5 for Friday - Edition 329 (6/13/2025)
5 Local Real Estate Stories and Mortgage News. Every Friday.
Friends,
It’s Friday the 13th and also the last day of school for kids in Wake County. Mortgage rates are also the lowest they’ve been in a month, with potential to go even lower.
As you’ve probably heard, the “Wake County real estate market remains steady; some zip codes see flood of inventory.” It feels like we’re in a buyer’s market, but a dip in rates could change that!
If you have any questions or need a Pre-Approval this weekend, let me know!
Best,
Pat Price | Producing Market Leader
Movement Mortgage
919-260-8013 (Call / Text)
patprice.com (Apply)
calendly.com/patprice (Schedule a Call)
NMLS 103601
Movement Mortgage President's Club + Scotsman Guide Top 1% Lender
Quote of the Day
“Summer means happy times and good sunshine. It means going to the beach, going to Disneyland, having fun.”
- Brian Wilson RIP
Mortgage Minute
Lowest Mortgage Rates in More Than a Month - The data has created some buzz regarding the Fed's rate cut outlook. Indeed, traders are now betting on a higher likelihood of an additional cut by the end of the year. But it's important to understand that there is still essentially no chance that the Fed cuts rates at next week's meeting.
Five for Friday
Teardown to put 27 townhomes next to Raleigh's Historic Oakwood - A teardown project on the edge of Raleigh's Historic Oakwood neighborhood will replace century-old houses with more than 25 townhomes. The City of Raleigh has approved a site plan for 27 townhomes on Wake Forest Road at Delway Street between Peace University and Mordecai Historic Park. Durham developer Elmwood Development is developing the project, called Oakwood Townhomes.
Condo development aims for key demographic - A condominium project aimed at providing a lower entry point for first-time homebuyers is coming to Durham. EB Capital Partners has started presales for its Ellis at Cornwallis condos near where W. Cornwallis Road meets Highway 501 in the Durham-Chapel Hill corridor. The condos will start at $295,000, hitting each price point up to $700,000.
What’s the best new NC modern home in 2025? Take a look and have your say - The competition, now in its 13th year, has a total of 18 entries across the state, from Asheville to Wilmington, including seven within 50 miles of Raleigh. Online public voting is now open and ends July 1. The Wimbleton House in Raleigh is among the entries for the 2025 George Matsumoto Prize, the state’s highest honor exclusively for new Modernist residential architecture.
Mansion deemed architectural treasure in Chapel Hill hits market for $5.4M - A uniquely designed estate in Chapel Hill just hit the market for more than $5 million. Sitting on nearly 10 acres next to Cedar Falls Park, the home at 812 Kenmore Road was designed and built by architect Sumner Winn in 1962. It is listed at $5.4 million and has five bedrooms and seven bathrooms.
Disney community officially gets the green light - One of the biggest residential projects in North Carolina took a major step forward this week. The Pittsboro Board of Commissioners voted Monday to approve a preliminary plat for the first phase of Asteria, a proposed community by Storyliving by Disney that will cover 1,500 acres and include more than 4,000 residential units with a mix of multifamily and single-family homes.
*If an article is locked and you’d like a PDF copy, let me know and I’ll send your way!