Are You Informed, Anonymous and In Control?

by Kathryn Dunkle, Client Coordinator for Buyers Advantage Group Realty

Real Estate is a service oriented business. As an agent, I see this combination of client attributes as a benefit. As an on-line consumer myself, I appreciate the opportunity to research my options in my own time frame, the ability to remain anonymous, and the fact that I choose if and when to go to the next level. I believe the Internet allows me to provide service to my past, present and future clients in a manner that is centered on their unique needs. I am confident that the level of service we, at Buyers Advantage Group Realty, provide differentiates us over all others.

The Internet came ashore like a tidal wave over ten years ago. The business and industry reaction was to implement every technological tool available to provide consumers with the information needed to make informed decisions. That is great, but it is only one part of a customer’s overall experience. Unfortunately, more often than not, what was and continues to be lost in the process of implementing this technology is “personal service”. I see it everywhere I go; or rather, I don’t see it at all!

How often do you get the sense that you and your business are appreciated by those you do business with? According to Realtor.com president, Allan Dalton,

What we’re seeing now is the emergence of a customer-service void as real estate professionals struggle to get their arms around the impact of the Internet. To the potential customers, we come across as a service industry that’s failing at this most basic level of service.

Buyers Advantage Group Realty has always differed from other companies in our belief that, by providing exceptional customer service, we build exceptional relationships. That is the cornerstone of our mission; it is what is valued here.

One of the ways that we provide an exceptional customer service experience is through our web site. You will always find accurate, informative, and educational content there. We are not afraid to share and teach our web site visitors.

Although today’s home buyers might not rely solely on a real estate professional as their principal source of information; when it comes to interpreting data, answering important questions, and negotiating the transaction, having a trusted advisor, one you would refer to your family and friends, will unquestionably enhance your overall experience.

A Better Quality of Life Makes Raleigh/Durham/RTP the Best Place to Live!

by Kathryn Dunkle, Client Coordinator for Buyers Advantage Group Realty

Many things contribute to one’s quality of life. Although we may have differences of opinion on what constitutes a great place to live, worship and work, we all agree that these factors will enhance your day-to-day life. These are the same factors that continue to attract many families to our area.

“Living in NC is easy.” That’s not the state slogan, but it could well be! All of the clients that we have worked with in the past that are relocating from outside the area are excited about moving here. Having lived here for so long, I sometimes take things for granted, but when I hear stories from those clients about the traffic problems in many California cities, the high property taxes in states like Florida, New York and New Jersey, the brutal Northeast and Midwest winters, crime and high cost of living in other locales, I am reminded to count my blessings!

Another way that quality of life is measured is through one’s spirituality. Relocating families will find many ways to express their spirituality in this area as well. One morning of watching the sun rise over the Crystal Coast or watching it set over the Great Smokey Mountain National Park is awe inspiring. One interdenominational event that I have always enjoyed is the Easter Sunday sunrise service at the NC State Capital. We are truly a diverse community. This, in large part, is due to our area’s colleges and universities as well as the many companies who have international operations in the RTP. With diversity comes understanding and compassion. We all benefit from that!

What brings people to work in North Carolina? It is said that we spend a full 1/3 of our lives in bed. How about the time one spends at work? There would be little argument that we spend the better part of what remains at work. How fortunate we are to live here! Many of the areas employers recognize that happy employees make good employees. These companies work hard to make and keep their employees happy. Beyond the now-standard benefits of flex-time, job sharing, telecommuting, etc, it is not uncommon to see companies allow nursing moms to have their new babies with them, free employee massage and/or meditation sessions, team building activities, nutrition and health services, concierge services, and pet friendly environments are now being offered. One of the ways that Buyers Advantage Group Realty is helping local small to mid-size companies compete in the recruitment arena is through our no-cost, employee relocation service benefits.

The Triangle area has been repeatedly recognized as one of the Best Places in the country to work, start a business, or look for a job. This recognition attracts the attention of top university graduates, highly talented individuals and entrepreneurs alike. Small companies, facing the challenge of continued growth, depend on competing for and securing that top talent. Buyers Advantage Group Realty can help these companies compete with larger companies, who may have substantial relocation benefits to offer, secure and retain the best talent available without cost.

Many companies appreciate the outstanding employee benefit this partnership provides their employees. We are not offering the typical relocation services. Our services start before a company has chosen the best asset to join their team. Buyers Advantage Group Realty becomes an extension of their Human Resource Division.

The second biggest decision a prospective employee will make when interviewing for a new job is whether or not their family will be happy with a move to the Triangle area. Will their quality of life improve by making the move?

Buyers Advantage Group Realty’s agents meet with prospective employees and give them a tour of the Triangle when they are here to interview for a new position. The Triangle is rated the best place to live, work, and play and we know how to demonstrate our area benefits to support the decision to relocate to the Triangle. A company makes the decision on who will be their best candidate and we make sure they say YES to living in the Triangle area.

Where Have You Been Lately?

by Kathryn Dunkle, Client Coordinator for Buyers Advantage Group Realty

The other day I came across an interesting list in Our State magazine (By the way, this is an incredible magazine with gorgeous photographs. Even the online version is a delight!). The list includes seventy-five activities and historic sites from Murphy to Manteo that the Our State editors believe every North Carolinian should experience. Well, I have lived in North Carolina for more than forty years (except for the two years I thought Texas would be a good move); so I imagined that I had done or seen at least half of the list. Needless to say I need to get out more! I figure you may need to get out more as well; and what better place to share our adventures and stories than this weblog?

There are so many interesting things to do and see right here in the Triangle. If you include those that are within a few hours drive, we are truly fortunate. Yet, if you’re like me, you haven’t taken the time to appreciate these hidden treasures. With the summer months approaching, why don’t you stray off the beaten path and look for something different? Check out some odd places, meet some interesting folks and share your experiences with me here on the Buyers Advantage Group Realty blog!

Most likely I never will get to all of the things on the Our State list, but together we can share a lot of miles and a lot of memories and have fun doing so! Let us all know about your favorite places to go in and around our area and what makes them so special.

For me, my first stop will be Mama Dips in Chapel Hill. I have always wanted to go there. If you can’t get to Chapel Hill easily, you can meet Mama Dip at her website. If you have been there, what do you recommend?

For more information on Raleigh real estate, visit Buyers Advantage Group Realty today!

How Interest Rates Work (Part 2)- Problems in the Mortgage Industry

by Carl Kiger, President of OakWealth Mortgage Group

The United States economy is truly a wonderful thing. Without too much government control or intervention, our economy grows and contracts based on the rules of supply and demand. You need only to look at the poor economic issues seen in other countries with too much government control to see the benefits of our “free market” economy. The recent issues in the mortgage industry have caused problems for the economy, and have also caused the federal government to look at greater intervention into the mortgage industry. If you have been watching the news media, you have probably heard discussions concerning the federal government stepping in to prevent lenders foreclosing on homeowners who are behind on their mortgages. While this may sound like great news to anyone who is in the foreclosure process, here is a brief description of why that would be negative for our overall economy.

Have you ever wondered why mortgage rates go up and down with the state of the economy, but credit card rates always tend to stay very high? Mortgage rates are tied to a tangible asset- your house. Lenders can loan money and provide a better interest rate because their risk is low. The money they are lending is tied to your house. If you ever stop making payments, they can recoup their money by selling your house. Inversely, the money loaned on credit cards is not tied to any tangible asset. Credit card issuers loan you money on your “good faith” promise to pay the money back. Although they can make your credit score look bad if you refuse to pay them, they cannot get their money back. Therefore, the risk that the credit card issuers take must be built into the rate they offer to consumers. This risk is why credit card rates are higher, and tend to stay high, even when other short-term rates drop.

With this information in mind, think what will happen if the federal government does not allow home mortgage lenders to foreclose on people who have stopped paying their mortgage. The lenders will not be able to recoup the money loaned out, and the mortgage industry will start taking on the look of the credit card industry. The risk the mortgage lenders are assuming will be much greater, and this risk will have to be built into the rates they offer to consumers. This would cause mortgage rates to be much higher on a permanent basis. Please do not get the impression that mortgage lenders are perfect. Over the last decade, there have been many predatory practices and high-risk lending practices that have contributed to the issues that we are currently facing in the mortgage industry.

While some additional government controls or laws may be needed to curb these practices, too much government control would cause more harm than benefit. Look at it this way: has the federal government ever run a program more efficiently than private industry can do? It may take over a year for our economic outlook to start improving; however, if we can make it through this downturn without breaking aspects of the economy which have worked well for decades, then I think we will all be better off in the long run.

To read Carl Kiger’s newsletter, OakWealth Viewpoint, click here.

For more information about real estate in the Triangle area, contact Buyers Advantage Group today!

1st Quarter Local Sales Report

As the first quarter of 2008 is coming to an end, interest rates are still more volatile than in the past few decades. According to an article from the Raleigh Real Estate News, recent past interest rates for home loan rates for prime borrowers would move 1/4 or 1/2 in discount points per week, roughly 1/16% or 1/8% in rate. However, now that move occurs in a single trade. This kind of volatility has led to nothing short of chaos in lending communities where the interest rates change as much as four or five times in a single day.

Why is There So Much Volatility?

According to the Raleigh Real Estate News article, the volatility is caused by two main reasons. First of all, liquidity issues are forcing many banks to sell prime assets in order to raise cash for battered balance sheets and inflationary pressures that are rising. Additionally, as we all know, consumer confidence is down and actually reached an all-time low of 64.5 in March (the lowest in five years!). Consumers also have reasons to worry due to high commodity prices with oil reaching a record high of $110 per barrel as well as rising food costs. One of the other reasons that there is so much volatility is because mortgage interest rates are directly attributed to banks needing to sell loan holdings, investors growing weary of any investment dealing with mortgages as well as rising inflation fears.

So, How Can We Protect Ourselves?

Borrowers don’t really have any set way of protecting themselves against changing market rates because no one knows (at least, not at this point) what direction the future of the economy is heading in. The only thing that people are somewhat sure of is what interest rate makes sense in terms of getting a loan. To help offer some semblance of stability, borrowers can look into mortgage backed security (MBS) in which investors know ahead of time the type of return that they are going to receive, just like a certificate of deposit. This requires that the investor makes sure that the borrower is capable(has a job), willing to repay the debt(credit report), has the cash to close (verification of deposit), and the value is in the property (appraisal), thereby helping to assure the buyer that the bond will perform as expected.

For more information on Raleigh Real Estate, contact Buyer’s Advantage Group today!

New Construction

Confidence among United States homebuilders is continuing to decline, according to recent articles posted in the Wall Street Journal and Bloomberg.com. Many potential home buyers are being scared away by more stringent lending rules as well as plummeting home values.

According to the Wall Street Journal, the National Association of Home Builders/Wells Fargo, the index of builder sentiment is still holding at 20; but that’s still better than 18, which is the all time low that they were at back in December of 2007. The Wells Fargo index is a chart that shows how respondents view the recent market conditions. If the levels fall under 50, then that means that the respondents view the conditions to be poor; and as many can see, we are well below the mark, hence the hesitation of potential home buyers.

Consequently, builders are reluctant to undertake new projects as the overall number of houses that have been sold has, once again, continued to decline for the third year in a row. Some areas, such as Raleigh, NC, have been lucky enough where the housing market crisis hasn’t hit quite as hard. However, this doesn’t mean that we haven’t been affected. Recent reports show that the Triangle area has also been on an overall decline.

Future Predictions

“We’ve got a long way to go before the market moves back into balance. We think building activity will remain restrained through the next four years.”

-Mark Vitner-

Senior Economist, Wachovia Corporation (borrowed from Bob Willis, Bloomberg.com)

Recent housing statistics from a Commerce Department report showed that housing in the United States declined 5.2 percent in March, according to the median estimate in a Bloomberg survey of economists. The declining home prices are leaving increasing numbers of homeowners feeling less inclined to spend their money on new houses, which might spell trouble for future home owners.

For more information on Raleigh real estate, contact Buyers Advantage Group today!

Falling Dollar Creates Increased Interest for International 2nd Home Buyers

With the value of the U.S. dollar falling to all-time lows, the housing market over here is looking mighty good to people from other countries who are thinking of purchasing a home. Realizing this, the National Association of Realtors (NAR) has joined hands with Europe’s largest home and resort exposition, Salon Inmobiliario de Madrid (SIMA), to educate potential International 2nd home buyers about real estate investment options in the United States. This only makes sense, since NAR represents 1.3 million members involved in all aspects of residential and commercial real estate within the United States.

A Different Type of Market

Every year, more than 100,000 U.S. homes are sold to people who are not from the United States. Of these international 2nd home buyers, most are from Europe, North and South America, Africa and the Middle East. Because of the threat of an impending recession as well as skyrocketing gas prices, the United States seems to be in the middle of an economic crisis, which translates to one of the world’s greatest bargains.

Instead of letting the economic crisis deter them, NAR is embracing their foreign friends. NAR’s vice president of international affairs, Miriam Lowe states:

This is our fifth year participating in the SIMA event, which draws investors from more than 50 countries. As the leading advocate for real estate in this country, NAR welcomes this opportunity to educate overseas buyers about the benefits of real estate investment in the United States.

For more information on Raleigh real estate, visit Buyers Advantage Group today!

More People Buying Houses in Charlotte, NC

Despite the recent problems with talk about a recession and a pretty dismal looking housing market, there are a few flickers of hope emanating from Charlotte, NC. A recent report in the Wall Street Journal stated that the RPX Monthly Housing Market Report showed that the change in price per square foot for properties varied greatly from city to city. And while the majority of cities across the United States have seen a decrease in the number of people buying houses, Charlotte has actually shown a 3.9% increase in the number of people buying houses over the last year.home-for-sale-sign-70.jpg

So what gives? North Carolina, as a state, has seen a general increase in the number of people moving to a few of it’s cities such as Charlotte, Raleigh, Chapel Hill, Apex and Holly Springs, and why is this? It’s because of opportunity. Charlotte, like Raleigh, NC has seen an increase in the number of people moving in due to a lower cost of living as well as job opportunities. People generally like what cities like Charlotte and Raleigh have to offer in terms of family living, extracurricular activities and the like.

Charlotte is known for its large banking corporations and already has the largest number of people living there out of any other city in North Carolina. The “Queen City,” as it is often referred to, has truly attracted a large following. If you’re looking for things to do while in Charlotte, you can go check out the downtown area, which has had a lot of work done on it to give it a little facelift. You can go to one of the many parks, or if you feel up to it, take a trip out to the mountains (since they’re just next door). There is an endless amount of scenic, fun, historical and enjoyable things for you and your family to enjoy.

For more information on real estate in North Carolina, visit Buyers Advantage today!

Call to Action!!

If you live in the Raleigh area, then this is your chance to be a part of Raleigh’s Comprehensive Plan 2030. It’s an opportunity to voice your opinion and have a say as to what direction the city of Raleigh will take over the next 22 years!

In two, 1-hour, small group discussions, you will have the opportunity to share your ideas on the issues, new policies and potential strategies affecting the Raleigh area. Register today and choose any two of the following topics:bag-last-minute-75.jpg

  1. Affordable Housing- dealing with affordable housing for low income residents as well as the issue of general housing affordability.

  2. Green City of Raleigh- dealing with all issues related to promoting ecological and sustainable development practices.

  3. Economic Prosperity & Equity- dealing with the city’s economic health as well as ways to “have the rising tide lift all boats” equitably so that all parts of the city and population can benefit from economic expansion.

  4. Growing Successful Neighborhoods- managing growth and change in both established neighborhoods as well as better design and mixed use in new developments.

  5. Growth Management: How and Where Should the City Grow? -dealing with city-wide growth.

  6. Coordinating Land Use & Transportation- addresses the need to better coordinate land development with transportation investments.

Visit Planning Raleigh 2030 for more information. Prior to the March workshops, we will send you an email announcement promoting the release of related issues papers and the community inventory. Additionally, light refreshments will also be available at the workshops.Â

Thank you for engaging in shaping Raleigh’s future; and don’t forget to REGISTER TODAY !

Close
E-mail It