Ceiling fans are the rule and living rooms typically have fireplaces, either wood-burning or with decorative and maintenance-free gas logs. It’s common for living rooms to open via French doors to formal dining rooms with chair rail accents. Kitchens are spacious and have plenty of designer touches, including solid wood cabinets, granite counter tops and ceramic tile. Kitchen appliances are finished with everything from classic stainless steel to dramatic black enamel and glass. Many kitchens have breakfast areas and sliding glass doors that open to large patios and fenced yards.
Master bedrooms are expansive and often feature vaulted ceilings and walk-in closets. Other bedrooms have generous closets as well. Many of these homes have desirable 2nd floor laundry rooms. Master baths feature dual vanities and garden tubs with separate showers. Bathroom skylights are common. Other amenities include hardwired Internet access and blinds throughout. Garages are often fitted with convenient shelves.
Housing in Holly Springs is an excellent value for those who want a newer home with plenty of extras and amenities that’s just minutes from shopping, entertainment venues and employment centers.
Wake Forest: A Vibrant Raleigh Suburb
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Wake Forest is located just north of Raleigh and has a population of about 25,000 people. The town was listed by Forbes Magazine as the 20th fastest growing suburb in the United States. Here’s an example: between the years 2000 and 2006, the population increased by about 73%. The median age in the area is about 33 and the median income is about $66,000. Nearly 90% of the population has completed high school or higher and 43% has a bachelor’s degree of higher. The length of a typical commute to major employment centers is about 30 minutes. The population is divided equally between males and females and 67% of the population is married. 58% of the population owns homes.
The Wake Forest real estate market is quite active. For example, in May 2009, there were over 800 existing homes for sale with a median price of about $310,000. New home prices are slightly higher at about $313,000. A typical home in the region has 3 to 4 bedrooms and 2.5 to 3.5 baths. Square footage is highly variable, but most single family homes homes average from about 2,000 to about 2,800. Prices are highly variable as well, but a home priced in the $200,000s is likely to have 3 to 4 bedrooms with a possible bonus room. Formal dining rooms are common and many have features like French doors and chair rail. Kitchens typically have an eating area and many open to a family room. Expect to find stainless steel appliances and even granite counter tops in this price range. Patios and decks are common as are master suites with vaulted ceilings and garden tubs. All these factors converge to make real estate in Wake Forest both attractive and affordable.
Fuquay Varina: A Great Place to Live
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Fuquay Varina is a rapidly growing town located just 30 miles from Raleigh, North Carolina. In recent years, the population has doubled, making this community the 26th fastest growing in the state. Fuquay Varina is just a short commute to most of the significant employment centers in the region, including Research Triangle Park. Unlike the city of Raleigh and its sprawling first-ring suburbs, Fuquay Varina still has plenty of open space for young families, professionals and retirees alike. All these factors converge to make Fuquay Varina real estate highly desirable.
The town is located in Wake County and has plenty of educational opportunities for families with children. From pre-school to nearby colleges and universities like Duke and UNC at Chapel Hill, education in the region is top-rate. The public education system is well-regarded and well-funded, making it very attractive. Fuquay Varina has maintained its small-town character while not neglecting to provide amenities, many of which are associated with larger metropolitan areas.
The population of Fuquay Varina is divided equally between males and females. Since the year 2000, the population has increased about 75% but is still under 20,000 residents. The median age is about 33 years and the median income is about $50,000, substantially higher than the North Carolina average. Median home value for real estate in Fuquay Varina is about $160,000, about $5,000 higher than the state as a whole. The median price of a single family home is somewhat higher at about $191,000.
Fuquay Varina hasn’t forgotten its roots, though. Many of the irreplaceable older homes have been lovingly preserved. The town has an attractive melange of structures from the Victorian, Craftsman and Colonial Revival periods. There are also 2 historic districts that are on the national registers of historic homes and commercial structures. There’s even a historic park that contains the town’s historic springs.
Many NC Builders Adopt Traditional Neighborhood Design Philosophy
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If you’re looking for a home in the southeast US, NC real estate in Cary is highly recomded. More and more developers and builders in this area are adopting a unique and individualized approach to community development. By using a concept known as “traditional neighborhood design,” many subdivisions in the area contain elements that keep their scale and tone approachable and integrated. In such communities, for example, the streets are designed to be walkable as well as driveable. This, along with touches like cozy front porches that harken back to an earlier time when communities were the support and strength of the residents, invites them to mix, mingle and create a unique neighborhood ambience.
Amenities in these communities are located in their centers, rather than on the periphery or near the main entrance. This accessibility encourages residents to make better use of facilities like club houses and swimming pools. Another important aspect of traditional neighborhood design is it’s emphasis on greenspace. Parks and walking trails abound in these communities, giving them a rural look and feel without sacrificing modern conveniences. While not exactly utopian, such neighborhoods have an engaging, open atmosphere that sets them apart from other developments that are clearly not so thoughtfully conceived.
This design philosophy is, in reality, a return to community building practices that worked well in earlier times. It represents a recognition that such practices can help reverse the negative aspects of over-development and urban sprawl. In this way, the developers and builders who adopt this model are creating communities that make social and environmental sense. In addition, aspects of traditional neighborhood design are becoming the law in many communities, as town planners and officials recognize the need to stem the tide of monotonous “cookie cutter” developments. This trend is one of the most positive aspects of North Carolina real estate in Cary.
Why Not Consider A Beautiful Townhouse in the Cary, NC Area?
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The state of North Carolina region is one of the most vibrant and fast-growing areas of the United States. Real estate for sale in Cary, North Carolina varies considerably depending on a number of factors such as location, number of bedrooms and price. One of the most attractive housing options in this region is the townhouse. Here’s what buyers can expect to find in real estate for sale in Cary, NC as far as townhouses are concerned.
Like other types of developments, townhouse communities are often conveniently located near major highways like I-40 and employment centers like Research Triangle Park. When considering a townhouse, be sure you investigate the area thoroughly. The ideal location will be near shopping venues, restaurants, medical facilities, schools and parks. Additional amenities such as parks, walking trails and green space are highly desirable. Some communities also have bird sanctuaries and preserved wildlife habitats.
Inside, high-end townhouses have everything a buyer would expect in luxury housing. First floor master suites are common. Interior touches can include crown molding and wainscoting. Also look for solid core doors, granite counter tops and vanities and ceramic tile in bathrooms and kitchens. Floor plans for townhouses are very flexible. You can find up 3+ bedrooms and 2.5 baths. Some floor plans include bonus rooms and lofts. Although square footage tends to be modest, the best townhouses are designed to take advantage of natural light and have plenty of storage space. Expect a 1- or 2-car garage with a door that may be embellished with raised panels. The architecture of many townhouse communities hearkens back to earlier times, so you’re likely to find touches like lanterns that give the area a charming “period” look.
Interior amenities in a luxury townhouse include hardwood floors, fireplaces with gas logs and cathedral ceilings. Name brand, premuium kitchen appliances are the rule and whirlpool tubs are common (and popular) option. Master bedrooms typically feature walk-in closets. Outside, these communities are often landscaped by prize-winning landscape architects. Prices for luxury townhouse real estate for sale in Cary, North Carolina start in the mid-200,000s.
May 14, 2009: Breaking Real Estate News - Tax Credit Can Be Used for Down Payment
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In a move that’s sure to have positive reverberations throughout the housing market, the FHA (Federal Housing Administration) is set to allow home buyers to use their $8000 tax credit toward their down payments. This is a significant change from the past rule that delayed receipt of the credit until after buyers filed their federal income tax returns.
According to Shaun Donovan, secretary of the US Department of Housing and Urban Development, the change, long supported by the National Association of Realtors, will “enable FHA consumers to access the home buyer tax credit funds when they close on their home loans.” Donovan announced the policy change at the 2009 REALTORS® Midyear Legislative Meetings & Trade Expo in Washington, DC.
Under the change, FHA-approved lenders are now permitted to monetize the tax credit with short-term bridge loans. These loans will give eligible home buyers the ability to use the funds at the time the loan closes.
There is some fine print, however. Buyers must not have owned a home in the past 3 years to be considered first time buyers under the terms of the rule. In addition, buyers who sell homes purchased under the policy will have to repay the credit if the sale occurs before 3 years have elapsed.
In order to receive the full $8000 tax credit, the value of the home has to exceed $80,000. If you’re single, the adjusted gross income on your federal tax return must be less than $75,000. The credit reduces in steps as income increases. Singles with an adjusted gross income over $95,000 are not eligible for the credit. For married couples filing a joint federal return, their adjusted gross income must be less than $150,000. Again, the credit is reduced in steps until couples who earn over $170,000 are not eligible.
This is great news for home buyers. The boost in income gained from the credit will enable many of them to afford homes they previously couldn’t.