Triangle House Hunter Articles

Below you will find articles on housing market research, tips for home buyers and sellers, new technology, and local events!

 

Nov. 15, 2017

How Will Blockchain and Cryptocurrency affect Real Estate?

Although still in the early stages, blockchain and cryptocurrency have the potential in the coming years to change the way real estate is bought and sold.

The first potential change is if cryptocurrencies, such as bitcoin, become more prevalent and are eventually accepted as a form of currency to conduct transactions. Stories of real estate transactions in bitcoin have hit the press, but are rare. In one such instance a buyer made 1.3 million during the transaction process because bitcoin had appreciated roughly 25% during the time they were under contract! Though fun to read about, the volatility of cryptocurrencies will need to come down to become more popular in everyday transactions.

Besides buying property with bitcoin, new technologies such as smart contracts will be used in different ways to increase the security and reduce the hassle of real estate transactions. If you are not familiar with them, smart contracts are computer protocols that help to secure and enforce the performance of a contract.

For example, capabilities of smart contracts would allow for deposits to be automatically transferred at the time of contract signing. The broker would no longer have to pick up checks and deliver them, and the money would be verified instantaneously. This is because smart contracts live on the blockchain, which are secure by design. In the blockchain each block of data is built from a previous block, which creates a record of what has occurred.

Blockchain technology can also be used in a way similar to crowdfunding. People could join huge groups of online investor networks, and each person would have the power to vote on which real estate opportunity to buy or sell. Complete transparency of where the money and profits are going would all be possible.

Nov. 15, 2017

Buying and Selling Long Distance

Check out our two most recent guides we've put together. These will help you if you are coming from out of state to buy in the Triangle, or have to sell while away. The links are below and also in our Guides and FAQ section.

Out-of-State Buyer's Guide

Out-of-State Seller's Guide

Nov. 15, 2017

Triangle Real Estate Market Update October 2017

Also, here is the video from the Triangle MLS discussing the metrics:

 

Sept. 19, 2017

Lustron Homes

 

After World War II, there was a shortage of homes in the United States for returning soldiers. The Reconstruction Finance Corporation, a federal agency founded to help stimulate the economy by providing financial support to state and local governments and loans  to businesses after the Great Depression, provided a loan to the Lustron Corporation in 1946 to manufacture prefabricated enameled steel houses. Manufactured in Ohio, the homes came eight different models, made up of over 3,000 parts which were shipped from Ohio directly to the lot and assembled. From 1948-50, less than 3,000 of these homes were constructed across the United States—then, the Lustron Corporation was repossessed by the Reconstruction Finance Corporation and declared bankruptcy.

 

Lustron homes were advertised as affordable, modern, low maintenance, efficient homes:Lustron Homes Advertisement

Source: http://www.oldhouseweb.com/imagesvr_ce//stories/bitmaps/12270/lestronad2.jpg

Today, approximately 1,500 Lustron homes are still standing, and in North Carolina, a few are still standing. Right now, there is one for sale in Durham at 1811 Glendale Avenue:

1811 Glendale Ave 

Source: TMLS

Contact us if you're interested in viewing this home or any other home in the Triangle!

Sept. 9, 2017

Triangle Real Estate Market Update September 2017

Sept. 8, 2017

Triangle Real Estate Market Update August 2017

 

July 11, 2017

Interview with Patrick Walsh, Home Inspector

Patrick Walsh (License #3461) is a great home inspector and resource for homeowners in the Triangle, NC area. He serves Raleigh, Durham, Chapel Hill, as well as the surrounding towns such as Hillsborough, Mebane, and Apex. We were excited to interview him to see what home buyers and sellers should be on the lookout for while buying or selling a home.

Where did you go to school and/or grow up?

I grew up in Northeast Ohio, studied business at Kent State University, and relocated to Chatham County NC after college. I have a farm near Pittsboro, and have sold organic vegetables and chicken at the Carrboro farmers market for many years.

How did you get started in home inspections, and what do you love about the profession?

I have a done home remodeling and repairs throughout the Triangle for the past 25 years. I’ve helped many homeowners complete the list of repairs after their home was inspected, and a few years ago a real estate agent said, “You should become an inspector!" I love this job and sharing my knowledge of home systems with folks buying a home. I enjoy the excitement of searching for clues to tell the story of a home.

What makes you different versus the competition?

I have the experience and know how to talk with people. I realize that buying a home is an emotional experience and I try to help buyers put into perspective the condition of a home without being alarmist.

What are your favorite hobbies outside of inspecting?

Music! Music! Music! I have played and sang music my whole live. I’ve traveled the world to perform at many bluegrass festivals. I started the Kickin Grass Band in the 90’s and have released 5 CD’s.

What are some common difficulties you run into while performing a home inspection?

Sometimes sellers don’t realize what is involved with a home inspection. When closets, attics, basements, and crawl space areas are packed with personal items, it makes it difficult to inspect electrical panels, water heaters, HVAC systems, and more.

Recommendations to people who are about to get a home inspection?

If you’re having a home inspected, I recommend attending the inspection if possible. It gives the opportunity to talk about the home’s defects and prioritize the repairs. Of course the home inspection report will have many pictures, descriptions, and recommendations, and I’m always available to talk about the home even after you move in.

Where do you see yourself and your business going in the next few years?

I hope to continue inspecting homes for many years. I enjoy being a part of our triangle community, and I look forward to meeting new neighbors.

Pictured: Patrick Walsh scoping out a crawlspace for a client.

July 8, 2017

Triangle Real Estate Market Update June 2017

Triangle housing data June 2017

June 6, 2017

Triangle Real Estate Market Update May 2017

Nov. 18, 2016

Triangle Real Estate Market Update October 2016