When people see my little name tag that reads, “Teresa Bowen, Broker / Realtor Keller Williams Cary NC”, many give me a look of sympathy and ask quietly, “how’s it going?” As any good agent should, I reply “GREAT!” But in truth, it IS great.
I was recently interviewed by Christa Gala of the News and Observer Newspaper to explain the current Raleigh area real estate market conditions and forecast. I was happy to report that home sales are up by 35% from this time last year, and inventory is down. Our foreclosure rate is only 9% which is enviable for the rest of the country.
Forecasts predict that Raleigh / Cary home prices may fall slightly this year ( 2-3%), remain even next year, then rise 3%. Read my interview below for more info:
Thinking of doing some upgrades to your home? You may want to consider the payback you will get when selling your Raleigh area home in the future. The website Remodeling Magazine explains how different areas of the country reward home sellers in varying degrees for their home improvements; in the Raleigh real estate market replacing your property’s siding from Masonite to Fiber cement will let your recoup 78% of the cost. Converting an attic to a bedroom will payback 72%, replacing your front door 73% and the beloved kitchen upgrade ($20,000 in value) may allow you to get back approx 72% your cost.
In addition to making your home nicer while you live in it, these popular upgrades will attract more buyers to your home when you are ready to sell…and your home will sell faster than those Raleigh homeowners who do not offer homes which are up to date in repairs and condition. Take a look at Remodeling Magazine‘s site to see each type of home upgrade/ update and the typical payback seen in Raleigh’s Real Estate Market.