Lynne's Blog

 If you are tired of neighbors only feet away from your space, there are some really nice houses in the Chapel Hill and Carrboro NC area that give you privacy yet have a neighborhood.  1 acre or 10 acres!  Large lots, lightly wooded, easy access to Chapel Hill and Carrboro.  Check these  3 out! 

 Here is a chart showing the history of interest rates since 1972. They are currently the best they will most likely be especially since, come March 31^st the government’s program to buy mortgage backed securities will be ending and all economists are predicting rates to go up after that. With the rates where they are and home prices being held down and with the IRS’s tax credits expiring APRIL 30^th (for written contracts to close by July 1^st), there is little time to spare to find a home! Use our search function to see what might be of interest to you and then email us or call us to assist you in your search. Chart provided courtesy of John Tyrrell of Chapel Hill NC.   Click on "Read More" below to see graph showing rates from 1972 to present...

 If you missed the November 30th deadline of the First Time Buyer Tax Credit, you have one more chance!  You have until April 30, 2010 to get under contract for your first home but you must close by June 30.  There will be little chance of this deadline being extended again.  Call your accountant to get see if you qualify. 

  Add to YOUR nest egg! A new tax credit for home buyers was enacted November 6^th creating incentives for current home owners to buy a new home! $6500! If you have owned and lived in your current primary residence for at least FIVE consecutive years of the past 8 years, you could be eligible! To get the $6500 tax credit your new home does not need to be more expensive than the old home.

The Senate will consider a bill early this week proposing an Tax Credit extension and expansion due to expire November 30^th. The tax credit has been for first time buyers only and for $8000. This bill which is due to hit the Senate for a vote by November 3^rd will extend that deadline until April 30^th 2010 AND will add another tax credit for “move up” homebuyers. That credit will be up to $6500 IF that buyer has owned property within 5 of the last 8 years! And the income limits have been raised. 

There are many homes in Chapel Hill and Durham available in the "move up" category!  Don't miss this opportunity!  We can set you up to receive regular instant MLS updates on houses as they come available.  Email us or call us to discuss your criteria so we can best serve you,  Or search on your own here. 

See the details below:

 Beware townhouse owners!  Check with your Homeowners Association or Property Management Company to see if your townhome's structure is properly insured in case of fire!  You may think you are insured but there are more and more HOAs not covering property insurance - just liability on common area.

 Loans for the higher end houses have been hard to get since the economic crunch began.  Good news is that banks are beginning to ease up a little on the recently imposed stringent requirements and rates.  And there is a prediction from our loan officer that the easing will continue.  

 Live in the Chapel Hill, Orange, Durham, Wake or Chatham County NC area? Get a regular conventional loan and renovate your “new” house! As little as 5% down plus closing costs may be all it takes if the loan is under conforming loan limits ($417,000). Closing costs and interests rates are a little higher than a loan without the renovation money included.   Or get an FHA loan with only 3.5% down (closing costs and rates are also a little more than non-renovation loans). FHA loans, while requiring less down payment, have loan amount restrictions based on county location.  See how this works...

BEFORE

 FOR SELLERS:  Considering selling soon? Don’t have the cash to update? Here is a story of a seller who couldn’t sell their house at their $420,000 listed price but after $30,000 of renovations sold it for $495,000 - the first week back on the market. And now there is a Renovation Loan available to help sellers update their houses so they too can make more money!

See the "AFTER"!...

Buy a house. Update it. Need cash to update? Use a Renovation Loan! Buying an older home that may need an updated kitchen? Or Bath? Or both? Or is the carpet old and needing replacement? Up to now you had to pay cash to renovate a home in addition to cash for your closing costs and down payment. Now there is a new loan called a renovation loan available through our affiliate, HomeServices Lending. available in Chapel Hill, Durham, the RTP in North Carolina and surrounding areas.  See how it works…

My seller is constrained in a wheelchair by MS. But he can tell a good story! He can keep me laughing! Over a glass of wine one night he tells the story about his dog and adopted friend. Who says buyers and sellers can't find a ways to get along?  Take a lesson from the animal kingdom...

 I had the good fortune to be introduced this year to people needing to sell their home here in Chapel Hill NC. He has had MS for over 30 years but has not lost his ability to tell jokes, carry on wonderful conversations or smile. Despite all the workload falling on her, she too was always smiling and looking at the positive. We sold their house after only 5 days on the market and like most sales these days had a bit of a tough negotiation but in the end seemed to get a fair price for both sides. But at that point they were only names on the contract. Not faces. Not real people. Then life took over…

Spread the word about this great opportunity to have a 10 acre home on beautifully landscaped property! Sunny and open yet fully encircled by woods creating utmost privacy. A big vegetable garden fully fenced. Horses allowed. And, being level land with partial clearing, it is ideal for your own horse. It is only 15 minutes from Chapel Hill NC. Over 2600 sf for less than $500K!  Read further to see aerial view.

 An interesting point to consider from a real estate attorney in Chapel Hill NC.  It seems that the interest rate charged on equity lines of credit for purchases is typically higher than for equity lines secured once someone owns their property. 

 Once a small mill town, Carrboro has become sought after for its community lifestyle. The old mill was converted into a quaint shopping “mall” in the 1980s retaining the old wood floors, high ceilings and beams and the old brick exterior.   Elmo’s Diner has been a favorite restaurant for affordable food – breakfast to late night. Weaver Street Market, a cooperative food store, also offers affordable high quality self serve food for eating on one of its outdoor picnic tables on the green or inside. You don’t want to miss Thursday nights for wine and music on the lawn or the Sunday morning Jazz Brunch. Check out some other wonderful restaurants in Carrboro.

 Carrboro, NC is full of interesting things to do. The farmer’s market every Saturday morning has become one of the biggest attractions to the Chapel Hill and Carrboro area. Colorful interesting people. Wonderful fresh vegetables, meats and cheese. Handcrafts. Flowers and plants. I never can go to the farmer’s market without meeting someone I know. People come on bikes, walk or drive. They bring their dogs and "park" them at the entrance.  It is centrally located right next to the Carrboro town hall. 

A short walk to banks, grocery, restaurants, coffee and more, Meadowmont provides a great opportunity for people who would like the convenience of townhome living in a walkable neighborhood.  These luxury townhomes are nearly new, very spacious and quality built.   Whether it is for a quart of milk or to pick up your medicines, do your banking or simply relax at an outdoor café, you are right around the corner.  Also close to the University of North Carolina and minutes to RDU International airport.