Heritage Pines in Cary NC
June 3, 2013 Leave a Comment

Heritage Pines in Cary NC

Heritage Pines in Cary NCHeritage Pines is an Active Adult community in the heart of Cary in North Carolina. The community offers a mix of townhomes and single family homes most priced from the low to mid $200,000. The homes were built from 2000 to 2005 and range in size from a 1300 square foot townhouse to a 2500 square foot single family ranch style home. There are just under 300 homes in Heritage Pines and a wide variety of activities and amenities for the residents to enjoy.

The clubhouse at Heritage Pines  is the central spot in the neighborhood and there are many events held throughout the year and plenty of different clubs to join. Also in the clubhouse is a card room, craft room, library.The community has a heated pool, tennis court, bocce, horseshoes, plenty of activities for the active adult fifty five and better. If you are looking for 55 plus communities in Cary that offer plenty of activities then you’ll want to look at the homes for sale in Heritage Pines.

Recent home sales in Heritage Pines have ranged in price from $208,000 for a 1400 square foot townhome up to $300,000 for a 2500 square foot detached ranch plan. The average sale price in the neighborhood for the year May 2012-13 was $244,000 which was about $137 a square foot and there were fourteen homes sold in that period. The average amount of time it took to sell a home in Heritage Pines was a little over three months with some homes selling in as little as a week. To allow for residents to enjoy all the activities and outings organized at Heritage Pines your lawn care is taken care of by the community and there is a monthly HOA dues that covers the use of the facilities as well.

Heritage Pines is located in the heart of Cary, North Carolina, a town that is constantly winning awards for safety, planning, and resident satisfaction. The town of Cary has grown tremendously in recent years as the number of transplants from up north and out west have discovered all it has to offer. It is located in an area known as the Triangle and is surrounded by great universities such as Duke, UNC Chapel Hill and NC State. World class hospitals are a short drive in all directions and Cary is home to many of the people who work at Research Triangle Park a hub of technology and innovation where more than 170 global companies have a presence. With all these people moving to Cary it is no wonder that the town offers a wide variety of restaurants, shopping, entertainment and outdoor activities. New homeowners of Heritage Pines are a stones throw away from great restaurants such as LeFarm, Zpizza, Tribeca Tavern, Doherty’s Irish Pub.

Living in Heritage Pines you will find endless ways to occupy your time from walking the many trails in and around Cary to exploring the wonderful parks or for something a bit more leisurely an NC Symphony concert at the Koka Booth Amphitheatre. The many art museums,theaters and concert halls of both Durham and Raleigh along with festivals, farmers markets, sporting events like the NHL Carolina Hurricanes, ACC sports not to mention the many wonderful private and public golf courses will ensure you keep up an active adult lifestyle.

If you are looking for more information about homes in Heritage Pines or in Cary NC, please contact us!  Call Raleigh Cary Realty to view of these great homes today!

Filed Under: Neighborhoods Cary Tagged: , ,
May 8, 2013 Leave a Comment

How Do You Know How Much To Offer For A Home?

Many First Time Homebuyers are frustrated by the current real estate market in Raleigh and Cary because they are being outbid in situations where there are multiple offers. The fact is, in some price ranges in the Raleigh Metro area, there’s not enough homes on the market.  Multiple offers are an economic reaction to low supply and high demand. Rather than being discouraged by competition, gather key information and plan your strategy.

How Do You Know How Much To Offer For A Home?

Begin with a careful analysis of VALUE, not PRICE. Many years ago, an appraiser told me that Price is what someone pays for a house… but VALUE is what they get.  All list prices are not created equal! Some agents are known for pricing below market value to encourage multiple offers. Because of the current demand in some price ranges, there are a few banks in our area that will price their foreclosed homes in Raleigh at absurdly low prices relative to market value.  Why are they doing this?  Because they want to receive multiple offers and get a higher price!   

With low inventory, there may be few comparable properties making it especially tricky to know is true market value. So the most important question becomes: What is the property worth to you? The best idea is to look at “comparable” homes in the area, and understand the value of a home that’s already had upgrades done, versus a home that still has formica countertops.

Does it have value to you not easily reflected in the price per square foot number? Price per square foot is calculated DIFFERENTLY for areas that do not have central heating and air, for instance.  Homes with Unfinished Square footage in the Attic (johnston County is famous for this) will price out differently than homes that have been finished.  Yes, both might be 2406 square feet… but the finishes will make a difference in the price! The Agents at Raleigh Cary Realty will help you compare homes!

Keeping close tabs on what’s happening in the neighborhoods that you are interested in is crucial. How many similar properties have come on the market in Holly Springs, in your Price Range?  These are questions we will be asking, and updating.   Knowing the “overall” pricing for Raleigh is important – but Real Estate is LOCAL – which means we need to be monitoring what is going on in each neighborhood, and each street you might be interested in.

Sometimes multiple offers will still result in a sales price close to the list price. Buyers need to have an agent with their finger on the pulse of their specific target neighborhoods to derive at a true assessment of what you will need to offer to WIN THE BID!

If you are considering a home purchase in Raleigh, Cary, Apex (or anywhere in the Triangle Area) we encourage you to work with a professional home buying team! We know what Insurance agents are going to really listen to you, and help create a policy that covers you from disasters – and one that works within your budget.  Your home is an Investment, and as such, you will want to Insure it properly!  Call Raleigh Cary Realty, our agents will answer all of your Homebuying Questions!

Filed Under: Buyer FAQs
Home Buyers – Winning The Bid On Your Home In Raleigh
May 6, 2013 Leave a Comment

Home Buyers – Winning The Bid On Your Home In Raleigh

The Raleigh Metro Real Estate market continues to be strong and with low inventory, shortened days on the market, and lots of buyers multiple offer situations happen every day.  Of course, the Real Estate market is local – so you might find that the best neighborhood in Raleigh is already moving to a multiple offer situation – and the best neighborhood in Holly Springs (for example) is completely different…

As a buyer it can be frustrating when your offer isn’t the one the Seller accepts.  Not having an offer to purchase a home in Raleigh “selected” can even be downright discouraging… especially when it happens more than once.

Price is and will remain the biggest factor but, when a seller is looking at multiple offers the small details pack a powerful punch.

Multiple Offers – What We Will Discuss When Writing A Contract in Cary

1. Price – if you know there are multiple offers don’t lowball, other buyers are going to put their best offer on the table.  When the seller sits down with their agent the first thing they’ll look at is price. We will talk about putting an escalation clause in your contract that could make your offer “exceed another offer by X amount up to up to X sale price.”  I’ve seen this work in Raleigh and Cary recently.

2. Pre-Approval – I work with Loan officers in Cary and Raleigh that understand that they need to be available to take the listing agents call to verify financing. I call all of the lenders listed on pre-approvals to have a brief conversation with them about the potential buyers financing. If they don’t answer or return my call my seller will know.Multiple Offers Raleigh, Multiple offers cary nc

3. Contingencies – shorten or eliminate as many contingencies as possible. A 15 day home inspection contingency vs. a 5 day home inspection contingency can make a big difference when a seller is comparing offers.

4. Termite Inspection - if your type of loan allows it, I might suggest that you pay for your own termite inspection. (Most Government loans do not require them).  The Termite Inspection is typically a seller paid item and not an expensive one at that but, when looking at offers every detail counts.

5. Home Warranty – if the seller isn’t offering one up front, but you’d like to have one put in the contract, it will be a buyer paid item. Again not a big ticket item (about $350) but, the small things add up. Combine that with a buyer paid termite inspection and that’s a difference of $400 in the seller’s eyes.

In the grand scheme of things these are minor items. If you could pay an extra $400 to be the chosen offer, would you? Most buyers answer yes without hesitation.

These are only a couple of items we can do to make your offer stand out. Please note that doing all of these things does not guarantee you will be the chosen offer but, it does give you the best chance at be selected.

If you are considering a home purchase in Raleigh, Cary, Apex (or anywhere in the Triangle Area) we encourage you to work with a professional home buying team! We know what Insurance agents are going to really listen to you, and help create a policy that covers you from disasters – and one that works within your budget.  Your home is an Investment, and as such, you will want to Insure it properly!  Call Raleigh Cary Realty, our agents will answer all of your Homebuying Questions!

Filed Under: Neighborhoods Cary
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