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.

A New Beer on the Raleigh Beer Trail:  Cotton House Craft Brewers

Over the past several years, the Raleigh-Durham-Chapel Hill area has become a mecca for local breweries.  Across the Triangle area, there are 25+ breweries with open barstools waiting to be checked out!  From IPAs, Stouts, Porters to Pilsners here are plenty of great options. 

A New Brew in Cary

This week, Kelly and I decided to check out a new brewery in the heart of downtown Cary, the Cotton House Craft Brewers.  Downtown Cary is a vibrant destination featuring the Mayton Inn, the Downtown Park, the Cary Arts Center and the soon to be renovated Cary Community Library.  The Cotton House is one of the newest businesses to call downtown Cary home.

Welcome to the Cotton House

The Venue

The Cotton House has a different look and feel than most breweries in the Triangle.  The taproom is located in a historic house, The Pasmore House, a registered National Historic Site built in 1900.  The house features an expansive front porch with high back rocking chairs perfect for sipping a finely crafted beer while greeting the passers-by on Academy Street.

Inside, there is a room that resembles a turn of the century formal parlor.  This room features period style furniture with an original brick fireplace.  This room is a great place to relax and enjoy conversation with your friends.  The taproom includes a 25-foot prohibition-era style bar with a stunning Italian marble top.  There is also a large back deck with views of the Cary downtown fountain and the new library complex.

The Tap Room

The Beers & the Bar Menu

The Cotton House focus is on a limited release of beers.  Kelly and I both sampled the Hazy Days IPA, while I opted for my second round to go dark with the Houndstooth Stout.  Both were delicious!  The stout, while dark, was not overly heavy and the IPA is sure to get my taste again on a future visit.

One of the unique features of the Cotton House that separates itself from other taprooms around the Triangle is that the bar menu features selections from Mayton Inn next door.  The owners also plan to offer a selection of rotating food trucks.

The Cotton House is a great addition to the Raleigh, Durham & Chapel Hill beer scene and if your travels find you in downtown Cary, the Cotton House is definitely a tap house that you should check out.  I know that I will definitely be back again!

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.

 

The Mayton Inn

I enjoy exploring when I’m out of town but typically resort to the “same old places” when I’m home. However, a recent conversation led me to step outside of my usual #itp favorites and I’m so happy that I did! Please do yourself a favor and make plans now to stop by the Mayton Inn. Whether you go for a drink, a meal or a weekend staycation, you will fall in LOVE!

Mayton Inn Room

After enjoying a delicious dinner with friends at The Mayton Inn, I had the privilege of meeting the owner, Deanna Crossman and her adorable sons. She is charming, passionate and focused on creating a memorable experience. She currently owns two other hotels but you can tell The Mayton Inn and downtown Cary hold a special place in her heart.

Dining Area

The Mayton Inn is a 45-room boutique hotel in the heart of downtown Cary. The Georgian-style hotel has something for everyone and boasts a lounge, full bar & restaurant, event spaces, and an outdoor terrace. There is also a high tech gym facility and spa rooms for guests. We were introduced to several members of the staff and they were all welcoming and helpful.

This inn is the PERFECT setting for a wedding, corporate event, gala or even just a night on the town! The hotel was designed to allow for many uses and offers beautifully appointed spaces both inside and out. Walking through the curated rooms and suites, it’s hard to tell if the Mayton is a stunning, historical building or gorgeous new construction. It has a sense of timelessness that adds to the experience.

Carolina blue skies over the newest boutique hotel in town!

The attention to detail is phenomenal and can be seen in the way the colors, the fabrics and the lighting all come together to set a specific mood. The oversized terrace is ideal for enjoying our wonderful North Carolina weather and catching up with friends. They hold various events throughout the year to attract various guests and establish themselves as a destination and I can’t wait to see what’s next!

Whether you’re planning a special event, looking to impress out-of-town guests or just want a unique experience close to home, you MUST stop by The Mayton Inn. You will NOT be disappointed!

Visit their website for more information

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.

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.

Tips for the First-Time Homebuyer

Over the last several months, Kelly and I have worked with a number of first-time homebuyers. Being a first-time homebuyer can be tough.

The Affordability Squeeze
The Affordability Squeeze

Affordability is at an all-time low for starter homes, and it’s making things tough for prospective first-time homebuyers to cross over from renting to owning. Demand for starter homes, pushed by increases in rental rates has pushed buyer demand for starter homes.

A recent news story from Bloomberg noted that starter homes prices have past pre-recession levels and the typical first-time homebuyer needs nearly 23% of their income to afford the typical entry-level home, according to data from the National Association of Realtors.

Across the Triangle area, there are a number of older neighborhoods featuring smaller, lower-priced homes that highly sought after by first time home buyers.  A few months ago, a client of mine called me about a small ranch home in a highly desirable area of Cary.  The home had been recently renovated and had many features sought by my client.  When we arrived at the home on a Saturday morning, there was a long line of real estate agents and their clients seeking to tour the home.  Ultimately, my client decided not to place an offer on that home but did find a great home in an adjacent neighborhood.

Home in Cary

 

Buying Requires Patience & an Understanding of the Market

This market requires patience!  Lots of patience and an understanding of the market. One of the things that Kelly and I do with all of our buyers is schedule a face-to-face meeting with all of our buyers before looking at a single property.  Our aim is to understand what is really important to our client.  Our second aim is to educate our clients about the market.  A huge part of our role is educating clients about the reality of this market.

A Reality Check

Once we have met with the client, we will ask them to meet with a local lender.  Reality check time!  One of our biggest tips is for our clients to meet with a lender and get pre-qualified before looking at houses.  It’s important for a first-time homebuyer, in fact, any buyer to have an understanding of what they can afford before looking at houses.

Reality Check

Last year, I had a young couple call me about a new listing in downtown Apex.  Downtown Apex is a very hot area.  Demand is very strong and prices have rapidly increased over the past many months.   My clients had been to several open houses and had fallen in love with a beautiful neighborhood close to downtown. Unfortunately, they did not qualify for their desired neighborhood.   Luckily, my clients found a great home in Fuquay-Varina that didn’t offer the central location they were looking for but did offer many of the home features that they desired.

It is important to remember that you may not be able to get everything you want in your first home and it is important to have realistic expectations.

Quick Tips

 

Here are some quick tips for the first-time homebuyer:

1) Get Pre-Approved:  As mentioned above, get pre-approved before looking at homes. Sellers typically won’t accept your offer unless it’s all cash or you have a lender’s letter saying you can get the financing you need to close the deal. Consequently, being pre-approved for a loan is crucial.

 

2) Prioritize Your Preferences: Make a list of what’s important to you and your family, whether it is location, condition, price or certain amenities, and be prepared to make sacrifices.

3) Know Your Budget

4) Be Realistic 

 

5) Act Fast: If a house is listed Monday, don’t wait until Saturday to see it.

6) Get Educated:  Being well-informed about the local housing market — including knowing the prices of recently sold homes, taxes, the school district, etc. — can give you an advantage over experienced buyers who are out of touch with the trends.

About Log Pond Realty @ RE/MAX United

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 with assisting you to write 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.

 

 

 

Triangle Real Estate Market Summary: Market Rebound in October

October Market Summary – Wake County General Brokerage
New Home Community in Apex, NC

After the September real estate numbers were posted, many that follow the local real estate market feared a possible slow down ahead. The October numbers were generally robust.

While the number of showings was down 18% and overall inventory was down 2%; including a 13% decrease in resale inventory, the # of new construction homes increased by 16%.  The ability of residential home builders to rebound from the downturn of the mid-2000’s is a key element of a continued growth of the local real estate market.

Over the past few weeks, Kelly and I have been visiting many new home communities across the Triangle.  Many of the communities, especially those in the $350k – $500k price range, have identified that they have been busy with potential buyers viewing their communities.

As we enter the holiday season; one that is traditionally a slow period for home sales, it will be interesting to see if the market continues to enjoy growth.

Market Report Wake County October 2017
About Log Pond Realty @ RE/MAX United

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 with assisting you to write 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.

Cary Is Your New Hometown, Not Home City

Cary Town Hall

Cary is located in Western Wake County, only 15 minutes from downtown Raleigh and one that is frequently ranked on many “Best Of” lists.  My first contact with Cary was in 2004.  My wife and I decided to move to the Raleigh area and we had decided that Cary would be the place that we would move our family.  When I told a friend that had some knowledge of the Raleigh area that we were moving to Cary, he looked at me with a smirk and said, “so you’re moving to the Containment Area.”

Cary has a reputation for drawing Yankees and people from other areas to its town limits.  The running joke is that Cary actually stands for “Containment Areas for Relocated Yankees.”  What attracts people from other areas is that Cary

Downtown Cary

offers a quality of life sought by many. It doesn’t hurt, of course, that Cary consistently is mentioned among the nation’s top cities, being recognized as one of the Safest Places to Live in America, Best Places to Retire and Best Places to Raise a Family in the United States.

 

Even though Cary has grown from a small town into one of the larger communities in North Carolina, Cary offers a small-town atmosphere and a proximity to Raleigh, the Research Triangle Park, and the RDU International Airport.  Cary provides a variety of enjoyable and economical recreational, sports, environmental, historical and cultural arts programs and services. Indulge yourself in the enticing, natural beauty waiting on one of the 39 greenway trails open sunrise to sunset and providing more than 70 miles of recreational amenities for walking, jogging and bicycling in a natural setting.

Links

Official Town Website

Cary Chamber of Commerce

Heart of Cary Association

Cary Arts Council

Lazy Days Festival

About Log Pond Realty @ RE/MAX United

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 with assisting you to write 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.