Lynne's Blog

Raleigh area #2 in country for real estate rebound according to The Today Show

Raleigh NC and its surrounding area is the place to live! I personally have been seeing a number of houses selling particularly in the first time buyer price range in the Triangle Area of North Carolina. And Barbara Corcoran, The Today Show's real estate expert, has confirmed what we are seeing. This area has the ingredients - good job market, well educated population, a great climate and more. See the video clip. Check out our Search Homes feature to see available properties that fit your criteria.

Selling your house for more money in the Triangle area

Market statistics for 2009 in the Triangle area in North Carolina show the importance of condition and pricing. Houses that show well and priced right are selling for 11% closer to the initial asking price and in 66 days less time according to local real estate statistician Stacy Anfindson. Here are some tips for selling your house sooner and for more money if you live in Chapel Hill and Hillsborough, Durham, Cary, Raleigh or Chatham County.

Houses sell quickly if fixed up and priced right!

Stats are now available to demonstrate the importance of getting your house ready to sell and pricing it properly! Wouldn’t you prefer to sell in 49 days vs. 115 days? And get 96% of your listed price rather than 85%? The Triangle area of North Carolina's statistical expert, Stacy Anfindson of the TARR Report shows the importance of pricing and condition to sell in this market. You can forget about the concept that the buyers can choose what they like! Buyers can’t visualize the end product and will discount heavily what has to be done! Here is what you need to do to put the money in your pocket.

Statistics are now available in the Triangle area in North Carolina to demonstrate what we real estate professionals have been preaching to sellers forever! Price and condition! Houses that show well and are priced well show a big statistical advantage over other houses. It affects Days on Market (DOM) and % of listing price. And, yes, if the condition is good and the price is fair, you can even find multiple offers on your house! This Spring I was involved in FOUR multiple offers! And we sold one of our listings in the FIRST week! Those were in great condition and properly priced. Price range does have something to do with that – first time buyer properties have many more prospects than do the higher priced homes. How much of a difference does pricing/condition make? There are actual statistics that show this...

How is the Triangle area of North Carolina doing with home sales? It’s not as bad as the average person thinks from what they hear on the news. According to our local real estate statistical guru, Stacy Anfindson of the TARR Report®, four counties in the Triangle (Chatham, Durham, Orange and Wake) are still showing appreciation in sales prices from a property’s prior sale, (“the average percent per year change when comparing either the two most recent sales price of the same house, or the list price/most recent sales price of the same house.” - Anfindson Spring 2009). These statistics are as of the end of the first quarter 2009.

A Mortgage Credit Score?

FICO scoring seems to be adding a new dimension for those getting mortgages! Hidden in some newscasts was an announcement that there would be a new way to “score” people – called the BEACON® Mortgage Score.

First time Buyers get an $8,000 credit THIS year! There are certain criteria that a buyer must meet in order to qualify. We highly recommend contacting your CPA for the details, but here is what we understand.

Understanding Tax Revaluations

Understanding tax assessments and tax rates can be a challenge in a reassessment year! If you are looking at the information for a property in the Multiple Listing and you are trying to figure out what the taxes will be, CAUTION!

Rates hit an amazing 4.5% for 30 year conforming loans today! This is part of the Feds' efforts to stimulate the real estate market. It follows an announcement by the Federal Reserve to inject money into the mortgage-backed securities and bond markets. There are some caveats, however! While rates are low, banks expect higher down payments and very good credit in order to take advantage of these great rates.

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