The Raleigh real estate market has gone through some significant changes recently, and fortunately for home sellers, Raleigh home prices have gone up during the past year. Whether you plan to purchase or sell a home in Raleigh in the near future it is a good idea that you understand the market climate.
At one point or another, many homeowners face a situation where they need to make some changes to their home- maybe it's due to the anticipation of a new baby, or perhaps your family has started a home-based business. Whatever the reason, the current home may, all of a sudden, feel stretched to the max, and is no longer a right fit for the owner. When you come to this point, you will probably need to either buy a home in Raleigh that can that can better meet your needs or you may decide to renovate your current property.
Many Raleigh home buyers want to focus on change as the New Year rolls around. You may be thinking that this year you are going to make the changes necessary in your life so that you can put yourself in the position to buy a home. To buy now, you do have to worry about stricter income requirements. That means it is time to buckle down with a few simple ways to make changes to your spending habits. You can tuck away more this year so you have a larger down payment than you realize. These tips will help.
Whether you are planning to sell a home in Raleigh, North Carolina or purchase a home it pays to stay on top of Raleigh real estate market trends. Understanding where Raleigh home prices are likely heading in the near future can tell you if you are operating in a buyer’s market or a seller’s market. Along with Raleigh home prices, other figures can also provide valuable information. For example, data relating to the amount of inventory currently available as well as the number of days homes stay on the market can tell you a lot about Raleigh real estate market trends.
Raleigh, Durham and Chapel Hill make up the three corners of the "Research Triangle," an area noted for its universities, its many technology companies, and its active food and music scene.
About Chapel Hill
Recent trends seem to indicate improvement in the Raleigh real estate market. Whether you are getting ready to start searching for Raleigh homes for sale or contemplating the idea of putting your own home up for sale, understanding these trends and how they affect Raleigh home prices will help you make the right decision. With prices rising and inventory shrinking, the market has shown signs of improvement during these past few months, and this has been good news for sellers. However, you should keep in mind that historically, the market tends to cool off during this time of year.
Despite the real estate crash that accompanied the recent national recession, real estate has long been considered a wise, and relatively safe, investment when approached using a long-term planning strategy. Although real estate, like most investments, will go through rough patches, most real estate will appreciate over the long-run. If you are considering an investment in real estate in Durham, North Carolina, you might benefit from the advantages that typically accompany investments in real estate located in a college town.
If you are considering relocating to Raleigh, you'll want to take the time to make a few wise decisions that will help the move go smoothly. From finding a qualified agent to help in your search for Raleigh real estate to choosing the right moving company, a little bit of homework now will save a lot of headache later.
Find a Buyer's Agent
Mortgage rates in the Raleigh-Durham area are on the rise, but they are still lower than before the real estate slump. You can find a 30-year, fixed rate mortgage in Raleigh for between 4.10 and 4.69 percent, provided you have a solid credit score. If trends continue as they have been, these rates will continue to increase, so this is the time to consider whether or not you are ready to begin the process of homeownership.
If you're in the market for a new home in the Raleigh-Durham area, it can be difficult to decide whether to look at existing homes or talk to a builder about new construction homes. Both have their advantages and disadvantages.
Advantages of buying a pre-owned home
Buying an existing home in Raleigh and elsewhere offers a myriad of benefits. Just a few of these are: