Chinese Visa application in Cary, Raleigh, Apex, Morrisville, Durham, Chapel Hill, Franklinkton, Henderson and surrounding area
Chinese Embassy has granted the Chinese-American Friendship Association in North Carolina (CAFA-NC) the AUTHORITY to process Chinese Visa Application regularly. CAFA will accept the applications for local applicants based on their request and time.CAFA is planning to process the visa application in June, 2009. Please send your request about your application #, departure time to president@cafanc.org , CAFA will make a formal announcement to collect your passport and application documents on a give date and place.CAFA briefly summarizes some rules/regulations issued from the Embassy about the visa application for your reference.1.
Regarding Item 1.4 and 1.6 of the application form, "Hong Kong", "Macau", "Taiwan" or "Republic of China" (ROC) is not recognized as a "Country" or a "Former Nationality". It ought to be "China", "People's Republic of China" (PRC) or "Taiwan/Hong Kong/Macau, China".
2. American citizens can stay in Hong Kong for up to 90 days without a visa if not for employment, training, residence, investment or overseas study purposes.
3. Third country nationals need to provide a photocopy of their legal resident or visa status in the United States, such as a green card, work permit or valid visa.
4. When priests, pastors, ministers, chaplains and other members of the clergy and writers, journalists, reporters, publishers, photographers, broadcasters, producers and other professionals of the media apply for a tourist visa, the applicants will need to write a personal letter stating that their purpose of trip to China will be solely for tourism and they will not engage in any activities related to their occupation.
5. Chinese Americans born in Mainland China, Hong Kong, Macau and Taiwan should put down their Chinese names in Chinese characters when filling in the application form. Those whose passports do not display at least one previous Chinese visa will need to present a copy of either their previous Chinese visa, former Chinese (including Hong Kong, Macau, or Taiwanese) passport, or other official documents bearing their Chinese name.
6. Hong Kong, Macau or Taiwanese passport holders who have not acquired US citizenship should apply for a "Travel Document of the People's Republic of China" to enter mainland China. Otherwise, apply for a Chinese visa with their US passports.
7. First-time visa applications for children who were born in the United States and to a Chinese mother and/or father will require a copy of the applicant's birth certificate and a copy of either one of the parents' green card or US passport. Or else, apply for a Chinese Travel Document instead.
8. For Business (F) visa applications, an invitation letter from China and/or an introduction letter from the applicant's employer, or if any, other relevant supporting documents are required.
9. Applicants who have acquired at least two F visas or have been issued a multiple entry F visa within the recent past are eligible for a 2-year Business (FU) visa. Besides the cover letters, they will need to present copies of their previous F visas.
10. For Employment/Work (Z) visa, apart from a visa notification issued by an authorized Chinese unit (usually the foreign affairs office of the local government), please submit either one of the following documents:
1) Original Work Permit for Aliens issued by the Chinese Ministry of Labor and Social Security and its copy.
2) Original Foreign Expert's Working Permit issued by the State Administration of Foreign Experts Affairs.
11. For applicants who will be enrolled and study in China, in addition to the visa application form, copies of their school admission letter and JW202 (or JW201) Form (Visa Application for Study in China) should be submitted (Please note that the JW202 (or JW201) Form is not a substitute for the Chinese Visa Application Form). Those who will study in China for over 180 days will be issued a Study (X) visa, whereas an "F" visa will suffice those studying for 180 days or less.
12. Those applicants who wish to travel to Tibet and need to apply for a visa including entry into Tibet from the Visa Office should obtain a "Travel Permit" from the Tibet Tourism Bureau prior to their visa application. And those who plan to visit Urumqi, Turpan, Kashgar or other parts of Xinjiang Autonomous Region will need to present a detailed itinerary.
13. Once visa applications have been processed, no change of visa type, number of entry, duration of stay and pick-up date can be made due to its great inconvenience. Any misissuance of visas as a result of discrepancies between the code on the submission form and the request made by the applicant in the application form is the submitter's responsibility. Corrections of this kind will not be made at our cost.
14. It takes longer to process certain cases that require special clearances. Therefore, be advised that Chinese Embassy cannot guarantee that every application can be finished within 4 working days. Please let the applicant understand.
15. The Embassy reserves the right to suspend or withdraw a visa agency's authorization in case of any misuse of its self-drop-off rights, serious violations of our rules and regulations, too many erroneous submissions, or no / few submissions for an extended period of time.
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest compliment my clients can give me is the referral of their friends, family, and business associates! Thank you for your trust!!
Regarding Item 1.4 and 1.6 of the application form, "Hong Kong", "Macau", "Taiwan" or "Republic of China" (ROC) is not recognized as a "Country" or a "Former Nationality". It ought to be "China", "People's Republic of China" (PRC) or "Taiwan/Hong Kong/Macau, China".
2. American citizens can stay in Hong Kong for up to 90 days without a visa if not for employment, training, residence, investment or overseas study purposes.
3. Third country nationals need to provide a photocopy of their legal resident or visa status in the United States, such as a green card, work permit or valid visa.
4. When priests, pastors, ministers, chaplains and other members of the clergy and writers, journalists, reporters, publishers, photographers, broadcasters, producers and other professionals of the media apply for a tourist visa, the applicants will need to write a personal letter stating that their purpose of trip to China will be solely for tourism and they will not engage in any activities related to their occupation.
5. Chinese Americans born in Mainland China, Hong Kong, Macau and Taiwan should put down their Chinese names in Chinese characters when filling in the application form. Those whose passports do not display at least one previous Chinese visa will need to present a copy of either their previous Chinese visa, former Chinese (including Hong Kong, Macau, or Taiwanese) passport, or other official documents bearing their Chinese name.
6. Hong Kong, Macau or Taiwanese passport holders who have not acquired US citizenship should apply for a "Travel Document of the People's Republic of China" to enter mainland China. Otherwise, apply for a Chinese visa with their US passports.
7. First-time visa applications for children who were born in the United States and to a Chinese mother and/or father will require a copy of the applicant's birth certificate and a copy of either one of the parents' green card or US passport. Or else, apply for a Chinese Travel Document instead.
8. For Business (F) visa applications, an invitation letter from China and/or an introduction letter from the applicant's employer, or if any, other relevant supporting documents are required.
9. Applicants who have acquired at least two F visas or have been issued a multiple entry F visa within the recent past are eligible for a 2-year Business (FU) visa. Besides the cover letters, they will need to present copies of their previous F visas.
10. For Employment/Work (Z) visa, apart from a visa notification issued by an authorized Chinese unit (usually the foreign affairs office of the local government), please submit either one of the following documents:
1) Original Work Permit for Aliens issued by the Chinese Ministry of Labor and Social Security and its copy.
2) Original Foreign Expert's Working Permit issued by the State Administration of Foreign Experts Affairs.
11. For applicants who will be enrolled and study in China, in addition to the visa application form, copies of their school admission letter and JW202 (or JW201) Form (Visa Application for Study in China) should be submitted (Please note that the JW202 (or JW201) Form is not a substitute for the Chinese Visa Application Form). Those who will study in China for over 180 days will be issued a Study (X) visa, whereas an "F" visa will suffice those studying for 180 days or less.
12. Those applicants who wish to travel to Tibet and need to apply for a visa including entry into Tibet from the Visa Office should obtain a "Travel Permit" from the Tibet Tourism Bureau prior to their visa application. And those who plan to visit Urumqi, Turpan, Kashgar or other parts of Xinjiang Autonomous Region will need to present a detailed itinerary.
13. Once visa applications have been processed, no change of visa type, number of entry, duration of stay and pick-up date can be made due to its great inconvenience. Any misissuance of visas as a result of discrepancies between the code on the submission form and the request made by the applicant in the application form is the submitter's responsibility. Corrections of this kind will not be made at our cost.
14. It takes longer to process certain cases that require special clearances. Therefore, be advised that Chinese Embassy cannot guarantee that every application can be finished within 4 working days. Please let the applicant understand.
15. The Embassy reserves the right to suspend or withdraw a visa agency's authorization in case of any misuse of its self-drop-off rights, serious violations of our rules and regulations, too many erroneous submissions, or no / few submissions for an extended period of time.
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest compliment my clients can give me is the referral of their friends, family, and business associates! Thank you for your trust!!
The Soul Picnic at Booth Amphitheatre
THE SOUL PICNIC
Celebration of Culture, Music, Food & EntertainmentArtists include Mint Condition, Doug E. Fresh, Carl Thomas and more...
Saturday August 8 Noon – 11 p.m.
Tickets On Sale
Friday, May 22 at Noon~ $35/General Admission, $52.50/Gold Circle, $60/Table ~
Tickets can be purchased at Booth Amphitheatre
(Tuesday- Friday, Noon - 6 p.m. & Saturday from 10 a.m. – 1 p.m.) or any Ticketmaster Outlet, or charge-by-phone at 1-800-745-3000.
For complete concert information go to www.soulpicnic.com, www.boothamphitheatre.com or call 919-462-2025.
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
Celebration of Culture, Music, Food & EntertainmentArtists include Mint Condition, Doug E. Fresh, Carl Thomas and more...
Saturday August 8 Noon – 11 p.m.
Tickets On Sale
Friday, May 22 at Noon~ $35/General Admission, $52.50/Gold Circle, $60/Table ~
Tickets can be purchased at Booth Amphitheatre
(Tuesday- Friday, Noon - 6 p.m. & Saturday from 10 a.m. – 1 p.m.) or any Ticketmaster Outlet, or charge-by-phone at 1-800-745-3000.
For complete concert information go to www.soulpicnic.com, www.boothamphitheatre.com or call 919-462-2025.
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
North Carolina Science and Technology and Opportunities by Chinese Association of Science and Technology North Carolina Chapter (CAST-NC)
Chinese Association of Science and Technology, North Carolina Chapter(CAST-NC, http://www.castnc.org/) is pleased to announce an exciting and informative seminar "North Carolina Science and Technology and Opportunities" by Dr. John Hardin, Director of North Carolina Board ofScience and Technology.
Time: 5/30/2009 (Sat), 2:00 PM - 4:00 PM; there will be Q&A session afterthe seminar
Place: MCNC auditorium, 3021 Cornwallis Road, Research Triangle Park, NC27709
Dr. John Hardin will talk about the cutting edge science and technologydiscovered/developed in North Carolina. Dr. Hardin will also talk aboutNC job markets, and opportunities available for professionals to developeither in the path of being a scientist or an entrepreneur, including fromthe perspective of collaboration between China and North Carolina.
It is free for CAST-NC members and on-site membership application isavailable to public to be admitted free; non-members pay $5 at admission(free for students).
Fees collected are for covering auditorium renting anddrink.You can also join CAST-NC online http://www.castnc.org/, and bring yourapplication and payment to the seminar.
Hannah Chan, GRI
Broker/Owner
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
Time: 5/30/2009 (Sat), 2:00 PM - 4:00 PM; there will be Q&A session afterthe seminar
Place: MCNC auditorium, 3021 Cornwallis Road, Research Triangle Park, NC27709
Dr. John Hardin will talk about the cutting edge science and technologydiscovered/developed in North Carolina. Dr. Hardin will also talk aboutNC job markets, and opportunities available for professionals to developeither in the path of being a scientist or an entrepreneur, including fromthe perspective of collaboration between China and North Carolina.
It is free for CAST-NC members and on-site membership application isavailable to public to be admitted free; non-members pay $5 at admission(free for students).
Fees collected are for covering auditorium renting anddrink.You can also join CAST-NC online http://www.castnc.org/, and bring yourapplication and payment to the seminar.
Hannah Chan, GRI
Broker/Owner
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
Ro Han Mem Taiwanese Cultural Troupe Performance THIS THURSDAY, May 14 @ NC State
Students from Taiwanese university came all the way to North Carolina to perform "Ro Han Mem Taiwanese Cultural Troupe" for us! This will be an AWESOME CULTURAL dance performance!
The performance will include Taiwanese traditional ballads and folk arts such as the magnificent Sung-Jiang Battle Array, Hakka folk songs, Indigenous music, as well as ethnic dance styles to reflect the diversity and legacy of Taiwanese culture. The Troupe's musicals highlight a variety of unique songs, dances, and battle array performances that are representative of distinctive Fukienese, Hakka, and Indigenous cultures, providing a vivid portrayal & storytelling of the mosaic as well as the resilience of Taiwanese ancestors in their early settlement in southern Taiwan, and the resulting solidarity among them.
Time: 7:00PM, Thursday, May 14Place: Stewart Theater , NC State University, RaleighTicket Price: $10, group rate $5.
Please contact http://us.mc01g.mail.yahoo.com/mc/compose?to=shu-chuan.chou@rtp-ppdi.com for more information or RSVP to buy the tickets!!
Hannah Chan, GRI
Broker/Owner
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
The performance will include Taiwanese traditional ballads and folk arts such as the magnificent Sung-Jiang Battle Array, Hakka folk songs, Indigenous music, as well as ethnic dance styles to reflect the diversity and legacy of Taiwanese culture. The Troupe's musicals highlight a variety of unique songs, dances, and battle array performances that are representative of distinctive Fukienese, Hakka, and Indigenous cultures, providing a vivid portrayal & storytelling of the mosaic as well as the resilience of Taiwanese ancestors in their early settlement in southern Taiwan, and the resulting solidarity among them.
Time: 7:00PM, Thursday, May 14Place: Stewart Theater , NC State University, RaleighTicket Price: $10, group rate $5.
Please contact http://us.mc01g.mail.yahoo.com/mc/compose?to=shu-chuan.chou@rtp-ppdi.com for more information or RSVP to buy the tickets!!
Hannah Chan, GRI
Broker/Owner
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
0.59 acres lot in Chapel Ridge, Pittsboro For Sale $119900
You can live in Chapel Ridge Golf Course community include clubhouse, swimming pool, gym, tennis, basketball, volleyball, curbs gutter and sidewalks. One of the widest lot which you can put any floorplan in this lot even governor circle. Resort-style amenities and no time limit to build! Visit today!!
Hannah Chan, GRI
Broker/Owner
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
Job Hunting Seminar at NC State University organized Chinese Culture and Language Meetup group at NCSU (edit/delete)
What: Job Hunting Seminar at NC State UniversityWhen: May 10, 2009 3:00 PMWhere: Click the link below to find out!Meetup Description: NC State University is hosting a seminar this Sunday (May 10th, Mother's Day - don't forget to call your mom!) Panelists will start with a self introduction and the general job situation in each field. Then follow by panel discussion and Q&A.
Academic/University:
Bailian Li, Vice Provost, NC State UniversityInformation Technology:
Michael Chen, former Vice President, Red HatBiotechnology/Laboratory:
Liang Shi, Division Manager, SyngentaNew Hire Experience:
Ling Xiang, Recent NC State graduate and now new SAS employee
Event Time: 3:00pm - 4:30pm, Sunday, May 10th, 2009.
Location: Poe Hall 216, NCSUStinson Dr, Raleigh, NCMaps: http://www.ncsu.edu/campus_map/north.htm,
Look for Building 24Parking: The new parking lot of Math and Statistics Building is right beside Poe Hall.
Learn more here:http://www.meetup.com/TriangleChinese/calendar/10342092/
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
What: Job Hunting Seminar at NC State UniversityWhen: May 10, 2009 3:00 PMWhere: Click the link below to find out!Meetup Description: NC State University is hosting a seminar this Sunday (May 10th, Mother's Day - don't forget to call your mom!) Panelists will start with a self introduction and the general job situation in each field. Then follow by panel discussion and Q&A.
Academic/University:
Bailian Li, Vice Provost, NC State UniversityInformation Technology:
Michael Chen, former Vice President, Red HatBiotechnology/Laboratory:
Liang Shi, Division Manager, SyngentaNew Hire Experience:
Ling Xiang, Recent NC State graduate and now new SAS employee
Event Time: 3:00pm - 4:30pm, Sunday, May 10th, 2009.
Location: Poe Hall 216, NCSUStinson Dr, Raleigh, NCMaps: http://www.ncsu.edu/campus_map/north.htm,
Look for Building 24Parking: The new parking lot of Math and Statistics Building is right beside Poe Hall.
Learn more here:http://www.meetup.com/TriangleChinese/calendar/10342092/
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
Chinese Summer Camp, Vacation Bible School and more in Cary, Raleigh, Apex, Morrisville, Chapel Hill and RTP
If you are looking for Chinese summer camp for your children in Chapel Hill and you can check out
1)The RedApple Learning Academy
Chinese Summer-Camp & After-School ProgramsRedApple Learning AcademyAddress: 1777 Fordham Blvd (US 15-501), Suite 103, Chapel Hill, NC 27514Phone: (919) 428-6772
If you are located in Morrisville, Cary and Apex area, you can check out the Chinese summer camp and track out program offered by Champion Learning Academy.
2)http://www.championla.com/
Chinese/Art After school; Track-out, Summer camp
106 pheasant wood ct. Morrisville, NC. 27560
919-388-1739
If you would like to have your kids to join the Vacation Bible School held in Raleigh Chinese Christian Church in Cary this summer. You can go to their website http://www.raleighccc.org/vbs/2009/index.htm
and find out more details. They start to receive application on May 10th, 2009. The class get fill very fast and you don't want to miss the deadline!!
3)Raleigh Chinese Christian Church
http://www.raleighccc.org/
9266 Chapel Hill Road
Cary, NC 27513
(919) 834-3815
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
1)The RedApple Learning Academy
Chinese Summer-Camp & After-School ProgramsRedApple Learning AcademyAddress: 1777 Fordham Blvd (US 15-501), Suite 103, Chapel Hill, NC 27514Phone: (919) 428-6772
If you are located in Morrisville, Cary and Apex area, you can check out the Chinese summer camp and track out program offered by Champion Learning Academy.
2)http://www.championla.com/
Chinese/Art After school; Track-out, Summer camp
106 pheasant wood ct. Morrisville, NC. 27560
919-388-1739
If you would like to have your kids to join the Vacation Bible School held in Raleigh Chinese Christian Church in Cary this summer. You can go to their website http://www.raleighccc.org/vbs/2009/index.htm
and find out more details. They start to receive application on May 10th, 2009. The class get fill very fast and you don't want to miss the deadline!!
3)Raleigh Chinese Christian Church
http://www.raleighccc.org/
9266 Chapel Hill Road
Cary, NC 27513
(919) 834-3815
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
Raleigh, Cary, Apex, Morrisville Housing Market Update April 2009
Welcome to my monthly eNewsletter!!
I wrote this issue while I was attending my final GRI (Graduate Realtor Institute) class in Kitty Hawk, NC. I finally earned my GRI designation in April, only about 19% of the Realtors have this designation.
The GRI designation requires intensive education in real estate investing, property management, 1031 exchanges, client value creation, listing strategies, negotiations and many other advanced topics. I hope I could leverage the knowledge and experiences I gained from GRI to better serve my clients and friends. I am also working toward my CRS (Certified Residential Specialist) designation to expand my professional network in this competitive real estate industry and give me up-to-date knowledge in the market trends. I will keep you posted about my CRS designation.
Today, many people especially first time buyers believe they can do all of the research on the internet themselves and make their decisions themselves without getting any professional advice. Many of them got entangled in the process along the way.
Over the years, I have seen people "got burned" in the real estate process and transactions because they don't have an Entrusted Real Estate Advisor. I strongly recommend that you get someone you can trust completely and can give you unbiased advice... you simply need an entrusted real estate advisor who not only can help you see the things you don't see yourself, and also not only give you valuable advice in the real estate process but also help you plan and execute your real estate transactions.
The professional real estate broker job is very demanding and requires tremendous experiences, excellence in execution and up-to-date knowledge about the local market trends and pricing. Sometimes I am really amazed by how some people who have a regular full time job in other industry and work as a weekend (part-time) real estate agent can really provide the best sevices and advice to their clients.
Look for the qualifications and client testimonials when you are selecting your "entrusted advisor" for your real estate transactions.
Here is the market update for Wake County in March and April per NAR data:
Total Active Listing: 10911
Total Pending Listing: 1033
Price Range Total Pending Total Active Listing Pending / Active
120K-139K 109 715 15%
140K-159K 99 716 14%
160K-179K 102 779 13%
180K-199K 83 672 12%
The statistics for the median home segments are as follows:
250K-299K 93 1194 8%
300K-399K 137 1758 8%
The statistics for the luxury home segments are as follows:
400K-499K 41 970 4%
500K-749K 37 1130 3%
750K-999K 12 397 3%
1 million or up 10 301 3%
The most active segments are entry and mid-market. The highest percentage of Total Pending/ Total Active are in the entry level market segments (less than $250K price ranges).
Two buyer groups are driving the sales of those segments: first time buyers and investors. Many of those sales are "foreclosure" properties.
The weakest sales are in the luxury home sgements as expeceted due to the current economic conditions. The builders such as Toll Brothers and John Wieland had huge sales incentives in April to help promote their new homes which put more competitive pressure to the resales in the luxury home segment. Aside from these statistics, each subdivision has its own dynamics and sales trends.
Make sure you understand those data for your particular real estate transaction. So, I am helping many sellers to list their houses for sales during the prime time period (mid May, June, July and early August)........ and just want to give you guys a heads up that if you want to sell and sell it fast..... ACT NOW!!!!
Most of the houses I helped my buyer purchase in the past couple of months were all priced very competitively and I helped my buyer submit the offer almost the same date they were listed. So, I want to let you know you want to sell it this market and move very fast......it works if you know the magicial number -- "the right pricing strategy"!!!
Anyway, April defintely was a good month for my buyers. Even though there was more competitions than expected, I helped my buyers get some very good deals, no matter they were brand new, resale or foreclosure properties.
Please feel free to email or call me if you have any real estate question.
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates! Thank you for your trust!!
I wrote this issue while I was attending my final GRI (Graduate Realtor Institute) class in Kitty Hawk, NC. I finally earned my GRI designation in April, only about 19% of the Realtors have this designation.
The GRI designation requires intensive education in real estate investing, property management, 1031 exchanges, client value creation, listing strategies, negotiations and many other advanced topics. I hope I could leverage the knowledge and experiences I gained from GRI to better serve my clients and friends. I am also working toward my CRS (Certified Residential Specialist) designation to expand my professional network in this competitive real estate industry and give me up-to-date knowledge in the market trends. I will keep you posted about my CRS designation.
Today, many people especially first time buyers believe they can do all of the research on the internet themselves and make their decisions themselves without getting any professional advice. Many of them got entangled in the process along the way.
Over the years, I have seen people "got burned" in the real estate process and transactions because they don't have an Entrusted Real Estate Advisor. I strongly recommend that you get someone you can trust completely and can give you unbiased advice... you simply need an entrusted real estate advisor who not only can help you see the things you don't see yourself, and also not only give you valuable advice in the real estate process but also help you plan and execute your real estate transactions.
The professional real estate broker job is very demanding and requires tremendous experiences, excellence in execution and up-to-date knowledge about the local market trends and pricing. Sometimes I am really amazed by how some people who have a regular full time job in other industry and work as a weekend (part-time) real estate agent can really provide the best sevices and advice to their clients.
Look for the qualifications and client testimonials when you are selecting your "entrusted advisor" for your real estate transactions.
Here is the market update for Wake County in March and April per NAR data:
Total Active Listing: 10911
Total Pending Listing: 1033
Price Range Total Pending Total Active Listing Pending / Active
120K-139K 109 715 15%
140K-159K 99 716 14%
160K-179K 102 779 13%
180K-199K 83 672 12%
The statistics for the median home segments are as follows:
250K-299K 93 1194 8%
300K-399K 137 1758 8%
The statistics for the luxury home segments are as follows:
400K-499K 41 970 4%
500K-749K 37 1130 3%
750K-999K 12 397 3%
1 million or up 10 301 3%
The most active segments are entry and mid-market. The highest percentage of Total Pending/ Total Active are in the entry level market segments (less than $250K price ranges).
Two buyer groups are driving the sales of those segments: first time buyers and investors. Many of those sales are "foreclosure" properties.
The weakest sales are in the luxury home sgements as expeceted due to the current economic conditions. The builders such as Toll Brothers and John Wieland had huge sales incentives in April to help promote their new homes which put more competitive pressure to the resales in the luxury home segment. Aside from these statistics, each subdivision has its own dynamics and sales trends.
Make sure you understand those data for your particular real estate transaction. So, I am helping many sellers to list their houses for sales during the prime time period (mid May, June, July and early August)........ and just want to give you guys a heads up that if you want to sell and sell it fast..... ACT NOW!!!!
Most of the houses I helped my buyer purchase in the past couple of months were all priced very competitively and I helped my buyer submit the offer almost the same date they were listed. So, I want to let you know you want to sell it this market and move very fast......it works if you know the magicial number -- "the right pricing strategy"!!!
Anyway, April defintely was a good month for my buyers. Even though there was more competitions than expected, I helped my buyers get some very good deals, no matter they were brand new, resale or foreclosure properties.
Please feel free to email or call me if you have any real estate question.
Hannah Chan, GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates! Thank you for your trust!!
Raleigh, Cary, Apex, Morrisville Housing Market Update March 2009
Is the local market "bottoming out"?
There are some tell tales signs... Are you ready for a warmer April?? In real estate, the local market is getting warmer and warmer for sure. Many builders, sellers, realtors found the local housing market started getting warmer in Februrary and actually heating up in March..... Let's hope this is not a just a blip.
Are you waiting and still waiting?
Maybe you still want to wait for a couple more months before you enter the market -- investing, buying or selling. However you might want to check with your local realtors for the latest market conditions. Many active and top performance Triangle realtors can tell you that there are a lot of activities in our market right now for homes in all price ranges . Regular home buyers and investors are getting some good deals. Sellers and builders are wlling to sell at some decent discount and even with some attractive incentives. There are some exceptions though. In some selective neighborhoods, the sellers are still asking for the full price and some buyers are still willing to pay. In any case, don't miss out this golden opportunity while you can still lock into the low interest rates and low home prices . There are also plenty of inventory to choose from.
Brand New Home Sales
Last week, I took a couple to visit a brand new subdivision inside the beltline and the on-site agent told us that there were only 2 houses left for while having that promotion. The next day we found out only 1 left and my buyers couple bought the last one. Of course, they got a very good bargain and are thrilled since they found out the builder buys down the interest rate to 3.75% which can save them $26000 in interests and offers other incentives like free HOA for a year, YMCA membership, paid all the closing cost for the buyer...e.t.c.Similiar situation with another client of mine for a higher price range house. . I took my buyer to look at another popular new subdivision in Cary with the new home prices starting from $300K and the on-site agnet told me they still had 3 houses left in the whole neighborhood. Next day, I found out there was only 1 left and the one my buyer likes was already gone!! Even for luxury home from $650K and up they are sold quicker than most of us think.We defintely noticed that more brand new homes were sold in March than in the previous few months. Sales in the brand new subdivisions is one of the indicators for our market conditions.
Foreclosure Home Sales
I was working long hours in March not only with many national and local home buyers but also many investors too. I helped one of my investors submit an offer for a foreclosure in Durham 2 weeks ago. The house was backed up by the golf course. We found out there were already 18 offers for that particular listing. We offered more than the asking price and still got out bid. Similar thing happened when I submitted another offer for a foreclosure listing in Clayton. We also needed to submit our highest and best offer to compete with others in order to get the house!!
Investors Alert!! Home Buyer Alert!!
As I said in my Februrary monthly eNewsletter, we will expect more competition in the Triangle housing market . The top rankings for the Raleigh-Cary area just published in March would only attract more buyers and investors to compete for the same good deals.
Here is a sample of those top rankings for this area:
1)FORBES: Best place for Business and Careers
2)CEO MAGAZINE: Raleigh Cary is the No. 2 for Business
3)US CENSUS: Raleigh Cary is the fastest growing city in US
For the First Time Buyers
Act now and take advantage of the low interest rate and tax credit for some good deals.
What should you do when submitting your offer?
Be realistic!! Don't just try to use a "low ball" tactic. It doesn't work any more. You might miss the deal just by a couple of thousands dollars if you don't really understand what a realistic offer price would be.Remember that the sellers and builders have already adjusted the asking prices to attract the buyers and investors to begin with. There are now more buyers and investors out there looking for the same good deals and are competing with you. I still have some home buyers expect they can slash $40K or $50K on the already low asking prices. Be honest with you -- I don't think the seller will even respond to such an "unrealistic" offer.
When in doubt about setting the "realistic prices" in selling or buying your house for your particular neighborhood, always consult with a real estate professional for free advice and assistance. You need to understand the market conditions for your particular neighborhook at the time of your transaction for a winning buying or sales strategy.Check out and bookmark my new web site for your real estate resources.
Don't forget to check out and subscribe my blog for latest local interests and market conditions update.
Hannah Chan,GRI
There are some tell tales signs... Are you ready for a warmer April?? In real estate, the local market is getting warmer and warmer for sure. Many builders, sellers, realtors found the local housing market started getting warmer in Februrary and actually heating up in March..... Let's hope this is not a just a blip.
Are you waiting and still waiting?
Maybe you still want to wait for a couple more months before you enter the market -- investing, buying or selling. However you might want to check with your local realtors for the latest market conditions. Many active and top performance Triangle realtors can tell you that there are a lot of activities in our market right now for homes in all price ranges . Regular home buyers and investors are getting some good deals. Sellers and builders are wlling to sell at some decent discount and even with some attractive incentives. There are some exceptions though. In some selective neighborhoods, the sellers are still asking for the full price and some buyers are still willing to pay. In any case, don't miss out this golden opportunity while you can still lock into the low interest rates and low home prices . There are also plenty of inventory to choose from.
Brand New Home Sales
Last week, I took a couple to visit a brand new subdivision inside the beltline and the on-site agent told us that there were only 2 houses left for while having that promotion. The next day we found out only 1 left and my buyers couple bought the last one. Of course, they got a very good bargain and are thrilled since they found out the builder buys down the interest rate to 3.75% which can save them $26000 in interests and offers other incentives like free HOA for a year, YMCA membership, paid all the closing cost for the buyer...e.t.c.Similiar situation with another client of mine for a higher price range house. . I took my buyer to look at another popular new subdivision in Cary with the new home prices starting from $300K and the on-site agnet told me they still had 3 houses left in the whole neighborhood. Next day, I found out there was only 1 left and the one my buyer likes was already gone!! Even for luxury home from $650K and up they are sold quicker than most of us think.We defintely noticed that more brand new homes were sold in March than in the previous few months. Sales in the brand new subdivisions is one of the indicators for our market conditions.
Foreclosure Home Sales
I was working long hours in March not only with many national and local home buyers but also many investors too. I helped one of my investors submit an offer for a foreclosure in Durham 2 weeks ago. The house was backed up by the golf course. We found out there were already 18 offers for that particular listing. We offered more than the asking price and still got out bid. Similar thing happened when I submitted another offer for a foreclosure listing in Clayton. We also needed to submit our highest and best offer to compete with others in order to get the house!!
Investors Alert!! Home Buyer Alert!!
As I said in my Februrary monthly eNewsletter, we will expect more competition in the Triangle housing market . The top rankings for the Raleigh-Cary area just published in March would only attract more buyers and investors to compete for the same good deals.
Here is a sample of those top rankings for this area:
1)FORBES: Best place for Business and Careers
2)CEO MAGAZINE: Raleigh Cary is the No. 2 for Business
3)US CENSUS: Raleigh Cary is the fastest growing city in US
For the First Time Buyers
Act now and take advantage of the low interest rate and tax credit for some good deals.
What should you do when submitting your offer?
Be realistic!! Don't just try to use a "low ball" tactic. It doesn't work any more. You might miss the deal just by a couple of thousands dollars if you don't really understand what a realistic offer price would be.Remember that the sellers and builders have already adjusted the asking prices to attract the buyers and investors to begin with. There are now more buyers and investors out there looking for the same good deals and are competing with you. I still have some home buyers expect they can slash $40K or $50K on the already low asking prices. Be honest with you -- I don't think the seller will even respond to such an "unrealistic" offer.
When in doubt about setting the "realistic prices" in selling or buying your house for your particular neighborhood, always consult with a real estate professional for free advice and assistance. You need to understand the market conditions for your particular neighborhook at the time of your transaction for a winning buying or sales strategy.Check out and bookmark my new web site for your real estate resources.
Don't forget to check out and subscribe my blog for latest local interests and market conditions update.
Hannah Chan,GRI
Broker/Owner
Cary-Raleigh Realty, Inc.
919-426-1854919-468-1570(Fax)
Website: http://www.caryraleighrealty.comBlog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
The Triangle Housing market is picking up...
Do you feel the weather is warming up??? Not only the weather but the housing market in the Triangle...
I was showing 3 groups of custmer morning, afternoon and late afternoon and I don't think this only happen to me but most of the realtors in our area. I asked the onsite agent in some new subdivisions and they told me the traffic in past week was 2 times equal to the whole month in Februrary.
I was showing 3 groups of custmer morning, afternoon and late afternoon and I don't think this only happen to me but most of the realtors in our area. I asked the onsite agent in some new subdivisions and they told me the traffic in past week was 2 times equal to the whole month in Februrary.
The reason is so simple... The buyers and investors already waited and waited and finally they knew the price cannot drop anymore and is really rock bottom and now they all jumped out and grabbed what they can grab...
If you want to know how to find good deals in our area and like to know more about how to invest in Raleigh, Cary, Apex, Morrisville, Holly Springs, Durham, Chapel Hill, Clayton.....e.t.c
Feel free to email me or call me for any of your real estate needs!!
Hannah Chan
CARY RALEIGH REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
Guess!! How many offers you can get for 1 listing??
I cannot remembered how many offers I got from my past listings...Maybe 1 or 2?? I never imagine you can get more than 4 or 5 offers at the same time. I just submitted an offer for my client and the listing agent told me she already got 18 Offers on her table!! I was laughing when I heard that and I meant....yes...I expect a lot to compete but not as much as 18!!!! I thought she was joking but actually she told me she don't wish to get so many offers at each of her listing...me too!!!
Anyway, we got out bid even thought we offered more than asking price and I really want to ask who said the housing market is bad and no one is buying???? At least...not in Triangle area!!!
Hannah Chan, GRI, Broker/Owner
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
Anyway, we got out bid even thought we offered more than asking price and I really want to ask who said the housing market is bad and no one is buying???? At least...not in Triangle area!!!
Hannah Chan, GRI, Broker/Owner
CARY-RALEIGH REATLY, Inc.
919-426-1854
919-468-1570(Fax)
Website: http://www.caryraleighrealty.com
Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
Profie: http://www.linkedin.com/in/hannahchan
The highest complement my clients can give me is the referral of their friends, family, and business associates!
Thank you for your trust!!
Chinese American Friendship Association Annual Picnic Party on April 26 Sunday 10-4p.m
2009 CAFA Picnic Party Events on Sunday, April 26, 10am - 4pm
(1) Kids Games (11am to 3pm),
• Horse Riding (2 horses and 1 pony)
• Titanic adventure slide
• Mickey moonwalk
• Money machine
• Duck pond
• Chicken wing fling
• Can smash
• Bowling
(2) Reunion activities (11am to 4pm)
This is for reunion of people from same college/university/province/town/city. When you arrive, please go to the registration table and write down your name, college you graduated from and which province/city you were from. Then your group can choose place of gathering in the park.
(3) CAFA Club activities
CAFA clubs will introduce themselves to CAFA members and friends.
(4) Meet the President (11am to 1pm)
President or CAFA board chair will answer CAFA members' questions and collect any suggestions.
(5) Art performance and singing PK (11am to 4pm)
We will have some of the best performers in triangle area to bring wonderful shows. We will also have live band performance.
(6) Lunch (11:30am to 1:30pm)
We will start serving lunch at 11:30am. Lunch boxes, home made food and pizzas will be served. Drinks are free. We encourage people to bring home made food, cakes and other desserts.
(7) Family games (1pm to 3pm)
As usual, we will have many family games for fun. This year, tug-of-war game (拔河) will still be one of the favorite games.
(8) Youth group activities (10am to 4pm)
To attract young adults and kids to CAFA picnic party, we will have some games and shows for them. Below are some ideas people have provided to us.
(9) Talent Competition for Kids at all ages
This could include singing, dancing, instruments and Hula Hoops etc. We could also make it a family Talent show
Wii Competition
Among all the games, "Guitar Hero" is the most fun. We could start a Guitar Hero competition at the picnic
Group Singing competition
Volleyball games
CAFA picnic party held once a year and is the largest party in the area and involved lots of volunteers and sponsors. It is free and you only pay for your lunch box and welcome to join this family event on April 26th, 2009
Hannah Chan
CARY RALEIGH REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
(1) Kids Games (11am to 3pm),
• Horse Riding (2 horses and 1 pony)
• Titanic adventure slide
• Mickey moonwalk
• Money machine
• Duck pond
• Chicken wing fling
• Can smash
• Bowling
(2) Reunion activities (11am to 4pm)
This is for reunion of people from same college/university/province/town/city. When you arrive, please go to the registration table and write down your name, college you graduated from and which province/city you were from. Then your group can choose place of gathering in the park.
(3) CAFA Club activities
CAFA clubs will introduce themselves to CAFA members and friends.
(4) Meet the President (11am to 1pm)
President or CAFA board chair will answer CAFA members' questions and collect any suggestions.
(5) Art performance and singing PK (11am to 4pm)
We will have some of the best performers in triangle area to bring wonderful shows. We will also have live band performance.
(6) Lunch (11:30am to 1:30pm)
We will start serving lunch at 11:30am. Lunch boxes, home made food and pizzas will be served. Drinks are free. We encourage people to bring home made food, cakes and other desserts.
(7) Family games (1pm to 3pm)
As usual, we will have many family games for fun. This year, tug-of-war game (拔河) will still be one of the favorite games.
(8) Youth group activities (10am to 4pm)
To attract young adults and kids to CAFA picnic party, we will have some games and shows for them. Below are some ideas people have provided to us.
(9) Talent Competition for Kids at all ages
This could include singing, dancing, instruments and Hula Hoops etc. We could also make it a family Talent show
Wii Competition
Among all the games, "Guitar Hero" is the most fun. We could start a Guitar Hero competition at the picnic
Group Singing competition
Volleyball games
CAFA picnic party held once a year and is the largest party in the area and involved lots of volunteers and sponsors. It is free and you only pay for your lunch box and welcome to join this family event on April 26th, 2009
Hannah Chan
CARY RALEIGH REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
NC Home Auction in Raleigh Convention Center
I attended the NC Home auction in Raleigh Convention Center and most properties I am interested were in the Raleigh and Durham areas. The REDU was orginally planned to auction 155+ properties but it ended up only have 60+ properties were auctioned. Also, most properties were located 1 to 2 hours away which I normally recommended to invest only in the area you familiar to reduce all the potential risks. If you are new to auction, it is totally different from foreclosure or short sale cause you don't have that much time to think through. Besides, you also require to pay 5% buyer premium on top of the auctioned price. There were two properties I am interested actually sold at 15-18% discount than its original asking price after adding the buyer premium. I think it is comparable to foreclosure but not necessarily better than other distressed properties. The seller can set an undisclosed reserved price and the auctioner will bid up the price cause it did not meet the seller's reserved price. To me, auction is only worthy when there are not many bidders but the auction in Raleigh Convention Center was kind of competitive cause the bidders are bidding in the Ballroom, Charlotte and online bidding.
One thing I observed is that I found out there are a lot more investors this time than the one I attended couple months ago and honestly I can tell more buyers and investors are ready to get some good deals and will expect a lot more competition in our market.
Please feel free if you interested in looking at some foreclosure, auction, short sale or distressed properties.
Hannah Chan
CARY RALEIGH REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Profile: http://www.linkedin.com/in/hannahchan
Raleigh Cary was the fastest growing area in the country
According to US Census Burea, Raleigh Cary area was the fastest growing area in United State from July 2007 to July 2008. That means Triangle area is the top pick in most people's mind when they are thinking to relocate their families. Most of people moved here because of job opportunites and affordable housing and good schools. I personally helped a lot families to move to Raleigh Cary area and most of them moved here because of jobs and schools.
Raleigh-Cary is fastest growing metro area in U.S.http://www.wral.com/news/state/story/4769536/
If you are considering to relocate to North Carolina and please feel free to email me or call me for any question.
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
Raleigh-Cary is fastest growing metro area in U.S.http://www.wral.com/news/state/story/4769536/
If you are considering to relocate to North Carolina and please feel free to email me or call me for any question.
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
NC is 2nd BEST for Business
According to Chef Executive Magazine study, North Carolina is "2nd" Best for Business...
They ranks all the states based on
1)Natural resources,
2)Regulation,
3)Tax policies,
4)Quality of living,
5)Education,
6)Infrastructure,
North Carolina ranked third in the country last year and the state’s best asset is its WORK FORCE according Chief Executive Magazine!! We are so lucky that we can tell that most businesses owners, CEOs know exactly where to start and invest their futures...
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com
My Profile: http://www.linkedin.com/in/hannahchan
They ranks all the states based on
1)Natural resources,
2)Regulation,
3)Tax policies,
4)Quality of living,
5)Education,
6)Infrastructure,
North Carolina ranked third in the country last year and the state’s best asset is its WORK FORCE according Chief Executive Magazine!! We are so lucky that we can tell that most businesses owners, CEOs know exactly where to start and invest their futures...
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com
My Profile: http://www.linkedin.com/in/hannahchan
Free Asian Health Fair on April 4th 2009
Free Asian Health Fair on April 4th 2009 organized by NAAAP and IBM ADNG at Cary Senior Center on April 24th from noon to 5:00p.m.
They offer free blood pressure, glucose, vision screening, nutritional consulting and offer a lot different programs...
Don't miss this great family activities for your family!!!
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
Raleigh-Cary-Chapel Hil Housing Market Update March 2009
Spring is around the corner...Time to think about where to invest your $ after filing your tax returns and hopefully with some tax refund checks coming..............
Local Market Update
Triangle home sales hit 10 year low in January , only 729 homes sold in Wake, Durham, Orange and Johnston counties and the average home price sold in the 4 counties was $205K, down 3.7%.In some areas in the Triangle market, home prices already dropped to 4 years ago or even lower.
However home prices are still holding up OK for some highly sought subdivisions. Our local housing market here is different from those in Florida, CA, Nevada and NY where there were lots of "flippers" artifically inflating the house prices in the last few years. For the Triangle area market, it had been stable growth like 4% to 8 % a year before the current financial crisis started to adversely affect our local market. Hence our local market has not been battered as bad as the other markets.
Competitions expected for those "Good bargains"
Most buyers got really good deals in 2008 but we expect more competitions in 2009. We already knew a lot of out-of state and international investors had come into our local market looking for the same good deals. They are competiting with our local buyers and investors. Federal Tax Credit for the qualified First Time Home Buyers. Currently, most of the buyers in our market are those first time home buyers and investors. Many of the first time buyers decide to enter the market now for the following reasons.
(1)Federal Tax Credit,
(2)Low interest rate,
(3)Rent Vs Own,
(4)Lots of inventories
(1) Ferderal Tax Credit
If you to close on your new home between Jan 1 2009 and Nov 30 2009, you may be eligible for up to $8000 Federal tax credits as long as you do not sell your home in 3 years. The tax credit will reduce your tax bill or increase your refund. You can apply this credit to either your 2008 or 2009 tax return. You are eligible if you and your wife earn $150K or less. Please consult with your tax accountant for advices and details.
(2)Low interest rate
Rates on the 30-year fixed-rate mortgage is at a record low not seen for a long time but of course, you will need good credit to qualify for the loan as the lenders have tightened up the qualification criteria.
(3)Rent Vs Own
The cost of owning a home versus renting is in at all times low, favoring home ownership, plus the low interest rate making monthly P&I even more affordable than before.
(4)Lots of inventory -- plenty of choices
There was a 9.6-month supply of unsold existing homes in January according to NAR. For new homes, the inventory hit a 13.3-month supply at the end of January. We also have some foreclosures and auction homes competiting for the same buyers.
Where to Invest??Stock? Real Estate? Cash?
Some people said cash is the safest place now.. Why? First of all, inflation is no where in sight and will probably be put in check by the Federal Reserve in the near term. Cash is definitely better than investing in the mutual funds and stocks market right now for those who have low risks tolerance level. Cash also gives you the power in negotiations in the current real estate market.
Investing in the real estate market is probably relatively safer than other investments right now. There are some good deals out there. As more people get disqualified for a mortage, there will be more people renting instead of buying their first "dream home". The rents are holding up OK in the Triangle residential market. (Commercial rental is in a total different situation. The renters have the upper hand. there.)
More importantly, real estate investing is less volatile than the stocks market. You can also minimize the risks in real estate investing by doing due diligence and smart investing strategy. At least you can feel like you are in more control of you own destiny than the stocks market which is out of the control by any individual investor.
The Fundamentals that made the Triangle so attractive in the past are still here.
--The local governments and Chambers of Commerce are still very pro business and continue to recruit new companies to come.
--This area is still sought after for companies planning to relocate. Good schools and good qualities of life had attracted lots of national or international transplants to raise their families here.
--These will probably be the same reasons for others to come in the future. Forbe Magazine just recently ranked Raleigh as the second best city for "where $500K can still live comfortably lifestyle."
--North Carolina is one of the most affordable states, and Raleigh and Cary have been ranked among the best cities to live for the past 10 years.
If you have any question relating to how to invest in local real estate market and please feel free to email or call me.
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com
My Profile: http://www.linkedin.com/in/hannahchan
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com
My Blog: http://raleighcaryapexmorrisvillerealestate.blogspot.com
My Profile: http://www.linkedin.com/in/hannahchan
Raleigh rank No.2 in Forbes Magazines where $500K can still live comfortable lifestyle
Forbes magazines has compiled a list of cities where $500,000 will still buy an exceedingly comfortable lifestyle. They chose based on the cost of a typical four-bedroom, two-bathroom, and 2,200-square-foot home. They also factored in the amount of patent and venture capital activity, average commute, and an average cost of living below $100,000.
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://caryraleighapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://caryraleighapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
(RENTED!)Great Single family For Rent $950/1495sqft Close to NCSU, Downtown, Bus,Park...e.t.c
-Safe and quiet neighborhood.-References required.
-The property located at 2009 Rabbit Run Road, Raleigh, NC 27603
-3 bedrooms 2 baths just under 1500sq ft.
-Great home located at Wheeler Park, just under 1500 sf, 3 BR/2.5 BA in a quiet cul-de-sac.
-Big Living area and wood flooring overthrough.
-Bright Kitchen with Tile flooring
-Close to everything, NCSU, Farmer market, Downtown Raleigh, Highway, Shops, Buslines and Parks
Hannah Chan
CHK REALTY
919-426-1854
919-468-1570(Fax)
My Website: http://www.caryraleighrealty.com/
My Blog: http://caryraleighapexmorrisvillerealestate.blogspot.com/
My Profile: http://www.linkedin.com/in/hannahchan
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