Raleigh Real Estate Review

Spring has Sprung in the Triangle!

2011-03-21T11:07:00.005-04:00

First day of Spring was yesterday, yeah. I can see the grass getting greener already. March Madness in full swing, hope your team is doing well. Maybe it is the weather but showings on our listings are definitely higher. The biggest selling months of the year are April, May and June so as you can imagine, showings are are the rise... with most occuring between the $200-400,000 price ranges.

Most listings spend an average of 125 days on the market in the Triangle, a 15% increase from this time last year. However, homes sales are starting to show some improvement in the lower price ranges. In more popular areas, supply is down to a 2 month supply under $150,000 list prices, where the luxury market ($500,000+) is still excessive.

BUY OF THE WEEK - An Investment Opportunity!

Glenwood North Town Homes
FORECLOSURE @ $199,900

RES - Buyer Full
RES - All Photos

National Association of Realtors, New Home Buyer Stats

2010-01-09T15:23:00.000-05:00

In the last decade, a lot has changed in the real estate industry from how buyers go through the process to how prices have changed while some things haven’t changed like the median age of buyers, according to the National Association of Realtors. The following are new stats about the buying experience... if you are considering selling your home, keep these things in mind:

1999: 37% of buyers searched for a home online. 2009: 90% of buyers searched for a home online.

1999: median home value is $137,600. 2009: median home value is $172,600 (but not that some reports reflect that when accounting for inflation, the value hasn’t changed at all this decade).

1999: 82% of buyers purchased detached, single family homes. 2009: 78% of buyers purchased detached, single family homes.

1999: 46% of buyers choose suburban neighborhoods. 2009: 54% of buyers choose suburban neighborhoods.

1999: 68% of buyers were married couples. 2009: 60% of buyers are married couples.

1999 and 2009: the median age for buyers was 39.

1999 and 2009: “neighborhood quality, affordability, and convenience to work and school have consistently been top priorities.”

Overall the only major shift has been in the rise of online search which was predictable, but I’m personally a bit surprised at the drop in number of married couples. Which stats most strike you?

Search the Multiple Listing Service from YOUR cell phone with my new 'app'!

2010-01-09T15:19:00.000-05:00

Wish you could see home details while you are driving around looking at homes? NOW YOU CAN! With my Mobile MLS Search application you can search for any home in the area on your cell phone. I have just activated the service and would love for you to give me feedback on how it works for you!

Check out price, beds/baths, details, maps, even photos – all from the convenience of your cell phone, iPhone or BlackBerry. AND I’M JUST ONE CALL AWAY! Once you find a house you like, just hit the “Call To See” button on your phone and you’ll reach me directly to answer your questions. SEARCH PROPERTIES WHENEVER AND WHEREVER YOU WANT!

GET IT NOW - Send an SMS Text to 87778 with "Sara" in the body of the message and the 'app' will download to your cell phone.

Happy Holidays to you and yours!

Short Sales getting easier?

2010-01-09T15:13:00.000-05:00

Good Monday morning and WOW is it cold outside. New guidelines came out the end of last week from the US Treasury Department to make selling a home via the short sale approach easier. This could mean better buys for us all and easier sales if you happen to be in an unfortunate position.

To qualify under these new guidelines:
The property must be the home owner’s principal residence.

The home owner must be delinquent on the mortgage or close to defaulting (this is better than delinquent because usually once you are behind you only have 90 days...).

The loan must have been made before Jan. 1, 2009, and be for less than $729,750.

The borrowers’ total monthly mortgage payment must exceed 31 percent of their before-tax income.

Under the plan, borrowers will receive $1,500 from the government for selling homes for less than the amount of their mortgages. Mortgage-servicing companies will get $1,000 for each completed short sale. Second-mortgage holders can receive up to $3,000 of the sales proceeds in exchange for releasing their liens. Investors who hold the first mortgage can collect up to $1,000 from the government for allowing the payments. Borrowers who complete a short sale under the program must be "fully released" from future liability for the debt, according to the guidelines.

Source: Associated Press, J.W. Elphinstone (11/01/2009) and The Wall Street Journal, Ruth Simon (11/01/2009)

Easier Home Energy Tax Credits...

2010-01-09T15:09:00.001-05:00

I hope everyone enjoyed their Thanksgiving and visiting with family and friends... now it's time to prepare for the holidays.

If you need a motivator to do some home winterizing projects, the IRS recently sweetened the deal. The American Recovery and Reinvestment Act (Recovery Act), enacted earlier this year, expanded two home energy tax credits: the non-business energy property credit and the residential energy efficient property credit. That means you can perform energy-saving home improvements and reduce your 2009 tax hit.

The credit equals 30 percent of what you spend on eligible energy-saving improvements, up to a maximum tax credit of $1,500 for the combined 2009 and 2010 tax years. The IRS says that by spending as little as $5,000 before the end of this year on eligible upgrades, taxpayers can save as much as $1,500 on their federal tax return.

What's included? The cost of certain high-efficiency heating and air conditioning systems, water heaters and stoves that burn biomass all qualify, along with labor costs for installing these items. The cost of energy-efficient windows and skylights, energy-efficient doors, qualifying insulation and certain roofs also qualify for the credit, though the cost of installing these items does not count. Before making any investments, be sure to check with your accountant or the IRS to be certain that your upgrades qualify for the credit.

Some other low-cost home winterizing tips:
Use a programmable thermostat. When installed and used correctly, you may be able to save $180 each year.

Get a tune-up for your furnace and change your furnace filter monthly. Clean filters create better air flow, while dirty filters can hike energy usage.

Reduce drafts by sealing air leaks and add insulation to keep precious heat from escaping. The EPA estimates that homeowners can typically save up to 20 percent of heating and cooling costs (or up to 10 percent of total energy costs) by air sealing their homes and adding insulation in attics, floors over crawl spaces, and accessible basement rim joists.

Get a window insulation kit from the hardware store to keep drafts at bay.

Thinking about Updating a Kitchen...

2009-12-14T15:16:00.000-05:00

As many of you know, my husband Michael and I LOVE to cook in our kitchen, as a result, it takes a lot of abuse and ends up quite disorganized, so I looked in to what we should do to ensure it remains in good condition and I wanted to share what I found out… Here are some of the most common scenarios that your kitchen will see and our tips for handling these scenarios. Of course, even if the following scenarios don't directly apply to your household, the solutions are nearly universal in creating a more efficient kitchen. If you are considering a renovation, Call me... I would love to share my input and give you feedback on which items to prioritize and any suggestions on which vendors other clients have had success with.

Playing Host for the Holidays
No matter what holiday you are celebrating in your home, your kitchen is going to receive the brunt of the extra strain, foot traffic, and the judgmental eyes of the in-laws:

Start with an evaluation of your kitchen storage. The first obligation of hosting the holidays is providing meals. You need easy access to pots and pans, mixing bowls, and serving dishes. You may want to think about adding a custom-built cabinet or else moving your toaster oven and other less important items out of the kitchen entirely until your hosting duties are done.

Take a look at your kitchen lighting and its flexibility. No area of the house has the same need for flexible lighting design. You need wide, clear lighting for food prep and cleaning, but task lighting for chopping vegetables and stove tops are also helpful. And what about grandpa's habit of getting up at 3AM for a late night snack? A miniature, overnight light will keep guests' footing safe without disturbing the rest of the household or your energy bills.

Expand your kitchen space. Smaller kitchens can use help from other areas of the home. You probably need every available space for seating, but during cooking times, the dining room can sometimes be converted to aid the work going on in the kitchen. From food prep to laying out extra silverware, napkins, dessert dishes, and other items, look at opportunities in areas adjacent to the kitchen to expand your kitchen capacity.

The Winter Kitchen

When winter arrives, it puts strain on the whole house: Trying to keep the bedroom warm enough, handling cold bathroom tile, and maintaining your heating system in general can all be chores, but you can't forget the kitchen, the most underrated and under-utilized asset in surviving the winter!

It all starts with a hot beverage in the morning, whether it comes from the espresso machine, tea kettle, or instant powder. If you are entertaining and not sure how to juggle various demands of guests, consider going to Bed Bath and Beyond – they have the one cup coffee and tea dispensers on sale this week!

A big, healthy breakfast doesn't hurt, either. Winterizing your kitchen always involves putting its best face forward in the morning.

People tend to eat more in the winter, and this simple fact affects everything in the kitchen. A new oven range will help with your increased baking needs; a new counter top can help with chopping vegetables and better nutrition.

Don't forget the kitchen is still a room. Thermal windows, insulation, and zoned heating can increase energy efficiency in the kitchen, just like anywhere else in the house.

Make it a great week and get that holiday shopping done, it is busy out there!

Gains in local real estate trends...

2009-11-23T10:20:00.003-05:00

Our local housing market may be headed in the right direction - with 17.6 percent more homes were sold in the Triangle residential market during October compared to the year prior!

The Triangle MLS (multiple listing service) tracks new and existing home sales data in Wake, Durham, Orange and Johnston counties and in October 2,009 homes were sold compared to 1,709 the year prior.

Data from the Triangle Area Residential Real Estate report also indicated that the dollar volume of homes sold last month also grew, by 8.3 percent, to $441.8 million in October compared to $407.9 million in homes sold the year prior. That’s the first gain in sales volume since October 2008.

Much of this change can be contributed to the federal $8,000 first-time home buyer tax credit program and the new tax credit program for move up buyers will help continue this trend. This program extends the first time homebuyer tax credit and offers a $6,500 tax break to qualified homeowners looking to move up to middle-market homes that cost no more than $800,000. Another important contributing factor is that home sales in the Triangle started declining in late 2008, so the market today is in comparison to one of the slowest housing markets in decades.

If you are a seller, keep in mind that overall, the average Triangle home sale price was down by 8 percent in October compared to October 2008, and it took four more days on market to sell than the year prior. The positive news is that the inventory of homes for sale has declined by 13 percent which means there is less competition for the homes on the market for sale. To look at this information by County:

· In Wake County, 1,141 homes sold in October compared to 967 home sales the year before, which is an 18 percent increase. Total dollar volume of homes sold in the county was $270 million, which was up by 5.5 percent from the year prior.

· In Durham County, 269 homes sold in October compared to 210 homes sold the year before, which is a 28 percent increase. Total dollar volume of homes sold in the county was $52 million, which was up by 23.4 percent from the year prior.

· In Orange County, 91 homes sold in October compared to 62 homes sold the year before, or a 47 percent increase. The total dollar volume of homes sold in the county was $28.3 million, which was up 43 percent from the year prior.

· In Johnston County, 193 homes sold in October compared to 176 homes the year before, or a 9.7 percent increase. Total dollar volume of homes sold in the county was $32 million, which was up by 5 percent from the year prior.

Home buyer tax credit extension and potential expansion

2009-11-16T05:25:00.002-05:00

Everyone’s been asking about the home buyer tax credit extension and potential expansion so I thought I would give you an update.

“The new compromise which will be part of the unemployment extension bill would extend the existing credit and create a new $6,500 credit for move-up buyers. Both types of buyers must sign a binding contract to purchase a new or existing primary residence between December 1, 2009 and April 30, 2010. Buyers would have until June 30 to close the deal.

Move-up buyers will be eligible if the home they are leaving has been their principal residence for five years or more.

The cost of the newly purchased home may not exceed $800,000 for new or move-up buyers. There is no partial credit for homes over $800,000.

Home buyers would not have to repay the credit as long as they live in the home as their principal residence for at least 36 months.

The income limits for all buyers would rise to $125,000 for single returns and $225,000 for joint returns, up from $75,000 and $150,000 respectively, under the current program.

The full Senate will probably vote on the unemployment extension bill, which includes the home buyer credit, next week. If it is approved, it will move to the Assembly”, which "could agree to the amendment or disagree and send it to a conference committee."

I will keep everyone updated on the progress of this bill, you can check the story out here.

New data is out from the National Association of Realtors...

2009-11-16T05:22:00.002-05:00

Existing home sales bounced back strongly in September with much of the increase being attributed to the rush of first-time buyers trying to claim the tax credit before the end of this month. Sales jumped 9.4 percent to 5.57 million units over August sales of 5.09 million, marking five gains in the past six months and is 9.2 percent above levels seen last year. Sales activity is at the highest level since July 2007 when sales hit 5.73 million.

The current housing supply is the lowest seen in two and a half years. Total housing inventory at the end of September fell 7.5 percent to 3.63 million existing homes available for sale, representing an 7.8-month supply at the current sales pace, down 16.1 percent from August’s 9.3-month supply. Compared to a year ago, there are now 15 percent fewer homes on the market. According to Lawrence Yun, NAR chief economist, “If we could continue to absorb inventory at this pace, home prices would return to normal, modest appreciation patterns next year.”

Mortgage Rates for 30-year fixed loans continue to hover around 5 percent. While having risen above the ultra-low 4.78 percent reached in the spring, rates remain at attractive levels for people looking to buy a home or refinance. As an economic recovery is underway and concerns over inflation come back, experts expect mortgage rates will likely go up. (NAR, Oct 23-09 Report)

My advice based on the current economic climate and local market conditions is as follows:

Buy well within your means. Although you may want to buy a home you can see yourself growing into, stay within a conservative percentage of what you currently make. If you had to take a part-time instead of a full-time job, if your salary or hours were cut, or if you become a one-income household instead of two, make sure your monthly payment would still be attainable.
Put down a large down payment. Not only will your monthly payments be less, but the equity from the down payment creates a buffer zone. If you put 20% down when you purchase your home and home prices in the area drop 5%, you still have at least 15% equity in your home. For sellers, this built-up equity provides flexibility-should you need to sell in a hurry.
Have an emergency fund. Experts advise everyone, not just homeowners, to have an emergency fund of at least six months’ worth of expenses. This fund should be saved in a liquid account, like a money market or savings account, for easy access if needed quickly. With the average time to find a new job currently above six months, seven or more months of savings is a good goal.
Pay down other debts. Lowering or eliminating debt service is always a good move and is particularly wise in the current job climate. If you were without a job and income, lower fixed monthly expenses help ease your financial burden and stretch the money in your emergency fund.

Believe it or not, it’s a great time to buy and sell real estate! If you or someone you know is considering making a move, I would love to help. Call today for a confidential consultation and find out if you can afford your dreams. Make it a great week!

What is a short sale?

2009-10-26T21:02:00.004-04:00

What is a short sale? A short sale is a transaction in which the lender, or lenders, agree to accept less than the mortgage amount owed by the current homeowner. In some cases, the difference is forgiven by the lender, and in others the homeowner must make arrangements with the lender to settle the remainder of the debt.

Why is the number of short sales rising? Due to the recent economic crisis, including rising unemployment, and drops in home prices in communities across the nation, the number of short sales is increasing. Since a short sale generally costs the lender less than a foreclosure, it can be a viable way for a lender to minimize its losses.

A short sale can also be the best option for a homeowners who are “upside down” on mortgages because a short sale may not hurt their credit history as much as a foreclosure. As a result, homeowners may qualify for another mortgage sooner once they get back on their feet financially.

If you or someone you know may is having trouble paying their mortgage, they may be 90 days away from foreclosure. Have them call Sara at 919-757-4321 for a confidential consultation to discuss options today before it's too late.

Cheap Condos Anyone?

2009-10-08T06:29:00.000-04:00

If any of you have been contemplating Investment property, I might be able to help! There is a condominium project downtown that is up for auction and the same units that were selling for $200,000+ over the last 2 years will be up for auction on Nov. 15th with bids beginning at $75,000!!! I took a look at the units and various floor plans and have summarized the following for your consideration:

New construction, there are 2 buildings built - one sold out, the other is up for auction (36 units for sale).
The property is located inside the belt line, just past the intersection of Six Forks Rd and Atlantic Ave, near the Costco and Wake Forest exit off 440
The new Trader Joe's is 1/2 mile away and North Hills is ~ 2 miles
There is another condo project next door that is almost sold out and a new apartment complex
It is a 3 floor complex with multiple floor plans. Most are 2BR 2BA, some have a garage others have storage rooms
They have granite and stainless steel appliances in the kitchen, tile and upgraded carpeting plus chrome or brushed nickel hardware
Bidding starts at $75,000 for a 1 BR (there are only 2 units) and the 2BR units at $95,000
You must have a minimum cashiers deposit of $7,500 to bid and be able to provide an additional amount to equal 10% of whatever your bid ended up to be the same day.
They will add 10% to your bid for "auctioneer" expenses and they are an "As-Is" sale
There will be an open house again this coming Sunday if you would like to attend.
I can assist you in the bidding process, however you will need to indicate agent representation in writing when you are on site viewing the properties.

I took a few photos of the units and summarized them in the attachment. I have analyzed the units that sold over the last few years and run the numbers on the project - if you have an interest in learning more about this opportunity, please give me a call and I can explain more or click here for the project overview. Make it a great week!

The Clock is Ticking... $8,000 Tax Credit, Anyone?

2009-10-04T11:44:00.002-04:00

I know I keep harping on the $8,000 Tax Credit... but TIME IS RUNNING OUT! Do you know of someone who would like to buy a home that is a 1st time home buyer OR hasn't owned their own primary residence in the last 3 years? Let them know that they may qualify for the $8,000 tax credit. Forward this email accordingly - they must be under contract by November 1st.

They can learn more details from attending a seminar in Morrisville this Saturday, October 10th, 9:30 AM being held by a local mortgage lender and tax credit expert!

What You Will Learn by Attending:
• Why Buying Today Will Put $8,000 in Your Pocket
• Why There Has Never Been a Better Time to Buy a Home
• How Renting Kills Your Net Worth
• How Buying a Home Will Increase Your Net Worth

Where:
Country Inn and Suites
201 Airgate Drive, Morrisville, NC 27650
Next to the Capital City Chophouse
www.YourTriangleLender.

2009-10-04T07:27:00.000-04:00

There are 2 things going on in our market which could affect you or someone you know...

FIRST, the Wake County School Board election is tomorrow, Tuesday October 6th. If you have concerns about the school system and recent reassignment issues make sure to vote! Not sure what district you are in, click here for the map.

Wake Partnership newsletter in question
Wake School Community Alliance video
NewRaleigh overview of candidates
WRAL video coverage
WCPSS Reassignment Information

SECOND, the $8,000 tax credit will expire on November 30, 2009. If you know anyone who might be eligible for this credit have them review the following information:
Watch the IRS video on YouTube
In Depth: 2009 First-Time Home Buyer Tax Credit

Get out there and VOTE Wake County!!

Termite damage?

2009-09-21T08:34:00.002-04:00

Wow... I learned a surprising real estate statistic recently: termites cause an estimated $5 billion in property damage a year in the United States, which makes these awful bugs risky to your property. In fact, according to the National Pest Management Foundation, they cause more damage to wood-based structures than fire, flood, or wind.

You most likely had a termite inspection when you purchased your Wake county home, but did you realize that your typical annual pest inspection and/or treatment does not identify nor treat for damage from these organisms?

Take a look at this Termite website to find out more and contact your local pest inspector to inspect regularly for termite damage before it's too late!

Fall is time to get that Yard in Gear!

2009-09-14T09:26:00.000-04:00

Today I wanted to encourage those homeowners who may want to sell next spring to go ahead and get your yard in gear...

There is no better time than fall to get yards looking great, according to the “Yard Doctor” Trey Rogers, a professor of turf grass management in the crop and soil sciences department at Michigan State University.

Here are 6 tips from Rogers to help you take advantage of the seasonal weather and vibrant colors to add dramatic curb appeal.

For home owners in the south central portion of the United States, fall is the single best time to fertilize a yard. During the first 10 days of September, lay a complete nitrogen and potassium combination fertilizer.
Fall is also the best time to reseed grass. If you have bare spots from the summer, put down a seed mix that matches the yard during the first 15 days of September. Yards with crabgrass will notice the patches turn purple with the first frost. It is important to thoroughly seed and water those areas.
During the first 10 days of October, take care of those pesky weeds and dandelions. Spray a liquid broadleaf herbicide over the yard. Weeds germinate in the fall, so by treating the problem in October, there will be fewer dandelions in the spring.
Mow, mow, mow. If you really want a yard to look smashing, dedicate yourself to mowing twice a week with the blade set at 2 ½ to 3 inches through mid-October.
It’s important to get those leaves off the ground as to not suffocate the lawn. But a better option would be to grind up the leaves and mulch them back into the yard. Most lawnmowers have blades designed for mulching. This provides natural nutrients and can be an organic weed controller — particularly maple leaves, which are a natural herbicide toward dandelions, Rogers says.
Play with the fall colors. Display potted mums. Think red. Dogwood bushes are cold-weather hardy and have red or yellow branches. Holly is another great way to decorate the outside of a home, where the bright red berries on the branches can standout.

John (Trey) Rogers, Ph.D., is regarded as one of the country’s leading experts on growing and maintaining healthy lawns. He has been a professor of turf grass science at Michigan State University for 22 years. He is also a consultant to Briggs & Stratton, a manufacturer of engines for outdoor power equipment, where he has become known as the Yard Doctor.

Visit his Web site: http://www.yardsmarts.com

2009-08-24T10:55:00.000-04:00

The National Association of Realtor’s Pending Home Sales Index reached 94.6 in June, its highest mark in two years and a vast improvement from the cyclical low of 80.4 in January of this year. If buyer contracts persist at this level, the corresponding home sale closings would be about 5.2 to 5.5 million at an annualized rate. For comparison, last year existing home sales totaled 4.9 million. We’re on our way to that: in June, existing-home sales increased for a third consecutive month, posting 4.89 million seasonally adjusted annualized units.

Email Sara for more info about the Wake County market snapshot for second quarter of 2009.

Need another $8,000?

2009-08-16T08:52:00.000-04:00

Well, the countdown is starting for the first time home buyers $8,000 tax credit. It takes at least 4-5 weeks to close these days. You must be closed by December 1, 2009. Sara & The Sold It Again Team would be happy to help you find that perfect home fast. Feel free to forward this email to anyone you think might qualify or need assistance.

According to the new legislation, a first time home buyer is defined as someone who has not owned a principle residence in the past three years. Those three years are counted up to the date you take possession of the house you buy in 2009. This means that even if you’ve owned a home in the past, you can still take advantage of the tax credit as long as you haven’t purchased a primary residence since 2006. For more information click here.

The same goes for married tax payers - they must both be first time home buyers. For non-married joint buyers, only one of them needs to be a first time home buyer, or someone who hasn’t owned a primary residence in the past three years.

Qualifying homes include:

1. New homes

2. Homes that are being re-sold

3. Condos

4. Townhomes

The main restriction is that the credit is only for those who buy a home as their primary residence. So investors looking to buy a rental property would not qualify for the credit. However owning a vacation home or a rental property already does not necessarily disqualify you from taking advantage of the credit (as long as you haven’t owned a primary residence in the past three years).

A Look at the Numbers - The tax credit is equal to 10% of the purchase price of the home, up to $8,000. The amount of the credit you can qualify for is related to how much money you earn. Here’s how the credit is scaled:

· Single home buyers earning 95K or less qualify. If you make 75K or less, you qualify for 100% of the $8000. If you make halfway, 85K, you qualify for 50% or $4000. The credit phases out gradually between 75K and 95K of income. For example, if you make halfway between the income limits, 85K, you qualify for up to half of the credit.

· The same rate applies for married couples and joint buyers whose incomes limits are doubled to $150,000 to $170,000. Married couples or joint buyers whose incomes are less would receive the full $8000 credit. At an income level of $160,000, halfway between 150 and 170, the buyers would receive half the credit – or $4,000. And the credit phases out altogether at $170,000

This credit represent a significant amount of money. One of the biggest points of difference for the new credit from the one congress passed in July of 2008, is that the new credit does not have to be paid back. In addition, it's refundable, which means that if you’ve paid all your taxes as you go with an automatic payroll deduction, you would receive an $8,000 check from the IRS. If you're committed to buying a house in 2009 and want to use the $8000 tax credit for a down payment, consult with your certified public accountant.

In Summary

Qualifying home buyers will need to make their home purchase between January 1, 2009 and December 1, 2009. And the home has to remain their principal residence for the following three years. The new tax credit coupled with historically low mortgage rates and rising affordability, offers buyers a great opportunity if they act fast.

Q and A on inflation and our market?

2009-08-01T09:51:00.000-04:00

If you've seen the news lately, you know concerns about inflation are increasing. But what does it really mean to you?

The fact is, inflation is a very serious issue, and it will likely be on the rise as 2009 proceeds...and along with it, home loan rates will rise too.

To help you learn more about this important topic, I want to send you a link to a short video, featuring the nation's foremost mortgage industry expert. In this video, you'll learn how inflation impacts interest rates and what the outlook is for down the road.

Because home loan rates will be on the rise, if you or any of your family, friends, neighbors or co-workers have been considering a purchase or refinance, now's the time to act. Please contact me today to discuss your specific situation, and feel free to forward this email and video link along to others that you think might benefit from it as well.

Watch the Video

Triangle tops other cities July 2009

2009-07-21T10:00:00.000-04:00

Triangle Business Journal

The Raleigh-Durham area has finished on top in a study designed to determine how several prominent Southeastern cities compare to each other.

The study, which was commissioned by the Charlotte Chamber of Commerce, ranked cities in five separate categories as well as in a composite ranking. The Triangle, which placed either first or second in each category, was No. 1 in the composite rankings.

The categories, and the Triangle’s rank in them, were: employment and workforce (2); income and productivity (2); livability and connectivity (1); new economy (2); and equity and diversity (2).

Other than the Triangle, the cities in the rankings – and their composite ranking – were: Austin, Texas (2); Charlotte (3); Atlanta (4); Dallas, Texas (5); Richmond, Va. (6); Nashville, Tenn. (7); Tampa, Fla. (8) and Jacksonville, Fla. (9).

The study, called Benchmark Charlotte 2009, was conducted by Harrison S. Campbell Jr., an associate professor of geography at the University of North Carolina at Charlotte.

Home Improvement Returns...

2009-06-19T08:53:00.000-04:00

In the past few weeks, many of you have started home improvement projects, hence the topic for this morning. Take a look at this year’s Cost vs. Value Report (there is a summary below) and you will notice some familiar projects ranked at the top. For the third year in a row, Siding Replacement–Fiber-Cement is the project with the highest percentage of cost recouped. In fact, the projects with the top-three highest returns on investment (Deck Addition–Wood and Siding Replacement–Vinyl, are ranked two and three, respectively) did not change from last year.

Returns have remained fairly steady among kitchen and bath projects because this is still where people want the money spent, so long as it’s spent wisely. If you go too crazy, then it limits the buyer appeal. This sentiment is reflected in the data. The Upscale Major Kitchen Remodel is the only kitchen project not in the top 10 in ROI, and its returns decreased 4.69% (fourth highest) from 2007.

South Atlantic — Midrange

2008-09 National Averages

Job Cost	Resale Value	Cost Recouped	Project	Job Cost	Resale Value	Cost Recouped	Change vs. 2007
$42,683	$32,246	75.5%	Attic Bedroom	$48,398	$35,694	73.8%
$12,858	$7,999	62.2%	Backup Power Generator	$14,040	$8,026	57.2%
$54,288	$42,407	78.1%	Basement Remodel	$61,011	$44,467	72.9%
$33,959	$22,450	66.1%	Bathroom Addition	$38,078	$24,187	63.5%
$14,510	$10,953	75.5%	Bathroom Remodel	$15,899	$11,857	74.6%
$14,494	$11,006	75.9%	Deck Addition (composite)	$15,277	$11,260	73.7%
$9,370	$7,863	83.9%	Deck Addition (wood)	$10,601	$8,676	81.8%
$72,717	$51,301	70.5%	Family Room Addition	$81,315	$53,608	65.9%
$52,710	$36,960	70.1%	Garage Addition	$57,272	$38,161	66.6%
$26,465	$14,905	56.3%	Home Office Remodel	$28,094	$15,329	54.6%
$53,236	$42,104	79.1%	Major Kitchen Remodel	$56,611	$43,030	76.0%
$90,590	$64,719	71.4%	Master Suite Addition	$101,571	$67,037	66.0%
$20,320	$16,234	79.9%	Minor Kitchen Remodel	$21,246	$16,881	79.5%
$16,088	$11,661	72.5%	Roofing Replacement	$18,825	$12,336	65.5%
$9,326	$7,705	82.6%	Siding Replacement (vinyl)	$10,256	$8,274	80.7%
$67,670	$42,920	63.4%	Sunroom Addition	$71,745	$40,715	56.7%
$131,717	$102,338	77.7%	Two-Story Addition	$146,538	$103,553	70.7%
$9,496	$7,535	79.4%	Window Replacement (vinyl)	$10,537	$8,132	77.2%
$10,416	$8,215	78.9%	Window Replacement (wood)	$11,512	$8,946	77.7%

South Atlantic — Upscale

2008-09 National Averages

Job Cost	Resale Value	Cost Recouped	Project	Job Cost	Resale Value	Cost Recouped	Change vs. 2007
$67,892	$46,801	68.9%	Bathroom Addition	$74,325	$49,100	66.1%
$47,615	$34,369	72.2%	Bathroom Remodel	$51,455	$36,400	70.7%
$35,650	$23,503	65.9%	Deck Addition (composite)	$37,498	$23,706	63.2%
$79,044	$52,788	66.8%	Garage Addition	$85,844	$53,908	62.8%
$106,506	$78,086	73.3%	Major Kitchen Remodel	$110,964	$78,398	70.7%
$206,735	$135,088	65.3%	Master Suite Addition	$223,876	$136,764	61.1%
$31,112	$21,523	69.2%	Roofing Replacement	$36,296	$22,861	63.0%
$12,951	$11,785	91.0%	Siding Replacement (fiber-cement)	$13,177	$11,424	86.7%
$11,572	$9,716	84.0%	Siding Replacement (foam-backed vinyl)	$12,528	$10,074	80.4%
$12,257	$10,095	82.4%	Window Replacement (vinyl)	$13,608	$10,781	79.2%
$16,222	$12,576	77.5%	Window Replacement (wood)	$17,580	$13,455	76.5%

Lenders Want to Say Yes

2009-05-15T11:00:00.000-04:00

If you wish to buy a home but consider yourself incapable of getting credit, you may be living in the past in terms of assessing your financial situation. Lenders have become more flexible in underwriting mortgage loans.

A recent survey of mortgage lenders revealed some interesting trends. Ninety-six percent of those surveyed had cut their standard down payment requirements for moderate-income buyers, and 93% said they are more lenient regarding debt-to-income-ratios. Ninety-four percent of those surveyed said they now have more flexible approaches to credit histories, and look at rent and utility payments more than credit cards. Seventy-nine percent of lenders say they have relaxed employment criteria. They now look more at your capacity to generate a stable flow of income rather than requiring a long history at one job.

There are more lenders today, and they are in fierce competition with each other. The home loan industry has created entire markets that cater to those with less-than-perfect credit.

Your Financial Cushion

2009-02-28T07:00:00.000-05:00

When you calculate how much you will need to purchase a home you will add up the down payment and closing costs. It is also a good idea to leave yourself with some financial cushion to cover the incidental expenses associated with moving.

First, you will have to pay the moving company unless you can find friends with strong backs who will help you. Then many buyers plan to do some work, such as painting, replacing carpet, or refinishing floors. If you are moving into a larger space, you may find yourself making some major furniture purchases within a few months of closing.

A financial cushion is important enough that some lenders require buyers to have an amount in the bank equivalent to two or three months mortgage payments. This is especially true for buyers who are putting less than ten percent down. Your real estate agent can give you guidance. A lot depends on your overall financial situation. If your mortgage is a relatively low percentage of your monthly income, you will be able to rebuild a comfortable amount of savings in a few months.

Your Selling Strategy

2009-02-02T09:40:00.000-05:00

Have your housing needs expanded along with your income? Are you are thinking about selling your property and looking for a new home? The transition can be accomplished smoothly by using a systematic approach.

As part of your selling strategy, it is advantageous to have your present house under contract before you begin a serious search for a new home. This will make you attractive to sellers in two ways. You won't have to include a contingency in your offer to cover the sale of your present home. You will strengthen your negotiating position by improving your financial circumstance with an accepted offer. In a situation where there are multiple offers on the new home, the chances of your offer being accepted are better if it isn't dependent on selling another house before you can make a move.

Show And Sell

2009-01-10T09:47:00.000-05:00

Real estate agents are often asked "What is the best way to show and sell a home?" Almost every agent can tell you a story about meeting with a prospective seller who has just completed a lot of work to prepare their home for the market. It can be difficult for a real estate agent to tell the seller that their renovations were not the best changes to effectively market their home.

If you are considering making any improvements prior to selling your home, the best advice is to consult with your agent before you make any changes. An experienced real estate agent can provide you with information that can help you decide what kind of improvements will set the stage for a sale. Whether it is paint and wallpaper, remodeling the bathrooms, or updating the kitchen, your real estate agent can guide you toward "neutral" choices which can assist the buyer's imagination.

Real Estate Tip: Beneficial Tax Laws

2008-12-21T09:00:00.000-05:00

American tax law offers a significant capital gains tax exemption that allows taxpaying homeowners to unlock home equity and end the spiraling cycle of "investing up." First-time buyers enjoy expanded rules for Individual Retirement Accounts (IRA) and 401(k) plans, rules that allow penalty-free withdrawals to purchase a home.

Every two years, married sellers of principal residences who file joint federal income tax returns are allowed a $500,000 exclusion ($250,000 for singles) from capital gains tax. For sales that took place after May 6, 2003, the maximum capital gains tax rates for profits above the exclusion dropped from 20% to 15% for higher income taxpayers, and from 10% to 5% for lower income taxpayers.

Homeowners can now consider several new options. People who find themselves at an empty-nester stage (no children at home) in a four or five bedroom home with a large equity have been able to unlock their equity dollars, using the income to help their children buy a first home, take a luxury cruise, remodel the house or purchase a second home for vacation or retirement.

Consult your tax advisor for advice regarding your particular circumstance.

Sara Matyiko Chorba
Broker/Realtor®, e-PRO, ABR
The Sold It Again Team, Inc.
(919) 757-4321 Direct
www.SaraSOLDItAgain.com

Our business is referral based, if you know of anyone who could use our service for their real estate needs, we would be grateful if you would ask them to give Sara & The Sold It Again Team a call.

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Economic Update & Local Housing Impact

2008-11-17T16:29:00.003-05:00

I wanted to reach out and touch base regarding the local real estate market in relation to all of the ongoing news and economic issues. The Triangle real estate market is strong compared to anywhere else in the country, with an average appreciation of +4.8%, the USA appreciation rate is -4.8% . Although activity on listed properties has slowed, WOW what a Buyer’s market! If you are interested in investment purchases or “moving up” now is the time. Email Subscribe@NoseyNeighborz.com and put the name of your favorite subdivision in the subject line to begin receiving notices of new listings on the market in your favorite neighborhood.

The 2 main reasons buyers in the Triangle are not willing to “pull the trigger” on a house purchase are 1) 57% are skeptical of the market conditions and 2) 62% cannot sell their current residence . The good news is that 61% of people surveyed feel that market conditions will improve. If you know someone who is considering Buying or selling real estate anywhere in the country tell them to get off the fence and take advantage of this market.

Making a real estate purchase is the best way to contribute to turning this economy around. Interest rates are low and prices are a steal – the bank will give you a loan if you can actually qualify and afford the purchase (there is no more “free money”). Call our team for more information about how to interpret the economic impact on real estate and lending.

A few tips - Be Smart, Shop Around, and Hire a Negotiator who will help you take advantage of this market. If you are looking to purchase an investment property or “move up” as a Seller, call Sara & Team for a consultation on what your home might sell for in today’s market. Working as your real estate partner, we can help you capitalize on equity on the Buying side of the transaction.

Thanks, Sara & Team

Sara & Team are Touring Raleigh Downtown!

2008-11-10T16:49:00.000-05:00

Hello everyone! I participated in a tour of several new condo complexes in downtown Raleigh recently with the Women's Council of Realtor's. My favorite was the West located just off Glenwood Avenue. There are many great buys in this market right now so if you have an interest, please call our Team and let's shop for a condo! Take a sneak peek at the roof top view of the West below:

Thanks for stopping by, Sara & Team.

FHA Stimulus Package 2008

2008-02-15T08:02:00.002-05:00

Have you heard? How will the FHA Stimulus Package affect you? Here are the basics:

The Economic Stimulus Act of 2008 will temporarily increase the loan limits for the Federal Housing Administration (FHA) and the conforming loan limits (the GSE limit) for Fannie Mae and Freddie Mac (the GSEs)

Currently: FHA loan limits for 2008 for single-family properties were 95% of the area median house price, as determined by HUD. for areas throughout the country. The GSE limit for 2008 in North Carolina was $417,000.

The Plan: FHA and the GSEs' loan limits would increase to 125 percent of the area median house price for the property up to a statutory cap of 175 percent of the current GSE limit of $417,000 or $729,750 for a single-family property. Neither the new FHA nor the new GSE loan limits are uniform across the country.

For more information, please contact Ken Markison at kmarkison@mortgagebankers.org

First Impressions

2007-12-05T13:00:00.000-05:00

While I have enjoyed working with many of you throughout 2007 and look forward to working with even more of you in 2008, I do want to leave you with one more piece of advice. This may seem simple and insignificant, but I assure you it is the first step and a very key step in the selling of a property. In two words, Curb Appeal.

Curb appeal is synonymous with the “first impression” for your home. When you meet a person face-to-face, 93% of how you are judged is based on non-verbal data. In addition, 70% of sales are made in the first 12 second. Relating this information to your home for sale, a potential buyer’s mind is set into motion long before even reaching the front door. A freshly mowed lawn, cleanly laid mulch and well groomed shrubbery shows that you not only take great care of your yard, but more importantly you take great care of your home. It also sets the mood for the entire showing and compels the potential buyer to look for the extraordinary features in you home, rather than examining the property for additional oversights.

I’ll be the first to tell you I have had clients that have pulled up to a home that is high on their list and decides not to go inside based on what they are able to see from the car window. Even if I can convince them to continue with the showing, their minds have been made up. I take very seriously the presentation of my listings from the point someone pulls into the driveway. I feel very confident this is one of the reasons my listing sell far below the regional average and can not stress enough how much it will help you.

Schools and the Triangle...

2007-10-04T11:57:00.001-04:00

“What does the current education system in the Raleigh/Durham area offer our youth?” When I hear this question asked by a family member relocating to our area it brings an immediate smile to my face. I usually take a moment and offer just some of the facts about our area and allow the individuals to answer the question for themselves... Our public schools rank among the best in the nation. The private schools, like Cary Academy and Ravenscroft, further strengthen our offerings to the next generation. With the start of 2008, Wake County has become the largest school district in North Carolina. The public school system consistently ranks in the top 5 in our nation. Our classroom sizes remain below the national average in teacher to student ratio and there are new schools being built every year. More information on Wake County public schools can be found at http://www.wcpss.net/

If looking toward further education, the Raleigh/Durham area houses some of the best. With Duke University, NC State University and the University of North Carolina all located in a 15 mile radius, our system for creating young professionals rivals any in our country. Duke University is regarded as one of the nation’s best private educations available. NC State is ranked in America’s best value colleges in the 2007 Princeton Review. The University of North Carolina placed first among best value among public universities by Forbes Magazine in 2007.

Finally, we house two of the highest nationally acclaimed research areas - a perfect place to continue expanding educational interests through internship or special projects. Research Triangle Park, RTP, spans 7,000 acres and 16 square miles and is first among research designations in our country. Over 39,000 world class employees totaling in excess of $2.7 billion in annual salary consider this area home to their professional careers. It houses some of the most respected companies throughout the world, such as GlaxoSmithKline, IBM, and Research Triangle Institute. Centennial Campus resides on NC State Campus and is tagged a multi-disciplinary R&D neighborhood. It covers 1,400 acres and continues to grow. At current there are 61 corporate and government partners and 73 state research centers. It also opened it’s first sustainable “green” building in 2005.

Raleigh Real Estate Market

2007-09-03T17:05:00.000-04:00

As my weekly ritual goes, I read between 15 and 20 articles surrounding the nation’s real estate market and its relation to the Raleigh, North Carolina market. This week amongst all of those articles, one particular number caught my eye, -3%. In an article by CNN Money (http://money.cnn.com/2005/12/29/real_estate/buying_selling/handicapping_housing_markets/index.htm) this percentage, -3%, appeared and represents the amount that homes in the Raleigh market are overvalued/overpriced. In other words, it means our homes are worth more than we are buying them for.

The percentage a home is overvalued is the amount of equity in a home that is not justified and can be lost when there is a downturn in the economy. Unfortunately, the national economy is in one such downturn. Raleigh is in a position where our home values will not be hurt and we are continuing to benefit from a strong local real estate market. In markets such as Naples, Fl and Sacramento, CA, homes are priced >60% the current value, hence it is more risky to purchase a home. These homes are losing value and the homeowners are losing money. As a result, owners are not able to list their homes, because they now owe more than they are able to sell the property for.

On the other hand, purchasing a home in Raleigh is currently a wise investment. Our homes are appreciating in value and the prices they are being purchased for are not only safe, but justified and often allow a buyer instant equity upon closing on a home. My heart goes out to those families in other markets who are experiencing difficulty selling their homes. I am relieved for the Buyers and Sellers in the Raleigh real estate market, the #1 Home Sellers market in the nation, to know that that is not a challenge we face.

Time to Sell Your Home?

2007-08-26T13:06:00.000-04:00

Placing your home for sale is one of the most important times of your life. While the excitement sometimes causes nervousness and even a sleepless night or two, it doesn’t have to. The key is to look at this event in its simplest form, the goal. The goal of selling your home is to make the most money possible. Let’s take a look at the 5 most important steps that need to be taken in order to achieve your goal:

Chose a Listing Price
The correct business plan takes a great deal of research and time to produce. Keeping in mind the ultimate goal is to make as much money as possible, you want to be cautions of agents who make the mistake of listing your home too high ("Here's what I can get for you if you list with me!"). In order to make that ideal amount, you not only have to sell your home for as much as possible, but you need to do it while keeping cost to a minimum and having settlement in the shortest possible timeframe. When a home is listed too high, it sits on the market, advertising costs increase, and your mortgage payments continue to come due. If the property is listed accurately, more traffic will visit your home, the offers will come sooner, negotiations will be quick, and you reach the ultimate goal, you make the optimum profit.
Check Your Mortgage Payoff
The mortgage payoff is the exact dollar figure you currently need to satisfy the amount you owe. You can’t develop an achievable goal without first knowing what you still owe to the bank.
Estimate Your Costs to Sell
The second thing you must do is identify the additional costs that you are going to incur through the process of selling your home. These costs include, attorney fees, prorated costs for your share of annual expenses (such as property taxes, home owner association fees), surveys, inspections, and real estate commission if you choose to use an agent.
Make Necessary Repairs
Inevitably there are those few tiny areas that you have been meaning to fix, but you just haven’t gotten around to it yet. Well, in order to reach the profit you are hoping to gain, it’s time to get out your tool box. Taking a weekend and sealing that tiny leak under the sink or putting a fresh coat of paint in the baby’s room can make all the difference.
Stage Your House to Show
There is no doubt an inner peace comes over you when you pull into your driveway at the end of a long day. The trick is to produce this feeling for the prospective buyers. Freshening up the yard, organizing the closets and cabinets, and washing the windows will all help set the tone for visits from buyers.

Once you have carefully made all of the necessary arrangements surrounding these 5 steps, you are ready to sell your home and reach that ultimate goal of making money. The best advice I can give is to remain calm, make your decisions wisely, and trust in your agent’s expertise. While I don’t know what information you receive will from others, I can assure you the SaraSoldItAgain Team will provide only the most accurate of information and work diligently until your home is sold and your goals are reached.

Hot Raleigh days

2007-08-19T09:05:00.000-04:00

With not much change in the headlines from last week, I thought I would change things up a bit. This week I want to take a moment and look at all the wonderful outdoor activities offered to those who live in our Raleigh/Durham area. Morning, afternoon or night, we have more options at our fingertips than we could possibly hope to enjoy.

While I admit those summer days can get a little on the hot side, that doesn’t mean you can’t stay cool and still enjoy the outdoors. Raleigh/Durham could not be placed in a better geographic area. The beach is 2 hours to our east and the mountains just 2 hours to our west. You’ll be hard pressed to find something more refreshing that a dip in the Atlantic Ocean or sliding into a natural mountain spring. If this still sounds a little far from home, walk to your neighborhood pool and spend the afternoon with those who live around you. We sometimes take for granted that almost every one of our neighborhoods has its own pool creating a wonderful place to meet, make, and enjoy friends.

If you don’t quite have the time for a weekend trip, stay a little closer and enjoy Jordan Lake or maybe the day out on the golf course. You would be hard pressed to not find a refreshing activity around a 14,000 acre lake. You heard me right, 14,000 acres of boating, fishing, hiking, camping, swimming, back packing, picnicking, nature watching…sorry, I am a little excited! If this is not quite your speed, spend a couple hours of one of our signature golf courses with three of your closest rivals. With over 50 local courses designed by professions such as Donald Ross, Jack Nicklaus, and Davis Love III, I promise you will be more than challenged no matter what your skill level.

No doubt by nightfall you are looking for something considerably less active and more relaxing to bring a wonderful day to a close. Why not take a blanket, a bottle of wine, and some hor’dourves out to Koka Booth Amphitheatre at Regency in Cary and listen to the relaxing music from the North Carolina Symphony? While the adults enjoy some good conversation and light music, the children can run throughout the hillside and use that last bit of energy they have for the day.

While I’d admit I am a bit of an outdoor enthusiast, there truly is something in our area for everyone. Even during the hottest of days, there are plenty of ways for you and your family to stay cool and away from the heat. If some of my favorites do not peak your fancy, feel free to drop me a line and I am sure together we will find something to fit your lifestyle.

2007-08-11T10:35:00.000-04:00

Ohhhh, what a week we’ve had! I feel like everywhere we turned we hear how bad our economy is. The market is crashing, investors aren’t spending money, and the housing market is moving in reverse…what are we to do? This is being broadcast to us from every media outlet and sending panic through nation. Three particular pieces caught my eye this week and sum up this fear I am talking about…

On Friday the European Central Bank (ECB) pumped extra cash into the system for a second day in a row, as a means of calming nervous traders. The ECB added $83 billion in liquidity Friday.
The Federal Reserve followed suit, adding $19 billion in temporary reserves. The move was the biggest single temporary open market operation in four years, the New York Federal Reserve said, according to Reuters.
Mark Zandi, chief economist of Moody's Economy.com, had been loath to call it a "credit crunch." Instead, he called it a "liquidity squeeze," that had spread to corporate bond and other financial markets.

Standard and Poor's chief economist, David Wyss, and Moody's Economy.com's chief economist, Mark Zandi, have forecast 8 percent price drops in the housing market, peak to trough.

I often get jealous while times like these are upon us and hear a story of a place in the country that is the exception to the news. You know, that one place defying the odds and managing to actually expand their wealth?

Well, cheer up Raleigh, because we are that place right now! Ours homes are appreciating and businesses are thriving. Here’s what they are saying about us…

“This scenario is also playing out in Raleigh, N.C., the No. 1 city on our list. Moderate growth and disciplined building over the last five years prevented the market from developing a significant glut. Additionally, a strong local economy has helped contribute to the city's healthy 1.6% vacancy rate.
What's more, the rate of home sales against home inventory was healthy in Raleigh; in this category, it ranked fifth best of big cities, according to Moody's metrics. Even though the market has low vacancy to begin with and displayed strong construction restraint during the housing boom, Raleigh still has the eighth best rate of tightening.” (Forbes Magazine, July 2007)

Take a moment at pat yourself on the back Raleigh, because they are saying we did it right! We planned well, built well, and executed well. We managed to stay the course and create a place everyone wants to live and do business. Be proud when you hear we are of one of the most envied places to live in the United States and thankful of those around you for helping it to happen.

Raleigh #1 Home Selling Market

2007-08-02T15:08:00.000-04:00

Raleigh was named the #1 Home Selling market in the nation by Forbes Magazine. That’s good news and bad news for us. The good news is our homes are selling! We are in a very fortunate position in relation to most any other part of the country right now. Check out the Forbes.com article below...

http://www.forbes.com/2007/06/21/home-market-seller-forbeslife-cx_mw_0622realestate_print.html/

No. 1: Raleigh, N.C.
The only housing bubble in Raleigh is the one that separates it from slumping markets nationwide. A robust local economy continues to yield high job creation figures and migratory outsiders. It ranks fifth best in sales rate to inventory and eighth best in year-over-year tightening, despite its low vacancy rate of 1.6%. Sellers don't have to look too far to find an interested buyer.

Top 20 Appreciation Subdivisions Report is Out!

2007-07-30T13:55:00.000-04:00

Average Appreciation in Top 20 Neighborhoods:

BOYLAN HEIGHTS, 14%
BRIER CREEK, 12%
BUDLEIGH, 12%
NORTH HILLS, 11%
MORDECAI PLACE, 10%
HISTORIC OAKWOOD, 10%
SUNSET HILLS-RAL, 10%
QUAIL HOLLOW, 10%
DREWRY HILLS, 10%
CRESCENT RIDGE, 9%
GLENWOOD NORTH, 8.5%
ALEXANDER PLACE, 8.5%
BLOOMSBURY, 8%
LAKEMONT, 8%
SHERWOOD GREENS, 8%
GEORGETOWN NORTH, 8%
HERITAGE PINES, 7%
WOODLAWN, 7%
TOWN HALL COMMONS, 7%
MACGREGOR DOWNS, 7%

Call Sara to visit any of these subdivisions or send an email to subscribe to the Nosey Neighbor Campaign and receive an automated email anytime there is a new listing in your neighborhood of choice!

Rental Property Anyone?

2007-07-30T10:21:00.000-04:00

Good Monday Morning!! It is going to be hot this week. If you are on vacation GREAT. If you are working out in this weather take it easy and stay hydrated.

As you saw in the last Blog, homes for sale in Raleigh NC are continuing and our market is strong, despite the down market the nation is experiencing as a whole. With this many foreclosures and the subprime lenders tightening their belts, more and more people will be in need of RENTAL PROPERTY. This may be the time for you to purchase rental income properties. Most bank foreclosures are listed in the MLS. Search on our site. www.SaraSoldItAgain.com or call directly at 919-846-3218!

Thank you all for the referrals you have sent my way, it is greatly appreciated!

Top Home Sellers' Markets

2007-07-07T10:22:00.000-04:00

As the market unravels in other parts of the country, our local Raleigh real estate market remains strong! Raleigh, NC was ranked by Forbes.com as the No. 1 city on the Top Home Sellers' Markets list...

"Moderate growth and disciplined building over the last five years prevented our market from developing a significant glut. Additionally, a strong local economy has helped contribute to the city's healthy 1.6% vacancy rate." Check out the story here...

http://www.forbes.com/2007/06/21/home-market-seller-forbeslife-cx_mw_0622realestate.html?partner=email

Stop the NC Home Transfer Tax

2007-06-29T10:17:00.000-04:00

Dear Buyers and Sellers: Please take a moment to review the facts (http://www.itsabadidea.org/content/page/id/22). The proposal would require homeowners who sell their property to pay an additional tax. That includes people who are forced to sell because of a variety of life circumstances such as death of a spouse, divorce, job loss or military deployment.

Overall, it is simply unfair to single out just people selling their property to pay for infrastructure and services that benefit the entire community.

Some say this is a tax on growth. However, it is the current homeowners who sell who pay this tax, many of whom have lived here and paid property taxes for years. If revenue is needed for services and infrastructure that will benefit everyone, then everyone should pay their fair share.

Local government advocacy groups are saying that citizens need to vote on this issue. Personally, I elected my legislators to make the right decisions on tough issues, with my input. I oppose the transfer tax and citizens just like me have been voicing their opinion about the transfer tax for several months now. Two statewide polls show that approximately 80 percent of the public opposes the transfer tax. Over 40,000 emails have been sent to state lawmakers opposing the transfer tax. Please listen to our opinion and vote NO on this tax on homeownership.

Simply put, no matter how you look at it, this tax is unfair. Vote NO on the proposed transfer tax.

The Raleigh Real Estate Review Kick-off!

2007-06-26T10:44:00.000-04:00

You have discovered the #1 spot for a Review of Raleigh Real Estate!

This is the first in a blog series that I have directly linked into the SaraSoldItAgain.com website. There is so much press about the Raleigh real estate market and real estate in general that I wanted to make sure we had a platform for summarizing the home buying and selling process. The goal is to post Triangle trivia weekly as issues are evolving - information involving the local housing market, home buying and selling tips, law of agency (both buyer, seller, and dual agent) Wake County schools, zoning issues, Midtown Raleigh developments, etc. Join me every Monday morning as I post the latest and greatest news about our market in my "Monday Morning Coffee" series. If you would like to receive this information via email send me a quick email with "Monday Morning Coffee" in the subject line.

Thanks for checking in!