Durham real estate
Of the three major cities in the Triangle in North Carolina Durham is one of the best. The city can date back its origin to the tobacco and textile but now the city can boast of some of the best medical schools and high-tech businesses that are the best in the Triangle area and also in the whole of U.S. The City of Durham offers a wide variety of neighborhoods that can range from farmhouses to some of the lavish mansions. There are as many as 198,000 residents in the city. Durham has been seeing a lot of new construction and revolution in terms of real estate.
Some of the most sought after neighborhoods of Durham include: Hope Valley, Watts-Hillandale, Duke Park and Trinity Heights. These places have been undergoing an overhaul that has not only improved their look but has also increased the demand of houses in these areas. Another desirable neighborhood is Forest Hills that is located south of downtown; here you can find some of the massive estates with colonial mansions. Some of the new communities that have won the hearts of many of the residents include Hope Valley Farms and Woodcroft. There are a lot of housing options in Durham that are difficult to condense here. However to get a better knowledge of how the real estate market has been shortly let us see the market tends.
The Durham real estate market trends
The real estate market of Durham is full of potions and varieties. You can make your choice from the new homes, condos, apartments, historical homes and town homes. The city of Durham is spread over a large area and you can either opt to invest in the heart of the city or can opt to invest in the quieter suburbs. Durham promises to be a lot less expensive than the other cities in the Triangle. However, slowly the prices are catching up and you can see this change in the southwest localities. Throughout 2007 the average listed price in Durham was $242,700 and sales price of 200,700. When you compare these figures with the neighboring areas then you would realize that Durham is a bit cheaper than the other areas.
With the increase in the job options in Durham there are a number of people who are contemplating shifting to this area and hence there is a lot of growth that is being seen in the city. The areas of Woodcroft, Hope Valley Farms and Grove Park were among the top selling areas of Durham in the year 2007. At present the Durham real estate market has an inventory to suffice 5 months supply of new homes and 5 months of resale homes in the range of $150k-$199k. Different areas of Durham show different market trends and hence it is difficult to say how long will it take for a house to get sold in the city.
The year 2008 proves to be a lot challenging for the Durham real estate market. It is still to be seen whether the market would survive the following instabilities: Instability of the housing market in general; consumer worries about the economy; changes in lending practices and families relocating to the area are having trouble selling their homes prior to relocating. Taking the help of a real estate agent can be a lot beneficial to you when it comes to making investment in the Durham real estate market.
Taking the help of a real estate agent When looking for a Durham real estate property it is strongly advised that you take the help of a real estate agent. However before dealing with the real estate agent you should make sure that the real estate agent is certified and licensed by the state of Pennsylvania. You should look for an agent that meets the industry standards. You can successfully get a house in Durham if you work with a licensed real estate agent. Before you start dealing with the Durham real estate agent you should look into the fact whether you are comfortable in talking to the agent and whether the agent is listening to your preferences.
When you choose a real estate agent in Durham then you should consider the factors like:
- Licensing
- Experience
- Market knowledge
- Community credibility
Durham real estate agents Some of the real estate agents functioning in Durham are mentioned below.
Joyce Bliss: They deal with both selling and buying of real estate. You can contact them at 5285 N. Roxboro Road, Durham, NC, 27712; Office Phone:(919) 281-3238, Cell Phone:(919) 308-1215, Fax Number:(919) 471-8008.
Cecile Ann Clayton: They specialize in new construction and resale of residential property, commercial, and land sales providing the up most in customer care. You can contact them at 501 Washington Street, Durham, NC, 27701, Office Phone:(919) 477-1752.
Matthew Etherington: He specializes in both buying and selling of real estate. You can contact him at 8 Consultant Place, Durham, NC, 27707; Office Phone:(919) 401-7646, Cell Phone:(919) 428-0267, Fax Number:(919) 313-8621.
John Tatreau: He employs the latest technologies in assisting buyers in locating their perfect homes at the best price and sellers in optimally marketing their properties. You can contact him at 5285 N. Roxboro Rd., Durham, NC, 27712; Office Phone:(919) 471-8000, Cell Phone:(919) 672-9559, Alt. Phone:(919) 471-1968, Fax Number:(919) 471-1968.
Lisa Hilliard: She is a full service real estate broker giving the best customer care and the best listings. You can contact her at 8202 Renaissance Village Suite 103, Durham, NC, 27713; Office Phone:(919) 969-7177 Ext.: 101, Cell Phone:(919) 538-6099, Fax Number:(919) 869-1518.
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