02 Sep “This really just might be the best time to buy.”
“This really just might be
the best time to buy.”
Scott Dixon is a partner in Beacon Street and the project manager for The Wade. Here he shares his thoughts on the current real estate market in the Triangle, and the buyers that The Wade was designed for.
ON BRINGING SOMETHING NEW TO THE MARKET
With The Wade we were really looking to fill an underserved need. It’s something you find in larger cities, but really doesn’t exist in Raleigh: boutique scale, classically designed, quality construction, and located in neighborhoods people love.
ON KNOWING WHO YOU’RE BUILDING FOR
I’ve met with all of the prospective residents during the sales process. They’re at a point in their lives where they’re looking to “right size.” There’s a lot of things they liked about single-family living – like the walkability, the community – but the house itself wasn’t matching up with their other aspirations. That was the niche we were able to fill: the freedom of a fresh start.
ON REAL ESTATE IN “THE NEW NORMAL”
The last few months have been a challenge for everybody. But real estate has more than bounced back. Before the pandemic, supply was tight and interest rates were low. That’s still true now, except rates are even lower. Forbes is saying that the recovery is going to start in smaller, more dynamic markets – and both Raleigh and Durham are in their top-10 list. I saw in an article in the TBJ that homes sales in Wake County were actually up in July 2020 over 2019. We’re seeing that here, in fact. The pace of showings at The Wade has really picked up, and we’ve had six closings in just the past 10 weeks.
ON BUYING FOR VALUE
Housing supply in the Triangle is very tight. And you look at The Wade in particular, there’s nothing else like it – and there won’t be anytime soon. This is not the kind of project where you see one go up every six months. So with the few residences that are remaining, there’s a window of opportunity to buy something hard to find around here: brand new, ready to move into, in a quality, one-of-a-kind building. From an investment standpoint, buyers appreciate a unique sense of certainty and value for generations to come.
ON TAKING THE TIME TO THINK
Our buyers are making a very thoughtful purchase. It sounds cliché, but when the world stopped, everybody was forced to slow down and found themselves with time to really think. “Where are we in life? Are we spending our time the way we want?” If you haven’t taken that opportunity yet for that thoughtful process, now’s the time to do it.
ON SEEING AND BELIEVING
It’s a big decision. It’s normal to wonder about letting go of what you have for something new, and you want to be sure you’re making the right decision. So for us it’s important to be really open with buyers, to help them figure out if this is where they feel at home. Of course a visit can tell you a lot. Sometimes people come to The Wade, they’re not sure exactly what they’re looking for. And then we seen them have that “eureka!” moment. They couldn’t put it into words before, but once they see The Wade, they know: this is it.
Only 4 homes remain.
If you have not visited yet, arrange a tour today.