Top Buyers Agency - Raleigh Real Estate Blog - The Triangle and Beyond

Enjoy Fresh Produce at These Local Farmer’s Markets

Janelle — Fri, 18 Jul 2008 07:00:43 +0000

by Kathryn Dunkle, Client Coordinator

With the cost of gas steadily rising, it makes more sense than ever to take advantage of our local farmer’s markets. Your mother always told you to “eat your vegetables” because she knew it would be good for you. Now, buying locally grown fruits and vegetables not only helps you, but the environment and our local economy.

Local Farmer’s Markets

Raleigh State Farmers Market

1201 Agriculture Street | Raleigh, NC 27603

Phone: 919.733.7417

Open Year-Round: Yes

January-December

Monday-Saturday, 5:00am-6:00pm

Sunday, 12:00 noon

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Cary Downtown Farmers Market

Harrison Avenue & Academy Streets | Cary, NC 27511

Phone: 919.772.4906

Open Year-Round: No

April-November

Tuesday, 3:00pm-6:00pm

Saturday, 8:00am-12:30pm

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Durham Farmers Market

Morris Street | Durham, NC 27713

Phone: 919.684.6420

e-mail: elizgibbs@mindspring.com

Open Year Round: No

April-November

Saturday, 8:00am-12:00 noon

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The Market at the Factory

1839 South Main Street | Wake Forest, NC 27587

Contact: Allison Tucker | e-mail: atucker13@nc.rr.com

Open Year-Round: No

April-October

Saturday, 8:00am-12:00 noon

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The Market at North Hills

*coming soon*

For more information about real estate in North Carolina, contact Buyers Advantage Group Realty today!

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Janelle — Wed, 16 Jul 2008 07:00:03 +0000

by Kathryn Dunkle, Client Coordinator

Five Common First-Time Home Buyer Mistakes

They don’t ask enough questions of their lenders and end up missing out on the best deal.
They don’t act quickly enough to make a decision and someone else buys the house.
They don’t find the right agent who’s willing to help them through the home buying process.
They don’t do enough to make their offer look appealing to a seller.
They don’t think about resale before they buy. The average first-time buyer only stays in a home for four years.

Don’t make any of these common mistakes. Contact an Exclusive Buyer Agent Realtor at Buyers Advantage Group Realty who can help guide you through the process.

Source: Real Estate Checklists and Systems, www.realestatechecklists.com.

National Association of Exclusive Buyer Agents (NAEBA): Short Sale Offers

Janelle — Mon, 14 Jul 2008 07:00:32 +0000

originally submitted by John Rygiol, Buyer’s Broker, Seal Beach, CA

Short sales are becoming more and more a part of the real estate inventory in 2008. In the first quarter of 2008, I wrote 15 short sale contracts for my clients with very little success. Of the 15 contracts written:

one closed about a week before foreclosure
one is in escrow due to close in a few days
two are still waiting for responses from the lenders after two months
two lenders chose to foreclose on the property rather than accept a short sale, and
nine buyers gave up and moved on to other properties due to lack of response from lenders.

I have spent many hours talking with listing agents of short sale properties. The best information that I was able to glean was from those that specialize in short sale properties. Most lenders are very short handed with negotiators handling 200 to 400 files each, and files are handled on a “put out the biggest fire first” basis. Most files are not really reviewed by the negotiators until 7 to 15 days before actual foreclosure is to take place. That is why you have to wait anywhere from 8 to 16 weeks before you get an answer.

Some things that I make buyers aware of on Short Sales: The home is still owned by the Seller and that is who we are making our offer to. Once we negotiate the contract with the Seller, it is then forwarded to the lender or lenders that have the loan/loans on the property for approval.

The lender may counter offer if they feel that the price is too low. Depending on where they are in the process, this may take from 2 to 4 months.

YOU ARE GOING TO HAVE TO BE PATIENT. In our offer, I have put in a time period of 2 months, but needless to say, that may have to be extended. I have also put in our offer that they MAY NOT continue to offer the property to others, but this may be countered back to us. The time periods for inspections and closing shall start the day after the Seller delivers to Buyer a written notice of Short Sale Lenders’ consent. It is at this time that your initial deposit is deposited in escrow. The lenders will not agree to pay anything.

Therefore, in our offer:

The property is being sold “as is”. Any repairs are your responsibility (you still have the right for a home inspection to see what your costs will be and decide if you want to go through with the transaction).
We have not asked for a Termite Clearance (we still have the right to have a termite inspection done and see if the cost is not too high for you).
You will pay for your own Natural Hazard Zone Disclosure Report. ($90)
You will pay for your own one year home warranty. ($260-$400)

Here is an email that I send to the listing agent before writing an offer:

I am preparing to write an offer on this home. I understand that it is a short sale and would like to get the following questions answered before I write the offer and present it to you.

Are there any other offers on the home at this time?

Who is/are the lender/lenders on the home?

Has a notice of default been filed on the property?

Has the proof of hardship package been turned into the lender?

Do you have a “real person” (Negotiator) assigned to the file that you can talk to?

Have any offers been turned into the Negotiator?

Have any offers been countered or accepted by the Negotiator?

How close to foreclosure is this property?

Thank you in advance for your answers to these questions. As soon as I receive them, I will prepare the offer, have my clients sign it and make an appointment with you to review the offer with you.

Last but not least: Most Short Sales will have several offers on them before the Seller accepts the best on that is sent to the lender. In my contract, I put in: Upon Acceptance of this offer, Seller MAY NOT continue to market the property to others.

I hope this assists you in the circumstance that your Buyer wishes to make an offer on a short sale property.

Visit the National Association of Exclusive Buyer Agents (NAEBA) for more information about selling your home.

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

Welcome to Parkwood!

Janelle — Fri, 11 Jul 2008 07:00:01 +0000

It’s easy to see why Parkwood is one of the Triangle’s top selling neighborhoods. This southwest Durham neighborhood continues to be desirable because it offers great home values, an excellent location and great amenities.

A Little Background

The Parkwood community began in the early 1960s. There are several styles of homes found within Parkwood, the majority consisting of hard-to-find, one-story ranch-style homes. Whether you are looking for a fixer-upper or a totally renovated home, you will be sure to find it here. The price point is ideal for first time home buyers, retirees and real estate investors.

A Great Location

Ideally situated between Chapel Hill and RTP, Parkwood is the perfect place for those who want a quick commute. Conveniently located near one of the area’s premier retail developments, Southpoint Mall, homeowners truly can “Have it all!”

Parkwood Residents enjoy a sense of privacy in this peaceful neighborhood that is simply not to be found in newer home communities. Lot sizes are generous and generally range from .33 to .5 acres. Mature trees, a community lake, picnic area, branch library, Parkwood Elementary School, community pool, ballfield and a convenient neighborhood store all contribute to Parkwood’s appeal.

Here are Some Quick Stats on homes in the Parkwood area:

Average Sold Price= $143,398
Average Size= 1,585 sq ft
Average Days on Market= 78

To find out even more information, contact a qualified buyers agent at Buyers Advantage Group Realty today!

What is the “Triangle”?

Janelle — Wed, 09 Jul 2008 07:00:59 +0000

by Kathryn Dunkle, Client Coordinator

Those of us who live and work in the “Triangle” have come to use the term generally as a geographical point of reference to the Research Triangle Park to describe the overall area. We at Buyers Advantage Group Realty talk daily with people wanting to relocate here. Having received national media accolades, this area has and continues to receive praise from trusted sources such as Money, Forbes and Time Magazine. More often than not, these folks tell us that they want to live in the “Triangle”. ONe of the first things we do is educate these prospective residents about the area.

The Research Triangle Park is the largest planned research development community in America, and it is central to our area. Because of the national and international reputation of the Research Triangle Park, the cities and towns that surround it have experienced tremendous growth. Yet, each of these enclaves has managed to retain its own unique personality. Whatever you are looking for, chances are good you will find it here. When you want to learn more about the Triangle, why not let the most experienced exclusive buyer agent firm in the Triangle answer your questions?

Raleigh/Cary Area Wealth Gain

Janelle — Mon, 07 Jul 2008 07:00:28 +0000

by Kathryn Dunkle, Client Coordinator

How has the wealth of current homeowners and real estate investors in the Raleigh/Cary area changed as a result of home ownership? The National Association of Realtors tells us, “One way to answer that question is to create a snapshot of the equity individuals who purchased a home at the median price 5, 10, 15, and 20 years ago would have built up in they had kept that home through 2007.”

Homeowners in the Raleigh/Cary area enjoy an average net worth, according to 2004 figures, in excess of $180,000. Compare this to the net worth of the average renter, $4,000; it easily demonstrates that homeownership continues to be the quickest way for the average American to build wealth.

Buyers Advantage Group Realty can help you find a home that meets your lifestyle and start you on a path to wealth building. Our exclusive buyer agents are experienced and knowledgeable about the Triangle area, providing you with the information to compare different home locations and values.

*Source: National Association of Realtors Research Update, April 15, 2008, 2008 Metro Area Wealth Gain Reports

Quote of the Month: July 2008

Janelle — Fri, 04 Jul 2008 07:00:29 +0000

In honor of Independence Day:

[Speaking about July 4th]

It ought to be solemnized by pomp and parade, with shows, games, sports, guns, bells, bonfires, and illuminations, from one end of this continent to the other, from this time forward forever more.

John Adams

2nd President of the United States

For more information about real estate in Raleigh, NC, contact Buyers Advantage Group Realty today!

Single Women Buy With Security in Mind?

Janelle — Wed, 02 Jul 2008 07:00:39 +0000

by Kathryn Dunkle, Client Coordinator

I mentioned in an earlier post, What Do Single Women Want?, that security is an important consideration for single women home buyers. As the number of single women home buyers continues to explode, some builders and city planners are finding ways to improve security measures. With this in mind, I’d like to share a few tips that will provide peace of mind:

Consider buying a home with an attached garage with an electronic garage door opener.
Consider a gated community.
Pay attention to surrounding lighting conditions. Will you be comfortable taking an evening stroll?
Buy a home with an installed security system.
Inspect door locks and jambs. Consider re-keying the locks after you purchase your new home.
Is the landscaping obscuring the view to doors and windows?
Second floor condominiums and those facing the street tend to be less attractive to criminals.
Pull a neighborhood crime report through the local police department or on the Internet.
Fenced yards discourage crime.

If you are curious about the overall safety of the area where you now live or in which you would like to buy your new home, let the agents at Buyers Advantage Group Realty put their tools to work for you. Give us a call at 919.573.6151 to see how we can help.

When You Have to Move but You Have Not Sold Your Home

Janelle — Mon, 30 Jun 2008 07:00:22 +0000

by Pat Olmert, First Financial Services and Barbara Gressens

The toughest part of moving waiting for someone to buy your home. But there are times when you cannot wait for your home to be sold and yo have to be at your new destination by a certain date. What are your options for finding a new place to live?

One option would be to rent at your new destination until your home has sold. The rental market and rental fees are on the rise from buyers waiting for their homes to be sold and from a previous group of home buyers who no longer qualify for a home purchase loan.

Another option is to use the equity in your current home to purchase your next home. When your home sells, you can use the proceeds from the sale to pay down the new home loan and alter the loan payment without refinancing your loan or paying expensive closing costs. This is called recasting your loan.

Pat Olmert, Loan Officer for First Financial Services, explains further:

What is a RECAST or REAMORTIZING feature? It is when a mortgage customer requests to apply a large principle only payment to their mortgage balance and reduce the amount of future monthly payments. This is important if you have equity in a home but are having difficulties selling the home and using that equity for the down payment. You may get as high as a 97% loan on the new home with the hopes of decreasing the loan balance and monthly payments when you ultimately sell your old house with this feature. NO need to refinance, which is especially nice if the rates have increased since the date of your closing.

How?

The principle balance curtailment must be 10% of more of current outstanding principle balance
Modifies the principle and interest portion of the payment, not the rate, maturity date or escrows
A nominal fee of $250 to process

There are many programs available, which are rarely discussed in the media, to deal with your specific home purchase situation. We, at Buyers Advantage Group Realty, are committed to the best interests of our buyer clients by introducing them to professionals with proven track records of excellent service. Every client’s home purchase is unique and requires an agent with the experience and knowledge to deal with your specific home purchase requirements. As exclusive buyer agents, we specialize in one side of the home purchase transaction-the buyer side. If you are looking for an experienced real estate agency whose focus has always been the buyer, call Buyers Advantage Group Realty.

The Buyer’s choice to be the Buyer’s voice!

Foreclosures and Your Pet: The Sorry Side

Janelle — Fri, 27 Jun 2008 07:00:46 +0000

by Marge Bish, Broker/Owner

You’ve done a good deed, gone to the local shelter and adopted a pet for your kids. They love the dog or cat and in spite of promises to take care of it most of it has been left to Mom or Dad and you’ve become very attached to.

Things aren’t going well at the company and your job ends with no new one in sight. Bills pile up and the budget is tight. Next thing you know you are facing foreclosure with the only possibility may be living with a family member for a while until you get back on your feet.

Moving day looms. The kids are crying as you pack up to leave and the last thing you are thinking about is the dog or cat. You know that you can’t take it with you, but you just can’t’ stand to take it back to a shelter where it came from.

Wait-the neighbors all know our pets-maybe they will adopt them- or maybe not. You just leave them. They are alone, no food, no warm bed or a too hot-area to sleep with no shelter.

It’s a sad but true fact that foreclosure crises affect thousands of pets each year. There are some options for you and for you pets, however.

Ask your friends and neighbors if they are willing to adopt your animal.
Contact a breed-specific organization if you have a pet that qualifies.
If you do not know who to contact, call the county animal control shelter where you live. They have contacts with all breed specific groups and some that are not breed-specific and operate no kill shelters. In Wake County, you may contact Nancy Clemmons, who is the Wake County Community Outreach Coordinator at 919.250.4474. Also feel free to visit and/or contact the Wake County Animal Care, Control & Adoption Center.

If all else fails, PLEASE, PLEASE turn in your pet to the shelter. Do not leave them on their own to deal with death by vehicles, starvation, attack by other animals, sickness or misuse by unscrupulous people.

No one wants to think of a pet being euthanized, but isn’t it better for them not to suffer a worse death on the street?

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