TRIANGLE REAL ESTATE MARKET AND HOME PRICES FOR DECEMBER 2012

Real Estate Market and Home Prices in the Triangle NC for December 2012 

Gotta love these numbers!  All indicators were that we were starting to round the corner in 2012, and now here’s the proof that recovery is well on its way.

Fourth Quarter of 2012:

- Home sales were up 31 Percent

- Pending home sales were up 36 percent

- Inventory remains low at only 1 percent increase from 2011

Months supply:

- 7 months in 2011

- 4 months in 2012

If this number is less than 3 months, there is an undersupply.  If this number is more than 10 months, there is an oversupply.  We reached an 11 month supply number in 2011.  That was a painful time.

December median prices in the Triangle were up 2.7 percent to $190,000.  Average home prices in the Triangle increased 2.8 percent to $228,801.

Housing affordability is at 203, up 6 percent from last December.  What this means is:  if the affordability index was at 120, that would mean the median household income was 120 percent of what is necessary to qualify for the median-priced home at the current interest rates.  A higher number means greater affordability.  I hate to sound like a broken record, but this has been the best time in history to buy a home!

The 2012 Triangle housing market ended strong with sales increasing dramatically, inventory of available homes shrinking, home prices increasing steadily, demand rising, and unbelievably low interest rates which made for a record year.  This trend will continue into 2013, with a stable market not seen since 2008.

So why are you continuing to sit here and read this?  Get up & give me a call!  Credit issues – I’ve got the perfect solution for you.  Make your first action of 2013 to check your credit rating and then get it fixed so you can stop paying high rents and build your own equity through home ownership.   

Elizabeth

Elizabeth Scott, Realtor®, Broker
e-PRO, Strategic Pricing Specialist
Fathom Realty NC, LLC
Phone: 919.306.9699
TheSmartRealtorNC@gmail.com
www.Elizabeth.FathomRaleigh.com
www.TrianglePropertyLines.blogspot.com

Be Savvy…Call the Smart Realtor

SCHOOL ASSIGNMENT TIME FOR WAKE COUNTY

All the information you need on Wake County school assignments for the 2013-14 school year

Notice of school assignments for the 2013-14 school year will be distributed to students on Monday, January 7, so be sure to check your child’s backpack.

Assignments for next year allow students to “grandfather,” or stay at their current schools with their current level of transportation, unless the student has been assigned to one of our new schools, or the student is entering 6th or 9th grade. Rising 6th- and 9th-grade students have received assignments for their base schools.

Want to move to your base school for 2013-14? You must participate in the Base Declaration Period.  Base Declaration Period begins January 7 and ends on January 14.  Assignments will be sent January 21.

Students who are not currently attending their base schools may request to be assigned there during the upcoming Base Declaration Period from January 7-14. These students will have guaranteed seats at their base schools in 2013-14 unless the school has reached its maximum capacity and has been capped.

Check here to see what schools have been capped

To request assignment to a base school, parents must submit an application online between January 7-14. In order to apply online, parents must have their child’s NC WISE identification number. (Lost the number? Check with your child’s school.) Parents may also visit their base school or the student’s current school for assistance with submitting an online application.

Have a rising kindergartner? Register beginning January 7

Parents may pre-enroll their rising kindergartners beginning January 7 at their assigned base schools. To view the school assigned to their address, go here 

How to enroll:  In order to attend kindergarten, children must be 5 years old on or before August 31 of the current school year. For complete registration information and locations and a list of what to bring, go here 

For all forms needed for rising kindergartners or new students to the system, go here:

UPCOMING EVENTS:

On February 7, many elementary schools will host open houses, tours or information sessions to allow parents of rising kindergartners to learn more about their schools and enroll.
For more information, check out the school’s website. View the WCPSS School Directory 

STAY INFORMED:
Parents with rising kindergartners are strongly encouraged to sign up for WCPSS email alerts with announcements and deadlines for the enrollment process. Sign up now.

Thinking of moving?  Give me a call -- I'll be happy to help and answer all your real estate questions.

Elizabeth
Elizabeth Scott, Realtor®, Broker
e-PRO, Strategic Pricing Specialist
Fathom Realty NC, LLC
Phone: 919.306.9699
TheSmartRealtorNC@gmail.com
www.Elizabeth.FathomRaleigh.com
www.TrianglePropertyLines.blogspot.com

Be Savvy…Call the Smart Realtor

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

www.Elizabeth.FathomRaleigh.com

www.TrianglePropertyLines.blogspot.com

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

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:

HOMES FOR SALE IN THE TRIANGLE

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

http://www.apexdowntown.com/

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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

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