There's been a ton of buzz for about a year, and now Chapel Hill's Briar Chapel neighborhood has a new feature - a 55+ community named "Encore". Developed exclusively by Briar Chapel homebuilder David Weekley Homes, Encore features amenities that are sure to attract people looking to downsize or simply enjoy an active adult lifestyle.
Tucked away on near Briar Chapel's western edge, Encore's biggest attraction will be it's own swimming pool and amenity center. Residents will pay a slightly higher HOA fee - however that not only gets you access to the amenities, but it also takes care of your lawn maintenance.
What else do you get for your money, and how much money are we talking?
There are two sets of floor plans to choose from each with five plans each. The smaller floorplans are called the "Classic Collection" and prices start under $320,000 with 2 bedrooms, a formal study and a two-car garage. Options include a fireplace, additional storage and screened porch. Sizes range from 1591 to 1910 base square feet.
The larger floor plans are the "Tradition Collection" with sizes from 2109 to 3211 square feet. With more size comes more options such as the ones listed above but the Tradition line can also include additional bedrooms, bathrooms, guest suites, and more.
Also with more size comes more money, with base asking prices ranging from $366,900 to $418,900.
With only 188 home sites to build on and well over 600 people initially interested, David Weekley will be adjusting those prices to try and slow things down as they plan to build out over the next three years. Feel free to interpret that as "they're rising prices because people are willing to pay it.) They've already sold a couple of dozen homes...so if you're interested, prepare to wait a bit.
Want more info, floor plans, or pictures? I'm your Briar Chapel expert! Just shoot me a message and let's chat about what you're looking for.
The Triangle Business Journal reported the 25 wealthiest zip codes around the Triangle in 2016.
But I thought I'd take it a step further. Below you'll not only see the average income for those zips for last year, but click on the map and you'll see homes currently for sale!
25. 27527 - Clayton
24. 27572, ROUGEMONT
23. 27571, Rolesville
22. 27514, Chapel hill
21. 27540, Holly springs
20. 27587, wake forrest
19. 27523, apex
18. 27502, apex
17. 27376, west end
16. 27513, cary
15. 27562, new hill
14. 27516, Chapel hill
13. 27312, pittsboro
12. 27539, apex
11. 27613, raleigh
10. 27511, cary
9. 28374, pinehurst
8. 27712, durham
7. 27615, raleigh
6. 27519, cary
5. 27608, raleigh
4. 27517, chapel hill
3. 27614, raleigh
2. 27503, bahama
1. 27518, cary
You might be wondering to yourself, "Self, why are some of those current average list prices so much higher than last year's average sales price?"
Well, Self. Homes that are outside of the norm tend to take longer to sell - even if they're worth it. So if they didn't sell last year chances are they're still on the market looking for that perfect buyer and that inflates the current number, because most of the currently listed homes aren't "fresh".
Wait a couple of weeks and we'll hit the spring market and things should level off with a 5-10% appreciation rate depending on the town's hotness.
As a Realtor here in Chatham County, this mega-project is something that I've been following for a while, and now there's finally a timeline!
And maps! And renderings!
Cary's Preston Development plans to start construction on Thale's Academy in the next 60 days along with three more office buildings in 2017. In addition to that, they plan to lay the first utilities and roads for the first residential neighborhood before the end of the year.
Preston's Tim Smith went on to say the first homes should start construction in the next 14 months. Since homes generally take six months to build, expect the first closings to take place before the end of 2019.
Can't wait that long? Check out my Chatham County Neighborhood Guide and see what's on the market now in many neighborhood around Chapel Hill and Pittsboro. After you find a home you're interested in, give me a call and we can set up a tour.
Chatham Park is a multi-decade development project near Pittsboro, NC and is expected to be on the same scale as Research Triangle Park spanning 7,000 acres with homes, shopping, medical, and more.
A couple of weeks ago I was able to achieve something that's rare in today's mortgage world - a 10 day settlement. That means in less than two weeks I was able to get my client from contract to closing.
Being able to close in such a short amount of time can make you VERY attractive to a seller. If you're competing in some of our hotter markets, it could be enough to make you stand out and win against multiple offers. However, it's not for everyone.
For starters, your lender makes all the difference in the world. The large banks have tens of thousands of applications going through their pipeline at any time so files tend to get lost in the mix. I know two excellent local lenders who can help.
Secondly, it helps if you're able to get ahead of the game by getting documentation to the lender so they can get the approval process running. My client had pay stubs, tax statements, and everything else ready to go. So if you need some time getting that all together, you'll need more time to close. Most lenders these days have a full pre-approval process that will get you pretty close to the finish line before you even sign an offer.
It'll take some work, but in today's market with tight inventories, it will take all of us working together to get your perfect house.
Want to know what lenders can help us get it done? Shoot me a message!
If the weather predictions are correct, we're going to get up close and personal with Old Man Winter this weekend with 6-8 inches of snow followed by a low temperature of zero.
Since we don't often face weather like this in the Triangle, here are some things you should do to stay ahead of the weather: