Home Buying in Raleigh>Question Details

Eric, Home Buyer in Carrboro, NC

Is real estate in the Triangle overpriced?

Asked by Eric, Carrboro, NC Sat Jun 14, 2008

I believe it is. Just looking at the average household income data and the price of the average new home leads me to believe the area is due for some correction, like the rest of the country. I will be in the market for a home next summer. I don't know if I am going to go with new-built, existing, foreclosure, etc. I want the best deal for my money and it seems to me fairly priced homes are hard to come by, especially in Wake County. I refuse to be house poor like so many others. What is the best way to score a good deal in this area? I won't pay more than $220,000 and/or more than $100 per sq. foot.

Help the community by answering this question:


There are some great homes that are priced well below $100 a square foot. I can help you with everything from securing a mortgage to finding a property that meets the location and amenities you are looking for. There are definitely some neighborhoods I would recommend over others. Also, you will notice that the price/ square ft. will be significantly lower in certain areas. While these may seem like a great deal, the homes don't appreciate as well, and in the long run they aren't the best deal. Shoot me an email if you are interested in learning more: dbrown@cavaliermort.com
Web Reference: http://www.cavaliermort.com
0 votes Thank Flag Link Mon Jun 23, 2008

Prices of the homes have come down significantly trough out North Carolina and Wake County is not an exception to that as well. There are still lots of over priced homes but many sellers are becoming reasonable and pricing to sell. In my experience best value right now is in resale homes and sometimes in new construction that has been finished last year and still not sold. Foreclosures are rarely good deals as they are almost always in not so good shape and I am not seeing that many around here anyway.
You should located good buyers agent and he / she will find it for you. That way you will be updated about all new listings and you will have someone on your side that can advise you as well as negotiate for you so you can get best possible deal for your money. Let mw know if you need any help locating good buyer’s agent.
Good luck!

Your North Carolina Broker
Sonja Babic
Web Reference: http://www.SonjaBabic.com
0 votes Thank Flag Link Wed Jun 18, 2008
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