Cary NC Real Estate >> Raleigh & Cary NC Real Estate Blog

I don't believe in New Years Resolutions.  They always end up as broken promises a couple of months down the road.  Instead I've tried to keep a positive mindset by setting goals each year and evaluating the goals at the end of each year.   Through trial and error I've found that there are techniques that will increase the chance of achieving ones goals.  

I don't know about you but I know that I have to set short and long-term goals in order to achieve success.  Clear goals are essential for a successful career and happy family life.  I'm not the only one.  All successful people do it.  Ok, so I've waited until the very last minute to get going on my goals for next year.  My bad but I'm getting there.    

In thinking about my goals for 2008 I keep coming back to a few overall keys to success that I'd like to share with you as I close down the books for 2007 and get ready to gear up for my 2008 Goals: 

1. Goals need to be clear, concise, quantified, and achievable.
   • For example, if I decide to set business growth as a goal I would then take it a step further to say that I want to grow my business by $5M in Sales by year-end.  Then I'd break it down even further to say how many additional houses I would need to sell and also come up with a plan to market, sell, and list those homes.  Our market has slowed a little so I also have to be realistic about setting expectations for the upcoming year. 
2. Goals are not really goals unless they are in writing.
   • Did you know that the single act of writing your goals down increases the chances of achieving them by 1,000%? Yes, that's right! You can increase your chances of reaching your goals by 10 times just by writing them down.
   • I find that by writing down my goals they gain power.  They become a part of me. When I write down my goals it's like drawing up a contract with myself. It forces me to commit myself to my goals.
3. Goals should be imprinted in your conscious mind.
   • The stronger my goals are impressed in my subconscious mind, the more I try to achieve them and the better chances I have of accomplishing them.
   • The more often that I visit my goals the more likely I am to achieve them.  Goals were not meant to be visited at the beginning of the year and then pulled out at the end of the year.  I keep my goals close at hand and visit them regularly to make sure I'm on track.  

So, what are your plans for 2008?  Have you written your goals down for the upcoming year?  What are some of the goals that you have in store for the new year? 

Thanks for stopping by and have a wonderful goal setting day!

**Photo compliments of Flickr**

Yesterday I attended the unveiling of the Villas at Del Webb.  Needless to say I was very impressed with the turnout and how well organized Pulte was for the introduction.  Several homeowners volunteered to get the word out on what a great community Del Webb is becoming and Pulte does a fantastic job of marketing to Seniors.  I've learned quite a bit about Seniors through attaining my SRES designation and also working with this market segment. 

Why are so many retirees moving to North Caroina?  North Carolina is becoming the new Florida.    Many people who planned to move to Florida for their Golden years have now moved to North Carolina instead.  Several reasons my clients have decided to move to North Carolina include lower insurance rates, low taxes, affordability, and with the increase in global warming the state is quite pleasant but not unbearable during the summer months.  The boom in this market sgement doesn't seem to be showing any signs of ending any time soon, despite an overall slow down in housing sales. For example, I think there were 300-400 people that attended the Del Webb unveiling yesterday.  My husband commented that Pulte is brilliant to capture the change in this market. 

North Carolina is NOW the #1 retirement destination in the U.S.  In addition, Raleigh is one of the top 10 cities in the U.S. to relocate to, which sent Raleigh's real estate market reeling on a steady course of appreciation but not uncontrollable. The median price for a home in Raleigh is $239,000 and it is forecast to appreciate a strong 5.9% in 2007, according to Housing Predictor. Raleigh offers older neighborhoods, which are steeped in southern tradition mixed with new housing developments.

For additional articles regarding Active 55 communities and some of the trends in the area please visit previous articles that you may find helpful.

• Active Adult Living In High Demand in the Triangle
• What have you done to gain business with your SRES designation?
• Active 55 in the Triangle - Top 10 New & Affordable
• Active Adult Living In High Demand in the Triangle
• Tax Advice to Maximize Deductions, Minimize Pain for Seniors 
• Retirement in Wake County NC - Triangle Active 55+ Communities help older adults stay active & involved
• Best Place to Live for Retires in 2006 -Raleigh, NC #4 and #3 Best Place to Reinvent You Life

I've also spent some time at Carolina Preserve watching the community grow and develop in a short period of time. 

• Carolina Preserve by Del Webb Active Adult Living Community in Cary, North Carolina
• Amberly in Cary - A Hot New Community in Northwest Cary
• Carolina Preserve by Del Webb March Homesite Release
• Carolina Preserve by Del Webb Construction UpdateCarolina Preserve by Del Webb Celebrates Anniversary of Model Homes

Links to Seniors Resources for Your Reference:

• Seniors Resource Guide
• SAREC
• Long Term Care Planning - Price Quotes
• Medicaire
• AARP
• Talking w/Parents about Health Coverage
• Kiplinger's Your Family Records Organizer
• Area Agencies on Aging
• The Five Wishes
• Reverse Mortgage
• Helpful Seniors Links - Nationwide

If you are interested in relocating to the area I'd love to lend you my expertise as a top notch Seniors Buyers Agent.  Contact me at Tracy@TracySantrock.com.  Don't worry there are quite a few pictures in the links included in the email.

 Our new Mayor Harold Weinbrecht has started a blog.  I'm not surprised.  Between Cary being nicknamed Technology Town of North Carolina and the fact that Harold is very well educated, worked as a software developer for the largest software firm in the area - SAS Institute, it's par for the course. The primary reason that Harold ousted Ernie McAllister is that citizens felt that the pace and quality of growth in the Triangle's third-largest city wasn't being managed effectively.  Harold campaigned on a more "controlled" growth policy and had a large group of constituents that promoted Harold via the internet.  See previous post I wrote regarding the controversial election that gained national attention.

At Harold's blog he actually encourages other elected officals to start their own "journals".  What a fantastically progressive way for a Mayor to reach out to the citizens that elected him.  Harold plans to post entries in his blog weekly - I know I will be keeping a close tab on the blog and will frequently update my readers on the Mayor and his progress. 

Here are a few highlights from Harold's first post regarding meetings that he has had since the election(Harold didn't take office until December 15th):   

• An indication that impact fees might would increase to control the rapid growth in the area
• An indication that the development process may change based on concerns from the developers ·   
• Patrick Barnes, Chatham County Commissioner, expressed many concerns about the Western Wake Wastewater Facility (which is in the review process)      
• Ron Margiota, with the Wake County School Board, discussed the constant reassignments and year round issues that have plagued Cary residents.  
• Meeting with several forums including DDH (Davis Drive and High House), Cary Democrats, Wake Democrats, a homeowners association, and at the TCC (Triangle Community Coalition) Forum

Harold has been awfully busy for a Mayor that hadn't even taken office!! As a licensed Realtor I am a strong advocate for growth and was initially skeptical about how the change in the Mayor's office might impact my business.  It seems, thus far, that Harold is open minded and is hitting the ground running. 

If you would like to visit Harold's blog click here.

On your left is a photo of my dog Maggie.  I call her my "Goofie Girl".  She has allergies and a fettish for shoes, pants, underwear, and "people food".   Regardless of the challenges posed by Maggie, she adores us and we adore her - at least most of the time. 

I thought I have a ton of energy but Maggie has even more.  That is why Maggie's vet told us about Town & Country in Apex.  Town & Country's website talks about the services they provide for dogs that have special needs.  That's my dog. 

Just as I want the best for my child I also want the best for my Maggie.   Town & Country offers a variety of services including boarding, grooming, training, and daycare.  Maggie has been to the Town & Country obedience classes several times but somehow she has succeeded in failing the beginner training class on more than one occassion. 

Besides the training Town & Country offers a drop off service for dogs that they call doggie daycare.  Doggie daycare seems to cure Maggie.  There's nothing like dropping your dog off to play with several other hyper labs for up to 8 hours.  When Maggie gets home from daycare all she wants to do is hang out!!  Watch a video of the daycare "playtime" service here.  During the spring and summer months the dogs have an opportunity to go to the beach, Paw Beach that is.  The link above is a link to of the doggies playing at the beach.

If you decide to board your dog at Town & Country book ahead especially during the holidays. Town & Country offers luxury pet services like sofa time, tv time, and playtime.  I'm not kidding!!

If you live in the Triangle this facility is the best in the area, in my opinion.  If you don't check around with a few of your friends.  You may be lucky and they will have a facility in your area. 

P.S.  I clicked on the video links and good 'ol Maggie had to get in a couple of barks to let me know she really likes Town & Country and that she hasn't been back in a while.  Time to take Maggie back to her hold stomping ground to catch up with her pals.   It's too late to drop Maggie off today.   Maybe I'll just settle for the dog park instead since my Maggie deserves the best. 

If you're an investor in the stock market (which I am) and eagerly expected the 0.5 point interest rate cut today to have an impact on your investments you may be in for a shock when you look at your account this evening.  Good old Ben Bernacke decided to cut interest rates by 0.25 point to 4.25% instead of 0.5 point and stocks took a tumble in late afternoon trading to the tune of more than 290 points!!!

Doesn't the FED recognize a few signs that the economy is slowing?

• Real estate inventories across the country are at an all time high
• Foreclosures across the country are anticipated to skyrocket
• Bush's plan to freeze subprime mortgages is a start but the freeze will only impact the most "credit challenged" of them all.

The squeezing of the credit market will also create challenges in the real estate market as we move into 2008.  Earlier this week Lenn Harley wrote about FANNIE AND FREDDIE REDEFINING THE MEANING OF "SUBPRIME".  In Lenn's post, and in my meetings w/my preferred lender, it is clear that the subprime market of old is gone and lenders have tightened the clamps on their wallets.  Buyers with less than 30%, yes 30% down, and credit scores that aren't stellar will have to pay a "premium" interest rate.  In effect, causing consumers to have less cash in their wallets to help the economy along. 

Why was this rate cut so important?  An aggressive rate cut by the fed would hopefully help the credit and mortgage crisis.  When the FED dropped the rate only a quarter of a percent it had a negative psychological effect on investors and consumers.  They were looking for serious signs that the FED recognized the economic woes and would work aggressively to keep the economy from going into a recession. 

What is your opinion on the rate cut? Too much, too little, on target?

Eeny, meeny, miny, moe - Builders are offering fire sales in this area for standing inventory if you can pull out your checkbook and close by year-end.  This is when you make sure your Realtor is working for you.  A Realtor is your best asset in terms of knowing when to buy, when it's a buyers market, when to push the Builders for incentives, and what builder incentives to push for.  Let me repeat:  This is the time of year when the builders will give buyers a better price to unload their standing inventory. 

In the past few years the growth spurred by the Triangle has spawned Builders to continually increase the number of homes being built in this area.  Since inventories have been low and the number of people relocating to the Triangle has been strong there has been no need to reduce prices on area homes.  If you bought a home as recent as this summer the builder was probably unlikely to offer closing costs or a price reduction.  In Here is the scoop on the Luxury Home Market in the Triangle, I provide details on the increase in New Construction and Resale inventory in the Triangle.  Anytime you have an increase in inventory and a move towards a buyers market you tend to have sellers more willing to negotiate. 

Here are a few examples that I've run across just in the past week or so with my clients:

• Avalon Springs in Fuquay Varina, NC $5000 Visa Card for my clients and $1000 Realtor Bonus - Local custom builder
• Sunset Oaks in Holly Springs, NC $15,000 Builder Allowance for any pre-sales - Another local custom builder
• Pulte Homes - Sutton Place in Apex is offering 10% off the list price* and the social membership initiation fee to Prestonwood Country Club in Cary, NC
• McCar Homes & Olde South have been offering 1/2 price on designer options.
• Drees Homes has over 20 homes that are complete in the Triangle and ready for move-in.  They have not stated the incentives up front but I know a bit about their pricing strategy. 
• Chapel Ridge, in Chatham County, is offering NO PAYMENTS for 1 YEAR* and 8% Realtor commisssion.
• Cameron Pond, in Cary, has so many homes for sale that some of the resale homes are being offered lower than the purchase price with custom shutters, surround sound, and other upgrades made at the time of move-in to sell the home.

Generally, as a rule of thumb, our market picks up in the spring time, and with interest rates poised for a possible rate cut yet again today, the incentives and inventory may not last long.  If you have any questions about the promotions feel free to call me or visit http://www.trianglenchomes4sale.com/

I'm asked all of the time about how the real estate market is doing in my area.  I indicate that we have had two markets in 2007.  The market from January through July and the "new and improved buyers market".  Our market has changed dramatically in the past few months - inventories are climbing, homes are staying on the market longer, and it seems that the abundant supply of buyers has all but disappeared. 

As I was writing an offer this morning and counciling my cilents today I realized that my "lingo" has changed considerably since the first half of the year.  Earlier this year many homes would sell in less than 30 days and we would see multiple offers on homes.  If the location was right and the home was priced to sell the houses all but sold themselves. 

Since the market has changed(especially in the higher price ranges), I thought I'd do a couple of things:

1. Let's PLAY A GAME TODAY called NAME THAT PRICE. It's much more fun than work!! Share with you some of the things that I'm doing for my clients to make sure they get the best "deal" possible.  Keep in mind this is a real live scenario for learning purposes.  
2. Share with you some of the data I gather to come up with the right Ts & Cs. OF THE DEAL.    Let's get started. 

Home Information:  4 Beds, 5 Baths, 1 Half Bath.  4600 Square Feet.  Builder:  John Wieland.  Great location in the heart of Cary. Many of the homes located around this neighborhood are built in the mid-90s and are outdated.  This home is a Former Model Home built in 2004 w/lots of extra upgrades.  All brick. Gourmet kitchen and hardwood floors throughout 1st floor.  New Carpet.  Finished third floor features built in cabinetry with beverage cooler and bar sink; full bath and kids study/play area. 1st floor Study/bedroom. 3 car side entry garage. Pool/Clubhouse. Small backyard. 

More Details:  The home that I'm writing the offer for today has a list price of $784,900 reduced from $799,000.  DOM 88.  Buyer will be paying cash for the home, no contingency, and willing to close before year-end. 

1.  Know your inventory  There are 37% more re-sale listings in the Luxury Home segment this year than last.  21% of all Luxury Home closings in the Triangle this year occurred in the Cary/Apex/Morrisville market.  The average days on market for luxury re-sales is 80 days and the average for luxury new homes is 115 days. The subdivision that this home is located in is the Top 20 for closings in 2007(17).  Average Price closed in this subdivision:  $792, 263.

2.  Research Days on Market The overall market has an average days on market of 75 days, the average for the luxury segment is 97 days. For the Cary/Apex/Morrisville market in the Luxury Home Segment the average supply of inventory is 8 months and DOM = 57 based on Q32007 data. This home has been on the market for 88 days.

3.  Watch for price reductions  In this market sellers are showing willingness to negotiate on price.  At the end of 3Q ‘07 there were 664 sellers who had dropped their price compared to 389 at the end of 3Q06. 

4. Check showings in that price range  I belong to one of the largest agencies in the Triangle(over 800 agents) and we have a program that go in and check Agents Showing Property in a particular price range in a particular area.  The only caveot is that its my agencies showings.  For homes in all of Cary there were only 18 homes in the past week that were shown above 700k.  Further, all of the showings were for 2 homes that had both been drastically reduced in price.  With 100 homes above 700k on the market that's pretty bleak!! Oh yeah, and ammunition for my buyer. 

5. Check the List/Sales Price ratio Average resale price at closing 97% of List Price in the Cary/Apex/Morrisville Market.  Average List/Sales Price in this subdivision is 99% of list because the majority of the sales in this neighborhood were new construction. 

6. Request Allowances & Credits  Here are some of the things I ask for on a regular basis:  If the client is getting a loan ask for closing costs, quick turnaround on the offer so a decision will be made, a home warranty, window treatments, appliances like the refrigerator and washer and dryer, stuff you don't want that you can use as leverage at a later time--the list goes on.

7. Get creative with the financing My agency is offering a "Buyer Select Program"  that provides buyers with a free home warranty if they use our lender.  In addition, they are getting the sellers to offer things like 6 months of P&I, permanent buydown on the interest rates, and even a tiered buy-dow structure. 

There are lots of options here.  Based on the buyers confidentiality, if the deal goes through, I will not post the results until the house has closed.  If the deal falls through I will let you know where we landed sooner. 

I absolutely love Sunday brunch - it may be my favorite part of the weekend. It's certainly my favorite weekend meal. At home or in restaurants, brunch memories are important to me. 

What is it about brunch that arouses such warm feelings?  Maybe it's the idea of the late morning meal itself; almost time for lunch so I'm good and hungry, but still legitimately morning, enough, to crack open some eggs and get some bacon sizzling.  Ahhh, and the aroma of the freshly poured cup of coffee. 

There's something almost primordially comforting about brunch. The savory smells of cheese melting into an omelette, with smokey ham or bacon layered in, can arouse my lumbering husband out of deep hibernation. And happily helping mix fresh berries into pancake batter clearly gets my family feeling that they're contributing to their contribution to the food pyramid. 

I'd like to share that comfort with my family this Christmas.  My parents are coming to visit for the holidays and they just love to dine.  With that in mind, we've decided to treat them to brunch while they are here.  We have several choices for brunch in the Triangle - some casual, some not.  It's your choice to experience the different flavors of the Triangle so I've broken them into three categories: 

1.  Easy Living- Casual Dining

Elmo's Diner
776 Ninth St , Durham , NC , 27705-4803

2. Mid Tier- More upscale but still casual

Courtney's Restaurant
407 E Six Forks Rd , Raleigh , NC , 27609-7829

Fearrington Market Cafe
1 Fearrington Post, Pittsboro, NC
More casual than the fancy Fearrington Restaurant, this quaint cafe doesn't skimp on style or flavor

Brigs Great Beginnings
8111 Creedmoor Rd Ste 169, Raleigh, NC
Specializing in gourmet omelets and golden hot cakes, this eatery raises the bar on breakfast food.

High End- This is best of the best

Herons

What a wonderful addition to the Triangle.  Finally, a restaurant in the same class as restaurants in New York, Boston, and other top dining cities.  The setting is spectacular and the location is convenient to all areas of the Triangle.  I forgot to mention that the service and meal is in a different category than all other restaurants in this area.

Washington Duke

Jazz Brunch is served on Sundays from 10:30am until 2:00pm.  The setting is quite elegant, the decorations during the holidays are outstanding, the service impeccable, and the meal delectable. 

And if you want to bring home breads for Sunday's breakfast my friends Missy & Lionel at La Farm Bakery (4248 Cary Parkway, Cary, 657-0657) will offer the best  hot cross buns, yeast rolls, linzer challah, and a huge selection of tarts and breakfast stratas that are to die for.  PS.  They also provide bread to Herons at the Umstead too!!

City: Holly Springs, North Carolina

Address:  South on Kildaire Farm Road, Right on Holly Springs Road, Left on Sunset Lake Road, Wescott is .5 miles on left. 

Neighborhood Facts:

• Established in 2002
• Price range is $400k- mid 600ks 
• 2500 - 4300 Sq. Feet w/some unfinished basements
• Custom Built Single Family Homes with a variety of styles and architectures
• Community is selling its final homes based on new construction

This community, established in the mid- 00s has over 200 Single Family Lots and is brought to you by the award winning Community Properties, Inc.  The all custom builder team represent the best in the Triangle area in this price range. This neighborhood has a wonderful location a reasonable value for the area. 

Builders: Legacy Custom Homes, Robuck Homes Triangle, Inc.,, CityScape Builders, Inc., JKL Custom Homes, Ange Construction Co., J.Wayne Massengill Builders, Homes by Dickerson, McDuffee Builders, DJF Builders, Inc., Sutton Homes, LLC, Reward Builders, Inc., Gala Homes Ltd.

Amenities:  Private Swim center and bathhouse; sidewalks throughout

Schools: Check Wake County Schools website for the latest school assignments. 

Taxes:  1.164% of the Assessed Value; Click here for more details.

For current listings in Wescott click here.

For more information visit the Wescott website which has a lot more information on the neighborhood including a neighborhood newsletter and community board.

Related Posts:

Holly Springs, NC Real Estate & Community Profile

Holly Springs, NC - Did you know it's the Fastest Growing City in North Carolina?

Holly Springs, NC Real Estate Market Conditions

Apex, NC & Holly Springs, NC Make Money Magazines 2007 Best Place to Live

or my website at http://www.trianglenchomes4sale.com/. 

Your Realtor,