Raleigh NC Real Estate

Simple things to help your home show better and sell faster

March 29th, 2010

Who doesn’t want to have their home sell quickly and for top dollar? These tips can help you get your home ready to ‘wow’ buyers in no time, and for less money than you think.

Clean up, Clear out Ok, I know how hard it is to let go, but clutter really deters from the experience people have when viewing property. They need to see how their lifestyle will fit into the space you’re selling. So, take a deep breath and remove whatever you can. It doesn’t have to be traumatic. Really. Start where it’s easy, where ever that may be for you. In the kitchen with the junk mail or with books/magazines in a family room; just grab a trash bag, and get started. And here are some additional links to show you how to begin or keep going:

http://www.lifeorganizers.com/cm_articles/26_get_rid_of_clutter_in_an_hour_or_less_278.html

http://tashian.com/fengshui/declutter.html

Sell the Front This is a great time of year to spend a little time and money on the front of your property. It’s the very first image people see, and can be enough to give your home the edge over the competition. Visit a nursery and load up on some annuals, then roll up your sleeves and plant to your heart’s content! It doesn’t take long, or much of an investment to have a big impact. But remember, what you plant, you must water (for the most part). Dead plants don’t help the cause, so try to stay with hearty plants that will fill in while you’re selling. And make sure your real estate agent gets pictures while the property looks it’s best.

Find your zone with this link: http://springhillnursery.com/article.asp?ai=1080

Then learn more about what plants to choose here: http://www.flower-gardening-made-easy.com/annuals.html

Tackle ‘the list’ You know the one…that list of things you’ve been meaning to repair around the house. If you see it, chances are your potential buyers do too. Don’t let those little projects stack up, or if they already have, start getting them done. Here are a few links t o help with some common projects:

Leaky Faucet- http://www.doityourself.com/stry/h2repairvalve

Broken Light Bulb- http://mrsfixit.com/Fixits/FixitDetails.asp?id=359

Tile Flooring- http://www.doityourself.com/scat/ceramicinstallation

If you’re in the market to buy or sell a home, please contact me. I’d be happy to help you every step of the way. www.cmetobuy.com michelle@cmetobuy.com 919 306-1639

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What is HAFA?

March 24th, 2010

HAFA, or Home Affordable Foreclosures Alternatives, is a Treasury Department program designed to help homeowners protect their credit, and encourage lenders to accept short sales over allowing loans to go to foreclosure. Created in 2009, this program becomes available on April 5th, 2010 through December 31, 2012. This program is for homeowners not helped by the HAMP (Home Affordable Modification Program), and offers incentives to homeowners ($1,500) and lenders ($1,000) for participation that results in avoiding foreclosure. The program cannot prevent homeowners from losing their property, but it does protect homeowners from a foreclosure on their credit report.

A mortgage loan meets the basic eligibility criteria for HAFA if all of the following are true statements:

The loan was for the principal residence of the borrower.
The loan was a first lien mortgage originated on or before January 1, 2009.
The mortgage is delinquent, or default is reasonably foreseeable.
The unpaid principal balance on the loan is no more than $729,750 for a single-family property, $934,200 for a dual-unit property, $1,129,250 for a three-unit property, or $1,403,400 for a four-unit property.
The total monthly payment on the mortgage (including principal, interest, property taxes, hazard and flood insurance, condominium association fees, homeowner’s association fees, and any escrow payment shortage amounts subject to a repayment plan) is more than 31% of the gross income of all borrowers on that mortgage.
The loan servicer has already considered the borrower for a HAMP loan modification, and one of the following conditions applies:
- The borrower does not qualify for a Trial Period Plan.
- The borrower does not successfully complete a Trial Period Plan.
- The borrower is delinquent on a HAMP modification by missing at least two consecutive payments.
- The borrower requests a short sale or a deed-in-lieu.

More information on HAFA is available at:

http://hafa-program.com/

http://www.realtor.org/government_affairs/short_sales_hafa

If you are behind on your mortgage, and need advice, please call. I’d be happy to discuss your options.

919 306-1639 cell

michelle@cmetobuy.com

www.cmetobuy.com

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Changes Coming Soon to FHA

March 12th, 2010

The Federal Housing Administration is the largest government insurer of mortgages in the world. FHA provides mortgage insurance on loans made by FHA-approved lenders throughout the country. Borrowers must meet certain requirements established by FHA to qualify for the insurance, & the FHA will pay the lender if a homeowner defaults on their loan. FHA has insured over 37 million home mortgages and 47,205 multifamily project mortgages since 1934. Currently, FHA has 5.2 million insured single-family mortgages in its portfolio.

Recently, FHA announced that some significant changes were going to be made regarding qualifications. I’ve listed the major changes below:

An increase in upfront Mortgage Insurance Premiums from 1.75% to 2.25%

A reduction in maximum seller contributions from 6% to 3%

A Congressional request to increase monthly mortgage insurance premiums…still being decided

These changes go into effect on April 5th. If you have questions about these changes, or would like to discuss your real estate needs, please call me at 919 306-1639, or email me at michelle@cmetobuy.com .

Learn more from the following links:

Dept of Housing & Urban Development on Buying a Home: http://portal.hud.gov/portal/page/portal/HUD/topics/buying_a_home

National Assocition of Realtors: www.realtor.org

Michelle & Associates Inc: www.cmetobuy.com

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8 Reasons Why You Should Work With a REALTOR®

March 9th, 2010

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here’s why it pays to work with a REALTOR®.

1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.

2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties.

4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5. Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property.

6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.

7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.

8. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

Know some one who is thinking about buying or selling real estate? I’d love to help. I’ve got 20 years experience in the Triangle market. The clock is ticking on the real estate tax credits; call or email me today to find out how to take advantage of this historic opportunity. www.cmetobuy.com 919 306-1639 cell or michelle@cmetobuy.com

Follow us on Facebook- http://www.facebook.com/profile.php?id=618254600#!/pages/Raleigh-NC/Michelle-Associates-Inc/190448311064?ref=ts

More on the National Association of Realtors- http://www.realtor.org/

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Raleigh’s Recycling Changes- Good or Bad?

March 3rd, 2010

As Raleigh prepares to move to biweekly pickup of recycling, I’m asking how residents feel about the change. The City of Raleigh Solid Waste Services department tells us that the change will offer us superior service. We will all receive a 95-gallon cart in order to service our recycling needs, and they will be picked up every other week. These containers are designed to be able to hold and store a variety of recyclable materials in a way that our current containers cannot. They will also have lids and wheels, making them easier for residents to use, fill, store and bring to the curb. Eventually, if the city decides, they can automate the collection process with truck arms to grab the containers, much like we now have for regular trash collection.

We’ve all seen overflowing bins on street sides; having larger containers should help with that. And, having lids should help us all with odors or other issues stemming from holding recycables in garages longer between pickups. But, some residents are saying the switch to 95 gallon containers is unnecessary for most residents, and the larger containers are too cumbersome for people to use regularly. They suggest that the net effect is less participation, not more.

Charlotte is changing their program as well. The city’s new 96 gallon recycling bins have chips in them, telling the city exactly who is recycling and they’ve automated the sorting process. Residents can opt out of the new cans, but have to call and request to do so. They’re hoping the new cans inspire more participation, and are expecting to save $12M over the next 5 years in landfill fees and saved payroll. Charlotte as also gone to biweekly recycling collection.

So please, tell us what you think about the changes coming to your neighborhood. I’d love to hear from you.

Here are some comments from residents:

Judy says- “I’m okay with it. I rarely have a full container each week so two weeks gives me more time to collect my recyclables. My neighborhood is exempt from the automatic trucks because of the small size of our streets/cul-de-sacs. I’m all for better efficiency.”

Matthew says- “Raleigh should give residents the choice of small vs. large recycling bins- and weekly pickup, too.”

If you’d like to hear more on this discussion, check out Michelle & Associates Inc. on Facebook, or email me at michelle@cmetobuy.com

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Testimonials

Simple things to help your home show better and sell faster

March 29th, 2010

What is HAFA?

March 24th, 2010

Changes Coming Soon to FHA

March 12th, 2010

8 Reasons Why You Should Work With a REALTOR®

March 9th, 2010

Raleigh’s Recycling Changes- Good or Bad?

March 3rd, 2010