Raleigh's hot housing market drives desperate buyers and sellers to social media

Andrea Blanford Image
Wednesday, April 27, 2022
Raleigh housing market drives buyers and sellers to social media
Raleigh's white hot housing market has some families turning to social media to buy and sell.

RALEIGH, N.C. (WTVD) -- Raleigh's white-hot housing market has some families turning to social media to buy and sell.

Sophia Bahhur lives in Garner with her family and has been on the hunt for a home in north Raleigh for the last year and a half.

Even though she's working with a Realtor, she recently posted to a private Facebook group hoping to get lucky.

"After 18 months of looking at homes in 27614 under $1 (million), seeing multiple homes and not finding the one is a little disheartening," she wrote.

Meantime, Nia Canady posted to the same Facebook group about the house she's trying to sell in Raleigh's Beacon Village.

The two-bedroom, two-bathroom 912-square-foot house doesn't meet Bahhur's criteria, but perhaps it's for someone else.

"There's not enough houses on the market for people and I know so many people struggling to buy a home and can't get one," said Canady. "They've put in 15 offers, still haven't got a house."

Hanadee Ali, Bahhur's Realtor with Movil Realty, offered her top five pointers for all house hunters in this market:

1.Make sure your credit score is at least 620 or above. 740 generally gets you the best interest rates.

2. Get your finances in order and get pre-qualified.

3. STAY QUALIFIED. That means no missed payments, no big purchases, no account inquiries.

4. When house hunting, be realistic to budget and location. It's becoming where if you want to live here you may have to sacrifice a few things. Generally, every property investment is a good investment and the first one doesn't have to be your dream home but it will help you build equity.

5. When making an offer make it strong by having an agent check the comps and having strong due diligence. There is a lot of hesitation with a lot of money upfront and when you get an offer accepted on a house you like, no matter what the repairs may be in the home, the home is still worth it, she advises.

Canady is hoping to get an offer of $280,000 or more by the end of the week and that her private listing will give buyers a leg up before they give up on their search.

"I feel like God's in the process," she said. "He's going to work it out and I want to be a blessing to somebody."