Allen says sales of new construction are returning to pre-recession paces. With the last several months showing impressive signs of a recovery, inventory  levels lower than they have been in years and interest rates still historically low, the real estate market is more of a “Sellers-Market” than the “Buyers-Market” of the past several years.

Check out the interview with Jim Allen and Jeremy Salemson, CEO of Corporate Investors Mortgage Group on WRAL.com.

What Are Your Thoughts About the Direction of the Raleigh Real Estate Market?

Leave a comment below and tell us what you think.

If you are in the market for a new home, like to see what is out there in new home construction or are a “Looky-Lou” who just likes to tour new homes… You won’t want to miss the “Spring New Home Tour”. The weekend of March 24th and 25th from 12 to 5PM you will have the chance to tour 90 new  homes in Wake County. Not only will these 90 homes be open but, in many new home communities, there will be additional houses to view. The Spring New Home Tour is a great way to check out new communities, see some impressive details and custom features and get excited about buying your next Dream Home!

At The Jim Allen Group, we represent over 30 new home communities in the areas of Raleigh, Wake Forest, Youngsville, Franklinton, Creedmoor, and Zebulon. Each neighborhood is unique with different price points, home styles, features, amenities and builder teams.  With all these communities, there is something for everyone!

In this Spring New Home Tour, The Jim Allen Group represents 4 of the entries. Each of these new homes offer custom details, impressive features, unique floor plans and are in communities that offer conveniences and amenities. The communities are: Claridge in Raleigh and Majestic Oaks and Hillcrest Farms in Wake Forest. Here are some additional details and directions to each of the homes. I hope you take advantage of this great weather and this opportunity to tour some custom new home construction!

CLARIDGE,  RALEIGH, NC

8107 Andrea Lane, Raleigh, NC 27615   MLS#1802881

4 Bedrooms   3.5 Baths   3580 Sq. Ft.   3 Car Garage   Energy Star

 HILLCREST FARMS, WAKE FOREST, NC

2024 Shingleback Drive, Wake Forest, NC   MLS#1799684

4 Bedrooms   3.5 Baths   3013 Sq. Ft.   3 Car Garage    Energy Star

 MAJESTIC OAKS, WAKE FOREST, NC

5644 Clearsprings Drive, Wake Forest, NC    MLS#1806359

4 Bedrooms   3 Baths   2760 Sq. Ft. + 890 Sq. Ft. Unfinished Space   Energy Star

MAJESTIC OAKS, WAKE FOREST, NC

4129 Field Oak Drive, Wake Forest, NC   MLS#1780768

4 Bedrooms   3.5 Baths   2960 Sq. Ft.   Energy Star & EPS Indoor AirPlus

Ashton Meadows is nestled among mature landscapes, rolling hills and two community ponds which provide amazing water views. These craftsman style custom homes from the mid $200’s feature impressive details such as hardwoods in the main living areas, gourmet kitchens with custom cabinets, granite counter tops, SS appliances, open floor plans, screened porches, first-floor master options, 2 and 3-car garages and  additional unfinished storage space that provides future expansion possibilities. The craftsmanship is evident throughout these homes with crown molding, coffered ceilings, trey ceilings, custom built-ins, unique tile work and fully landscaped yards. Ashton Meadows is only minutes to US-1/Capital Blvd., convenient to shopping, schools, and town services.

After touring the 3 homes, attendees submitted entries to a drawing for a romantic dinner for two at Angus Barn plus additional cash prizes; Marcella Ellis with Keller Williams Realty won the grand prize and cash prize winners included: Colleen O’Keefe – Coldwell Banker HPW, Luis Turner – Youngsville Realty, Phyllis Moy – Coldwell Banker HPW and Ann Marie Della Morte – Youngsville Realty.

The 3 new homes included:

• 40 Cranbrooke Drive, Lot #23 – MLS#1817204
• 60 Cranbrooke Drive, Lot #21 – MLS# 1804950
• 90 Cranbrooke Drive, Lot #19 – MLS #1812781

You can visit Ashton Meadows by taking US-1 N/Capital Blvd. through Wake Forest, Cross Hwy 98; Turn Right on Holden Road (@ Sheetz); Drive through Youngsville town center; Left on Cedar Creek Road; Right on Hill Road; Left into community. You will be impressed by the large lot sizes, and the uniqueness of each of the homes. An on-site agent is available Saturday and Sunday from 1 – 5 PM.

The event was an opportunity for local area realtors to visit the neighborhood and experience the charm and amenities offered. With expansive lot sizes, unique home plans and styles and a planned playground, pool and clubhouse, this is a wonderful neighborhood at a great price point.

Tri County Parade of Homes Awards

At the end of the tour, guests enjoyed a delicious array of appetizers, beer and wine and the opportunity to win an iPad and Cash Prizes. The grand prize winner of the iPad was Keith Weaver of Coldwell Banker HPW and Cash Prize winners included: Jane Mansell of Sensational Realty, Kay Lavelle of Allen Tate, Allison Coudell of Re/MAX Preferred and Missy Robbins of Baily Wright.

Two of the five homes won Silver Awards from the Tri-County Parade. The five homes included:

• 280 Plantation Drive, Lot #10 – Built by MBC Homes, LLC – SILVER WINNER
• 236 Plantation Drive, Lot #96 – Built by  Sumner Construction – SILVER WINNER
• 21 Larkspur Court, Lot #24 ­– Built by Brandywine Homes, Inc.
• 225 Plantation Drive, Lot # 43 – Built by Grant Construction, Inc.
• 149 Meadowrue Lane, Lot #72 – Built by MBC Homes, LLC

You can visit Winston Ridge located off US-1 N/ Capital Blvd.; Turn left on Hwy 96 and the neighborhood is .5 miles ahead, on your right. Homes are Energy Star and offer 100% Finance to qualified buyers.

The neighborhood of Majestic Oaks located off Rogers Road in Wake Forest took 3 Gold Medals and had 1 Perfect Score! This fabulous community boast an award winning builder team and offers custom homes from the $300′s. There are 8 parade homes in Majestic Oaks and they are:

• 5637 Clearsprings Drive, Lot #25 - Built by Valenti Homes – GOLD WINNER with 1 Perfect Score
• 4105 Field Oak Drive, Lot #47 – Built by Cambridge Classic Homes, Inc – GOLD WINNER
• 4208 Field Oak Drive, Lot #28 – Built by Pinnacle Home Builders & Construction – GOLD WINNER
• 5700 Clearsprings Drive, Lot #3 – Built by Imperial Custom Homes
• 4209 Field Oak Drive, Lot #57 – Built by Sawyer Homes, Inc.
• 4128 Field Oak Drive, Lot #32 - Built by Valenti Homes
• 4108 Field Oak Drive, Lot #37 – Built by Foxwood Builders, Inc.
• 4112 Field Oak Drive, Lot #36 – Built by Stellar Blu Construction, Inc.

This next weekend (October 14-14-16) is the final weekend of both the Wake County and Tri-County Parades. If you haven’t had the opportunity to check out some of the amazing communities and homes available, I encourage you to do so. The weather is perfect to head out and tour these impressive properties that offer unique design trends, high-end technology and energy efficiencies, custom styles and floor plans that will all peak your interests.

Over $175 worth of Mary Kay Products!

The Opening of the Wake County Parade is tomorrow and its going to be exciting! The Parade is every Saturday and Sunday from October 1st through the 25th with viewing hours from 12 – 5PM.

The Jim Allen Group represents 16 homes in 7 neighborhoods and 8 of these homes are within Majestic Oaks located in Wake Forest off of Rogers Road. Its a great time to check out this fabulous neighborhood and see the beautiful homes available. If you have the opportunity to visit Majestic Oaks this Saturday, be sure and stop by 4112 Field Oak Drive, Lot # 36 by Stellar Blu Construction as we will be having a Special Drawing for a Gift Basket worth over $175 of Mary Kay Products. This is for this Saturday ONLY. All you need to do is tour this beautiful home and fill out an entry form. At the end of the day, we will choose one winner. You do not need to be present to win!
Hope to see you there!

This beautiful neighborhood located in Wake Forest offers a wide array of conveniences including grocery stores, shopping, restaurants, area attractions, close proximity to schools, parks and recreation. Lots in Majestic Oaks are approximately 1/3 acre in size and homes start in the $300′s.

Jill Morin, of Allen Tate Realtors won the iPad and was thrilled by the event and even more so by winning the grand prize!

This weekend is the opening of the Wake County Parade of Homes and The Jim Allen Group will represent 34 of these homes in the neighborhoods of: Bartons’ Creek, The Meadows, Majestic Oaks, Heritage, Stowecroft, Wakefield and North Ridge. If your looking for something to do – Its a great time to view some beautiful homes and see some of the latest and greatest in home construction and energy efficient building technology!

Despite these facts, homeownership rates have taken a hit since the recession in 2009. Falling home prices along with reduced access to credit has kept many would-be buyers from entering the market. According to Morgan Stanley, the current homeownership rate is around 59.2%. This is lowest rate since the Census Bureau began tracking in 1965. Has this reduction been a fear-based one?

Here are the top five benefits of homeownership that have not changed, even in a down economy:

1. Savings:  long-term homeownership is still a way to get big savings.
2. Tax Breaks: Many homeowners are still able to take the mortgage interest deduction (MID) each year, along with great rebates and credits associated with upgrades made to your home.
3. Equity: When you pay a landlord, it’s money down the drain. When you pay on a mortgage, you are paying towards owning a piece of something. You may still owe $100,000, but perhaps the home is worth $200,000. This means you have $100,000 worth of equity you’ve built up over time.
4. Budgeting: Unless you live in a rent-controlled apartment, then each lease renewal could mean a jump in prices. A fixed-rate mortgage, however, means your monthly payment is the same amount for the life of the loan. A $1,000 a month payment on a 30-year mortgage is the same now as it will be in 30 years!
5. Security: When you own, it’s yours. You can paint, improve, and decorate. Most homeowners are in neighborhoods with other homeowners, meaning more time to build relationships and friendships. Recent studies have also shown that homeowners rank themselves as healthier than their renter counterparts.

Should you rent or buy? Each person or couple need to do their home work, figure out the advantages and disadvantages as they pertain to them. Look at the long-term goals and stability of your jobs. Research rental fees and availability and compare to the cost of owning a home. Location is important in both decisions but look into the resale of a home and getting out of a lease.

Experts have recommended for years that if you’re planning on staying put for 5+ years, buying becomes an increasingly better deal. You have time to recoup any extra expenses found in closing costs and are now making an investment in your future through home price appreciation. Home affordability is at near record highs. Now is a good time to run the numbers and see if buying makes good financial sense. If it does, then you’re in store for a wealth of benefits that only homeowners can experience.

Parade of Homes is Saturday and Sunday from 12-5 PM for both Counties with Wake County including Friday as part of the preview.  This opportunity gives those interested the ability to view, ask questions, get ideas, learn about new features and amenities and possibly buy a new home.

This year, The Jim Allen Group has 33 entries in both Parades and covers 14 different neighborhoods. Its a big undertaking making sure all 33 homes are staffed with real estate professionals ready to answer questions and provide viewers with details and information about a specific property or neighborhood. But, its also a time for us to share beautiful homes built by some of the areas finest custom home builders. We have over 30 neighborhoods that we market and even more builders whom we are honored to call our partners. These builders take a house and make it a home and make dreams come true for many people.

In the coming weeks, each Parade home will be judged to determine category winners. We at The Jim Allen Group are excited about the potential winners that are among the many homes we represent and anticipate some big winners! As soon as the winners are announced, I will be sure and update our site.

I hope you take some time to visit some of the properties we represent during the Parade of Homes and see for yourself “What makes a House a Home.” You never know, You just might end up buying a New Home.