Tickled Pink

I know you are probably thinking, "Wow, another blog already? But he just wrote one." Well I am crazy...crazy for blogging. Ok moving on, I'm looking forward to another weekend and the last wedding I will be attending this year. That is pending none of my friends elope and ask me to attend, I have never known anyone to do that. Such a free country we live in.

It's been busy around our office this week preparing for Tickled Pink. Our group gets very involved with breast cancer awareness in October, this is one local event that we are involved with here in Chapel Hill. Some agents here spent many hours this week preparing this scene out front of our office. The pink pumpkins were painted that color, otherwise I'd be winning a ribbon at the fair with one of those.

So I'm going to give a brief snapshot on how the Triangle market has fared this year so far. We have seen our sales returning from 2008 albeit at a slow pace. The average sales price has only reduced 6% Triangle wide compared with 2008. Some areas like Chapel Hill have even seen a 12% rise in sale price. These are not bad numbers given that closed sales are down over 20% on the year.

The numbers show more homeowners have decided to stay put this year, with new homes on the market down 19% over 2009. With even less inventory the homes are still averaging 14% more days on market. A continuing trend into 2009 is the lower end homes are selling much better. The high end home market has been slower and spending even more time on the market. This trend is likely caused by the tighter lending limitations on the high end and great rates and a tax credit benefiting the low end market.

The market from my perspective has been great for my buyers. My dad and I have had 5 closings in the past 20 days alone. This next few months will be a real scramble as my first time buyers rush to get under contract before the end of the month. Most of my clients have been getting FHA loans, only requiring 3.5% down at a great rate. Many of them have used Whitney Long at Carolina Home Mortgage who has prepared their loan packages in less that 30 days.

I am glad to see my favorite band Widespread Panic is making it's way into the Carolinas. It's been a while since I've seen the boys. I am debating on heading up to Portsmouth, VA this Wednesday but will 100% be at the Raleigh show next Sunday.

I've been thinking a lot of my friend Chris since he passed a few weeks ago. Some days it still doesn't feel real. It's hard to think of going to concerts and tailgates this fall with out him around. I know he is missed very much by everyone.

Hope you all have a safe & relaxing weekend. Thanks for reading my blog on your Friday, hope you get to leave work early today.