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Hello June!
We hope you and your loved ones are doing well!
As I write this newsletter in the middle of May, we are about to start on Phase 1 of the re-opening of the state.
How are you feeling about that? Do you consider this a good thing? Do you think it’s time? Do you think schools will open in the fall? We would love to hear your thoughts!
We are waiting for the restaurants to open (hopefully by the time this reaches you, outdoor seating is available). Waiting for hair salons and other small businesses to be allowed to open and operate. Waiting for life to resume back to some sort of normalcy or start with a new “normal.” I am wondering how many people will continue to work from home.
Please know that we will be here! Please feel free to reach out with any questions you may have regarding selling your home, looking for a property in the Raleigh area or looking for investment property. We are always happy to guide you (or friends/family)!
The Ismay Realty Group continues to give a huge Thank You! to all the essential workers that have been working so hard to keep us all safe while putting their own lives in harms way. Thank you!
Please stay safe and healthy! Stay home, if that feels best for you. We all continue to get through this together!
All the Best,
Greg
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We appreciate your referrals! There is no greater compliment you could offer us!
If you know someone who is ready to sell or buy a home, be sure to contact Greg at 919-882-6005 and share their information (with their permission) and they will receive superior service.
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A Story of How Helping One Family Leads to
Helping Many Families
On September 16, 2018 Ron responded to an ad for the Ismay Realty Group website: SearchHomesInRaleigh.com. Always big on follow up, Greg placed several phone calls before he and Ron connected, whereby, he learned that Ron and wife, Ally, wanted to make a move and were not sure whether to build a new home or buy an existing resale home. Greg originally met with the couple on October 11, 2018 and mapped out preliminary plans that wouldunfold over the next 16 months. After much follow up, showings of new and resale homes, a decision to build a new home, advice on preparing the existing home for sale and developing marketing plans to get top dollar, the couple is settling in their new home!
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Here is their sale. Multiple offers and $26k over list!
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And here is their new home. Nearly 5000 square feet with an unfinished basement that will provide plenty of room to expand!
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On February 1, 2020 Greg conducted an open house to kick off the sale of Ron and Ally’s home. There were over 50 people who visited, leading to
multiple offers with an awesome outcome.
Jay and Samantha attended the open house and shared with Greg that they had been looking for a home and noticed that the ones they liked were
going fast. Greg suggested they hire an agent and that he’d like to be their first interview candidate. A few weeks later, Greg met with the couple and laid out preliminary plans for their search. Within three weeks of meeting Greg at Ron and Ally’s open house, Jay and Samantha were under contract. Meanwhile the Durham Register of Deeds had a cyber attack that delayed all closings in Durham County until the data was restored and title searches could be conducted. Finally, on April 13, 2020 Jay and Samantha closed on their home!
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On March 31, 2020 Greg received an email from Trevor, a colleague of Jay’s. Trevor had been looking at homes and realized he needed some help in finding what he wanted and being able to act quickly in a fast market. Jay recommended he contact Greg and after a phone conversation the two met at a listing that appeared as though it might be a hot property and move quickly and yet after seeing the home, both agreed that it was not worth pursuing. Yet the pursuit was on and
Trevor laid out organized bullet points of what he was looking for. Greg suggested a home that Trevor liked well enough to submit an offer which ended in a multiple offer bidding war that went above where both Trevor and Greg felt was reasonable. Within a couple days another home popped on the market that was even more compelling than the missed opportunity. Trevor decided this one was worth going after and Greg structured a plan that won the multiple offer bidding. So, by the time you are
reading this, Trevor will have closed on his new home!
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Are Coronavirus Fears Spurring New Construction Frenzy?
The idea of a brand-new home that no one has ever lived in and that reflects your choices and needs has always sounded pretty appealing, right? But now that we’re fighting a worldwide pandemic, this option seems to be growing on many a homebuyer.
“In the initial four weeks of the national shutdown, sales of newly built homes began falling precipitously, down 85% from normal spring activity by the fourth week,” said CNBC.
“In the past two weeks, however, the numbers have started to climb,
according to John Burns Real Estate Consulting, which tracks hundreds of builders nationwide.”
Interestingly, that growing demand for new construction is being driven by “a wave of renters…leaving their apartments and eyeing new homes, Devyn Bachman, manager of research at JBRC, told them. “In her
research, Bachman found demand for new construction heavily skewed toward renters, especially young couples with two incomes who feel secure in their employment.”
The push for new construction is largely location-motivated; many of these renters who currently live in cramped confines in packed urban areas are, perhaps not surprisingly, seeking more space in the suburbs—right in the new construction sweet spot. They’re also looking at homes that are
already being built or standing inventory that they can move into quickly.
Mid-Atlantic Builders, a builder in Maryland and Northern Virginia, just sold three spec homes, with plans to build more for buyers who “would rather just walk through a new home and buy it,” Stephen Paul, the company’s executive vice president, told them.
But vacant homes are not just limited to new construction. Many resale buyers are specifically focusing on homes that are not currently occupied.
“Vacant homes are still being listed and shown, according to realtor Lyssa Seward, president of the Seward Group at TTR Sotheby’s International in Washington D.C. and Alexandria, VA. Brittanie DeChino, vice president of the Seward Group, told CITYLAB that, “In D.C., the supply of vacant homes for sale could carry the market.”
Team Diva Real Estate at Coldwell Banker Bain in Seattle has gone so far
as to limit their listings to vacant homes. “We’re not listing any homes that someone is living in,” said Managing broker Kim V. Colaprete. “I’ve been very hardcore about if you are living in a home it’s really not safe for you to do that.”
By Jaymi Naciri for RealtyTimes.com
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At only 26, Megan Flynn decided it was time to buy her first home. She reached out to Greg on Zillow and asked to see a home that had just popped on the market yet after seeing it, decided it wasn’t for her. She did decide that she wanted to work with Greg and so the hunt began. With a little advice from her father, John, she searched North Raleigh high and low, making herself available to see properties immediately once they hit the market. As she saw more homes, she began to understand how the market was moving and what she could get within her price range. Finally, she found a home that was worth making an offer. Expecting multiple offers
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THANK YOU for reading our newsletter. We wanted to produce a newsletter that has great content and is fun and valuable to you. Your feedback is always welcome.
AND...whether you're thinking of buying, selling, or financing real estate, or just want to stop by and say "Hi!," we'd love to hear from you...
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Disclaimer: The information contained in this letter is intended for informational purposes. It should not substitute as legal, accounting, investment, medical or other professional services advice. Always seek a competent professional for answers to your specific questions. This letter is not intended to solicit real estate properties currently for sale.
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