Raleigh Realtor

The Housing and Economic Recovery Act Tax Credit - just what does it mean???

2008-08-28T09:49:45Z

This morning I was thinking about the Housing and Economic Recovery Act recently passed and it got me to thinking about when Lee and I bought our first home. We had been renting the first few years of our marriage in a suburb of Pittsburgh and we really couldn’t wait to own our own home. It was Lee’s VA eligibility that allowed us to even consider buying a home. I don’t remember how many homes we had looked at but when we found the one on Leon Drive it was perfect for us. With its 2 bedrooms and a bath upstairs – living room, dining room and kitchen on the main – we were so excited! There even was an unfinished basement where our washer & dryer was. Now anyone that’s renting or has rented knows what a joy and relief it is to be able to do your laundry without hauling it to the laundry mat! It even sat on ¼ acre mature lot that made Lee smile… what a very special time that was…

So let’s look at this tax credit that's available to any one that hasn’t owned a home in the past 3 years. You must be a U.S. citizens (of course you have to file taxes since it’s a tax credit). AND you must close on the property between April 9, 2008 and June 30, 2009.

There are some incredible benefits available to first time homebuyers. The amount of the tax credit is up to 10% of the qualified home purchase price up to a $7,500 maximum.

Now there are some income limits but they are fairly lenient ($75,000 adjusted gross income for an individual and $150,000 for couples filing jointly.) There’s even a partial credit if you make a tad more than that.

Remember the tax credit is refundable. Which means that the credit will reduce your income tax liability for the year you bought your home. Now here’s the real whammy – the credit can be claimed even if you have little or no federal income tax to pay! Meaning that if the amount of taxes you owe is less than this tax credit you’ll get a check back from the government for the portion or even all of the amount of the tax credit. Now the credit does carry a payback provision - $500 per year via your tax returns. But you don’t have to start repayments until two years after you took your credit.

What happens if you want to sell your home? The remaining credit would be due from the profit of the sale of the home. IF there is insufficient profit from the sale then the remaining credit payback would be forgiven!

I hope this helps explain the Housing and Economic Recovery Act Tax Credit. But you have to act NOW – so please tell every first time homebuyer you know… This is really worth using for someone that’s ready to buy their 1^st home…and it is too good to miss out! It’s a $7,500 tax CREDIT.

Call us if you have any questions or just want to get started on finding your 1^st home here in the Raleigh area! It’s what we love to do…

Raleigh Realtor – Pamela St. Peter

Just the facts PLEASE for the Triangle area real estate market!! Your free Market Snapshot is now available online!!

2008-08-27T10:25:21Z

Have you ever wondered;

What is the supply of unsold homes in my Cary neighborhood?
How fast are homes selling right now in Wake Forest?
How do actual selling prices compare to listing prices in Apex?
How do I get more for the money in a changing market in Raleigh?

We hear these questions repeatedly and thought it was high time to give our clients and customers the information they want in real time. If your serious about wanting to get the real insiders advantage delivered right to your inbox - then we’re your main source for Real Estate information in the Triangle – stay ahead of today's real estate climate with real-time MLS market trend information that speaks directly to your real estate needs.

It’s automatic and includes updates with no intervention from any real estate practitioners
It provides the immediate response you’ve come to expect from the internet
Allows you to see what really is happening in your market area

It’s fast. It’s easy. AND it’s free. Sign up today for your free Market Snapshot for the Triangle in and around the Raleigh NC area.

Happy House Hunting!

Raleigh Realtor – Pamela St. Peter

Tips on selling and living in your home at the same time!

2008-08-15T19:03:36Z

It’s not easy to have your house on display or more commonly known as for sale… Trying to sell your home and live in it at the same time really is an oxymoron. All those model homes to compete with or that neighbor selling who is a neat freak can make you run for cover but hey – there are a few ideas that you could implement to at least help make those last minute showing requests a bit more humanly sufferable.

One of my favorites is buy a big plastic tub for each room. When a prospective buyer is on the way, throw unattractive essentials like toys, toothbrushes, dirty clothes into the tubs, then stow the tubs in the garage or a closet.

No time to really do a thorough cleaning? Hit the Windex to the front door – that front entrance is the most important first impression you have to bestow on your potential buyers - it’ll leave a clean smell and shiny image to the sub consciousness.

Develop an escape plan. Decide in advance where you’ll go when potential buyers are on the way over. It doesn’t have to be far — taking a walk through the neighborhood is probably good enough. But please remember to take your key with you… here in the Raleigh area (and I’ll bet the rest of the US) the showing agent is required to lock all doors after showing. I’ve had more than one seller call because they didn’t take their keys.

One of the most important issues that I see here in the Raleigh market is please be flexible about showing times. Setting severe limitations makes it harder to sell a home. And really you only get a split second window of opportunity sometimes – take it!

And one that I can’t stress enough is please don’t request that the listing associates be there for every showing! Itt makes it very difficult to find a time that works for everyone.

Hope this helps in making a very uncomfortable situation bearable… and when all else fails.. leave a cute note… reminding those buyers that you’re human too.

Raleigh Realtor – Pamela St. Peter

6228 Stadler Drive, Raleigh, NC

2008-08-14T13:28:47Z

Lee & Pamela St. Peter | Prudential Carolinas Realty | 919-645-2522

6228 Stadler Drive, Raleigh, NC

Simply Charming

3BR/2BA Single Family House

offered at $125,900

Year Built	1999
Sq Footage	1,235
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	.26 acres
HOA/Maint	$15 per month

DESCRIPTION

Absolutely charming three bedroom transitional ranch. Large open eat in kitchen with cathedral ceiling and bay window. The family room enjoys a cathedral ceiling and gas log fireplace. The master bedroom also has a cathedral ceiling and a private bath with dual vanity and tub/shower. You will also find a covered front porch and rear deck! Selling as-is.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Living room
Breakfast nook

ADDITIONAL PHOTOS

Seller contact info:

Lee & Pamela St. Peter

Prudential Carolinas Realty

919-645-2522

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 14, 2008, 8:54am PDT

1281-B Schaub Dr, Raleigh, NC

2008-08-14T13:22:31Z

Lee & Pamela St. Peter | Prudential Carolinas Realty | 919-645-2522

1281-B Schaub Dr, Raleigh, NC

Campus Close

3BR/2BA Condo

offered at $79,900

Year Built	1972
Sq Footage	1,212
Bedrooms	3
Bathrooms	2 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	Unspecified
HOA/Maint	$144 per month

DESCRIPTION

Approximately 1 mile from NC State, clean as a whistle and totally ready to move in. This exceptionally well maintained, 3 bedroom 2 bath condo is perfectly located for a state student and roommate or a young grad school family. The interior is freshly painted and most of the flooring is ceramic tile except for the bedrooms and baths. Both the HVAC and water heater are less than 5 years old and the kitchen range was just replaced last year. One look at the interior will be enough to call it HOME. The ground level view of the back yard is wooded and serene and the community offers all recreational amenities including pool, tennis, basketball, badminton in a mature park like setting. All appliances convey. Note – the one time roof assessment has been paid. This property represents some of the most affordable housing in the area.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Walk-in closet
Tile floor	Family room	Dishwasher
Refrigerator	Stove/Oven	Washer
Dryer

COMMUNITY FEATURES

Swimming pool(s)

Tennis court(s)

ADDITIONAL PHOTOS

Seller contact info:

Lee & Pamela St. Peter

Prudential Carolinas Realty

919-645-2522

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 12, 2008, 6:08am PDT

2nd annual REALTORS® Charity Golf Challenge in Raleigh, NC

2008-08-14T12:48:29Z

Homes4nc is a great organization to support and get involved as a Realtor in the Raleigh area.. ,

This year’s 2^nd annual REALTORS^® Charity Challenge is next Monday the 18^th and sounds like fun in the form of a golf event. It’ll be at the historic Raleigh Country Club. You’ll enjoy good food, an outstanding golf course, chances to win prizes and you’ll get a chance to meet Bob Harris, the legendary radio voice of the Duke Blue Devils.

All proceeds will benefit Homes4NC, the housing opportunity foundation of the NC Association of REALTORS^®. In the last 4 years, Homes4NC has provided $140,000 in grants to help low-income families with their housing needs.

So whether your a Raleigh Realtor, a local resident, or buisness owner get your team together and registered online, grab your clubs and support a great cause all while having fun!

Raleigh Realtor – Pamela St. Peter

What's for dinner tonight?

2008-08-13T13:33:49Z

Got to thinking as realtors we're always looking at ways to shorten life things... And after a hectic real estate day one of them for some folks is finding good quick meals... I love to cook and am always on the hunt for a quick nutritious meal.. so thought you might too. So here’s one of my faves!

Szechwan Shrimp

It's easy and ready even before the rice finishes in the micro – grab a store bought bag salad (yeah I love those) and you have a very elegant Wednesday night dinner…

You’ll need;

4 tablespoons ketchup
2 tablespoons water
1 tablespoon teriyaki sauce
2 teaspoons cornstarch
2 teaspoon honey
1/2 teaspoon crushed red pepper (start there and add heat as desired)
Chopped ginger (amount depends on your taste buds – we use a good inch and a ½ piece or more)
1 tablespoon sesame oil (or whichever you have on hand or prefer)
1/4 cup sliced green onions
4 cloves garlic, minced
1# cooked shrimp, tails removed (I use Bj’s frozen ones)

Here's what you do;

Whisk together water, ketchup, soy sauce, cornstarch, honey, crushed red pepper, and ground ginger. Set aside.
Heat oil in a wok or large skillet over medium-high heat. Stir in green onions and garlic; cook 30 seconds. Stir in shrimp, and toss to coat with oil. Stir in sauce and cook till sauce is bubbly and thickened.

Serve over your favorite rice and serve with that salad and voila – your chowing down in ½ hour or less!

Bon appétit

Raleigh Realtor – Pamela St. Peter

Want to know 3 ways to guarantee the sale of your home?

2008-08-10T10:50:34Z

#1 - Price it right...

Every seller obviously wants to get the most money for their home. Ironically, the best way to do this is NOT to overprice just to test the market; especially in todays market. A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. Overpriced properties do two things... they take an unusually long time to sell and they end up being sold at a lower price. If you live in the Raleigh NC area we'll be happy to provide you with a free market analysis.

There's a lot to consider when pricing your home..

The difference between cost and price
What the market value really is in your neighborhood
How the principles of progression and regression apply to your home
Do you leave room for bargaining
What's the absorption rate for your area
And especially what's your competition in the market today

You can also request a free copy of our 29 Essential Tips That get homes Sold.

#2 - Stage it right

Staging is not just a buzz word anymore. This mistake could cost you more money than you think! When attempting to sell your home it has to sparkle! Don't forget to make your home look and smell as pleasant as possible. Get it ready as if you're expecting guests. Remember ambiance lighting and even a bit of inviting background music...

And those repairs you've been putting of doing... do them now. If you want to compete when selling your home has to be sparkling clean.

Make sure everything functions. And don't neglect the front door - it's your potential buyer's first impression. A poorly kept home in need of repairs will only encourage low offers - if any.

#3 - Market and advertise it right!

Everyone is aware that buyers start online these days when searching for their new home. So make sure yours is getting the online presence it needs. That means on multiple sites, with lot of professional looking photos and perhaps even a virtual tour.

Social networking sites are another way your realtor will attract interest in the sale of your home. Employing a wide variety of marketing techniques is not just lip service it's imperative in today's market.

Thanks for reading and good luck on the sale of your home!

Raleigh Realtor - Pamela St. Peter

Always a bridesmaid NEVER the bride

2008-08-09T06:58:48Z

Since we now can reblog thought I would follow up on the never a brides home. We're under contract and going to closing in 2 weeks. We never did get another chance to try our pro-active selling approach but I still think it was a creative idea. We may get a chance to try it in the future though.. we'll see.

Raleigh Realtor - Pamela St. Peter

The following is the reblogged post from Lee & Pamela St. Peter GRI, CRS, ABR- e-PRO :

I did something couple of days ago that I have never done before as a Realtor - actually two things... here's my story.

Lee and I were away for a few days on lovely Siesta Keys in Fl for the holiday this week with very dear friends of ours from Toronto. They have been going there for decades and frequently have invited us down for as long as we can get away. Well as everyone knows it's tough for Realtors to take time off - especially at this time of the year. But we decided it was long overdue for a mini-vacation so we went.

As Murphy's Law would have it - things heated up in our market while we were there and we both were kept busy with a few offers. Now one of the two things I've never done before (as I mentioned at the start of this) is I negotiated the sale of one of our listings while sitting on the beach!! I'd read about how other agents do this and that while on vacation and have to admit sometimes with a ting of jealously... But that was fun!

Now here's the second thing I've never done before... We have a great listing in an area where there are more homes for sale than activity for some reason right now. We've had showings before and to date stay the bridesmaid... So while away I get a feedback from one of the showings that the buyers liked ours and it's one of three they have short listed. Now not wanting to sit and wait around twiddling our thumbs, the seller's and I wondered what could we do to entice these kind buyers to favor us??? When out of the blue Lee suggested why don't you make them an offer???

At first I thought it a tad strange but along with our sellers we put together a list of things that we thought the potential buyers might be interested in and I scripted out how I would present it... and we did. We made the BUYERS an offer! We knew that they had been living in an apartment so felt offering all the appliances might be a help. He is returning from Kuwait so we included the hot tub for him to relax in while enjoying his children playing on the playset. We included a monetary concession as well for them to use as they see fit. The other agent seemed surprised and said that her buyers would be overwhelmed!

Here's the hard part - we haven't heard back from the buyer's agent yet so I don't know if our creative, pro-active idea worked or not but at least we tried. Stay tuned and I'll keep you posted...

Raleigh Realtor - Pamela St. Peter

Buyers beware of what you say...

2008-08-08T17:47:46Z

I just met with a lovely new client moving here from San Antonio yesterday and while doing my usual consulting and discussion on Agency she had an uncertain look on her face. When I queried about it she advised that last year when she was here in Raleigh the agent that she was talking with hadn't even mentioned nor discussed agency with her..

So thought it might be time for a review on why securing your own buyers agent is a very good idea. I'll cover sellers representation in another writing.

Unless you have a buyers agency signed in North Carolina the Real Estate person you are talking with by default has an obligation to report back to the seller any information you may have unwillingly passed along. Remember that goes for those sweet, kind, onsite agents that greet you and make you feel so comfortable in that model home! They REPRESENT the builder.

What that means is that the seller or builder could wind up knowing more about you than perhaps you want them to. You may have indicated your urgency in purchasing a home here, or how you've been looking for a while and this home is just finally just what you want - it's perfect.

If that information where to make its way back to the seller don't you think you would be at a disadvantage when submitting and negotiating an offer? You bet your sweet tea it would.

Now by securing the services of a qualified Realtor© you can be sure that your best interests are taken into consideration. Their complete loyalty or fiduciary as it's called in the agreement is to you. Your agreement instructs them to follow your instructions (lawfully of course) and to provide you with all the pertinent facts known about a particular property or area that you're interested in...

Sometimes buyers feel that they'll get a better deal on their own or by working with more than one agent. YOU WON'T. Plain and simple. Real estate isn't rocket science and yes you could handle all the searching, paperwork, negotiating, etc on your own. But why would you want to? Case in point - I could probably represent myself in a court of law too if I wanted to - but why wouldn't I turn to someone who's education, training, and experience far out ways mine? Just as you know the ups and downs, ins and outs, yellow flags and red ones in your industry your Realtor knows them best in buying and selling a home. And as for working with multiple agents at one time - stop that. Realtor's are professionals paid only when you get what you want - your new home. Would you work for nothing?

So the next time you talk with a real estate salesperson - make sure you're aware of just who's side of the fence they're sitting on. Best to be yours...

If you'd like to read more on agency visit Working With Real Estate Agents or call us - we'd be happy to help...

Raleigh Realtor - Pamela St. Peter

Tips on selecting your movers - start planning early!

2008-08-05T13:14:18Z

1 - Decide before hand which items you will be moving - review all areas in your house such as attics, garages, basements etc. Don't forget to consider items that you might have in storage as well. Also decide if you'll be packing or if you want the movers to pack or a combination of both.

2 - Start shopping around for your movers as soon as you put your home on the market - the sooner the better. Doing so will allow enough time to obtain an onsite written binding estimate from movers. Then remember to arrange for your movers 4-6 weeks prior to your moving date. Movers can be arranged in a shorter time frame however you potentially run the risk of not getting your movers of choice and not getting your written binder... The Raleigh market may be seeing longer DOM but once your house does go under contract closing comes very quickly.

3 -Remember the old saying - you get what you paid for? This goes for movers too! Be sure to ask your Realtor© for reputable movers. The last thing you need is an estimate that was low because they understated the weight of your household items and showed up with too small a truck - or worse yet they low balled your estimate and on moving day want more money! Reputation and service is what you're looking for!

4. Lastly there are two things never to do when looking to hire a moving company; don't shop online and don't pay anything up front! Online quotes aren't binding and a reputable moving company will only ask for payment upon delivery.

Happy Moving day!

Raleigh Realtor - Pamela St. Peter

105 Reno Ave, Garner, NC

2008-08-02T06:15:35Z

Lee & Pamela St. Peter | Prudential Carolinas Realty | 919-645-2522

105 Reno Ave, Garner, NC

No Second Look Needed

4BR/3BA Single Family House

offered at $187,500

Year Built	2005
Sq Footage	2,286
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	.17 acres
HOA/Maint	$20 per month

DESCRIPTION

If you need 4 bedrooms 3 baths and an office, then look no more. This transitional beauty offers a spacious floor plan with touches of distinctive styling. Some of the features include 9 ft ceiling on 1st floor, hardwood in the 2 story foyer and dining room, arched doorways, transom windows, corner gas log fireplace with marble surround, 1st floor office with French doors, 2 inch blinds, security system, side load staircase, cathedral ceiling in master bedroom, his and her walk in closets, dual vanity, garden tub, separate shower and neutral throughout. Convenient access to all amenities and highways.

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	Fireplace
High/Vaulted ceiling	Walk-in closet	Hardwood floor
Family room	Office/Den	Dining room
Breakfast nook	Dishwasher	Stove/Oven
Microwave	Laundry area - inside	Yard

ADDITIONAL PHOTOS

Seller contact info:

Lee & Pamela St. Peter

Prudential Carolinas Realty

919-645-2522

For sale by agent/broker

Equal Opportunity Housing

Posted: Aug 1, 2008, 11:39am PDT

Randy Pausch - thanks for what you shared

2008-08-01T18:39:41Z

I am sure the world weeps when one of its citizens leaves. And last week one outstanding man did just that - he lost his battle with pancreatic cancer.

Randy Pausch was a charismatic young college professor at Carnegie Mellon in Pittsburgh and has became a hero to many for what everyone is calling the "The Last Lecture".

Diane Sawyer from "Good Morning America," said that Pausch's lecture "was one of the most powerful accounts of hope, grace and optimistism".

Lee and I watched ABC the other night as they aired a tribute to Dr. Pausch. Neither of us with a dry eye. The tribute recounted his special life and how he lived it to the fullest with joy and FUN, his beloved family expressed all the joy imaginable about their life together. Testimonials from people all over expressing how he touched their lives.

We get so caught up in the pitter patter of life sometimes that we all need to sit down and listen to someone much wiser than we are...

I hope you'll take the time to listen to Randy and "The Last Lecture"

Raleigh Realtor - Pamela St. Peter

604 Weeping Willow Dr, Durham, NC

2008-07-31T11:00:40Z

Lee & Pamela St. Peter | Prudential Carolinas Realty | 919-645-2522

604 Weeping Willow Dr, Durham, NC

Endless Possibilities

4BR/3BA Single Family House

offered at $179,900

Year Built	2005
Sq Footage	2,982
Bedrooms	4
Bathrooms	3 full, 0 partial
Floors	2
Parking	2 Car garage
Lot Size	.17 acres
HOA/Maint	$20 per month

DESCRIPTION

Endless possibilities with this floor plan - ideal for the growing family. This home appears to be in good condition. There is an eat in kitchen, living/dining room combo, family room and office/study or 5th bedroom on the first floor plus a full bath. There are four bedrooms upstairs, a huge loft, add a 2-car garage and a rear patio and you're good to go!

see additional photos below

PROPERTY FEATURES

Central A/C	Central heat	High/Vaulted ceiling
Walk-in closet	Dining room	Breakfast nook
Balcony, Deck, or Patio	Yard

ADDITIONAL PHOTOS

Seller contact info:

Lee & Pamela St. Peter

Prudential Carolinas Realty

919-645-2522

For sale by agent/broker

Equal Opportunity Housing

Posted: Jul 31, 2008, 6:43am PDT