So How's the Market?

I get that question a lot. Wake County is experiencing a seller’s market right now. Basically this means that there are more people looking to buy homes than people selling their homes. This is particularly true for homes priced on the lower end of the market-say less than $300,000. This is why you may hear things like “there is not a lot of inventory,” or homes are getting “multiple offers.” That’s because there is more competition for people hoping to buy in that price range. Higher priced homes, however, are not necessarily experiencing the same phenomenon. There are not enough buyers in that category, so more expensive homes may sit on the market for a longer period of time.

What does this mean? For buyers- be patient and start early. You may not get the first home you put an offer on. You should also be prepared to offer more than what the home is listed for, so don’t pick something at the highest end of your budget. Give yourself some wiggle room.

Sellers need to work with their realtors to create a solid pricing strategy. If you price too high, or if your home is worth more, be prepared for your home to not sell immediately. On the flip side, know that at the right price point it may sell in under a week which could put you in a new place in a month or less. Just be flexible and prepare for multiple scenarios!

Azaria Verdin
Why Real Estate? 

It’s the most common question people ask when they find out that I used to be a teacher. Admittedly, it is a pretty drastic career change, but for people who know me it makes complete sense. I got into real estate to help others (and myself a little bit too if I’m being completely honest) because I know how life-changing it can be. 

 At the age of 25 I bought my first house. At the time I was single, broke, and knew nothing about home ownership. All I knew was that I was probably going to have to move. When I started exploring my rental options online, one click of a button opened my eyes to the fact that I may be able to save money by owning a house. “The rent was too damn high” for me to afford on my teacher salary, but I learned that if I played my cards right I could actually afford a mortgage. 

 So I bought a 3 bed 2.5 bath townhouse that was a foreclosure in pretty good condition and found two roommates to help cover the cost of utilities. Not only did we all live pretty cheaply during the time we were together, but we also had a blast. That house, affectionately dubbed “The Unit,” ended up being a place of community, growth, and peace for us. I no longer own that home, but it will always have a special place in my heart. 

 All things considered, I don’t think real estate is the magic bullet some people claim it is. Robert Kiyosaki made it plain that if you live in the home, you shouldn’t even consider it to be an investment. However, if you can find something that meets your needs, is affordable, and you absolutely love, it’s 100% worth the time, effort, and money. In the end, owning a piece of property is priceless.  

Azaria VerdinComment