Raleigh - #1 Seller's Market - Forbes Magazine!

Hi, Vic Kaspar here. You might have seen the national press on Raleigh being determined to be among the 'best places in the US to sell a home'. Well, I would not want that destination to lead you to feel that you'd be buying a home that's overpriced in the Raleigh area.

Actually, I had a question about this a few days ago talking with a relocation buyer on the phone, and here's what I told her: Since the Raleigh area (Cary, Holly Springs, Durham, Wake Forest, Knighdale, etc) has never seen the erratic inflation of other cities...just sort of a light rain fall instead of a torrent of water, this 3 to 4% increase in value, year in and year out, has lead (in part) to a place where people want to move, because the home prices are in fact affordable. Also, being the State Capitol, Research Triangle Park, 2 hours from the mountains and the ocean, 3 major universities, all that helps!

That demand creates a good market for sellers, but not an outrageous market. Builders are still offering wonderful incentives with many free 'extras' and closing costs paid, and re-sale 'sellers' still have to compete with those builders.

All this means is that seller's homes that are 'priced right' (at appraisal and market value) will sell in less than 45 days, as opposed to some areas of the country where you have to add a 'zero' on the end of those days! If you have any questions or need any research, feel free to call me or any of my team members. We promise to give you the straight talk (919) 469-6555 . Vic

Cary / Raleigh Real Estate July 2007

Hi, this has been a very interesting summer so far for buyers and sellers in the Raleigh area. Interesting because about 100 people a day move to the greater Raleigh area, and the pace of sales has not slowed down. So you don't find 'distressed' sellers who are willing to drastically cut prices like you hear about in other areas. Which is good for everyone. For sellers, they are getting 2 to 4% appreciation per year, consistently, since the late 80s, and for buyers, they can be confident that when they buy, the market is not the kind or does not have the history of erratic price changes, and getting 'caught' in the wrong side of a price swing. My wife and I have been selling and helping people buy since 1992, and I've never seen a buyer of ours loose money when they sell. Even when selling in less than a year!

If you have any specific questions or want other info, just let me know. I'll take the time to answer or look up the research.

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