How Will the Housing Market Affect the Economy?

Nationwide, businesses are beginning to reopen, employees are returning to work, and retail and service sales have started to increase. And as the economy begins to strengthen, many wonder if the real estate market will be the driving force behind its recovery.

Will the Housing Market Affect the Economy’s Recovery?

a raleigh home for sale

In 2008, the housing market collapse was the main factor behind the collapse of the nationwide economy. At the time, financial recovery didn’t begin until the housing market started to recover. Will our current housing market affect the economy in the same way?

Many economists think the housing market could actually lead us out of recession in 2020. Here’s how.

The housing market has historically pulled the country from recession

a quiet front porch

One economist at CoreLogic notes that “for the first six decades after WWII, the housing sector led the rest of the economy out of each recession.” Other economists state that the housing market is underbuilt, rather than overbuilt as it was in 2008, and houses are in high demand. Both factors that indicate a strong recovery for the housing market.

The sale of one home drastically affects its community

a happy family in their new home

One single home might not seem like it has much power to affect the community and the economy around it. But this is actually far from the truth. Consider the sheer number of people involved in the sale of a home. Typically, there are two real estate agents. There is a home inspector, an appraiser. A lender, an attorney or firm. There may be an escrow company, a title check. Insurance providers. There are taxes on the sale.

And that’s just from the sale of the home! After a new buyer moves in, they may hire contractors or other vendors, make retail purchases for new furniture or decor, or even undertake their own improvement projects. In fact, the National Association of Realtors estimates that the sale of one average single-family home generates over $43,000 in revenue!

New construction has an even more powerful impact

a new construction home

An average single-family home generates $43,000 in a traditional resale scenario, but if that home is newly built, its revenue more than doubles! Plus, new construction creates jobs—as many as 2,900 new jobs for just 1,000 new homes. Those same 1,000 homes will also generate over $110 million in tax revenue for city and state government.

Consider also that the impact of new homes (or even the purchase of a resale home) extends beyond the local agents, lenders, builders, or architects involved in the construction and sale. Real estate sales generate sales for vendors of lumber, appliances, light fixtures, and windows, as well as the companies that ship and store these products.

Real Estate Might Drive Economic Recovery Once Again

will the housing market affect the economy?

As the economy recovers, the housing market is in a position to play a major role in the speed of its recovery. Should homes remain in high demand, and should sellers continue to list their homes, the housing market should stay strong, and the economy along with it. In short, yes, the housing market will affect the economy.

Thinking of Buying or Selling in the Triangle?

Have you been thinking of buying or selling a home in the Triangle area? Linda Craft & Team are here to help. Contact us today to learn more about how we can put our 350+ years of combined experience to work for you.

What Will the 2020 Housing Market Look Like in the Triangle?

These past few months have been filled with uncertainty, thanks to widespread unemployment and more than a little turbulence in the economy. All the upheaval has left many would-be buyers and sellers wondering if it’s still smart to make a move, or if they’d be better waiting for things to settle down. So, what does the 2020 housing market have in store?

The 2020 Market Shows Promise of Recovery

a for sale sign

Late winter and early spring saw nationwide business closures and unemployment, which led many buyers and sellers to put their plans on hold. However, as the economy begins to reopen, real estate, too, may start picking back up. Here’s what’s in store.

Sellers are ready to list

sellers listing a home

A recent study in the 2020 NAR Flash Survey: Economic Pulse indicates that most would-be sellers are ready to list their homes. In fact, the study indicates that about 77% of potential sellers plan on listing once stay-at-home orders in their area have lifted. Actually, Zillow has already reported an uptick in the number of homes for sale.

Buyers are eager to buy

buyers making an offer

While some buyers did put their plans on hold to wait for more stable economic conditions, others actually decided to jump in to take advantage of rock-bottom-low mortgage interest rates. In fact, the NAR survey reported that only 17% of potential buyers stopped their search for economic reasons.

Buyer preferences are changing

searching for a home for sale

Partially driven by the health crisis and increased time spent at home, buyers are changing their real estate criteria. In fact, 5% of buyers shifted their search focus from an urban to a suburban location. Additionally, many real estate agents report an increased demand for homes with larger yards, office space, and more flex space in general.

The Bottom Line: Real Estate Is Picking Up

looking for a home for sale

Despite the roller coaster year we’ve had, real estate has remained steady and strong. And as businesses begin to reopen, people to return to work, and the economy starts to recover, it’s expected for the market to pick back up right where it left off.

Ready to Buy or Sell in the Triangle?

Are you thinking of buying or selling a home in Raleigh or the Triangle? Let Linda Craft & Team lend a hand! Contact us today at 919-235-0007 to learn more or get started. With over 350 years of combined real estate experience, we can confidently say there’s no better team to help you get the job done right!

Up or Down: What Will 2020 Home Values Look Like?

This has been quite the tumultuous year! An unforeseeable global health crisis brought the economy to a screeching halt, sending unemployment rates soaring, closing businesses nationwide, and leading to the enactment of a plethora of new changes and restrictions on the way we do everything from grocery shopping to buying houses. All the ups and downs have left many would-be investors wondering whether 2020 home values will continue the recent trend of appreciation, or if we’re in for a decline.

Will 2020 Home Values Decrease?

predictions for 2020 home values

If you’re thinking of buying or selling a home in the Raleigh area, you’re probably curious as to what the rest of 2020 will bring to real estate—is it a good time to make a move or is it better to wait out the market?

Here’s what you need to know about predictions for prices in 2020.

Home prices are based on supply and demand

a home for sale in raleigh

One of the most important things to understand about real estate is that price isn’t based on the economy or the stock market—it’s based on supply and demand. In real estate, that supply is the number of homes for sale, and that demand is the number of buyers looking.

Demand for homes has stayed strong in most states

searching homes for sale in raleigh

Though the number of sales closed during the past few months did decline a bit, agents nationwide supported stable or strong buyer traffic—which is great news for the market. In fact, most states, including North Carolina, listed buyer demand today as “strong”.

Supply, however, is quite low

a sold sign on a home

The supply of homes is determined largely by the number of sellers willing to list their homes. Even before the start of the pandemic, seller traffic and the inventory of homes for sale was quite low. Now, however, agents from all but four states (Wyoming, Louisiana, Virginia, and Alaska) report that the number of homes for sale is too low to meet buyer demand.

When demand exceeds supply, prices rise

rising home prices

While a low supply of homes might not be entirely favorable to buyers, it is favorable to real estate in general, as it helps to grow home values and prevents a collapse in housing prices (which is, in part, what caused the 2008 housing bubble burst).

While the country struggles with reopening and managing unemployment, price growth may slow a bit, but odds are, it will continue, and prices are certainly not expected to decrease.

The Bottom Line: Prices Should Stay Steady

a couple purchasing a home

If you’ve been thinking of making a home purchase or selling your current home in the coming year, you should feel safe in your decision to move forward with your investment. While the economy might seem to stand on uncertain ground, real estate has remained rock-solid not just through the pandemic, but also for several years beforehand.

Buying or Selling in Raleigh?

If you’ve been thinking of buying or selling in the Raleigh area, Linda Craft & Team is here to help. Contact us today at 919-235-0007 to find out more about how we can put our 350+ years of combined experience to work for you.

You Don’t Need to Worry About the 2020 Unemployment Rate

The year started out very economically promising—low unemployment, a soaring stock market, and an overall thriving economy. And then, the COVID-19 pandemic struck, forcing global closures, business shutdowns, and nationwide stay at home orders. The resulting 2020 unemployment rate has been more than just shocking…it’s also been almost historically high.

Soaring 2020 Unemployment Rate Isn’t Cause for Panic

looking at the 2020 unemployment rate

Recently, the Bureau of Labor Statistics reported that the 2020 unemployment rate had climbed to 14.7%, up from an almost all-time low of 3.5% in 2019. And while that comparison may seem like more than a small black cloud in our sunny skies, we want to ensure you that the unemployment rate isn’t cause to panic. Here’s why.

It’s not like the Great Depression

Many news stories have likened the current economic downturn to that of the Great Depression, but this is certainly not the case. Between 1929 and 1933, the economy shrank for 43 consecutive months and unemployment climbed to nearly 25%.

This time, economists believe a rebound will happen much sooner—possibly even by the end of the year.

Predictions are much more positive

making predictions about the 2020 unemployment rate

Economic predictions for this year and the coming years is a lot more positive—and much more reassuring—than numbers following the Great Depression. Unemployment rates in 1932 climbed from 23.6% to 24.9% in 1933, before slowly beginning to taper, reaching only 20.1% in 1935.

This time around, however, our 14.7% unemployment rate is anticipated to be about as high as it gets. By next year, rates could be at 8% or lower, and could return to 4% as soon as 2023.

This wasn’t a structural collapse

One of the biggest differences between 2020 and the Great Depression is that the Great Depression was an unplanned economic collapse and a breakdown of the financial system, whereas our current situation was a planned shutdown.

Today, as businesses begin to reopen and more and more people are able to return to work, those unemployment numbers should quickly begin to decrease, and a rebound of the economy should be almost immediate.

Almost 90% of job losses are temporary

One very positive factor to remember is the temporary nature of almost 90% of the unemployment experienced nationwide. Whereas prior recessions and depressions led to long-term job losses and business closures, these have been largely temporary. Here in the Triangle, many businesses are already beginning to reopen, and thousands of people have already returned to work.

The Economy Will Recover—And So Will You

the recovering economy

The bottom line is that current unemployment rates and business closures are the result of a calculated and predetermined pause on the economy. Banks today are much stronger and better capitalized than in the day of the Great Depression. Unemployment provides assistance to families and individuals out of work. And businesses nationwide are already beginning to reopen. This is not the Great Depression.

Real Estate Is Still Strong

While the economy waffles, real estate has continued with little hesitation despite closures, restrictions, and social distancing orders. Much of the real estate process has moved online, but if you’re thinking of buying or selling a home in the Triangle area, it’s still more than possible!

Have questions or concerns about how the ongoing health crisis might have affected your real estate goals? Contact Linda Craft & Team at 919-235-0007 to learn more about how we can put our 350+ years of combined experience to work for you.

No, There Won’t Be a Surge of Foreclosures in 2020

With unemployment soaring far higher than ever before in American history, many fear that a housing collapse akin to 2008 is on the horizon. However, despite these concerning numbers, the situation isn’t as dire as it looks. Here’s why we’re probably not going to see a market crash or a surge of foreclosures in 2020.

High Equity Should Protect Us from Foreclosures in 2020

sign for foreclosures in 2020

One of the major drivers of the housing crash in 2008 was its sheer number of foreclosures. And thanks to today’s historic unemployment rates, many wonder if foreclosures in 2020 will follow in the footsteps of 2008. Fortunately, economists think a similar situation is unlikely, largely due to the amount of equity Americans hold today.

Here’s what we mean.

Americans today owe significantly less

piggy bank with money

One of the leading differences between today’s market and the market of 2008 is equity. According to John Burns Consulting, 58.7% of homes in the US have at least 60% equity—a drastically different number from 2008.

How does equity make a difference? When prices dropped in 2008, many owners found that they owed more on their mortgage than their home was now worth. Rather than trying to sell their homes in a short sale, many simply walked away.

Many homes are even mortgage-free

homeowners without a mortgage

The number of Americans who own their homes outright is another bright spark in these (seemingly) dark times. In fact, 42.1% of all homes in the country are mortgage-free—meaning they are not at risk for foreclosure.

Additionally, only a slight 7.3% of American homeowners have less than 10% equity on their homes. And 71.2% of US owners have at least 40% equity.

Homeowners today hold a LOT of equity

a beautiful home in raleigh

But what exactly do those numbers mean in terms of dollars? Data analyst CoreLogic reports that the average equity on mortgaged American homes today is $177,000—that’s not a number any homeowner is going to willingly walk away from or relinquish to foreclosure!

Americans learned from the 2008 crash

spending in a coffee shop

Another major driver in the 2008 housing crash was unwise spending. Thanks to the strength of the market before 2007, many buyers gained a sizable amount of equity in a very short period of time. However, unlike today, those owners didn’t simply wait for their equity to mature. Many used unwise equity loans to fund large purchases—leaving them in a very unpleasant situation when prices dropped.

Today is vastly different. Between 2005 and 2007 (a roughly 3-year span), owners cashed out on $824 billion of home equity. In the last three years from today, owners have cashed out on less than one third of that amount.

Some industries are growing

a nurse in a hospital

While millions of businesses have been shuttered and tens of millions of Americans have filed for unemployment, there is hope on the horizon. In fact, studies show that more than four million initial unemployment filers have already found new jobs. And that’s because a lot of industries—including healthcare, food and grocery, and delivery—have expanded.

It’s important to remember that our current situation is largely temporary. Even now in North Carolina, many businesses have begun to slowly open their doors to the public once more, bringing more and more people back to work.

Questions About What’s on the Horizon for Real Estate in 2020?

This has certainly been a roller coaster year, but that certainly doesn’t mean your home buying or selling goals need to be put on hold. In fact, the more normally we continue to do business, the more quickly life will return to normal.

If you’re thinking of buying or selling in the Raleigh area, Linda Craft & Team is here to help. Contact us today at 919-235-0007 to learn more about how we can put our 350+ years of combined experience to work for you.

How the Stock Market Drop Affects Home Values

With the housing market crash of 2008 still too close for comfort, it’s hard not to envision that this year’s stock market volatility will have the same impact on today’s market—sending home values tumbling. But economists and agents alike are quick to reassure that this isn’t like last time. So, here’s how the stock market drop actually affects home values.

The Stock Market Drop Probably Won’t Affect Home Values

how the stock market drop affects home values

During the last recession, the S&P 500 fell by over 50% from October 2007 to March 2009, and home values depreciated from 2007 through 2009—but unlike now, the economic slowdown was mostly caused by a collapsing real estate market, as well as overly lenient mortgage borrowing standards.

Today, our economic woes are caused by something vastly different and have no connection to real estate.

This could be akin to post-9/11 economy

Many experts say our current situation is much closer to the 2000 – 2002 period of the dot-com crash followed by 9/11. Like then, today’s economy is driven largely by the shock, fear, and anxiety of the general public; people avoiding crowds and staying home has put strain on the airline, leisure, hospitality, restaurant, and entertainment industries.

So… what happened in 2001?

The S&P 500 dropped 45% between September 2000 and October 2002. Home prices, however, actually appreciated during this time period. In fact, all three years saw over 6.5% annual home price appreciation, with 2002 climbing to 8.5% and 2000 nearing 9%.

How the Stock Market Drop Affects Home Values in 2020

discussing housing market drops

It’s hard to say exactly how much our economy will be affected by the coronavirus outbreak, simply because we don’t know how long it will take to get the situation under control and open business and travel back up.

Real estate is slowing down a bit

Some things we can expect, though, are a general slowdown in home sales. Fewer and fewer buyers are venturing out to tour homes, and for many who’ve lost their jobs or main source of income, buying a home may have been pushed to the backburner for the time being.

That being said, real estate has been named an “essential business” for most states, so buying and selling continues even during the shelter-at-home orders and minor lockdowns.

Home values continue to rise in most US cities

Despite the overall slowdown in sales, home values are actually rising in most cities—and expected to continue doing so. However, it’s important to remember that, as life around us changes day to day, so too does the market.

2020 Is Not 2008

shaking hands and making a sale

Times are uncertain and in constant flux. Maybe this will all be over by the end of April, maybe it will not. That being said, one thing we DO know is that 2020 is not 2008. There are a lot of key differences between now and then, and the reality is that a short-term economic slowdown like the one we’re experiencing now probably isn’t enough to crash the housing market.

The bottom line: The 2008 market crash and recession were caused by real estate—by overinflated prices and underqualified buyers. Today’s economic downturn is the result of the general population’s reaction to a natural disaster.

Today’s situation is not the same as that of 2008.

Questions About the Stock Market & Home Values?

If you’ve got any questions or concerns about how the stock market drop affects home values or your real estate goals, please do not hesitate to reach out to Linda Craft & Team. We are here for you during these unprecedented times; let us put our expertise to work for your benefit.

Find Triangle Homes with Virtual Tours All in One Place!

With constantly changing restrictions and regulations on business, travel, and even everyday life, the way we buy, sell, and even see homes has changed drastically in the last few weeks. Fortunately, modern tech—like virtual tours—makes it easier than ever to get up close and personal… right from the comfort of your couch. And now, we’ve got a way for you to find all the Triangle homes with virtual tours in one spot.

What Is a Virtual Tour?

triangle homes with virtual tours

Let’s take a step back. What exactly is a “virtual tour”? For some of us, this might be a familiar term. But for many, the concept of virtually exploring a home might be a little foreign. There are a few different variations of virtual tours—some may be video, others still-frame—but both provide a cohesive representation of a home’s interior.

Virtual tours are incredibly beneficial in remote real estate because they simulate the in-person touring experience.

Why shop Triangle homes with virtual tours?

looking at a virtual tour of a home

If you’re buying a home and, for whatever reason, are unable or unwilling to schedule an in-person showing, a virtual tour can help provide that in-depth look-around you just can’t get from images.

Virtual tours have become especially important during this public health crisis. Though real estate is considered an “essential business” here in the Triangle, it still presents a risk to both buyers and sellers to schedule an in-person tour.

Virtual tours can keep buyers safely at home while offering a similar “tour” experience.

How virtual tours benefit sellers

searching triangle homes with virtual tours

If you’re selling a home right now, having a virtual tour is pretty much a must! Not only will it offer you the ability to show your home without having to welcome anyone (and their germs!) inside, it’ll likely make your home a lot more appealing to buyers shopping from their homes.

In fact, according to research by Zillow, homes with virtual tours get 87% more views, are saved 50% more, and sell 10% faster than homes without virtual tours. And that was before the coronavirus outbreak.

Imagine how those numbers will change as real estate shifts more and more to being a virtual, online experience.

Linda Craft & Team Listings’ Virtual Tours

a linda craft home with virtual showing

At Linda Craft & Team, we understand the importance of the virtual experience. We understood it before stay-at-home orders, business closings, and social restrictions. In fact, every single one of our listings features a professional-grade virtual tour—even though only about 1,600 of the 13,000 currently active listings in the Triangle have a virtual tour.

If you’re buying or selling in the Triangle, now more than ever, it pays to work with an agent who works with the market! Contact Linda Craft & Team today to learn more about how we can put our 350+ years of experience to work for you.

Is Now a Good Time to Refinance My Home?

The past few weeks have brought a whirlwind of change to just about every aspect of daily life—business, work, play, and everything in between. In this time of upheaval, you might’ve noticed that mortgage interest rates have dropped… and dropped and dropped. And if you own a home, you may be considering whether now is a good time to refinance.

So… Is It a Good Time to Refinance?

calculating refinancing costs

A “good” or “bad” time to refinance really can’t be wrapped up in a blanket statement that applies to all homeowners. Instead, there are some factors that should be individually considered before you make a decision.

Here’s what to ask yourself if you’re considering refinancing.

Why do I want to refinance?

Understanding your reasons for refinancing can help you determine whether it’s a good idea. If you’re interested in reducing your payments, and your interest rate is higher than what’s currently being offered, it might be worth looking into.

You may also be curious as to whether you can shorten the life of your loan, say from a 30-year to a 15- or 20-year loan. You might also be considering a cash-out refinance, which would enable you to take the equity on your home and put it towards something else, like an investment property, business venture, or education.

How much will it cost me?

costs of refinancing

What many owners don’t realize is that refinancing comes with closing costs, just like the initial home purchase. Typically, total closing costs average about 2% – 4% of the balance of the loan—which can amount to several thousands of dollars.

Some lenders offer no-cost refinancing options… but typically, they expect to make up these costs elsewhere, like with a slightly higher interest rate.

How long will I wait?

Because current market conditions are so favorable (read: interest rates are low), many homeowners have been refinancing, so the process has slowed down a bit. In fact, over two times as many homeowners have refinanced than in previous years.

So.. is it worth it?

talking about a good time to refinance

Unfortunately, we can’t answer this for you. It depends largely on your personal situation, including your current rates, the duration of your loan, the amount you currently owe, and whether you plan to move in the next handful of years. In short, you might need to do some thinking about your plans—and maybe break out a calculator, too.

Now Is a Good Time to Refinance… Maybe!

So the bottom line is that now could potentially be a good time to refinance, thanks to those low interest rates, but ultimately, as with many aspects of real estate, it depends on your personal situation.

Not sure whether refinancing is the right move for you or have other questions about buying or selling in Raleigh? Don’t hesitate to reach out to us. At Linda Craft & Team, we’re eager to put our combined 350+ years of experience to work for you.

Another Housing Market Crash WON’T Happen. Here’s Why.

There’s a lot of uncertainty hanging over us—the coronavirus closing businesses left and right, stock market volatility sending stocks plummeting, the Fed cutting interest rates to near nothing—but we want to reassure you that another housing market crash is not on the horizon.

Here’s Why We Aren’t In Store for a Housing Market Crash

not another housing market crash

After the major real estate market crash of 2008, it’s easy for buyers and owners alike to feel more than a little wary. Buying at the wrong time can be financially and emotionally devastating, so it’s not surprising that more than a few people are rethinking buying in this uncertain time.

But a housing market crash isn’t inevitable. Here’s why.

Mortgage standards are entirely different

qualifying for a mortgage

One of the reasons the housing market soared in the mid 2000s (and then inevitably crashed) was that it was incredibly easy to qualify for a mortgage. In fact, the Mortgage Credit Availability Index shows that it was almost five times easier to get a mortgage in the 2006 – 2008 range than it is today.

In translation: During the housing bubble, people who should not have qualified for a mortgage at all were buying homes they could not realistically afford.

Prices aren’t skyrocketing

rising prices

Over the course of the last six years, housing values have increased slowly and steadily over time—at an average rate of about 5%. Compare that to the soaring prices of the housing bubble—where rates soared to over 12%—and you’ll see that prices aren’t skyrocketing out of control as they did back in the early 2000s.

There’s an inventory shortage, not surplus

sold sign on a raleigh home

A “normal” market has approximately six months of inventory (homes for sale). Anything more than that is considered a surplus and will cause demand to lower and prices to drop. In 2007, the amount of inventory soared to over eight months—which caused prices to fall drastically. Today, however, we face the opposite scenario, with only three months’ supply of homes for sale.

Housing is much more affordable

calculating housing costs

Affordability of real estate is about more than price. The income of the purchaser and the available mortgage rates must also be taken into account to determine how affordable homes are. Prior to the market crash, prices were astronomically high, income was low, and mortgage rates sat at over 6%—making housing very unaffordable.

In contrast, today’s housing is significantly more affordable; though prices are still high, wages are also high and mortgage rates have decreased to as low as 3.5%. That means you’ll pay less for your mortgage and put less of your income towards it.

People have more equity

equity on a home

During the housing bubble, many owners withdrew equity on their homes as soon as it was available. When the market crashed and home values fell, owners found themselves instantaneously in debt. Many foreclosed on their homes, further worsening home values with a high number of discounted foreclosures and short sales.

This time around, however, owners are exercising a little more caution. In fact, homeowners have cashed out over $500 billion LESS than before.

The Bottom Line: A Housing Crash Isn’t Happening

Economic conditions aren’t the same as they were back in 2008, and buyers and owners are much smarter (partially thanks to hard-earned lessons) than during the housing market crash. These may be uncertain times, but real estate will stay strong regardless.

If you have any questions about how current conditions affect your homeownership, purchase, or sale, Linda Craft and Team is here to chat and share our expert options and advice.

3 Ways Pricing Your Home Right Makes a BIG Difference

The Raleigh area has been in a seller’s market for a while now, which is great news if you’re thinking of listing. Homes are in high demand and buyers are willing to pay for it. However, this does not mean you should price your home way above its value when selling.

Pricing Your Home Wrong Can Kill Your Sale

Because the market is so hot, and in listers’ favor, many home sellers incorrectly believe they can overprice their homes in hopes of making more money. Here’s why that’s not a good idea—even in a seller’s market.

The right price increases visibility

pricing your home to appeal to buyer searches

When you price your home at, or slightly under, market value, you actually increase the number of buyers who’ll see your home. Overpriced homes often end up in higher search brackets—competing with similarly-priced homes which, if correctly priced, will often also be higher-end or larger homes.

Correctly-priced homes will fall into search brackets with similar homes, where they’ll be seen by a greater number of buyers looking for such homes.

Correctly priced homes are exciting to buyers

excited buyer looking at a home

Seeing a great house at a great price is exciting to a buyer! And when a buyer is excited about a home, they’re more likely to want to take a closer look. More buyers getting excited about, and coming to look at, your home is great news—and could even lead to multiple offers!

Excited buyers are also the perfect environment for a bidding war—and the ability to drive a higher final sale price.

Incorrect pricing typically results in a correction

correctly pricing your home

Overpriced homes, because they’re often overshadowed by higher-end but similarly-priced homes, don’t typically attract a lot of buyer interest. That means they tend to sit on the market for a long time. And when homes sit on the market, they attract even less buyer interest. Usually at this point, sellers are forced to make a price correction.

The thing is, though, once a home’s been on the market for a while, even if the price is corrected, buyers are going to wonder why. What’s wrong with this home that no one’s wanted it and the price had to drop? The last thing you want is to give buyers any reason to be turned off!

Correct Pricing is Crucial to Home Selling!

The bottom line to successful home selling is that that right price is a critical first step! That’s why it’s especially beneficial to work with an experienced and local agent, one who’s going to be able to help you find that perfect selling price.

Selling in Raleigh? Let us help!

If you’re thinking of selling a home in the Raleigh area, let Linda Craft & Team help you find that price—and get the job done right. We’ll put our 350+ years of combined experience to work for you and your home.