TRIANGLE HOME SALES DOWN 9%
Triangle, North Carolina. Triangle existing home sales slid 9% in August. During August the sale of existing homes in the Triangle were down 9%. Year to year they are down 1.9%. Unsold inventory is up 20.9%, pending sales are off 15% and showings are down 9%. On the other hand the average home price was up 7.2% to $247,582. Divided up Wake County was up 7.1% to $272,977, Durham County was up 8.7% to $199,729, Johnston County was up 5.3% to $181,348 and Orange County was up a whopping 19.3% to $379,777. As an indicator of what the future has in store, Wake County building permits were down 5% vs. last year while in Durham County they were down 30.3%.
TIP - If you are looking for a good buy in either a new or resale home determine your price range, determine the area you want to live in, check the Days on Market for the available inventory, the price reductions (per MLS History) and the new home incentives being offered. Stear clear of the “you must use our lender” requirement of the regional and national home builders. Also, please be advised that BEFORE you get in the car with me to look at any homes I will require that you talk to my lender to determine what you can handle in the way of a home. While I think he is the best available you certainly are not required to get your loan through him. You are, however, required to talk to him. You need to know what you can honestly handle in the way of down payment and monthly payments and I need to know that we not just going out “joy riding”. Buying a home is not a game it is serious business. I treat it that way and I require that you treat it that way as well.
DOWN MEMORY LANE - When I was Ralphies age I did not lust after a BB gun. My mouth watering slavering desire was for bigger game. I wanted a - - - - Chris-Craft. I knew that unless the blud bird of happiness pooped a golden egg on my pillow my chances were zip but that’s what dreams are for. My dad had a friend who had one and on a couple of occassions I had a chance to ride in it. Also, if you had enough long green you could rent one at the lake. The polished wood, the glearming brass and chrome, the roar of the engine, the rooster tail behind the boat when you took off from the pier, the “look ladies it’s me” (that came a little later) were a thrill beyond simply shooting Black Bart in the rump. THE GOOD NEWS. On Sunday, Sept. 29 the Raleigh-Durham-Chapel Hill-Triangle chapter of the national Antique & Classic Boat Society is having its second annual boat show at Lake Wheeler from 10 a.m. to 5 p.m. More good news. It’s free. THE BAD NEWS. It’s so dry in these parts you have to get primed to spit! Unless we get a lot of rain before the show the city might have to close the lake. Should that happen they will remain tied up along the piers. However, as the wolf might say, “The better to look at them up close and personal my dear!”. For more info try www.vintageboat.org (You’re a piker Ralphie!).
John Fish (919) 696-3474 Email: Marvmax@mindspring.com Website: www.JohnFish.com
