The rental market in North Carolina is currently experiencing dynamic shifts, influenced by various factors such as population growth, economic development, and regulatory changes. Below, Caron Jones of Burlington, North Carolina provides an in-depth analysis of the current trends, regulations, and investment opportunities for both landlords and tenants in this state.

Current Rental Market Trends

The state of North Carolina has emerged as a beacon for job seekers and professionals alike, leading to a notable surge in local population growth, particularly in urban hubs such as Charlotte, Raleigh, and Durham. This influx has spurred a heightened demand for rental properties, ushering in a more competitive market dynamic.

Additionally, urban centers continue to draw in young professionals seeking career opportunities, while suburban areas are becoming increasingly attractive for families and individuals looking for a quieter, more residential environment.

While North Carolina generally offers a more affordable cost of living compared to other states, some urban areas have experienced rising housing costs. This has prompted tenants to seek more budget-friendly options, while landlords explore opportunities for affordable housing solutions.

Moreover, the rise of flexible work arrangements, accelerated by the COVID-19 pandemic, has led to a surge in demand for short-term rentals, co-living spaces, and furnished apartments, offering a variety of options for both tenants and landlords while providing flexibility for work-from-home and hybrid workers.

Regulations and Compliance

Understanding the legal framework governing landlord-tenant relationships is crucial for both parties. North Carolina has specific laws addressing areas like security deposits, lease agreements, eviction procedures, and maintenance responsibilities.

·         Security Deposits: North Carolina law provides clear guidelines regarding the collection, handling, and return of security deposits. Landlords are typically permitted to collect a security deposit from tenants, which serves as a safeguard against potential damages to the property. The law dictates the maximum allowable amount for such deposits as well as the specific conditions under which deductions can be made. ·         Lease Agreements: The creation and execution of a lease agreement represents a foundational step in any landlord-tenant relationship. North Carolina law provides parameters for what should be included in a lease agreement, such as the duration of the lease, rent payment terms, maintenance responsibilities, and any specific provisions unique to the property. ·         Eviction Procedures: In unfortunate situations where eviction becomes necessary, North Carolina outlines the legal process that must be followed. This includes providing tenants with proper notice and adhering to specific timelines. By familiarizing themselves with these legal provisions, both landlords and tenants can navigate their relationship with confidence, knowing their rights and obligations are protected by the law. This understanding forms the basis for a transparent and cooperative landlord-tenant dynamic, ultimately fostering a positive living experience for all parties involved.Furthermore, compliance with federal fair housing laws is mandatory for landlords. This act prohibits discrimination based on race, color, religion, sex, familial status, national origin, or disability, ensuring equal access to housing opportunities for all.

Investment Opportunities

 With the steady demand for rental properties in North Carolina, adopting a buy-and-hold strategy can be a lucrative investment option. This approach involves purchasing properties with the intention of renting them out for consistent, long-term income.The popularity of platforms like Airbnb and VRBO has opened up opportunities for such short-term rentals, particularly in tourist-heavy areas. However, landlords must remain mindful of local regulations governing short-term rentals.

Conclusion

 The North Carolina rental market is a dynamic landscape with countless opportunities for both landlords and tenants. Staying informed about current market trends, understanding legal regulations, and exploring various investment strategies are key to being successful in this evolving market. Whether you’re a seasoned landlord or a prospective tenant, being well-informed and seeking guidance from a reputable real estate agent will enable you to make better informed decisions that align with your goals and aspirations.

Spectacular lake communities are abundant in North Carolina.

With its diverse geography, natural beauty, and vibrant community, living on one of this state’s waterfront properties is indeed a dream come true for many. Beyond its aesthetic appeal, lakefront living offers a wide range of recreational opportunities – swimming, boating, kayaking, fishing, sailing, and so much more.

On top of that, North Carolina’s lake communities have quite high investment potential. The ideal settings and premium locations of these assets often translate into strong property values as the demand for waterfront properties continues to rise.

Caron Jones of Burlington, North Carolina discusses the most popular lakeside communities in North Carolina and what they have to offer. 

Waterfront Paradise: The Top 5 Lakeside Communities in North Carolina

The Tar Heel State is home to more than 50 lakes, making it a haven for waterfront neighborhoods. The following are considered to be North Carolina’s best lakeside communities:

Bear Lake Reserve (Tuckasegee, NC)

With both tranquil and rugged settings, the Bear Lake Reserve is a resort community located in the western part of the state. 

Surrounded by beautiful mountain scenery, this 2,100-acre community offers an extensive array of real estate options. From luxurious cabins overlooking the neighborhood’s private 500-acre lake to cozy mountain lodges, Bear Lake Reserve is an idyllic destination for those interested in lakefront living.

The community club offers various amenities such as swimming pools, restaurants, tennis courts, parks, hiking trails, and a fitness center among others.

Connestee Falls (Brevard, NC)

Nestled in the Blue Ridge Mountains, Connestee Falls is an attractive 3,800-acre gated lake community for nature lovers. 

Half of the land is dedicated to conservation areas such as waterfalls, lakes, hiking trails, and woodlands. Amenities here include a full-service clubhouse, swimming pools, tennis courts, fitness centers, restaurants, parks, and an 18-hole golf course; all of which are owned and operated by Connestee Falls residents.

SailView (Denver, NC)

SailView is a beautiful lakeside community situated on the tranquil west side of Lake Norman, North Carolina’s largest man-made lake. 

It features about half an acre of homes and luxury residences, an abundance of resort-like amenities, and various recreational activities for both residents and visitors. These include a competition-sized swimming pool, basketball, tennis, volleyball courts, and a large family park with playgrounds, a gazebo, and picnic grounds.

SailView also houses a marina that accommodates boats of all sizes.

Rivers Edge (Shallotte, NC)

The Rivers Edge Golf Club and Plantation is a lakeside community that houses plenty of luxurious amenities from a private beach club to the most popular golf courses in the state.

This waterfront neighborhood features indoor and outdoor pools and hot tubs, tennis and pickleball courts, a fitness center, walking trails, and a stunning freshwater lake where fishing, kayaking, and canoeing can be enjoyed.

Riverlights (Wilmington, NC)

With a charming mix of natural beauty and the energy of a city, Riverlights is a one-of-a-kind lake community situated along the Cape Fear River. 

Riverlights features a 38-acre freshwater lake that’s perfect for all kinds of water activities. Visitors and residents can enjoy the neighborhood’s numerous parks, the Marina Village complete with shops and restaurants, hiking trails, and more.

North Carolina’s lakeside communities offer the perfect mixture of nature, recreational opportunities, and investment potential. Anyone who dreams of settling into a waterfront neighborhood will surely find their paradise in North Carolina.

Recently, CNBC named North Carolina as the top state for business. After all, the Tar Heel State has long been bustling – from being the capital of aviation to the birthplace of Krispy Kreme, NC has everything.

That’s why it’s no surprise that hundreds of Americans choose North Carolina as the place to start their family. Caron Jones of Burlington, North Carolina guides future homeowners on how to purchase their first house in NC.

Prepare the Down Payment

Homes in North Carolina are relatively affordable. In a Housebuyer.com census, NC ranks as the 22nd most affordable state to buy a home. They added that the average price for a house is $172,500.

However, to easily afford a house in NC, several mortgage lenders allow the buyer to pay for 20% of the house cost as a part of the down payment. There are also various programs and government-backed loan options – such as a VA loan or FHA loan.

Furthermore, The North Carolina Housing Finance Agency (NCHFA) offers the NC Home Advantage Mortgage program for those eligible for a loan – such as veterans and first-time NC home buyers.

NCHFA has the complete information on its website.

Once these are all set, hopeful homeowners can start looking for a real estate agent.

Find a Real Estate Agent or Realtor

Despite the accessibility of real estate websites, realtors are still vital in helping would-be homeowners find the best property for them – they know North Carolina cities and neighborhoods, as well as how to secure the best deals and provide the most favorable contracts for their clients.

To find the best realtor or agent, look for someone with years of experience – especially experience with first timers. Once the realtor is secured, it’s time for the best part: house hunting.

Start House Hunting

North Carolina has many diverse towns and districts. For those who wish to have easy access to the business district, there are a plethora of condominiums and apartments in Charlotte. For families with kids that prefer to be close to schools, Greensboro is a wonderful option.

And for those who wish to retire in North Carolina, Cary has plenty of suburbs to choose from.

However, because the idea of the perfect home seems like a dream, it’s important to uncover each and every potential hidden problem.

Hire an Inspector

The importance of hiring a home inspector cannot be understated.

A licensed inspector can assess the presence of any hazards, such as if the HVAC system is releasing carbon monoxide, the quality of the roof and foundation, and the status of the plumbing and electrical systems.

Fortunately, inspections typically only last a few days. Once they’re done, all that’s left to do is close on the deal.

Secure the DealThe day has finally arrived – making settlement on your first home. On this day, title companies will provide the new homeowners with a few documents. These consist of the mortgage promissory note, property deed, disclosure statement, and loan-related documents.Once this paperwork is completed, the homeowners can now pay the fees – such as the mortgage lending service charge, title insurance, and other miscellaneous expenses and closing costs.ConclusionThe Old North State is truly one of the best places to live – it has picturesque cityscapes, majestic mountains, and spectacular beaches.On top of that, the state also has affordable housing and accommodating mortgage lenders.

With its Southern hospitality and laid-back lifestyle, North Carolina is an ideal place to live for many. Its beautiful beaches and mountain regions are just a few of the state’s attractive features, that’s why it’s no surprise that it’s one of the top destinations in the country for those looking to relocate.

It’s a good place to be when you’re a real estate agent.

However, real estate listings and sales are down statewide compared to last year, as per the latest report from NC Realtors. It’s most likely just a reflection of how strong sales were in 2022, and experts believe it’s not a major cause for concern.

Still, Caron Jones of Burlington North Carolina says that real estate professionals constantly need to find ways to adapt to ever-changing trends and market shifts in order to better serve sellers and potential buyers. Below are some valuable tips to stay on top of the real estate game, even while the market is down.

Expert Insights and Best Practices

Keep Up with Technology

Modern agents need modern tools.

In today’s fast-paced real estate landscape, it is essential for agents and brokers to remain competitive. The introduction of cutting-edge technologies to the industry has significantly changed the way business is conducted in recent years. Staying on top of the latest technology trends not only streamlines work processes, but also enhances client experiences.

Here are a few tools worth trying out:

• Dotloop: A transaction management software specifically designed for real estate professionals. It allows both agents and clients to efficiently edit, sign, share, and store documents anywhere at any time.
• Buffer: Social media presence is a must for anyone working in the housing market. It’s the fastest way to build one’s following and grow their business. Buffer allows agents to plan, manage, and track their social media accounts and marketing without draining their time.
• Prezi: A presentation software that allows agents to create simple but memorable presentations. This software is user-friendly with various modern and aesthetic templates that are certain to impress clients and increase the chances of closing a deal!

Whether it’s for online marketing, digital document signing, property searches, or virtual tours, using technology helps agents save time and increase efficiency in their workflows. Offering modern solutions to their clients allows them to stay ahead of the game.

Stay Tuned with Traditional Practices

As important as keeping up with modern trends is, it’s still essential for real estate professionals to continue with traditional practices that are proven effective in this age-old industry. One of these practices is print marketing.

It’s important to invest in a well-designed business card, yard signs, buyer and seller guides, and other essential marketing collateral pieces. High-quality brochures and flyers are also a must to hand out during open houses and networking events.

Be Present in the Community

For real estate professionals in North Carolina, the key to effective marketing is to localize it. The state’s industry is competitive, so community presence is a great way to stand out from other agents and brokers.

A good way to start is to participate in local charity events and causes. Not only is it a good chance to serve the community, but it’s also an opportunity to network and meet like-minded people.

Real estate professionals can gain a competitive edge by modernizing their strategies while staying rooted in traditional practices. 

The fusion of a technology-driven approach with time-tested methods allows them to provide clients with better informed decisions and seamless experiences while capitalizing on the boundless opportunities that the real estate sector of North Carolina has to offer.

According to Airbnb’s data, North Carolina hosts earned $75 million in 2021, making it the 6th most popular area in terms of hosts on the service. In 2022, the typical rural NC host earned over $14,000. Forbes notes that the more urban areas of the state boast “excellent hospitals, universities, and a competitive cost of living.” 

Considering the demand for accommodation, the Tar Heel State is a remarkably attractive place to buy a second home for eventual retirement, or even a vacation home for enjoying the coastal lifestyle and cool summers in.

Below, Caron Jones of Burlington North Carolina examines some of the best locations North Carolina.

Brevard

Known as the “Land of Waterfalls,” Brevard is a nature lovers’ sanctuary. Outdoor enthusiasts will fall in love with the various national forests and state parks in this region, each offering a range of recreational activities to make it the perfect vacation haven.

Asheville

If a home among the mountains sounds appealing, Asheville is an excellent option. With the Blue Ridge Mountains in the background, Asheville entices prospective homeowners with a thriving arts and cultural scene with an overall laid-back atmosphere.

Outer Banks

A top choice for many vacation home buyers, North Carolina’s most popular vacation spot wows every tourist with its stunning coastline, pristine beaches, and cozy beach towns. This charming area offers a wide range of properties from cottages to oceanfront estates, catering to beach lovers of all budgets.

Greenville

If property prices at Outer Banks seem too high, only two hours away is Greenville, a college town for East Carolina University students. Greenville is widely considered the thriving cultural, educational, economic, and medical hub of Eastern North Carolina.

Wilmington

The coastal gem of Wilmington is situated on the southeastern coast. The moderate climate, beautiful beaches, and historic charm make it desirable for both vacationers and those looking for something more permanent. While it is more affordable than Outer Banks, it still sports pristine beaches just like Wrightsville Beach and Oak Island for perfect fun in the sun. 

This seaport city is only a few hours from most of the major cities in North Carolina, allowing for easy and convenient access to big city amenities. 

Banner Elk

Situated between two world-class ski resorts atop the Blue Ridge Mountains, Banner Elk is a town with less than 1,500 residents and remains one of the top destinations for foodies in North Carolina. With its myriad of available outdoor activities, wineries, and restaurants, a home by the Elk River is a wonderful year round destination for breathtaking mountain views.

Raleigh

The state capital and part of the Research Triangle Park (Raleigh–Durham–Fayetteville), Raleigh has a high quality of life with ample high-paying employment opportunities. As one of North Carolina’s fastest growing cities, accompanied by a strong educational presence, Raleigh is especially attractive to young professionals and families, which also makes it appealing for real estate investment.

North Carolina is a Blank Canvas

Be it coastal living, mountain serenity, or a bustling city, North Carolina offerings can satisfy even the pickiest of preferences. And with the help of a trusted professional, investing in North Carolina real estate would surely be a fruitful endeavor.