Tracy Santrock-Cary NC Real Estate Realtor

Relocating to a new town can be scary for just about anyone.  New friends, new Doctors, new grocery stores, new schools, a new routine all together.  I know that if I was thinking of moving to a new town I would get on the internet and do research on the different areas.  Many of my clients have done just that and found out about Cary, North Carolina on the web.  They heard it was a great town and decided to check it out online before taking the big plunge to make the move. 

Here are some important questions that buyers ask me on a regular basis that I thought I'd share with you on relocating to Cary, North Carolina. 

What are the schools like?

Cary schools are a part of the Wake County Public School System and continue to rank as some of the highest rated schools in Wake County.  Many are still on the traditional school calendar also.  The Triangle area is also home to several major universities and colleges. 

What's the weather like?

I grew up in Dallas, TX and I always talk about the Four Seasons here in North Carolina.  I love the outdoors and, year round there's always something blooming in Cary.  Our temperatures are seasonal, but moderate.  We are lucky enough to escape the extreme cold winters characteristic of the North, and does avoid the drastic heat in places like Texas and Florida.

Winters are short and mild, arriving in mid-December and ending by early March. Snow and sleet are recorded once or twice a year, but seldom to the extent that it accumulates. Children are known to get very excited when snow is in the forecast, anticipating a day off from school.

Because I love to garden, Spring is one of my favorite times of year.  The weather is moderate and all of the flowers begin to bloom.  Some of my favorites include dogwoods, redbuds, azaleas, daffodils, and tulips to name a few. Spring continues through April with temperatures in the high 60's and low 70's.

July can get a bit hot and sticky.  As a result many residents flock to the beaches of the mountains. There are days where temperatures reach well into the high 90's.

Fall is my favorite time of year.  The leaves change, the weather cools off, and it really gives families time to enjoy the great outdoors.     

What is the job growth like in the area? 

The National economy is currently in a state of turmoil, and, although job growth has slowed, the Raleigh-Cary area is No. 2 on a new list of metropolitan areas that are creating and sustaining jobs and economic growth.  Raleigh-Cary came in No. 1 for job growth between March 2007 and March 2008.   In the past five years the Research Triangle Regional Partnership set a five year goal to create 100,000 jobs in the area and they are on track to succeed.  Their next project to sustain growth is being touted at "Staying on Top 2" with the intent of continuing the success achieved in the past five years.  Although corporate growth has slowed since April there are 44 new potential businesses that would generate $1.6 Billion in revenue and another 15,000 jobs.   

What is the cost of living like and how much can I expect to earn?

Many clients that visit the area expect to get a lot more for their money than where they are coming from.  In most cases this is true, however, the popularity, national exposure, and Cary, NC's proximity to RTP home prices in Cary, NC have continued to steadily appreciate even with the current real estate market conditions. Most of my clients also want to know about taxes and insurance.  Real estate taxes are reasonable right at 1% of the assessed tax value.  In Cary real estate assessments are done every eight years. North Carolina Income Tax varies based on income with the maximum rate for incomes over $120,000 at 8%.  North Carolina Sales Tax is currently 4.5%.  CNN Money has a great calculator that compares one cities cost of living to another.  It's a great way to compare where you're living today vs. Cary, NC.  Cary, NC has the highest median household income in Wake County ($89,623) and more than two-thirds of Cary residents hold a college degree. 

What will my commute be like?

In most cities if you live in the suburbs you will commute from your hometown into the "big city". In my area that would be Raleigh.  In the Triangle area residents commute  into the RTP (Research Triangle Park) area rather than downtown Raleigh.  Now that the widening of two major alternative routes to I-540 (HWY 55 and Davis Drive) has been completed the commute into RTP is a quick 10-15 minute drive to the major employers in the area.  Cary is also a quick commute to the RDU Airport and the 3 Major Universities in the area. 

There are a number of other considerations to think about when moving to new town.  Thank you for stopping by and taking a look at Why I love Cary, NC!  If you would like more information on the area view a longer video on the triangle here produced by Fonville Morisey or visit my website for more information.

I had an Endotontist appointment today with a Dr.  recommended by my current Dentist.  They think I need a root canal! Yuck!  I went to the appointment today and as I walked through the lobby I noticed an LSU Medical School diploma on the wall! Hot diggity! I like him already.  He's an LSU alumni too.  

I anxiously waited in the patient chair!  We all love being told the grim news about root canals.  The Dr. walks in and says I heard we have something in common and I think you might understand my language and he says, "Hot boudin, cold coush coush, come on Tigers, poosh, poosh ..."   

Aww memories of my college days gone bye.  I can't tell you how much fun I had at football games in "Death Valley" in college.  You'll have to send me a private message to find out when I went there.  The LSU/Auburn rivalry dates back to the early 1900's and will continue on for generations.  I just find it's amazing that when I run into alumni we have so much in common.  Here's to my Alma Mater - The LSU Tigers!  May they beat the Tar out of Auburn this weekend!

It's that time of year again - the time when the market slows down a bit, the kids are back in school, and we get to take a look at where the market has been and where it's headed.

What is going on with the real estate market in general?

Gas prices are at an all time high, lending institutions are in total disarray (most recently we can point to the bankruptcy of Lehman Brothers, aquisition of Merrill Lynch), the US housing market is in serious trouble in a number of areas in the country, and the stock market itself was expected to recover with the housing market and that just hasn't happened. Our residential real estate market depends upon the free flow of buyers and sellers. Our market is currently stuck as many inbound transferees cannot sell their out of state residences, many of our outbound transferees cannot sell their local residences and there is a crisis of confidence among a large portion of potential buyers which is playing a role in the ability to sell. While we continue to be praised nationally for strong job growth and a healthy economy the most recent update is that our market, especially in the high price ranges, has taken a beating.

How do sales this year compare to the banner years?

2006 was a banner year in Wake County. Sales were at an all time high. I thought I'd include numbers from the MLS that indicate the change in the market year over year for your reference. Comparing August 2006 numbers with August of 2008 numbers the changes are quite dramatic:

• Supply of homes on the market is up 28%
• Number of homes under contract is down 41%
• Number of homes closed is down 44%
• Average Days on Market are up 27% (83 DOM vs 65 DOM in '06)

• The average supply in the Wake County area is running at 8.7 months supply. This is a significant change from the 3.7 months that we saw back in August 2006 - up 138% during this timeframe.

What about market appreciation?

Fortunately, in this area, we have not had the run up in prices experienced around the rest of the country which has helped maintain some stability in sales and pricing. And, appreciation rates have remained stable in Wake County at 4.5% vs. -4.8%% for the rest of the US in 2008.

Here are some additional market variables that a seller must consider before selling in the current market:

• Higher inventory and fewer closings have produced an oversupply of inventory in all price points above $450k
• Price reductions are up: There has been a 73% increase of sellers taking price reductions

Is there any good news in this segment?

As you can see from the change in price reducations recently it's clear that sellers are finally realizing that Wake County Real Estate is now a buyers market. Up until this fall I had a hard time convincing my sellers that the market had shifted and that, to be competitive in this market, you have to be priced in the Top 3 along with having all of the other wonderful attributes and updates needed to sell a home today. Hopefully the bailout of Freddie Mac and Fannie Mae and the competitive mortgage interest rates will help more Wake County home buyers step up and buy a few homes! Now is a great time to buy in Wake County.

Related Posts:

Wake County Market Absorption Rate - Q32008

Looks like I was right ahead of the News and Observer article on the market along w/remarks from our very own Stacey Anfindsen.

Do they really mean anything?

What do they tell you about a community?

I believe Ratings are important and do give you a real sense of what's going on in the area. I've written several posts on the Raleigh-Cary, NC area because I absolutely love where I live, work, and play. Just last month I wrote about Why I love Cary, NC . And, here is a post I wrote earlier this year called 2008 Triangle Accolades - The list keeps growing about the many accolades that have been bestowed upon the Triangle.

It looks like I'm not the only one singing the Triangle praises. The secret is out and the Raleigh - Cary area has been discovered. There are over 18,000 people moving into this area on a year-to-year basis. I decided to write this post today because The Milken Institute just released their Best Cities for 2008 and the Raleigh-Cary area came out #2!!! I'm not sure why they chose Provo, Utah as number 1 but I'll get over it. The list also puts Wilmington at No. 6 and Durham at No. 21. Among other North Carolina metros, Charlotte ranks No. 26, with Asheville No. 46, Winston-Salem No. 99 and Greensboro No. 141.

In my next post I'm going to write about the many things that my clients look for when they are moving to the area. I truly believe this area has it all. So, if you are considering a move to North Carolina or the Triangle area give me a call - we have a lot to talk about!

Revolving List of Triangle Accolades

Wake County Accolades

Forgive me for not running around in the Rain this week.  My grandfather, D-John(which is short for Daddy John) passed away after a long illness with Alzheimer's.  My grandmother asked for me to be the family spokesperson at the funeral! Wow! What an honor.  My grandfather was an incredible human being - someone I admired dearly.  Here is the eulogy I delivered - If I have a chance I'm going to upload the video that played while we were at the funeral. 

My beloved grandfather, John F. Santrock, was a man of many talents, and his sphere of influence reached far and wide, as can be verified by the number of people here today. How could you not like John Santrock? If he had an enemy, I never knew it. When one reads his obituary, the question to be asked is, "How did he do it?" He has left us a legacy of good works so grand that it is hard to comprehend where he got the energy. Yet he accomplished all this with such gracious humility. 

First he was a war hero.  My grandfather served his country with pride in WWII.  As a kid I vividly remember D-John telling me about the WWII invasion that followed the attack on Normandy beaches just a month after D-Day.  I was absolutely fascinated with the fact that D-John had been shot (9-11-1945), captured by the enemy, marched through the streets of Berlin, and still managed to escape by walking through Russia to safety in Poland. D-John received a Purple Heart for his bravery.  

D-John lived his entire life in Nitro, WV and was a patron of the community.  D-John loved his small town and loved the people of West Virginia.  D-John would often tell stories about his alma mater, Marshall University, talk about the great athletes from WVA, and of taking dad and Shauna to tennis tournaments in Wheeling, WV.  As a life long teacher and educator D-John's students and teachers all benefited from his talent, vision, and caring. He loved to be around people from all walks of life to, teach them, learn from them, and to share his life's experiences. Everyone in town knew my D-John - his kindly manner, genuine caring, and good natured attitude.      

D-John was a man of few words and a wonderful listener.  He never interrupted the flow of a person's thoughts, and when someone was speaking he gave his full  attention. He made everyone he came into contact with feel important, because he gave the sense that he valued the input of even the least person in the world, because he believed in the worth of others, and saw no reason for placing himself above them.  Towards the end he really didn't say much, but when he did say something it was always something of true meaning.  

Most important of all D-John was a devoted family man.  My sister Jennifer and I were lucky enough as kids to spend a lot of quality time with our grandparents. We lived in Texas in the winters and would spend the summers in WVA.   It was like a great vacation for my sister and me.  We always felt at home with Mama Ruth and D-John.  We still do.  

D-John, a man of incredible coordination and gifted athletic talent, he was skilled at golf, bowling, tennis, ping pong, pool, and just about every sport he picked up.   I remember going to the club with D-John and having him play tennis with me day in and day out.  The way he played tennis exemplified his approach to life in general. He was consistent and kept every ball in play. His greatest strength in tennis was his determination to get every ball back no matter how hard it might be to get to it. Once when we were playing I hit a strong shot down the line and was so confident that I had won the point that I raised my arms in a sign of victory. As I did this, the ball came flying back crossed court for a winner.  I'm considered to be a pretty decent player but I never beat D-John.  On another noteworthy occasion D-John visited our family in Texas and we decided to go bowling.  D-John downplayed his success at sports in general and told me that he hadn't played in over 10 years.  At 70 years old D-John beat us all with a score of 180+! Now that's what I call talent!  

D-John was always there for us.  As my sister and I were growing up in Texas D-John devoted time to his family and taking my sister and me to countless tennis tournament's to help us be the best we could be.  In the summertime we played in the Western Open in Ohio and stopped at the Football Hall of Fame.  Each year we played in two big tennis tournaments in Texas - the Texas Sectionals in the Fall and the Houston Coca-Cola Open in the Springtime.  Mama Ruth and D-John came to every match and patiently watched us play - always supportive, encouraging, and confident in our success.  When we were down and out he told us to get back up and keep on trying. It wasn't the end of the world - we would live to play another day.   

D-John also had a love of flowers and gardening.  Each summer I visited I would admire how D-John carefully tended to his beautiful garden.  He patiently explained that the flowers didn't flourish magically, that they required a daily effort of nurturing, watering, and caring for them.  Since I showed interest, and D-John being the consummate educator, he told me all about the Hydrangeas, Chrysanthemums, daylilies, and other varietals.  To this day I remember the things he taught me and use them in my own garden.    

I'm sad that D-John's no longer with us. But I am grateful that he's not suffering any more and I'm especially grateful for all of the years I had with him.  After surviving the war and coming back to the states he lived such a bountiful life.  To be able to see his children flourish, his grandchildren grow up to have families, and even to see his great granddaughter preparing for college.   I believe he was truly blessed. 

So as we commemorate his life, we celebrate the legacy he has left us. His legacy is in his family and his friends. His legacy is the people that he has helped, and in the lives that he has touched. He has left us his legacy as an admired war hero, community servant, athlete, and a family man.  And now this history is in our hands to carry on where he left off.

 May he rest in peace forever.

 This article ran in the Charleston Gazette on 9/14/2008 about my grandfather.