This month, we’ve had our first Wolfspeed employee but a property from us. Vinfast, Toyota Battery and Wolfspeed have already broken ground. Vinfast, Toyota Battery and Wolfspeed have already broken ground. We’re already seeing a rise in prices.
There’s a lot of speculation, especially with properties that have a lot of commercial or developmental potential. A lot of investors are coming in and buying too. Three years ago, you could by a home for 60, 70 or $85,000, but now they’re $200,000. In the Pittsboro area, it’s very difficult to find a house under $400,000. We’re also seeing a ton of rezoning zoning applications in the Moncure area which is going to be a big industrial complex. Fed Ex and Thin fast are already there, and there will be ancillary support.
The market might be softening for homes in the f$350 to $750 residential market, but we recently sold a really nice home on a large piece of land for a record setting $5 million dollar home. I listed two large acreage properties last week, and two of them turned out to be multiple offer situations.
You might hear of good deals for properties because of the economy, but I haven’t seen it in this area yet. There are no bargains now, but there are fair prices. There are opportunities that won’t be here five years from now.
