Mailbag: Market Cool Down, Bigger Loans, and Best Neighborhoods
Think with the seasons changing, the housing market might too? What are the best neighborhoods in Holly Springs? What does the home selling process look like? Angie shares her thoughts on questions and whether buyers are taking out bigger loans lately.
In the Triangle, it continues to be a strong housing market, so where should you look for a good deal? What does it look like to sell your home? Find out on today's episode.
Joe in Holly Springs is wondering what areas offer the best value when buying a home. Angie says to look for neighborhoods with new construction with homes under $350,000. They are hard to find but Honeycutt Farms is a good spot to check out in Holly Springs. Downton Square townhomes are another good option when seeking new construction homes with a garage.
Elle in Chapel Hill says they qualify for a $500,000 loan. Their first home was just over $100,000 so this size loan seems really big. Are buyers taking out bigger loans? It has become more affordable for buyers to lend from the bank thanks to lower interest rates. The national mortgage average is around $410,000. To get into this market, you will need to spend more. Homes in the area continue to appreciate so the prices continue to rise. Of course, you need to feel comfortable with the cost of your mortgage and your monthly payments.
Paul in Raleigh is hopeful that the housing market will cool down in the fall and winter months. Angie says “cool off” probably isn’t the best term. It might slow down, but the market is still going up in this area.
Kathy in Durham wants to know what the process of selling a home looks like. You can start by meeting with Angie and her team to get guidance on what is needed to get your home show and market-ready. They will do a walkthrough, share a marketing plan, show comparables, and then answer any questions you may have. They also get connect you with partners like a professional stager or professional photographer. Feel ready to list your home? Angie talks about some of the offers they have right now for clients listing their home with her team.
Listen to the entire episode or skip ahead using the timestamps below.
0:38 - Mailbag: What neighborhoods are the best value in Holly Springs?
2:05 - Mailbag: Are buyers taking out bigger loans?
5:11 - Mailbag: Will the housing market cool down this fall and winter?
7:27 - Mailbag: What does the home selling process look like?
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