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Market Insight with Lenda
January is traditionally a month when quite a few new listings come onto the market. With the Holidays behind them, clients are beginning to list their homes in anticipation of the usual active spring market. This year so far has been a little different.
The Triangle MLS monthly indicators report shows that new listing activity in January 2011 decreased 15% in Cary, Apex, and Morrisville compared to 2010. Most homeowners in our area now realize that the market is very different this year and that it's not coming back to pre-2008 levels very quickly.
The market reality reflects what homes are actually selling for in the last 3 months. Most homes in this market are selling for less than their tax value and close to their 2004/2005 market value. There is a large inventory of both expired listings and withdrawn listings and there have been more short sales and foreclosures in the last 6 months.
Many of our Cary, Apex, and Morrisville buyers are looking at resale homes but comparing them with a "new home mentality". With plenty of new homes to choose from offering all types of special financing, upgrades, and buyer incentives, resale homeowners find it difficult to compete in the same price range.
As a seller you should prepare and price your home to compete so that a buyer will choose your home instead of a new home. The most important element in selling your home today is to choose an agent that is experienced and knows "this market" exceptionally well.
Now some good news about the current market - for the first time in two and a half years, we are seeing an increase in homes under contract in the 500 - 800k price range. In the last three weeks LG Real Estate has sold four homes in this price range. Why? The condition, location, and price have been appealing and the buyers looking in this price range are getting tired of waiting.
Are you getting tired of waiting to sell your home or buy a different home? Call us today at 919-653-2647 and we will provide you with the latest market information on your existing home or prospective new home.
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Featured LG Real Estate Listings |
100 Champions Point, Preston $699,900
What a rare opportunity in the heart of Preston! This property sits in a park like setting on 3/4 of an acre with great golf course views. Imagine this completely renovated kitchen with top of the line appliances including a 48" Wolf double oven with convection and griddle, 2 Wolf warming drawers, Wolf microwave & convection combo, SubZero refrigerator and separate built-in wine cooler, and 2 KitchenAid drawer dishwashers. Entertain in the formal dining room and 2 story family room with gas log fireplace, built-ins & decorator shelves, all complemented with a gathering room & screened-in porch. The Master bedroom is on the 1st floor with a sitting area & updated bath. Two bedrooms & bonus room are on the 2nd floor with finished storage. Security, central vacuum, under house mechanical ventilation & irrigation systems too!
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107 Delaplane, Weston Estates
$599,950 |
This lovely Weston Estates home features a study with double glass doors, an open living room, and dining room, all with warm neutral tones throughout. The well-appointed kitchen includes a large island, while the Family room has a gas log fireplace and large windows with lots of light. With all the bedrooms on the second floor, the Master enjoys a spacious sitting area and large bathroom. Also included on the 2nd floor is a Bonus and playroom combo. A three car side load garage and spacious flat backyard finish off this lovely home while enjoying a neighborhood pool. Come see!
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Cooking Tips from Matt
Matt Goulding, our son and co-author of "Cook This, Not That", offers the following in his recent book:
"Greek Yogurt is a Secret Weapon"
It's not just the huge protein boost (more than twice as much as found in conventional brands) that makes greek yogurt so great; the thick creamy texture and pronounced tang give it a versatility that other yogurts don't have. Try it in any of the following non-breakfast applications:
- As the base for a salad dressing
- As a substitute for sour cream
- Mixed with olive oil and herbs as a sauce for grilled meat and fish
- Stirred into a soup at the last second instead of cream
- Sweetened with maple syrup and poured over grilled fruit for dessert
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LG Real Estate
Please continue to think of us as a reliable resource for valuable market information and real estate expertise.
We kindly ask you to refer your friends and neighbors to us for our comprehensive real estate services. Your referral is our highest compliment, and we assure you that we will take exceptional care of them.
See you around Town,
Lenda |
