I have a question when big corporations like America homes for rent and Black rock buy multiple locations here in North Carolina I’ve been seeing just to have that whole entire area for rent stops the new fist time home buyer. I’ve seen a lot of new construction being built here in Raleigh or a lot of townhomes which range from 300,000 to 450,000 an interest rates are still at 7.5%. A lot of people were backing out of these deals due to the fact of price increase on these homes and incentives that they are giving you is not worth it in my opinion. Including as well as the increase in hoa fees that do not cover a lot on your property their is a big problem out here in this market.
Great video Ellen! Question, what are some things to watch out for when buying an empty lot in the outer triangle area (i.e. Harnett, Franklin, Johnston, Chatham county, etc.) as an investment property? Thanks and look forward to your response!
Loved this video! We were going to sell and build a new home in Florida but pumped the breaks on that. Think we will sell next year and build either in Wilmington or maybe in Virginia (with a better builder of course lol)
@undefined69695 would you like a second opinion on some comps? Please shoot the information my way at ellen@harmonyrealtytriangle.com and I can take a look!!
Do potential clients have concerns about the home value due to: SuperFund sites in Wake County? Water coming from Cape Fear River with the history of high PFAS/ forever chemicals, in drinking water? The Southwake landfill smell in Holly Springs? Does this hurt property values? Harris Nuclear Plant near Apex in New Hill?
Great questions!! I have had one person ask about Superfund sites or PFAS chemicals since I have been practicing (2015). Just FYI, here is a link to Raleigh's information about PFAS in water raleighnc.gov/water-and-sewer/news/update-raleigh-water-learn-about-and-polyfluoroalkyl-substances-pfas#:~:text=PFAS%20and%20Raleigh%20Water&text=Yes.,cases%20our%20treated%20drinking%20water Regarding the power plant and the landfill, people ask about that all the time. I live in Holly Springs so I can speak about it personally. I have personally run market data comparing Holly Springs to other towns without close proximity to the power plant and landfill and found no difference. I did this before I bought a house here :) You can watch this video comparing Cary to Holly Springs for my thoughts on the landfill the 4:00 mark th-cam.com/video/G8L0MF2RMFE/w-d-xo.htmlsi=ud1qZZHLip6a2PAi
What I see here in Raleigh is new construction is low and the new developments are townhouses Tiny townhouses with one car garage at an stratospheric price Out of reach for new buyers My 2 sons are looking to buy a house but no way at those prices I guess what is happening is fear, fear mongering everywhere They say to what is going to happen in the near future and ain’t looking good The news has something to do with it An uncertain future And for some don’t look so good The people, some, are struggling to make ends meet The new generation willing to get a house just put it on the side, instead they rent an apartment or townhouse for less of what they would pay for an apartment And has to be with friends because the increase of living is high You have on top of the rent your expenses and groceries So, 2 or 3 friends get together and rent a townhouse and share the expenses How do I know? I have my 2 sons, and their friends are in the same situation Even with the girlfriend living with some friends Then I have a few friends around the age of 28-35 that I work with and are in the same situation Living together with some girlfriend or a few friends and at the end of the month struggling That’s, I guess, the age bracket of what they used to be new buyers Young couples willing to buy a house You have to look around and new big developments are just apartments At $1.800 - 2,300 for a 2 bedroom and they are really small Then add to that equation your expenses So, you have to make around $4.500-$5,500 a month to afford a house with everything included A very few make that much Or am I wrong? At least that’s my perception Edit Forgot to add People are moving out of the triangle, way too expensive Instead, they are willing to move far away, to Zebulon for example where is cheaper and taxes are not that high Even an hour one way commute every day to have a house that they can afford What’s going to happen when Apple comes to the triangle area? An increase in prices Like in San Antonio TX Yeah, more money around moving but be very cautious when investing as the prices would go up in a few years after Apple comes and start hiring
I hope rates drop and atleast prices stay stagnant. I bought in wendell falls in 2020. But now with 2 more kids i need to upgrade.. would like to stay in the neighborhood but it aint how it was when i bought in 2020 at all 😂
Is everyone still waiting for Apple??-affordable housing is not there, my kid pays 1700 for 2 beds, she will rent forever-im in Atlanta and very few people make the salary needed to buy
Yeah Apple is still coming!! They’ve been renting space in Cary for the last year or two. They expect to start construction on their campus here in 2026. It takes time to get everything through planning.
You not supposed to have a nice place by yourself. How are you not telling her to settle down and get married? Life is 3x as easy with a partner. The world has always been hard for singles.
@@joesmith3590That’s not always the case. If you marry someone with a lot of debt or who is reckless with funds then your life will be more difficult financially.
lol apple ain’t moving here any time soon. Everyone is cutting back and this will only get worse. They won’t cancel the contract because that looks bad but they have already delayed until 2028.
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love all the research (and fun editing) that went into this one
I’m so glad you enjoyed it!!!
Great video. Really liked your presentation and the data you put together 👍
Glad you enjoyed it!!
Excellent content and easy to digest. Thank you
So glad you enjoyed it!
I have a question when big corporations like America homes for rent and Black rock buy multiple locations here in North Carolina I’ve been seeing just to have that whole entire area for rent stops the new fist time home buyer. I’ve seen a lot of new construction being built here in Raleigh or a lot of townhomes which range from 300,000 to 450,000 an interest rates are still at 7.5%. A lot of people were backing out of these deals due to the fact of price increase on these homes and incentives that they are giving you is not worth it in my opinion. Including as well as the increase in hoa fees that do not cover a lot on your property their is a big problem out here in this market.
I’m not sure I understand your question. :)
Another nice, well researched video Ellen!
Glad you enjoyed it, John!!
Great video Ellen! Question, what are some things to watch out for when buying an empty lot in the outer triangle area (i.e. Harnett, Franklin, Johnston, Chatham county, etc.) as an investment property? Thanks and look forward to your response!
This is more than I can answer in a TH-cam comment! Feel free to schedule a call with me! www.harmonyrealtytriangle.com/contact-harmony/
Are there going to be any wooded areas in Raleigh in the next 5 years? There is only so much land here.
Wake county actually has a requirement to preserve a minimum of 30% of land as greenspace. So yes, there will be plenty of trees!
Great video!
Loved this video! We were going to sell and build a new home in Florida but pumped the breaks on that. Think we will sell next year and build either in Wilmington or maybe in Virginia (with a better builder of course lol)
Glad you enjoyed it!! Let me know if you want to chat about your homes value. I’m glad to take a look at it for you! Ellen.pitts@compass.com
@@EllenPitts thanks definitely will do
@undefined69695 would you like a second opinion on some comps? Please shoot the information my way at ellen@harmonyrealtytriangle.com and I can take a look!!
Do potential clients have concerns about the home value due to:
SuperFund sites in Wake County?
Water coming from Cape Fear River with the history of high PFAS/ forever chemicals, in drinking water?
The Southwake landfill smell in Holly Springs? Does this hurt property values?
Harris Nuclear Plant near Apex in New Hill?
Great questions!! I have had one person ask about Superfund sites or PFAS chemicals since I have been practicing (2015). Just FYI, here is a link to Raleigh's information about PFAS in water raleighnc.gov/water-and-sewer/news/update-raleigh-water-learn-about-and-polyfluoroalkyl-substances-pfas#:~:text=PFAS%20and%20Raleigh%20Water&text=Yes.,cases%20our%20treated%20drinking%20water Regarding the power plant and the landfill, people ask about that all the time. I live in Holly Springs so I can speak about it personally. I have personally run market data comparing Holly Springs to other towns without close proximity to the power plant and landfill and found no difference. I did this before I bought a house here :) You can watch this video comparing Cary to Holly Springs for my thoughts on the landfill the 4:00 mark th-cam.com/video/G8L0MF2RMFE/w-d-xo.htmlsi=ud1qZZHLip6a2PAi
@@EllenPitts Thank you!! Will watch it. Beautiful area. I worry about health and little ones. I work in Oncology.
Prices are unsustainable. I refuse to pay 300k$ for a basic house. I woukd need an exceptional job only to afford basic accomodation.
What I see here in Raleigh is new construction is low and the new developments are townhouses
Tiny townhouses with one car garage at an stratospheric price
Out of reach for new buyers
My 2 sons are looking to buy a house but no way at those prices
I guess what is happening is fear, fear mongering everywhere
They say to what is going to happen in the near future and ain’t looking good
The news has something to do with it
An uncertain future
And for some don’t look so good
The people, some, are struggling to make ends meet
The new generation willing to get a house just put it on the side, instead they rent an apartment or townhouse for less of what they would pay for an apartment
And has to be with friends because the increase of living is high
You have on top of the rent your expenses and groceries
So, 2 or 3 friends get together and rent a townhouse and share the expenses
How do I know?
I have my 2 sons, and their friends are in the same situation
Even with the girlfriend living with some friends
Then I have a few friends around the age of 28-35 that I work with and are in the same situation
Living together with some girlfriend or a few friends and at the end of the month struggling
That’s, I guess, the age bracket of what they used to be new buyers
Young couples willing to buy a house
You have to look around and new big developments are just apartments
At $1.800 - 2,300 for a 2 bedroom and they are really small
Then add to that equation your expenses
So, you have to make around $4.500-$5,500 a month to afford a house with everything included
A very few make that much
Or am I wrong?
At least that’s my perception
Edit
Forgot to add
People are moving out of the triangle, way too expensive
Instead, they are willing to move far away, to Zebulon for example where is cheaper and taxes are not that high
Even an hour one way commute every day to have a house that they can afford
What’s going to happen when Apple comes to the triangle area?
An increase in prices
Like in San Antonio TX
Yeah, more money around moving but be very cautious when investing as the prices would go up in a few years after Apple comes and start hiring
I hope rates drop and atleast prices stay stagnant. I bought in wendell falls in 2020. But now with 2 more kids i need to upgrade.. would like to stay in the neighborhood but it aint how it was when i bought in 2020 at all 😂
Is everyone still waiting for Apple??-affordable housing is not there, my kid pays 1700 for 2 beds, she will rent forever-im in Atlanta and very few people make the salary needed to buy
Yeah Apple is still coming!! They’ve been renting space in Cary for the last year or two. They expect to start construction on their campus here in 2026. It takes time to get everything through planning.
Rodney that's what I've been saying all along.
You not supposed to have a nice place by yourself. How are you not telling her to settle down and get married? Life is 3x as easy with a partner. The world has always been hard for singles.
@@joesmith3590That’s not always the case. If you marry someone with a lot of debt or who is reckless with funds then your life will be more difficult financially.
lol apple ain’t moving here any time soon. Everyone is cutting back and this will only get worse. They won’t cancel the contract because that looks bad but they have already delayed until 2028.
600k for a townhome at MAA vale off durleigh. Im laughing at people who are buying these townhomes for 600k! Insane.
Duraleigh is a great area though!!
If rates are 6% and your loan is 3%, and you’re selling to stay in the area, your a financial illiterate
Yankees stay away.