At Carl Johnson Real Estate, our clients are important to us and our business. Working by referral allows us to maintain our relationship and serve our clients even after transactions have closed. The information below explains the reason we work by referral and lists the ways we can help you even after the sale.
It is no accident that readers of Durham Magazine voted Carl of Carl Johnson Real Estate Best Realtor, Readers’ Favorite, in 2022 and 2023. It is because we put you – our buyer and seller clients – first. Whether you are looking to buy or sell a home, we want to be here for you. CLICK HERE or call 919-880-0904 and we can start the conversation on how we will help you reach your real estate goals.
Original Content by Carl Johnson
Whether it was a dream since your childhood family vacations took you to the coast, or if you are looking for a smart investment that you can get more out of, purchasing a second home at the beach is a beneficial way to use your money and to make your money work for you. Memories of time spent at the Crystal Coast are priceless, the positive effects both physically and mentally by being outdoors in the sunshine and by the water are limitless, and the possibility of your home’s value increasing over time are great. This is why at Carl Johnson Real Estate we take the time to work with our clients to make sure when the time is right for them to invest in a second home along the Crystal Coast, we are there every step of the way! Below are some tips and tricks we suggest to our clients when looking to purchase a second home along the Crystal Coast.
#1 Know Your Goals
Will this home be your permanent residence? Are you planning on fully renting the home out? Will you be spending only part of the year at this location? Are you looking to get a high ROI, return on investment, on the property?
You want to make sure you have a clear idea of what you will be looking for in a beach home before you start house hunting. Some areas of the coast are very popular tourist destinations and will be very busy for parts of the year. Other areas are 4-wheel drive only access and by nature preserves. You can even find homes in welcoming local small towns but may be a bit further of a drive to the beach.
Because the areas of the coast can vary this much, we make sure our clients know their goal and understand how it dictates the areas we will have to find your home in. You don’t want to have a goal of owning the home as a rental property then have a home that is in a non-tourist spot, not close to main attractions, and without the ease of conveniences like restaurants and stores.
The same goal first mentality goes for someone who is looking to only be in their new home for part of a year. Coastal homes take a beating from the weather and outdoor elements which is why a condo style or townhome options with an HOA can be important to look into. Having someone to maintain the exterior of the home when you are not able to be around to keep an eye on it can be priceless when it comes to homes along any coast.
#2 Know Your Neighborhood
Before diving in and looking for any beach property that is in your price range, it is important to know which area of the coast best fits your needs, as stated in our first tip on knowing your goals. At Carl Johnson Real Estate we want to be the trusted advisor for you as you rely on our knowledge of the area to find a home that is best for you and your goals. Below are some neighborhoods which are best to consider for specific needs (some fit multiple needs too!)
Rental Property (homes by tourist attractions, popular restaurants, and beach and sound access)”: Atlantic Beach, Beaufort, Morehead City, Pine Knoll Shores, Emerald Isle, Indian Beach, Swansboro, Salter Path
Small Town Feels (homes with southern charm, school districts, well established neighborhoods): Beaufort, Morehead City, Swansboro, Down East, Newport
Peace & Quiet (homes nature preserves, limited lots): Pine Knoll Shores, Cape Lookout, Salter Path, Down East
#3 Stick to Your Budget
It is important to know your budget and to stick to it while searching for your home at the beach. It is hard to not get caught up in the glamorous style beach properties that pop on the market. We work hard as your real estate agent to make sure each of your goals are met while making your budget the least of your worries.
Your budget affects your rental price if you are looking to use the property as a rental. Your budget also affects your overall over mortgage payment and down payment as well so make sure to have an idea of a budget and stick to it.
If there are key upgrades you see in homes outside your budget while home searching, you can take note of these to add to your home in the future. For example, patio and deck spaces can always be upgraded and utilized more efficiently. Updated kitchens and bathrooms are also things that may price one home outside of your budget but something you can add to your property options over time!
#4 Use a Local Coastal Home Inspector
A home on the Crystal Coast is unique! The properties here withstand wind patterns that are special to the area, homes are built especially for their sand foundations which they stand on, and the home’s roof and siding are made to take on the ocean’s salty air. A home inspector that is not familiar with these elements may miss a major issue that exists in the property.
We will work with you and for you to find trusted inspectors in the area to make sure that you are using the best. We want to make sure you have an inspector that knows the area and coastal style homes to ensure your investment will be long lasting.
#5 Sunrise or Sunset!!
Something fun to consider when buying a Crystal Coast property is if you want to see the sunrise or the sunset while at your dream beach home! The Crystal Coast offers homes both oceanfront and sound front. You have wonderful access to the ocean water no matter where you are on the coast thanks to their many public access docks all along the water. So try to face the ocean if you want to wake up to the slow rise of the beautiful coastal sun or check out a sound side home overlooking the state of North Carolina and enjoy the colors of a dancing sunset while out on our peaceful deck.
We are here for you!
At Carl Johnson Real Estate we want to be your trusted eyes and ears at the Crystal Coast. From your beginning stages of budgeting and researching the area to finding a home inspector after your offer has been accepted, we are here for you! You can lean on our knowledge and skill to be with you each step of the way to ensure you find your perfect coastal home. And soon we’ll be enjoying a drink together while watching the sunset on the deck of your newly closed dream home!
CLICK HERE to read more about the Crystal Coast!
This month, I’m sharing a collection of encouraging updates, shedding light on the positive developments within the real estate market. At Carl Johnson Real Estate, our aim always is to provide insights that can fuel understanding of the market.
By exploring the content of this report, you can glean expert perspectives that contribute to a more informed view of the market's current state and potential trends, including insights into mortgage rate projections.
Are you curious about the current state of the housing market in your area? Contact Carl Johnson Real Estate at 919-880-0904 for insights on the latest trends and developments. Whether you're a first-time homebuyer or a seasoned investor, working with a REALTOR who stays informed and prioritizes your best interests is key to a successful real estate transaction. CLICK HERE to learn more about how we can help you reach your real estate goals.
NEW at the bottom of this blog page, be sure to see the data about two counties at The Crystal Coast, Swansboro to Beaufort.
According to the Triangle MLS in July 2023, “affordability constraints have continued to limit homebuying activity this summer, with existing-home sales falling 3.3% month-over-month nationwide. New Listings in the Triangle region decreased 25.2 % to 3,627. Under Contract Sales were down 0.9 % to 3,270. Inventory levels fell 16.5 % to 5,192 units. Prices were fairly stable. The Median Sales Price decreased 1.0 % to $416,000. Days on Market was up 66.7 % to 20 days. Absorption rates were even with last year as Months Supply of Inventory remained flat at 1.7 months.”
The Triangle MLS goes on to point out that, "despite a drop in existing-home sales, home prices have remained near record highs, with a national median sales price of $410,200 as of last measure, 0.9% below the all-time high of $413,800 recorded in June 2022, according to according to the National Association of REALTORS® (NAR). With only 3.1 months’ supply heading into July, the lack of inventory has boosted competition among buyers and put upward pressure on sales prices, especially in more affordable markets, where competition for homes remains particularly strong.”
In Durham County, the average July median sales price increased from $412,000 in 2022 to $423,00 this year, or by 2.7%. New listings and closed sales both decreased, by 33.7% and 29.8% respectively, but the July median sales price in Durham County was on par with the median sales price across all the MLS listings.
In Orange County, there was a 20.3% decrease in new listings in July. The number of closed sales decreased between 2022 and 2023, falling from 161 to 136 or by 15.5%. The median sales price increased by 3.5%, which meant in July, Orange County's median sales price was on par with the median sales price for all MLS listings.
In Wake County, there was a decrease of 31.2% in the number of new listings compared to July of last year. The number of closed sales also decreased, by 19.2% percent. The median sales prices decreased by 0.4% year to date, to $488,250, which is higher than the median sales price for all MLS listings.
In Carteret County, there were 141 new listings, comprising residential and multi-family properties. There were 148 sold properties in July. While the average list price was $694,215, the average sales price was $497,921, the average list price shows to be increasing significantly in August, which is good news for sellers.
In Onslow County, there were 1,128 active and 458 new listings in July, comprising residential and multi-family properties. There were 466 sold properties in July. While the average list price was $380,029, it shows to be increasing to an average of $427,399 thus far in August.
If you’re ready to buy or sell at the beach in Carteret or Onslow County, Carl Johnson Real Estate can help you at the Crystal Coast. Give us a call at Carl Johnson Real Estate--919-880-0904 to learn more about how we will help.
To learn more about the Crystal Coast CLICK HERE.
The August 2023 Institute for Luxury Home Marketing monthly trend report is out now! The following is per the Institute for Luxury Home Marketing August 2023 Market Report:
Understanding the New Reality of 2023
In this month’s report, we take a step back in time to understand why the luxury real market has truly changed, how this new reality for buyers and sellers was created, and why it needs to be appreciated. Using 2019 as our benchmark year, a year that saw a steady and more typical sales cycle but one that also showed a growing confidence in the purchase of luxury homes as the year progressed.
Growth was driven by demand as buyers saw financial potential due to strong stability within the luxury real estate market. Inventory availability in 2019 was not considered to be a factor in preventing sales, as most markets typically saw a significantly greater number of homes for sale than potential buyers. It’s interesting to note that prior to the pandemic it was rare for the luxury real estate market not to be more favorable to buyers, and equally, expectations were that homes would take much longer to sell than those in the traditional market.
As we all know, and it has been well documented, this all changed with the onset of the Covid-19 pandemic and the surge in demand for luxury properties. Demand outstripped supply at a dramatic and voracious level so that even the rapid change of the market in April 2022, which saw an influx of new listings, proved to be too little, given the uptake in sales during May and June of the same year. Like 2019, in 2023 there has been a return of confidence in the purchase of homes, month over month sales volumes have increased, after the market faltered in the last four months of 2022.
However, this is where the similarities end, as while demand is still important, the new reality is the status of the luxury real estate market is now clearly correlated to the level of available inventory. Comparing inventory data in 2023 shows the average level of total listings per month is still approximately 40% below levels in 2019.
The data also clearly shows that it is not just the depleted level of inventory that is holding back sales, but it is the actual number of new listings entering the market each month that must also be directly correlated to sales activity – if the level of new inventory increases, so does the number of sold properties for the month, and vice versa.
This new reality of understanding inventory levels compared to sales is the key to appreciating how the market will continue to favor sellers, especially as many homeowners continue to remain reluctant to list their properties.
It’s safe to say that we can all recognize that the luxury real estate market has shifted, but overall, the market has now found its new norm, slowing from the fast-paced seller’s market of previous years. So, the key to selling and achieving the maximum return on your property lies in leveraging what the market is currently demanding. While each market certainly has its own nuances, one trend has become very apparent in the luxury market – it’s all about the ‘experience.’
No matter who we talk to, savvy homeowners, luxury real estate professionals, developers, architects and designers, they are all putting their emphasis on defining the experience as part of their luxury marketing message. The general message is that luxury is not about throwing money around by adding more fancy materials but rather about creating a comfortable experience that affords the feeling of luxurious wellness and safety.
CLICK HERE to download the full report in its entirety. We are happy to share this information with you. At Carl Johnson Real Estate we use our experience and knowledge to lead our clients in the right direction.
CLICK HERE to read more about Carl Johnson, REALTOR®, Broker, Owner, and Founder of Carl Johnson Real Estate. Carl is certified as an Institute for Luxury Home Marketing Specialist, CLHMS, which means he offers superior knowledge and experience in the luxury market. His CLHMS membership also provides him with access to an elite network of contacts and resources that help drive the perfect buyer to your high-end listing or find you your dream home! Using the most up-to-date marketing information, Carl positions your listing ahead of the market curve.
Call 919-880-0904 for a consultation or CLICK HERE.
The demand for homes is still really high in the Triangle area and across a big chunk of North Carolina. But what's catching a lot of attention nationally is how the coastal areas of the state are becoming some of the hottest places for real estate, according to an article in the digital edition of the Triangle Business Journal on Aug 9, 2023, titled “North Carolina Coast Sees Big Gains Among Nations Hottest Housing Markets.”
A study done by the Triangle Business Journal looked at how home prices are changing in different ZIP codes where the typical home is worth at least $250,000 and where at least 5,000 people live. They found that some of the most exciting real estate action is happening in places that are popular for tourists or where people like to have second homes.
It's interesting to note that three out of the top five places with the most active real estate markets in North Carolina are right along the coastline. The other two places in the top five are also famous tourist spots.
At the very top of these exciting markets is Holly Ridge. It's a small town between Wilmington and Jacksonville in Onslow County. Even though it's not right on the beach, it's really close to popular spots like Topsail Beach and Surf City. The average value of homes there has gone up by almost 100% in just five years! It used to be around $260,000 and now it's over $500,000.
On a national scale, Holly Ridge came in 10th place among all the ZIP codes with the most action in the real estate market. And two more coastal places from North Carolina, Oak Island (12th place) and Carolina Beach (18th place), also made it to the list along with famous spots like Vail in Colorado, Miami and Palm Beach in Florida, and Jackson in Wyoming.
The other two places in the top five in North Carolina are Southern Pines and Boone. Southern Pines is known for golf and retirement, and Boone is up in the mountains and attracts lots of tourists every year.
Whether you’re looking to buy or sell in Onslow or Carteret County, in the greater Triangle area, or Durham-Chapel Hill, at Carl Johnson Real Estate, we walk you through all the details of each and every purchase or sale and always protect your best interests. Give us a call at Carl Johnson Real Estate to learn more about how we will help you achieve your real estate goals. Call us TODAY 919-880-0904.
And CLICK HERE to read more about the Crystal Coast!
Navigating the potential bumps in the road when buying a beach house could be made smoother, especially with the expertise of a trusted real estate professional by your side. The projected cost increase in 2024 for beach house enthusiasts might seem daunting, as according to an article in the Triangle Business Journal on Aug 03, 2033, “Owning a Beach Home in NC Could get More Costly as Insurers Seek 50% Rate Hike” in dwelling insurance rates for second-home owners.
Dwelling insurance, distinct from typical homeowner's insurance, is tailored for residences not occupied by their owners, encompassing vacation properties and rental units of up to four. The combination of rising property values and inflation has prompted insurance companies to seek adjustments. If approved by the North Carolina Department of Insurance, this change is slated to take effect from June 1, 2024, though its approval is not guaranteed.
Mike Causey, the North Carolina Insurance Commissioner, acknowledges the substantial nature of the Rate Bureau's request, suggesting that justifying such a significant increase would be an uphill task. As the North Carolina Department of Insurance invites public feedback, Causey welcomes input from property owners, investors, and those involved in rental properties.
While the outcome of the Rate Bureau's proposal remains uncertain, at Carl Johnson Real Estate we always have your best interest in mind. With the prospect of owning a beach house becoming more complex in the coming years, enlisting the aid of an experienced realtor is key. Call us TODAY 919-880-0904 and with Carl Johnson Real Estate by your side, you can better navigate the changing landscape of beach house ownership and make informed decisions.
Learn more about the Crystal Coast Communities CLICK HERE.
The Triangle's housing market is on fire, offering exciting opportunities for home sellers. On July 21, the Triangle Business Journal reported that “Already in record territory, [the] Triangle resale housing may break more records.” What this means is that the current situation presents opportunities for home sellers in our area.
If you are a buyer, Carl John Real Estate can help you navigate this very competitive market and get you the home you are looking for.
Promising Growth Prospects: According to the Triangle Business Journal's article, data indicates that the growth rate of existing home sales may surge even further in the coming years. This means that homeowners looking to sell can expect an increasingly favorable market for their properties.
Ideal Timing for Sellers: With the average sale price of existing homes in the area seeing significant growth, there couldn't be a better time for home sellers to enter the market. As the demand for housing continues to rise, sellers stand to benefit from the current market conditions.
Strong Builder Confidence: The rise in new home inventory and soaring builder confidence are indicators of a robust housing market. For sellers of newly constructed homes, this surge in demand presents a great opportunity to secure better prices for their properties.
Limited Supply and Increasing Demand: The Triangle region is witnessing an interesting dynamic where the demand for housing is outpacing the supply of existing homes. This translates to a seller's market where homeowners have an edge in negotiations.
Positive Impact of Influx: The influx of individuals from other states, attracted by the region's thriving job market, bodes well for home sellers. As the area welcomes newcomers from cities like California, Toronto, and Boston, the demand for housing is only expected to grow.
Favorable Economic Conditions: Despite the challenges posed by the Canadian wildfire affecting lumber supply and mortgage rates hovering between 6% and 7%, the overall economic conditions remain strong. These factors, combined with the influx of jobs, can provide a stable foundation for sustained growth in the housing market.
While the rising housing prices may bring challenges, they also create opportunities for home sellers in the Triangle region. Whether you're curious about the current state of the housing market or considering listing your home for sale or buying a property, feel free to reach out to Carl Johnson Real Estate today at 919-880-0904. Our team is here to provide insights and discuss your options.
For more information about Raleigh, CLICK HERE.