Market Update: Are Low Interest Rates Going to Stick Around?

If you’ve been eyeing the Triangle real estate market for a while, you’ve probably noticed interest rates rising in 2018. As we enter the first quarter of the new year, it’s important to stay on top of changing mortgage interest rates.

Right now, interest rates for mortgages in the United States are on a downward trend. As 2019 began, the interest rate for a 30-year fixed-rate mortgage dropped to just 4.51%. In addition, the growth of home prices are expected to slow.

So, what does it all mean?

It’s a Great Time to Buy a Home in Raleigh

A couple receiving the keys to their new home.If interest rates remain low, now is a wonderful time to apply for a mortgage and buy a home in Raleigh! As interest rates increased in 2018, many homebuyers decided to pause their search for a new home.

But, if you’re in the Raleigh real estate market, now is the time to pick the search back up! As we continue through 2019, the inventory of homes for sale in Raleigh is expected to pick back up, while interest rates are expected to grow slowly from 4.77 to about 4.93 by the end of the year.

How Much Will Interest Rates Increase in 2019?

A man and a woman meeting with a bank lender.Organizations like the Mortgage Bankers Association, Fannie Mae, and the National Association of Realtors project that interest rates will increase in 2019. However, they will not increase as rapidly or dramatically as they did in 2018.

The bottom line: if you’ve been hesitating on buying a home in Raleigh, it’s time to dive into the real estate market. Low interest rates, a growing inventory, and the slow growth of home prices have created ideal conditions for home buyers in Raleigh!

Ready to Find the Perfect Home in Raleigh?

Linda Craft & Team REALTORS® are here to help. With a combined 30 years of real estate experience in the Triangle, our team possesses the unique expertise necessary for making a highly successful home purchase.

We’re the #1 Triangle Real Estate Team for a reason. We offer customized services, in-depth real estate resources, and extensive real estate expertise to our Raleigh homebuyers. If you’re ready to expand your home search in Raleigh, then it’s time to give Linda Craft & Team REALTORS® a call.

List Your Home Today: The Advantage to Selling Your Home in Winter

Happy New Year! If selling your home is at the top of your resolutions list, then it’s time to get started. You don’t have to wait for warmer weather for a successful home sale. In fact, it may be a good decision to go ahead and sell your home right now!

There are many hidden benefits to selling your home in winter. Although the market has slowed down, that doesn’t mean buyer demand has! The weather cannot change the circumstances that motivate people to buy new homes, which makes every time of year great for selling your Triangle home.

Less Competition

Saleswoman presenting a new project property on digital tabletMany people believe that winter is a bad time to try and sell your home, which is why they wait until the spring or summer to list. However, the market tells us that housing inventory is low — meaning that there are not enough homes for sale in the market to satisfy buyers’ demand.

If you’ve gained substantial equity in your home over the years, it’s probably time to go ahead and list it!

Same Strong Demand

People often choose to buy a new home and move for a number of reasons that aren’t affected by the weather. Even in the winter, people accept new positions in different cities, need to downsize, or want to move closer to their loved ones.

The weather doesn’t stop them, and it shouldn’t stop you! Take advantage of the decreased inventory for a successful home sale.

A Faster Home Sale

Two professionals shaking hands.As a result of the decreased inventory, and steady demand, your home will probably sell quicker in the winter than it would in the summer! The Triangle market is competitive, no matter the time of year, so you can expect an interested buyer to act fast in putting an offer on your home.

If your goal is to sell your home before March, now is the time to act.

It’s Your Time to Move Up

If you want to sell your Triangle home in order to buy a premium or luxury home, now is the time to act! Luxury homes are in a market all their own, and the inventory for luxury homes in the Triangle continues to increase.

These conditions create a buyer’s market for luxury homes—meaning you can get a tremendous deal on a luxury home for sale in the Triangle!

Don’t Allow the Weather to Decide for You

Luxurious modern kitchen with white countertops.Why do you want to sell your home? Is it worth waiting until the weather decides to improve? Probably not!

Plus, the weather in the Triangle Region of North Carolina will continue to surprise us. In Raleigh this year, it was almost 70 degrees on the first day of the year! While the market may have slowed down a little, buyers are still just as motivated as they’ll be come spring.

Sell Your Triangle Home for Top Dollar

If you’re ready to list your home in the Triangle, then it’s time to contact Linda Craft & Team Realtors®. We have a proven track record in selling Triangle homes fast and for the most amount of money possible.

Get in touch with us today to learn more about your home-selling options in the Triangle.

Still Renting Your Home? There Are Better Options Available!

2018 is quickly drawing to a close, which means it’s time to start planning for the new year. If you’re still renting a home in the Triangle, please know that you have better options available!

Have you been dreaming of becoming a Triangle homeowner? You’re not alone! This is a wonderful area to invest in, and an ideal time to buy a home. Home values in the Triangle are expected to increase over the coming years. This makes now the time to act!

Take a look at our complimentary home-buying tools to get an idea of your options in the Triangle. Oftentimes, it’s less expensive to pay a mortgage every month than it is to keep up with annual rent increases, and all the other fees associated with leasing!

What Do You Dislike About Renting?

Young couple thinking and looking at a laptop computerAccording to a 2018 Bank of America Homebuyer Insights Report, 75% of millennial renters plan on buying a home in the next 5 years, and 38% are planning to buy in the next 2 years!

Those surveyed were also asked what they disliked about renting. 52% said rising rental costs were their biggest reason. Other factors included “not building equity,” “feeling like I’m paying my landlord’s mortgage,” and “not being able to have pets.”

There’s plenty of merit to that concern, as the median asking rent has risen steadily every year since the 1980s.

Common Misconceptions About Buying a Home

Bright living room interior with huge windows.If you plan out your budget every month, you’ve probably heard of this rule “don’t spend more than 30% of your monthly income on housing expenses.” Did you know that almost half of all renters surveyed in the Bank of America Report spend much more than that on their monthly rent?

When asked what was stopping them from buying a home, many responded that they “weren’t able to save the 20% down payment.”

However, this is one of the biggest misconceptions about buying a home! It is possible to buy a home without putting 20% down.

Ready to Explore Your Triangle Home Buying Options?

Allow our team of experienced Triangle real estate agents to guide you through the process. For more information about what kind of homes are available in the Triangle, and what your options are as a buyer, please get in touch.

As the #1 Real Estate Team in the Triangle, Linda Craft & Team, REALTORS® are fully prepared to find you the home of your dreams and negotiate an excellent price on your behalf.

Homebuying Success: A Simple Way to Build Your Wealth For the Future

Did you know that, unless you’re living somewhere rent-free, you’re paying for a mortgage. If you own a home, you’re paying your own mortgage and building wealth over the long run. However, if you’re renting, you’re paying your landlord’s mortgage.

If you’re currently renting a home, but want to build wealth for you and your family, then it’s time to invest in your future by buying a home. Buying a home is equivalent to forcing yourself to save money every month, and it will increase your wealth over the long run.

By paying off your mortgage every month, you’re paying off your debt and building your own wealth. Once that mortgage is paid off, you own your home and you’ll be surprised by the many invaluable benefits this will bring to your financial situation.

The Benefits to Homeownership

Luxurious bedroom with white curtains.Once your home is paid off, you own a tremendous asset worth hundreds of thousands of dollars: your home. In addition, paying your mortgage every month will increase your credit score and force you to save money (think of your home as your savings account). So, by paying off your mortgage you’re actually paying yourself.

Plus, when you buy a home in a market as competitive and ever-growing as the Triangle, your home’s value will increase over time. That means your wealth increases right along with it, even before you’ve finished paying off your home.

As you continue to pay off your home, you’re building something known as home equity. This is the percentage of your home that you actually own, and it grows every time you make a payment. Increased home equity means increased wealth… it’s just that simple.

The Market Continues to Improve

Happy couple looking at a computer screen and discussing their future.Now is a great time to become a homeowner, because housing prices are only continuing to increase across the country — but especially in the North Carolina Triangle. According to Pulsenomics, home values are expected to appreciate by an average of 3% every year.

You may be wondering “Linda, if home prices are going up, that means they’re getting more expensive. Isn’t it better to just continue renting?”

The answer is no! If you buy a home by the end of next month, you lock in your home for that price. While your monthly mortgage payments will reflect that price and that price alone, you’ll actually make money over the years as your home’s value appreciates. Here’s an example:

John and Mary buy a home in North Raleigh for $250,000 in January. Over the next 5 years, their home appreciates in value by 3% every year. At the end of that five-year period, John and Mary have built up nearly $40,000 in home equity. While they’re still paying for a $250,000 home, their home is actually worth almost $290,000!

That’s without any major repairs or renovations! They’ve made an additional $40,000 in forced savings by living in their home and paying their mortgage every month. If they ride out their entire mortgage period (let’s say, a 20-year term fixed interest mortgage), how much do you think their home will be worth when they’re done paying for it?

Build Your Wealth by Buying a Home in the Triangle

If you’re ready to expand your wealth by buying a Triangle home, then it’s time to contact Linda Craft & Team Realtors®. Our team has unsurpassed experience in the Triangle, ample home-buying resources, and a commitment to achieving your goals.

For a streamlined and successful home-buying experience, rely on Linda Craft & Team Realtors®.

LINDA CRAFT & TEAM REALTORS AND CRAFT COMMERCIAL INVITE YOU TO GIVE THE GIFT OF LIFE

Who Says There is No Such Thing as a FREE Lunch

American Red Cross

At Linda Craft & Team Realtors and Craft Commercial, we’re extremely passionate about supporting local communities through organizations like the American Red Cross. We are pleased to host our Second Annual Blood Drive at our office on June 26th from 11am – 3:30pm.

During the summer months there is a decline in donations causing a significant shortage of the overall blood supply in our local hospitals. Our local Red Cross urgently needs people to give blood to help save lives.

  • If you would like to donate blood to support our local hospitals, visit redcrossblood.org and enter sponsor code: Craft to schedule your life-saving appointment.
  • If you can’t attend, you can still help save lives by making a monetary donation, visit: redcross.org/lindacraft
  • THE DAY OF THE DRIVE you can save some time by doing your pre-reading and donation questions online at redcrossblood.org/RapidPass

EVERYONE WHO REGISTERS TO GIVE BLOOD WILL RECEIVE A FREE LUNCH FROM DADDY BOB’S BBQ FOOD TRUCK!!! (11:00am-2:30pm)

Daddy Bob's Food Truck

Please help us save lives by signing up today!

 

Linda Craft & Team REALTORS is a locally-owned, full-service Real Estate Company with over 30 years of experience and 2 billion dollars in home sales. Honors include: NC Women-owned Business Hall of Fame, Humanitarian Award, and the Carolina Hurricanes Corporate Real Estate partner since 2006. Our company mission and core values focus on Expert Market Knowledge coupled with Raving Fan Customer Service to ensure complete client satisfaction. For more information about Linda Craft & Team, Realtors, please call 919-235-0007 or visit www.lindacraft.com

 

When you work with Craft Commercial to buy, sell, or lease property in the Triangle, you benefit from the entire team rather than just one agent’s knowledge and skills. With a whole team of commercial real estate experts acting in your best interests, you can quickly and easily achieve your real estate goals. For more information or to schedule an appointment with Craft Commercial, please call 919-446-5000 or visit www.craftcommercial.com.

What do Spring Cleaning and our Annual Shred Event Have in Common?

The answer is YOU!

If one of the areas you need to spring clean is your home office space, we can help you with our FREE 2018 Shredding Event, Saturday, May 12th from 10am until 2pm at 7300 Six Forks Road in Raleigh.  Load up all the paperwork you want shredded and drop it off. We will have music, refreshments, and a huge paper shredding truck to securely dispose of old files. It’s our gift to you! Oh, and by the way, you can tell your friends and neighbors about it too. This event is open to the public.

 

Sink or Swim – Diving into the Raleigh Housing Market?

Like any major investment, buying a home is all about timing.

Is now the best time to take the risk and jump into the home ownership pool? In the Raleigh market, 2018 certainly looks like the right time; but sooner rather than later because it could be quite a different pool you are jumping into if you wait until the latter part of the year.

Yes, the past couple of years or so have seen crazy upward movement in price appreciation and yes, there’s a shortage of inventory – record lows to be exact. While all that doesn’t seem too comforting to a buyer, there are other aspects to consider about the temperature of that housing pool you are about to dive into.

Even this early in 2018 we are seeing some home prices leveling off, and while inventory is still low, analysts say all that is about to turn a corner, especially in price points above $350,000. While 2017 saw home prices appreciating at a rate of 5.9%, these prices are expected to level out this year to around 3.7 in the Triangle area.

Three other factors could push you into the pool sooner rather than later:

  • Two – four more mortgage rate increases are predicted to happen this year. You could be looking at a rate of 5% by the end of 2018. Increased mortgage rates decrease the amount of home you can afford to buy.
  • While prices are not predicted to climb at the steep increase we’ve seen this past year, they are going to continue to climb.
  • Home builders are working hard to close that gap in inventory, however, construction labor is not getting any cheaper, land in the Raleigh proper market is scarce, and banks are getting tighter with building loans. These limitations slow the supply side of housing availability.

Buying is still a more desirable option than renting in the long-term.

Buying vs. Renting

Even if this competitive market makes it a challenge to find just what you want in a home, it is possible if you seek the right team of Realtors to help you.  If you are considering taking that plunge in the near future, it’s best to consult a Realtor who has years of experience in this market. Think of them as your personal lifeguard. Their knowledge and determination can be the difference between a refreshing dip in the housing pool or diving head first into the deep end without a floatation device.

If you think purchasing a home in this market is tricky, set up a consultation with one of our agents and let them guide you through the ins and outs of buying safely in this market.  Our 30+ years of helping people like you buy and sell homes in the Raleigh area gives us a vast amount of knowledge we are ready to put to work for you.

Linda Craft & Team’s Luxury Home Highlight: Linville

a gourmet kitchen in a luxury home in a gated community

Finding a gated community and the right luxury home in the Triangle can be a challenge. If your sights are set for North Raleigh, then you will definitely want to visit the private gated community of Linville. It has the perfect estate ambiance and added amenities everyone desire for privacy, safety and elegant living at its finest.

Ideal Location and Landscape

linville neighborhood signLinville, settled in the beautiful Falls Lake watershed, is comprised of heavily wooded lots ranging from 1 to 7 acres, giving you the comfort of countryside living and city conveniences. Linville residents are also guaranteed continued privacy as population control within the watershed is strictly enforced.

The Home Owners Association maintains all common area landscape, walking areas, and lighting within the gated community ensuring a flawless view all year long.

Superior Craftsmanship

Developed in 2004 by the Creedmoor Partners, Linville is the pinnacle of prestigious home construction. Each home is custom built upon lot purchase, ranging between 6,000-12,000 square feet and valued anywhere from 1 to 4 million dollars.

Convenience

While living in Linville gives the appearance of countryside living, it is conveniently located 1.5 mile from 540, allowing you swift access to Raleigh’s Research Triangle and RDU airport. Within 2 miles are excellent shopping centers, restaurants, tennis clubs, nightspots, and more.

All of the recreational activities of Falls Lake such as the marina, camp grounds, swimming, boating, fishing and Blue Jay Point Park, are right at your doorstep, providing endless summer fun!

Linville is also unique as it has low county taxes and amenities such as natural gas and high speed internet access that make Linville a place that truly has it all.

Linda Craft & Team, Realtors

Finding the perfect luxury home in the Greater Raleigh area is easy with Linda Craft & Team, Realtors. You will quickly see how 30 years of experience has shaped us into the #1 team in the Triangle, fully capable of assisting you with all of your needs, 24 hours a day. When searching for luxury, why settle for anything less?

Connect with us today at 919-235-0007 or visit us online at LindaCraft.com for a complete list of our services and more.

3 Reasons Why Bay Leaf Farm Defines Luxury Living in North Raleigh

oak tree on a well manicured lawn“Private,” “sophisticated,” and “elegant” are words that come to mind when home buyers and homeowners think of North Raleigh’s Bay Leaf Farm community.

With lush landscaping, elaborate entrances, and estate-sized homes gracing the gated community, it’s easy to see why this neighborhood is so appealing. Here are the top 3 reasons why Bay Leaf Farm is the best luxury community in Raleigh.

3. Don’t Worry About Development

Bay Leaf Farm is a private neighborhood in North Raleigh in a protected watershed, meaning that this area will remain unaffected by encroaching development and allow for privacy, style, and elegance to remain as a top priority.

There are only 23 home sites with each one offering 2-4 acres helping to maintain the custom lifestyle and exceed your expectations.

2. North Raleigh’s Luxuries Are Close By

canoe on a lakeNorth Raleigh offers the best of everything. Bay Leaf Farm is close to Falls Lake for boating, hiking, and mountain biking, and also offers trails for horseback riding.

The proximity to Research Triangle Park and the RDU airport make it an excellent location to capitalize on our universities, industries, and travel opportunities by way of Highway 540. In addition, many private schools such as Ravenscroft and Trinity Academy are nearby, making this area home to top executives and professional athletes such as the Carolina Hurricanes.

1. Your Address is Prestigious

The most expensive homes in Wake County are found in the exclusive Bay Leaf Farm community. Home values range from $1 million to $7 million, and estates offer over 7,000 square feet of living space. Now, in addition to the prestigious address of this Raleigh luxury neighborhood, a home in Bay Leaf Farm typically offers:

  • private pool
  • 10-foot ceilings
  • butler’s pantry
  • heated floors
  • wine cellars
  • wet bar
  • home theaters
  • home office
  • formal rooms
  • outdoor living areas
  • and much more!

Bay Leaf Farm sets the standard for luxury in North Raleigh with its impressive home features.

Choose Bay Leaf Farm for Your Luxury Lifestyle

With luxury as its standard and elegance as a top priority, Bay Leaf Farm encompasses everything that you are looking for in a dream home. Experience everything this Raleigh luxury neighborhood has to offer by seeing it in person.

Search through the available homes for sale to find the luxury home that matches your unique lifestyle, and contact us today at 919-235-0007 or linda@lindacraft.com to schedule a showing.

Why Harrington Grove in Raleigh is the Perfect Neighborhood

entrance to Harrington Grove neighborhood in RaleighHarrington Grove has everything you’re looking for — fun events, the best location, and a neighborhood Swim & Racquet Club (which is not mandatory to join).

But that certainly is not all. Here are the top reasons why this community is an ideal place to call home in the great city of Raleigh.

Location, Location, Location

Harrington Grove is located in the most northern part of Raleigh and offers great Wake County schools close by, walking trails within the neighborhood, and lots of friendly get-togethers sponsored by the HOA.

If you work in the Research Triangle Park or love to travel, RDU International Airport is only a few miles away on highway 540. RTP, Duke, and several hospitals are easy to get to from Harrington Grove.

There is Always Something to Do

For those who enjoy water recreation, Falls Lake is close by for swimming, boating, fishing, camping, water skiing, kayaking, and hiking trails.

If you like adventures, Go Ape high ropes course is a few miles away located at Blue Jay Point County Park. (The Linda Craft & Team, REALTORS® team tried out the high ropes course for a team-building exercise earlier this month and loved it!)

Harrington Grove neighborhood pool and deckThe Harrington Grove Swim & Racquet Club is located within the neighborhood but it’s not mandatory to join, making that a fantastic option for some.

The club offers an Olympic sized swimming pool, baby pool, swim team, and swim lessons. They also have tennis courts with lessons available for adults and kids, as well as leagues for those who want to test their skills through competition.

Its Homes are in High Demand

Of course, the best reasons to love Harrington Grove are the beautiful homes that make up this neighborhood. Homes in this high-demand area always have an excellent history of appreciating.

View all the available listings in Harrington Grove to see what’s currently for sale in this neighborhood, or sign up for your personal Property Organizer account to save your searches and your favorite properties.

Find Your Dream Home in Harrington Grove

If Harrington Grove in Raleigh sounds like the perfect place to call home, we have all of the information you need to learn more about the community and its homes.

Visit the neighborhood page to find out everything you need to know. You can even request a tour of this neighborhood to see what it’s like in person.

We also have everything you need to know about buying a home in Raleigh, including starting your mortgage pre-qualification.

Connect with us today by calling 919-235-0007 or emailing linda@lindacraft.com and we can show you your dream home in Harrington Grove.