SW WAKE COUNTY MARKET UPDATE | 2018 YEAR-END
Happy New Year!
Take a look at the 2018 Market Update of our local housing inventory. We saw little or no change in the volume of homes closed in our area of the county as compared to 2017. However, average sales prices were up and average days on market were down. We are still deep in a seller’s market as most markets have less than one month supply for re-sale homes, and a two or three month supply for new construction homes. We expect another robust sales year in 2019, however we may not be seeing a real estate “frenzy” again this year, which in my opinion, is a good thing. Healthy, steady growth will be much more beneficial for all of us.
FRONT PORCH REALTY had some exciting changes in 2018. We unveiled our new logo and launched our new website featuring “Our Towns”. We have also added five new real estate agents to our team and upgraded our Holly Springs location. We Live, Eat, Play and SELL Fuquay-Varina and Holly Springs!
We will be hosting the Fuquay-Varina Chamber of Commerce Business After Hours event on February 7th at our Fuquay-Varina office, please SAVE the DATE we would love to see you there. We will be kicking off our 10 year Anniversary year-long celebration!
We are here to help you, your relatives, co-workers, employees, and neighbors. Please consider Front Porch Realty as YOUR LOCAL real estate professionals! Please LIKE us on Facebook if you haven’t already, we are always posting LOTS of local news and happenings around town!
Here is Front Porch Realty’s quarterly local real estate market snapshot. Mortgage interest rates and Triangle demographics are still causing a major shortage of homes in the Triangle as well as our end of the county. Sales prices are up a healthy 6-7 % across the Triangle with our average sales price about $300,000 and average days on market 36 days. We are still experiencing frustrated buyers in the under $300,000 price range at our end of the county with days on market being reported in hours, not days.
Check out our 2nd quarter numbers here: 
When a market is hot, finding and buying a home can feel like an uphill battle. In a seller’s market, homes go quickly. They can be on the market one day and gone the next. And on top of the challenge of finding a home, most homes (especially the desirable ones) have multiple offers, making it harder to get into the home of your dreams.
But buying a home in a hot market isn’t impossible! You just have to approach it strategically and stack the deck in your favor to find – and successfully buy – the right home for you and your family.
Here are four tips for buying a home in a hot market that will put you a step ahead of the home-buying competition: 
As I said at the beginning there is some low inventory with homes priced under $300,000.00; however, if you don’t look for a home then you surely won’t fine one, and there are homes to be found even in that price range. So what else do you need to consider in a home purchase? First, do you have enough money to buy a home?
The Price Tag…..
There are several loan programs available that will get you into a home for zero or a very low down payment with reasonable interest rates. But you will need to have some cash to cover expenses like the appraisal ($450) which is paid upfront and out-of-pocket in the home buying process. You will also need money for closing costs, which come due on the day you sign the promissory note at closing.
If you don’t have enough cash to cover the closing costs, talk to your realtor about negotiating these into the sales contract. There is an easy way to handle this scenario. Let’s say that you want to purchase a home that’s listed at $187,500.00. You would like to pay $185,000 for the house and you know that you need $5,000 to help cover closing costs. Simply ask your Realtor to write the offer to purchase for $190,000 with the seller paying $5,000 in closing costs.
Show me the Money…
But how do you know how much closing costs are going to be? And, how do you know if you earn enough money to be able to qualify for a mortgage loan to begin with? Now we come to the crux of the matter. The best way to answer these questions is to call me and start the application process. With just a little information, I can quickly see if you can be prequalified for a mortgage loan. I can also make sure that you’re taking advantage of the best loan programs available.
Home-ownership is part of the American dream; and with interest rates still at historically low levels now is a great time to explore your options. Call me today and let’s get started on getting you into the home of your dreams!
Jenny Miller
Loan Officer
NMLS: 1054076
Sierra Pacific Mortgage Company
6736 Falls of Neuse Road Suite 120
Raleigh, NC 27615
Phone: 
