Say Hello to Your New California Neighbor
Ray and Sue Manzo from Moreno Valley are just two of the many Californians who are packing their moving vans and setting their sites on Raleigh NC. What does this mean for NC real estate?
When there is a mass exodus from California to a new area of the country, real estate values in that area tend to rise. Because Californians are accustom to paying so much more for real estate and often have a great deal of equity to contribute after selling their California home, they are less likely negotiate for a lower asking price than many local residents.
Displaced Californians also tend to affect new real estate economies in other ways. With extra cash on hand from the sale of their homes, they tend to invest in properties and sell them quickly, or rent them out and wait for them to appreciate. This is precisely the way that many people have made fortunes in the fast paced California housing market.
This isn’t necessarily great news for these new markets, as the flurry of activity often sends home prices rising. The good news for NC residents is that most California investors are setting their sites on places closer to home like Arizona, Oregon, and Nevada.
But aside from the rich investors, there are plenty of average people who simply cannot afford to live in California any longer and looking to places like North Carolina where they can buy a home, enjoy life, and raise their families.
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Just in case you needed another reason to feel smart about buying a home in North Carolina, just take a look at Coldwell Banker’s latest 2006
With the recent news about the 
There is a small but growing trend of home owners selling their own homes directly. The motivation is the money saved by doing the work themselves rather than paying an agent. But as a buyer, is it a smart idea to buy from someone who is selling their own home?
We meet a lot of people who are debating about whether to buy in one of the new home communities or in an established neighborhood. New housing communities have a certain allure about them. The homes are brand-spanking new and the neighborhoods are fresh with possibility. Inside the sales office there are often beautiful watercolor sketches of how the neighborhood will look and function once complete. Many of the new master planned communities are designed to promote specific lifestyles and many people find that very desirable.
You’ve heard the saying: “Location, location, location,†it can be easy to get caught up in the qualities of the home itself and lose sight of the overall location. My friend’s father used to say “It’s better to buy a Pinto home in a Cadillac neighborhood than it is to buy the Cadillac home in the Pinto neighborhood.†Though I didn’t understand it as a kid, his words were wise. Now I’m keenly aware that the popularity of the neighborhood is one of the biggest driving factors in the value of a home.