This is what I have noticed about homes that are selling in today's market. They are selling below what the homeowner thinks is the market value, are in pristine condition, and are recently updated. Everything else is just sitting. 
 
Custom home building in the triangle has slowed down significantly. The banks are much tighter in approving financing for custom home builders. In many cases, the banks are releasing funds for a new home only when an existing home in the builder's inventory is sold. 
 
On the other hand, national builders like Toll Brothers and Pulte Homes are buying up property around the Cary area. The net effect of new home building is that for the next few years, new homes will be constant competition for resale homes. Updating your home is more important than ever to keep its value and appeal to buyers.