Move-In Ready Rochelle Plan**  FULLY LOADED!  Brier Creek condo w/ 2 car garage, 3bed, 3bath, Bonus & formals on beautiful hardwoods, master suite, 20×19 storage, granite counters, gas stove, microwave, refrigerator, 42 inch cherry cabinets, community pool, views, walk to shopping, movies & dinner what more could you want?  Come and see today, move-in ready!  1 Year HOA dues included!  $262,900

Brought to you by Audrey Johnston with REMAX One Realty 919-781-9883.

A “foreclosed home” doesn’t always mean the house is in disrepair.  In order to entice more owner occupant buyers, banks are spending money to spruce up foreclosed homes.  This is a benefit for everyone…the neighborhood, the potential buyer AND the banks.  This helps foreclosed homes sell faster and allows traditional home buyers to secure a loan, when otherwise they would have trouble getting a loan for a house being uninhabitable because of the repairs it needs.  Not so good news for traditional home sellers as this creates more competition.

Owner occupant’s can also benefit from Fannie Mae’s “first look” program.  Fannie Mae will only consider offers from owner-occupants or buyers like nonprofits during the first 15 days a home is on the market.  Fantastic way for owner occupants to get a great deal without all their money going to repairs!!

Source…”Banks Spruce up Foreclosures to Boost Sales”,  by Mary Ellen Podmolik, RISMedia Online

Chicago Tribune, Distributed by McClatchy-Tribune Information Services

Clients always ask me what the best way to get the most money out of their renovation dollars.  I saw an article today in Realtor.com magazine that I thought would be very helpful to pass along to my clients.  It talks about the cost vs. value on your remodeling dollars.  The top 5 projects on a “mid range” budget in the Raleigh, NC area that recoup the most money at the time of  resale are as follows,   Entry Door Replacement (steel)…cost recouped 135.5%, Garage Door Replacement…cost recouped 91.6%, Basement Remodel…cost recouped 79.4%, Wood Deck Addition…cost recouped 77.3%, and Vinyl Window Replacement, cost recouped 77.3%.

Source “Cost vs. Value: Help Clients Stretch Their Remodeling Dollars” by G. M Filisko, REALTOR Magazine Jan 2011

“Remodeling-Cost vs. Value Report 2010-2011″, Hanley Wood Remodeling Magazine

Buying your first home is very exciting, but can be tiring and confusing in today’s real estate market.   Here are my top 3 recommendations on how to get started…

1)  Educate yourself! There are numerous online resources available to you, utilize them.  A REALTOR will help educate you on the market and process but it is nice to actually know what they are talking about.

2)  Hire a Buyer’s Agent! The listing agent represents the seller’s best interest; a Buyer’s agent will represent YOUR best interest.  In the Raleigh, NC market, the seller pays the Buyer’s Agent commission so representation is FREE to you!  It is best to hire an agent that you trust.  A referral from a friend or family member is a good place to start.

3)  Talk to a Mortgage Lender! It is very important to find out how much you can afford.  This is based on your savings, credit, salary and your debt.  Ask the mortgage lender about first time home buyer programs or grants.  There are several loan programs available that are little to no money down.

Happy house hunting!

According to Atlas Van lines’ annual Migration Patterns study, there was an increase in the number of households that moved on 2010 .   Raleigh, NC is one of three cities projected to have some of the strongest household growth rates in 2011!   This is great news for our local economy AND home sellers!  With a current market inventory supply of 10-11 months, this is very promising for home sellers in Raleigh, NC for 2011!!

Source: “People Are Moving Again,” CoStar Group (Jan. 12, 2011)