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Wake Forest, NC Real Estate News

By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
This Friday is the annual Lighting of Wake Forest!  Join your friends and neighbors at Centennial Plaza in front of Wake Forest Town Hall as the town kicks off the Holiday Season.  The 30 foot Christmas tree will be lit by Mayor Vivian Jones and you can expect to see Santa make an appearance shortly afterwards.  There will also be performances by local choirs, pictures with Santa and horse and carriage rides.  While you are downtown don't forget to visit the local shops that are beautifully decorated for the Holidays and offering some of the most unique and one-of-a-kind gifts.  Lighting of Wake Forest December 7 - 6-8pm Centennial Plaza, Wake Forest Town Hall 301 S. Brooks Street  
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By Jeremy Wrenn, VP of Finance, Winslow Homes
(Winslow Homes)
Sometimes when visiting a home, I have that moment of surprise when damage is a direct result of how the home was built (and possibly designed).  This was such a home.   These nice folks are getting ready to possibly list their home for sale.  And they have this mysterious staining and mildew/mold on the garage drywall ceiling.   Being in home repairs, I have received special traning that I can tell that this is not normal.  Don't try this at home.   Ok, so anyone would know this is not normal.  You got me.  Mold in the house, not normal, except on that sandwhich in the back of the fridge you forgot from last month.  You might want to get that out of there.   But I digress...   So being the naturally curious guy I am, I wanted to find out WHY there is damage on a drywall ceiling that is...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
The first cool morning has come which means Fall is definitely on its way!  There have been some amazing homes for sale added to the current inventory this past week but it is certainly less that weeks previous.  The variety of price points, types of homes and locations offer home buyers many options.  Check out the latest Wake Forest NC Real Estate Weekly Market Report and let me know if you have any questions as I would be more than happy to help!  Also, if you want more specific information for a particular neighborhood I can certainly prepare a custom report just for you.   There were 31 new listings added to the Homes for Sale inventory last week with only two of them being short sales!  Just an FYI - there have been indicators that a few mores short sales and foreclosures will be ...
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By Jeremy Wrenn, VP of Finance, Winslow Homes
(Winslow Homes)
We recently had to remove a deck that was built by others, and wasn't built to commercial code (yes, there are MANY differences between residential and commercial code).  Our first preference was to bring it up to commercial code, but we figured out that wasn't doable with some major steps having been missed.  So having spent so much time on investigating the issues, we thought we'd just get the deck down as quickly as possible.  Mission accomplished.  
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By Jeremy Wrenn, VP of Finance, Winslow Homes
(Winslow Homes)
  Wrenn Home Improvements in Wake Forest, NC (with work in Wake Forest & Raleigh area) is seeking a full time or part time Handyman Assistant to work under the supervision of a Crew Leader. Positions for both full time or part time are for immediate employment with long term potential and advancement. Some construction and carpentry experience is required, but on-the-job training will be provided. Applicant must be able to work from ladders, do heavy lifting, and have the ability to communicate effectively with customers and represent the company well. Work day will be 7:00 am-3:30 pm with 1/2 hour lunch break. Applicant will need to provide personal tools (i.e. tool belt, tape measure, hammer, etc.). Applicant must have a current valid drivers license and a driving history (last 5 year...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
Both the Average Sales Price and the Median Sales Price were up in July 2012 when compared with July 2011.  There is a distinct difference between the two - do you know what they are?  To help you understand the difference you can visit a recent blog post I created titled "Do You Know The Difference Between the Average Sales Price and the Median Sales Price?"  Creative title, right?  ;) Here is the latest Market Statistic graph showing the substantial increase in both, and, don't forget, if you need information specific to your neighborhood please feel free to give me a call - I'd be happy to help!
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
In July of 2011 the Absorption Rate was 11 which indicated a market that was deep into a Buyer’s Market.  This year, the Absorption Rate is 7 which is indicative of a more balanced market.  Does this mean we have hit bottom?  Not necessarily however, there might be quite a few buyers kicking themselves for not buying a home last year.      This stabilization in the Absorption Rate is good news for sellers in the Wake Forest Real Estate market.  It essentially means that the inventory of homes for sale is lower therefore meaning less choices for buyers.    If you aren’t quite sure what an Absorption Rate is you will definitely want to read What Is An Absorption Rate And How Does It Affect You?     For more information on the Wake Forest NC Real Estate Market please feel free to give me a...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
There were 735 homes for sale in Wake Forest NC in July, 2012.  For the first time in quite a while the most active Price Point has changed.  This past month the price point with the most homes for sale was $300,000 - $399,900.   Typically, the $200,000 - $299,999 price range is the most popular in Wake Forest NC and makes up the majority of both the homes sold and the homes for sale.  This past July a HIGHER price point had the most inventory!      ·         $200,000 - $299,999 – 165 homes for sale   ·         $300,000 - $399,999 – 185 homes for sale     There is an amazing selection of homes for sale in Wake Forest NC that fall within BOTH of those price points.  They are all sizes, acreage, styles and various locations.  If you are interested in seeing what is currently for sale plea...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
Coming up this Saturday, August 18th, from 6pm - 8pm is a dog-gone awesome event that you won't want to miss!  (Yes, I said that!)   The Mill Room at The Factory in Wake Forest NC will host BARKITECTURE - a fun-filled event dedicated to our 4 legged furry canine AND feline best friends.  Join in the fun and food at Barkitecture 2012 which will feature a live auction of: unique dog houses cat condos pet furniture designed and built by local builders and designers dog painting by renowned local artist Dick Larsen There will also be a Silent Auction which will include sports memorabilia, gift baskets and pet supplies! All proceeds from this awesome event will go to SNIP Fund which provides low cost spay/neuter services to Franklin County pet owners. The cost for the event is $45 per person...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
There have been quite a few new listings added to the inventory of Homes for Sale in Wake Forest NC this past week.  The variety of price points, types of homes and locations offer home buyers many options.  Check out the latest Wake Forest NC Real Estate Weekly Market Report and let me know if you have any questions as I would be more than happy to help!  Also, if you want more specific information for a particular neighborhood I can certainly prepare a custom report just for you. There were 47 new listings added to the Homes for Sale inventory last week with only ONE of them being short sales!  Just an FYI - there have been indicators that a few mores short sales and foreclosures will be hitting the market late Summer making competition even more fierce!  The price range for new listi...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
It has been an extremely busy week in the Wake Forest NC Real Estate Market!  Here is the latest report with the Actives, Solds, Under Contract and Contingent properties - lot's of movement in the New Home inventory!  New Home activity made up 37% of all activity with the Wake Forest NC Real Estate Market - that is a very healthy number.   There were 44 new listings added to the Homes for Sale inventory last week with only TWO of them being short sales!  Just an FYI - there have been indicators that a few mores short sales and foreclosures will be hitting the market late Summer making competition even more fierce!  The price range for new listings ranges from $114,990 - $499,900 with a variety that includes townhomes, starter homes, move up homes and luxury homes. The breakdown of the n...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
Things to Do in Wake Forest NC - August 6 - 9, 2012 It's another full week in Wake Forest NC where there is always something to do!  Check out some of this week "Don't Miss" events.  I hope I get to see you around and if you see me please be sure to say HI!     National Night Out Parking Lot Party Tuesday, Aug. 7; 5 - 9 pm Wake Forest SuperTarget Parking Lot, 12000 Retail Dr. On Tuesday, Aug. 7, neighborhoods throughout Wake Forest are invited to join the Wake Forest Police Department, Target, and thousands of communities across the United States for the 28th Annual National Night Out. The Wake Forest Police Department and Target, the national sponsor for NNO, are marking the occasion by hosting a “National Night Out Parking Lot Party” from 5 pm to 9 pm at the Wake Forest Target Superst...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
August 7, 2012, Wake Forest NC will be recognizing National Night Out with a Parking Lot Party at the Super Target from 5:00pm - 9:00pm.   Target is the National Sponsor for National Night Out which is a nationwide program geared towards promotingNeighborhood Spirit and Police-Community Patnerships in a fight for a safer nation.  National Night Out is designed to: Heighten crime and drug prevention awareness; Generate support for, and participation in, local anticrime programs; Strengthen neighborhood spirit and police-community partnerships; and Send a message to criminals letting them know that neighborhoods are organized and fighting back. This year celebrates 29 years since the inception of National Night Out and communities throughout the nation are celebrating in many ways.  Vario...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
It is no surprise that Foreclosures made up a huge portion of the inventory of homes for sale in Wake Forest NC last year.  They also accounted for quite of few of the resales in 2011.  The other evening when I was walking my dogs through one of the most popular neighborhoods in Wake Forest, Heritage, and I passed a few homes that I knew were Foreclosures.  It got me to thinking.......while I may know that the homes are foreclosures since I stay on top of the real estate market in Wake Forest NC that others may not.  On the exterior the homes look like any other home on the street.  They have a manicured lawn, a beautiful front porch, maybe a fenced back yard and all the characteristics that you would expect from a home.  Many buyers that I work with started their search by EXCLUDING fo...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
Here is the weekend roundup of things to do in Wake Forest NC.  Don’t forget, there is the weekly Saturday morning Wake Forest Farmer’s Market as well where you can find all kinds of fresh produce, fresh meat, jam, jellies and so much more. While your downtown don’t forget to stop in to a few of the shops and restaurants…….there are so many to choose from! Purple Heart Dinner Saturday, Aug. 4; 5:30 pm Wake Forest Presbyterian Church, 12605 Capital Blvd.    Tickets are available for the annual Purple Heart Dinner on Saturday, Aug. 4, at 5:30 p.m., at Wake Forest Presbyterian Church. Hosted by the Wake Forest Purple Heart Foundation, the dinner invites the public to help honor military veterans wounded in battle. Tickets are $15 each and available at the Wake Forest Chamber of Commerce, t...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
In June of 2011 the Absorption Rate was 11 which indicated a market that was deep into a Buyer’s Market.  This year, the Absorption Rate is 7 which is indicative of a more balanced market.  Does this mean we have hit bottom?  Not necessarily however, there might be quite a few buyers kicking themselves for not buying a home last year.     This stabilization in the Absorption Rate is good news for sellers in the Wake Forest Real Estate market.  It essentially means that the inventory of homes for sale is lower therefore meaning less choices for buyers.    If you aren’t quite sure what an Absorption Rate is you will definitely want to read What Is An Absorption Rate And How Does It Affect You?   For more information on the Wake Forest NC Real Estate Market please feel free to give me a ca...
Comments 2
By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
Wake Forest NC Real Estate Market - Weekly Report for July 22 - 28, 2012 It has been an extremely busy week in the Wake Forest NC Real Estate Market!  Here is the latest report with the Actives, Solds, Under Contract and Contingent properties - lot's of movement in the New Home inventory! There were 33 new listings added to the Homes for Sale inventory last week with NONE of them being short sales!  Just an FYI - there have been indicators that a few mores short sales and foreclosures will be hitting the market later this Summer making competition even more fierce!  The price range for new listings ranges from $59,900 - $700,000 with a variety that includes townhomes, starter homes, move up homes and luxury homes. The breakdown of the new listings last week is: Fair Market Resales - 33 ...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
There were 560 homes for sale in Wake Forest NC in June, 2012.  Usually, there is one particular price point that is the most popular hands down.  This past month though, there was a surprise!   Typically, the $200,000 - $299,999 price range is the most popular in Wake Forest NC and makes up the majority of both the homes sold and the homes for sale.  This past June a HIGHER price point tied with it!    ·         $200,000 - $299,999 – 169 homes for sale ·         $300,000 - $399,999 – 169 homes for sale   There is an amazing selection of homes for sale in Wake Forest NC that fall within BOTH of those price points.  They are all sizes, acreage, styles and various locations.  If you are interested in seeing what is currently for sale please give me a call or simply send me an email – I wo...
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By Jeremy Wrenn, VP of Finance, Winslow Homes
(Winslow Homes)
This is straight from an email that came out today from the Town of Wake Forest.  It's good advice, especially for the elderly, on how to spot a scam. I will say there are a lot of legitimate small contractors that do not have labelled vans.  But they don't practice on the spot deals, and typically give out estimates prior to the work. So seeing only one warning sign may only raise a yellow flag, but seeing several should raise red flags right away!  If you have concerns, don't sign anything.  A good deal might have time restrictions, but should never be restricted to a decision the same day the price is given.  Never! So beware, but be aware there are plenty of trustworthy contractors out there.  And these two individuals are now under arrest. Here's the text of the email:   Beware of ...
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By Leesa Finley, RED Properties - Raleigh NC Real Estate
(RED Properties)
As a Buyer are you considering a lease purchase?  A Lease Purchase may be a great way to get into that home of your dreams.  Typically, when you enter into a lease purchase you are leasing the home for a period of time and then PURCHASING the home at the end of the lease period.  A portion of your monthly payments are usually applied towards your downpayment of the home.  However, there are quite a few things that you should consider before considering or entering into a lease purchase. Currently, there are NO forms available to any Realtor® in the State of North Carolina to facilitate the Lease Purchase process.  It is not as simple as filling out a Rental Contract and an Offer To Purchase and stapling the two together.  Therefore, it is highly recommended that you, as the buyer, hire ...
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