Craziness reigns in Cary real estate.
But, buyers, if you think you are going to score a new home in a great Cary neighborhood this spring, you are going to have to have a plan.
MLS home listing inventory has shrunk, while demand has boomed. Desirable homes, and even homes of questionable value, are popping off the market.
“He who hesitates is lost,” is the fact of life for Cary home buyers right now.
But, “Haste makes Waste” also comes to mind.
So, buyers need to be methodical, and deliberate. And efficient.
Get funding lined up. Proof of funds for a cash buyer. Solid pre-approval letter from a respected lender for borrowers.
Listen to your Realtor. Get those out of the way.
They are necessary groundwork. Once they are procured, you are in a position to make a quick offer when a home clicks.
And, quickness in deliberation is required!
Home buyers are noticing that desirable properties, depleted inventory, and great demand are creating multiple offers daily in the Triangle.
Welcome to the Cary NC real estate market, 2013 Version.
We are seeing homes sold with 0, Zero, Days On Market. The Pocket Listing is back. Sell them before they hit the MLS.
We are seeing showings declined on Active listings, and no response from the listing agent. Et Voila! A contract!
We are seeing homes go under contract before photos are posted to MLS.
Buyers’ agents must sniff out opportunity and be ready to turn on a dime.
Like the ninja of old, it can take legendary skills to complete the task. I haven’t developed the skills of invisibility, time travel, or shape-shifting, but they may come in handy.
More seriously, the market was strengthening for sellers and getting more competitive for buyers through last year, 2012. Then the news broke that Wake County Public Schools would resume school assignment by address. And some areas went into hyper-drive. Davis Drive Elementary School and Davis Drive Middle School are two very desirable schools. Historically, homes with school assignments for those two schools have traded at a premium. Confusion over school assignments for a couple of years defused that demand. Now? Buyers flock to homes in neighborhoods that have assignments for both schools.
I was looking at visitor statistics on my No Hassle Home Search
this morning, and one detail jumped out at me.
With over 20,000 page views so far this month, 25%, over 5,000 of those views were in Photo Galleries. I.e., consumers routinely look at the property photos when surfing the internet to search for homes. And I am sure that other agents generate more traffic than I do.
It is not unusual for potential buyers to email me and inquire if more photos are available for someone else’s listing they have found on my IDX. Then I have to explain the nature of IDX services. And, sometimes I find that the Listing agent has used the tax rolls photo, which is NEVER complimentary to the property. Ouch! for that Home Seller.
Which do you think presents that home better to Buyers and Buyer Agents? I’m picking the top one, the one I shot. And when you multiply those page views I see by the number of agent IDX sites and scraper sites, the impact of poor real estate photos is exponentially increased. Like having a bad product and going international to purposefully gain more bad press on it. Why? Poor photography going viral to diminish property interest? How is that good for home sellers? Lack of photos, poor photos, etc, actually can be one of the worst marketing investments home sellers can make.
QR Codes are a great marketing tool in Real Estate and are popping up all around Cary NC.
QR Codes in Cary NC Real Estate
QR Codes in Real Estate
QR Codes in real estate are a hot item right now. Using QR Codes in real estate marketing is in its infancy, but beginning to gain serious traction.
QR Codes can be used to convey great amounts of information to smartphone users who scan them.
I like the use of QR Codes for offering GPS coordinates, and since most smartphones have GPS capability, that seems like an efficient use.
But one can also use QR Codes to offer purely real estate data and information. A listing agent can connect buyers to photos, flyers, documents, and make it easy for buyers and buyers agents to gather data they need to write an offer on a listing.
So, I am seeing more QR Codes on real estate listings in Cary.
One criticism of QR Codes is their industrial/utilitarian appearance. Some folks call them "ugly." There is little doubt that, with some care, a real estate agent can present an appealing QR Code. They may never be confused with seascapes by Monet, but QR Codes can look better. The video runs nearly two minutes, but “60 Seconds” just didn’t seem adequate:
Cary home buyers who want basement homes often have to compromise. Many select finished attics.
Basement Homes in Cary NC
Basements in Cary NC
Cary home buyers from other regions often are shocked that many Cary homes do not have basements, and buyers agents need to do some explaining.
There are several contributing factors to that situation.
1. Basements are not structurally necessary, so they are luxury priced. We just don't need them. In the north and midwest states, it is necessary to excavate footings 4 to 8 feet below grade to get below frost depth. We only need, by code, to bury footings 15 inches below grade, so further excavation is unnecessary. And expensive.
2. Many Triangle areas have high water tables on site. Water around foundation walls is more likely to intrude into the interior of the basement.
3. Expansive clay soils. Our soils will expand and contract as they get wet and dry. This movement can stress walls, and allow more opportunity for water intrusion.
4. Cost of finish. It is usually more cost effective to convert attic space and finish it than to create and finish a basement. And the home buyers benefit from being high, dry and lit by sunlight.
Yes, you can get a basement in Cary NC. Commonly, it will be a "walk out" basement, also known as a "daylight" basement. one or two walls will be above grade, with exit doors and windows. And the lot will have some slope to accommodate this. Dugout, hole in the ground, basements are extremely rare.
Check out garage dimensions to make sure you can park 2 cars in a 2 car garage in Cary.
Garages in Cary NC
How many cars can you fit into a 2 car garage?
What makes a garage a 2 car garage? Or a 3 car garage?
How can you tell?
The big door in front won't tell you. You can get a pretty big door on a pretty small garage.
We see Cary listing agents marketing 2 car garages, or 3 car garages, for their seller. But, some garages are so tight, it is difficult to imagine parking two cars and being able to open their doors.
Or, as often done in Cary, the water heater is placed in the garage, in the parking space. Or the builder adds a flight of stairs from the garage to the living area, and that flight of stairs encroaches into a parking space.
So, when working as a buyers agent, I take a very close look at the garage layout, the dimensions, and other factors that can impact the utility of the space. And sometimes I will tell my home buyers, "Well, heck. That's a 4 car garage. If you own 4 Smart cars." In other words, you will work hard to park 2 cars in that garage.