By the end of first week in August we saw a drop in mortgage rates to below 5% for the first time since April! According to said George Ratiu, Realtor.com’s manager of economic research, “without a clear direction, markets are confining mortgage rates to move within a tighter range, as the sharp upward push has moderated,” he said. This statement goes in line with Dr. Yun's last insight, that the large jumps and spikes in rates have already happened, making for a more stable market rate.
Another positive benchmark for the market was in the report of low unemployment rates for July. "Based on Friday’s BLS (Bureau of Labor Statistics) data, employers added 528,000 jobs in July—up from 372,000 in June. This mid-summer performance helped bring the national unemployment rate down to 3.5%, marking a total return to its February 2020 pre-pandemic levels" (RisMedia.com).
What does this low unemployment rate mean to the housing market? It goes hand-in-hand to say that a job, income, and applying for a mortgage are positively correlated. But overall, unemployment is showing a strengthening economy in a time when people fear a recession. It is one step forward in the right direction.
Dr. Lawrence Yun, Chief Economist at National Association of REALTORS says: "Given the comeback in jobs, how are home sales? They are running below the pre-pandemic numbers seen in early 2020 and slightly below the 2019 annual total. Mortgage rates appear to be settling down over the past month at below 6%, with the past week dipping to 4.99%, but they are well above the 3.6% to 3.9% rates in the months before the pandemic. In other words, home sales are more impacted by mortgage rate changes than jobs. But the recently stabilizing mortgage rates suggest home sales will also soon stabilize and are likely to make steady gains in 2023."
Steadying interest rates, an increase in home inventory, and as more and more Americans are going back to work, there is more opportunity for the housing marketing to become more stable. Whether you are looking to buy or sell, you can trust our experience and knowledge to guide and help you. CLICK HERE to contact us now!
Join the Coldwell Banker Howard Perry and Walston Team!
VP of Marketing
Below is the job description for the open position with the HPW Marketing Department. The VP of Marketing is responsible for developing and leading strategic marketing initiatives for HPW, its business units, and its affiliates. It is a full-time position and located at the Wade Ave. location in Raleigh.
If you are interested in applying, please send your resume to firstname.lastname@example.org or
CLICK HERE to apply online!
Job title VP of Marketing
Reports to CEO or Their Designee
Classification Salary Exempt
The Coldwell Banker Howard Perry and Walston Marketing Director plays a key role in leading and developing strategic marketing initiatives for the company. The Marketing Director will work closely with members of the executive management team and other business unit leaders to ensure that the company’s marketing programs effectively reach target audiences and utilize the latest in technology and marketing best practices. They will lead and mentor other members of the Marketing department staff.
Duties and responsibilities
● Develop and execute strategic marketing plan for Coldwell Banker Howard Perry and Walston, its business units, and affiliates.
● Create, implement, and oversee communications programs that effectively support the vision and goals of the company, its business units, and affiliates.
● Work diligently to maximize the Company’s image, reputation and goodwill both within the company (internal public relations) and outside the company (external public relations).
● Monitor the effectiveness and efficiency of marketing and advertising programs of the Company, its business units, and affiliates and adjust those programs as needed to maximize market presence, revenue and return on revenue.
● Conduct research and develop strategies that will enable the Company, its business units, and affiliates to identify, respond to, and capitalize upon consumer preferences, trends and opportunities within the market.
● Maximize efficiency, economy and effectiveness of Corporate Marketing Department.
● Explore, develop and implement the most effective technology tools and resources for the Company’s agents, employees and consumers. Market these tools and resources internally and externally.
● Plan, organize and manage all Company major events.
● Create, manage, and maintain marketing budgets.
● Hire, train and manage all Marketing Department staff.
● Serve as president of the HPW Foundation
● Conduct, supervise and/or participate in other tasks assigned by the CEO or their designee as they relate to the Company, its business units, and affiliates.
● Creation, maintenance and management of company and affiliate websites and related SEO to drive traffic leads.
● Maintain compliance for brand standards.
● Other duties as assigned
Required Experience, Skills and Education
● Bachelor’s degree and 15 years of experience in marketing
● Seven or more years of marketing management experience
● Experience in a real estate brokerage environment preferred but not necessary
● Computer experience including MS Office Suite, Apple and Google products and video editing
● Excellent interpersonal skills, effective verbal and listening communications skills
● Self-motivated with a positive attitude and a strong work ethic
● Broad understanding of technology
● Strong leadership skills
● Strong project management skills
The physical requirements of this position include sitting, standing and the ability to talk and hear. The position may also require some lifting of supplies and materials from time to time, up to 20 pounds.
Our Commitment to Diversity, Equity, and Inclusion
Diversity, Equity and Inclusion are top priorities for HPW. We are committed to building and maintaining a diverse workforce by creating an environment that values the uniqueness and differences of our employees and agents. We believe a diverse workforce enables us to better provide for, understand, appreciate, and meet the needs of our customers, employees, and agents.
We offer a competitive salary based on experience.
To apply, submit resume to email@example.com.
Carl was honored to be published in New Homes and Ideas Magazine
as well as on WRAL News.com featuring his article on Native Gardens!
CLICK HERE to see the full publication online and read it below!
Native Gardens: Supporting Local Businesses & Your Local Environment
By Carl Johnson
Featured Photo by Isaiah N Lilly/Shutterstock.com
The Triangle is literally in bloom this time of year! Surrounded by vibrant greens, the work in the garden is just getting started and the seemingly never-ending battle of weeding and mowing has only just begun. But, what if there is a way to help beautiful natural gardens grow that could mean less fighting of the weeds for you, and supporting the natural growth of your neighborhood? Native gardens are not only a hot new trend, but are proving to be beneficial for the environment and animal life.
A Native Garden promotes the growth of greenery that was originally native to the area. In growing indigenous plants, the native species of insects, birds, and other animals, benefit from the food and shelter these plants provide. Some quick research and planning can have a lasting positive impact on your surroundings. It doesn’t matter whether you plant one row of flowers, or reconstruct your full landscape, having native plants is a step forward to a healthier Earth.
What are the benefits to growing a native garden?
Native flora can be just as visually appealing as a non-native garden, but the main benefit to planting native is the ecological impact. Indigenous plants support and allow biodiversity to grow, which is essential to all life on Earth. From proper plant pollination to purifying the air and water, biodiversity is a constantly moving cycle supporting life through all of its stages. Over-manicured lawns and the planting of only “big-store bought flowers” decrease the diversity of available plant life. As areas like the Triangle continue to grow and develop, the natural landscape gets changed and it becomes even more important to replace the native plants that were there. Local insects and pollinators will see a decrease in population as our local plants get removed. A decrease in insects sets off a chain reaction that negatively impacts most other animal life.
Another benefit of native gardens is that they can be low maintenance. Since these plants are indigenous, they are typically more resistant to the diseases and pests of the area, and adapted to the local soil type. Once proper native perennials are planted, especially seasonal native plants, your garden will continue to grow and bloom on its own. Pollinators will thrive with these additions and will help your garden to grow and survive year after year.
A less impactful reason to plant native, but a rather interesting take, is that native plant life ties the area to its history and how the community originally looked and felt. For history-rich areas such as North Carolina, having native plants helps to tell the story of its many historic towns and homes.
What plants are local to the Triangle Area? And how to plant them!
Native plants are determined by your specific location known as an ecoregion. These ecoregions have different levels, Level I being the broadest, to Level III which gives specifics to smaller areas housed in the Level I and II ecoregions. The EPA gives detailed maps of the Ecoregions in North America which show that most of the Triangle falls under Level III 8.3.4 – Southeastern USA Plains – Piedmont. Though, it is best to use the EPA resources for your specific home when starting your native garden. Once you know your exact Ecoregion you can research which types of plant life are native to your home.
As specified by the EPA’s Ecoregions, the Triangle falls under the area Level III 8.3.4 – Southeastern USA Plains – Piedmont, but what does this mean to you as you start your native garden? It is important to first look at the area you are planting in and take into consideration size, soil type and drainage, and sunlight exposure. After all just because a plant is native does not mean it will thrive or be easy to tend to. NC State’s Gardener Handbook suggests planting in layers if you are able to. From tall canopy trees down to the lowest ground layer, you can find native plants throughout.
The National Wildlife Federation (NWF) is a fantastic resource where you can search by zip code for plants that are native to your area. They even offer a ranking that shows the number of butterflies and moths that use each specific plant for their caterpillars, helping to directly promote biodiversity. Below are a few of the native plants listed for the Raleigh zip codes found on the NWF website.
Flowers and Grasses: Atlantic Goldenrod (Solidago), Virginia Strawberry (Fragaria), Giant Sunflower (Helianthus), Arrowleaf Violet (Viola), Carolina Geranium (Geranium), Broadleaf Ironweed (Veronia), Beaked Panicgrass (Panicum)
Trees and Shrubs: Oak (Quercus), Chickasaw Plum (Prunus), Red Maple (Acer), Coastal Plain Willow (Salix), Crabapple (Malus), American Beech (Fagus), American Elm (Ulmus), Pond Pine (Pinus)
What is happening locally to support Native Plants? What Can You Do?
You may have heard of No-Shave November but what about No-Mow May? This event took place in May throughout the country and promotes no lawn mowing for the whole month of May. The end result is an increase in plant and flower growth giving the pollinator species the resources and food they need to survive as they come out of their hibernation. The town of Carrboro participated in No-Mow May as a part of their Bee City USA initiative. You can take the idea of mowing less often throughout the entire summer, not just May, to help promote native species growth.
There are also a variety of places to visit to learn more on native plants, specifically local botanical gardens. The North Carolina Botanical Garden located in Chapel Hill, Juniper Level Botanical Garden in Raleigh, and JC Raulston Arboretum in Raleigh are all breathtaking, relaxing, and educational gardens to visit where you can enjoy the outdoors while learning about native plants and how you can help promote them!
A smaller and simpler task than rebuilding your whole garden can be adding a rain barrel to your downspouts. A rain barrel can hold up to 55 gallons of water which you can in turn use to water your flowers and garden while decreasing your water bill. This simple way of going green aids the environment through natural water conservation, benefits you through money savings, and can be very aesthetically pleasing!
Another small impact you can have is to look into whether or not you have a green HOA. A green HOA is one who makes an active choice to use companies, materials, plants and landscaping designs that are both energy-efficient and eco-friendly. A simple letter asking your HOA to explore this route can have a beneficial long-term effect for your neighborhood.
A Native Garden: Helping Your Neighborhood and Your Neighborhood Wildlife
Native Gardens are a trend that is not going away and hopefully will become the way of gardening in the future. Building a whole garden around native plants can be a challenge, but for many, gardening is a passion and taking the time and care to give back to your land through your plant choice can be very rewarding. If you live somewhere without an area to garden, try putting some local Carolina geraniums in a hanging basket and watch the butterflies flock to it. No matter the size, one small step forward can have a lasting impact!
When looking to buy a home it is important to keep in mind those values that are of importance to you. That is why working with a local experienced buyer’s agent is the way to go. If going green and ideals such as a native garden are important to you, a buyer’s agent can help you research the area’s HOA to see if they support these same goals. Your agent can also help to direct you to an area of town that is rich in history and preserving the natural culture of the area. A buyer’s agent will protect your best interests as a buyer and make sure to keep your needs top of mind.
Carl Johnson, Realtor, Broker
I’ve lived in the Triangle area since 1986, and it has always been home in my heart. I attended the University of North Carolina School of the Arts for high school and college, where I studied voice. After graduating, I decided to enter the business world, where I worked in several marketing, publishing and advertising endeavors, one which took me across the United States prior to my real estate career. After years of local real estate experience, I am now the proud Founder of Carl Johnson Real Estate and lead my company of experienced agents, along with our in-house operations and marketing teams. We are a referral driven company putting our clients first while going above and beyond expectations with a focus on detail and client needs. Learn more about Carl Johnson and Carl Johnson Real Estate by visiting www.CarlJohnsonRealEstate.com.
In an article published August 2, 2022 by CNN's Anna Bahney, the topic of "What is next for the US Housing Market?" was covered with insight from Dr. Lawrence Yun, the chief economist for the National Association of Realtors. CLICK HERE to read the full article or see below for excerpts highlighting the market. Now is a great time to buy and sell.
Mortgage Rates Will Settle by the Year's End
"Yun said that while mortgage rates may tick up or down in the months to come, the biggest jumps have already happened. 'We may be topping out on mortgage rates,' he said. Yun noted that mortgage rates may have largely already "priced-in" the Fed's current and anticipated future interest rate hikes. He expects mortgage rates will settle in near 6% by year's end and that home sales will normalize once mortgage rates become more stable."
Inventory Will Rise
"As the market slows, potential buyers who continue to search for a home will have less competition and more homes to chose from, offering more breathing room than the frenzied market of the past two years.
Soaring demand to buy a home during the past two years led to record low inventory of homes to buy and that pushed prices up. In June, inventory saw its first year-over-year turnaround in three years. The number of homes available for sale at the end of June was up 9.6% from May and 2.4% from a year ago, according to NAR."
Home Prices Will Rise More Slowly
"The median price of a home reached a record high of $416,000 in June. But the pace of price growth has been slowing lately. Median home prices for existing homes were up 13.4% in June from the year before, compared with the 23% spike in home prices in June 2021, according to NAR.
Yun said he expects home prices for this year will be up 11%. That's less than the 16.9% year-over-year increase from 2020 to 2021, but more than he had predicted at the beginning of this year. As higher mortgage rates tamp down buyer demand, inventory will rise and sales will fall, which should help prices to moderate the rest of this year.
'Homes may be sitting on the market longer, there will be more properties with price reductions," Yun said. "Buyers who do deeper homework may be able to find a home with a price reduction or get a better price negotiation.' "
At Carl Johnson Real Estate we use our experience and knowledge to lead our clients in the right direction. CLICK HERE to read about Carl and David, our two Full Time Real Estate Brokers, and see how their experience will help you today!
The Institute for Luxury Home Marketing has released their July 2022 monthly trend report, CLICK HERE to download the full report. We are happy to share this information to you from our personal resources! The following is per the Institute for Luxury Home Marketing July 2022 Market Report:
"In short, despite increasing inventory levels and the slowing of sales transactions, experts are very clear that buyers waiting for prices to plummet to pre-COVID levels are unlikely to witness a nosedive any time soon.
Popular price points, especially in metropolitan areas, are still seeing a slight upward trajectory, with only the newer boomtowns that benefited from the mass exodus from cities starting to see impatient sellers decrease their listing prices.
Although interest rates and inflation are slowing the pace of real estate, there has been a significant influx of former and new residents entering many of the more established metropolitan markets over the last year. The rental market flooded, causing rental prices to soar. With the cooling of the residential resale market, many renters have started to buy despite rising interest rates, weighing up the costs in favor of homeownership.
Supply is still low for luxury properties comparatively, which also gives potential buyers the opportunity to see their new property appreciate in value, especially as more people continue to return and fuel the demand further in the months to come.
The summer and fall of 2022 are likely to see a very unsettled picture with regard to inventory levels, prices, and sales. Those looking at real estate as an investment expect a slower and bumpier ride compared to the last two years.
Homeowners looking for their next home then recognize that costs to purchase will be higher (mainly due to increased mortgage rates), but that over the long-term real estate offers one of the most consistent ways to see a good return, but more importantly, ownership provides security and a safe haven for your family."
See the 13 Month Market Trend below on Luxury Homes below:
Raleigh-Durham Single Family Home July 2022 Luxury Market Review stats are below:
Looking for ways to introduce luxury into your current home? CLICK HERE to check out our blog post on Smart Home Trends to read about new technology you can add to your home today to make it more modern!
Life doesn't always go as planned but you can be prepared for the unexpected. Here are some tips to help in this rare occasion. From signing up for alerts through local emergency channels, to keeping important paper documents in a weatherproof box, you can take one small step now to save time and worry in the future. Some tips are below as well as an emergency kit check list that you can prepare now and use in case of an emergency.
Per the June report from Triangle MLS:
"Record-high home prices and surging mortgage interest rates are taking their toll on America’s homebuilders, with builder confidence falling for the sixth consecutive month in June and dropping to its lowest level in two years, according to the National Association of Home Builders (NAHB). Buyer traffic is down, and as construction costs increase and housing affordability declines, construction on new homes is slowing, reflecting concerns among builders about current and future sales of new single-family homes in the months ahead.
Market-wide, inventory levels were up 58.7 percent. The property type that gained the most inventory was the Single Family segment, where it increased 61.3 percent. That amounts to 1.3 months supply for Single Family homes and 1.0 months supply for Townhouse-Condo."
In Chatham County, there was a 12% increase in new listings in June. The number of closed sales decreased between 2021 and 2022, dropping from 780 to 651. Median sales prices also increased by 8.5 percent. In June, Chatham County median sales price was higher than the median sales price for all MLS listings.
In Durham County, closed sales have decreased 3.9 percent year to date. Median sales price has increased 22.2 percent when compared to June last year, moving from $351,744 to $430,000. Average sales price increased by 20.1% year to date. In June, the Durham County median sales price was higher compared to the median sales price of all MLS listings.
The number of listings in Orange County has decreased by 14.3 percent, from 1,216 new listings year to date last year to 1,216 new listings this year. There was a year to date 8.2 percent decrease in closed sales. Additionally, median sales price increased by 12.3 percent, from $406,539 to $456,558. In June, Orange County median sales price were above the median sales price for all MLS listings.
The number of listings in Person County has increased by 7.7 percent, from 260 new listings year to date last year to 280 new listings this year. There was a 2.5 percent decrease in closed sales. Additionally, median sales price increased by 14.0 percent, from $215,000 to $245,000. In June, Person County median sales price was below the median sales price for all MLS listings.
In Wake County, there was a decrease of 4.2 percent in the number of new listings year to date compared to last year. The number of closed sales decreased 13.5 percent. Median sales prices increased by 24.2 percent year to date, rising to $466,713. Compared to the median sales price for all MLS listings, Wake County median sales price were slightly higher for June.
Ready to start looking for your new home? Read our resource section on Getting Ready for a Mortgage HERE to learn how to get started on the right foot!
As we use our mobile devices for more and more, it is important to take the time to make sure your information is safe. From looking at sources before you buy to using protected networks, you want to ensure that your personal info is safe from hackers. See our flyer below for information on Tips to Protect Your Smart Devices so you can relax while getting the best use out of your technology!
Did you know Carl Johnson Real Estate is made up of experienced professionals that are here to help you! CLICK HERE to read more about our Company and how we all work together to get the best results for our clients!
The Institute for Luxury Home Marketing has released their June 2022 monthly trend report, CLICK HERE to download the full report. We are happy to share this information to you from our personal resources! The following is per the Institute for Luxury Home Marketing June 2022 Market Report:
According to our analysis of North America’s top 140 luxury markets, the new listings entering the market in May 2022 increased by 61.3%, resulting in the single-family home inventory level rising by 27.5% compared to May 2021.
Overall, the median price for properties in the Top 10% of the market rose approximately 16% year over year. Although this is still a substantial percentage increase, it is smaller than May 2021, which reported a 24% increase over May 2020.
Despite the rising inventory levels, the market remains extraordinarily strong; the sold price to list price percentage rose by 1% in May 2022, above an already unprecedented 100% ratio in May 2021, and days on market for sold properties fell by 30%.
Of the 140 markets researched, 129 remain seller’s markets – not surprisingly, the markets that are either balanced or become buyers’ markets are seasonal markets, such as ski resorts and winter sunshine destinations, whose main buying season has finished.
The current market has offered many a homeowner the opportunity to sell far above pre-covid expectations; however, it has also come with its own challenges. In the first four months of 2022, many homeowners were hesitant to put their property on the market, fearing that they would not find a new property because of the lack of inventory or that prices would continue to escalate, and they would find themselves priced out.
But as prices began to level out over the last two months, sellers started to feel more comfortable putting their homes on the market, and the level of inventory in many luxury locations throughout North America increased significantly in May.
This “sudden” upward shift of inventory has already started the rumor that the housing market is ready to burst its bubble – and indeed, some highly inflated markets and overpriced properties may well be impacted – but most experts acknowledge that this is simply the market finally starting to cool.
No one could expect the luxury housing market to continue accelerating at the velocity seen over the two years; the epic run had to end one day. Economic uncertainty, rising interest rates, volatile stocks, supply issues, and increased cost of living are all aspects that, even for the ultra-wealthy, could start to impact property purchase decision.
It is important to put everything into context as it will still take a lot more inventory to see a truly meaningful impact on the rate of price increases, especially in the low to mid-price luxury ranges. Homes are still selling quickly, spending four days less on the market than this time last year. Moreover, even with the current increases in supply, inventory remains nearly 50% below its pre-Covid levels, keeping competition tight for now.
"Nevertheless, a slow but steady increase in inventory could signal the start of market trends that will finally work in buyers’ favor. With more options, home shoppers may see a bit more negotiating room and time to make decisions, even as market conditions continue to favor sellers,” Realtor.com chief economist Danielle Hale stated in a report dated June 4.
See the 13 Month Market Trend below on Luxury Homes:
Raleigh-Durham Single Family Home June 2022 Luxury Market Review stat are below:
Getting ready to travel for a fun filled summer vacation? Check out our blog for some great tips to Ways to Save for Vacation! CLICK HERE to read more!
Technology is always advancing, and it is hard to keep up with trends! More and more technology changes are taking place in the home, from smart refrigeration to pet productions! See below information on popular 2022 trends to keep your home smart and secure!
Want to learn more about Smart Home Technologies? Check out Carl's Original Content article on Whole Home Automation, CLICK HERE to read more!