Have you thought about buying a home or investing in real estate? Like most people, you can postpone the purchase of real estate, because you are exposed to the economy, waiting for a package of incentives or hear a negative press.
Well, now is the right time to buy, and the housing market in the Raleigh area is doing well.
Raleigh, NC, is listed as the 6th healthiest housing market in the United States in 2009, according to a recent article in Builder Magazine. This is not surprising. The Raleigh-Durham area is constantly among the top ten cities in the United States to live and is a popular choice for relocating families.
According to an article in Builder Magazine, they analyzed the best 75 housing markets in the country. The article examines demographic trends, job growth, housing prices and the number of building permits to determine the best markets. The article notes that the healthiest housing markets have a common, including proximity to the ocean, mountains or major universities and a significant increase in housing prices. The Raleigh area has all these attractive qualities plus four seasons, a comfortable climate, an affordable cost of living, a research triangular park (RTP) and much more.
The US Census Bureau announced the Raleigh Carey area as one of the fastest growing metropolitan areas from 2007 to 2008. From July 2007 to July 2008, the Raleigh metro area was 4.8%, and most of these people had not yet reached home buying. In addition, Forbes recently rated Raleigh as the number one in the US for employment growth.
The Triangle housing market is more stable and resilient than the rest of the country. The houses here have not depreciated. According to the Triangle Area Residential Property Report (TARR), homes in the Triangle estimate from 2 to 4 percent. American homes on average depreciate at 8.2 percent.
Within a short period of time, many homes are sold at their highest value. For example, a recent search for homes for the family house North Raleigh on the MLS in the range of 275 thousand dollars. Up to 325 thousand dollars. The United States allowed only 73 homes on the market, with a median of 54 days on the market. This does not qualify as an excess supply in our market. This is also an indicator of why the majority of our market areas were estimated in the last 12 months, and not depreciated, since most of the nation has.
However, if you are patient, you can find a deal and not steal it. Much of what is now on the market is currently on the market mainly because the initial asking price was too high. They begin to fall in price.
Interest rates are the lowest, they were 37 years old. If you wait, you can get a lower price on a house, you can lose in the long run if the rates go up. Regardless of if any, the savings in the selling price you might receive will be outweighed by the higher interest rate, compounded by more than 30 years of credit.
When the market begins to move to the market of sellers, it will happen quickly. Listings that are properly priced and in excellent condition will be sold immediately upon entry into the market.
Now is the right time to start shopping at home. Talk to a real estate agent about the available ads in the Raleigh area. Contact your credit broker to take advantage of low rates.
