How real estate and finances mix in RAL’s 2022 market
The biggest real estate stressors in RAL
Presented by a RALtoday Partner
Opendoor’s first-ever Financial Wellness Study looks at how people are tackling their finances and homeownership, along with the stress it can cause. | Photo provided by Opendoor
Financial wellness and homeownership are two sides of the same coin. A recent study from Opendoor found that 56% of current + prospective homeowners think about their finances for at least 30 minutes every day. (We feel that. 💸)
Homeownership is a major milestone of financial security that many aspire to — but it can be just as stressful financially as other ultimate goals like saving for retirement and saving for a child’s education.
Fast facts:
37% of prospective homebuyers believe that homeownership will improve their quality of life.
More than 78% are considering buying their first home in the next five years.
53% want to buy within the next two years.
If you’re a part of these percentages, join us as we take a look at how Raleighites are tackling their finances + homeownership and how it affects their stress levels. (Read: You’re not alone if you’re sweating over downpayments.)
Opendoor can buy a home for you and hold it while you secure your financing.
Photo provided by Opendoor
RAL real estate stressors by the numbers
The top homebuying stressors are:
Taking on additional debt (74%)
The burden of saving enough funds to complete the transaction (67%)
Fear of future monthly payments (53%)
Millennials feel added stress because of financial guilt. 16% of respondents noted that they feel stress while home buying due to feeling guilt from receiving financial support from family members.
Millennials are more likely to buy a home as an individual compared to Gen Xers and Boomers — adding to millennials’ existing stress levels. On the flip side, they’re concerned about societal stigmas around being a single homeowner.
Opendoor aims to remove the hassles that come with traditional real estate sales to create a stress-free experience. Get a free offer on your home or browse available RAL listings.*
Blue Man Group | Tue., Oct. 25 | 7:30 p.m. | Duke Energy Center for the Performing Arts, 2 E South St, Raleigh | $41.50 - $86.50 | This performance will feature the group’s signature drumming + quirky comedy.
The Surprising Story of the Three Little Pigs | Tue., Oct. 25 - Sun., Oct. 30 | 4 p.m. | Raleigh Little Theatre, 301 Pogue Street, Raleigh | See this fairy tale come to life during this outdoor production.
Wednesday, October 26
Yoga in the Park | Wed., Oct. 26 | 6 p.m. | Dix Park, 1030 Richardson Dr, Raleigh | Free | Enjoy the nature and tranquility of the park with a yoga class to increase strength and flexibility.
Thursday, October 27
Dark Raleigh Walking Tour | Thu., Oct. 27 | 5:30 p.m. | City of Raleigh Museum, 220 Fayetteville Street, Raleigh | $20.00 | This interactive tour highlights Raleigh statesmen, leaders, and residents who had a dark and troubled past.
Pumpkin Flotilla | Thu., Oct. 27 | 4-6 p.m. | Bond Park Boathouse, 801 High House Road, Cary | Free | Carved pumpkins will set sail across the Bond Park Lake at twilight accompanied by local music, snacks, and Halloween activities.
Friday, October 28
Carolina Hurricanes vs. New York Islanders | Fri., Oct. 28 | 7 p.m. | PNC Arena, 1400 Edwards Mill Road, Raleigh | $32.00 - $267.00 | Watch the Canes take on the Islanders.
Saturday, October 29
Fall Fest | Sat., Oct. 29 | 2-6 p.m. | Brookside Bodega, 1000 Brookside Dr., Raleigh | Free | The Optimist + Brookside Bodega are teaming up to host a day of family fun including food trucks, music, trick-or-treating, and games.
We have amonthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.
Be the real game day MVP when you order Moe’s Meal Kits for your squad. | Photo provided by Moe’s Southwest Grill
Tacos aren’t just for Tuesdays — especially with State and UNC taking the field this weekend. Fuel up to cheer on your favorite team with Moe’s Meal Kits.
The meal kit feeds up to six people and comes in three customizable options — taco, nacho + fajita(all including queso).
Oh, and when you order through the Moe’s Rewards app, you earn points on your purchases. Pro tip: Download the Moe’s app and use code MEALKITS22 for $5 off any meal kit for an unbeatable deal.*
Real estate developer Trammell Crow Residential purchased35.77 vacant acres on Hammond Center Drive near the future Bus Rapid Transit station. Site plans include a mixed-use development with 348 multifamily units. (Triangle Business Journal)
Open
YogaSix at Bloc[83] is celebrating its grand opening from Fri., Nov. 4 through Sun., Nov. 6. Activities will include free classes, a block party, giveaways, retail specials, and more. Stay tuned for upcoming information. 🎉
Cause
DRA Ambassadors are hosting Project Reach Out Day of Care in Moore Square on Fri., Nov. 4. The eventwill connect people who are experiencing or at risk of homelessness with social services and community organizations. If your organization is interested in getting involved, fill out this form.
Network
Don’t miss this month’s CreativeMornings RDU speaker Liz Kelly on Fri., Oct. 28. Liz specializes in pottery making and is a graduate from the NC State College of Design. Register for free. 🎤
Job
Due to staffing shortages, The BBQ Lab in North Hills has postponed its opening — no new date has been announced. Open positions include cashier, cook, dishwasher, maintenance, and managerial staff.Apply here.
Number
960,172. That’s how many people attended the NC State Fair this year over its 11-day run. The attendance numbers exceeded records from 2019 (938,029) and 2021 (824,328). 🎡 (CBS17)
Shop
This Sun., Oct. 30 is the last Moore Square Market of the season. Enjoy the fall weather and shop local produce and artisan goods from 10 a.m.-2 p.m.
Here’s a friendly reminder that we’re less than a week out from Halloween. Have you bought your costume yet? What about the candy? And if you wanna be the coolest parent or grandparent on the block — while increasing your trick-or-treater’s nighttime visibility — grab this affordable 100-pack of glow sticks.*
Seasonal
Start raking, Raleigh. Loose leaf collectionwill begin on Mon., Nov. 14. Piles should be placed near the curb (not on the street). Check your collection schedule. 🍂
DYK
Did you know you can support RALtoday through our retail store? We’re celebrating Raleigh’s unique landmarks and history with our online shop. Show off your Raleigh pride with stickers, hoodies, mugs, and more. No need to wait. Start shopping.
Wellness
Missing your summer glow? Enter: Oak City Sunless, which offers natural-looking spray tans done in the comfort of your home. Bonus: You can glow without risking the health of your skin. Book an appointment. ☀️ *
Real Estate
Opendoor + Zillow are joining forces. The new multi-year partnership will allow Zillow sellers to request an Opendoor offer. Customers will be able to use Zillow’s service as a standalone offering or package it with other Zillow home shopping services (read: financing, closing or agent selection). 🏡 *
Content marked with an * is brought to you by our advertising partners and helps make this newsletter free.
Development
Raleigh developments we’re watching 👀
Raleigh developments we’re watching
The front facade of The Raleigh Depot will be preserved. | Photo by RALtoday
With Raleigh constantly growing and undertaking new developments, our skyline is about to see major changes in the next few years. ICYMI, here are some developments we’re watching:
Holiday Inn | Tidal Real Estate plans to open a 20-story mixed-use developmentand hotel in place of the circular building in late 2025.
Char-Grill | Plans include tearing down the original Char-Grill and reincorporating it into the new mixed-use building.
Seaboard Station | City Council approved zoning conditions to preserve at least 50% of the building’s facadeor to allow a third party to relocate the building — if neither of the two options are executed, construction will be limited to seven stories.
The Raleigh Depot | Two 20-story mixed-use developments were approved to be built at 327 W. Davie St. + 320 W. Cabarrus St., with the building’s front facade to be preserved.
What Raleigh developments are you curious about? Let us know.
THE WRAP
Today’s issue was written by Cat.
Editor’s pick: I’ve been procrastinating putting together my Halloween costume. I’m not worried because I plan on stopping by The Tilted Stage Costume Boutique to pull together something great. The costume rental shop has everything from colonial dresses fit for a queen to Mickey Mousemascot rentals. Check them out at 6602-6 Glenwood Ave.
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