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TOPIC: Crazy real estate market in Cary

Crazy real estate market in Cary 9 years 5 months ago #25876

I moved here from NJ with a hope to buy a decent size townhome or SFH with in couple of weeks/months. To my surprise inventory is very low and there is lot of demand for homes below $400. Why desi population is very crazy here and offering more than asking price. Communities like Fryer Gate@Lenner is going for closed bidding. Another builder Pulte@Village Park townhomes is asking one to purchase what ever lot available when they call you.

This market is not in favor of to be home owners. I wish many communities are open same time, this way competition will come down. Builders are making money now.

Now I am looking for second homes. But there is demand for them also.

Share you thoughts here and suggest me any good communities to look for Cary/Morrisville/Apex area?

Is there any Indian population in Raleigh area? I am ready to move any location where I find couple of Indian families and with in Wake county school system.

Thansk

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Crazy real estate market in Cary 9 years 5 months ago #25883

hydcary, have patience and take time to look around. There seems to be pent up demand for new homes. Builders are creating false demands some times about availability. It is surely sellers market where houses are being bought very quickly. You may want to rent for a while before buying. I feel the rental market is soft and you can find very good deals in renting.

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Crazy real estate market in Cary 9 years 5 months ago #25892

Thanks for the advise. I can see there are lot new communities are going to come here. But there is a fear that interest rates are going to go up. Also home prices are going up to as land become expensive. In a way the new home buyers are not going to get good deal.

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