Kristi May

Almost everyone is talking about the fact that things are beginning to look up in the real estate market. From where we were last year, that is definitely true in Alamance County, NC. One article I read today from NAR indicated that NC was ranked the #2 state for business, 2nd only to Texas. Considering Burlington's unemployment rate is currently at 13.2%, that's encouraging and promising for the future of real estate.

So here are just a few stats to give you an idea of how the real estate market is doing in Burlington, NC and Alamance County.

Price Range % of Total Sales Monthly Inventory Supply

$0-100,000 31.42% 8.8 Months

$100,000-250,000 64.50% 10.1 Months

$250,000-500,000 7.18% 17.9 Months

$500,000-750,000 .004% 36 Months

$750,000+ 0% ?? Months

Average Closed Days on Market = 133 Days

Average Home Price = +7.1% ($150K)

Median Price = +14.51% ($142K)

As you can tell, homes under $250,000 are definitely what is selling in Burlington, NC. This is true in many areas saturated with foreclosures and short sales. 2010 is off to a good start compared to 2009 and I'm looking forward to a more promising 2nd quarter.

The past couple of months have been busy in Alamance County, NC real estate! Buyers are buying, investors are scooping up the deals, there's plenty of houses on the market, school is near the end and Spring Fever has sprung! And that's a good thing in this "questionable economy". But I have spent a lot of time on the evenings and weekends showing houses and doing Open Houses. Don't get me wrong, I'm not complaining because that's what we do as Realtors, but sometimes, it's nice to just have a day to relax! Being a Real Estate Agent is definitely a job where you could work almost 24/7. Buying or selling a house is definitley not an overnight accomplishment. It takes time. I know a lot of real estate agents, especially those that have been in the business for years say "you don't have to work weekends, you set your own schedule". And that is true to an extent. However, many people work Monday through Friday and can't look at houses except at night or on the weekends. And I choose to be accommodating. It really is about learning to balance life. I sometimes feel guilty for working at night, whether it's working on paperwork or showing houses because I have three small children. I definitely don't want to miss these important years. For me, Sunday is my favorite day of the week with my family. We go to church together, eat lunch with family, come home for "rest" time and then hang out at night. Now that schedule changes of course if I'm working. But on those days where there's no Open Houses, paperwork or showings,.....it's nice to relax and just enjoy life! After all, that's what life is about, right?

So, the current circumstances of the stock market and housing market are affecting the numbers somewhat in Alamance County, NC. Though our local market is not as affected as larger metropolitan areas, we are still seeing results such as 26% less homes sold so far in 2008 than in 2007. With the recent drop in the stock market and bailout issues for Fannie Mae and Freddie Mac, the number of homes sold in September dropped 23% from August. This is the lowest month for homes sold since April 2008. That speaks volumes about how the media is affecting the emotional state of buyers. The average days on market has remained consistent for 2008 but still slightly higher than the average for 2007. Also the number of listings sold dropped 2.6% from August to September. Lastly, the average closing price has consistently dropped since May of 2008.

So, what are you saying?

For Agents, buyers have been indoctrinated with fear from the media and they aren't coming to us. We have to find them. They need to know that it is not only ok to buy, but it's also a great time to buy. Also, we have to be honest with sellers and make sure they understand what is necessary to sell their home.

For Sellers, there are lots of homes on the market. The best way to get your home sold, and quickly, is to take a few necessary steps.

• If it's not a fixer, make sure your home is move-in-ready.
• Your home must be priced to sell (there is more competition and you want your home to be the #1 choice).

For Buyers, it IS a GREAT time to buy! Home values are lower, interest rates are still low and the tax benefits are worth it.

In Burlington, there is still a down payment assistance program for first time homebuyers. This income based program through the City of Burlington makes home ownership a possibility.

Though the numbers may be down, Alamance County continues to be a growing area conveniently located between the Triad and the Triangle areas. I believe change is on the horizon.