Here are eight tips about the Raleigh, RTP, and surrounding communities real estate market place.

1. THERE’S NO SUCH THING AS A NATIONAL REAL ESTATE MARKET    
If you read the newspapers, it’s easy to get the idea that real estate markets are the same everywhere. If conditions are bad in Las Vegas, most of Florida, California, and New York, they must be bad everywhere, right? Wrong! All real estate is local. When you’re looking to buy or sell, pay attention first to sales price trends, volume and inventory in your target market or region, rather than to misleading headlines about national sales trends.    
   
2. NORTH CAROLINA HOME VALUES ARE STABLE.
The average sales price of a North Carolina home grew by 4 percent in 2007, an indicator that homes generally are still worth more now than they were just a few years ago. In fact, since 2000, the average home sale price in our state has risen by more than 25 percent. And in 2007, North Carolina had the seventh-highest Appreciation in home prices in the country.

3. IT MAKES SENSE TO USE A REALTOR    
If you had a $200,000 legal question, would you handle with it without an attorney’s assistance? If you had a $200,000 income tax issue, would you dare risk not consulting a CPA? Realtors subscribe to a strict code of ethics and are expected to maintain the highest level of knowledge of the process of buying and selling a home.    

4. NOW REALLY IS THE TIME TO BUY
Interest rates significantly dropped recently in an effort to stimulate the national economy. While North Carolina’s economy hasn’t suffered as much as some states, we nevertheless can benefit from these lower interest rates. The bottom line is this: If you’re a buyer, this market is for you!
           
5 IF YOU’RE A SELLER, BE PATIENT AND SMART
Price your home correctly – your home’s value is what someone is willing to pay for it, not the price that you think it should sell for. Competitive pricing is the single biggest reason that a home sells or does not sell. Realtors know the marketplace and can help you determine an optimum sales price.    

6. OWNING A HOME BUILDS WEALTH IN A WAY THAT RENTING CAN’T
According to the Federal Reserve Board, the average renter’s net worth is $4,800. Contrast that to the average homeowner’s net worth, even in these trying real estate markets, of $171,000. Clearly, it pays to own a home, as the hard-earned equity you build will pay future dividends.
           
7 THERE ARE STILL REPUTABLE MORTGAGE COMPANIES READY TO LEND    
If you have good credit and a realistic understanding of what you can afford, getting mortgage approval to purchase a home can still be easily attained.    

8. A HOUSE IS WHERE YOU MAKE A HOME, NOT JUST A BUCK
Most purchasers don’t buy a house to flip it. They buy it to live in it, to establish their roots, to raise a family and to build on the American Dream. The value of strong communities, civic pride, comfortable retirement, and a higher quality of life can’t simply be expressed on a balance sheet.

William "Art" Sexton
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