Archive for February, 2008
Providence Glen Condos
February 29th, 2008 categories: Neighborhoods, Real Estate Market, Real Estate News
The next neighborhood I have picked is Providence Glen condos. These condominiums are located of Sage Road an Old Sterling. Therefore, as you can imagine, they are convenient to everywhere you might need to go. These are pretty new condos, the final phase just recently being completed. (The units on the market now are re-sales.) Each building has 12 condos, four to a floor. You usually have a choice of two and three bedroom units. Some come with a detached garage space.
There is an elevator in each building so you don’t have to use the stairs if you don’t want the exercise. There is a great clubhouse and pool, as well as a tennis court. The chart shows the units on the market and those that have sold in the past six months. They are well priced for anyone who wants the ease of owning a condo. If you want additional information, give me a call at 919-417-9753.
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Where To For Home Prices?
February 26th, 2008 categories: Home Selling Advice, Real Estate Market, Real Estate News
A big question right now is where do home prices go from here? The national news has story after story about falling home prices. An article on Yahoo Finance, “Existing Home Sales Decline“, isn’t very optimistic for the near future. Basically, sales of existing homes fell 12.7% in 2007. That’s a national average. Some fell more, some fell less. And there are pockets that went up, too!
Prices, nationally, are expected to continue dropping until the end of 2008 or into 2009. There is a pretty good inventory of houses that need to be sold to end the downward pressure on prices.
Locally, in Chapel Hill, we do have a lot of unsold homes at this time. For the East Chapel Hill School District there is a 12 month supply of existing single family homes. However, we are lucky to have a pretty good buyer base. The universities, medical centers and RTP all provide a pretty steady supply of buyers. Plus, more people are moving INTO North Carolina, so that helps as well.
All is not doom and gloom. But it does mean if you have to sell, your house has to be a “cream puff”, the prettiest house on the block. Give me a call. I’ll help you make sure your house is the best one out there.
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Home Sales in East Chapel Hill HS district
February 25th, 2008 categories: Chapel Hill Schools, Real Estate Market, Real Estate News
This chart is a summary of the market conditions in the East Chapel Hill High School district. It represents the detached single family houses which closed from 1/25/2008 to 2/25/2008, as well as those active on the market. As you can see there are 116 detached homes shown as active on the Triangle Multiple Listing Service, up from 109 a month ago. There were only 10 homes which closed in that same period. This means an absorption rate of 10 homes per month for a 12 month supply. Of course, it would vary depending on the price of the house, but you get the idea.
For a seller this means you absolutely HAVE TO be fully committed to getting your house in show condition. You have LOTS of competition! For a buyer, it means you can be in a great negotiating position, if you have done your homework. I can help you whether you are buying or selling.
You can also see we have a very wide range of homes in our market. This sample does not include condos/townhouses. There are a WHOLE lot of those out there, as well! If you want to know more about the living opportunities in the East Chapel Hill High School district, or any other local area, give me a call. I’ll be happy to help.
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Silver Creek Neighborhood
February 19th, 2008 categories: Neighborhoods, Real Estate Market, Real Estate News
The next neighborhood I picked for some statistics is Silver Creek. It backs right up to East Chapel Hill High School. The homes in this neighborhood are truly magnificent. You need to take a ride through Silver Creek just to see the designs and landscaping of some of these homes. And if you want to work those calf muscles take a walk through the community. It is hilly! It is convenient to pretty much everywhere you would want to go!
The chart shows the number and stats of the active homes in Silver Creek as well as the houses that have closed in the past six months. Like its neighbor to the east, Springcrest, at the moment there is not a lot of activity, so don’t take the statistics too seriously. But, yes, they are high priced homes. Activity should pick up as the Spring season starts.
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Furnished Or Empty - Selling An Unoccupied House
February 13th, 2008 categories: Home Selling Advice, Real Estate News
If you have to sell a home that is unoccupied, due to death of owners, divorce, a move, whatever, one of the big questions is should you sell it with the furniture still in the house or move the furniture out? Long ago, before I got into real estate, I had agents tell me to get everything out so potential buyers could see themselves and their furniture in the house. Bad idea. After I got in the business I realized what a big mistake that was! You want the house to be furnished. If it is empty, people see an empty house. If it is well furnished, they see a home. Big difference. It is also amazing how ALL the little scratches, chips and dirt are MUCH more evident in an empty house.
A big advantage of selling an empty house is that you have the opportunity to really stage the house. A staged home can look beautiful, but it can be a pain to live in. So grab the chance and get rid of all clutter, clean like a demon, and arrange the furniture to maximize space and views. Get rid of big clunky, furniture. Set the table as if for a feast. There are lots of things to do since no-one is living in the house. Make that potential buyer see the possibilities in your home!
And don’t think you can set it and forget it. Every few days you need to go in and make sure the house still smells OK. A vacant home can get that “vacant smell”. Hard to describe, but you know it when you smell it. So open windows, change the air filters, walk around a bit and take the time to see if anything needs to be adjusted. You will be glad you did.
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The Springcrest Neighborhood
February 9th, 2008 categories: Home Buying Advice, Neighborhoods, Real Estate Market
A great aspect of living in Chapel Hill is the number and variety of neighborhoods you have the opportunity to live in. In this blog I will be showcasing various neighborhoods to help the reader learn a little bit about our area. The latest neighborhood is Springcrest. Springcrest is located on the east side of Erwin Road just north of the Sage Rd. intersection. It is convenient to everything, and is within walking distance of East Chapel Hill High School. (OK, it is a long walk, but high school kids can use the exercise.) It is just a short hop to 15-501, Duke, UNC, shopping and other area services.
The chart shows the number and stats of the active homes in Springcrest, as well as the houses that have closed in the past six months. At the moment not a lot of activity, but since it is February, that is not unusual. So, if you are looking for a nice home, convenient to everything, and in the East Chapel Hill High School district, give Springcrest a look.
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Range of Neighborhoods in East Chapel Hill High School District
February 6th, 2008 categories: Chapel Hill Schools, Neighborhoods, Real Estate Market, Relocation To Chapel Hill
I’ve mentioned before how nice it is to live in a school district that is considered one of the best in the country. It is also nice that we have a wide range of neighborhoods that allow parents in all income brackets to move into the district. The chart shows just a small sample of the many neighborhoods in the district and their average selling prices over the past six months.
Of course, there are homes well above the figures on the chart, but you get the idea. There is a home for you in the district if you want to move here, At the lower end of the price scale you will find mostly condos, then townhomes at higher prices, then single family homes, but there are some of each in every price range.
For more information on ALL the areas in the East Chapel Hill High School district hit the search button on my blog and check out the results. When you are ready to buy, give me a call.
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Why Should You Buy in The East Chapel Hill School District?
February 4th, 2008 categories: Chapel Hill Schools, Home Buying Advice, Relocation To Chapel Hill
There are many decisions that go into deciding where to buy your next home. Commute time, shopping, traffic, etc. Well, at the top of the list should be public schools. This is true even if you have no children or have your kids in private schools. Why? In a word, resale value. Odds are you are going to be in your home about seven years. When it comes time to sell, a huge percentage of buyers will be asking about the local schools. You don’t want to be in the position of having to apologize for the schools.
In the East Chapel Hill district, we don’t have to apologize. We can brag. East Chapel Hill High School (ECHHS) is consistently among the top schools in the state for academics and sports. It also consistently shows up in the top high schools in the country. This is why housing values go up when you enter the ECHHS district. As long as a school stays excellent, so will property values relative to other areas.
There is a great resource to check out any public school in North Carolina. It is called NC School Report Cards. Use it to compare schools when you are thinking of moving in NC.
So, if you are interested in buying in the East Chapel Hill High School district, give me a call. There are a wide range of prices and types of homes in the district. If you need to sell your home in the district, give me a call, too.
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