Real Estate

Local Market Trends: June 2020

July 20, 2020 By Annie Meadows

The Triangle MLS has just released last month’s market update. Click here to watch a brief video for a snapshot of our local market stats.

May 2020 – June 2020 Recap

Median Sales Up .6% May and June 2020
Days on Market Up 3.8% and Inventory Down 12%
Closed Sales Up 31%, Under Contract Sales 2.8%, and New Listings Up 2%.

June 2019 vs June 2020

Showings were up 0%, inventory down was down 36.1%, and listings were also down 2.8%. Pending Sales were up 12%, Closed Sales were up 31%, and Overall Average Sales were up 3%. What does this mean for you? If you’re considering a sale this year, the market could not be hotter! If you’re ready to buy, you’ll need strong representation in your corner and I’m up to the task!

Watch to see more trends in the local real estate market for the Greater Triangle Region during the month of June 2020…

For more information about Triangle MLS, or for previous Market Trends, visit here.

Whether you are looking to buy or sell your home I am here to help. If you are looking for investment properties, I can help you with that too! Give me a call today at 919-961-3277. Or, send me over an email to Annie@HudsonResidential.com.

Fill Your Walls With Affordable Art!

July 16, 2020 By Annie Meadows

An easy way to elevate a room is to add a piece of art! Buying art could seem daunting and expensive but it doesn’t have to be that way. There are plenty of resources out there where you can find affordable art that looks expensive. I’ve rounded up a few online stores that have great options. The best part is you don’t even have to leave your house!

Where to Buy Affordable Art

Minted – This is one of our favorite sites to find great prints. Minted features prints from local and independent artists which we love! Get inspiration, shop, and even learn how to hang your art all on one site. If you don’t find the perfect piece, you can get a custom piece created by one of their artists starting at $75!

Etsy – We love etsy for lots of reasons, but if you haven’t searched for art you are missing out. There are plenty of prints and posters to choose from. Again with etsy, you can commission art if you have a certain vision in mind.

Lulu & Georgia – You might have shopped here for rugs and furniture, but that’s not all Lulu & Georgia has to offer. Prints start at just $30. Larger scale canvas paintings that go for thousands of dollars are also available if it’s in your budget! Can’t decide on a piece of art? Try a wall hanging to add interest to your bare walls.

Make your house a home with art! Buy what you love and what fits your personality. If you have any questions relating to your home, give me a call at 919-961-3277.

Source: My Domaine

How Coronavirus is Changing Our At-Home Style Vibes

July 10, 2020 By Annie Meadows

Since the coronavirus outbreak, our home has become so much more than where we lay our head at night. We are working from home, working out from home, home-schooling, and much more! We are now starting to see changes in interior spaces. Below are seven ways design experts predict interior design will change after coronavirus.

1. Larger Home Office Spaces
Make-shift offices are in kitchens, living rooms, and even basements. In the future, homeowners might be more interested in home offices. Since April 2020, interior design service Modsy has seen a 40% increase in home office design requests compared to the same month last year.

2. Defined Mudrooms and Entryways
A place to remove shoes, masks, jackets, and bags could help to mitigate germs and bacteria in the home!

3. Private Spaces
Being cooped up under one roof with your family can be stressful. There is now a need for private spaces so everyone can enjoy a little alone time. Think designated reading nooks or separate rooms for each child in the house.

4. Thoughtfully Designed Kitchens
Cooking has become a new hobby for many people during this time. It also has people thinking about how they organize and store their food. You might expect to see more storage, larger pantries, and specialty appliances. Wouldn’t it be nice to have a bread machine or cold-brew coffee station?!

5. Hygienic Surfaces
Easy to clean hard surfaces like glazed tile will be a trend in bathrooms and kitchens. Also, no-touch technology for faucets and doorbells to reduce germs on frequently touched services in the house will be in!

6. Increased At-Home Entertaining
Even as restaurants open back up, homes of friends and family are controlled environments which make them an inviting option for safe gatherings. With warmer weather and grilling season in, you’ll find yourself on your back patio now more than ever.

7. New Shopping Habits
As people spend more time at home, the more critically they’ll think about decorating. High-quality furniture and sofas will become the new norm. Custom furniture and international shipments are in limbo or delayed so try shopping locally! A fun local favorite Union Camp Collective has a little something for everyone.

Source: Better Homes & Gardens

Four Closings in ONE Day!

July 10, 2020 By Annie Meadows

What a fun start to July! Monday was a record day with four real estate closings for my clients at Hudson Residential Real Estate. Thank you for trusting me with your home and investment property purchases.

Buyer Closed: 1400 East Davie Street in Raleigh

The cute Walton family closed on their beautiful brick ranch home. Learn about their selling and buying experience with me here.

Buyer Closed: 2456 Milburnie in Raleigh

Kellen and his sweet pup Pabst are already settling nicely into their new brick ranch!

Closed: 2345 Bernard Street in Raleigh

This two-bedrooms, one-bath investment property is a short walk to Five Points and the Raleigh greenway!

Closed: 3306 Glen Henry in Raleigh

This two-story, three-bedrooms, two-and-a-half-bathrooms home is also another investment property in Raleigh. Isn’t the teal exterior paint color just beautiful for the summer?

Whether you are looking to buy or sell your home, I am here to help. If you are looking for investment properties, I can help you with that, too! Give me a call today at 919-961-3277.

What Are iBuyers and Should You Use One?

June 3, 2020 By Annie Meadows

“iBuyers” (or “Instant Buyers”) are companies that purchase homes outright, directly from the owner. iBuyer companies, such as Redfin, Zillow, Opendoor, and Knock, use technology to make an offer on a home instantly and most the of time, sight unseen. As the seller, you do not list your home, stage it, market it, or show it to potential buyers. Instead, the company uses data such as age, condition, size, and zip code, plus mathematical algorithms, to predict the home’s future value.

Typically, you will submit an online request for your home where you will fill out an online questionnaire. The iBuyer then presents you with a cash offer and you can choose to accept or decline. If you accept the offer, you will receive the cash in a few weeks depending on your closing date.

Pros of Using an iBuyer

There are a lot of benefits to using an iBuyer including all-cash offers, quick turnaround, no negotiation, no showings, no staging, no repairs, and no inspections. Though this may seem like a great option, many times the cons of using an IBuyer outweigh the pros.

Cons of Using an iBuyer

Lower Offers: Selling to an iBuyer often means you make less money on your sale than you would working with a real estate agent who preps your home for sale and negotiates the best offer. iBuyers want to turn the house around quickly to sell it for a bigger profit which means they want to pay less upfront.
High Transaction Fees: iBuyers may charge 7-13% (or more!) while real estate agents typically charge less.
Non-Interactive: iBuying is a non-emotional transaction and business is not carried out face-to-face. With something this important, you may prefer to speak to the involved parties in person in regards to your transaction.
Expert Advice: A real estate agent is very familiar with your area. They know the market value of your home and can negotiate to get you the best price. We are also here to offer helpful advice along the way to sell your home faster and for more money!
There Are Lots of Scams: There are many businesses out there posing as iBuyers. Make sure you do your research if you decide to go this route.

Have Questions?

I would love to talk to you about your specific situation and help you decide whether an iBuyer or a traditional sale with a real estate professional, like myself, would be best for you. Give me a call at 919-961-3277.

Recent Buyer and Seller Transactions as We Head Into Summer

June 3, 2020 By Annie Meadows

Buying and Selling in Downtown Raleigh

I recently had the pleasure of working with this awesome couple and their sweet daughter to sell their all-brick ranch near Downtown Raleigh. 1308 E. Lane Street is under contract as of May 29, 2020.

1308 E. Lane Street sits on a spacious, secluded lot and was completely remodeled just last year. Tasteful touches inside and out blend with a seamless floorplan to give a perfect mixture of comfort and security. I knew this property would not be on the market long which made me so excited when we found their new home on E. Davie Street in Raleigh.

This wonderful brick ranch home with a full basement is perfect for their family. The living room, family room, sunroom, dining room, and kitchen all have great natural light and there is so much potential with the basement level. I know they are going to love the huge fenced back yard and two-car garage. Plus, they are directly across the street from Roberts Park yet still convenient to Downtown Raleigh.

Congratulations, Courtney, Cody, and Charlie. It has been a pleasure working with you!

Recent Buyer Transaction: 2456 Milburnie Road, Raleigh

Timeless brick ranches have long been a buyer favorite due to their low maintenance upkeep and as you can see from their latest closings, they’re still a popular choice today. I also want to congratulate one of our recent buyers on their new home that is currently under contract in the rapidly growing Longview Park. It is just a quick bike ride or drive into Downtown Raleigh. There were lots of interior and exterior updates including new appliances, lighting, plumbing fixtures, hardwoods, and more. This is a great home and I am so excited for my client.

Ready to Find Your Downtown Raleigh Home?

Looking to move into the city? Prefer something “outside the beltline”? No matter what your price range is or what area you are looking to move to, I am here to help. Give me a call at 919-961-3277.

Recent Buyer Transaction: 1105 Hickory Pond Court

May 18, 2020 By Annie Meadows

Though we are living in a crazy time right now, I am excited to say that things are still moving in the real estate world and it is a great time to buy or sell a house. My teammate, Ryan Boone, tackles all the ways you can keep your home search going during the coronavirus shutdown in his most recent blog post.

I would also like to take a moment to congratulate one of our recent buyers on their new home that is currently under contract in North Raleigh! No matter what your price range is or what area you are looking to move to, I am here to help. Give me a call at 919-961-3277.

1105 Hickory Pond Court

This beautiful home is located in a highly desired North Raleigh location and has been very well maintained. It features an open floor plan, wood floors, first-floor master, and a large bonus room. Updates include a new roof (2020), tankless water heater, granite countertops throughout the kitchen and bathrooms, and a chef’s sink.

The location provides easy access to major highways, Crabtree Valley Mall, and Greystone Village. I can’t wait to see how they make this house their home.

What to Do If the Appraisal Comes in Low: For Buyers and Sellers

May 5, 2020 By Annie Meadows

I know how nerve-wracking it can be to wait for an appraisal when you are selling your home. I also know that if your appraisal comes in low, it may feel like the end of a sale or a canceled deal, however, this is not the case. It may mean you have to renegotiate or change some things but I have a few tips that will help!

What is an Appraisal?

First things first, let’s talk about what an appraisal is. An appraisal is a professional report that helps gauge a home’s value. The most common time for an appraisal is when you are selling your home but a homeowner can request one at any time. If the person buying your home is financing the purchase, their lender orders an appraisal to ensure that the house is worth the amount the bank is agreeing to finance. An appraisal protects the buyer’s lender from offering too much money for a home that is not worth the cost.

Many times, there is a home appraisal contingency that states that if the appraisal comes back low, the buyer has the option to back out of the deal and get their earnest money back.

If the appraisal is greater than the offer, you are in the clear. If the appraisal is lower than the offer, buyers and sellers will have to come to a mutually beneficial solution.

What Can You Do as the Seller After You Receive a Low Appraisal?

Ask for a copy of the appraisal.
Offer the seller financing.
Ask the buyer to challenge the appraisal.
Renegotiate the sale price with the buyer.
Cancel the sale and relist your home.

What Can You Do as the Buyer After a Low Appraisal Comes In?

Make up the difference in cash.
Shift some down payment to make up the difference.
Appeal the appraisal.
Cancel the contract.

What Home Appraisers Look for and How to Prevent a Low Appraisal

An appraiser is there to determine the condition of the home and its value. Here are a few things they are looking for when they come to the home:

What is the age or condition of the home?
What is the square footage?
Are there upgrades or improvements?
Are repairs needed?
Is there up-to-date insulation, etc.?
Are there energy-efficient windows or other construction details?
What is the lot size?
What is the location of the home including the school district, nearby amenities, etc.?

It is a good idea to prepare your home for an appraisal. If you have done any major improvements on your home or renovated, have the receipts ready to give to the appraiser. Make sure you have cleaned up. You have probably already done this before you listed your home but it is important that your house looks tidy and well-maintained. In addition to cleaning, make sure your smoke and carbon monoxide detectors are functioning.

Source: Zillow

I’m Here to Help

Whether you are looking to buy or sell a home, the appraisal is just one of the building blocks in a complicated but exciting process. One of the benefits of working with a real estate agent you can trust, is they will help you price your home appropriately which helps with the appraisal.

I would love to answer questions that you have, give me a call at 919-961-3277 or email me at Annie@HudsonResidential.com.