How Builders are Helping the Housing Market
Mon, 3rd January 2011
A recent survey conducted by J.D. Power and Associates asked new home buyers about their satisfaction with their builders and measured the experience of purchasers who used their builders as their lenders in 17 markets of the 24 markets covered in the larger survey. The study found that the majority of home buyers who opted to finance through their builders did so because of competitive rates. Many claimed that the process was also easier and seemed to run more smoothly, with less problems.
Additionally, a study of 50,000 buyers who had been living in their homes from 4-18 months found that there were three factors which drove satisfaction with builder mortgage originations: 1) the loan officer, 2) the closing and 3) the application/approval process. Despite the recent issues surrounding the housing market in the United States, many builders are happily reporting success in boosting sales through their partnership with lenders. By providing potential home buyers with incentives that make buying a home more affordable, especially where high home prices have become a prime factor in discouraging home buyers, prospective home buyers no longer need to wait around for interest rates to drop or their incomes to increase in order to be able to afford the home of their dreams. If you are planning on or interested in buying a home in the Raleigh area, contact Buyers Advantage Group Realty today. All of the agents at Buyers Advantage Group Realty are extremely familiar with the Triangle area as well as the home builders and can help you save valuable time and money when it comes to buying your first home.
Raleigh Real Estate Homes
Anyone who wonders why Raleigh real estate continues to sell well while other areas struggle with home sales only needs to look at all the city has to offer. Raleigh is the capitol of North Carolina and the heart of the state-conveniently located between the state's majestic mountains and sandy beaches. Forbes, MSNBC and Money Magazine have all named Raleigh as one of the top ten places to live in America. Nearly 400,000 people call Raleigh home while more than a million live in the metro area that includes Durham and Chapel Hill.
Young professionals love the city because there is never a shortage of things to do. The downtown area has vibrant nightlife. The Carolina Hurricanes are the only professional sports team to bring a championship, winning the 2006 Stanley Cup. The city is also home to several other professional sports teams. North Carolina is racing country and many businesses and attractions reflect the spirit of the sport.
Culture is not ignored in the state's capitol city. Raleigh is home to the North Carolina School of Art, one of the most prestigious art museums in America. The theatrical arts are also an important part of life in Raleigh. Not only does the city boast several theaters many movies have been filmed in the city. Large concert venues attract performances from some of music's top artists. The Raleigh Memorial Auditorium was expanded in 2001.
Families love Raleigh for its small town flavor in a metropolitan area. Homes are located on tree-lined streets. The school system has received several honors nationwide. Newsweek ranks Enloe High School as on of the top 100 in the country. The county has the largest number of home schooled children in North Carolina. The city is also home to several colleges, including North Carolina State University.
Getting around the city is easier thanks to the addition of loop 1-540. A portion is open now and the entire loop is expected to be completed in 15 years. The average commute for Raleigh residents is 22 minutes.
The city's economy has continued to thrive with major employers such as Carquest, IBM, Siemens Power Transportation and Distribution, Cisco and Martin Marietta Materials providing jobs to residents. Raleigh is part of the area known as the Research Triangle that includes Durham and Chapel Hill. This "triangle" of knowledge leads the nation in healthcare and bio-tech research.
This rich quality of life has kept the local climate vibrant as others have wanted. This is evident in the sales of Raleigh real estate. The North Carolina Association of Realtors announced in January 2010 that home sales were up 43 percent in December 2009 over the previous year. December was the seventh consecutive month that home sales had improved in Raleigh over the previous year's numbers.
Raleigh is rich in history and many neighborhoods pay homage to this history. The Hayes Barton Historic District, located northwest of the city, is one of the neighborhoods that reflect the heritage of Raleigh. The neighborhood consists of upper middle class homes. Several small parks are located in the area.
Luxury homes are located throughout the Raleigh area. From multi-million dollar mansions surrounded by acres of land to luxury condominiums located in the heart of downtown, those seeking the lifestyle of the rich and famous have many choices.
Suburban life is picture perfect with close-knit neighborhoods served by area schools. Raleigh's temperate climate allows families to frequent the area parks throughout most of the year. Many family style homes have large backyards perfect for outdoor activities.
Finding a home in Raleigh
A Raleigh realtor can help you find a new home in the area. During your first meeting with your realtor, let him or her know exactly what you want in a home including:
- The size of the home including the number of bedrooms and bathrooms. Let them know if you want a home with a fully finished basement or on a slab. Do you want a garage and how many cars should it hold? How big do the rooms need to be? Do you prefer small bedrooms with a large master suite or do you want large bedrooms for the entire family.
- The kind of neighborhood you desire. Some people love living in the hub of downtown while others prefer suburban living. If you prefer a particular part of town because it is close to where you work, tell your realtor. Raleigh has many historic neighborhoods for those who want to own a piece of history.
- Are you an outdoor enthusiast? Let our realtor know so that he or she can look for homes near parks, hiking trails and other outdoor ventures.
- Do you prefer a certain style of home? Some like a Tudor style home while others prefer colonial style residence. Raleigh has several different styles of homes you can choose including luxury mansions to cozy town homes.
- Many people want new, energy efficient homes while others prefer older, historic homes.
The more specific you are about what you want in a home, the more valuable your Raleigh realtor is to you because:
- They know the Raleigh area. This knowledge is crucial to you, especially if you are relocating to the area and are not familiar with the neighborhoods in Raleigh. Realtors research the schools, parks and other neighborhood features. How does this help you? You may have a child that excels in the arts. A realtor can tell you which neighborhoods are near schools known for their commitment to the arts. In addition, some neighborhoods once thought to be desirable may no longer be as appealing. A realtor can tell what neighborhoods are the most desirable in the Raleigh area.
- Realtors know of new subdivisions and developments. If you are not in a hurry to find a new home, you may want to consider a newly constructed residence. By choosing a home as it is being built, you can help choose some of the decor-including the colors of the carpet and walls. A realtor will be able to help you find a new home that fits your budget and your needs. This not only applies to homes but to condominiums. The downtown Raleigh area has several high rise condominiums under construction.
- Your Raleigh real estate agent has the inside tract on the hottest properties on the market. Often a great home is never placed on the MLS listings because they are snatched up quickly. Armed with the knowledge of what you are looking for in a home, your Raleigh realtor can alert you when the perfect home is on the market before everyone else knows about it.
A realtor is your partner when you are looking to purchase a Raleigh home. Do you have time to scan the MLS listings? Often you will find that by the time you call about a home you are interested in, the home is already under contract to another buyer. Working with a Raleigh realtor can get you in the home of your dreams sooner.
