NCRealEstateWeblog.com

Will Congress Cut Mortgage Deductions?

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Tue, 15 Sep 2009 06:46:54 -0500

The Congressional Budget Office has prepared a report that suggests ways for Congress to raise revenues. One key suggestion is that Congress cut deductions for home owner mortgage interest from the present $1.1 million cap to $500,000, phasing in the reduction by $100,000 annually starting in 2013.

Click Here to read this entire article.

Price Reduced in Old Carriage Farm

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Wed, 09 Sep 2009 18:55:08 -0500

Price Reduced on 3719 Carriage Farm Road in Old Carriage Farm

Old Carriage Farm, Rocky Mount - Announcing a price reduction on 3719 Carriage Farm Road, a 1,461 sq. ft., 2 bath, 3 bdrm single story.

Now $150,000 - Call Now!.

Property information

1.5 Story For Sale in Nash County, NC

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Tue, 21 Jul 2009 16:37:17 -0500

1.5 Story For Sale in Nash County

Move In Ready!

• 1,442 sq. ft., 2 bath, 3 bdrm single story - MLS® $125,000 - Priced Right!

Nash County, North Carolina - If condition counts, you'll want to see this better-than-new, completely renovated home . Located in a rural setting, you will welcome the quiet country life while still being close to all amenities.

The pleasing neutral paint and carpet, earth tone tile flooring, modern bronze light fixtures, and new attractive bath fixtures, provide aesthetic continuity throughout.

You'll love the updated and renovated eat-in kitchen with tile flooring and coordinating tile backsplash, new countertops. The adjacent formal dining room with chair rail and crown molding offers a relaxing view of the back yard, and opens to the spacious living room with masonry fireplace surround and hearth, chair rail and crown molding. The master bedroom and laundry are conveniently located down with two charming dormer bedrooms up. Plenty of storage with walk-in closet in master, two double closets in secondary bedrooms, plus coat closet in entryway.

Enjoy the sounds of nature on your deck overlooking an expansive level back yard with plenty of room for a garden if you desire.

Ready for you to add your personal touch, just move right in and enjoy.

Property information

Just Listed A True "Rent Buster"

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Sun, 07 Jun 2009 21:01:22 -0500

2 Story For Sale in Rocky Mount

Move In Ready!

• 1,320 sq. ft., 2 bath, 2 bdrm 2 story "Townhouse" - MLS® $80,000 - Your Rent Buster!

Rocky Mount, Nash County - Looking for your first home? Then start here in this 2BR/2BA townhome on a pleasant tree-lined street in quiet, established, well-kept neighborhood. You'll love the eat-in kitchen with easy-care vinyl flooring, deep-set windows, SS double sinks, ample warm wood cabinetry plus shelved pantry, and --all appliances stay!

The spacious dining room flows to the living room with masonry fireplace and sliders to your own private retreat. Enjoy the sounds of nature in your airy, but oh-so-private mostly fenced back yard - no need to buy patio furniture as built-ins are in place. Ample outside storage is provided in the attached storage room.

On the second floor you'll be delighted with the large bedrooms. The master bedroom features his and hers double closets. The private bath has vinyl flooring, vanity with plenty of storage, and ceramic tiled step in shower.

Second bedroom is pleasantly large, has two ceiling fans, two closets, and deep-set windows. The full guest bath has vinyl flooring and ceramic tiled surround in porcelain tub/shower combo. The laundry area is conveniently located on the second floor -- washer and dryer stay! Additional hall storage is found in the oversized coat closet and a shelved linen closet.

A lot of home for the money, and convenient to everything.

Property information

Just Listed - 4608 Morning Glory in Rocky Mount

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Fri, 05 Jun 2009 15:52:57 -0500

Single Story For Sale in Westry Crossing

Flawlessly Maintained

• 1,330 sq. ft., 2 bath, 3 bdrm single story - MLS® $120,000 - In Your Price Range

Westry Crossing, Rocky Mount - See what pride of ownership means in this sparkling home in desirable Westry Crossing. This popular Asheville model was tastefully updated, featuring neutral earthtone colors, warm wood-laminate flooring in kitchen, dining room, living room, and hall, with stylish Frise carpeting in bedrooms, and plantation style blinds throughout, creating the perfect backdrop for your personalization. The kitchen with upgraded GE stainless steel appliances has ample cabinet space plus pantry and convenient laundry area; adjoining dining room features a beautiful bay window and access door to small covered porch near driveway. Master bedroom has large walk-in closet, and rear secondary bedroom has French door access to fenced level backyard with storage building. Tasteful landscaping completes the picture for a total package.

This home is better than new - perfect for those with impeccable taste.

Property information

Just Listed - 1109 Brandywine Ln., Rocky Mount, NC

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Fri, 29 May 2009 16:01:22 -0500

• 1,358 sq. ft., 2 bath, 3 bdrm single story - $110,000 - Renter's Revenge

Forest Oaks, Nash County - Move right in to this well-maintained home in an established, family-friendly neighborhood. Plenty of space here, with flowing floorplan in living areas; convenient eat-in kitchen with adjacent laundry/utility room and access to deck; formal dining room with warm wood flooring and bay window overlooking backyard; open living room with bay window, gaslog FP w/brick surround and hearth. Warm wood flooring, Berber carpet, tasteful decorator palette, combined with chair rail, crown molding make this a welcome respite from the stresses of the outside world.

Master bedroom has walk-in closet, with ceramic tile flooring and step-in seamless shower in master bath. Two nice size bedrooms, full hall/guest bath, two closets in foyer complete the layout. A nice touch is the attic fan to help with cooling in the warm months.The fenced back yard with mature trees provides an excellent atmosphere for spending time on your deck. An attractive wired workshop/storage shed provides additional storage as well as ample space for those weekend projects.

Lovingly maintained inside and out, this home has great curb appeal and is a great place to live at an attractive price, close to shopping, medical, US64 and I-95.

Property information

Price Reduced $10,000

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Sun, 15 Feb 2009 15:55:59 -0600

Price Reduced on 155 Black Cloud Drive in Lake Royale

Lake Royale, Louisburg - Announcing a price reduction on 155 Black Cloud Drive, a 1,591 sq. ft., 2 bath, 2 bdrm single story. Now $165,000 - The Price You Want.

Property information

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Visit my website, www.NCRealEstateWeb.com, for more relevant information about the North Carolina Real Estate Market.

2009 Property Revaluation

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Wed, 07 Jan 2009 17:13:34 -0600

Nash and Edgecombe County property values increased by 26 percent since 2001 say tax officials.

Property values in Nash County increased 22 percent while Edgecombe County values increased roughly 32 percent.

Tax officials in both counties are prepared for a surge of complaints. The official notices are schedule to be mailed on 1/16/2009.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2009 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *2009 Property Revaluation Released*

10 Questions To Ask Before You Hire Your Realtor

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Sun, 04 Jan 2009 10:50:36 -0600

Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.

1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate - like many other professions - is mostly learned on the job.

2. How many homes did you and your real estate brokerage sell last year? By asking this question, you'll get a good idea of how much experience the practitioner has.

3. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.

4. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.

5. What types of specific marketing systems and approaches will you use to sell my home? You don't want someone who's going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it's important that your REALTOR® is responsive.

6. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it's usually legal to represent both parties in a transaction, it's important to understand where the practitioner's obligations lie. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.

7. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they're wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.

8. What's your business philosophy? While there's no right answer to this question, the response will help you assess what's important to the agent and determine how closely the agent's goals and business emphasis mesh with your own.

9. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there's a hot prospect? Do you prefer phone, e-mail, or a personal visit?

10. Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.

Price Reduced on 207 Hopkins Avenue in Spring Hope, NC

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Sat, 03 Jan 2009 09:41:04 -0600

Spring Hope, Nash County - Announcing a price reduction on 207 Hopkins Avenue, a 1,902 sq. ft., 3 bath, 3 bdrm 2 story. Now $200,000 - Quiet Neighborhood.

Property information

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Local Market Improves

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Fri, 02 Jan 2009 13:03:51 -0600

Our local Real Estate Market has improved over the last few months. I'm not jumping for joy, yet, but we have seen an improvement none the less.

Bargain hunters snatching up foreclosures, home owners who pulled their properties off the market, and buyers starting to enter the market helped shrink out local inventory of available homes for sale to its lowest point since March 2008.

Total listing of homes for sale declined 5.1 percent in December compared to November, according to figures compiled from the Rocky Mount MLS.

Total listings at the end of December are a mere 1 percent higher than they were in December 2007 in areas serviced by the Rocky Mount MLS. This is good news!

Demand for housing increased in December and units sold at about the same pace as this summer.

This is the fourth consecutive month inventories have declined. We still have a saturated market but any improvement in inventory is a welcome development.

How to Sell Without an Agent

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Mon, 29 Dec 2008 07:40:41 -0600

How to Sell Your Home Without an Agent

1. Change ads regularly. Ads lose their effectiveness if repeated without change. Three days is plenty for one ad. Rewrite ads to appeal to different categories of likely buyers. Use plenty of adjectives. Spend time writing good copy because your ad competes with many ads for similar property.

2. Obtain purchase contract forms. Complete the purchase contract except for date, price, terms, and signatures. Make certain that you fully understand every provision. If a prospective buyer wants to use his or her own contract, be alert. Take it to an attorney. What might appear to be a standard form could be one-sided and not say what it appears to say at first reading. With desktop publishing, many wheeler-dealers are using their own forms where the small print taketh away what the large print giveth!

3. Check financing at least once a week with a mortgage company so you will be able to help a buyer understand his or her down payment and monthly costs for various types of mortgages tailored to the buyer's needs. Be prepared to explain loan types to prospective buyers. Many excellent texts are available to help you. You should also understand front-end and back-end qualifying ratios and FICO scores. If you don't understand them, you could waste days, weeks, or even months of effort on a buyer who is unable to obtain financing because of existing debt, insufficient income, or prior credit problems.

4. If a prospective buyer uses the words "subordinate" or "subordination" in the offer, turn and run. If you sign, no matter how good it looks, you are likely giving away your home to a sharp operator. Also, be alert for any deals that seem too good to be true-they generally are. Be particularly wary with any buyer who is buying without any of his or her own cash. If the buyer ends up with more cash than he or she started with, you can be certain you are the victim of a scam. Television infomercials feature buyers who brag about paying practically nothing to own valuable property. A number of fast-talking seminar promoters have instructed thousands in unethical and often illegal procedures. Offers of mortgages on other property, notes, colored stones, diamonds (especially uncut), or other claimed valuables should send you running to an attorney. If you don't have one, I would be happy to recommend several. When an agent is involved, the fast operators don't waste their time. That's why they love For Sale by Owners.

5. Be certain that you have considered and fully understand the effects of the following: seller discount points, payoff penalties on existing loans, assumability of loans, ownership of the impound account, and all closing costs. You should also understand the dangers of "subject-to" financing as opposed to loan assumptions.

6. Make certain that you are prepared with all seller disclosures mandated by state law. If you are not prepared, you may not be able to obligate a buyer to a sale; and if you fail to make a proper disclosure, you could be inviting a lawsuit and substantial damages.

7. Make certain that you fully understand the requirements of state and federal fair housing legislation, or you could find yourself paying a fine or a penalty.

8. Make certain you know who a prospective buyer is before he or she crosses your threshold. There have been far too many horror cases of trusting homeowners who open their homes to persons with intentions other than buying and treat them as if they were honored guests. Try not to be alone when prospective buyers visit.

9. Beware of contingent offers. As a result of a contingency, the property could be tied up for months or even years. The buyer could be a dealer who wants to hold the property as if it were an option that would be exercised only if another buyer is located.

10. Price it right. How did you arrive at your price? Unless you have a written comparative market analysis that considers all recent sales of comparable property, your price could be merely a hunch. Too high a price will almost certainly guarantee that your property will not be sold, and you will be simply wasting time and effort. Too low a price will mean you are giving away dollars that are rightfully yours. You want a realistic price that gives you an advantage over your competition in creating interest in your property. You should then hold to your price with only minor concessions.

11. Understand fully the tax consequences of the sale. How much, if any, of the sales price will be subject to taxation, and at what rate?

If you are determined to sell your home yourself, I wish you good luck. I hope you find this list useful in your efforts.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *How To Sell Without An Agent*

For Sale By Owner - Things to Consider

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Fri, 26 Dec 2008 10:17:24 -0600

Many homeowners believe that to maximize their profit on a home sale they should sell it themselves. At first glance, they feel selling a home is simple and why should they pay a broker fees for something they could do themselves? In fact, close to 9% of all the homes sold last year were sold for sale by owner (FSBO).

However, close to half of the FSBO's said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBO's told us that the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off having paid the broker's fee which would have included many of these charges up front.

Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing a professional. A little time spent investigating up front will pay off tenfold in the end.

Do I have the time, energy, know-how, and ability to devote a full forced effort to sell my home?

One of the keys to selling your home efficiently and profitably is complete accessibility. Many homes have sat on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBO's as targets for low balling?

One of the challenges of selling a home is screening unqualified prospects and dealing with lowballers. It often goes unnoticed... how much time, effort and expertise it requires to spot these people quickly. Settling for a lowball bid is usually worse than paying broker commissions.

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?

One of the keys to selling, whether it's a home, a car... anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had all your ducks in a row? By offering financing options you give the home buyer the ability to work on their terms and open up the possibilities of selling your home quickly and more profitably. A professional real estate agent will have a complete team, from lenders to title reps for you to utilize...they'll be at your disposal.

Do I fully understand the legal ramifications and necessary steps required in selling a home?

Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your states disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a professional would be a wise choice.

Do I have the capability of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?

Ask yourself if you are well versed in legalese and if you are prepared to handle disputes with buyers. To avoid any disputes it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals....title, inspector (home and pest), attorney, and escrow company?

Are you familiar with top inspectors and escrow companies? Don't randomly select inspectors, attorneys, and title reps. Like any profession there are inadequate individuals who will slow, delay and possibly even cost you the transaction. For more information visit www.M3FSBO.com

Tis The Season!

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Wed, 24 Dec 2008 06:52:26 -0600

This holiday season, as we share in the spirit of giving and enjoy familiar Christmas traditions, we have the opportunity to reflect on how fortunate we are to live in this great Nation. We also remember our brave men and women in uniform, many of whom will spend the holidays far from home. We are grateful for their service to our country, and for the support and sacrifice of their families.

May you and your family have a safe and joyful holiday season and a prosperous New Year.

Client Story - Jim & Maria Wanted to Retire to the Ashville Area

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Mon, 22 Dec 2008 07:33:24 -0600

Situation
I received a call from a couple wanting to sell their home in Brassfield Estates. Both Jim and Maria were retired and they wanted to move to the Ashville, North Carolina area. The couple had learned about me from my website, www.NCRealEstateWeb.com, and gave me a call.

During our meeting we discussed how I work, why I do the things I do, and exactly what I was going to do to help them get their home sold. At the end of the meeting they informed me that a friend had recommended another Realtor to them. They would contact me with their decision on who they would hire after meeting with the other Realtor.

A few days later they called me and wanted me to list their house.

Critical Issue
Jim and Maria had no pressing issue making them relocate other than they just wanted to move. They had visited the Ashville area many times wanted to make it their new home.

Capabilities Needed
When we met they were looking for a Realtor that was honest, would communicate with them on a regular basis, and work hard to sell their house. They were prepared for their home to remain on the market 6 months to a year based on what they had seen happening in the neighborhood.

What I provided
I provided accurate and justifiable pricing, simple suggestions to help the home show better, and a custom marketing plan to maximize the exposure of their home within the appropriate buyer group.

Result
The sellers received and accepted an offer on their home in 48 days.

They were surprised and very pleased that they went "Under Contract" so quickly. In fact, it took a few days after receiving the "Offer to Purchase" to accept the offer because the wife was traveling in Europe at the time. They did not expect to receive an offer so quickly.

Jim and Maria had moved many times during their lifetime. So, when the customer service survey was returned I took great pride in the fact that they stated that it was the "Best experience with a Realtor ever".

This is how I grow my business, one satisfied client at a time.

2431 Cokey Rd, Rocky Mount, NC - Home on 7 Acres Overlooking Pond

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Sat, 20 Dec 2008 10:02:58 -0600

1 1/2 Story For Sale in Edgecombe County

A Jewel Waiting To Shine

• 262 sq. ft., 2 bath, 2 bdrm 1 1/2 story - MLS® $150,000 - Priced to Sell

Edgecombe County, North Carolina - This rustic home with a cabin feel is Priced to Sell! Clean, paint, replace the carpet, and decorate...this is a jewel waiting to shine. This house needs some M_O_N_E_Y but mostly T_L_C. Put your elbow grease to work and gain instant equity! If you are looking for something to make your very own this is it. Your quiet retreat on a 7 acre lot. This is an "AS IS" sale.

Property information

Some Are Less Inclined To Buy A Foreclosure

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Fri, 19 Dec 2008 08:10:05 -0600

RealtyTrac and trulia just released the results of a new joint study. This study shows that fewer buyers are willing to consider purchasing a foreclosed property than they were seven months ago.

Seven months ago, 54 percent of adults surveyed said they would consider purchasing a foreclosed home. In November, only 47 percent of adults say they'd buy a foreclosure.

The main issue is perceived risk. With 80 percent of those surveyed citing hidden repair costs, a tricky buying process, and the possibility that the neighborhood will lose more value and drag the property down with it.

To compensate for these risks, 75 percent say they expect at least a 25 percent discount and 30 percent say they would only buy if there is a 50 percent discount compared with a comparable home that isn't in foreclosure.

Other findings:

* 56 percent of single/never married adults were at least somewhat likely to consider purchasing a foreclosed home, down from 60 percent in April.
* 43 percent of married adults were at least somewhat likely to consider purchasing a foreclosed home, down from 50 percent in April.
* 42 percent of divorced/separated/widowed adults were at least somewhat likely to consider purchasing a foreclosed home, down from 50 percent from April.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, NC Real Estate Web Blog. All Rights Reserved.. *Some Are Less Inclined To Buy A Foreclosure*

10 Real Estate Predictions for 2009

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Thu, 18 Dec 2008 06:09:27 -0600

2009 will be a year of more challenges and opportunities. Prepare yourself with these predictions from HGTV's FrontDoor.com Web site.

Sellers will continue to face falling home values in the new year because they'll be competing with banks and builders who are slashing prices to sell off the still-huge inventory of foreclosures and new homes.

The Obama administration will act on its plan to crack down on abusive lending practices.

Mortgage holders in danger of losing their homes will receive more assistance from a variety of programs since the Senate's Joint Economic Committee has predicted two million foreclosures in 2009.

Banks' restructuring should bring increasing calm, making loan modifications and short sales easier to obtain. Eventually this will lead to a decrease in the number of bank-owned properties on the market.

Mortgage applications will continue to receive a comprehensive review, requiring borrowers to provide extensive income and debt documentation. Those with the best credit will get the best rates.

The foreclosure crisis has created wiser consumers, with a deeper understanding of real estate, mortgages, and credit enabling better decision-making going forward.

Green is good with increasing numbers of buyers opting for smaller homes that are within walking distance of school and work.

Buyers and sellers will be more and more tech savvy, relying on tools like video, webcasts, and mobile search. Consumers and practitioners will benefit from being ahead of the curve.

Prices will be low as will interest rates, creating great buying opportunities, and likely, inspiring reluctant buyers to make their move.

The recession will end and buyers will regain confidence in the market.

Thinking of Selling Your Home?

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Wed, 17 Dec 2008 06:07:22 -0600

If you own real estate in the Greater Rocky Mount Area of North Carolina that you're thinking of selling, I would be happy to provide you with a FREE Market Analysis. I can help you decide if now is the best time to sell your home. Selling your home without the right agent can be time consuming, stressful, and costly. Contact me to learn how my strategic marketing plan and my expertise will successfully price, market and sell your home in a way the is convenient, simple and affordable to you!

Whether you are buying or selling a home, hire someone like me, who wants to earn your business. I invite you to contact me as I'd be happy to assist you with this important transaction.

Simple Repairs That Will Help Your Home Sell

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Tue, 16 Dec 2008 05:41:31 -0600

Home improvements tend to inspire thoughts of large, expensive projects. Yet, it is often the little things that add so much value. Do you want to improve your home for resale or personal pleasure but don't want to spend a lot of money? Here are 10 improvements for under $100 each.

Mailbox

A tired old mailbox detracts from your home's appeal. Replace it with a new one made of quality materials. Depending on the style that best suits your home, you can choose brass, iron, or other materials. You can put one of those cute green mallards on it, or some other visual motif calculated to offend the neighbors.

Doormat

Anything at the front door will affect your enjoyment of your home as well as a prospective buyer's impression. Replace that worn, dirty doormat with a fresh new one.

Street numbers

Make your house easy to find with bold street numbers in brass, iron, ceramic, or other quality materials. Sure, those old falling-down aluminum ones work all right, but it would be better if the gap were filled where the "6" is supposed to be, don't you think?

Trees or shrubs

Landscaping is one of the best home investments you can make. A well-placed tree or shrub will add to your enjoyment and increase resale value. For under $100, you can choose from a wide selection of quality nursery stock and plant them yourself. If you like, you can play with some of the gardening software that's out there and get an idea of what your work will look like. Try to plan it out in advance; you can add a shrub at a time.

Perennial garden

A perennial garden will bloom year after year. This permanence makes it a landscaping fixture and thus adds value to your home. If you prepare and plant the garden yourself, your $100 will buy a good stock of perennials. For the best enjoyment and value, take the time to measure your property and use graph paper to design the best placement of your perennial garden. Many nurseries also offer free help with garden design.

Paint

Spruce up a room with a new paint job. The average room can be transformed with about $60 to $80 worth of paint (and that should also cover the cost of a paint roller and brushes). If you want to improve buyer appeal, then avoid trendy color schemes or overly personalized treatments. Choose from a wide selection of neutrals and timeless colors. If the room is a "problem room" -- small, narrow, dark (oops! that's a closet!) -- you can get even more value with a paint job that visually corrects the problem.

Doorknobs

If your doorknobs are made of cheap material (plastic, for example) or they're just worn and tired, replace them with quality knobs of brass, glass, or other suitable materials. You will appreciate the better quality each time you open a door. Prospective buyers will also notice them as they go through your house. It's roughly the equivalent of "let's slam the car door to see what kind of quality we're looking at here!"

Light fixtures

Cheap-looking, ho-hum light fixtures downgrade a room. Quality light fixtures can increase your own satisfaction and buyer appeal. The best return on investment is in the bathroom, kitchen, and at the front door. Quality, well-designed light fixtures for these areas can be found for under $100. Another room that benefits from an upgraded light fixture is the dining room. However, if your dining room is a formal one, you can expect to pay hundreds of dollars for a quality fixture.

Light switches and outlets

If your home is like many, it probably has basic plastic light switches and plugs. The easiest improvement anyone can do is to upgrade the light switch covers. The best places to do this are in the bathrooms, kitchen, master bedroom, and at the front entrance.

If yours is also an older home, it probably does not have GFCI (ground-fault circuit interrupter) outlets. These outlets (identified by the red reset button) are used wherever water increases the risk of shock. To improve safety and add value to your home, replace regular outlets with GFCIs in the kitchen, bathrooms, laundry room, and anywhere that water is present. This is an easy do-it-yourself job for anyone who knows electrical repairs (always cut the power at the main panel). If you are not familiar with how to safely replace an electrical outlet, hire a qualified electrician.

This will push the cost over $100 but it will be worthwhile.

Faucets

Corroded, tired-looking sink and bathtub faucets detract from your bathroom and kitchen appeal. While designer faucets can cost many hundreds of dollars, there are many quality, tasteful sets for less than $100. If you decide to upgrade bathroom faucets, it is worthwhile to buy matching sets for the sink and tub. Faucet replacement is an easy do-it-yourself job that requires only a few common tools (screwdriver, wrench, pliers) and an hour or two of your time. Instructions are usually included with the new faucet.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687
Copyright © 2008 By David C Recker, Rocky Mount Real Estate Guy. All Rights Reserved.. *Simple Repairs That Will Help Your Home Sell*

Price it Right

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Mon, 15 Dec 2008 06:08:05 -0600

Part of the reason so many houses here in the Rocky Mount area stay on the market for so long is that many are overpriced.

There are many reasons why Realtors list homes that are overpriced but that's not the topic of this post. I want to stick with the benefits of pricing your home correctly from day one.

The bottom line is that pricing your home correctly on the first day it is listed should lead to a quicker sale at a higher price. How can this be you ask. Let me explain.

The first couple of weeks your home is on the market are the best time to sell it. Since it is newly listed it will enjoy the most exposure, existing buyers will want to see the new listings, and agents will search for new listings several times a week. If it is priced correctly you should receive serious offers fairly quickly.

What is a properly priced home? That is a home that has a justifiable price supported by comparable SOLD properties, a home's physical condition that supports the asking price, and the comparable location of the home as compared to the SOLD listings.

What happens if it is not properly priced on day one? For purposes of this discussion let's say the home is listed for $150,000 but should have been listed for $130,000.

First, a good buyer's agent will know it is overpriced and either not include it for showings or explain that it is overpriced thereby reducing the likelihood the buyer will want to see it.

Second, if the buyer is qualified for a loan amount of $120,000 and they have a $10,000 down payment that totals $130,000 to buy a house. Their Realtor will search for homes that meet their criteria within their price range and will never see the overpriced home even though it may be a great home. This situation typically results in few if any showings. It's awful hard to sell a home that isn't being shown.

Third, buyers who are looking in the $150,000 price range will find and look at the home. However, as it is overpriced by $20,000 and truly will not compare to the homes that are worth $150,000. Therefore, it will be rejected by these buyers. This situation typically results in several showings but no offers. It's awful hard to sell a home that doesn't receive any offers.

After months of being on the market Mr & Mrs seller are ready to reduce their price to a more justifiable price. The first problem is that the person who would have thought is was the perfect house for them has already bought another. Next, once you start down the reduction path potential buyers start to think something is wrong with the house. Why else would you be reducing the price right?

Another problem is that your house has been on the market now for months. Every buyer asks "How Long Has This House Been On The Market". Again, the longer the house has been on the market usually means two things for a potential buyer. Either something os wrong with it or the sellers are becoming desperate to sell. Neither of these assumptions may be true but both effect whether this buyer will want to look at the house and ultimately how much they will offer if they choose to do so.

All of this could have been avoided if the house had just been priced properly to begin with.

How can you avoid this from happening to you? Work with a Realtor who understands the market, knows how to properly price your house, and can justify and document their suggested list price.

If you are thinking about selling your home give me a call. We can schedule a no obligation consultation to discuss this important subject.

3719 Carriage Farm Rd., Rocky Mount, NC - Just Listed in Old Carriage Farm

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Sun, 14 Dec 2008 10:41:13 -0600

Single Story For Sale in Old Carriage Farm

Wall-to-Wall Comfort!

• 1,461 sq. ft., 2 bath, 3 bdrm single story - MLS® $160,000 - Call Now!

Old Carriage Farm, Rocky Mount - This stunning 3 bedroom, 2 bath traditional won't last...it's so clean it shines. Your family deserves the best, so give it to them in this home in desirable and conveniently located family-friendly neighborhood.

Rocking chair front porch invites you in. Enjoy entertaining or relaxing with the family in the flowing living areas. Cathedral ceilings in most rooms offer a spacious, airy feel. Neutral colors throughout provide the perfect palette for your personalization. Berber carpet and vinyl flooring offer low maintenance - spend more time enjoying your home!

The open kitchen and dining area provide the perfect heart of the home - you'll love the time you spend in your gleaming kitchen with abundant lighting, adjacent dining area, and relaxing view of the expansive back yard. Exit from the dining area to a small covered side porch, or through French doors to the deck and back yard.

The master bedroom offers a large walk-in closet and a spa-like glamour bath. Plenty of room here with double vanities, garden tub with block window for natural light with privacy, separate step-in shower. Laundry area is conveniently located adjacent to the kitchen and master.

Popular split floorplan offers privacy with two secondary bedrooms and full bath. Large attached outside room provides additional storage. Attractively landscaped.

No need to look any further - smoke-free and pet-free, this home is like new.

Property information

Client Story #1 - Sellers needing to sell within 90 days

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Sat, 13 Dec 2008 04:29:45 -0600

Situation
I received a call from a couple needing to sell their home fast. The husband was a Deputy Sheriff in Nash County and had started a new job as a Police Officer in Knighdale, NC.

He had a deadline of when he had to relocate to Knightdale or he would risk losing his job. They had already listed with another Realtor for 6 months and the listing had expired with one showing.

Critical Issue
They desperately needed to sell their house within 90 days. Otherwise, he would be forced to rent an apartment in Knightdale and continue to maintain the house in Bailey. This was something they couldn't afford to do.

Capabilities Needed
When they called they were looking for an aggressive Realtor that could sell their house quickly.

What I provided
I provided accurate and justifiable pricing, simple suggestions to help the home show better, and a custom marketing plan to maximize the exposure within the appropriate buyer group.

Result
The sellers received and accepted a full price offer on their home. This transaction closed in 75 days thereby meeting their financial and timing requirements.

They were very pleased and used my services to purchase a new home in Knightdale, NC. They have since referred friends to me trusting that I would take good care of them as well. I have taken care of them and to date have helped one sell their home in Bailey, I have a second home currently on the market in Nashville, and a third who just contacted me to help them find a home in the Knightdale area.

This is how I grow my business, one satisfied client at a time.

David C Recker, Associate Broker, Realtor ® licensed in North Carolina. Reach David at: 252-442-2687

Copyright © 2008 By David C Recker, All Rights Reserved.. *Client Story - Sellers Needing to Sell within 90 Days* Contact David C Recker for all your real estate needs.

How to Get a Quick Sale in a Slow Market

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Fri, 12 Dec 2008 12:21:25 -0600

There are many things that determine if and when a house sells. However, three things stand head and shoulders above the rest. They are price, condition, and marketing. Lets take a look at these:

Price - Your home must have a reasonable and justifiable price. A good buyer's agent will look at comparables to determine if your house is priced correctly. Therefore, it must be priced within the range that comparable homes have SOLD for (reasonable) and the condition and/or unique features must justify your specific price.

Price is controlled by the market.

Condition - The condition of the property must support the price. The higher you are within the selling price range the better condition your house should be in.

Condition is controlled by the seller(s).

Marketing - It takes more than a yard sign and an ad in the Sunday paper to sell a listing quickly and at top dollar. You need to cast the widest possible net to gain the widest possible exposure.

Therefore, it is not surprising that analysis shows that fast sellers in a slow market have three common denominators:

They're priced better than comparable listings.
They show like model homes.
They have a full force of marketing, including enticing Internet photos, behind them.

Rocky Mount, North Carolina Area - Market Statistics for November 2008

David Recker (Connect Realty - http://www.NCRealEstateWeb.com) — Tue, 09 Dec 2008 05:49:19 -0600

The following are indicators of the Greater Rocky Mount Area Real Estate Market. These statistics were gathered from data contained in the Rocky Mount MLS system and predominately cover Nash and Edgecombe Counties in North Carolina.

Active residential listings totaled 1066 properties. This is a decrease of 32 properties, or 2.9%, from 1098 in October. Inventories typically rise in the fall as the number of buyers dwindle heading into the winter.

Newly listed properties totaled 128. This is a decrease of 36 new listings, or 21.9%, from 164 last month.

Sold properties totaled 60. This is a decrease of 28, or 31.8%, from last month's total of 88 residential properties sold.

Pending sales totaled 62. This is a decrease of 53, or 46%, from last month's total of 115 properties pending settlement.

The Greater Rocky Mount Area currently has a 13.1 month housing supply based on the previous 12 month sales rate. This is a decrease from the 13.5 month supply in October 2008.

Overall the local real estate market in 2008 is down by 24% for the first 11 months of the year when compared to the same period in 2007.

What does all this mean? The last several months have been significantly slower than they should have been. The local real estate market is in its second year of decreased sales and the credit crisis has definitely had a negative impact.

The local housing market is very saturated with available housing. Therefore, we are still in a strong "Buyers" market and will be for the foreseeable future. What is a Buyers market? This is when conditions exist that allows buyers to obtain concessions from sellers that they would not receive in a balanced market.

What is considered a "Balanced" or "Normal" market? Typically this is when houses sell between 3 - 4 months.

If you are looking to buy, this market is for you. In this market buyers typically get more for their money and receive seller concessions regularly.

If you are a seller this is not a bad time to sell. You just need to have a realistic expectation of your homes value and need to work with a Realtor that will provide maximum exposure for your property.

David C Recker, Associate Broker, licensed in North Carolina. David works at RE/MAX Classic Realty and can be reached at: 252-442-2687

Copyright © 2008 By David C Recker, All Rights Reserved. Rocky Mount, North Carolina Area - Market Statistics for November 2008. Contact David C Recker for all your real estate needs.