Jane's Blog

Still on the Fence?

2008-08-16T10:25:41Z

It's been a rough year so far for sellers in some areas and even a tougher ride for the buyers who are contemplating a change/move right now that don't quite have their financial plan together. The good news is in our particular area of housing, we are still appreciating a bit, but there is quite a bit of inventory right now. The buyers who can afford to take advantage of the situation are still weighing in their options "is this the best time?" or "should I wait and see?" All situations are different for each one of us but with the new Fannie Mae, Freddie Mac guidelines and for those who are self-employed, it has a dramatic affect that buyers are not yet fully aware. Interest rates are creeping up, fees are increasing, down payment assistance is going away, proof of funds are higher, etc. Is it better to wait? Take into account your individual situation- as in our area we do not see the "inflated" prices of homes. Homes in good locations still sell fairly quickly. The best advice I can give for people who are on the fence is to talk to your mortgage broker/lender and see what is the best plan of action to take. Too many are not doing this and find out they cannot buy what they thought they could six months ago. I think the consensus is, "I'll save more later, or I'm waiting until it bottom's out". This may sound like a good concept, but is it really? Just know your options

Mountain Bike Enthusiasts - New to Area

2008-03-25T08:31:17Z

For some of you that are new to the area, one of the most scenic areas to mountain bike is in Umstead State Park in Raleigh. It is my favorite place to go to get away from it all. I start heading that way about this time of year (not too cold and not too many people utilizing the trails). A friend of mine encouraged me to to take up this activity a few years ago and I have to say I enjoy it very much.

This park is centrally located and has approximately 20 miles of biking trails. Some of them challenging (hills). I usually pick up the trail at the Crabtree Park entrance off of Dynasty Dr/Rd. in Cary. It can be challenging to find a parking place now since they have banned parking on the main street. But this is also a walking trail, so watch out for the runners, rollerbladers and folks walking their dogs. It is a winding trail alongside a creek and behind some neighborhoods that open to Crabtree Lake. A few places to sit and take in the view along the way. This trail connects to Umstead Park's biking trail. I prefer to bike in the morning when it isn't as hot or humid and also prefer the weekdays rather than the weekends as it gets pretty crowded. A great link to view the trails of this park is located at http://www.trianglemtb.com/umstead.php. If you are looking for a town house in the area, a great one for consideration is the "Townes of Umstead Park". You can access the trail not far from this location.

I've been to others, such as; Blue Jay Point, Falls Lake - the one off of Six Forks Rd (but you have to watch when you go on that one since Hunters are out there at times), Harris Lake, Lake Johnson, and Crabtree Park. Still my favorite is Umstead Park.

Not in My Neighborhood

2008-03-24T15:01:21Z

I have come across some adverse feelings about some single-family home neighborhoods that first-time homebuyers feel are not particularly favorable. These neighborhoods attract first-time home buyers because the price range starts around $135K and up. First-time homebuyers hear advice from their friends, family and coworkers. As agents, I think it is important to point out the facts. To get a single-family home in this price range, you most likely will have to travel to areas that are farther away from town or in an area that homes are typically older and are in need of updating or repairing. These neighborhoods also attract investors, and the Housing Authority likes to purchase the newer homes with less maintenance that are in this price range.

What I would like to mention is: this does not necessarily mean that if an investor or the Housing Authority have purchased a few homes in your neighborhood that the value will decrease. Let me say that again, just because an investor or the Housing Authority have purchased a few homes in your neighborhood, it does not necessarily decrease its value. You may check the tax records to see how many homes in the neighborhood are rented vs. owned. You can ask your real estate agent to do an analysis to see if the homes are still appreciating. You can drive around the neighborhood and see if there are any signs - the exterior not being kept up to par - is generally a first sign. It's the buyers decision but we owe them the facts.

Is it a secret? Cary, NC homes that are Affordable?

2008-03-16T11:05:24Z

Yes, you can actually find some homes in Cary, NC that are under $250K. One of my favorite developments I feel that is under rated and has great potential is the "Northwoods" subdivision. Most of the homes were built in the 1980's, so you have to watch for the masonite siding and the "poly" piping issues, but this area has much to offer. Just the location alone is worthy as it has a close proximity to the major thoroughfares (EZ commute to RTP, downtown Raleigh, RDU and let's not forget shopping). And it is considered one of the best areas to live in Wake County. Many of these homes are being updated and the owners are showing pride in their landscaping. it is nice to see people out walking their dogs and the children playing in the streets with each other. I've notice this trend over the last few years and wondered if I stumbled upon the best kept secret in Cary. These homes average three bedrooms, two-in-half baths, with a 2 car garage. Lots average .20 acres and have established vegetation. There are no home owner dues and you can join the local community pool. Most of these homes have a transitional feel that appeal to many.

Raleigh Housing Market Not so Bad

2008-03-11T12:25:01Z

News Flash! The Raleigh housing market is not that bad folks. We are projected to grow 3% in 2008, and rated #2 in the country for growth. First being Wichita, KS. http://www.veros.com/news_Jan14_2008.html I'm still seeing multiple offers in good areas of Wake County and have noticed it has been picking up since the beginning of March. You still have some areas with a tremendous amount of new building (Garner/Clayton) that are having tough times if you are trying to sell. So much to choose from can be worrisome for those sellers that need to move on, yet a great time for those of you who want to buy. Keep in perspective of what you are reading. I'm not saying that its going to be a great year for real estate; however, it isn't all doom and gloom either. There are positives and those who are looking to buy right now can pick and choose in some areas. The phrase "location, location, location" still applies. Those that bought in great locations, are still selling. Remember that "top condition" brings "top dollar". Some things never change.