WHY BUY AND/OR SELL A HOME IN WINTER?

Winter weather usually has everyone hiding indoors—waiting for the spring to start the home buying and selling process. If you are interested in buying or selling a home, don’t wait! There are plenty of advantages to buying and selling during the winter season.

LESS COMPETITION
Many people wait until warmer months to come around to get the ball rolling on house hunting and staging. This means you are going to have a lot of competition. If you can tough out the cold, you may find yourself putting up less of a fight for the home of your dreams.

MOTIVATION
People who buy and sell in the winter are not typically looking to just get an idea—they know what they want. If people are taking the time to stage and hunt during this season, it usually means they are serious and want to close before the competition rolls around in the spring.

GET LOANS FAST
With less people applying for loans because winter is a less competitive season, lenders are going to be less busy. Which is good news for those that do decide to buy and sell; you will get the undivided attention and service you deserve.

SHOW OFF COZY QUALITIES
Take advantage of the snow on the ground if you are selling—show buyers distinct aspects of your home that may pose more appealing during the winter like a fire pit, fireplace, insulated attic—anything to grab their attention.

Buying and selling your home doesn’t have to be long and arduous, check buying and selling your home off your list of things to do this winter!  Call me & I will share my experience & knowledge with you to achieve your real estate goals.

3 Things to Consider Before Listing Your Home as a Short-Term Rental

The Age of Sharing is here, and it’s a phenomenon that’s expected to grow from $15 billion in 2014 to $335 billion by 2025, with services such as home-sharing and maintenance platforms being a big part of that equation. Many homeowners have seen big economic benefits over the years from home-sharing platforms like Airbnb, but if you’re thinking about jumping in to get a piece of that pie, there are a few things you should consider first.

Know Your Regulations
Not all cities see the home-sharing phenomenon as a win-win. Many municipalities are passing new regulations that are often designed to curb its growth. Before signing up for a service like Airbnb, you should find out a few things. Does your city have a framework for short-term rentals? Are there any legal restrictions? How expensive is licensing?

This is critically important, because ignoring licensing regulations can be very costly. In Portland, Oregon for example, the city implemented fines of $1,000-$5,000 per violation for home-sharing operators. In 2017, it collected over $70,000 in fines and fees from a single operator who was found to be in violation of the city’s regulations. 

 Know Where You Live
Cities are made up of distinct neighborhoods, and people are proud of where they live, so, you'll want to think carefully about the impact of a short-term rental on your neighbors before moving forward with your plans. Will the locals have to compete with guests for on-street parking? Will they feel less secure with strangers coming in and out?

You don't need to get permission before renting rooms, but as a courtesy, you'll want to let anyone impacted by your decision in on your plans. You'll also want to establish clear house rules and expectations, especially about noise or late-night outdoor socializing, for your guests. 


Know Your Coverage
You’ll hear horror stories in the news regularly about a home-sharing rental gone bad. In London, a short-term renter threw a party for 100 people, unbeknownst to the homeowner, during which floorboards were ripped and a television pulled off a wall. In another widely-reported example, a short-term rental unit was used as a pop-up brothel. Stories about experiences as bad as these are extremely rare; however, they serve to remind us about the financial and legal risks for hosts who allow strangers into their home. It's important to make sure you have the appropriate coverage if you don't already have it.

Home-sharing companies such as Airbnb or HomeAway offer basic insurance coverage, but what they offer may not be enough, or could be severely limited by exclusions. Your best option is to ask your insurance provider about the nature of the protection, liability coverage and deductible. For example, if you're renting out rooms at your primary residence, short-term, on a regular basis, it may be considered a home-based business, and you could be denied coverage. 

For more information on our Local NC Real Estate Market, be sure to visit my website:  The Smart Real Estate Agent

Even Gingerbread Men & Women Know!

2019 PROJECTIONS ON HOME SALES

Based on projections from some very reputable sources, residential real estate sales are projected to be more optimistic in 2019. 

Keep in mind that, in general, prices and activity are still at pre-2008 levels, which is a booming market!


Here are the sources for this information:

Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.

The National Association of Realtors (NAR) – The largest association of real estate professionals in the world.

Freddie Mac – An organization which provides liquidity, stability, and affordability to the U.S. housing market in all economic conditions extending to all communities from coast to coast.

Fannie Mae – A leading source of financing for mortgage lenders, providing access to affordable mortgage financing in all markets.

Here are their projections:

These national sources see home sales growing next year. For more on our local and neighborhood market, contact me.

SEPTEMBER 2018 REAL ESTATE MARKET FACTS

We had A most interesting September in Residential Real Estate this year (2018)!


I'm not going to keep you in suspense any longer - here is all the information:

Source:  Triangle Multiple Listing Service

Number of homes for sale:  DOWN 15.9%!
Number of sold homes:       DOWN 11.6%
Median Sales Price:             UP  6.5%

The average sales price for homes in the Triangle NC was $294,000 UP 4.1%.  Days on market to sale was 29, DOWN 9.4%.

BUYERS:  The percent of list price paid was 99.2%, up 0.2%.  This means you should expect to pay asking price or more, depending upon the advice of your Realtor.

SELLERS:  Where are you?  I've got buyers waiting to move here!  Give me a call right now & I will give you all the facts you need to make the Smart Decision.

Amazon is Coming to Garner, NC!

It's official, Amazon is bringing a huge distribution center to the Triangle, NC!

Project Axis, a four-story 2.6 million-square-foot high-tech fulfillment center at the old ConAgra site in Garner, has been identified as Seattle e-retailer Amazon (Nasdaq: AMZN).

"This is a great day for Garner, it's a historic day for Garner," Mayor Ronnie Williams says. "Today will be remembered as the day Garner entered into a new era of prosperity." 

Economic Development Director Joseph Stallings said the project means 1,500 jobs, $200 million in investment and $45 million in annual payroll. "Good things come to those who wait," he says. 

Stallings says pay for the jobs will “vary.” “Because there is a number of them, there’s going to be a wide range of pay there,” he says. “All of them will be market-based.”

And, major road improvements are planned for the site to mitigate traffic. The town is fronting $600,000 for those improvements, with North Carolina Department of Transportation funneling in another $4.5 million. “Because of this project, we’ll actually see more road improvements there that will better serve everyone,” Stallings says. 

The town went public with the declaration Friday, months after permits were first filed by a developer linked to Amazon, Hillwood of Texas. 

The plans are similar to what's already been outlined in permits with both the town and the state - a project that will be the largest in the North Carolina town's history.

The site permit has already been approved and the closing paperwork for the property is in the mail to an LLC affiliate of Hillwood, says town attorney Bill Anderson. And, in a matter of weeks, construction will start. 

Source:  Triangle Business Journal

Garner is a great place to live; with easy & quick access to Downtown Raleigh!  There are available homes in every price point. Would you like more info on real estate in Garner?  Get in touch & I'll send it to you right away!

SAVE ON NEW CONSTRUCTION HOMES! HERE’S HOW

New construction homes are booming here Tiangle, NC area. My clients have lots of questions and I'll bet you do, too.

Purchasing a new-construction home is different from buying a resale home. Here are some tips and items to keep in mind if you are interested in purchasing new construction.

SOME FACTORS THAT AFFECT BUILDER PRICES 

Most builder prices are influenced by the following:
• Location
• Cost of the Land
• Size of the Home
• Cost of Building Materials
• Labor Costs
• Real Estate Market Conditions
• Builder Impact Fees

DO I NEED A REAL ESTATE AGENT? 

Purchasing new construction is usually more complicated and intimidating than buying a resale home. You need experience to know what to look for.

• The burden of discovery of any/all defects is upon the BUYER in NC, not the seller! Have you checked everything out?

• Builder’s model homes are staffed by agents who work directly for the builder – NOT YOU. Who is looking out for your best interests?

**IMPORTANT** If you do view a community without your agent, be sure to tell them you are working with an agent on your FIRST visit. And, do not sign anything. If you do, you may lose the opportunity to have your own representation. You are free to view any property, just let me know in advance & I will contact the builder to let them know you are stopping by. 

WHAT ABOUT BUILDER PRICES? 

Surprise — builders don’t like to reduce their prices. If they do, it sets a precedence for future home sales.

• Builders are not like regular sellers. They are not emotionally attached to the property. All decisions are made based on their profit. They want you to PAY THE MOST for the LEAST.  You need an experienced NEGOTIATOR on your team!

**IMPORTANT** Some new-home buyers think that if they do not use an agent for their purchase, the builder will reduce the price of the home by the amount of the commission. NOPE! Instead, builders add the commissions paid to a buyer’s agent into the marketing budgets of the homes. If a buyer goes to a new-home builder without a real estate agent, either the builder’s agent or the builder will pocket that money. Your loss – their gain. 

HOW TO HANDLE THE BUILDER’S CONTRACT?

Most larger builders will have lengthy, attorney-written, intimidating-looking purchase agreements that cover all the minute details of the new-home purchase.

• Ensure you read through and are familiar with the purchase agreement. There can be a some naughty things tucked in there that may catch you by surprise later on when it’s too late

• If something is important to you and agreed to by the builder…get it in writing. In NC, in order for an agreement to be enforceable, it must be in writing.

WYSIWYG. 

Is that a typo? No, it is an acronym for “what you see is what you get.”

• Often the model home is the builder’s showcase home. The builder hopes you will like these upgrades and ultimately add them to the purchase of the home mostly because they have good profit margins for the builder.

• Find out exactly what options are standard, what options are available and, of course, what any additional options you want will cost. It adds up quickly.

SHOULD I PURCHASE A BUILDER’S MODEL HOME? 

Purchasing the builder’s model home can be an excellent deal as they include many great upgrades and features. So, sure, why not?

• Most of the above caveats apply here as they do to all new construction. Be aware of what is and is not included in this type of purchase. You should have an agent to help you negotiate these things.

RESEARCH THE BUILDER Not all builders are created equal. Do your homework, and get to know the builders, their reputation and what they offer.

• Prepare to spend many hours researching them and then comparing them to other builders. Or, contact me. I and my team have extensive experience with all the established builders and can make recommendations based on our experience.

DO YOU WANT TO USE THE BUILDER’S LENDER AND ATTORNEY?

Builder’s love it when a buyer uses their preferred lender. In most cases, they will even offer some enticing incentives to ensure a buyer chooses the preferred lender. Same for using their attorney.

• You should also shop around for YOUR best deal – remember none of these people work for you. They work for and are compensated by the builder. These folks just may have the best value for you, but you need to be aware that you have choices.

Contact me with any questions or comments you have. I’m also available to meet with you and review any new properties that interest you and provide you with the best of my years of experience.

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