Wake Forest 27587 Magazine

Spring 2018

The quarterly 27587 MAGAZINE is a must-read, in-you-hands publication that strives to give a deeper identity to rapidly growing Wake Forest, N.C. It highlights in-depth stories, targeting higher-income households.

Issue link: https://27587magazine.epubxp.com/i/958716

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Page 18 of 84

18 Spring 2018 | Wake Forest 27587 Magazine Lenice Redmon, above left, the prospective buyer, checks out a closet at the Wake Forest open house. Along to offer a second opinion is his sister-in-law, Laverne Sims. At left, Redmon considers the property's deck and back yard PHOTOGRAPHS BY KATHRYN RENDE What of their hunt? "We try to just stay 'easy,' no pressure," said Pak Yip, a civil engineer. But the agent on duty, Ann Rodriguez of Re/Max Advantage of Raleigh, has seen Yip before. "He was here last weekend," she said of a listing with dramatic front and back views of the golf course. "e view is selling itself, which is good." at would be the view, not necessarily the sport of golfing. Asked if the couple play golf, Cecilia Yip said simply: "No, we do not." By most accounts, these buyers find themselves in a seller's market. "e market is so fast-paced. ey (buyers) tend to lose out with multiple offers," agent Rodriguez said. She has heard their pleas first-hand. "'Can you find out what the others are bidding,'" she said of their queries. "No, it doesn't work that way.'" Home resales in the 16-county Triangle region tracked by the MLS, or multiple list- ing service, shows repeated year-over-year, double-digit percentage jumps — until 2017's total, when the number flat-lined. "A lack of inventory," Casey Angel, a spokesman for the Raleigh Regional Associa- tion of Realtors, said by way of explanation. As 2018 begin, resales in the Triangle region, however, increased 2 percent in January vs. a year-ago and 3.4 percent in Wake County. As for all those new-home developments, even those are having trouble keeping up with demand. "ey physically can't build these houses fast enough," Angel said. at has put upward pressure on prices, with median sales prices rising 10.9 percent from a year ago. At an open house at e Preserve at Smith Creek, on the outskirts of Wake Forest just over the border in Granville County, agent Carmen Flores of Coldwell Banker Howard Perry and Walston has witnessed the now long-running trend. "ere are so many people coming from out of state, California, up north," said Flores, who herself is a transplant from the Golden State. In fact, one of the searchers this day is Chris Kelley, who has lived in North Raleigh for about a year but hails from Gilbert, Ariz., outside Phoenix. "ey don't stick around long," he said of the inventory. For generations, hunting for a house — that much-touted essential of the American Dream — and the renovations that typically follow have been the subject of story lines in major motion pictures. In 2004's romantic drama "e Note- book," starring Ryan Gosling and Rachel McAdams, the plot centers on an abandoned house that the lead character remodels to win back a lost love. In 1986's

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