Living in Raleigh is among the best places to buy a home according to a recent article released by Forbes magazine. Many housing markets across the country are suffering from decreased home values and increased foreclosure rates but that is not the case everywhere.
Stan Humphries, chief economist at Zillow.com had this to say in regards to those cities that made the list. “These markets are very affordable, where people are typically spending under 2.5 times their income on a house so it’s pretty affordable, and they are now spending what they were paying in the 15 years between 1985 and 2000.” Of the ten best places to buy a home none of those cities are situated on the west coast.
Raleigh came in number 7 out of the top 10 cities to buy a home in. Raleigh was also the most expensive market out of the 10 that were listed as the best places to buy a home. The midpoint price of a home in Raleigh was $171,800 and the foreclosure rate was .88 percent. The housing market criteria that Forbes looked at to determine their rankings looked at the overall picture of the city including rate of vacancies and foreclosures.
There are several unique communities close to the Raleigh area and Glen Laurel is one community you must consider when it comes to buying a home. Glen Laurel provides its residents with access to an award winning golf course along with a Racquet and Swim Club.
With an easy 25 minute drive to Downtown Raleigh, this community is the perfect place to call home.
If you are looking to buy or sell a home in the Raleigh area, contact Rodney Geohagan. The Geo Team is here to help you with all of your real estate needs. Rodney Geohagan is a certified distressed property expert who has the experience to help you sell your home and is qualified to help you with all options before it is too late. There are a lot of questions about how the short sale process works and whether a homeowner would be better off selling short or signing over their deed in lieu of foreclosure. Rodney has the answer and would love to sit down for a confidential review of your options.