I’m so happy to announce the real estate market is coming back and it’s becoming a good time to sell. To date the number of housing transactions in 2015 have exceeded those of 2014. Better yet Moore County is nearly back to the same number of transactions which took place at the height of the housing market in 2006.
The market is hot in some areas and has been very active all summer…for example: Recently I had a buyer find the home of their dreams. The house had only been on the market for 21 days and the asking price was $379,000. Thinking back I recognizd the home from showing it approximately two years ago in 2013. It did finally sell in 2014 for $342,000 after being on the market for 442 days. It is an exceptional home with many special features, located on a golf course and was built in early 2008. We submitted our offer, however we were in a competitive multiple-offer bidding situation. But I’m happy to report my buyers are now under contract for this exceptional move-in ready home. The lengthy time on the market in early 2014 shows how slow the market was at that time and how far we’ve come since then.
Why the positive change? This is because we have a very different buyer and a very different demographic model. The Moore Business Group now describes the updated demographic groups of Moore County as:
Creative Retired- These are folks who haven’t really dropped out, they still want to stay engaged either through business or becoming active in the community.
Military– Our proximity to Ft. Bragg is an advantage for us, and more and more military families are choosing to put down roots here. These are primarily Special Operations families which represent the best educated and talented segment of the military. When they retire they are still young and many are interested in starting new businesses. Our two breweries and numerous other small retail businesses are great examples of military entrepreneurship. We have at least 10 former military startup companies in Southern Moore County most of which are technology based and have contracts with the government.
Our Kids– Many of the children who grew up in Southern Pines and Pinehurst and left after graduation are choosing to come back home…not because they have to, but because they want to return having lived in other parts of the country and world. They’re well educated, starting families and opening new businesses. I’ve always believed that grown kids returning to their hometown is a sign of a vital and healthy community.
Relocates– These are folks in the Triangle and other NC metro areas that came from somewhere else. Typically to work for large companies and can live anywhere and many choose to commute, take Cary for instance. Luckily Moore County has been getting many of these new residents without really trying but with some effort and targeted recruiting I believe we can start a trend.
If you’re thinking of selling your home, taking advantage of and understanding today’s positive market and new demographic base is essential. I’ve found the key to creating a short sale cycle and selling your home fast is having it “MOVE-IN READY”. If buyers have to remove wallpaper, change flooring, upgrade the kitchen and baths, the home will remain on the market longer and may sell below true value. Want to find out how best to prepare your home and sell it for top dollar?
Call or text me today at 910-528-6427.
–Lin Hutaff