The Freeman/Davis Home Team Blog

I was just reading where one of our real estate analysts stated that real estate is a retail business and that is a great way to look at what is currently happening in the Durham and Raleigh real estate market. It’s also where listing agents like me become part-time psychologists with our client sellers, trying to come to emotional grips with all the Durham, Triangle and Raleigh listings that sit on the market, many of which have had few if any showings over the last month.

For Triangle, North Carolina and Raleigh realtors, the last few years have not been pretty and while we did see good glimpses of real estate recovery, the good begat the bad and it has often been down right ugly. We all knew that the expiration of the home buyer incentives in April would bring a drop but predetermining activity on North Carolina homes for sale and Raleigh homes activity is much like playing the stock market; there are economic principles involved but human behavior and reaction is not predictable. In May and June of this year, we saw the low showings numbers and the fewer pending sales but were encouraged by the number of home closings in June. But just like when any retail business has a “sale”, more sales are expected and following the sale, the shoppers decline. If your home is on the market and you’re becoming frustrated at the lack of activity, picture yourself as a store in the mall and it is mid-January; the women’s clothing at Hudson Belk is still just as nice today as on Black Friday, the tools at Sears are just as heavy duty, the cosmetics at Macy’s just as fragrant and the Build-A-Bear still has a heart. Simply put, homes were no longer $8,000 off and the shoppers’ excitement has subsided. The majority of homes on the market right now are very nice homes and three great listings that I have here in the Triangle 6502 English Oaks Drive in Raleigh, 7 Peridot Place in Durham and 6729 Middleboro Drive in Raleigh, are three of the most beautiful Triangle North Carolina real estate listings on the market.

When I say “simply put,” that’s an understatement because tax credits and prices, while significant, are only a small part of the country’s economic problems; unemployment and uncertainty are key issues that only time will adequately address. While NC’s jobless figures fell in July, the news was less than encouraging; there’s even news that NC’s true unemployment rate tops 17.8 percent. The lack of both jobs and consumer confidence led to a very cool summer for Raleigh homes sales and the Triangle real estate market. While the average price of re-sales increased 7% and the overall average sales price increased 6%, area Raleigh re-sale listings increased 20% compared to this time last year and are at their highest level within the prior 4 year period; 55% of the Raleigh Durham area has an oversupply of housing. Now, add that July pending sales were down 32%, showings were down 23% and closings were down 33% and what you have is a picture of very sluggish sales.

Residential real estate often drives the economy but now, the economy is driving residential real estate. This all goes back to a blog I wrote many months ago about the role jobs play in realty. If I were to end this article now, I would be doing you a disservice because the brightest news in all that is going on now is that “homebuyers who qualify to buy can get a great buy.” With the number of homes on the market today and the lowest mortgage interest rates in decades, if you’re looking to make a real estate purchase, let’s get your home search started today.

I was just reading where one of our real estate analysts stated that real estate is a retail business, and that is a great way to look at what is currently happening in the Durham and Raleigh real estate markets. It™s also where listing agents like me become part-time psychologists with our client sellers, trying to come to emotional grips with all the Durham, Triangle and Raleigh listings that sit on the market, many of which have had few, if any, showings over the last month.

For Triangle, North Carolina and Raleigh Realtors, the last few years have not been pretty and while we did see good glimpses of real estate recovery, the good  beg at  the bad and it has often been down right ugly. We all knew that the expiration of the home buyer incentives in April would bring a drop, but predetermining activity on North Carolina homes for sale and Raleigh homes activity is much like playing the stock market; there are economic principles involved but human behavior and reaction is not predictable.

For the full story, visit my GuideMeHome2Raleigh-Durham Blog!

I just read the coolest idea, posted by a friend on my Facebook page. By the way, Facebook is a great way to stay connected with friends and acquaintances; many of my Raleigh real estate clients are online and we™re able to communicate all about the things going on in our lives and with our families. Alicia, who along with her husband Eric, found my Raleigh homes website http://www.homesearchraleigh.com/ when they were moving here from Florida a few years ago and bought a new home in Holly Springs, is having a birthday today and I saw where she had posted a Citipass coupons trade idea.

For the full story, visit my GuideMeHome2Raleigh-Durham Blog!

This is the story about how one Raleigh real estate team let™s their listings simply speak for themselves!Most real estate agents split their time between working with buyers and working with sellers. Yet today, many of us find ourselves, due to the economic swing of the real estate market, spending more time marketing our listings. With more homes on the market and fewer buyers in our cars, The Freeman/Davis Home Team with the Wolborsky Group at Allen Tate Realtors is looking at new ways to set our listings apart from the competition. One of those ways is with The  œTalking House system.

For the full story, visit my GuideMeHome2Raleigh-Durham Blog!

Today, we™re updating  Triangle real estate sales figures and answering the œhow hot will summer sales  be  in  Raleigh-Durham question. In  an earlier blog post, I reported that there were 2,083  home  closings in May for Durham, Johnston, Orange and Wake counties, up 26 percent  over the same period last year, according to the Triangle Multiple Listing Service. Well the numbers are in for July and sales, unlike the outdoor temperatures, have cooled with only 1,354 closings for the month,  which is a 35% dive over a two-month period. That™s  also down 35% from the same period last year as closings in July 2009 in the same four counties numbered  2,052.

Get my full story, Hot NONE In the Summertime…Real Estate Sales on Vacation,  online.   Find more timely statistics on Raleigh Durham and search the great Raleigh homes for sale and buyer’s market incentives on Raleigh real estate at www.HomeSearchRALEIGH.com.

It’s more value-added information from your Raleigh realtor, Rick Freeman and the Freeman/Davis Home Team.

Check out my blog post at Rick Freeman’s DayTripping Series – Mayberry, NC – It’s For Real and In Living Color.  See more things to do in Raleigh Durham and search the great Raleigh homes for sale and buyer’s market incentives on Raleigh real estate at http://www.homesearchraleigh.com/.

It’s more value-added information from your Raleigh realtor, Rick Freeman and the Freeman/Davis Home Team.

Check out my blog post at Rick Freeman’s DayTripping Series – Nascar Hall Of Fame in Charlotte.  See more things to do in Raleigh Durham and search the great Raleigh homes for sale and buyer’s market incentives on Raleigh real estate at http://www.homesearchraleigh.com/.

It’s more value-added information from your Raleigh realtor, Rick Freeman and the Freeman/Davis Home Team.

Check out my blog post at Rick Freeman’s DayTripping Series – Tax Free Weekend.  See more things to do in Raleigh Durham and search the great Raleigh homes for sale and buyer’s market incentives on Raleigh real estate at www.HomeSearchRALEIGH.com.

It’s more value-added information from your Raleigh realtor, Rick Freeman and the Freeman/Davis Home Team.

As your “Trusted Advisors,” The Freeman/Davis Home Team at Allen Tate Realtors is always on the lookout for news you can use, regardless of whether you are in the process of buying or selling a home.   You can always get up-to-date information on Raleigh homes for sale and statistics on Raleigh real estate on our website at www.HomeSearchRALEIGH.com and today, I have some additional information about homeowner’s insurance.   It’s a list of “do’s and don’ts that you’ll want to review, print and keep handy.  

For the last couple of years, I™ve been reconnecting with old friends and making new ones on both my personal Facebook page  and the Fan Page  for HomeSearchRALEIGH.com,  my Raleigh real estate website.  Seeing what™s going on with my pals has pretty much replaced the morning paper, which used to accompany my first couple cups of coffee.  This morning as I was browsing the bountiful bits of idle chatter, I immediately noticed that another friend™s curiosity had lured them into one of the numerous viruses that spread via social networks.  

A final note, if you™ve been virally victimized, don™t get sick over it; at last count, over 293,000 people have clicked the latest menacing link. Just take a dose of my advice and be careful who your friends are.