I'll try to catch you up on my year so far. I've been living in a one bedroom
cottage right in downtown Chapel Hill. It's the first time I've lived alone, and it's not as bad as I anticipated. I thought it may be a bit boring, but I think it actually forces me to get out a lot more. For example, last year I went to the gym maybe 3 times. So far this year I've been running & at the gym about about 3 times a week. Truth be told, my real motivation has been to hit a homerun in our co-ed softball league. Sadly, I don't think this is going to happen. Our record is 1-5, so I probably need to just try and get some base hits.2008 started quite slow for a lot of Realtors. Our market has seen good numbers in 2007 while other markets tumbled, however 2008 has started with one of the worst first quarters in over a decade.
Some way or another during this time I became busier than I have been in the past couple years. I have been listing homes here in Chapel Hill, but a large portion of buyers I have been working with are in the Wake County area. That trend along with a need for some change has led me to plan on a move to Raleigh. Don't get me wrong, I love Chapel Hill and anticipate a return in the not so distant future.There is a phrase in real estate that "If you list you last". In my opinion, right now if you list what you have is a lot of sellers getting impatient and not a lot of answers. The inventory is growing, and the number of showings & closings is lower. Our area home prices are staying strong however, increasing in many areas of the Triangle. We have an increase in job growth here, and the interest rates are low, so why aren't homes selling?
In my opinion these other markets are the factor. You bought a house in Depreciationville, FL and you are dying to move to our area, you've heard so much about it. But wait, the house you paid $525,000 for is listed at $500,000, it's been on the market 5 months and you haven't received an offer. I could list many reasons, like the fact we'll be facing $4 a gallon this summer, but home sales outside our market play a big factor. So pat your local realtor on the back for pricing homes with some sense over the years, providing our market a long history of solid but steady appreciation.
You can vote early, so please do.
In Orange County, please Vote No on the Transfer Tax. http://www.newsobserver.com/news/orange/story/1048063.html This tax would force very few to pay for the benefits of so many. It has strongly been opposed, but the City Council has an agenda of it's own I guess. I bet the guy who steals my business cards off the table at Peak Fitness will vote yes, because he obviously isn't thinking clearly (don't let me catch you guy).
Should have a new entry every couple weeks, thanks for reading.
