Duke University, NC

There is definitely a buzz around Raleigh.

You can feel it in all aspects of the real estate market these days.

I just saw a great post from DownTown Raleigh Alliance about some additional awards the Raleigh Area has recently won:

#2 Smartest City in North Carolina – American City Business Journals – November 2011

• Cary and Durham also ranked very high
• Chapel Hill received additional recognition for the smartest communities with population less than 99,999.

#4 Best City for Technology Jobs -Forbes.com – November 2011

• Technology jobs outpaced the overall rate of unemployment
• Raleigh rated #4 for this list

#5 Top 10 Metro Areas for Growth Since the Recession – Urban Land Institute - October 2011

• In just 10 percent of the nation’s 50 largest metropolitan areas, total economic growth exceeded 10 percent since 2007.
• Raleigh North Carolina is #5 on this list

I find this news very encouraging. I am seeing an increase in Buyers and Sellers, and the good news is only helping homeowners on both sides of the transactions in Raleigh.

How about you? Have you seen an increase in activity in your area also?

The real estate news for the Raleigh Durham Chapel Hill area keeps improving. Inman News, a top real estate technology blog, noted Raleigh as the #1 Real Estate Market to Watch in 2012.

Inman noted the end of the year home value appreciation as a top value with the median sales price jumping 7.3% from third quarter 2010 to third quarter 2011.

Also noted in the article was the median sales price for Raleigh-Cary metro was $224,300. This is one of the highest median sales prices around.

I am seeing increased activity with both Buyers and Sellers, and it is a breath of fresh air in the real estate market for certain.

I saw this article this morning from Forbes Magazine and was encouraged by additional recognition of the amazing assets that Raleigh, Durham and Chapel Hill area offer people of all ages, in this article, specifically Young Adults.

I have personally seen an increase in activity from Young Adults in the past few months and this articles shares some of the reasons why.

Forbes Magazine - Raleigh #2 City Young Adults

2. Raleigh, N.C.

• M.S.A.: Raleigh-Cary, N.C. Average Annual Job Growth (2010-2012):
• 2% Median salary: $51,500
• Cost-of-living index (U.S. average is 100): 104.4
• Percent of pop. with college degrees: 42.2%
• 1 small business for every 49 residents
• 1 large business for every 770 residents
• Unemployment rate: 7.9%
• The college town has one of the best job growth projections of any city we assessed and the 16th best average salary for young professionals, exceeded only by markedly more expensive cities.

What are your thoughts? Do you think the Raleigh area should have been rated this high? I do, and am very pleased with the opportunities it offers to Buyers and Sellers.

As the end of the 2011 real estate market year approached, I noticed an increase in activity. I found this great article by SMA Publications that confirmed what I was seeing in the marketplace: House Appreciation and Sales are on the rise for Orange, Durham and Wake Counties!

I was most impressed with an increased house appreciation in Orange County of 2.34%. Durham County had a housing appreciation increase of .82% and Wake County housing appreciation is at 0.78%.

I am very encouraged by the increased activity of both Buyers and Sellers. Let's hope this positive vibe continues well into 2012.

Happy New Year from my home to yours!

~ Amy

Planning to go back to graduate school is big step to further your career.

For people who have been working and currently own a home, townhome or condo, the possibility of moving needs to be considered before you go back to school.
Top Reasons

The top 2 reasons graduate school students consider selling their home are:

1) Moving closer to school or
2) Cut costs and lower maintenance responsibilities

Consult with your local real estate professional to assess your options. If selling or renting your current home is an option, you need to know the details about how that process works and if it would fit in your overall plan for the next few years.

Remember that qualifying for a mortgage will change once you change your current job or if you don't have income while you are in graduate school.

Questions to Consider

Here are 3 questions to ask yourself to plan your housing while you are going to be in graduate school:

1) Is your current home too much for you to manage while you are committed to graduate school? (include home maintenance items that occur seasonally such as cleaning gutters, shoveling snow and mowing the grass)

2) Will you likely relocate out of the area once you earn your graduate degree?
3) Are you thinking you might open your own business after finishing graduate school?

Possible Solutions
Some possible solutions for upcoming graduate students include the following:

1) Rent your current home
2) Get a roommate
3) Refinance your mortgage to get a fixed interest rate or lower your mortgage payments
4) Sell your home and rent while in graduate school
5) Sell your home and buy a property close to school that could become a rental property when you finish school

Remember that consulting professionals is key in making the decision of whether to sell your home before applying to graduate school. A real estate professional, accountant or CPA, and a mortgage lender can give you valuable insight on how this process can be made easier.