North Carolina

More homes sitting on market and selling under asking price, new housing data shows

Published

2 years ago

May 8, 2023

More homes sitting on market and selling under asking price, new housing data shows

RALEIGH, N.C. (WTVD) — “This time final 12 months it did not matter what the home regarded like, or the place it was positioned. They have been promoting considerably over the listing value.”

Dean Scolavino appears like he has extra energy shopping for now within the Triangle housing market than when he first relocated from New Jersey earlier than the pandemic.

He purchased his present residence in North Raleigh a 12 months in the past.

“Particularly a 12 months or two in the past, you had homes going for $50,000 over ask (or) $100,000 over ask,” mentioned Scolavino

He is on the brink of improve to a single-family residence and says the expertise is best general, even with a 6.5 % locked-in rate of interest.

“Fortunately now you could have much more stock, extra choices,” mentioned Scolavino. “I believe the technique is to purchase in now why issues are just a little bit low, settle for the high-interest fee and the large cost after which in a couple of years simply refinance and simply hope the market comes again round.”

April 2023 information from Rocket Properties exhibits Raleigh, Durham, Cary and Chapel Hill are nonetheless vendor’s markets, however houses are sitting longer and lots of are closing beneath the asking value.

Knowledge highlights

49 % of Cary houses have been offered under the listed value and 40 % in Raleigh.

The variety of days in the marketplace practically tripled within the Metropolis of Oaks and Cary.

The info additionally exhibits costs are hovering in Cary as a serious improvement undertaking is underway there proper now.

After 20 years of planning, a seven-acre city oasis within the coronary heart of downtown is getting nearer to completion.

It is coming as April numbers present the median residence value in Cary is $550,000. That is up virtually $51,000 or 10 % from final spring.

“If a house is in the correct space that is tremendous fascinating, it is priced proper, and it is able to go – move-in prepared – we’re nonetheless seeing a number of gives,” mentioned Realtor Hilary Kennedy. “However this time final 12 months it did not matter what the home regarded like, the place it was positioned. They have been promoting considerably over listing value with a number of gives.”

Extra Housing Market Tales

Triangle housing market ‘getting again to regular,’ forward of spring

Why having good credit score may price you extra on a house mortgage

Triangle housing market getting again to regular

Report ranks Raleigh prime 3 for first-time homebuyers

Persons are shifting to North Carolina, however opting to not dwell in downtown areas, information exhibits

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North Carolina

Multiple injuries reported in northeast Charlotte 8-car crash

Published

4 hours ago

December 25, 2024

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Multiple injuries reported in northeast Charlotte 8-car crash

CHARLOTTE, N.C. (WBTV) – An eight-car crash injured several people and shut down a major interstate on Christmas Eve, the Charlotte Fire Department confirmed.

The crash happened at Interstate 85 North at West W.T. Harris Boulevard. I-85 was shut down by 7:40 p.m. and isn’t expected to reopen before 10:40 p.m.

Of those injured, two were taken to area hospitals, according to Medic.

Crews at the scene said to expect significant delays in the area.

For the latest traffic maps, visit drivenc.gov.

WBTV is working to find out more information. Download the free WBTV News app for the latest updates sent straight to your device.

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North Carolina

How AM radio helped storm recovery efforts in North Carolina

Published

11 hours ago

December 24, 2024

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How AM radio helped storm recovery efforts in North Carolina – CBS News

Watch CBS News

After Hurricane Helene brought devastating flooding to North Carolina, internet and cell phone service were spotty at best. But many were able to coordinate relief efforts and get crucial information out over AM radio. Skyler Henry has the story.

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North Carolina

North Carolina Dems fight GOP power shift as lawsuit targets election boards

Published

22 hours ago

December 24, 2024

Press Room

North Carolina Dems fight GOP power shift as lawsuit targets election boards

Outgoing Gov. Roy Cooper (D-NC) and Gov.-elect Josh Stein (D-NC) filed an expanded lawsuit Monday to challenge a sweeping Republican-backed law that strips significant powers from the state’s incoming Democratic officeholders.

The move by the Democratic leaders escalates an ongoing legal battle over GOP efforts to reshape control of state agencies and boards ahead of next month’s transition.

The new legal action focuses on Senate Bill 382, which transfers the governor’s authority to appoint members of the State Board of Elections to the state auditor, a position set to be held by Republican Dave Boliek. Additionally, the law grants the auditor the power to appoint the leaders of all county election boards, further limiting gubernatorial influence.

Gov. Roy Cooper (D-NC) waves to supporters during an election night watch party for Democratic North Carolina gubernatorial candidate Josh Stein on Tuesday, Nov. 5, 2024, in Raleigh, North Carolina. (AP Photo/Grant Halverson)

“These blatantly partisan efforts to give control over election boards to a newly elected Republican will create distrust in our elections process and serve no legitimate purpose,” Cooper said in a statement.

The lawsuit was originally filed by Democrats over Senate Bill 749, a bill blocked earlier this year that would have overhauled the state election board structure. With SB 382 now law, Cooper and Stein are seeking to amend the lawsuit to reflect the changes, which they argue are unconstitutional and undermine democratic principles.

“In recent years, these legislative leaders have repeatedly tried and failed to seize control of the State Board of Elections for their own partisan gain,” Stein said. “This latest move insults the voters who rejected their power grab and must not stand.”

SB 382’s provisions extend beyond election oversight. It prohibits the incoming attorney general, Democrat Jeff Jackson, from taking legal positions contrary to those of the Republican-led legislature. It also reallocates $227 million to a Hurricane Helene relief fund but does not specify how the money will be used, raising concerns about delayed aid to affected communities.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

Republicans overrode Cooper’s veto of SB 382 earlier this month, using their supermajority in the state Senate. However, starting in 2025, they will lose their veto-proof majority in the House, creating a more challenging legislative landscape.

The case now heads to Wake County Superior Court as the political fight over North Carolina’s balance of power intensifies.

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