The economy is slowly picking up pace and home sales in the Triangle area will hopefully soon follow its lead. The month of January showed that home sales in the Triangle area were slightly down for the month. Durham, Johnston, Orange and Wake counties had a total of 862 homes sold in January, which is down 2 percent from the same time compared to a year ago, as reported by the Triangle Multiple Listing Service.
This time a year ago, the government was offering the home buyers tax credit which helped in the home selling process. Stacey Anfindsen, a Cary appraiser who analyzes MLS data for the Triangle area, had this to say in regards to data we are seeing now compared to last year. "It's probably going to take a full year to get the incentives out of the system, and during that time the comparisons are going to be terrible.”
Mortgage interest rates are still at historically low numbers but are also slowly starting to increase. This increase could cause home sales to rise as those potential home buyers that are on the fence about purchasing a home in the Triangle area, may take the plunge now to avoid having a higher interest rate that is to come in the next few months.
If you are looking to buy or sell a home in the Triangle area, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are a lot of questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.
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