Tuesday, December 18, 2012

THE TRIANGLE EXPRESSWAY-PHASE III OPENS THIS WEEK!


The Triangle Expressway – Phase III Opens this Week.  Helpful information and status on the next leg can be found right here.

Phase III of the Triangle Expressway from U.S. 64 in Apex to the N.C. 55 Bypass in Holly Springs will open Thursday, Dec. 20 at 6 a.m.  This section, called the Western Wake Freeway, is part of the Triangle Expressway (also called Route 540). 

While the road will be open to traffic, tolling on the gantries (the electronic devices that capture your license plate and/or transponder information) from U.S. 64 to N.C. 55 will not begin until Jan. 2, 2013. These gantries are located at Old U.S. 1/Salem Street, U.S. 1 and N.C. 55 Bypass.   For more information on where to get the transponders, click here:  https://www.myncquickpass.com/en/home/index.shtml

“We are proud to have completed the road ahead of schedule,” said Turnpike Authority Director David Joyner. “These three new tolling gantries will not be fully operational until Jan. 2, 2013, but the road is ready so we encourage motorists to begin using it.”

The Triangle Expressway is a toll road and all motorists are reminded that the gantries on the first two sections are fully operational. Anyone who uses the first two sections of the road will be charged either via mail or NC Quick Pass account.  For info on toll cost & other FAQ, click here:  http://www.westernwakeinfo.com/frequently_asked_questions.html

For information about the Western Wake Freeway project -- a section of the Triangle Expressway, North Carolina's first modern toll road—visit www.westernwakeinfo.com.  If you need to contact the Turnpike Authority, you can reach them at: 

NORTH CAROLINA TURNPIKE AUTHORITY
1578 MAIL SERVICE CENTER, RALEIGH, N.C.  27699-1578
TELEPHONE: 919-571-3000    FAX:  919-571-3015

NCDOT reminds motorists to watch signs for construction information, stay alert and obey the posted speed limit.

For real-time travel information at any time, call 511, visit www.ncdot.gov/travel or follow NCDOT on Twitter. Another option is NCDOT Mobile, a phone-friendly version of the NCDOT website. To access it, type “m.ncdot.gov” into the browser of your smartphone. Then, bookmark it to save for future reference. NCDOT Mobile is compatible with the iPhone, Android and some newer Blackberry phones.

 Source:  NC Department of Transportation


Plans are still being hotly debated on which route will be used to complete the Triangle Expressway.  This section, called the Southeast Section, would connect Holly Springs to the road’s beginning in Knightdale, thus creating an “outer loop” connecting the suburbs to RTP, Raleigh, and each other.

As I’m sure you’ve been hearing, the Federal Government has withdrawn funding for this portion as they want to use the “red” route which Garner town officials oppose as it would cut through the center of town.  I'll keep you posted with updates on outcomes and any decisions.  Here's an overview of the area under study:

This new road will have an effect on the value of your home.  If it is nearby, your home value may increase; if it is right in your backyard (or worse, eminent domain is put in effect) your home value may decrease.  You need a knowledgeable and caring real estate expert to make sure you have all the facts  you need to make an informed decision.

Have questions?  Let me know and I’ll do my best to get you the right answer: 


MERRY CHRISTMAS!
Elizabeth Scott, Realtor®, Broker
e-PRO, Strategic Pricing Specialist
Fathom Realty NC, LLC
Phone: 919.306.9699
TheSmartRealtorNC@gmail.com







Thursday, December 13, 2012

Homes Sales for November in the Triangle, NC

HOME SALES IN APEX, CARY, HOLLY SPRINGS, FUQUAY-VARINA, RALEIGH AND ALL OVER THE TRIANGLE, NC.

This November, there was a lot to be thankful for.

Home buyers were thankful for historically low mortgage rates and still-affordable prices. Sellers were thankful for increased sales, less competition and faster market times. Both parties can be thankful for the slow yet steady economic recovery.

Challenges persist, to be sure, going into 2013, but there's more reason for optimism than pessimism. Here's the scoop on home sales in our area:

   - Pending Sales Increased 24 percent to 1,833
   - New Listings Decreased 3.6 percent to 2,221
   - Inventory levels Decreased 22.9 percent to 11,887
Prices are up!
   - Median Sales Price Increased 6.5 percent to $197,574
   - Days on Market are down (again!) 12.1 percent to 114 days
   - Absorption rates improved:  Months Supply of Inventory was down 35.1 percent to 6.1 months.

 Here's what we need in order to continue our upward trend in the coming months and year ahead:
  - Better market conditions (eg, higher demand and lower supply)
  - Improved market composition (eg, lower numbers of distressed properties)
  - Jobs!  More hiring and less unemployment

On a personal note, I have much to be very grateful for.  I love helping my clients buy and sell their homes.  I love how they let me into their lives and their happiness is my happiness.  Things are much more stable now and this dream is still possible for those who are willing to work and qualify for it.  I have wonderful resources, including a credit repair specialist who can help you get in fiscal shape for 2013 for a very reasonable rate.

Ready to buy?  Ready to sell?  Things are getting busy -- call me soon!

Be Savvy...Call the Smart Realtor
Search for Homes Now


Elizabeth Scott, Realtor®, Broker
e-PRO, Strategic Pricing Specialist
The Smart RealtorFathom Realty NC, LLC
Phone: 919.306.9699

TheSmartRealtorNC@gmail.com

Wednesday, November 28, 2012

HOME SALES FOR OCTOBER 2012 IN THE TRIANGLE, NC

HOMES SALES IN APEX, CARY, HOLLY SPRINGS, FUQUAY-VARINA, RALEIGH AND ALL OVER THE TRIANGLE NC

Plus --  Interest Rates are falling...again!



Homes sales in the Triangle NC increased in October by a whopping 32 percent!  The Triangle has recorded double-digit increases in sales in each of the first three quarters of 2012

And, the extremely favorable mortgage rates sank even lower this week, setting records for both the 30-year and 15-year fixed rate loans.  The 30-year fell to 3.31% from 3.34 percent last week and the 15-year rate averaged 2.63 percent compared with 2.65 percent a week ago.  (Source:  CNNMoney)

Let’s break down the numbers:

Pending Sales:                34 percent
Showings:                      ↑ 16 percent
Avg Days on Market:     114 (down from 123 in October, 2011)
Average Sales Price:       ↑ 3 percent to $233,800
Homes for Sale:             ↓ 20 percent to 8,474 and down 35 percent from one year ago
Months Supply:              5 months
ATTENTION:  We are now in a Sellers Market – expect prices to continue to increase, competition to heat up, and multiple offer situations.
(Source:  Triangle Multiple Listing Service)

Summary:  A dwindling supply of available homes is creating an increasingly favorable environment for sellers and is resulting in increasing prices.  The decrease in new construction plus pent-up demand is consuming the existing inventory.  October is traditionally a time when we see a drop in the number of people looking to buy – this has not been the case this year.  I have more buyer and selling clients than ever!  Tired of paying ever-increasing rents, folks have repaired their credit & realize you can get more house for less money than they are paying in rent. 

Moving, Relocating, Searching for a Home in the Triangle, NC?  Take a look at some of the fantastic bargains still available:

PS:  This Friday, 11/30 the tree will be lit in Historic Downtown Apex.  Be sure to stop by, grab a hot coffee or cocoa at Common Grounds Coffee, see the most magnificent horses & go for a sleigh ride, smile at your neighbors & meet the Big Man, ‘cause Santa is Coming to Town!
For more info on Downtown Apex Activities
Be Savvy...Call the Smart Realtor



1

Friday, November 23, 2012

SPEND SMALL BUSINESS SATURDAY IN APEX NC


Spend Small Business Saturday in Historic Downtown Apex, NC



This Saturday, November 24 is Shop Small Business Saturday.  After swarming the big box stores for stuff made in China and elsewhere, why not slow down and spend a day strolling and shopping in your local downtown?   Support local craftsmen, farmers, eateries, and enjoy our beautiful NC weather.   I can’t think of any downtown more charming than Historic Downtown Apex, NC!

Downtown Apex has something for everyone -- antique and specialty shops, a local farm stand, award-winning restaurants, a wonderful coffee shop and all the charm and beauty of turn-of-the century buildings with original woodwork and facades.

So park that car, get a cup of coffee or fresh hot cocoa at Common Grounds and stroll the streets to complete your shopping list with unique items that you can feel good about giving!  Set a spell on one of the many benches and say howdy to your neighbors.  I guarantee you’ll feel the holiday spirit!

For more info:
Triangle Localista
Shops of Downtown Apex

Thinking of moving to Apex or anywhere in the Triangle?  Check out the wonderful variety of available homes here:
Homes for Sale in the Triangle, NC

Wednesday, October 31, 2012

WHERE CAN I GET INFO ON VOTING HERE IN THE TRIANGLE?

Right Here!  Here are handy resources on what & who is on the ballot.  Totally non-partisan – I promise!

Unless you’ve been living under a rock*, no doubt you’ve been receiving many calls from all parties telling you to vote for, or against, one or the other candidate.  Not to mention all the TV ads (well, OK, I mentioned them).  I’m not going to stir that boiling pot by making any endorsements.  Here are some easy links that will give you lots of great info on who’s running, where to go to vote, and what are the issues.

For info on the candidates & their positions, check out this very handy, non-partisan site.  There are a LOT of positions & candidates from which to choose.  This helps to sort it out:
http://ncvoterguide.org/

Here’s something really handy – build your own ballot here to see the candidates & issues on which you need to vote:
http://c3.thevoterguide.org/v/nccve12/index.do

To find out where your voting location is, go here:
http://www.ncsbe.gov/PrecinctFinder.aspx

Ready to vote now?  Here are the early Voting Sites:
http://www.wakegov.com/elections/info/early/Pages/default.aspx

In addition to voting for these positions, there are several Bonds on the Ballot for Cary, Morrisville & Wake Tech.  I’m sure there are many more in your area, contact your local board to find out what’s on the ballot for your area.

Get on out there & vote, your voice does count!

Bad politicians are sent to Washington by good people who don’t vote. 
 - William E Simon

* In case you have been living under a rock, let me help you find a great home!

Be Savvy...Call The Smart Realtor
Homes for Sale in Our Area

Tuesday, October 23, 2012

Real Estate Market for Q3, 2012 in the Triangle, NC

2012 Third Quarter Triangle Real Estate Summary

The numbers are out.  I've got the explanation and breakdown for you right here...

Interest rates
The national average for the following products comparing September 2012 with September 2011 are as follows;
       ·        15 year fixed rate mortgage is 3% v 3.6%
       ·        30 year fixed rate mortgage is 3.8% v 4.4%
       ·        1 year ARM is 2.98% v 3.2%.
 
  Ã˜   Why this is important:  WOW!  Can you believe it??  There is no plac for them to go but up!


Jobs
Based upon August 2012 figures released by the Employment Security Commission of North Carolina, the combined workforce in the Durham and Raleigh/Cary Metropolitan Statistical Area (MSA) was 846,108. This was a 3.6% increase from the workforce seen at the end of August 2011. The unemployment rate in the MSA decreased to 7.9% from 9.1%.

Ø  Why this is important:  Without job security, people are not confident to leave a rental or other living situation (Mom’s basement??) and purchase a home


Home Inventory
·        There were 8,825 active listings at quarter’s end within the four main counties – Durham, Johnson, Orange, Wake. This was a decrease of 21% compared to 3Q/11 inventory levels.   Translation:  homes on the market have sold!
·        New home inventory decreased 23% and re-sale inventory decreased 20%. Translation:  less homes on the market competing for buyers means prices may increase.
·        There were 7,389 new listings entered into the system during the quarter. This was a 7% increase compared to new listings entered into the system during 3Q/11. Translation:  sellers have more confidence in the market
·        Listings where the status was changed from active to withdrawn decreased by 26%  Translation:  Sellers withdraw properties that don’t sell.  Less withdrawals means more homes have sold.
·        Listings where the status was changed from active to expired decreased by 36%.  Translation:  Sellers allow their properties to expire because it has not sold & they have lost confidence.  Less expired properties demonstrates more confidence.

Ø  Why this is important:  Keeping an eye on the inventory of available homes and their history gives an accurate view into the true status of the residential home market.

Distressed Inventory
·        Listings that were marked with a category related to financial issues (eg, short sale, foreclosure) accounted for 9% of quarter end inventory, the same as seen at quarter end, 2011.
·        The total number of distressed listings on the market decreased 20% compared to those on the market at the end of 3Q/11

Ø  Why this is important:  The glut of foreclosures that the naysayers said would happen (and I accurately predicted would NOT happen in my blog) are non-existent.  While some sellers are still struggling, these homes are selling and numbers are going down.

Home Showings
There were 164,681 showings during the quarter. This was a 12% increase compared to 3Q/11 showings.

Ø  Why this is important:  Folks are out looking & buying!

Pending Sales
·        There were 5,453 listings during the quarter with a status changed to pending. This was an increase of 24% compared to 3Q/11.  Translation:  Active to pending status indicates an offer has been received & is in the initial review and due diligence phase.
·        There were 2,949 listings with a status change to contingent. This was an increase of 34% compared to 3Q/11.  Translation:  Active to contingent status indicates that most of the seller’s and buyer’s requirements have been met and there is a very good chance the home will close.
·        More listings are going from active to contingent to closed and not using the pending status. Translation:  in most cases the buyer is very well qualified (possibly cash) and both are confident home will close.
·        Total pending and contingent listings were up 27% compared to 3Q/11.  Translation:  Buyers are more confident of the ability to purchase and lenders are becoming more responsive

Ø  Why this is important:  Buyers are buying and sellers have a good understanding of current home market values

Closed Sales
·        There were 5,559 closed sales within the four county market during the quarter. This was an increase of 24% compared to 3Q/11.
·        Financial concessions were paid in 54% of closed transactions and 16% of the closings were financed as cash.
·        The average days on market (LADOM) was 111, compared to 126 during 3Q/11.
·        The average sales price during the quarter was $239,000, a 1% increase compared to the average in 3Q/11.
·        The average sales price of a re-sale was $227,000, an increase of 2% compared to 3Q/11.

Ø  Why this is important:  Sales are up, prices are up, homes are selling more quickly, and more sellers are offering some sort of financial or other concession to buyers.

Months of Supply
The current supply of all housing within the four main counties based upon third quarter closings is 5 months, a decrease from the 7 month supply at the end of 3Q/11. 12% of price brackets analyzed had an under supply of housing and 31% had an over supply.

Ø  Why this is important:  Because, come on now…. You all remember I said that a balanced market typically means a 6 month supply of homes, right?  As we are now down to a 5 month supply, this indicates that we are starting to move toward a buyer’s market.  Sellers beware!

Sales to Original List Price
Homes that were priced correctly sold at 97% of asking price and within 63 days.  Homes that were overpriced sold for an average of 89% of original price and took 179 days to sell.

Ø  Why this is important:  Price your home correctly or be prepared for disappointment in your final price.  Also, it will take almost 3 times longer to sell!  Ouch!

Is now the right time for you to move or relocate to Apex, Cary, Raleigh, Holly Springs, Fuquay Varina, or anywhere in our lovely Triangle, North Carolina area?  Give me a call and let's find out!
Search for Homes Here
Be Savvy... Call the Smart Realtor


Source:  Triangle Multiple Listing Service

Wednesday, October 10, 2012

TIME FOR FALL FUN & PUMPKIN PICKING IN THE TRIANGLE, NC AREA!

Autumn is here in the Triangle!  Have a fun day outside in the fresh air with your family & find that perfect pumpkin.  Enjoy some apple cider & be spooked by a haunted hayride. 

Whether you do your pumpkin carving in Apex, Cary, Raleigh, Holly Springs, Fuquay Varina or anywhere else in our lovely Triangle NC area, here's a list that you'll find helpful.  You’ll also be supporting our local farmers, so it’s a good thing all around.



Read to the end to see how you can win a FREE gift card!

DJs Berry Patch
1223 Salem Church Road
Apex, NC
919-600-4020
www.info@DJsBerryPatch.com

Green Acres Farm
1132 Morrisville Carpenter Road
Cary, NC
919-481-2435
www.greenacrescary.com
 

Green Level Gourd Farm
3800 Green Level Road West
Apex, NC
919-387-1952
www.greenlevelgourdfarm.com


 Ken’s Korny Corn Maze
3175 Benson Highway
Garner, NC
919-779-4765
www.kenskornycornmaze.com


The Maze at Hector’s Creek
175 Old Mill Road
Fuquay Varina, NC
919-552-0823
www.themazeathectorscreek


Phillips Farms
6701 Good Hope Church Road
Cary, NC
www.phillipsfarmsofcary.com


What is your favorite pumpkin style? 
  •  Cute & cuddly?
  • Ghoulish & scary?
  • Trendy & modern?
  • Traditional?

Send your answer & Sign Up to receive my monthly newsletter: 
And you will entered in a drawing to win a FREE $10 gift card to Common Grounds Coffee Shop



Be Savvy...Call the Smart Realtor
Thinking of moving to the Triangle, NC Area?
Visit my website or give me a call!
I'll be happy to give you all the information
you need to make your relocation smooth &
worry-free.

More Information on Homes in the Triangle

Monday, October 1, 2012

VISIT THE TRIANGLE’S LARGEST OPEN HOUSE

Over 200 new homes will be featured on the 2012 Parade of Homes Tour

The 47th Annual Parade of Homes, N.C.’s largest open house presented by the Home Builders Association of Raleigh–Wake County, will run Oct. 5-7, and 12-14 from 12-5 p.m. and showcase the most up-to-date design trends in new homes. Over 200 homes will be on tour throughout the Triangle for this annual, free tour that is open to the public.

Aside from having the latest in home appliances and convenience, the tour will showcase unique indoor as well as outdoor living spaces. One of the green homes on the tour this Fall has reclaimed building materials from the bottom of the Cape Fear River in Wilmington.

Parade homes will be judged prior to the first open house weekend and winners will be announced on Wednesday, October 10, after the Awards Gala that is held the night before. Prizes will be awarded for Gold, Silver and Bronze Awards for the first, second and third places.

This year, the parade features 197 homes in Wake County, 2 in Durham and 2 in Chapel Hill, with homes styles that include single family, townhomes and condos. Specifically there will be 21 homes in Apex, 30 homes in Cary, 14 homes in Fuquay-Varina, 3 homes in Garner, 21 homes in Holly Springs, 7 homes in Knightdale, 2 homes in Morrisville, 48 homes in Raleigh, 6 homes in Rolesville, 41 homes in Wake Forest, 1 home in Wendell, 2 in Willow Spring, and 1 home in Zebulon. Homes on tour range in price from $157,700 - $2.5 million.

Vote for your favorite Parade home by emailing me at:  TheSmartRealtorNC@gmail.com and you will be entered to win a FREE gift card!

Want to see one of these beauties?  Give me a call:  919-306-9699. 

This is the best time in history to buy a home!  Just remember – the representative you meet at the home does NOT work for you --  they represent the seller – so be careful about any financial or other confidential information you share.  New construction is wonderful, but you need an advocate on your side to be sure you understand it all.

See the homes here:  http://www.paradeofhomeswake.com/

Be Savvy...Call the Smart Realtor