Jodi's Blog

Year-to-Date Market Update 2007 vs. 2008

2008-08-29T12:01:44Z

Year-to-date, the market in Chapel Hill, and Orange, Durham and Chatham Counties is down between 22-25% in total sales. There also is a 6 month supply of inventory on the market across the board, except in Chatham County where there is 10 months of inventory.. In Chapel Hill, the single family market is fairing better than the townhouse/condo sales. While total sales in each category is down 25%, average prices for single family homes are down 4% compared to 13% for condos/townhouses and average days on market are up 4% for single family homes verses a 38% increase in the condo/townhouse market. Although proportionately the same number of units are selling, condos and townhouses are taking longer to sell and having to give more on price. Elsewhere;

Orange County's sales are down 27%, average prices are down 5% and days on market are up 4%;
Durham County's sales are down 28%, average prices are holding their own at a 1% decline and days on market are about the same at 84; and
Chatham County's sales are down 22%, average prices are down 5% and days on market are about the same at 111.

New Tax Credit for First Time Home Buyers

2008-08-27T16:37:46Z

Last week, the President signed historic legislation to spur growth in the housing sector. An important part of legislation is a tax credit for first time home buyers. Under the new law, beginning April 9, 2008 (yes this is retroactive!), first time home buyers to get up to a $7,500 tax credit from the purchase of a single family home, townhome, or condo.

A first time home buyer is anyone who has not owned a home during the past three years and is a U.S. citizen who files taxes. (Some homeowners that do not file taxes may qualify. You can find answers to questions like this and many others at www.federalhousingtaxcredit.com and www.nahb.org/mythbuster.)

To qualify for the tax credit, buyers must close on their home purchase between April 8, 2008 and prior to July 1, 2009. You can claim the entire tax credit if single or head-of-household tax filers have an adjusted gross income that is less than $75,000. If you are married, this number jumps to $150,000. Single or head-of-household tax filers who earn between $75,000 to $95,000 (or married filers earning between $150,000 to $170,000) are eligible to receive a partial first-time home tax credit.

The tax credit can be taken in 2008 or 2009. It works as follows. If a taxpayer pays less than $7500 in federal income tax, the government will write them a check for the difference. Those who pay more than $7500 in federal taxes, would reduce their tax bill by the amount of the credit allowed.

There is a catch -- would'nt you know it! The catch is that there is a payback provision. Essentially, the credit is like an interest-free loan that must be paid back over 15 years. If you claim the $7500 credit, you would have to repay the credit at $500 per year. If you sell your home, then the remaining credit would be due from the proceeds of the home sale. If there is no profit, however, the remaining credit payback would be forgiven.

This is a great option for first time home buyers to consider when thinking about moving forward on the purchase of a home. If you have any questions about this, don't hesitate to contact Team Jodi. We would be happy to answer any and all questions about this new legislation.

Answering the Tough Questions

2008-08-25T16:41:24Z

Today a prospective homeowner turns on the T.V. or picks up a newspaper and hears little about the housing market but doom and destruction. Foreclosures, mortgage-loan related bank failures, slow housing starts, and poor home sales dominate the news. Tougher credit requirements are now the norm as a remedy to further financial trauma for consumers and banks alike. All of this may lead a would-be buyer to quickly answer the question "Is now a good time to buy a home?" with a resounding "NO!"

Before signing that apartment lease for another year, a would-be buyer scared off by current events in the housing market needs to look behind the scenes of the mortgage crisis. Though the situation is complex, in analyzing the causes, there is plenty of blame to go around.

Aside from the popular scapegoat - the general economy - buyers, real estate agents, and lending institutions all share some blame for the current situation. Home ownership is the American Dream. Nowhere is written that the perfect home must be the size of the Taj Mahal and must be located in an upscale development. Many buyers today have been mesmerized by beautiful homes that are too big, and egged on by realtors and enabled by banks, bought more house than they could afford. Even when people get pre-qualified by banks, the amount of home that a consumer can theoretically afford might really leave him "house poor" because they did not consider many costs of ownership in the new neighborhood. Buying a house on a such a tight budget that there is nothing left for a new shower curtain, a night out, or an emergency repair quickly takes the joy out of homeownership; a major life crisis or job loss can result in equally quick foreclosure.

Many news stories have focused on unscrupulous mortgage brokers who took advantage of uninformed consumers to tie them into unfavorable loans, but some consumers were knowing parties in schemes that put them in homes beyond their means. Some banks were too liberal in granting loans to questionable buyers who presented information that could not be verified, but sometimes people did not provide complete and honest information to lenders either. Personal greed and irresponsibility figured heavily in the crisis.

The person who should answer "YES" to the question of home ownership now is someone with good credit, a stable job, a down payment, and reasonable expectations of what he wants vs. what he can afford. For the responsible person with a desire to be a homeowner, who meets the financial criteria, there are unique opportunities in the current marketplace.

Many foreclosed homes on the market offer great bargains for qualified buyers.
It's also a buyer's market with most pre-owned homes on the market.
Though there may be less negotiation possible on new construction, especially for upgrades, federal and local tax incentives for new homeowners may put a brand new home within the realm of possibility.

While it's true that lending institutions are less likely to stretch out to grant questionable loans this year, banks are still committed to making mortgage loans to prequalified buyers. They still offer pre-qualification services to give would-be buyers an indication of how much house they can afford and whether they would qualify for a mortgage. Good real estate agents are still interested in matching buyers with homes in their realistic price range. For qualified buyers, this is a great time to enter the world of home ownership.

Eco-Friendly Siding Options

2008-08-22T19:01:44Z

Sustainable siding needs to contain eco-friendly ingredients as well as be a product that will stand the test of time. When considering the eco-friendliness of a particular type of siding, make sure to account for any resins and adhesives that may have an off-gassing effect. Some popular green siding options include solid wood, fiber cement, metal, engineered wood, and stucco.

Solid wood: FSC-certified or repurposed wood products are the most environmentally friendly choices for solid wood siding. This renewable material does, however, require frequent maintenance.
Fiber cement: Products like HardiePlank^TM from James Hardie offer the look of natural wood with the durability and affordability of the mix of cement and wood fibers.
Metal: Aluminum and steel compositions are usually made of recyclable materials and can result in a very modern and sophisticate look.
Stucco: Low-maintenance and durable, stucco is a classic cement-based treatment.

Oversupply of Luxury Housing

2008-08-22T18:46:48Z

Residential housing priced at $500,000 and above is currently oversupplied, according to the Second Quarter 2008 Triangle Area Residential Realty Report published by S.M.A. Publications, Inc. The report uses data from www.realtor.com, Durham, Orange, Chatham and Wake County Revenue Departments to support their findings.

The 2005 market on the fringe of having an oversupply in the luxury sector, and by 2008 luxury inventory grew 130% and sales simply couldn't keep up. Realtor.com showed 991 luxury listings at the end of he second quarter in 2005, and by the same time in 2008 those listing had increased to 2,279. Between 2005 and 2008, North Raleigh and Southwest Wake had the highest percentages of growth in the luxury sector at well over 2005 each, with Durham at over 150%. While homes sat on the market an average of 9 months in 2005, the current supply is now at 17 months.

This growth in the luxury segment has reached a point that it is not healthy for the market. In 2005, increasing costs of land and development led developers and builders to create many luxury priced communities, resulting in an overflow of homes that the 2008 market cannot currently support.

Thinking of Stucco?

2008-08-20T13:08:21Z

In North Carolina, sellers are required to discole if a house's exterior is actually artificial stucco-EIFS Stucco-instead of concrete stucco. EIFS is basically a form of styrofoam placed on the outside of the house with a "stucco" look-alike finish on the surface. While a house with EIFS can absorb the inevitable settling of the house over time without cracking, it does come with other hazards. Unfortunately, EIFS stucco applied on a wood-framed home (especially if not applied properly) tends to hold moisture inside the walls, which can cause the houses wood and frames to rot. If you fall in love with a home with this artificial stucco, before purchasing the home you should insist the seller replace the stucco with an appropriate new finish, and make any repairs needed at their own expense. It may even prove helpful to request an engineer's report and documentation of repairs.

Concrete stucco homes are less able to absorb settling changes without cracking, and it is important to make sure the foundation is engineered to support the extra weight of the stucco. Whichever kind of stucco you encounter, a professional inspection will alert you to any problems, notify you of any areas you need to keep caulked, and alert you to what to potential signs of trouble in the future.

Energy Efficient Windows

2008-08-15T16:53:09Z

Energy efficient windows are available in many shapes, sizes, and styles-single pane, double pane, and triple pane, casement and double hung and more. There are energy efficient windows to meet any practical and aesthetic need. Energy conservation in the home is no longer limited to only the plain and functional.

Not only are energy efficient everyday window styles easy to find, but there are many other specialty styles that use the same energy efficient technologies. For example, sliding patio doors and skylights can now be made of efficient materials, and bay windows can be built using various components of other energy efficient window systems. Energy efficient windows not only help the environment and your utility bills, but also increase curb appeal and add value to your home.

Los Angeles Times Axes Real Estate Section

2008-08-14T17:23:26Z

The following article was recently posted by Inman News.

Los Angeles Times axes real estate section

Expect continuing cuts in newspaper industry, says analyst

By Glenn Roberts Jr., Monday, August 4, 2008.

Inman News

The Los Angeles Times has ceased publication of its weekly real estate section -- born more than a century ago -- amid major staff cuts.

In mid-July, newspaper managers began to carry out the "largest staff and production cuts in the newspaper's history," according to an article in the Times, citing "a continuing slide in advertising revenue." The newspaper has a circulation of more than 1 million and ranks among the largest newspapers in the nation.

Staff and content cuts are certainly nothing new for newspapers, and a media analyst told Inman News that similar downsizing will likely continue to plague the industry as ad dollars continue to shift online.

The cutbacks initiated last month at the Los Angeles Times had initially targeted about 150 newsroom employees, or 17 percent of the company's newspaper and Web site editorial staff, according to the Times article, with plans to cut 100 positions in other departments.

Times Publisher David D. Hiller resigned the day after the cutbacks began. Times Editor Russ Stanton announced on July 30 that 135 newsroom employees were laid off, and content cuts have led to 14 percent fewer pages.

Such major cuts at that paper and others have triggered questions about how the industry can properly inform readers about community news in the face of staff cuts, the article notes.

Stanton had earlier stated in a letter to readers that "The future of the Los Angeles Times, in print and online, rests in our ability to meet the needs of our readers and deliver news and information that is unique, far-reaching and indispensable. In-depth journalism remains our hallmark and we are committed to that mission in the face of economic challenges to our industry and our nation as a whole."

He announced that the newspaper's "Home" section would move from Sundays to Saturdays and would combine with "Real Estate," amid other changes -- "Book Review" was merged with an "Arts & Books" section to become "Arts and Books," for example, and the Times had earlier announced the termination of its weekly magazine, among other reductions in content.

Lauren Beale, real estate editor for the Los Angeles Times, wrote in a July 27 blog post at the newspaper's L.A. Land blog, "because of reductions in staff and space, the Sunday Real Estate section has printed its final edition."

She noted that the newspaper would continue to publish real estate coverage throughout the week and a few regular features of the section would continue in the Saturday "Home" and Sunday "Business" sections.

Beale began working for the newspaper's Real Estate section almost 29 years ago. "There's a journalism term for finishing an edition's work: You put the section to bed. When I started as a part-timer in this department ... under then-editor Dick Turpin, I never dreamed that one day I'd be putting the section to bed for good," she wrote. The newspaper's Real Estate section had launched in 1901.

She told Inman News that some other major newspapers have abandoned editorial-produced real estate sections in favor of advertising sections that she referred to as "advertorial," or ad-based real estate content.

Readers' online comments about the end of the weekly Real Estate section ranged to the extremes, from anger at its cancellation and the media company's owner Sam Zell to ugly condemnation of the section.

A supporter of the section wrote, "it was informative (plenty of question-and-answer columns for renters, condo and home owners), presented the facts, and provided some entertainment." That reader planned to cancel the newspaper subscription over the loss of its Real Estate section, according to the post.

"I'm more of a news, business, sports guy, so I didn't read the Real Estate section," wrote another Times reader. "But I am disturbed by the prospect of some of our big city papers being dramatically downsized or going away. The Internet (is great at) distributing other people's content, but not so much at originating it ... papers like the L.A. Times, imperfect though they may be, still frequently play an important role in keeping our other institutions honest."

Meanwhile, another wrote, "I'm probably not going to miss the Real Estate section. The only thing I ever read in the Real Estate section was the story of how some self-absorbed celebrity is selling his mansion for $10 million, which was always curiously $8 million more than similar-sized homes in the same area."

Helene Lesel, a real estate writer whose syndicated "Rental Savvy" columns have run in the Los Angeles Times for the past seven years, said her column is one of the casualties in the demise of the weekly section.

"They're not going to accept anymore syndicated material -- there's not anywhere to put it," said Lesel, whose columns are distributed by Inman News. "I had read that section since I was a little kid." The Times seems to be focusing more on the Web these days, she said. "It's a whole new world out there."

Stanton's letter last month did state that the newspaper's Web site "just recorded its biggest month ever in June with 115 million page views, a 50 percent increase over last year," and Stanton also noted that readers "embraced" some of the Web site's new blogs.

Real estate ad budgets are shifting toward online media -- and that shift is likely permanent, said Colby Atwood, president for Borrell Associates, a media research and consulting firm.

"Real estate advertisers during this downturn are going to be trying the Web, some of them for the first time, and once they do they won't go back," Atwood said.

There has been a drop-off in real estate advertising spending in print publications, owing to the housing downturn and this shift to online media, which can be "more efficient, more trackable" and offer a better return on investment.

"It is not surprising that newspapers are starting to scale back their real estate sections. The decision by the L.A. Times is an example of things that we're going to see more of as (newspapers) manage the contraction of their business -- which is what metro daily newspapers are going to be about for the foreseeable future," Atwood said.

And while some of the ad problems newspapers are facing now with the severe downturn in the housing market are cyclical, Atwood said not to expect ad money to flow readily back into print when the market recovers and rebounds.

"Truly fundamental shifts are taking place in the advertising industry and a lot of advertising media are not coming back. (Advertisers) are going to be hard-pressed to justify spending money on things they now know are inefficient," he said.

A Borrell report released last week states that the newspaper industry suffered a record decline in revenue from classified print ads in 2007, "driven largely by a 23 percent fall in real estate classifieds."

The report also states, "Newspapers are beginning to understand that their most valuable franchise is not local news, but local sales information," and about half of the people who buy a newspaper do so for the advertising content.

Local news may not be a big selling point for local advertisers: "The epiphany that newspaper managers are beginning to experience is that local news and community information (as opposed to national news) may not attract a large or particularly attractive audience for small advertisers," according to the report, noting that the Internet is quickly growing in popularity among small advertisers, with local online advertising increasing at a rate of 61 percent this year.

Residential real estate agents and brokers are expected to spend about 25 percent of their ad budgets with newspapers this year, with 12.8 percent going to online sources and 24.2 percent toward television ads.

Meanwhile, residential real estate developers are projected to spend about 47.9 percent of their total ad budgets with newspapers and about 30.2 percent online; and mortgage providers are expected to spend about 8.9 percent of their ad budgets in newspapers and 22.1 percent online this year.

--Inman News reporter Matt Carter contributed to this report.

What do you think? Is the real estate section a thing of the past? How does it affect your market?

Home Wiring

2008-08-13T15:43:59Z

It is important to consult a reputable home inspector to check the home wiring before purchasing a house. Knob and tube type wiring and aluminum wiring are common in older homes, and both are considered substandard today. In fact, many insurance companies will refuse to insure homes with these types of wiring, and since banks require homeowner's insurance before extending mortgage loans that are conditional on the ability to obtain insurance, this is significant. Knowing what type of electrical system you're dealing with is crucial when trying to close a real estate transaction. Knowledge is power.

Commonly used in homes built in the early 1900s, knob and tube wiring derived its name from the ceramic knobs securing the wire and the ceramic tubes that pass through the wood framing. The primary main issue with this type of wiring is that the insulation surrounding the wiring can break down, creating a potential fire hazard. Aluminum wiring was common in the 1960s and 1970s and it now known to be a potential fire hazard due to arcing at the connectors, which causes overheating at switches and outlets or splices in the wire.

It can be very expensive to remove and replace both knob and tube wiring and aluminum wiring. If you think your potential future home may have substandard wiring, it's especially important to have inspected by a professional. In any case, it's always a good investment for buyers to keep their offer conditional on a home inspection.

Short Sales

2008-08-07T17:52:11Z

What is and is not a Short Sale?

A short sale is an arrangement between a homeowner and their lending institution to accept an offer on the home for less than the total amount owed on the property.

A bank-owned house, or foreclosure, is not a short sale. A seller deciding to lower their price and take less profit is not a short sale. To have a short sale, one of the parties has to be "shorted"; either the seller or the bank.

To further explain the difference; with a typical foreclosure situation, homeowners fall behind in their payments and the bank repossesses the house and sells it. In almost all cases, the bank pursues the homeowner for the deficiency (the difference between the amount owed and what the bank collects at the short sale). The only real way out of this type of situation is to file bankruptcy.

In the case of a short sale, a homeowner owes more for their house than they can sell it for. In other words, they are upside down. With a short sale, the owner goes to the bank and tries to arrange for the lender to forgive the difference.

What about the Deficiency?

Because of the large and growing problems with homeowners defaulting on their loans, the rules about short sale deficiencies have changed. Previously, the deficiency could be 100% loaned to the seller in the form of a promissory note which would have to be repaid. If the bank wrote off any portion of the deficiency, this would be reported on the owners 1099 as income. New and important tax rules have changed this! If the home that is the subject of the short sale is a principal resident - vs. an investment property - and that home is worth less than or equal to $2 million, the tax on the deficiency will be forgiven. This is huge.

How Does A Homeowner Qualify for a Short Sale?

There are four criteria a homeowner must meet to qualify for consideration by the lender for a short sale:

There must be a demonstrable financial hardship, e.g., a lost job or material change in the financial situation;
There must be a monthly shortfall;
There must be insolvency, meaning that the owner does not have the money to pay down the mortgage; and
The owner does not have any assets to sell to pay for the shortfall.

What is an acceptable Hardship?

There must be a hardship that is preventing the owner from being able to pay their mortgage. Examples include:

Loss of job

Business failure

Damage to property

Death of a spouse

Death of family members

Severe illness

Divorce

Inheritance

Mandatory job relocation,

Medical bills

Military service

Payment increase or Mortgage adjustment

Insurance or tax increase

Reduced income

Separation

Too much debt

Incarceration

What is the Insolvency Requirement?

The owner must not be able to pay down their mortgage. To qualify for a short sale, the homeowner must be financially insolvent. This means that they owe more than they have and they do not have liquid cash or assets that could be used to buy-down their mortgage.

If the owner does have liquid cash or assets they will be expected to use them to pay down their mortgage. There could be a scenario where an owner made a contribution towards the sale of the property and the lender covers the shortfall.

A short sale is not a way to get out of a mortgage. It is a tool for a borrower to use when they truly can't pay their mortgage.

Short Sale vs. Foreclosure

The major difference is that a foreclosure is a credit item that can last forever and a short sale is not.

Prior to 2007, a homeowner would receive a 1099 for any debt that was forgiven in a short sale or a foreclosure. In effect, the cancelled debt was considered income. The Mortgage Forgiveness Debt Relief Act of 2007 changed this rule.

From January 1, 2007 to January 1, 2010, the tax on debt cancellation in a mortgage discharge situation is eliminated if the debt was incurred in the acquisition of a principal residence and he cancelled debt is less than or equal to $2,000,000.

Debt from a second mortgage or HELOC is not eligible nor is cancelled debt from investment properties and second homes.

The Durham Performing Arts Center will soon be a reality

2008-04-25T11:14:55Z

North Carolina will have a new live entertainment theater like no other. This venue is specifically designed to present the biggest shows on tour. The Durham Performing Arts Center (DPAC) puts you close to the stage, with no seat further than 135 feet. The DPAC will feature world-class performers, spacious seating, state-of-the-art sound and lighting and convenient parking. DPAC allows you to experience live performances in an entirely new way. The new venue is slated to open in December 2008. Season Tickets are currently on sale.

After years of discussion and planning, the design phase of the DPAC was completed in February 2006. Construction began in September of 2006 and will finish in November 2008. A 10^th anniversary production of Rent will begin the season next January, followed by Fiddler on the Roof in March, Legally Blonde The Musical in April and The Color Purple, which closed on Broadway Feb. 24^th, 2008, after 910 performances, in May. Meanwhile, the long-running smash Wicked, which opened on Broadway in late 2003 and has been touring the continent since 2005, has been confirmed as the main attraction for the 2009-2010 series.

The excitement and anticipation for the Durham and surrounding communities continue to grow as the project nears completion. You can check the progress of the construction at View the Skanska USA DPAC webcam

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

North Durham Gem

2008-04-25T11:01:26Z

This Lovely spacious home on a Landscaped lot in desirable Greyson's Green is located at 5 Petersburg Place. This 2 story home has a wonderful sized kitchen which is open to the adjoining family room and breakfast areas. The home has separate living and dining rooms for a more formal feel. The large master suite features dual vanities in the bath as well as a large garden tub, separate shower and a walk-in closet. The 2 secondary bedrooms have a "Jack & Jill" shared full bathroom. AT just under 1900 square feet, this 3 bedroom, 2 ½ bath home has all the space you need. The backyard as well as the front have been lovingly landscaped and cared for. The backyard is fenced for privacy and features hardwood trees for afternoon shade. This home is on a private cul-de-sac lot. Greyson's Green has a community pool and tennis courts which are just a short walk away.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Incredible Chic Renovations in Carrboro

2008-04-25T10:56:39Z

Incredible chic renovations in this 4 Br home on a .5 acre lot walking distance to downtown Carrboro. Beautiful bamboo floors in the main living areas & Master BR & HW flrs in 3 other BRs. Fantastic lighting, decorative archways, smooth ceilings & skylights make the home light & inviting. All new updated kitchen with SS appliances, new cabinets, countertops, sink and faucet. Master bedroom suite recent addition with incredible bath with large tile shower and wonderful walk-in closet. Tasteful landscaping to enjoy the great lot on a wonderful Carrboro street. All new interior paint, redone, updated electrical system & more. There are two outbuildings, one large wired workshop and another for storage. The house has both a termite warranty and a home warranty as well. This home is located in an extremely friendly established neighborhood on a quiet, dead-end street. It is a 10-minute walk to the Carrboro Farmer's market and less than 1 mile to Weaver Street Market and downtown Carrboro. It is 5-7 minute drive to downtown Chapel Hill.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Majestic Horse Property in Orange County (Chapel Hill, NC)

2008-04-25T10:54:08Z

Welcome to Avalon Farm, a majestic 9+ acre horse property. Walk the property and see lovely views, streams and see and hear the peaceful sites and sounds of fox, owls, deer and many different birds. Enjoy the large pasture with three board fencing; the four stall barn with feed and tack rooms; the two paddocks and dog run; and the dressage ring. The barn even has over 700 square feet of unfinished space perfect for an apartment, studio or bonus room. The house at Avalon Farm is a beautiful custom built, one-level brick home. This house was tastefully designed to maximize your view of the property. Sit in the large office or living room and gaze upon the pasture and horses, or catch an incredible sunset. Sit in the family room while others are preparing dinner and feel surrounded by woods. This 3500 square foot home, with 4 bedrooms and 3.5 baths is well designed with a perfect flow. All of the bedrooms are a generous size. There are vaulted ceilings in the family room, dining room and master bedroom. Most importantly, there is a gourmet kitchen with custom cabinets, stainless steel appliances and solid surface countertops. The kitchen is well designed and open to the breakfast and family rooms. Avalon Farm is conveniently located. It is 10 minutes to Chapel Hill/Carrboro; 10 minutes to Hillsborough; 25 minutes to Research Triangle Park & Raleigh Durham International Airport; and an easy commute to Greensboro.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Best Value in Hope Valley Farms

2008-04-25T10:50:30Z

This beautiful home is the best value in Hope Valley Farms. 4604 Dolwick Drive is a 4 bedroom, 2 bath home with 1460 square feet. This home features a 1^st floor master suite with 3 spacious secondary bedrooms on the 2^nd floor. The kitchen is large and features a spacious eating area. The living room has hardwood floors and a lovely gas fireplace that is the focal point of the room. Upon entry into this home, you instantly have a warm and welcoming feeling. The exterior space is just as welcoming. The stone paver walkway along the side of the home leads you to the backyard and the expanded deck/patio area that is perfect for outdoor living or entertaining. The backyard itself is flat and the perfect space for gardening or play. Hope Valley Farms is nestled in the highly desired SW section of Durham. The neighborhood features many amenities such as a community pool, tennis courts and playground. The American Tobacco Trail also is within easy walking distance where you will find walkers, joggers, cyclists and rollerblading. The location can not be beat. With it's proximity to Duke, UNC and RTP, as well as easy access to Interstate 40, you can be at most any destination within minutes.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

New Construction with the Best of Everything in Chapel Hill

2008-04-25T10:47:30Z

Stunning home with the best of everything in Chapel Hill's Cross Creek neighborhood. Open the door and the American Cherry hardwood floors and the lovely detailing throughout will catch your eye. The family room has an 11' high coffered beam ceiling and soothing stone fireplace. The kitchen has the best of everything: custom cabinets, granite countertops, stainless steel Viking appliances including a 6-burner gas cooktop and a 36"built-in refrigerator. There is a lovely first floor master and 5 additional bedrooms. There are two bonus rooms on the second and third floors both with custom cherry built-ins designed for at least a 50" flat panel TV. There are two laundry rooms on the first and second floors. The house sits on a very nice .5 acre lot. There is an irrigation system and a very nice backyard. Cross Creek is an executive neighborhood located off Weaver Dairy Road in Chapel Hill. It is minutes to East Chapel Hill High School and very convenient to downtown Chapel Hill and the University of North Carolina at Chapel Hill. This neighborhood is only 10-15 minutes to Duke University, has very easy access to I-40 and is approximately 15-20 minutes to Research Triangle Park and the Raleigh Durham International Airport.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Immaculate Townhome Convenient to UNC Chapel Hill

2008-04-25T10:43:40Z

This townhouse is located at 68E Cole Place in Chatham County's Cole Place neighborhood. This home is over 1500 square feet with 3 bedrooms and 2 ½ baths. There are hardwoods throughout the first and second floors. The living and kitchen areas are bright and sunfilled. The kitchen features new countertops and and expanded island with seating for 4 making it a wonderful eat in space. The master suite is large and features a walk-in closet and large bath. There is floored attic space accessible through the pull down stairs. There is a one car garage and a fenced patio area for privacy. The neighborhood is convenient to both Chapel Hill and Pittsboro and close to area shopping.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Stunning Home with The Best of Everything!

2008-04-25T10:39:10Z

Exquisite executive home in Brackenridge with the best of everything on a gorgeous 3.7 acre lot. This 4 bedroom, 4+ bath home has over 6,000 sq. ft. Open the door to taste and elegance throughout. Be welcomed by a gracious marble foyer leading to Brazilian cherry floors with an ebony inlay in the dining room, living room and great room. There iss a very generous size dining room with a lovely trey ceiling. As you enter the great room you see dramatic soaring ceilings, incredible windows and a floor to ceiling limestone fireplace. There is an elegant two-story curved staircase taking you the second floor and lower level. The kitchen has it all with cherry cabinets, granite countertops, all top-of-the line stainless appliances including two GE Monogram ovens, two Bosche dishwashers, a Wolf gas range with an additional two ovens and a built-in Sub-Zero refrigerator. There is a first floor master suite with two additional bedrooms on the second level as well as a large loft and a very large bonus room over the three-car garage. The lower level in this home is the finest. There is a large 4^th bedroom that could be an additional master suite. There is also a large family room and sports bar that can't be beat, an exercise room and a high quality, first class home theater with a 92" screen that seats 8-12 comfortably. Brackenridge is a large executive home neighborhood located about 15 minutes from Cary.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Elegant Plantation Style Home in Lake Hogan Farms

2008-04-25T10:35:12Z

This Elegant Plantation Style home is a former Parade of Homes entry by Homescape Builders. The details in this home will astound you. The two story foyer greets you upon entry. There is crown molding throughout the first floor and chair rail molding and wainscoting in the formal dining room. French doors lead into the family room from both the foyer and living room. Custom built-in bookshelves and cabinets frame the tile surround gas fireplace. From the family room, the views of the backyard and surrounding area are beautiful. The family room opens to a true cook's kitchen. From the solid surface countertops and stainless steel appliances to the custom cherry cabinets, the kitchen is impressive in every detail. This 4 bedroom, 2 ½ bath home has over 3000 square feet of finished living area and also has a 3^rd floor walk up unfinished attic that is rough plumbed. There is also a large utility room with sink on the 2^nd floor as well as a large bonus room. The rear deck has a crank out awning and has a gas hook up line for outdoor grilling and entertaining. From the solid wood front door under the 2^nd story porch to the oversized garage, every detail of this home has been lovingly taken care of. Lake Hogan Farms is a highly sought after community with walking trails and community amenities including a clubhouse, tennis & basketball courts and a swimming pool.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Custom Built Adirondack House is a True Storybook Home

2008-04-25T10:32:14Z

This custom built Adirondack house is a true storybook home. This unique home sits on 3.7 acres. There are hardwood floors throughout the main level including the cook's kitchen. High ceilings, wide open spaces for entertaining and an elegant floor to ceiling stone fireplace are but a few of the details that make this home stand out. The kitchen has double Thermador stainless steel ovens, a 6 burner commercial grade stainless steel cooktop, a stainless steel microwave and built in Amana refrigerator. The tile countertops complete this wonderful space. There is a first floor office that could be used as a 4^th bedroom. Off the family room there is also a large screened porch and 2 huge decks for outdoor living and entertaining. The bedrooms are large and the home features custom woodwork throughout. The property also features an extra large 2-car garage with over 400 sq. ft. of unfinished space above. If all of this is not enough, there is also a full unfinished walk-out basement. Great space, large rooms, incredible details. This home has over 3000 square feet of finished living area with 3-4 bedrooms and 3 ½ baths. This home is located just minutes to New Hope Elementary, around the corner from Stanback Middle School, minutes to I-40 for easy access to the Triangle area and approximately 10 minutes to Chapel Hill and 20 minutes to Duke.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Stunning End Unit Townhome Convenient to Duke & UNC-Chapel Hill

2008-04-25T10:28:12Z

This stunning end unit townhome is located at 64 Scottish Lane in Durham's MacKenzie Place neighborhood. The home's interior has been freshly painted in elegant colors. The home features a new kitchen floor, new carpet in the downstairs master, crown molding as well as chair rail molding & wainscoting. There are hardwood floors in the main level living areas as well as a striking fireplace in the living room. All of the 4 bedrooms are generous in size and there is a spacious landing area on the second floor that is currently used as an office space. The large front porch is perfect for rocking chairs and there is also a large side deck for outdoor entertaining. At over 2000 sq. ft. this 4bedroom, 2 ½ bath townhome has the perfect amount of space. MacKenzie Place is an ideal location. The community is approximately 5 miles to both UNC and Duke and less than 15 minutes to Research Triangle Park. Area shopping and restaurants are less than 5 minutes away.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Impressive North Chatham County Retreat

2008-04-24T12:52:46Z

This impressive home in the North Chatham's Hawfields neighborhood is a must see! 24 Pine Ridge is a 3 bedroom, 2 ½ bath stately home on over 5 acres. This home's interior has been freshly painted and features a large cook's kitchen, spacious formal living & dining rooms, a bright and open sunroom and large media room. In the family room there is a beautiful solid stone fireplace and lovely views of the property. There are 9' ceilings and a large master suite. The exterior features a 2 car detached garage, a 2 story deck with screened porch, newly landscaped flowerbeds and a fenced ¼ acre portion of the property that is perfect for children and pets. The home has a water purification system and is wired for a generator that is protected with "whole house" surge protection. Hawfields is located 15 minutes to Chapel Hill. It is Less than a mile to Perry Harrison Elementary and Middle Schools, 10 minutes to Pittsboro, and 30 minutes to Research Triangle Park. The neighborhood is quiet and majestic with rolling hills. There are approximately 25 homes on typically 4-6 acre lots. Hawfields is about a 1/2 mile from the beautiful Haw River, which is a valuable natural resource running from the headwaters of the Cape Fear River Basin to Jordan Lake. The Haw River provides drinking water to many communities, important habitat for wildlife, including endangered species, and recreational and scenic areas.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Southern Charm & Spacious Living

2008-04-24T12:48:25Z

Southern Charm and spacious living in this pristine home with a wonderful rocking chair front porch. This home has a brick front with coining details on corners. Inside there are hardwoods on the first floor. New carpet upstairs and interior paint done in 2006. There are formal living and dining rooms as well as a large family room with a wall of windows making this room open & bright. There is a gas fireplace in the family room with a marble surround. The dining room and entry foyer feature wainscoting and chair rail molding. There is crown molding throughout the living areas on the first floor. The kitchen features 42" mable cabinets, a smooth top range and all black appliances. There is a bedroom on the first floor that is perfect as a guest room or study. The expansive master suite is located on the second floor and has a vaulted trey ceiling and a large walk-in closet. The light filled bonus room has a wonderful storage closet as well. The backyard is fenced and features a screened deck and separate patio. This 4bedroom, 3 bath home is approximately 2700 sq.ft.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Best Location In Hope Creek, Convenient to Duke & UNC

2008-04-24T12:45:11Z

This home has an excellent and appealing floor plan in the best location in Hope Creek Located at 4304 Forest Edge Trail, the features in this home are truly exceptional. This home has both a first floor master suite and a first floor guest suite as well as hardwood floors throughout the main level. The home features 5 elegant curved archways on the main level. The open living room features a 14 ft ceiling and a gas fireplace with marble surround. The main level has crown molding throughout and 3-piece chair rail molding and wainscoting in the living room, dining room and foyer. The kitchen is a chef's dream with granite countertops, under cabinet lighting, stainless steel appliances and a large island. At the opposite end of the house is the private guest suite with its own full bath. The second floor has 2 additional bedrooms and a large finished bonus room. The attention to detail is not confined to the interior of this home. Outside there is a large screened porch with an attached sun deck. For outdoor grilling, there is a convenient gas line hook-up as well.The position of this 4 bedroom, 3 bath home within the community is perfect. Nestled in the back of Hope Creek, the setting is both peaceful and serene. Hope Creek is a lovely neighborhood with custom built homes. The neighborhood is conveniently located and is approximately 10 minutes to Duke University, 15 minutes to the University of North Carolina Chapel Hill and 15-20 minutes to Research Triangle Park and RDU Airport. It is also within walking distance of Trinity School.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate

Orange County Ranked High In Places to Retire

2008-02-22T18:45:16Z

Recent retirees have been flocking to the beautiful locations in Orange County North Carolina. The area has recently been ranked in the top 5 places to retire buy U.S. News and World Report.

With the beautiful undeveloped lush land, wonderful leisure activities, and plenty of shopping and exquisite dining it is no wonder why.

There are plenty of public golf courses and county clubs for rest and relaxation. Museums and exhibits are always around the corner to satisfy your educational interests.

Also, the area has high quality medical facilities and plenty of in home care available.

All in all, Orange County of North Carolina is a great place to make the rest of your days the best.

Chapel Hill | Durham North Carolina Real Estate

Chapel Hill North Carolina Real Estate