WOW! This is the 2nd time in less than a week that I tried to make an appointment to show a house that just came on the market but it was already under contract! Both of them SOLD in 4 days!  I believe we are having a big housing shortage of homes around $200,000-$250,000 in Southern Wake County, especially with a Master Bedroom on the first floor!

If you are thinking of selling in this price range please give us a call, it’s a great time to make a MOVE UP while mortgage rates are still at all time lows!

Front Porch Realty attended Mayor John Byrne’s, “State of the Town” address last week held at Golden Corral.  Mayor Byrne was excited to thank all in attendance for being such a vital part of making our growing town what it is. Fuquay-Varina boasts a strong economy and a financially sound government. He announced our 32% increase in single family housing construction permits and a new 50 acre shopping center off of NC Hwy 55 and Powell Road in Fuquay-Varina,.  Mayor Byrne stated that the shopping center’s developer cited the presence of sidewalks throughout the community as a key factor influencing his choice to develop in Fuquay. 

Mayor Byrne also talked about our town youth sports program and our recently celebrated Teen Day that drew more than 1000 teens (now that is an accomplishment!), and enthused about our town’s first dog park,  sharing that the free, 8 acre park has stayed very busy entertaining doggies from Fuquay Varina and  neighboring towns.

It was great to see the breakfast room filled with fellow business owners and chamber members.  A big thanks goes to Golden Corral for opening its doors early with breakfast for us all and to Spring Arbor Assisted Living for sponsoring this F-V Chamber of Commerce event.

Fuquay Varina Chamber of Commerce

Every quarter I compile sales data and statistics from our local Triangle MLS;  its a great way for me to analyze my pricing strategies and see our whole REAL real estate picture, usually backing up what I already could feel was happening in our Southern Wake real estate market.  Always good to have quantitative data to back up what you are buzzing about!

Below is a summary of our entire area; months of inventory along with average price per square foot and average days on market are all  improving, all good indicators of our appreciating market.

Sales by CITY Q3 2013

The following link shows a more detailed look at each of our city areas and their price ranges respectively.

Market Update Q3 2013

Our “summer” season lasted longer than usual as our Southern and Western Wake county markets have continued to appreciate and rebound.  All areas have lowered their months of inventory in most of their sales price ranges and we are showing balanced and even slight seller markets for some sales prices across the region.

This is good news for sellers, and continuing  great news for buyers as mortgage rates have stayed extremely low and mortgage companies are continuing to lighten up on lending.

If you would like to receive my Quarterly Market Update personally just let me know and I will be happy to add you to our email distribution and/or to our snail mail hard copy distribution.

-Welcome Home, laura

           Wow! I just found out that our membership in the Institute for Luxury Home Marketing also gives us membership into Proxio, THE International MLS translated into 19 languages.  This gives FRONT PORCH REALTY a huge advantage to be able to market luxury homes to high net worth buyers across the globe.  Not only can we market our properties directly but we will be networking with 450,000 real estate professionals in over 115 countries!

– Welcome Home,  laura

Is  OUR Housing Market REALLY Showing Signs of Improvement?

With lots of buzz in the local and national news right now over our housing crisis showing signs of improvement;  I thought I would share what I am seeing in our local Raleigh Triangle market, including the southern and western Wake County areas of Morrisville, Cary, Apex, Holly Springs and Fuquay-Varina, NC. 

Inventory is still high, although in certain very desirable areas (closer to RTP) inventory is definitely low in all price ranges.  Other areas show lower inventory in the lower price ranges, we are even seeing multiple offers coming in on lower-end properties (<$175,000).  I am also seeing banks set their sales prices very low day one on the market, a major change over last year at this time.  As a result of their low pricing, they are moving their inventory very quickly and have streamlined their whole “market to offer” approving process.  As these distressed properties are sold quickly we also have good news, according to CoreLogic in Realtor magazine;   that the “shadow” market is also declining, in other words the number of houses not yet in the foreclosure process but heading towards it are down 10% from this time last year. 

Watch for my 1^st Quarter Market reports due out mid-April as I take an in-depth look at our local market and how we are improving in each of the Triangle, Wake County areas at every price point.

-Welcome Home, laura