The New Construction Solution

#raleighrealestate #relocatetoraleigh #newconstruction #lowinventory #buyerdemand #appreciation #privatesales #movetoraleigh #luxuryraleighrealestate #gridlock #ITBRaleigh

If you are a buyer hunting for a home in Raleigh, you are likely frustrated by the continued lack of inventory and shocking multiple offers on nearly every listing, resulting in prices being paid $50,000 - $100,000 over asking (on homes priced $425,000 - $999,000). While numbers like these aren't surprising in other cities' markets, this is a wild new ride for us locally.

Every good agent around town has a handful of listings ready for prime time once their clients find themselves a suitable "next home" to purchase. With few items available, we find ourselves in real estate gridlock.

The solution to this impasse comes with a bit of old-fashioned ingenuity!

Enter: creative problem solving.

Option 1

Please, please, please, if you are on the hunt or considering the sale of your home, talk to your friendly neighborhood realtor.

I happen to know of some, if you need a hand with that (wink, wink).

Simply sharing this knowledge with the network can help ease the flow of real estate traffic as more and more of us are cobbling together transactions piece by piece in a very hands-on, delicate fashion... playing Raleigh real estate matchmaker.

We are always minding the appropriate rules and regs, of course.

Option 2

Consider uncoupling your buy and your sell. While home rentals are challenging to secure, we have many luxury apartments that could serve your housing needs temporarily.

Option 3

Seriously think about new construction.

This option is gridlock resistant. Drive around the traffic and find the alternate route. You might be pleasantly surprised how the lanes open up.

Building from scratch takes a special blend of pre-qualification. Home hunters must have the financial and emotional capacity to weather approximately 12-14 months of a special kind of intensity.

But...for the vast majority of buyers, setting your sights on a home that is already underway makes the building process less painful and shortens the wait from contract to close.

This month's Edit brings us an unusual take on value for those in the position to consider "new" in the Raleigh real estate market.

Look at how the historical premium paid for new construction has narrowed:

With the dizzying run-up in resale demand/prices, dare I say that there is currently more value in new homes than ever before.....?

Do you still wonder if there is a secret stash of housing supply that someone isn't sharing?? Surprise/not surprised, it's hidden behind those shiny new doors we're talking about.

Supply levels are not balanced and certainly not GREAT, but, they are BETTER, vs resale.

See below:

What this segment of the market does is reward the risk takers, the buyers with a little vision and a little trust.

Dare to dream and search HERE.

Only a small percentage of our human population is gifted to visualize a 3-D outcome from 2-D plans. Buyers universally like to touch and feel the space...see the finished product before purchase. I get it. There is often so much at stake and so many complicated lifestyle considerations.

But for those who can manage the emotional stretch, the rewards can be great.

Until next time....

I'm yours truly,

Maggie

https://maggiehutten.bhhsysu.com/

The Raleigh Edit