The Real Estate Market In Clayton.
If you’ve read some of my blog posts about the real estate market in Clayton, you might have read the phrase that “all real estate is local”. I am a firm believer in that statement and it can often be drilled down to town, subdivision, neighborhood, street, house. What makes one house sell and another sit, is it the house, the price the neighborhood the market. The big picture plays a large part in how houses sell and for what price. In looking at the region we live in, namely the Triangle of North Carolina, you will see certain trends occurring that have the same consequences for people selling their homes in Wake Forest, Clayton or Raleigh.
The homes below are under contract …
In general what happens in the Triangle real estate market is similar to what happens in many of the towns and counties that make up the Triangle. There are exceptions, for example the Cary real estate market is very different to the Clayton real estate market in a number of factors. There are currently one months supply of homes in Cary for homes priced from $150,000-$400,000., in Clayton and Johnston County that number is 4-6 months supply. In Cary there were roughly 610 homes sold in 2014 priced between $400,000 and $600,000, in Johnston County, that number was 54. So there is an example of real estate being local while still being part of the larger picture. If you have a $600,000 home for sale in Clayton, it might take longer to sell with 10 months supply…but at least there’ll be less competition.
It Helps To Know Where Buyers Are Moving To Clayton From.
Who is moving to Clayton, NC and why, is it families with young children interested in good schools or is it retirees heading south to get away from the bitterly cold northern winters? The answer is it’s both and there are lots more reasons why people move to Clayton and they come from all over the country. It might help to know that people from New Hampshire are looking at homes for sale in Clayton with big yards or that couples in New York are downsizing and moving to the area.
The Most Popular Neighborhoods In Clayton.
There are some wonderful neighborhoods in Clayton, some are large and have different neighborhoods with thousands of homes while others consist of one road in and maybe 50 homes in the whole subdivision. Obviously the larger developments have more homes to sell and generate a lot of traffic. But they are not for everyone and while they offer many sought after features such as fitness centers, pools, shopping there are plenty of people who have no need for those types of amenities and would rather live in a smaller neighborhood where they might put in their own pool for example. Neighborhoods with low or no HOA dues are popular, neighborhoods in Clayton with large lots, established landscaping, golf course communities in Clayton are sought after. Equestrian neighborhoods are popular, again not for everyone but you’re not trying to sell your house to everyone, all you need is one buyer. The point here is that whatever your neighborhood offers, promote it as one of the most popular neighborhoods in Clayton.
Home Prices In Clayton, NC
Home prices are up about 5% in Johnston County and about 3.5% in the Triangle. That is based on about 4000 homes that sold in 2014 and it is a general number including all properties. 2014 was the year where we saw a shift in certain price points from homes sitting on the market to no homes being available and multiple offer situations coming into play for the first time in years. Inventory levels have dropped about 6.5% which is good news for home sellers as this will help to consolidate price gains. Homes in Clayton are selling for about 97% of list price when sold and 95% of original list price. Recent comparable sales, inventory levels, days on market, sales activity is what we use to tell what homes are selling for in Clayton and comparable is the key word for you if you are going to be selling your home in 2015. Look at comparable homes, that is homes of the same size, age, condition and proximity to yours to determine what your house will sell for.
Why Do Some Houses In Clayton Sell And Others Don’t?
Some houses in Clayton sell really quickly and others don’t and there is nearly always a good reason…nearly! It might be a particular feature such as a pool or a workshop, land or a basement. It is often the case that a very well kept, clean and uncluttered house with popular upgrades will sell in a much sorter time frame than a house that has not beed updated, is cluttered and does not show well. I have had home buyers look at pictures of a home and cross it off their list and I have had buyers walk into a house and turn around and walk right out. I have also shown homes where it is a unanimous decision that this one could be the one. This is normally the home that buyers spend a fair amount of time in. To show how important having your house in tip top condition is when you’re selling, consider the fact that it may be the buyers second choice, their first choice falls through, this is often when buyers are ready to close. Make it so your house is their first second choice.
What’s It Cost To Get A House Sold In Clayton?
If you choose to sell your home in Clayton will it require a lot of work or expense? This is a unique situation to the age of the home, the condition of the home, what was replaced by the sellers while they lived there and what upgrades did they do. It also has a lot to do with how much money can you the seller afford or be willing to put into the house to get it sold. It may be as simple as a good cleaning, some mulch out front and off you go or it may be complicated with paint and carpet, appliance and roofing issues. You can find all sorts of guides on the Internet about what is the best investment to make to your house to get the best return on your investment. I advise caution when faced with spending thousands of dollars on a feature that may not even appeal to a home buyer.
Some improvements are inevitable and should be completed before putting the house on the market, if the carpets are worn and dirty, they should be replaced, pick a neutral color and don’t go for the cheapest kind, buyers pick up on that. Painting a whole house is expensive so you might get away with the main living areas or you could take on the job yourself. Don’t do it if you are not going to be neat and tidy. There are some cases where in order to get a house sold quickly you might have to do expensive upgrades like appliances or counter tops, hardwood floors or lighting fixtures. Take a look at similar homes where the sellers did the upgrades and compare them to homes that sold with no upgrades, may be the price difference was negligible but the home with the upgrades sold quicker.
Selling Your House FSBO….Don’t Do That!
FSBO or For Sale By Owner was a way to sell homes about 10 years ago and if the conditions are right it could still work out but you’ll need some luck and time on your hands. So how do home buyers find homes for sale in Clayton, NC? By far the first place home buyers will see your home is on the Internet. First place on the Internet where buyers find homes for sale in Clayton is the same for homes for sale in Boston, homes for sale in Tacoma, Washington and that is one of the big real estate websites such as Zillow, Realtor.com, Homes.com. These sites pull listings from the Triangle Multiple Listing Service daily and broadcast them to the world. They also pay the search engines millions of dollars to appear on the first page of Google when buyers start their searches. So if your house is on in the MLS it’s not being picked up and shown on the search engines.
Having total strangers knock on your door and ask to take a walk through is not everyones idea of fun, nor is it a particularly nice feeling when they say they’ll pay you $20,000 less for the house and could you finance then as well. I have had to present low ball offers to my clients before and the added buffer of me as a listing agent and the buyers having their agent is a much softer blow with no emotions to cloud the water. You’d be surprised what people might think of your home and it isn’t always good sometimes enough to lose the deal.
All Real Estate Agents Do The Same Marketing Right?
Once you decide to list your house with a Clayton real estate agent or any agent for that matter, what do they do. At the very least you’d expect the house to get listed in the MLS service as we talked about in the previous paragraph. Broadcast around the country for home buyers in Boston, MA, Tacoma, WA or Woodbridge, NJ to check out on their computers, smart phones and tablets. Trouble is there are hundreds of homes entered in the MLS every day, thousands of homes online at any given time, the trick is to get your house front and center with these buyers. Buyers can easily find homes for sale in Clayton once they do they start to drill down to find out more about the neighborhood, the schools, the commute to Raleigh or Smithfield. What are the restaurants like, how far is the beach, the airport or the hospitals? Once the buyer starts looking for this information how does your house get found.
With this website we focus on promoting your home and the neighborhoods around Clayton with information buyers are looking for, above and beyond the standard MLS listing. We create a single property website with tons of information about the home, about the neighborhood and the schools. We attach video, virtual tours, additional documents and multiple high quality pictures. We use social media to promote our listings but in a way that won’t annoy people. We talk about restaurants opening, walking trails, shopping, trips to the beach and the mountains. We look for festivals happening near Clayton and events for families to enjoy nearby. State parks, museums, shows and local happenings to give home buyers a better picture of life in Clayton and The Triangle, they stay on our website and there’s a good chance they will see your house if you have it listed with us.
If you would like more information about selling your home, would like to sell your home in Clayton, or you have a question you need answered send me an email at email@example.com or give me a call David at (919) 601-2268