Sunday, January 31, 2010

Selling Your Home in Wake Forest NC? Here's How I Can Help!

So many times potential sellers want to try and sell their home themselves (FSBO - For Sale By Owner) Why is that? Well, I have found, more often than not, that it is because sellers sometimes aren't quite sure what a professional Realtor® can do for them.

A professional, equipped and skilled Realtor® will assist you with a wide range of skills and aid you in making invaluable decisions during the real estate transaction. While the following list is by no means inclusive of all of the significant services a Realtor® will provide it is an outline of how you can most certainly benefit from employing a professional:

  • Pays for all marketing and advertising costs. Be sure to ask your Realtor® for their marketing plan.
  • Adds experience and expertise in all aspects of the sales process including, but not limited to marketing, negotiations and more.
  • Brings a network of known, trusted real estate professionals. If your Realtor® doesn't have the answer, he or she likely knows someone who does.
  • Always has your interests in mind so you always have someone on your side. Ask your Realtor® what the difference is between Seller's Agents vs. Buyer's Agents!
  • Handles and advises on all price and contract negotiations. A competent Realtor® will have prepared a rock solid CMA that will assist you with arriving at a List Price. For more information regarding CMAs/Market Analysis you can check out this post.
  • Gives an unbiased, realistic view of your home and your options. Unlike buyers and sellers, an agent has no emotional attachment to property. It is important to listen to your Realtor® when discussing the highlights and potential short-comings of your home.
  • Being an objective liaison, potential buyers are more likely to tell your Realtor® the truth about your home, even if it is unflattering. This un-biased viewpoint will help you make the necessary changes to get your home sold.
  • Your time is valuable. A Realtor® allows you to spend your time how you want.

Selling your home in Wake Forest NC can be a tricky and sensitive process. Most times it is best to remove yourself from the front line and allow an experienced and qualified Realtor® handle the process.

If you are currently contemplating selling your home in the Wake Forest NC Real Estate Market I can help! I would be happy to meet with you and review your options, current market conditions and my marketing plan with you. I am just a phone call away at 919.649.6128 or you can simply send me an email.

Remember, I live, work and play in Wake Forest NC - I know this market better than anyone! And, don't forget to check out my website, for some incredible tools you can use when preparing to sell your home!

Friday, January 29, 2010

Latest FHA Rules Update!

New FHA rules in a nutshell

  1. Changes are effective for case numbers assigned on or after April 15th, 2010.
  2. New upfront mortgage insurance premium (UFMIP) will be 2.25% for all purchase and refinance loans.
  3. The premium for H4H and HECM is 2.0%. H4H = Hope for Homeowners HECM = Reverse mortgages
  4. This change applies to all standard FHA Single Family Programs except the following: Title I, Section 247-Hawaiian Homelands, Section 248-Indian Reservations, Section 223e-Declining Neighborhoods or Section 238c-Military Impact areas in Georgia and New York.

Sunday, January 24, 2010

New Wayfinding Signs in Wake Forest NC

What's going on in Wake Forest NC with all the signs?

Wayfinding Signs!

Wake Forest NC Wayfinding Signs

Over the next few week you will see these gorgeous AND informational signs popping up all over Wake Forest NC. These highly anticipated signs will help to attract people to historic downtown Wake Forest NC businesses, help people, well, find their way AND will also include Welcome Signs for the downtown area.

While these signs will certainly be popping up in Downtown Wake Forest you will also see them on US 1A, NC 98 Hwy Business and many local streets. There will be approximately 15 signs in all!

Life in Wake Forest NC just got a little more direction.....

Wednesday, January 20, 2010

Even if You LOVE Vegas - Don't Be A Gambler in the Wake Forest NC Real Estate Market

If you want to sell your home in Wake Forest NC AND you contract me as your Realtor® you can be sure that you will receive a thorough, in-depth and detailed CMA prior to suggesting your listing price. Now, what I don't understand from past sellers is their need to take all of the work that I have put into that CMA and decide to gamble in the Wake Forest NC Real Estate market.

When I suggest a listing price it is based on several criteria:

  1. The CMA that I prepared for your home which takes into account the current listings in your neighborhood (your competition - fair market, foreclosures and short sales), the homes that are currently under contract (how long were THEY on the market, did they adjust their price, what was the Wake Forest NC Real Estate market like when they initially listed their home, etc.) and the homes that have sold in your neighborhood in the last 3 months. Notice I didn't say 6 months, 9 months or a year - that is just not relevant anymore.
  2. Your motivation as the seller to get your home sold quickly. Are you downsizing, relocating, upsizing, or are you in financial crisis and must sell.
  3. The condition of your home. Is it in pristine showing condition? (I'll reserve what I consider that for another post) Do you have curb appeal? What stands out about your home from the competition. And, no, just because YOU think your home is better than the competition doesn't mean that it is - you are EMOTIONALLY attached and viewing it through rose colored glasses shaded with sentimentality, warm-fuzzies and emotions.

When I suggest a list price it is because I have done the research, visited the competition, and evaluated your current situation. When a seller counters my list price suggestion with a higher price they are only gambling in the Wake Forest NC Real Estate market. I think they always think "what-if" - well, let me share with you some of the what if's if your home enters the market listed too high.....

  • you won't be taken seriously as a seller. Remember, buyers have BUYER'S AGENTS and they areWake Forest NC House Chick educated as well. They'll know the competition and realize that you are priced too high.
  • Once you lower the price you take a huge gamble that your home has become stale. You become THAT house. And, if you think that you can take the house off the market and relist it you CAN'T. Did you know that it is unethical in Wake Forest NC for a Realtor® to do that? Besides, MLS now keeps track of cumulative Days on the Market (DOM). Again, buyers will have a BUYER'S AGENT - they will know!
  • When you do lower the list price you may have very well missed a selling window. Let's say you list in the Spring - the prime time to get homes fresh and sparkly and on the market. You price too high, wait a few months and then decide to lower the price. You have just missed one of the best selling times of the year!

So, whether you choose me as your Realtor® in Wake Forest NC or another - trust them! It's why we do what we do!

  • Ask questions - I, personally, love to involve sellers in the process.
  • Trust - the highest respect I can ask for is your trust!
  • Listen - one of the pillars of the foundation of a professional relationship is listening

Wake Forest NC Real Estate marketAnd, if you ARE thinking of listing your home I would welcome the oppportunity to earn your trust in me! I don't gamble! Besides, I AM the Wake Forest NC House Chick! I live, work and play in Wake Forest NC and I know the Wake Forest NC Real Estate market better than anyone! Feel free to give me a call at 919.649.6128 or simply send me an email!

For more information regarding CMAs or what a Market Analysis is then don't miss this post!

Wednesday, January 13, 2010

IMPROVED List for Foreclosures in Wake Forest NC

Every week I update and post a List of Foreclosures in Wake Forest NC to my website. This list also includes Rolesville NC and part of North Raleigh NC.

There are foreclosures, REOs, Lender Owned Homes, Auctions and HUD/VA owned homes on this list and let me just say - awesome prices!

There is eveything from townhomes, historic homes and Estate Homes available! Check out the latest list and as always.....if you have any questions please feel free to call me at 919.649.6128 or simply send me an email!

Sunday, January 10, 2010

A Comparable Market Analysis Gives You The Edge in the Wake Forest NC Real Estate Market

First off, what is a Market Analysis?

A Market Analysis is a tool used to help guide you when deciding on a price to list your home. Your List Price. A Market Analysis will use similar homes in your neighborhood that are currently on the market, pending (have a contract on them but have yet to close) and recent Sales. In the past, recent Sales could go back 6-12 months to justify a price. Today? Not so. Lenders are now requiring (in most cases) Sold homes used in a Market Analysis to be no more than 90 days. What if there are no sales in your neighborhood in the past 90 days? Should that be the case, several other factors come into play.

  • A comparison of recent activity for List Price to Sales Price ratios must be looked at. What was the List Price of the home and what was the ultimate Sales Price of the home? Were there any concessions offered to the buyer such as Closing Costs, etc?

  • A more in-depth look at current homes on the market in your neighborhood will be looked at. DOM (Days on Market) will be analyzed. Have the homes been listed for less than 90 days? 180 days? Over a year? This is considered a "time on market" adjustment.

Years ago if there was a Foreclosure in your neighborhood mixed in with Fair Market sales you could somewhat discount that foreclosure in your equation. Unfortunately, today's market has many more foreclosures and, more than likely, they will need to be factored in when doing a Market Analysis. While that may be quite disheartening to you as a seller it is what is happening. You must keep in mind that if a buyer is faced with 5 homes for sale in a neighborhood and 3 of those 5 are foreclosures, chances are they are priced much lower than the Fair Market homes. That is your competition.

A Market Analysis has become a much more complex method in deriving a house value than in years past. If you are thinking of placing your home on the market in this soft environment it is in your best interest to hire a professional that will prepare a solid Market Analysis and continually update that Market Analysis while your home is on the market. Remember, if you receive an offer that is below your asking price and you have a professional, thoroughly prepared, and concise Market Analysis you will be in a better position to defend your asking price and more educated to negotiate.

There are many Wake Forest NC Homes for Sale so education is key when it comes to pricing your home!

Should you have any questions about your neighborhood activity or if you are considering putting your home on the market and would be interested in a FREE CMA (Comparative Market Analysis) I would be happy to help you navigate the process. Please feel free to call me at 919.649.6128 or simply send me an email!

Tuesday, January 5, 2010

How To Prevent Frozen Water Pipes

Water pipes are extremely vulnerable when the temperatures plummet as they have this last week in Wake Forest NC. The extended forecast shows even more colder than normal temps in the days ahead. Here are some great tips to help you prevent your water pipes from freezing AND what to do if the water pipes DO freeze!


  • Insulate pipes in unheated areas paying attention to pipes that run along the floors, ceiling and outside walls (don't forget the garage!)
  • Disconnect any garden hoses.
  • Be sure to seal any foundation cracks that you may have that would allow cold air into crawlspaces.
  • Open cabinet doors under the kitchen sink and bathroom vanities.
  • Let a small trickle of water flow from your faucets during the extreme cold.
  • Keep all exterior doors to unheated areas CLOSED! (utility rooms, garage, exterior yet attached storage rooms)
  • If you are going out of town be sure to have a neighbor check on your water pipes while away.
  • If you are going to be gone for an EXTENDED period of time or you have a vacant property you should have the water pipes drained.

After the Fact: (frozen but not burst)

  • Be sure to familiarize yourself with shutoff valves.
  • Never try to thaw a pipe with an open flame or torch.
  • Turn up the heat in the house to warm the surroundings (if an inside pipe)
  • Infrared lamps can help to heat up a pipe.
  • A hair dryer can be used to warm up the frozen area of the pipe.
  • Heat lamp or portable heaters.
  • Electric heat tape applied to frozen pipe.

A frozen water pipe can spell disaster should it burst. If you are in need of advice for water damage you can check out a post I have on What's Your Circa - while the post may have been written during hurricane season it still addresses water damage regardless of the cause.

Water Damaged Historic Homes - What to Do.

Stay warm my friends! It's COLD in Wake Forest NC!

A Walk Through Historic Wake Forest, NC