Friday, July 19, 2024
HomeFactsWake County Tax Foreclosures

Wake County Tax Foreclosures

Wake County Parks And Recreation

Despite 425% spike in Wake County home foreclosures, experts say not time to panic

There are a number of parks and recreation in Wake County. In fact, the Wake County real estate located near parks is naturally priced higher than the homes for sale that aren’t! Wake County is home to three state parks including Falls Lake, Umstead State, and Jordan Lake.

These areas are great spots to enjoy nature walks, jogs, and enjoy the peacefulness of mother nature. Jordan Lake is located near Apex and contains 45,000 + acres as well as being the home of bald eagles. Falls Lake and Umstead State are both located in northern Raleigh.

Buyer Resources

The data relating to real estate for sale on this web site comes in part from the Internet Data ExchangeTM Program of the Triangle MLS, Inc. of Cary. Real estate listings held by brokerage firms other than Raleigh Realty Inc are marked with the Internet Data Exchange TM logo or the Internet Data ExchangeTM thumbnail logo and detailed information about them includes the name of the listing firms.

Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database. Listing firm has attempted to offer accurate data, but the Information is Not Guaranteed and buyers are advised to confirm all items.

Builders Exclusion Details For Residential Property

Residential Property:

Excludes from taxation the increase in property value attributable to:

  • Subdivision of a parcel for future residential construction
  • Non-structural improvements for future residential construction
  • Construction of a new single-family home or duplex
  • To be eligible, the property must continue to be owned by a builder, must not be occupied by a tenant, and must not be used as a model home or for any other commercial purposes. Because the exclusion is aimed at new construction, renovations to an existing residence cannot qualify.

    The exclusion is limited to three years from the date the property was first subject to be listed by the builder. Remember that improvements must be on January 1, regardless of the stage of completion. If a property is improved in stages, each improvement might qualify for a separate exclusion based on its own listing date.

    How Do I Check For Tax Liens And How Do I Buy Tax Liens In Wake County Nc

    Wake County, NC, currently has 1,354 tax liens available as of October 2. Smart homebuyers and savvy investors looking for rich money-making opportunities buy tax-delinquent properties in Wake County, NC, at tax lien auctions or online distressed asset sales. These buyers bid for an interest rate on the taxes owed and the right to collect back that money from the property owner. The relatively high interest rates on these delinquent properties in Wake County, NC, make tax liens super attractive investments. If you are looking to buy a tax lien in Wake County, NC, then your search for amazing deals and independent wealth begins right here!

    We’ve got the most up-to-date tax delinquent properties for sale list in Grand Prairie, Texas, below:

    Page 1 – 501,354

    Tax foreclosed homes are available for pennies on the dollar – as much as 75 percent off full market price !

    Enter an address, city, state or zip code below to view super-saving listings near you:

    Be sure to act fast and be persistent because the best tax deals might disappear as soon as tomorrow. These one-in-a-lifetime real estate deals are that good.

    There are currently 1,354 red-hot tax lien listings in Wake County, NC.

    These tax foreclosed homes are available for pennies on the dollar – as much as 75 percent off full market price ! Enjoy the pride of homeownership for less than it costs to rent before it’s too late.

    Don’t Miss: Cedar Rapids Bankruptcy Lawyer

    Foreclosures In Wake County

    In 2017, Wake County had 2,626 foreclosure starts, according to the ATTOM data. And in 2018, there were 2,177.

    By 2019, the total fell to 1,794 total foreclosure starts, as home values increased and the number of homeowners in Wake County considered equity rich had increased, according to ATTOM.

    But then came the onset of the COVID-19 pandemic in March 2020, and with it, a moratorium on foreclosure activity.

    Not only did foreclosure activity slow, but the Triangles housing market skyrocketed even higher, as inventory dropped to historically low levels while buying demand intensified.

    In 2020, there were just 628 total foreclosure starts, and in 2021, even as the foreclosure moratorium came to an end, there were only 293 total foreclosure starts with 134 of those coming in the first eight months of the year.

    But now, though the first eight months of 2022, there have been 481 foreclosure starts in Wake County, with the 105 foreclosure starts in August the most in one month since there were 127 foreclosure starts in March 2020, the month where the COVID-19 pandemic swept across the United States and North Carolina.

    Total foreclosure starts in Wake County, January 2017 August 2022. Data: ATTOM Data Solutions. Chart: WRAL TechWire.

    Ways To Lower Your Property Taxes

    BEVERLY TRAN ®: December 2017

    To avoid falling delinquent on property taxes in the first place, consider looking into different ways you could make your taxes more affordable. For instance, before you fall behind in your taxes, you might:

    • meet the qualifications for a property tax abatement or
    • be able to challenge the assessed value of your home to reduce the amount of taxes you have to pay.

    Read Also: Can Bankruptcy Stop You From Getting A Job

    Buying Auction Properties In Wake County Nc

    • Raleigh Durham Chapel Hill, NC

    I have been researching the process of purchasing foreclosure properties at auction in Wake County, NC. I understand there is an initial auction “at the courthouse steps” in which the winner must have funds available immediately. As I understand it, the amount of funds available is 10% of the winning bid price. Then a 10-day upset bid process starts where the winning bid can be overtaken by a higher bid and each time a valid upset bid is placed the 10-day clock starts again.

    But I still have a bunch of questions I can not find the answer to online, that I was hoping someone in the BP universe might be able to guide me through. Things like

    – How to determine what encumbrances remain with the property that a winning bidder will have to pay.

    – Why even attend the initial auction if there is a 10-day upset bid process and how does one determine what properties are in that process

    – How legit are all those auction sites like auction.com. They say they are auctioning foreclosure properties but the requirement is for auctions to occur at court.

    – Is it permitted to contact the trustee of the property and negotiate a purchase prior to auction?

    You get the idea, someone that has been-there-done-that who is willing to share the details.

    Many thanks in advance.

    How To Get More Information

    If you want more information about property tax and redemption laws in North Carolina, consider talking to a foreclosure lawyer, tax lawyer, or real estate lawyer who has experience with property tax issues. To learn more about property taxes and other aspects of homeownership in general, get Nolo’s Essential Guide to Buying Your First Home by Ilona Bray, J.D., Attorney Ann O’Connell, and Marcia Stewart.

    Don’t Miss: Auction.com Real Estate

    Wake County Real Estate For Sale

    5,737 Properties Found.

    Residential

    MLS® #2477111

    Spectacular 5bd/4.5ba Luxury Transitional Home In North Raleigh. Mulit-generational Home W/1st Fl Primary Suite + 1st Fl Guest Suite . Gourmet Kitch W/ Island Bkfst Bar & Bkf…

    Residential

    MLS® #2477107

    This One Has It All! Absolutely Stunning 5 Bedroom + Bonus In Desirable Bella Casa. Dramatic 2 Story Foyer W/lovely Curved Staircase. Gourmet Kitchen W/quartz Countertops, Wall Oven, Tons Of Cabinets & Walk-in Pantry. Dining Room…

    Residential

    MLS® #2477106

    Don’t Miss This One! Spacious Four Bedroom – Four Full Bath Home On Over Two Acres. Feels Like You Are In The Country But At The Same Time Is Closet O Everything – Shopping, Dining, I540 And Hwy 55. Home Features Open Floor Plan, Gourmet Kitchen With Large …

    Residential

    MLS® #2477103

    Investor Or First-time Home Buyer, This Is A Great Deal In North Raleigh Location. This Rare End Unit Has A Private Fenced-in Backyard Ready To Enjoy. Balcony Off 2nd Story Bedroom. Kitchen With Eat In Bar And Pass-thru To Dining Area. Freshly Painted 2 Sto…

    Residential

    MLS® #2477091

    Newly Renovated Home On One Of The Largest Wooded Home Sites In The Community On 2.72 Acres. Home Features All New Windows, Doors And Trim, New Cabinets, Countertops, Dishwasher, Stove, And Refrigerator In The Kitchen, New Lvp Hardwood Floors Through Out. N…

    Residential

    MLS® #2477089

    Residential

    MLS® #2477087

    Residential

    MLS® #2477086

    Residential

    MLS® #2477081

    Residential

    MLS® #2477073

    Residential

    How To Redeem The Property After The Sale

    Wake County residents could face property tax hike as soon as tonight

    Under North Carolina law, you can pay the debt in fullâthat is, redeem the propertyâat any time before sale confirmation. .

    What Is an Upset Bid?

    Even after the sale takes place, another buyer can offer to buy the home by making a higher bid of at least 5% over the sale price, but no less than $750, than the purchaser at the sale. . This kind of bid is called an “upset bid.”

    The upset-bid period initially lasts for ten days after the commissioner files a report of the foreclosure sale. . If someone enters an upset bid during this time, the sale will stay open for another ten days. If someone enters a subsequent upset bid, the ten-day period starts again. Once ten days go by without an upset bid, the court will confirm the sale.

    Don’t Miss: B Stock Supply Reviews

    Wake County Nc Culture

    There are a number of reasons people love to purchase Wake County Real Estate and one of the areas biggest attractions is the culture. From the performing arts, to visual arts there is always something going on in Wake County that will attract people to the events!

    There are a number of theaters in Raleigh for musical performances, plays, and more. The large number of theaters makes Wake County a great destination for those who enjoy this type of entertainment, and fun. Between the musical concerts at The Walnut Creek Amphitheatre and The Duke Energy center for Performing Arts.

    Notice To Our Visitors

    Our site does not guarantee the availability of any property listed herein. The number of available foreclosure properties in our database varies with market conditions.

    Due to the federal moratorium on foreclosure evictions during the pandemic, our supply of foreclosure listings is currently low. Please consider looking at other types of properties available here on our website, such as short sales and pre-foreclosures. These types of properties can offer great opportunities for real estate investment.

    EMV:Buying Tips:

    You May Like: B& p Liquidation Pallets

    Wake County Early History Info

    In 1771 from the outer parts of Cumberland County, Johnston County, and Orange County, Wake county was formed. The original courthouse in Wake County was built at a village originally called Wake Coutyhouse, now known as Bloomsbury. Wake County lost a little area to Franklin County in 1787 and Durham County in 1881 as well as 1911.

    During the colonial period of North Carolina, the state capital of North Carolina was New Bern. During the Revolutionary War there was no state capital and the General Assembly would meet in various locations around NC. From 1789 to 1793 Fayetteville was the state capital until Raleigh became the permanent state capital in 1793.

    Interesting story how the committee selected the area to build the state capital site…

    Originally, the commission members favored land that was owned by Colonel John Hinton across the Neuse River went they were choosing a site to build the state capital. The night before the final vote took place, Joel Lane invited the committee to his home for an evening of food and spirits. The next day, the vote went in Lane’s favor. A lot of speculation here as to why the vote swayed!

    Lane named Wake County after Margaret Wake, the wife of Colonial William Tryon. Raleigh itself was named after Sir Walter Raleigh and established in 1792 on 1,000 acres that were purchased from Lane. Although Raleigh had never set foot in North Carolina he had sponsored the developments and therefore the city was named in his honor.

    Wake County Climate And Demographics

    Geek Realtor

    Wake County, NC enjoys a moderate climate and temperatures during the spring, fall and winter. Summers are HOT and come with high humidity. The highs in Winter typically are around the low 50s while the lows reach the mid to low 30s. This makes the Winter’s far more moderate than the one’s experienced in the northeast parts of the United States. Summer temps are typically upper 80s and low 90s.

    In 200 there was an average density of 755 people per square mile and 258,953 housing units in Wake County. There were 240,000+ households in Wake County and over 52% of them were married people living together, and 34% had children under the age of 18.

    The median household income for the Wake County area was $54,988 and the median income for families was $67,149.

    The racial makeup of Wake County, based on the census of 2000 statistics reported a makeup of 72% White, 19% Black or African American, less than 1% Native American, Under 4% Asian, just over 5% Hispanic or Latino of any race, and the rest were other races.

    Recommended Reading: How Does Bankruptcy Affect The Economy

    Real Estate Property Research Resources

    Prior to submitting a bid on real estate property available for sale by the City of Raleigh, it is important for the bidder to thoroughly research the property. The City of Raleigh makes no representations as to unforeseen encumbrances on the property or exact property boundaries. Properties are sold “as is.” It is up to the bidder to investigate the property for all liens, judgments, taxes, assessments, or other encumbrances that would attach to the property by the City of Raleigh).

    The City recommends that you consider retaining an attorney to do the research and provide you with a title opinion. It is also the responsibility of the bidder to verify the property with regard to size, zoning, development potential, structural and mechanical, plumbing integrity, etc., to the extent the bidder is satisfied and understands what is being acquired. The City of Raleigh is not responsible for the accuracy of any information provided from these links. The following links are for informational purposes only, and are provided to assist in the research of a property.

    The City recommends having a survey done to verify lot size.

    Civil liens and cases filed in the Clerk of Superior Court Office can be investigated on computer terminals currently located at the Wake County Register of Deeds Office or on the 11th and 12th floor of the Wake County Courthouse:

    • Special Proceedings
    • Estates Division
    Department:

    Wake County Nc Education

    Wake County is home to eight institutions including North Carolina State University, Meredith College, Campbell University, Peace College, Saint Augustine’s College, Shaw University, Wake Technical Community College, Southeastern Baptist Theological Seminary.

    The Wake county public school system is filled with some of the countries top schools. You can search Wake County Real Estate for sale by school here. This searching feature gives users a ton of flexibility when shopping homes for sale in Wake County because it allows you to choose a school to find a home.

    Wake County is the 17th largest public school system in the country with over 155,000 students, 27 high schools, 33 middle schools, 104 elementary schools, and 8 specialized schools. There are also

    nine charter schools, and 31 private schools located in Wake County, NC.

    Don’t Miss: Can You Get A Home Loan After Bankruptcy

    Wake County Real Estate Information

    On this page you will find all the Wake County Real Estate listings for sale with updated information every 15 minutes to ensure accuracy. Additionally, you can search Wake County Real Estate for sale by School District if you already have a school in mind, and would like to find homes in that district. Below you can begin your search and learn more about Wake County Real Estate:

    Wake County is a county found in North Carolina. With a population north of one million people, Wake County is the second most-populated county in NC. Raleigh, North Carolina’s state capital, sits at the head of Wake County with encompassing cities such as Durham, Chapel Hill, Cary. and surrounding areas.

    The region originated on the heels of the Research Triangle Park, anchored by the Triangle cities . Chapel Hill has long been regarded as the third point in the triangle as it was the third most populated city before Cary’s population greatly surpassed it. Today, the estimated population of Wake County is just over one million with the Raleigh-Durham-Cary area coming in at over two million. The Raleigh-Cary Metro is just over 1.1 million.

    Downtown Raleigh has been the hub of Wake County real estate, both commercial and residential. The densely populated area has some great neighborhoods that attracts a lot of different folks to the city. Neighborhoods like Glenwood South, Mordecai, Cameron Village, Oakwood and Hayes Barton are some of the best area’s to look at homes for sale in downtown Raleigh.

    If You Lose Your Home Due To Delinquent North Carolina Property Taxes You Usually Get A Short Amount Of Time To Get The Property Back By Redeeming It

    Wake County budget plan includes 1.5 cent property tax hike and pay raise for commissioners

    If you fail to pay your property taxes, the past-due amount becomes a lien on your home. This type of lien almost always has priority over other liens, including mortgages. Generally, when taxes remain unpaid, the taxing authority will eventually sell the lien , or sell the property itself in a tax sale. Though, in some places, a sale isn’t held instead, the taxing authority executes its lien by taking title to the home. State law then generally provides a procedure for the taxing authority to dispose of the property, usually by selling it. In other jurisdictions, the taxing authority uses a foreclosure process before holding a sale.

    After you become delinquent on your real property taxes in North Carolina, you might lose your home to tax foreclosure. The process will either be a mortgage-type foreclosure, which is similar to a judicial foreclosure, or an in rem tax foreclosure, which also goes through the court system. Eventually, your home will be sold to a new owner as a part of the foreclosure process. If you don’t stop the process by getting caught up on the delinquent amounts, you’ll get a short amount of time after a sale to reclaim the property by “redeeming” it.

    You May Like: Credit To Debt Ratio Calculator

    RELATED ARTICLES

    Popular Articles