Why Are There So Few Houses for Sale?

Homebuyer demand is near an all-time high, but why are there so few houses for sale?

The answer could be that we are in the “homebody era”.

What is the “Homebody Era”?

Homeowners are reluctant to sell, preferring to live in their current home rather than looking to either “step-up” or “downsize”.  This means that there are fewer homes for sale and could result in a housing shortage for years to come. Historically, the average American lived in their home for an average of five years.  In 2008 & 2009, during the height of the mortgage crisis, that number had increased to an average of seven years.  By May of this year, that number had increased to 11.3 years!

Why Aren’t Homeowners Selling?

Two powerful forces are likely to crimp housing supply in the years ahead, according to a recent article in Business Wire. The first is the reluctance of many homeowners to trade historically cheap mortgages for pricier ones when they move. And the second is the tendency for more seniors to age in place.

Interest Rates

Mortgage interest rates still remain highly affordable, and even showed a recent dip. The average rate on a 30-year fixed-rate mortgage fell to 4.07 for May, down from 4.59 a year earlier.  But that’s still higher than lows seen during the housing slump and recovery. The average annual rate hit a trough of 3.65 in 2016, barely beating a previous record of 3.66 set in 2012. This suggests homeowners will feel even more pressure to hang onto their homes in the years ahead, rather than sell and buy a new one using a mortgage with higher rates.

I’m Just Going to Stay Here

The growing tendency of seniors to choose to age in place is a second force that is likely to curtail inventory in the years ahead.  Improvements in health care and technology have made aging in place easier which means fewer homes on the market.

What Can Be Done?

Many industry experts are calling for more home construction and changes to zoning laws to allow more homes to be built and allow for multi-family homes to be constructed.  This has prompted concerns that builders will focus more on luxury or higher-priced communities rather than on affordable housing options. This is already the case in the Triangle.  Many builders are constructing “zero lot line” communities with larger homes on smaller lots.  In downtown Raleigh and Durham, there has been an explosion of high-end condo projects.

 

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Phone 919.589.3576 | Email at inquiries@logpondrealty.com 

Business Wire, June 20, 2019.

Summer Fun in the Raleigh Area

SUMMER IS HERE! 

Time for trips to the beach, baseball games, cookouts, outdoor concerts, pool parties and plenty of outdoor fun!  Here are some summer fun ideas around the Raleigh area!

Open Air Tunes

There are hundreds of outdoor concerts in the Raleigh area this summer.  Check out the guide to the hottest concerts in the area.

On the Water Fun

Rent a canoe, kayak, sailboat or stand-up paddleboard and get out on the water! Check out this guide to kayaking, stand-up paddleboarding, canoeing and more in Raleigh, N.C.

Sailing in the Raleigh Area

Back on Land

Take advantage of the area’s abundance of parks and greenways and hit the ground running with eight of the area’s best trails to hike, bike & run.

Celebrate Independence Day!

Ready to celebrate Independence Day in a big way this year? Fireworks displays, carnival rides, live music, and other patriotic celebrations are lined up all across the Raleigh area!

Roundball Action

Whether you’re a fan of baseball or football (soccer to most) there are plenty of games to watch around the area.

Catching a Game at the Carolina Mudcats

Summer Treats

Ice Cream is our favorite summer treat and there are lots of great options around the area.  Check out some of our favorites.

Fresh Local Ice Cream

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.      

Phone 919.589.3576 
Email at inquiries@logpondrealty.com 

Spring Home Checklist

Spring arrives on March 20th and will last for 92 days, 17 hours and 55 minutes…so, what are you waiting for? Let the home projects begin.

~Tori Toth

You may not have noticed but spring has arrived!  The days are definitely getting longer and as I write this article the temperature here in Raleigh is 80 degrees!  If you haven’t already done so, now is a great time to plan your spring home projects.   

Many homeowners believe spring maintenance is all about the cleaning. Certainly, a good cleaning of the exterior and interior of the home is a good idea, but maintaining the systems, appliances and home structure is a must!  Here are some spring maintenance checklist items.  

Now is the Time for Spring Home Projects

Outdoor Home Projects

  • Clean gutters and downspouts.   
  • Siding: Clean siding with a pressure washer to keep mold from growing. Check all wood surfaces for weathering and paint failure. If the wood is showing through, and the immediate area and apply a primer coat before painting. If the paint is peeling, scrape loose paint and sand smooth before painting.
  • Roof: Inspect roof surface flashing, eaves, and soffits. Perform a thorough cleaning. Check flashings around all surface projections and sidewalls. 
  • Inspect driveways and paths.  
  • Air Conditioning. Just as you readied your furnace for fall, now is the time to make sure that air conditioning units are in good working order for the warmer months ahead. 
  • Check sprinkler and irrigation systems.  
  • Fertilize/Seed Lawn 
  • Mulch Beds 
  • Plant Spring Flowers in Pots (Front Entry/Entertaining Area) 
  • Organize Garage 
  • Clean Patio Furniture 
  • Clean Grill 

Indoor Home Projects 

Here are some ideas to refresh the inside of your home:   

  • Clean Light Fixtures 
  • Touch Up Paint + Baseboards 
  • Wash Windows/Blinds 
  • Wash/Maintain All Appliances 
  • Clean Out Closets (Seasonal Clothes) 
  • Clean Behind & Underneath ALL Furniture 
  • Add Seasonal Décor 
  • Remove Christmas Decorations:  Just noticed that we still have a couple of Christmas decoration scattered around the house!   
Taking Care of Your Home

How to Decide?

It can be difficult to prioritize your home projects.  After all, the list above is pretty extensive and spring is a great time to spend time with the family and check out all of the great things to do around the Triangle area!  Here are a couple suggestions to assist you with your spring home projects.  Start by handling any projects that can cause major damage like a leaky roof, or projects that could affect your safety in the home. Look to upgrade items that can help you save money, like replacing windows. Complete low-cost projects that make an impact, for instance, new paint before tackling the bigger projects.

Home Sweet Home

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Sources

Family Handyman Home Checklist 

Tori Toth Spring Home Goals 

Bob Vila Spring Home Checklist 

Home Advisor Home Checklist   

Spring has finally Sprung!

The sun is shining! The birds are singing! The flowers are blooming! Get out there and enjoy it! There are so many Spring festivals and events all around the Triangle that we can not list them all. Support your local community and enjoy beautiful arts and crafts and delicious food and drinks at these favorites:

Southern Women’s Show

https://southernshows.com/wra
April 12 – 14 ~ North Carolina State Fairgrounds
Shop, sample and share the fun at the Triangle’s favorite event for women. Discover hundreds of boutiques filled with the latest fashions, trendy jewelry, gourmet treats, health and beauty, and so much more. Enjoy fashion shows, top chefs, and celebrity guests.

Spring Daze Arts and Crafts Festival

https://www.townofcary.org/recreation-enjoyment/events/festivals/spring-daze-arts-and-crafts-festival
April 27 ~ Fred G Bond Metro Park
Over 170 North Carolina artists, entertainment on four stages, delicious festival food, and Cary’s annual Earth Day Celebration.

Spring Daze

Brewgaloo

https://shoplocalraleigh.org/brewgaloo/

April 26-27 City Plaza, Downtown Raleigh
North Carolina’s largest craft beer festival, featuring 100 breweries, 50 food trucks and drawing 30,000 people. It was nominated as one of the top 10 beer festivals in America!

Peakfest

https://apexpeakfest.com/
May 4 ~ Historic Downtown Apex
Celebrate the Peak of Good Living with live music all day, artists of every kind (jewelry, pottery, watercolor and acrylic), entertainment for the kids, food that you would find at the fair, and so much more!

But Wait! There is more!

In addition to these annual events, we’re lucky enough to have so many other places to enjoy this beautiful season!

Take a picnic and enjoy the beauty of Sarah P. Duke Gardens https://gardens.duke.edu/

Grab some friends and enjoy an exciting baseball game at the Durham Bulls Park https://www.milb.com/durham/

Get out and explore the numerous parks, greenways, gardens, baseball and soccer fields! Please share your favorites with us at https://www.facebook.com/LogPondRealty/

Duke Cardens

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Real Estate Market Update – January 2019

 

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Real Estate Market Update – December 2018

 

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via phone at 919.589.3576 or via email at inquiries@logpondrealty.com 

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

New Year’s Resolutions for Home Sellers

Happy New Year!  With the New Year, it is time to dust off the old year and make plans for the coming year.  Maybe you want to exercise more, read more or spend more time with friends and family?

If selling a home is one of your New Year’s resolutions, here are some quick tips:  

Resolutions for Home Sellers

Thinking about selling your home this year or in the future?  Regardless of the season or market conditions, remember that you only have one chance to make a first impression.  Make your home memorable to potential buyers.  Before listing your home, commit to these quick Home Seller New Year’s Resolutions to help ensure the quickest sale for the highest price.

Home Seller Resolution #1:  Plan Ahead

Do you truly want to sell your home? This is not the time to “see what happens” or “I’ll list it to see if it sells.” This wastes your time and the time of potential buyers and agents.  The 2019 housing market here in the Triangle is likely to become harder for home sellers.  Buyer demand has slowed and there is lots of competition, especially from new home communities.

Once you commit to selling your home, go all the way.  Remember, you only get one chance to make a first impression and most home buyers decide whether or not to schedule a showing in the first 10 seconds while viewing pictures online!

Selling your home is a BIG deal and it takes lots of planning.  You need a team of experts including; real estate agent, contractors to assist with possible home repairs, movers, etc.  This is especially true if you are planning to buy a home at the same time.

Resolution:  Plan Ahead!  Contact a real estate professional early on to discuss your options and to commit to selling your home!

Planning Ahead is Key

Home Seller Resolution #2:  Repair & Replace

Stained carpet in the bonus room?  Leaky faucet in the kid’s bathroom?  Wallpaper in the living room?

Today’s buyers are, for the most part, looking for move-in ready homes. They do not want to dedicate all of their free time and funds to work on the house they live in.  All of those deferred maintenance projects should be addressed.  They will come up on the buyers home inspection.

Also, if your house is still living in the 1980s, it might be time for an upgrade.  There are many simple fixes; e.g. updated paint, lighting, and fixtures that will make your home more attractive to potential buyers.

Resolution:  Repair any deferred maintenance items and bring you home into 2019.

Home Buyers Want Move In Ready

Home Seller Resolution #3:  Cut the Clutter

Boxes piled high in the garage?  Can’t see the floor in the bonus room?  Afraid to open the hall closet door?

A cluttered house can suggest a lack of space, which can impact offers.  Potential buyers want to envision their furniture in your home.  Depending on lifestyle and length of time in the home, cleaning out the clutter can be a BIG project.

Take it step by step, room by room!  Be honest about what you need, want and what you can live without.  The bonus?  You won’t have to pack, move and clutter your new home with stuff you don’t want.

Lastly, when it’s time to list your home, stage it to show in the best possible light.  Your real estate agent may offer home staging as part of their suite of services to take your home to the next level.

Resolution:  Get rid of unwanted items in closets, the garage, and other rooms.

Home Staging is Key

Wrapping Up

Whether you are thinking about buying a home, selling a home or both in 2019, now is the time to commit to your resolutions.  By starting now, 2019 may be the year that you find your self in a new home!

If buying or selling a home is a goal for you next year, please don’t hesitate to contact us.

Whatever your plans are for 2019, we hope you have a very happy and prosperous New Year!

 

About Log Pond Realty 

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via email at inquiries@logpondrealty.com or by phone at 919.589.3576.

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

New Year’s Resolutions for Home Buyers

A new year brings much excitement and anticipation, but could 2019 be the year for a new home?  Here are some quick New Year’s Resolutions to help you buy a home in 2019.

Resolution #1:  Boost Your Savings

Instead of just thinking about saving, why not start the new year off right with a resolution to jump-start your savings and start putting away more for your down payment on your first home?

If you’re worried that the traditional 20% down payment may be too difficult to save in a year, there may be additional mortgage options that don’t require that amount.

Resolution:  Ditch the daily Starbucks run and boost your savings!

Resolution #2:  Check Your Credit

Have you checked your credit report? If not, you should do that right away. Many credit reports contain errors and you will need time to have those mistakes removed.

Your credit score is a very important variable that lenders consider when deciding on your mortgage loan. To make sure you get the best possible rates, it is never too early to start improving your credit!

Resolution:  Check your credit score!

Resolution #3:  Pay Down Your Debt

Your debt-to-income ratio is an important factor for lenders. To help you achieve a favorable rate, focus on paying down your existing debt as much as possible. This new year commit to paying more toward credit card debt, student loans, medical debt, and other debt streams. With fewer dollars owed, you will be in a better position to afford a mortgage once you buy a home!

Resolution:  Brown bag your lunch and put the savings toward your debt.

Resolution #4:  Start Building Your Home Purchase Team

Buying a home on your own is no easy task, which is why most home buyers opt to utilize the talents of many professionals along the way. The new year is the perfect time to start thinking about building the home buying dream team that can help you find your home and pay for it too!

Your team should include an experienced real estate agent that can guide you through the process and a licensed loan officer that can assist you with all of the intricacies of the mortgage process.  Your real estate agent can also assist you with home inspectors, general contractors and a real estate attorney that can assist with repair negotiations and with your home closing.

Resolution:  Commit to finding an experienced real estate agent and lender that can guide you to finding your new home!

Wrapping Up

If you are planning to buy a home in 2019, now is the time to commit to your home purchase!  With a few simple resolutions, you could be living in your dream home this year!

We hope you have a very happy and prosperous New Year!

About Log Pond Realty 

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via email at inquiries@logpondrealty.com or by phone at 919.589.3576.

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Winter Events Around the Triangle

Happy New Year!  Even though the holiday season has come and gone, there are lots of great activities in and around the Triangle!  Grab your winter hat and throw on your sweater and check out some great winter events!  

Winter Wonderland at Bond Park (1/25 & 1/26)

Bond Park in Cary becomes a winter wonderland where an amazing sledding hill will be created with man-made snow, and tubes will be provided so you can catch some speed as you fly downhill.

The amazing sledding hill will be covered with snow made from ground ice by Snow My Yard. The snow is refreshed each morning and between sessions as time allows. Snow tubes are provided — please do not bring your personal sled, disc or tube.

Check out the website for more information.

Snow tubing fun comes to Cary

African American Celebration (1/26)

This event is a kickoff to the statewide observance of Black History Month.  This 18th annual event brings together 75+ musicians, storytellers, dancers, chefs, historians, artists and more in downtown Raleigh for a day of pride and celebration of culture.

18th African American Celebration

Triangle Restaurant Week (1/21 to 1/27)

Triangle Restaurant Week is a week-long celebration of culinary excellence throughout the Raleigh area. Participating restaurants offer special three-course menu options and fixed pricing making this the perfect chance to try out a new spot or return to an old favorite.

Dinner is Served

Krispy Kreme Challenge (2/2)

The Krispy Kreme Challenge is one of the most unique running events in the country.  And maybe one of the most unique eating events!  The event has been an annual Raleigh tradition since 2004 and draws nearly 8,000 runners.

Participants begin the Challenge at the Memorial Belltower on the campus of NCSU in Raleigh. Runners then travel 2.5 miles through historic downtown Raleigh to the Krispy Kreme located at the intersection of Peace and Person St., where they attempt to consume one dozen original glazed doughnuts. The hardest part of the Challenge awaits them as they run 2.5 miles back to the Memorial Belltower. This is the Krispy Kreme Challenge!

Run Fast, Eat Donuts!

Big Name Acts

Don’t miss out on a huge list of big-name acts set to perform on big stages this winter: Justin Timberlake (1/6), Cher (1/27), Metallica (1/28), Elton John (3/12) and Mumford & Sons (3/17) will all play at the PNC Arena.

Old Fashion Hockey

The Hurricanes continue their march to the Stanley Cup playoffs with a host of home games.  Check out the Hurricanes Homegrown Series to find out about some of the best chances to pair hockey with local food, music and beer at the arena!

Looking for other activities?  Check out VisitRaleigh.com for a full list of local events, including a Bucket list of the top 30 things to do this winter.

Hockey Action Continues with the Hurricanes all Winter Long

About Log Pond Realty

Home is where your story begins. Home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via email at inquiries@logpondrealty.com or by phone at 919.589.3576.

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.

Fall at the Pond

Fall is coming to a close & winter is just around the corner. We have had such a great fall season helping our clients and enjoying time with family and friends. We are looking forward to a great holiday season and 2019!

 

About Log Pond Realty

Home is where your story begins. A home is where hopes and dreams are born, memories are made, and lives are lived. We would love the opportunity to assist you in writing your new story.

We can be reached via email at inquiries@logpondrealty.com or by phone at 919.589.3576.

We service the Triangle region of North Carolina including Raleigh, Cary, Apex, Holly Springs, Morrisville, Fuquay-Varina, Durham, Chapel Hill, Wake Forest, and Garner.