Chapel Hill NC Real Estate, Pittsboro NC Real Estate Information and More

This year the Orange County Briefing had a lot less drama.  Of course, the last 12 months have provided plenty of drama for most everyone in the room. 

Most of the news was old news; sales are down but recovering, home prices have stayed stable, most sales are in the under $400k market, most of the inventory is in the over$400k price range.  Sales are brisk in the small under$200k market. 

Luxury condos continue to be built.  Financing for luxury condos is tough to find. Interesting.  Jim Norton, the director for the downtown partnership feels the luxury condo rental market will be where the action is.  Letting people 'sample' downtown living before committing to a $600,000 property.  Yet, condo buildings with a large percentage of rental units are more difficult to finance.  It remains to be seen how many investors there are interested in the upper price range properties in Chapel Hill.

Brad Broadwell, who directs the Economic Development Commission, has worked to bring alternative energy businesses to Orange County.  While no one has committed to the county he is hopeful one of the six companies who have expressed interest will move ahead with their plans to locate here.

Broadwell said that while the county's unemployment rate has doubled from last year, it is still lower than the regional  rate.  I'm not sure that is accurate.  Many people in Orange County are self employed or are in sales. If their businesses are doing NO business or almost no business, they are essentially unemployed, yet, are not counted in unemployment rates. I suspect the unemployment rate is about the same as the rest of the area.

There was much talk about additional office space and retail space coming on line in the next year to eighteen months.  While Orange County, and Chapel Hill in particular, needs more non residential tax revenue to lessen the burden on homeowners (Chapel Hill has1/2 the non residential revenue of most cities/towns), it seems we may have a glut of office/retail space soon.  Downtown offices now filled by UNC will move to Carolina North when it is built.  Those offices, along with all the new space being built in the multiple condo or mixed use projects, will create A LOT of square footage. Perhaps it will drive the rental rates down to better compete with prices in the region. Most are one third to one half less. That in itself would attract more business and keep more business in our area.

Hillsborough, in my eyes, is the star of the countyright now.  For the last 20 years many of us have felt Hillsborough was ready for her day in the sun.  It has come.  Restaurants, parks, galleries, and affordable housing are bringing life to town.  The historical past, current government jobs and small town charm are very attractive to buyers.  UNC hospital is planning on opening a facility in Hillsborough.  Durham Community College now has a branch there.  A railroad spur for Amtrak and area light rail is in the works.

Happily, there is no more talk of dismantling or destroying the well planned and established rural buffers in the county.

The county has challenges.  Fortunately, the county is filled with smart, thoughtful, educated citizens and leaders.  The good schools, educated work force, moderate weather, excellent local food and music scenes provide plenty of reasons for Orange County to continue to attract residents.  The future for Orange County continues to look bright. 

Many times buyers describe what they are looking for in a home to a Realtor, but end up buying something totally different.  Why?

A  Realtor will ask you about what you need in a house; square footage, price , number of bedrooms, baths.  You may have more specific needs in mind, too;  a large kitchen if you entertain a lot or have a large family; a small kitchen if you are single and rarely home,  a large garage for the cars, plenty of storage for stuff, lots of natural light, or a fenced yard.  We Realtors find out what you ‘need’, but often not what feeds your soul and feels like home.

To better understand how to find the right home for you in the shortest amount of time, I now take an approach similar to architects or designers.

First, we will consider your ‘developmental place history’; for instance, where you grew up, a favorite relative’s home, a summer cottage.  If the beach or mountains have been your retreat, that feeling can be mimicked by wood floors, paint, reflective surfaces or stone. Avoiding building styles that evoke unpleasant memories is equally important.  Your parents divorced while you lived in a ranch house?   Ranch homes will probably not be appealing to you.

Next, review your home and belongings and find at least four or five beloved objects.  They often reveal how you see you world in a way you may not have realized. For instance, my favorites include items made from wood, silver and turquoise.  These items probably subconsciously remind or reinforce me of my upbringing in New Mexico and comforting times in my grandparents antique filled home.

Finally, describe the place that makes you feel your absolute best.  If hikes in the mountains are where you are happiest, a home in the middle of a field may make you unhappy.  Likewise, a woman who moved here from the west felt claustrophobic because of all the trees.  She missed the vistas.  A move to the beach proved more suitable.

Thinking about where you feel best, also aids in understanding other people and what you might think of odd decorating.   You know, the completely camouflage bedroom, the den with 500 scale model cars, the living room with the complete set of Franklin Mint plates, the purple office….all a comfort…to someone.

Some time spent considering the emotional impact of a property, as well as the financial, maintenance and safety considerations will ensure you of making a sound decision on your new home.