I agree. I'm definitely anti-condo/apartment.

Just a shitty market right now if you can't plop down a ton of cash without any conditions.

3/29/2017 10:04:25 AM

Charlotte is nuts too. As much as i'd like to buy the market right now has me priced out of the areas i'd like to be in. And i'm just not going to get into a bidding war.

also, that house that ncsuallday linked on the last page would be a steal here at $315k. Houses that size are going for +$350. That one is a little small for me, but if i were in raleigh it'd be a great location.

3/29/2017 10:45:14 AM

To be fair, I think that house might end up going for around $350k. It was super undervalued, probably with the intention of causing a bidding war. It's not uncommon for people to go over appraisal value and pay the difference in cash since they can't get it lent. Craziness.

Meanwhile you can get a historic in downtown Wilmington for a steal. Really like that market right now.

This is walking distance to all the bars and fun stuff downtown.

https://www.zillow.com/homes/for_sale/Wilmington-NC/house_type/54300413_zpid/21320_rid/200000-400000_price/758-1516_mp/globalrelevanceex_sort/34.242663,-77.93094,34.227584,-77.954007_rect/15_zm/

I also think downtown Smithfield/Clayton will go way up once the 540 loop is complete.

look at this beauty. been on there a month - could probably get it for a lot lower. Walking distance to their downtown.

https://www.zillow.com/homes/for_sale/Smithfield-NC/house_type/69131619_zpid/27127_rid/200000-400000_price/758-1516_mp/globalrelevanceex_sort/35.512788,-78.324881,35.48309,-78.371015_rect/14_zm/

3/29/2017 11:10:41 AM

I thought Wilmington was blowing up as well? I'm a little confused as to why there are still good deals there. I'd jump on stuff there if I were you.

Just looked at the Wilmington house you posted...that's nuts. I almost spent that much just adding on to my house recently (700+ sq ft).

[Edited on March 29, 2017 at 11:20 AM. Reason : .]

3/29/2017 11:16:51 AM

Might be underwater (literally) in 20-30 years.

3/29/2017 2:29:05 PM

Hoping the 540 loop will bump my property value up in Wendell as well once its complete. I live 2 exits further down 264 so will make getting down that way a bit faster. Unless its a toll road again then I will never use it haha.

3/29/2017 2:46:52 PM

^^ That's not stopping Charleston prices from skyrocketing.

3/29/2017 2:53:46 PM

we'll just build dikes like the Netherlands

3/29/2017 3:48:08 PM

So when exactly and where exactly will 540 loop near Clayton?

3/31/2017 12:34:20 AM

the contract won't be awarded until 2020.

so 2025? plenty of time to buy up all dat prop

3/31/2017 3:20:02 PM

Quote :

"I thought Wilmington was blowing up as well? I'm a little confused as to why there are still good deals there."

You should have seen what kind of deals there were a few years ago! Things are up, just not like they are in Raleigh. The economy is much stronger in Raleigh and has been for as long as most of us have been around so it makes sense Raleigh would bounce back faster and stronger. We got out of the recession YEARS before most places.

3/31/2017 5:22:19 PM

If you folks believe Charleston or Wilmington will be underwater in the 20-25 years you need a reality check.

3/31/2017 10:14:17 PM

I want to hear more about 540 bc I'm in the dark how much faster can it really help

4/3/2017 1:42:06 AM

they picked the orange to green route:
https://www.google.com/maps/d/viewer?mid=1Ia88rEcKd0H20b0GKjBY9Mloxrk&hl=en_US&ll=35.68294988955005%2C-78.66828499999997&z=12

4/3/2017 9:27:40 AM

I live within 5 miles of that clayton portion. I figure this would help my RTP time immensely?!

4/5/2017 2:07:50 AM

http://www.starnewsonline.com/news/20170313/wilmington-area-home-sales-jump-up-again

Wilmington area "2006 levels"

4/5/2017 8:48:53 PM

Find out tomorrow if I win another foreclosure. Will close Friday if I'm the high bidder.

Wish me luck.

4/5/2017 9:46:56 PM

^Good Luck. My wife and I are actually in a multiple-offer situation for a personal home and we are going to find out tomorrow as well. Selling agent says my offer is solid but the seller is dragging their feet. Originally said response on Monday then said seller says things are moving too fast so they want to make a decision Friday. I know exactly what's going to happen he's going to Waffle again and try to make it last through the weekend

4/6/2017 10:45:04 AM

^ Hopefully that works out but if they are dragging their feet they might be waiting on some checks or initials on a change. Really the only recourse is to threaten to pull the offer which does not help if you want to stay in the running for the house.

A lot of novice list agents have not figured out that if you list the house either late Thursday or early Friday you will get your multiple offers all weekend and not have to keep everyone waiting.

The last house I listed got 11 offers in the first two days. I got my sellers to leave town for the weekend so I could have a contract for them when they returned. It was a lot easier on them than trying to stay home and accommodate over 20 showing appointments and two open houses in two days. At the second open house there was an offer being written at the kitchen table trying to get it in before the deadline!

Anyone thinking about selling do not go to the discount listing service or a new agent because they do not know how to maximize this market!!! I know how to leverage it for the best terms. It is not just the price either. The close date, non-refundable due diligence fee, repairs, financing, pretty much every pain point a seller has I can get a buyer to work around right now. .

4/6/2017 11:17:20 AM

Quote :

"A lot of novice list agents have not figured out that if you list the house either late Thursday or early Friday you will get your multiple offers all weekend and not have to keep everyone waiting."

That's just the thing. It was on the market Thursday with no showings til Saturday. Was told multiple offers were coming in, decision will be made by Noon on Monday. So we went in over asking and was aggressive with all of the other terms. Then was told at 3pm on Monday that the seller is "old school" and feels everything was moving to fast and didn't want to make a decision until this Friday. The agent told us our offer was perfect but that she just couldn't get the seller to commit.

Quote :

"Really the only recourse is to threaten to pull the offer which does not help if you want to stay in the running for the house. "

I tried this verbally, but as you said, we didn't want to just hand it over to someone else esp since the agent basically conveyed to me that our offer was the best one at this point.

4/6/2017 1:54:29 PM

Nobody upset my bid, but they declared bankruptcy yesterday, which voids my sale. Bastards.

4/6/2017 7:10:17 PM

^Sorry to hear that. What happens to the house in a situation like this if the sale is voided?

4/6/2017 10:25:43 PM

They work through bankruptcy and either work something out or this will go back to auction in 3-8 months. Sucks because I was high bidder and today was the last upset day. I get 1 out of 20 for this reason. Either a donkey comes in and bids too close to retail or the owners declare bankruptcy to buy time.

4/6/2017 11:22:48 PM

Does anyone know whats going to happen with the land formerly known as Crooked Creek Golf Club? Does anyone live out there?

4/10/2017 2:06:09 PM

It is going to be developed into a neighborhood. I'm friends with the owner of the land.

4/10/2017 2:14:49 PM

Theres a house for sale down there that I'm interested in but I'm not sure whats going to happen to the land behind it. It appears to be a fairway and the house overlooks the pond.

4/10/2017 5:39:19 PM

Driving range is going to be an elementary school

4/10/2017 5:47:07 PM

I never got to play the course. Was it any good?

4/10/2017 11:51:10 PM

Quote :

"It was on the market Thursday with no showings til Saturday. Was told multiple offers were coming in, decision will be made by Noon on Monday. So we went in over asking and was aggressive with all of the other terms. Then was told at 3pm on Monday that the seller is "old school" and feels everything was moving to fast and didn't want to make a decision until this Friday. The agent told us our offer was perfect but that she just couldn't get the seller to commit. "

See I think even that is a flawed strategy. (on them, not you)
#1) Not everyone is around on the weekends, at least start showings on Friday at lunch so people who have other things to do than just look at houses can pop by with their agent and see the house.
#2) Unless the seller is for sure willing to wait until Monday you can't very well promise to a buyer that they will wait until then to accept something. A prime case was a house I sold off Duraleigh Rd last year. I told everyone the sellers were out of town (they were) and that they would review offers on Sunday evening. Smart buyer agent sends me a clean offer $10.000 over list price. At that point we were way above what the house would reasonably appraise for. I received multiple other offers and called around and warned everyone first.....but guess which offer was signed by Saturday afternoon.

It has heated up to the point now people are making promises to pay over appraisal and/or paying cash (with a high offer) and not even doing an appraisal. I think by the end of spring appraisals will catch up to where we are now, no telling if prices will continue to push higher.

4/11/2017 9:36:52 PM

https://www.zillow.com/homedetails/211-Ashe-Ave-APT-100-Raleigh-NC-27605/6476979_zpid/?fullpage=true

These used to be like 25k to BUY. Now renting for ~$800 a month.

9/22/2017 9:30:06 AM

lol damn....things have sure changed a lot on Ashe Ave in 10 years

there were some sketch ass people outside at all times of the day/night at these apts

9/22/2017 9:36:50 AM

Yeah, I delivered pizza for gumbys many many years ago, that place was sketch as fuck whenever I had to go

9/22/2017 10:21:46 AM

To think a 20% down payment of $6000 could be getting you over $600/mo in cash flow now. CRAZY!

I tried to see recent sales and dont really see any, I bet everyone who has one is just throwing some IKEA cabinets in there in between tenants then sitting back counting their money.

9/22/2017 11:07:22 AM

I had to walk from a contract a couple of months ago because the inspection revealed so many issues. I went well over to win the bidding war but they asked me to raise my already generous DD to go under contract. I did because the house was gorgeous and seemed extremely well maintained (as much as I could tell from seeing it with many other couples present at the same time - it was on market like 8 hours). Everything underneath the house was basically fucked so I lost my DD but will likely save tens of thousands in the long run.

This market is insane. You could get a nice, renovated house ITB for like $340-$380k not even a year ago. Now those same kinds of places are more like $450-475k

Anyone care to speculate if and when the market will come back down?

9/26/2017 2:24:48 PM

The market will come down when demand is not there. Right now, home builders can't build enough houses fast enough, so it will be hot for another 2-4 years. The slow down right now is the municipalities taking too long to review plans, permits and rezoning efforts.

A year ago, Fuquay would take 3 weeks to review plans and make comments - now it is 8 weeks. It will take 16 months to get a subdivision approved when it was already zoned properly due to the town's slow moving politics.

9/27/2017 9:16:02 AM

You guys can always come all the way out to Wendell with me plenty of houses going up in Wendell Falls area at a fast pace. Eventually the commercial development will start and prices will begin to rise.

9/27/2017 9:30:51 AM

anyone know a way to secure commercial lending on residential properties? I much prefer the commercial vehicle, but I'm not sure how to use it for less than 5 units.

10/1/2017 8:21:47 PM

The house I walked from ended up selling for $12k less than my offer.

the ITB market is dry af right now and people are crazy on these prices.

how on Earth is this thing listed at $437k off of Raleigh Blvd? comps would have that thing at less than $237k.

https://www.redfin.com/NC/Raleigh/2319-Derby-Dr-27610/home/41109166

[Edited on October 19, 2017 at 11:43 AM. Reason : .]

10/19/2017 11:42:41 AM

Lol looks like a bubble forming. I know ITB gives convenience but I am happy with my choice to move outside Raleigh and get a house more than twice that size brand new for less than that.

10/19/2017 11:53:29 AM

So glad I'm not trying to buy a house right now. This market is nuts.

10/19/2017 11:55:47 AM

Wendell area is growing quickly. Traffic into Raleigh is getting worse all the time. I leave around 6AM for work now just to beat the traffic.

10/19/2017 12:09:33 PM

The change they did on the 264 exit to 540 has helped a lot with that area not getting backed up. The area from where you get onto 440 to capital is always shitty though then around wade avenue. Most of those issues are because people are morons and most people shouldn't have a drivers license.

10/19/2017 12:21:19 PM

it would take a hell of a house deal for me to deal with an hr+ commute, i don't understand how people do that

10/19/2017 12:44:06 PM

The higher price points $250-300k+ are def slowing down. All of the clients I have had under $250k are still getting or dealing with multiple offers.

[Edited on October 19, 2017 at 1:09 PM. Reason : ...]

10/19/2017 1:08:12 PM

could that just be seasonal though, don't things usually slow down a bit about now?

10/19/2017 1:15:36 PM

Market is still red hot IMO. Under $400K continues to fly off the shelf and updated homes over that price are still moving.

My flip at 404 All Saints was listed at $499,900 and I got a full price offer (only offer) within 2 weeks of bringing to the market. Close 10/31.

10/19/2017 1:33:25 PM

Quote :

"it would take a hell of a house deal for me to deal with an hr+ commute, i don't understand how people do that"

To be fair if traffic isnt bad my commute is about 25 minutes if I get outta here at 4. In the mornings its closer to 40-45 minutes with normal morning traffic. If there is a wreck involved then yes its usually an hour or more.

I live in Wendell and work near the fairgrounds.

10/19/2017 1:36:07 PM

Quote :

"it would take a hell of a house deal for me to deal with an hr+ commute, i don't understand how people do that"

this. the cost of gas consumption would easily negate your savings in mortgage cost

6 minute commute for me

10/19/2017 1:40:31 PM

Well my same house inside of town would run at least 300k more I would guess if not more. So the extra couple thousand a year in gas would take quite a while to make up that difference I would imagine haha

10/19/2017 1:47:05 PM

how much is your sanity and not having your soul crushed by traffic worth?

10/19/2017 1:50:27 PM