Report Indicates Triangle Housing Market Continues Positive Growth

The Triangle Multiple Listing Service has just released their local market update for September 2012, and the trend continues to show positive growth.

Here are some of the highlights:

• Closed Sales were up 19% in year over year data.
• Pending Sales rose 25.3% compared to last year.
• Inventory levels shrank by 23% over last September.
• Median Sales Price increased slightly by 1.9%.
• Days-on-Market (DOM) was down 12.5% to 114 days.
• Months Supply of Inventory was also down 33.7% to 6.9 months.

The data reflects information on properties located in the 16 counties of the greater Triangle Region, including Chatham where Briar Chapel is located. The percentage changes are comparisons with the prior year’s month unless otherwise noted.

There was also good news from the housing market this week:

• The September 2012 Pending Home Sales Index (PHSI), which is based on signed contracts, was 14.5% higher than the same period a year ago. Year-over-year, the PHSI has increased for 17 straight months.
• The October 2012 NAHB/Wells Housing Market Index (HMI) rose to its highest level in 6 years.
• Housing Starts and Permits also rose to their highest levels in four years this week.

Four Briar Chapel Homes Named 2012 Parade of Homes Winners

Congratulations to three members of Briar Chapel's builder team for nabbing four wins during the 2012 Parade of Homes, presented by the Home Builder’s Association (HBA) of Durham, Orange and Chatham Counties.

Gold Award Winners:

• 371 Tobacco Farm Way (Homes by Dickerson)
• 39 Pokeberry Bend (Saussy Burbank)
• 139 N. Serenity Hill Circle (David Weekly Homes)

Silver Award Winner:

• 351 Dark Forest Drive (Homes by Dickerson)

Homes entered into the Parade were divided into price categories and judged by teams of builders and new home professionals from other markets. Submitted homes were judged prior to the start of the event on criteria including quality workmanship, floor plan and curb appeal.

5th Annual Pittsboro Pepper Festival Today!

The 5th Annual Pittsboro Pepper Festival is being held today, October 14th, from 3-7pm at Briar Chapel's newest park, the Briar Commons. Come celebrate the food and drinks made from the Piedmont’s sustainable farmers, chefs, brewers and artisans!

This annual event supports The Abundance Foundation. This year’s event will be bigger than ever with 35 participating vendors, and an anticipated 800 attendees. In addition to great food, groups Diali Cissokho & Kaira Ba and The Free States, along with Justin Johnson will entertain attendees. There will also be face painting, big bubbles and The Vegetable Circus for the little ones.

Tickets are $35 at the door or free for children under the age of 12.

Virtual Tour: "Bristol" Parade Home

Homes By Dickerson's "Bristol" is one of the 2012 Parade of Homes entries in Briar Chapel this year, which just started this weekend. Situated near the cul-de-sac on Dark Forest and backing up to a wooded buffer, this home has a number of eye-catching trim details, including beautiful herringbone pattern hardwood floors, a window seat with built-in bookshelves, a cedar-encased screened porch, and carved newel posts to name a few. With easy access to the 24-mile trail system from the backyard, and a short walk to the amenity-rich clubhouse and salt-water pools, this home is worth a look.

If you're not able to tour the Parade of Homes, call Jen Winkler at 919-593-3662 to schedule a showing of this beautiful home.

View the Tour



Mortgage Rate & Inventory Levels Update

One of the questions I'm most often asked by homebuyers these days has to do with where mortgage rates are heading. Since I don't have a crystal ball, nor am I a mortgage broker, I usually refer them to one of my preferred lenders.

What I can tell is that this is an EXCELLENT time to purchase or refinance a home, since money is on sale! According to Freddie Mac, the average 30-year fixed rate mortgage rate slipped to a new all-time low of 3.49% last week for borrowers willing to pay 0.6 discount points at the time of closing (one discount point is equal to one percent of your loan size). Likewise, the average 15-year fixed rate mortgage rate dropped to a new all-time low last week of 2.77% with the same accompanying 0.6 discount points.

If you have a home to sell, you'll want to pay attention to another important figure... months supply of inventory. According to the National Association of REALTORS®, the national existing home supply slipped to 6.1 months last month — very close to the 6.0-month marker which separates a “buyer’s market” from a “seller’s market”. Here in the Triangle, we saw inventory levels drop by over 35% in August compared to the same period last year.

In other words, if you were thinking of putting your home on the market next Spring, you may want to reconsider and get it listed now. I'll be happy to recommend a good agent, if you don't already have one.

2012 Parade of Homes Features Six Briar Chapel Green Homes

Now in its 29th year, the 2012 Parade of Homes in Durham, Orange & Chatham Counties will be held over the next three weekends: September 29-30, October 5-7 and October 12-14, 2012 from Noon-5pm each day. This is a free, self-guided tour showcases the latest designs and technology trends.

This year, Briar Chapel has six entries in the Parade:

• The "Yates" - 9 Pokeberry Bend Dr. (Saussy Burbank)
• The "Carsen" - 39 Pokeberry Bend Dr. (Saussy Burbank)
• The "Teague" - 68 Owen Towne Rd. (Saussy Burbank)
• The "Milliron" - 139 N. Serenity Hill Cir. (David Weekley Homes)
• The "Millhaven" - 371 Tobacco Farm Rd. (Homes by Dickerson)
• The "Bristol" - 371 Dark Forest Dr. (Homes by Dickerson)

This year's event also enables builders to enjoy some friendly competition, as each home on the Parade is judged by a panel of industry representatives from other markets in our region. These judges examine the design, quality, and creativity that each entry demonstrates, resulting in a numerical grade for each house. Awards are given to homes that achieve the highest scores in each price category.

If you would like a guided tour of these homes, please contact Jen Winkler at 919-593-3662. She will be more than happy to point out the various green features that are available in these homes, as well as show you the amenities that residents enjoy throughout Briar Chapel.

Annual Briar Chapel "Pups in the Pool" Event a Huge Success

Once the pool season comes to a close each year, it's a tradition for Briar Chapel residents to bring their dogs for a swim at the annual "Pups in the Pool" event. This year's event had perfect weather and was well attended.

 

 

Chapel Hill Among Money Magazine's Best Places to Live

Money magazine recently selected Chapel Hill as the 10th best small city to live in the United States.

In addition to referring to its "town within a park" beauty, the magazine noted the community's strong job opportunities, great schools, low crime, quality health care, and variety of things to do.

Residents of Briar Chapel have a Chapel Hill mailing address, but enjoy a lower tax rate in Chatham County.

Playing Golf Near Briar Chapel

Since many prospective buyers ask me about opportunities to play golf near Briar Chapel, I thought I would share some information about the courses nearby. We have a number of places to play within a short drive... here are just a few of them, listed in order of distance:

• Twin Lakes: 9-hole course that is adjacent to Briar Chapel, but not for the serious golfer!
• Governors Club: private club, 36 holes, about 5 minutes from Briar Chapel. They offer memberships to Briar Chapel residents.
• Chapel Ridge: one of my favorite courses in the area, about 15 minutes from Briar Chapel.
• The Preserve: a little more challenging due to environmentally-sensitive areas, about 20 minutes from Briar Chapel. They offer a membership ($1000 initiation + $160-207/month) that gives you access to both Chapel Ridge and The Preserve.
• Finley: UNC’s course… a bit expensive, but a great alternative that is only 20 minutes from Briar Chapel.
• Chapel Hill Country Club: private course across from Finley, about 20 minutes from Briar Chapel.
• Old Chatham: very exclusive, so I haven’t had an opportunity to play this one yet, about 30 minutes from Briar Chapel.
• Falls Village: I haven’t played this course yet, but it is part of the Traditional Clubs (similar to Chapel Ridge & Preserve), about 30 minutes from Briar Chapel.
• Sanford Municipal: good course and very inexpensive during the week, about 35 minutes from Briar Chapel.
• Tobacco Road: fun course (not for everyone, though), about 45 minutes from Briar Chapel.
• Pinehurst: golf capital of the world, about 60 minutes from Briar Chapel.

We have a number of folks in the neighborhood that like to play, and even have some groups that get together and play on a regular (if not weekly) basis.

Swing straight!

Virtual Tour: "Oberlin" Ranch Model

Homes By Dickerson's "Oberlin" is the only true ranch plan currently being built in Briar Chapel. This particular home features an open kitchen, breakfast area and family room with gas log fireplace and access to a covered porch and beautiful courtyard garden with water fountain feature. A large owner suite (16x16!) has an extra large shower and walk-in closet. Two additional bedrooms are located off the foyer and share a second bath.

View the Tour

Briar Chapel Builder Launches New HomeBuilder iPad App

Homes By Dickerson, a member of the Briar Chapel builder team, has just released the first edition of its new HomeBuilder iPad App. This app enables users to find and design their home, search floorplans, and get ballpark pricing on some plans. You can download it for free from the Apple App Store by searching for "Homes By Dickerson" or simply click on the link above.

Homebuyers and REALTORs will especially enjoy the features of this app:

• Search for communities where Homes By Dickerson is building, including Briar Chapel
• Search a catalog of available floorplans that can be built in each community, or as part of their "Build on Your Lot" program
• See multiple elevation options for each plan and change exterior color schemes
• Select structural options to customize the home
• See available home sites within each community
• Create a brochure with custom selections under the "Your Home" option, which can be saved and shared with others
• Using the built in mortgage calculator, show changes in monthly payments based on interest rate, down payment and price of the home

Please keep in mind this is the very first introduction of the app, so Homes By Dickerson is eager to get your feedback as they continue to make enhancements and additions to it. To ensure you have the latest updates, use the refresh button in the lower righthand corner of the screen.
 

Just Listed: 208 Windy Knoll Circle

Homes By Dickerson's former model has been listed for resale in Briar Chapel. Located at the heart of the development near the clubhouse and saltwater pools, this "Bristol" plan was a Gold Winner in the 2010 Parade of Homes and includes a number of upgraded features.

You really have to see this home in person to appreciate the quality of its construction. To schedule a showing, please contact Jen Winkler at 919-593-3662.

 

This post was made with permission of the listing agent.

Virtual Tour: "Franklin" Model

It's been awhile since I posted photos of some of the homes being built in Briar Chapel, so I thought I would start sharing some on a more regular basis. Here is a tour of the Tudor elevation of the "Franklin" plan that was built on Lot 16 along Dark Forest Drive by Homes By Dickerson.

To schedule a showing, please contact Jen Winkler at 919-593-3662.

View the Tour

Education Programs Near Briar Chapel

Home to some of the country’s finest universities, the Triangle has a long-standing tradition of academic excellence. Chatham County upholds this tradition with a number of innovative schools and educational programs for Briar Chapel residents:

· Preschool: There are a number of options for preschool education near Briar Chapel, including Central Carolina Community College Preschool, Perry W Harrison Elementary Preschool, and a variety of other private options in Chapel Hill.

· K-12: In addition to Woods Charter School (on-site), residents attend Perry W. Harrison Elementary School, Margaret B. Pollard Middle School (on-site) and Northwood High School. View comparisons of these schools. Please let me know if you would like to tour any of these schools or meet with school officials.

· Higher Education: Residents of Briar Chapel enjoy proximity to several top-rated educational institutions, including The University of North Carolina, Duke University and NC State University.

· Lifelong Learning: Since learning doesn’t stop when you earn a diploma, residents in Briar Chapel often take advantage of enrichment programs in the area. These include UNC’s Carolina College for Lifelong Learning, Duke’s Osher Lifelong Learning Institute, and NC State’s Encore Program, as well as numerous continuing education programs across the Triangle. Popular ones include CCCC, DTCC,  Abundance Foundation, and UNC Friday Center.  

If you would like to learn more about any of the educational opportunities listed above, please do not hesitate to let me know. If I do not know the answer, I’ll be sure to connect you with someone who can.

Video Tour: "Bynum" Model

Saussy Burbank's "Bynum D" is one of their more popular plans in Briar Chapel. This particular home has 4 bedrooms, 3.5 baths, and is approximately 2370 sqft.

To schedule a showing, please contact Jen Winkler at 919-593-3662.