Category Archives: Real estate

Cary & Surrounding Area: AFFORDABILITY

Home Affordability in Cary & Surrounding Area Hits 26.9% This Particular Week

 Home affordability is listed at 26.9% in Cary & Surrounding Area, according to the latest housing data provided by HouseCanary.

Home prices, mortgage rates and household income are important factors in determining the affordability of a home. The Affordability Index measures median household income relative to the income needed to purchase a median-priced house. This week for Cary & Surrounding Area, the data show a household earning the median income here of $62,794 would need to spend 26.9% of their income to afford a median priced home here, which is currently priced at $270,143. The two-year Affordability Index is forecast to be 31.7%.

This predictive analytics report and e-newsletter is part of a new collaboration between HouseCanary and RISMedia in an effort to bring real estate professionals timely and local housing data in thousands of regional and local markets across the U.S. as well as provide RISMedia’s real estate news, information and business development insights of interest to brokers, agents, service providers and professionals serving the U.S. residential real estate industry.

Property lookup: What is the risk of home values decreasing in your area in the next year? Enter a property street address followed by the zip code to find out:

 

Call us about this beautiful Cary home for sale!

http://www.tourfactory.com/idxr1692304

Welcome to luxury living in the heart of Cary! This wonderful home is barely lived in and ready for your personal touches. Completed in 2016 with numerous upgrades, this Edinburgh II floor plan is the same as the popular model ..and no longer available!

Entertaining is a delight in a kitchen that is made for parties with stylish white cabinets, expansive quartz counters and upscale stainless steel appliances. Lovely hardwood floors throughout. With open flow to the living and dining areas, this home is perfect for todays lifestyles.
Enjoy your morning coffee at the breakfast bar seating, or move easily outside to the screen porch to enjoy the wooded view and the double-sided fireplace.
The main floor master retreat features a trey ceiling, hardwood flooring, recessed lighting and plantation shutters. Also a large double vanity with ample storage and the oversize shower, plus a spacious walk-in closet. The laundry room has great storage space and a sink.
Upstairs find two bedrooms plus a spacious bonus room. There is also a huge walk-in attic for loads of extra storage.

This home is better than new with interior shutters and blinds installed. Regency offers easy access to walking trails and other recreational opportunities, as well as nearby shopping and restaurants. Walk to Lifetime Fitness or Koka Booth Amphitheater! Enjoy the good life with landscaping and exterior maintenance covered by the HOA. Welcome Home!

Sellers’ Market: Triangle home sales up 27 percent in November

Much to the surprise of the Triangle housing market, home sales in November were up nearly 27 percent over last year – buoyed in part, some say, by both optimism for the U.S. economy going into 2017 and fear that interest rates will be rising.

That second part came true Thursday when the Federal Reserve voted to raise its benchmark short-term interest rate for the first time in a year, which will in turn likely increase interest rates for home mortgages.

In November, the Triangle market recorded 2,721 home sales across the 16-county region of Triangle Multiple Listing Service. That number was down 8 percent from October’s sales, but its typical for sales to slow in November, December and January.

But the 26.7 percent increase in November 2016 sales over November the year prior was the biggest monthly year-over-year increase since summer 2013 when the Triangle housing market was officially just heading into strong recovery mode from the 2008 recession.

Lewis Grubbs, senior vice president at Coldwell Banker Advantage in Raleigh, says they started to see a shortage of inventory in the fourth quarter last year, but while inventory was tight in certain price points, they were still selling homes.  “I have sat through several forums that have dissected the election results from both sides of the isle and do believe that the November numbers may reflect a positive change in consumer confidence,” he says. “People have a sense that the economy will strengthen and provide more and better jobs. This may be the result of what is seen as potential regulatory reforms being more business and industry ‘friendly.’”

The region’s average days on market also dropped to 45 days from 59 days the year prior, reflecting, Grubbs says, the willingness of buyers to make decisions faster. “And perhaps pay more, for fear of losing the home to a competitive offer,” he says. “Combine these things with the rumblings of the Fed increasing the interest rate before year end, has produced good results for November sales.”

Year-to-date home sales for the Triangle were up 10.6 percent, and the average sales price is up 5.5 percent. The Triangle market had about 2.7 months supply of inventory available at the end of November.

by: Amanda Hoyle, Triangle Business Journal