Community Development Affects Downtown Raleigh Real Estate 5/13/2009 - Sarah Tingen What do you think about this? The City of Raleigh is "aquiring" rental homes downtown through a City Owned Housing program and is subsidizing rental rates! The rates for the housing are averaging around $350-$500. The City has an inventory of 170 homes and continues to ensure that reduced rent and "forgivable loans" will be available downtown. Some questions to consider are: If you make less than $26,200 (average Realtor® salary is 25k), you can get a newly renovated home downtown for below average rent! Where do I sign up????????!!!!!!!!!
North Raleigh real estate, Sarah Tingen, Realtor®, e-Pro
Single & multi-family cash-flow investment specialist. My areas of expertise lie within the NC state, North Raleigh, Wake Forest, and downtown Raleigh areas. A Delta Ridge, South Park, Chadwick and Brier Creek neighborhood expert. Raleigh Exit, Exit Realty (919) 441-2837.
Brier Creek May 2009 Real Estate Report
TOWNHOMES
$150k-$300k
|
Currently for Sale |
Sq.Ft. |
List $ |
DOM |
|
2 Bedrooms/2.5 Bath |
1445 |
$180,000 |
208 |
|
2 Bedrooms/2.5 Bath |
1445 |
$159,990 |
98 |
|
3 Bedrooms/2.5 Bath |
2084 |
$260,000 |
347 |
|
3 Bedrooms/2.5 Bath |
2210 |
$300,000 |
11 |
"DOM" = Days on Market
| Recently Sold |
Sq.Ft. |
List $ |
Sale $ |
DOM |
|
2 Bed/2.5 Bath |
1285 |
$169,899 |
$180,000 |
51 |
|
3 Bed/2.5 Bath |
1646 |
$220,000 |
$159,990 |
113 |
|
4 Bed/2.5 Bath |
2162 |
$280,000 |
$260,000 |
131 |
Average DOM for all townhomes currently for sale = 127
Info taken from TriangleMLS, we do not guarantee accuracy
Good morning Active Rain Community:
This is a specific posting relative to the Raleigh, NC (and surrounding areas), Investment Scene.
Q: Are the number of investment properties increasing?
A: The number of investment properties on the market are increasing, but a lot of the homes are still on the MLS (multiple listing service), from last year. These properties need a lot of work.
Q: Are the prices dropping?
A: The prices on single-family properties are dropping. The prices on multi-family investment properties are holding steady. In fact, I think the prices will begin to go up again in the next year. This is because Raleigh does not have a huge inventory of multi-family homes.
Q: How strong is the rental market now?
A: The rental market seems soft but I would attribute that to season. During the spring, summer, and early fall I have a lot of demand for properties around the $1,000-1,300 range. There are a lot of people relocating here at this price point. There is also a huge inventory of "cookie cutter" large apartment complexes.
At a $750-$850 rental rate the max sq.ft. you are looking at is around 1350, and typically these properties are not in the best of conditions (paint and carpet wise). Most of the owner's are negotiating $25-50 off the rental price for a two year lease.
Seller financing (lease option), is a good way to go now for single family rentals. Because prices are down on sales, and the loan qualifications are becoming stricter, this seems like a great strategy to peak interest in an otherwise dead market.
Q: What areas are you personally looking at now in Raleigh for investment?
A: We already own 2 duplexes and 1 single-family property in Raleigh, located Downtown (Inside 440), and in North Raleigh (<2 miles from North Hills Mall).
The areas I am looking at now are south of 440 and southeast of 440 (inside proposed 540 Highway extension).
There are also good deals in the NE quadrant of Raleigh off of Capital BLVD.
I've been fluctuating a bit between single-family investment and multi-family investment. Multi-family investments (long term appreciate and cash-flow), tend to have a better return but I also like the concept of buying a nice single-family property now that breaks even and selling it for 20-30k or more in 2-3 years.
The only problem is that you max out on FHA loans at four properties.
---------------------------
I hope that individuals looking at Raleigh Investment will be able to use this information to their benefit.
If you are considering investing in the Raleigh market I would be happy to arrange a consultation to explain my services.
Thank you for reading!!!
Good morning to the Realtor community!
I just got back from an Exit Realty Convention and passed out and received over 200 business cards.
Some agents would just stop there but I've made it a point to be different and stand out from my competition.
I am following up with all of my referral/networking contacts.
First through an e-mail, and secondly through a phone call.
I had read Jeffrey Gitomer's little black book of networking and employed some of his techniques when I met all of the agents.
I had a 30sec personal commercial telling them who I was, and then made it a point to just stop and listen to who they were, what there interest were, and what motivated them.
I wrote down all of the information I received. For instance, one lady had a horse named Solomon, and I will make it a point to address this information in my follow-up.
Not only will it help her to remember me, but it will also help us to establish rapport together.
Remember, EVERYTHING WILL BE FINE IN 2009!
Looking forward to continuing to speak with you ActiveRain members,
Keep your head's to the sky,
It's up to us to turn the economy around.
Good Morning ACTIVE RAIN!
How is everyone doing today?
I'm currently sitting at the Gaylord Opry Hotel in Nashville, TN at a real-estate conference for Exit REALTY!
I have been amazed at the courage, enthusiasm, and faith that the people in this company have.
It is nice to know that you can still be yourself and do good business.
I'd like to talk a little bit about DISC personalities today.
"DISC is a group of psychological inventories developed by John Geier and based on the 1928 work of psychologist William Moulton Marston"
-Wikipedia.org
There are four types of personality types, Dominance, Influence, Steadiness, and Conscientious.
I also like to call them Dominant, Imaginative, Supportive, and Cautious.
The great thing about this DISC concept is that it really works! There are ways to talk effectively to these different personality types.
I personally am a High D and I with a little bit of C.
But, I don't like to say all those letters together if you get my drift :)
It's been an eye-opener to take my personality profile on http://www.discprofile.com/ . Knowing a little bit more about myself helps me to deal more effectively with others.
I highly recommend you taking the test so you can learn more about yourself!
It will not only help you to become a better agent, but also a better and more understanding person in general.
I will see you guys back in Raleigh on Monday 20th!
 |
|
|
Exit Realty First Choice is owned by Keith Burch, who is also the broker in charge. Our company is built on the fundamentals of integrity and honesty. Our agents define Professional.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
