Many people think that a “Buyers Market” means great prices for buyers and desperate sellers are willing to negotiate much more willingly. That may be true in areas of the country where house appreciation varies by 10, 20 or even 30% but in our area we are much more conservative with  market swings. Historically the average re-sale home averages 98.5% of the asking price and a six week closing is normal. In Chapel Hill we have a finite number of houses in the school district and new home neighborhoods take years to get approval from the town. We’re fortunate in that these two factors shield us  more so than in other towns. We also have a great number of employers in various industries that are within commuting distance of Chapel Hill thereby protecting us from a major layoff that might put too many houses on the market at one time. My experience has been that our prices pretty much remain the same but we’ll wait longer for a contract. If you have the time, it’s not a bad market at all for sellers. The last listing I sold only took 2 months and they got full price.

I have a new Listing at 217 Nottingham Drive in The Oaks. Just 3 minutes from the country club and close to all the conveniences in southwest Durham and Chapel Hill. It has about 6300+ heated square feet and another 1400 SF of fabulous outdoor areas including a grill house, raised patio, elevated fireplace. It also has two master suites with heated tile floors, a steam room, custom dressing rooms, not walk-in closets! There are too many features to even begin to give it justice, you just have to see it. $1,790,000.

At last the final recordation of plats and lots has happened and just in time for the ribbon cutting  ceremony last Wednesday afternoon. The orchards are being planted, roads are in, lumber has been ordered and house foundations will begin in the next couple of weeks. This is the time to jump on board for a new home if you think you may be in the market. The floor plans I’ve seen are some of the best in the area and reasonably priced in my opinion. The sidewalks on Homestead are being built, the new Carrboro elementary school is underway, there’s a new park approved on Homestead Road near the high school, and the new aquatics center is just a mile down the road. It’s about 2 1/2 miles to I-40 or about 5 miles to downtown Chapel Hill. Sounds good doesn’t it?