CaryRealEstate.com | Cary NC | Local Specialist for Cary Real Estate
Cary’s Top Selling Neighborhoods – January 2010
The Cary Real Estate Market had almost 100 homes go under contract in January – Which neighborhoods sold the most homes?
1. Greystone: 7 Homes Under Contract in January
1. StoneWater: 7 Homes Under Contract in January
3. Harmony: 5 Homes Under Contract in January
What do these neighborhoods have in common? All in West Cary – Priced between $200,000 and $600,000 – All New Construction! That’s right 18 of the 19 home sales in these 3 neighborhoods were new construction! So while the number of homes being built and sold are down from 2006 record numbers, new construction is still alive in Cary North Carolina! Almost 1 out of every 2 homes that went under contract in January was New Construction!!!
More About the 3 Neighborhoods:
Greystone is built by M/I Homes. Price Range: 300k – 500k. Average Price: 360k.
Search Greystone Homes For Sale
StoneWater is built by Lennar. Price Range: 200k – 450k. Average Price: 315k
Search Stonewater Homes For Sale
Harmony is built by Pulte. Price Range: 300k-550k. Average Price 375k
Search Harmony Homes For Sale
Cary Real Estate Market Report – January 2010
The Cary Real Estate Market in January showed definite signs of improvement from a stabilization standpoint. Compared to this time last year, the number of homes for sale are down while the number of home sales and closings are up. The average sales price is down roughly $20,000.
Total # Cary Homes For Sale as of January 31, 2010: 739
Cary Homes For Sale at the end of January past 5 years
Number of New Listings – Cary Homes For Sale – January 2010: 244
New Listings in January of Cary Homes For Sale Previous 5 Years
Cary Homes For Sale that went Under Contract – January 2010: 94
Number of Homes Under Contract in January Past 5 Years
Closed Cary Home Sales Report – January 2010: 71 Homes Closed
Cary January Closings Data Compared to Previous 5 years
Curious what we mean by Cary Home Sales and where our data comes from?
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
American Tobacco Trail – Cary – White Oak Park Access
What is the American Tobacco Trail?
It’s 22 miles of trails running from Cary to Durham – the trails are built over an old abandoned rail road track that dates back to the early 1900’s. The American Tobacco Trail’s almost perfectly flat – which makes sense when you think of it being where a railroad track used to be – along the trail you will find yourself in tunnels, under highways & on bridges.
The trail is open to walking / running / hiking / bicycle riding and horse back.
One of the American Tobacco Trail public access points is in Cary – on White Oak Church Road – this site which is right around the corner from Cary’s upscale Copperleaf Community, has restrooms and ample parking. If you haven’t explored the American Tobacco Trail you’re missing out – it’s incredible to think you can start out in Cary and ride your bike 20 plus miles and end up at the Durham Bulls Athletic Park! A special thank you to the Triangle Rails to Trails Conservatory Organization for their hard work making this dream become a reality – we are truly blessed here in the Cary area with the wonderful parks & trails!
View American Tobacco Trail / White Oak Park on Google Map
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
FHA Changes-Impact on Cary Homes For Sale
David Williams (L) w/ FHA Commissioner David Stevens
Back in December I blogged about possible upcoming changes to FHA loan requirements – well it’s arrived – The FHA recently announced major changes to their requirements for buyers/borrowers. These increased standards could reduce the number of buyers that qualify to purchase Cary Homes For Sale. The changes are aimed at shoring up the FHA’s long term stability – which I think is definitely positive in the big picture/long term - it’s the individual buyers and sellers on a local level, like right here in Cary that will see and feel the impact – anytime the requirements become stricter for securing home loans the available buyer pool is reduced. However one of the major contributors to the recent housing market downturn was buyers purchasing too early or too high. The current FHA commissioner David Stevens is from the real estate industry, having worked on both the mortgage side and brokerage side – I believe he brings a common sense mindset to the FHA restructure.
FHA’s Changes to Borrower Requirements
- The upfront fee charged for the mortgage insurance premium (MIP) will be raised to 2.25%
- The Seller contribution (closing costs etc) is reduced to 3% instead of previous 6%
- To Qualify for a 3.5 % minimum down-payment requires credit score of 580 or higher
- Less than 580 Credit Score will require 10% or more down payment
- Several new lender requirements aimed at protecting the borrower
Like to read detailed FHA policy? FHA Commissioner David Stevens recently wrote an article covering the FHA changes.
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
Cary NC Homes For Sale: 2009 Average Days on Market Report
Cary North Carolina Home Sellers experienced a fairly stable average number of days on the market for 2009 – for the year the average was 121 days on market – or approximately 4 months.
While this is a bit longer than years past it’s still a very robust market – especially compared to other parts of the country. It’s still crucial to price your home correctly in the beginning – research clearly shows that homes priced correctly initially sale faster and at a much higher % of asking price than sellers that choose to overprice and then take price reductions over time – those home sellers experience a longer time on the market and usually end up selling for less than they could have if priced correctly at the beginning.
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
New NC 540 Highway Carves Path in West Cary NC
The newest extension of the current I-540 will be a North Carolina Toll Road called NC-540 - it will be Cary’s first toll road. Construction is underway to extend the existing I-540 which currently ends in west Cary at the highway 55 interchange. The new section will extend further into and beyond west Cary. David Williams on location for CaryRealEstate.com.
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
Cary Home Sales & Garages – Where’s Everybody Parking?
CaryRealEstate.com looks at Cary’s 2009 home sales numbers & Garage Size
Total Cary Homes Sold 2009 - 1,384
The numbers tell us the average home in Cary has a 2 Car Garage - driving around the Town would confirm that as well. As you can see homes with a 4 car garage are rare but they do exist - Search Cary Homes For Sale with 4 Car Garages
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
CaryRealEstate.com defines ‘Cary Home Sales’
When CaryRealEstate.com says ___________ about home sales in Cary what does that represent? where does the info come from?
This post is intended to be a reference anytime we use the term Cary Home Sales or Homes in Cary.
You would think this is fairly straight forward but there are lots of variables – you can always contact CaryRealEstate.com with any questions regarding our data!
“Cary” : This represents any home with Cary listed as the town in the Realtor MLS system. It includes homes with a ‘Cary’ mailing address that are not located in Cary’s town limits (yes that’s possible). It’s also possible for a home to be in the Cary town limits but have a mailing address other than Cary – (due to which post office delivers the mail). If the information is entered into the MLS system probably it should pick these homes up.
“Home” : We are referring to a single family detached home – which is a normal home – this DOES NOT include condos or town-homes – we track those numbers separately.
Source: Unless otherwise noted we pull our numbers from the Realtor’s Triangle Multiple Listing Service – we have access to a tremendous amount of information – which we download into an excel spreadsheet to extrapolate the info we are looking for – yes we are putting in the time to know the Cary Real Estate Market! The articles we write are not boiler plate nor computer generated.
Note: There is a section of our site that does provide computer generated reports – you can sign up to receive these FREE Cary Real Estate Market Reports.
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
Cary Group Preparing For Haiti Relief Trip
A tremendous amount of attention is focused on Haiti right now as they recover from the massive earthquake. People are scrambling trying to find a way they can help – well – here’s a way!
There is a local organization right here in Cary with infrastructure already in place in Haiti – they have a group leaving in the next 72-96 hours – they are looking for experienced medical / search & rescue or translators
If you’re a regular reader of this blog you know I have strong ties to Hope Community Church – Why do I bring this up? Through the members of Hope Community Church a foundation was started several years ago – the Hope for Haiti Foundation – the group has been making trips to Haiti over the past several years – the foundation received a huge boost when Hope Community Church decided to purchase and renovate 2 buildings in Haiti for a hospital and dormitory – that’s right Cary’s Hope Community Church is building a hospital in Haiti!
Hope Community Church Update on Haiti Operations
Thanks for Reading our Cary Real Estate Blog. Post Authored By: David Williams
David’s a Licensed North Carolina Realtor & The Voice of CaryRealEstate.com
Cary Lochmere Home Owners Be on Alert!
Cary residents have the luxury of enjoying a high quality of life – which includes living in a Town of 140,000 people and not worrying much about crime – at least major crime – that’s why the news this week of several home break-ins while the families where home sleeping is big news & disturbing – the break ins occurred in the Lochmere area of Cary – a large planned unit development with lakes, walking trails, golf course etc (also home to yours truly).
Below is the press release from the Town of Cary – I usually do not cut and paste a blog post but with this I’m making an exception:
___________
Town of Cary Police Department Seeks Help in String of Home Burglaries
FOR IMMEDIATE RELEASE
January 12, 2010
CARY, NC – The Town of Cary Police Department is asking citizens for their help in locating suspects involved with recent home burglaries. During the overnight hours of January 10, 2010 and January 12, 2010, suspects gained entry into three occupied homes in the Lochmere area of Cary. Stolen property includes televisions, purses, wallets, electronic equipment and jewelry. No one was harmed during the robberies.
“How or if these burglaries are related is still being investigated, but what we can say for sure is that it’s a very serious concern for us any time break-ins occur while families are sleeping, and we need everyone’s help in protecting against these criminals,” said Captain Mike Williams.
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