Chapel Hill NC Home Blog

Once again Durham and Raleigh ranked high in Forbes Magazine’s annual ranking of the Best Places for Business and Careers.  Durham ranked No. 3 while Raleigh ranked No. 1 for the third year in a row.  The rankings were based on “strength of job growth, low business costs and a highly educated workforce”.  Durham and Raleigh’s strong economy are always strengthened by Research Triangle Park and its nationally recognized employers such as Cisco and IBM.

Although layoffs are a given in this economy, the Triangle area still remains attractive to businesses.
and let’s not forget those Tar Heels…

Until next time…
Staci

According to federal statistics released last week, Raleigh and Cary make up the fastest growing metropolitan area in the country. The combined population of Raleigh aka North Carolina’s capital city and Cary aka its family friendly suburb increased by 4.3 percent between July 2007 and July 2008. The Durham Chapel Hill area ranked 23rd with a 2.5 percent increase.

Growth in these areas is due to the area’s top hospitals, universities and nearby Research Triangle Park.  The RTP business complex have more than 50,000 employees and more than 170 research and development companies.

Out of the nation’s 100 fastest growing counties, 11 were in North Carolina.  Families are still attracted to the climate, the educational and economic opportunities that the Triangle area has to offer.

Although no area is immune to the current state of the economy, it’s nice to know that the Raleigh/Cary/Durham/Chapel Hill area is still growing.

If you would like more information about the area, feel free to call us toll free at 877-478-4669.

Until next time…

Staci

I wonder how many people are aware of the pollution problem at Jordan Lake.  Scientists first identified pollution problems around 1995 and they have only gotten worse since then.  Jordan Lake is not just for recreational use.  The lake provides clean drinking water to more than 120,000 Wake, Durham and Chatham County residents.  In addition, growth and development are taking their toll.

Environment North Carolina is a statewide, citizen-based environmental advocacy organization. They are working to win real results for Jordan Lake and to set the stage for how other lakes across the state will be restored.

When cities discharge treated sewage into the lake, it causes excessive algae, increases the cost of drinking water and threatens the lake’s ability to substain fish and swimming for years to come.  It’s also up to the boaters and other recreational users to clean up after themselves when leaving the Lake.

We can all be happy if we work together.  Development can still take place if the proper measures are in place to control runoff and sewage pollution.

I have been kayaking on Jordan Lake for several years.  I would much prefer kayaking in a clean body of water as opposed to a polluted one.  Wouldn’t you?

Looking forward to kayaking on Jordan Lake very soon.  How many more days until spring?

Staci

When surfing the web, I came across some information about mistakes home buyers make.  In this market, I thought it would be a good topic to discuss.

1. Waiting to Sell Your Home-It’s more important to sell your existing home before you commit to buying a new one.  It takes a lot longer to find a buyer than it would have a year ago.  With the current state of the economy, you don’t want to be stuck carrying two mortgages.

2. Your Credit Score-Every year you should obtain a copy of your credit report, especially if you plan on buying a home.  Most credit reports contain some type of error and it can take at least several weeks to have an error corrected.  Sometimes an error can disqualify you from a competitive interest rate or a mortgage altogether.

3, Skipping the Mortgage Preapproval Process-In a tight lending market, it’s important to shop around for a mortgage and get preapproved by a lender before you start looking for a home.  It’s not as easy to get a loan as it used to be.  Your mortgage rate will be based on how risky they feel you are.

4. Your Budget-It’s a buyers market.  Don’t be afraid to make an offer that’s below the asking price.  Also, don’t be foolish to walk away from a property you really like over a few thousand dollars.  I was involved in a situation like this in NY.  I was told as a buyer “You can’t make an offer like that, it’s too low”. I said “Yes I can, worse case scenario they will say no”.  I lived in that home for 7 years!!

5. Signing a Contract with Contingencies-Not only do you need to secure a mortgage, you also need to find a seller that is ready to move at the same pace as you are.  You don’t want to get yourself involved in a situation when the sale is dependent on the seller finding a new home first.

I hope these tips have helped you.  Good luck with finding the home that’s right for you!

Staci Green-Transaction Manager for                                                                      Masha Halpern & The Smart Move Team                                  www.TheSmartMoveTeam.com

While surfing the web, I came across some articles in Aol and Yahoo about mistakes home sellers make.  I agree with what they said so I thought I would discuss them.

1. Asking Too Much-if you price your home too high, you risk turning away potential buyers (especially in a slow market).  Your home is worth only what someone is willing to pay for it.  When real estate times were better, it was easier to get comparable prices going back 6 months.  Because market prices have gone down, now you must compare prices for similar properties currently on the market.

2. Questioning the First Offer-Sometimes the first offer might be the best offer.  You can’t assume you will get a better offer the longer you hold out.  It’s actually the opposite-the longer your home sits on the market, the greater chance a seller will have to reduce his/her price.

3. Failing to Respond to All Offers-If you get an offer that is too low, do not reject it.  See if you can negotiate.  It’s a buyer’s market right now so they have the upper hand.  If you really need to sell your house, it will cost you more money in the long run if it sits on the market for a long time.

4. Paying for a Home Stager-You want your property to stand out but I don’t think it’s necessary to pay someone to stage your home.  Not everyone can picture how a home will look after they have added their own touch to it, so if possible, keep the walls clean and bright, get rid of the the clutter and knick-knacks and make all necessary repairs, even the smallest of problems, before buyers enter your home. A clean, neat, bright home gives off a much better vibe than a dark messy home.

5. Picking the Wrong Buyer-After the recent national mortgage disaster,  it’s especially important to choose the right buyer.  Choose someone with a prequalification letter issued no more than 4 to 6 weeks ago.  Also watch out for a buyer who needs a contingency (stating the deal won’t close until they sell their own home).  The best buyers are first time home buyers who qualify for a mortgage in advance or someone who has already sold their existing home.

I hope these tips have helped you.  Hopefully you will have a smooth transaction when it comes to selling your home.

Staci Green-Transaction Manager for                                                                       Masha Halpern & The Smart Move Team                                  www.TheSmartMoveTeam.com

There are many opinions about whether to have a Real Estate Open House to sell your home; the agents perspective, the sellers perspective and the buyers perspective. 

Many sellers loves open houses.  They only see the upside. They think it’s the key to selling their home.  Other sellers are skeptical and see it as a security risk.  Do you want strangers that may only be lookers wandering around your home, especially if they are not represented by a Licensed Real Estate Broker?  Many sellers prefer to open their homes to serious buyers only.

Most buyers these days rely on the internet or their buyer’s agent for their home search.  There are large amounts of internet listings and online real estate information that buyers can obtain at their own convenience that will save them time.

The majority of home sales come from contacts with other real estate agents, from the local MLS (multiple listing service) and from the selling agents/listing agents website.

If an open house is held too often, it may send a signal that the house is a tough property to sell.

As you can see, there is no right or wrong, but it my opinion, an open house should be used as a last resort.

Believe it or not, now is a good time to buy a home in North Carolina.  It’s true, the economy is not doing well, but prices of homes have dropped well below their value.  Lower prices means better affordability for those interested in buying.  If houses have been sitting on the market for a long period of time, sellers may be more eager to sell at a lower price.

If you are interested in selling and would like a free comparative market analysis of your home or you are interested in purchasing a home, contact our team and we will provide you will all the real estate information you need.  We serve the Chapel Hill, Carrboro, Durham, & Raleigh, North Carolina area.

Masha Halpern & The Smart Move Team                                                       “Make your move The Smart Move”                           www.TheSmartMoveTeam.com                                         www.chapelhillhomefind.com                                              www.mashahalpern.com                                                                                       toll-free (877) 478-4669