The Lowdown on Midtown!
Midtown is HOT HOT HOT! And what is the hottest neighborhood in Midtown right now...
Pine Valley is a great neighborhood made up of mostly brick ranches that spans across College Road. The Pine Valley Country Club has become the hottest ticket in town, especially some of their membership categories that closed this month.
Why is Pine Valley seeing so many houses sold and so quickly? Partially the location of being close to the new Pointe at Barclay and the price point is closer to the average home price, which was $274,150 in May of this year. Here are more stats from our Cape Fear Realtors website.
The second runner up for hottest area is the Forest Hills/Beaumont/Brookwood area. If you don’t live in these neighborhoods, you may not know where one ends and another begins, but this area saw lots of activity in May for a total of 9 solds. More on that in July!
In the market as a whole, we are seeing double the amount of multiple offers from last year. At our firm we have seen over-asking, cash offers, where the buyers have not even seen the homes in person! This is creating a level of volatility in the market and because of this we are using the strategy of writing back-up offers for our buyer clients so they don’t miss out. In short, it is intense out there!
It isn’t just hype; now is the best time to sell in a decade, but here are some tips for any of our Midtown sellers:
1- Many areas of Midtown are especially wet with poor drainage so you MUST get your crawlspace fixed correctly. Even if your “uncle” went down there a year ago and said it was dry and fine, you still could be in a for a huge, expensive and deal breaking surprise. It isn’t the sexiest thing to do, but it could be difference between closing the deal or losing it.
2- Anecdotally we think less than 15% of buyers are interested in renovating houses. So if your kitchen or baths are in need of updating, you should do it now. I hear from sellers all the time “but don’t the new buyers want to pick it out…? .” The short answer is, “no!” Most buyers want to move into a home and start enjoying it right away, not begin renovations like HGTV would have you believe. Not sure what to colors and materials to choose? lf you work with us we send out our home stylist to help you get your home as beautiful and neutral to appeal to the widest range of buyers.
I’ll share more tips next month in my Lowdown on Midtown.
And now for some fun stuff…
As featured in our video, Duck Donuts is now open for business along with Stone Theaters at the Pointe at Barclay. This month we will also see the opening of Zocalo Street Food and Tequila...rounding out the perfect dinner and a movie date night.
Or if you are looking for a Saturday morning fun, how about a delicious croissant from Far From France (they are amazing), the new french bakery and gift shop and then a stroll around Halyburton Park’s shady walking trails?
The Pointe will also eventually include, a Chop’s Deli location so you can chow down on their mac and cheese of the day. YUM!
Our friends at Cameron Management confirmed to the Star News a few other official tenants at the development: Pizzeria Il Forno, Tavern on 17th Street, Orange Theory Fitness, Sports Clips, Intracoastal Realty, Nori Asian Fusion, Which Wich Sandwiches, I Love Juice Bar, Waxing the City and a nail salon.
We can't wait to enjoy these new hotspots all summer long! Did we forget any of your favorite Midtown places? Be sure to let us know!
For those of you that may have missed it, check out our first Midtown video below!