I know. I always say I’m not going to make New Year’s resolutions this year. But here I go – again.
1. Appreciate my Family & Friends. Always. I will stay in touch with my friends and be there as support whenever they need me. I don’t know how I would have handled some of the sad things in my life without the support of my family and friends. I will be there for them and look for ways to show my appreciation.
2. Never underestimate the power of a kind word or deed. A friend once told me to “always do the right thing.” We all know what the right thing is – we can tell by the way it makes us feel. It’s just easy to ignore it sometimes because we get busy or think we can’t afford it. You can’t afford not to do the right thing really. When it comes down to it, kindness is reward in itself and good karma is hard to find!
3. NO WHINING! No one wants to hear it and there is no excuse. If you set your mind to it, you can accomplish anything. People have survived great odds and still achieve their dreams. It’s a matter of motivation. Put up or shut up.
4. Get in better shape. I will not go up a dress size in 2011. I will go DOWN a size and eat a healthier diet! Everyone feels better when they exercise. A healthier physical me will lead to a healthier mental me. And we ALL need better mental health…
5. Follow my business plan. I make a business plan every year. I am meticulous about it. Probably has something to do with my background as a budget analyst. I resolve to follow my expenditures and if there is no gain, I’m stopping the pain. As realtors we are often besieged with marketing offers that don’t generate any business. No more.
6. Get organized and de-clutter my life. I tell my clients to de-clutter constantly before they put their house on the market. I need to follow my own advice and organize my life. Clean up all the superfluous crap that only gets in the way. File it, act on it, or trash it.
7. Always price to market and don’t let the home owner persuade me to market it at an unreasonable amount. Buyers will not overpay for a home and the seller loses valuable time pricing it over the market. Don’t assume that a higher price means higher quality. Buyers see the competition and know when it’s over-priced.
8. Be my husband’s best friend. He’s my best friend and I know I sometimes take him for granted. We are not on this earth to stay. Time is short.
9. Do the car maintenance. I resolve to keep my vehicle on a regular maintenance schedule. I already keep track of tire mileage and road mileage. I just need to stop procrastinating and do the oil change thing. I know, I know. It’s the most important thing I can do for my car. But what a pain.
10. Post and review my New Year’s Resolutions daily. You can’t know if you succeed if you never track yourself. Here’s to day number one!
New homes in Cary are doing very well in the last 30 days. With the exception of Lochmere, the majority of the home sales between November 6 – December 6 2010 have been new homes. One reason for the increase in new homes is that builders are actually negotiating price and upgrades. In the past, new home communities have rarely lowered prices to close a sale, choosing to use upgrades or appliances to sweeten the deal. However, with large inventories and a weak economy, builders are more lenient on negotiating purchase price decreases.
The most new homes sold last month in Cary were in Greystone with an average listing price of $397,548 and an average sales price of $380,798. That’s a savings of 4.2%! The Gables at Greystone is located in West Cary, convenient to the Research Triangle Park, shopping, and the area’s universities. Here are some great homes for sale now in Greystone.
Another neighborhood that did well with 6 sales last month is Stonebridge. Stonebridge is also an MI Homes community with a lower price range than Greystone starting in the mid $260’s. Located in South Cary, Stonebridge is offering up to $20,000 in upgrades for a limited time. Here are the current inventory of homes in Stonebridge Average sales price in the last 30 days for Stonebridge was $289,199 while the listing price averaged $301,491. Again, the price to list savings was 4.1% - very close to the Greystone savings.
Coyotes in Cary - 11/15/10
Who would expect Cary to have coyotes? But it’s TRUE! Coyotes have been spotted in the prestigious subdivision of Preston recently. Sitting down with 2 Preston residents, I was shocked to find out that both had seen a coyote lurking in the back yard!
After speaking with two wildlife removal specialists from Trutech, Inc., I found out that coyotes were not uncommon in Wake & Johnson counties. The coyote sightings in Preston even made the local news in May of this year. Not to mention that runners in Umstead Park in Raleigh have also sighted coyotes.
Unfortunately, both Trutech and Animal Control say that there is little you can do if you spot a coyote. Coyotes are considered wildlife and unless they are sick or injured, they are not allowed to be trapped. So make sure you’re kitties and small pets are indoors at night or it can get Coyote Ugly!
Rentals in Cary, NV - 1.4% Increase in Price - 11/5/10
I recently did a market analysis on the rental prices and supply in Cary, NC. (Having once been a financial analyst has made me geeky that way.) I was a little surprised at the seller's market there is for rental homes in Cary! If I compare last year's average price of $1,367/month to this year's average price of $1,386. I only see a 1.4% increase in price. However, these properties were only on the market an average of 34 - 43 days.
As an investor, I find 1.4% a little promising since I'm definitely not getting that on my savings account these days. Plus, the tax write off for depreciation will hide any slight gain that I have. It's not aggressive growth, but I'll take any growth these days!
As a realtor, any market that has less than 6 months supply is considered to be a seller's market. Today there are 122 active rental listings in Cary on the multiple listing service. In the last 30 days, sixty rentals have closed creating a market absorption rate of 2 months of supply (122/60). There is probably even less than that since the average rental rate has stayed pretty consistent at from $1,330 - $1,416 and the inventory is running an average $1,692/month. There is a larger amount of larger homes still available that have skewed the rental price a little.
So, if you are interested in renting in Cary, be certain to start looking early! You don't want to be forced into a more expensive space for a short-term solution. A $1,692 mortgage payment could buy you a lot of house!
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Pittsboro, NC - Big Bang for the Buck 10/06/10
Recently, I was showing an out-of-town client the greater Triangle area and had the pleasure to visit Pittsboro. Just 20 minutes southwest of Chapel Hill, Pittsboro is a small community that is the home base to a diverse mix of executives, professionals, students, and retired persons. Pittsboro has a funky kind of eclectic vibe with an historic downtown filled with artsy antique and novelty shops. The first Sunday of the month, downtown Pittsboro has a mini street festival with local artisans setting up booths along the street and free music!
Despite its popularity, Pittsboro is still quite a value in the Greater Triangle area. In the last 20 years, Pittsboro has experienced tremendous appreciation at a rate of 219%. According to neighborhoodscout.com, the average yearly appreciation has averaged 11.54%! With the median sales price of $212,000, that is quite a deal! We visited during the Parade of Homes and found some great buys and excellent construction. The Parade of Homes is going on for the next couple of weekends in October and you can definitely find something that suits your pocketbook.
Pittsboro also borders Jordan Lake, a huge 46,768 acre lake and recreational area that provides water to the surrounding areas. There are plenty of camping facilities available for the outdoor enthusiast. If you're not excited about the great outdoors, you are only 20 minutes from Southpoint shopping center in Durham! Whether it's shopping, hiking, Broadway Series plays, or museums, you'll be able to reach it in minutes from Pittsboro. So come on out and visit the Pittsboro area
and if you need a guide, just give me a call!
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De-cluttering is the First Step to Staging Your Home 9/25/10
Simplicity is the key to staging your home. As a real estate professional, it is my job to stage your home so that any buyer can walk in and immediately envision it as their own. If there are excessive pictures, knick-knacks, lamps and furniture, the buyer will have trouble seeing the room without them. It will also make the room feel cramped and small. Removing these items will open up the room and make it seem spacious.
De-cluttering is definitely no picnic. I mean, who truly wants to spend their weekend hauling boxes to storage or Goodwill? However, the payback on de-cluttering is HUGE. U.S. Housing and Urban Development reports that a staged home sales price is approximately 17% higher than an unstaged home. Compared to a mortgage payment and utilities, a monthly storage fee is a no-brainer.
So start packing up that clutter in the bonus room! Not only will you feel better when it's done, but you may actually earn a few dollars! Have a neighborhood yard sale and earmark your earnings towards paying some movers when you sell your house! Now that's money well spent! |
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$8,000 Home Buyer Tax Credit Isn't Dead in NC! 9/24/10
I know you thought that the $8,000 tax credit had expired, but here in North Carolina we still have options! The North Carolina Housing Finance Agency has a down payment assistance program that will give the home buyer up to $8,000! Here are some of the details of the program:
$8,000 Down Payment Assistance Program
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0% Interest and Deferred for 30 years
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Must be Re-paid upon Sale, Re-finance, or if no longer Occupied
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Down Payment Assistance must be used with the NCHFA FirstHome Mortgage
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Can be used for Down Payment, Closing Costs or Pre-Paids
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Home must be build after 1978
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Can be Combined with other City/County programs
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Income limits apply
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Credit Scores can be as low as 600!
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Max Borrower rations of 33/45%
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Borrower must provide $1,000 of own funds
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Sales Price Limits up to $210,000 depending upon the County
For as little as $1,000, you can become part of the American Dream! Please call me for details! |
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Top Ten Reasons to Buy Now 9/23/10
Despite all the negative hoopla you hear from the media, it is still a great time to buy a home. Even the Wall Street journal agrees that this is probably the best market ever for buyers. The numbers still favor home ownership vs. renting and here are the top ten reasons WHY:
- You can get an awesome deal! Prices are down all over the country. Even in markets relatively stable, like NC, prices have fallen making it affordable to more people.
- Mortgage rates are at an all time LOW! And I mean LOW! You can get a 30 year mortgage at 4.375% which is 20% lower than just 2 years ago!
- Tax deductions! Interest and property taxes are tax deductible dipping your payment lower than most rental rates for a comparable home. These 2 items are your largest tax deductions on your itemized Schedule A. Owning a home can actually reduce your tax rate!
- You can buy a better home! With prices down as well as interest rates, you can buy more home for your money. A general rule of thumb is for every 1% decrease in interest rate, you will be able to buy 10% more home! For example, if your interest rate went down 1%, you could afford a $220,000 home vs. a $200,000 home.
- Inflation protection. In general, appreciation will outpace inflation over time.
- Making your payment every month forces you to save. Plus, you are gaining equity with each payment.
- You can do whatever you want (within Homeowner Assn guidelines). It is all yours and you can cater your home to yourself. No landlord to worry about!
- There is a HUGE inventory of homes to choose from! You are more likely to find the home of your dreams at the best price right now!
- This down market will end. The U.S. is still growing and demand will overcome supply again. It's all part of the ups and downs of the housing market. Things will pick up and when they do, you can sell your home for more than you paid for it. Just remember, real estate is a long term investment just like stocks. You have to hold it for more than a year or two to see any appreciation.
- Wealth Accumulation. Home ownership is a central element of wealth accumulation for most Americans. For approximately half of homeowners, equity in the home (home value minus mortgage debt) accounted for at least half of their total wealth.
So don't listen to the nay sayers! Please visit me at RDUHOMES4U.com and start shopping. After all, it's the great American way!! |
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Linda's Blog
