Expert: Current state of Raleigh's real estate market

Amanda Pendleton, Zillow's Lifestyle Expert, shares insider tips for savvy sellers, buyers and anyone thinking about their home value.
Posted 6/11/2019, 3:00:12 PM

BACK TO YOU .

>>> RALEIGH'S REAL ESTATE

MARKET CONTINUES TO BOOM,

THANKS TO GROWTH IN TECHNOLOGY.

THE HOME SHOPPING SEASON IS RED

HOT IN THE TRIANGLE.

AMANDA IS HERE TO SHARE INSIDER

TIPS ABOUT HOW TO BUY OR SELL

YOUR HOME.

GOOD MORNING TO YOU AMANDA .

>> GOOD MORNING, GREAT TO BE

HERE .

>> WE CHATTED DURING THE BREAK,

I WAS LOOKING TO BUY AND WHEN I

WAS LOOKING TO BUY IT WAS

INCREDIBLY DIFFICULT, I

CONSTANTLY GOT IN BIDDING WARS.

AS AN IS SLOWING DOWN JUST A

BIT ?

>> GROWTH IS SLOWING DOWN, SO

YOU'RE ABSOLUTELY RIGHT,

RALEIGH IS A RED-HOT MARKET

RIGHT NOW, HOME VALUES HAVE

GONE UP 27% IN THE PAST FIVE

YEARS.

WE ARE CONTINUING TO SEE THAT

GROWTH SLOW A LITTLE BIT.

FOR SOME PERSPECTIVES LAST YOU,

WE SAW HOME VALUES APPRECIATE

LAST YEAR SIX BICE 6% EVERY

YEAR.

THIS LAST YEAR ABOUT 3%.

ALSO THE PERCENTAGE OF HOMES

SELLING ABOVE ASKING PRICE HAS

DROPPED.

SO FEBRUARY 2018 WE SAW ABOUT A

THIRD OF OUR HOMES ASK NOW

ABOUT A QUARTER SELLING ABOVE

THAT .

>> IT WAS OUT-OF-CONTROL WHEN I

WAS TRYING TO BUY.

THAT'S WHAT IT TRANSLATES TO,

BIDDING WARS IN TERMS OF GROWTH

?

>> ABSOLUTELY.

THERE WERE SOME INCREDIBLY FAST

MARKET.

WE ARE SEEN ON AVERAGE HOMES

ARE COMING ON THE MARKET AND

THEN CLOSING WITHIN 46 DAYS,

WHICH IS NEARLY TWICE AS FAST

AS THE NATIONAL AVERAGE.

THIS IS ALL GREAT NEWS FOR

SELLERS.

A 61% OF SELLERS ARE TRYING TO

BUY A NEW HOME AT THE SAME TIME.

TIMING THE SALE OF YOUR HOME

WITH THE PURCHASE OF A NEW HOME

IS STILL STRESSFUL .

>> WHAT IS YOUR ADVICE?

>> START EARLY AND BE

STRATEGIC, NUMBER ONE REGRET

FROM SELLERS IS THAT THEY SAY

THEY HAVEN'T GIVEN THEMSELVES

ENOUGH TIME TO PREPARE

THEMSELVES. ON AVERAGE THEY DUE

TO IMPROVEMENTS PAINTING AND

LANDSCAPING.

WHEN YOU TALK ABOUT BEING

STRATEGIC PUT YOUR HOUSE ON THE

MARKET AT THE RIGHT TIME.

FIRST COUPLE WEEKS OF JUNE YOU

CAN SEE A $1600 PREMIUM ON YOUR

HOME.

ONLINE APPEAL IS A NEW APPEAL.

VAST MAJORITY OF BUYERS ARE

STARTING THEIR SEARCH ONLINE.

SO TALK TO YOUR AGENT ABOUT

USING DRONE PHOTOGRAPHY TO

HIGHLIGHT YOUR HOME'S BEST

FEATURES.

3-D HOME GIVES A VIRTUAL WALK-

THROUGH OF YOUR HOME TO A

POTENTIAL BUYER.

THE OTHER THING IS, CONSIDER

ALL YOUR OPTIONS.

IF ALL OF THIS SOUNDS WAY TOO

STRESSFUL, THINK ABOUT SELLING

YOUR HOME DIRECTLY TO A COMPANY

LIKE ZILLOW.COM . GO ONLINE AND

GET A FREE NO OBLIGATION CASH

OFFER AND YOU CAN WALK AWAY.

NO OPEN HOUSES, YOU DON'T HAVE

TO FIX UP YOUR HOME FOR SALE .

>> YOU MENTIONED PAINTING AND

PEOPLE ARE PUTTING LIKE TENS OF

THOUSANDS OF DOLLARS INTO THEIR

HOME.

WE DO NOT RECOMMEND THAT?

IF THEY ARE SELLING ?

>> YOU HAVE TO DO THE

RENOVATIONS THAT ARE CORRECT

AND GOING TO GIVE YOU THE MOST

BANG FOR YOUR BUCK.

WE HAVE SEEN OVER AND OVER

AGAIN THAT PAINTING AND

LANDSCAPING, IT SHOWS THAT YOU

CARE FOR YOUR HOME.

IT SHOWS THAT YOU PUT SOME LOVE

INTO YOUR HOME.

BUYERS COME IN AND I THINK THIS

ISN'T A LEFT BACK HOME THIS IS

A HOME THE PEOPLE HAVE KEPT UP

AND MAINTAIN.

>> IF YOU WANT MORE

INFORMATION, JUST GO TO

ZILLOW.COM.

PAINTING AND LANDSCAPING,

THAT'S ALL YOU HAVE TO DO, YOU

© WRAL