Hannah Jung's Real Estate Blog | Cary, NC-Raleigh, NC | Relocation

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Hannah Jung
REALTOR®, Broker, e-PRO, QSC

    National Association of Realtors Certified e-PRO
    Quality Service Certified

Direct: (919) 740-0006



Company Info

Coldwell Banker Advantage
6020 Creedmoor Road
Raleigh, NC 27612


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Raleigh-Facts by Brookings Inst.

Wednesday, May 12th, 2010

Energy Savers: North Carolina Appliance Rebates

Thursday, May 6th, 2010

Energy Savers: North Carolina Appliance Rebates.

NeighborWoods

Thursday, May 6th, 2010

City of Raleigh is giving away free trees to city residents who will plant and take care of it for 2 years.  This project called the “NeighborWoods” started in 2003 and so far over 5,500 trees have been planted.  This program is funded by donations.  You can make donations to this program by calling 996-4868 or by pledging on your utility bill.  YOu can also dedicate an Honor Tree.

Find out more on how you can get a free tree by visiting the city’s website.

540 Project map of south Raleigh

Wednesday, March 31st, 2010

http://www.ncdot.org/_includes/download/external.html?pdf=http%3A//www.ncdot.gov/projects/i540/download/southeastwake_map.pdf

Please click on above link to see a projection of 540 of south Raleigh.  Note the dotted boundaries for the ‘study area’.  I am not certain as to what it means to be in a study area but its something to watch out for when you are looking at purchasing properties.

On that note, what comes to my mind is the west corridor of 540 which is under construction right now.  When one of the subdivision filed a class action law suit with their developer as the construction of 540 began, I thought no one could possibly file a suit for something they should have known to be coming.  However, the law suit as I learned was not for the fact there was going to be 540 right near them but what the home owners thought to be a ‘natural  buffer’ of 100 ft is now cut down to 20 or so feet to accommodate high voltage wires going along side of 540.   I went out there to see this in person and there it was, quite ugly, I must say and felt bad for the people.  (so, was this what they meant of the ‘study area’?)  Well, I don’t know.  I guess people who draws the line may know but I certainly don’t know what it means.  However, I would feel its something to keep in mind and be informed of if I come across a property that is within the area.

Profile Video

Wednesday, March 24th, 2010
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Progress Energy Carolinas to launch Appliance Recycling Program

Wednesday, March 24th, 2010

Progress Energy Carolinas to launch Appliance Recycling Program.

Short Sale Articles

Saturday, December 5th, 2009

This is a follow up post to my short sale posting.  As you can see, I’ve originally posted this in Nov but it’s nowhere to be found…  I looked, looked and looked and I don’t know what happened to it so, after head scraching I re-posted what was in my word processor as below but the article that I posted along with is gone too.  So, until I find the actual article that I used, here is a similar article from USA Today:

http://www.usatoday.com/money/economy/housing/2009-08-04-short-sales-mortgages_N.htm

Pictures, Virtual Tours, Videos, HouseTalk Audio, and more?

Friday, December 4th, 2009

nikon-d5000So, I have just purchased a brand new, expensive (to me anyway) camera for my business of Real Estate picture taking.  It’s a new Nikon D5000.  Sounds pretty impressive, I thought, just saying the name of it and it turns out that it really is the one cool~ equipment.  I knew from sometime ago that my old, now completely dead, Olympus digital from almost 10yrs ago had to go in order for me to take “better” pictures for my listings.  And “pictures for listings” was my bare minimum of what it should enable me to do, if I ever got a new camera.  Well, when my Olympus gave out in the process of getting my new listing up and running, I had no choice but to go out and get something, and quick.  I have acquired more listings during Nov than during one month in particular and I had a lot of pictures takings to do.  Ok, so I went online, to Bestbuy, to hhgregg, Amazon, and Costco to look for these features of a camera:

*must have wide angle lens so I can fit a room in a picture rather than just a bed and/or a toilet.. (I am not in the business of selling a bed nor a toilet but selling homes…^^)

*must have video taking feature with a good sound quality

*must be EASY to use!!! (I love machines and any machines for that matter but I just don’t have time to study an equipment right now)

*must take SD card so I can bring with me and not camera to plug into my laptop

*must let me control lighting of the actual picture as well as be able to control flashing

Now, not knowing much or at all about any type of advanced camera and/or picture taking techniques, I didn’t even know if these features are something that was offered in my price range.  Well, go figure, it didn’t.  My price range was up to $200??? and I actually ended up spending almost $1K on it! >O< 

Biting the bullet certainly applies here, because despite having to spend so much more than what I have anticipated in the beginning, this is WELL worth it!  I have tried pictures and, oh my, it take a full room in to the frame!!!  yay!!  Finally I am not selling a bed and I am selling a room, a house!  I also already tried video taking, it’s wonderful!  It even edits pictures if its crooked, not level, dark, light, sun, shade etc, etc… 

So, with this new found love of mine, I shall take not only pictures, I will take GOOD pictures, I will take Videos to upload my listings to websites, and YOUTUBE, I will take Virtual Tours to burn to CD’s, and more.

Yes, I have made an investment with this one piece of equipment for my business and it is a very important one that I certainly am glad I made!

Pending Home Sales Continue to Rise

Tuesday, November 10th, 2009
Daily Real Estate News  |  November 2, 2009  |   Share

Pending home sales rose again, marking eight consecutive monthly gains – the longest streak since measurement began in 2001, according to the National Association of REALTORS®.

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in September, rose 6.1 percent to 110.1 from a reading of 103.8 in August, and is 21.2 percent higher than September 2008 when it stood at 90.9.

The gain from a year ago is the largest annual increase on record, and the index is at the highest level since December 2006 when it was 112.8.

Lawrence Yun, NAR chief economist, said the momentum is understandable.
“What we’re witnessing is a rush of first-time buyers trying to beat the expiration of the tax credit at the end of this month,” he said. “Home values will stabilize sooner rather than over-correcting. That, in turn, will mean wealth stabilization for the vast number of middle-class families and lay the foundation for a durable economic recovery.”

Watch a video interview of Yun as he talks about these latest pending-home sales trends.

NAR estimates approximately 3 million renters are now financially well-qualified to buy a median-priced home. “As long as buyers do not overstretch and stay well within their budget, a sizable pent-up demand can be tapped among financially qualified potential buyers,” Yun said. “Although the tax credit is greatly reviving the existing home market, new-home sales may continue to struggle as home builders hold back production to drive down inventory. In addition, there remains an ongoing credit crunch for construction loans.”

The Pending Home Sales Index in the Northeast slipped 2.0 percent to 83.6 in September but remains 16.9 percent above September 2008. In the Midwest the index rose 8.1 percent to 98.2 in September and is 17.8 percent higher than a year ago. In the South, pending home sales increased 4.9 percent to an index of 109.7 and is 22.8 percent above September 2008. In the West the index jumped 10.2 percent to 143.8 and is 23.7 percent above a year ago.

Yun added that strong near-term reports should not be overstated. “We’re clearly not out of the woods because an excess of homes remains on the market despite recent improvements,” he said. “Although current inventory is getting closer to price equilibrium, foreclosures will continue to enter the pipeline. An extended and expanded tax credit would help absorb this incoming inventory.”

NAR

FAQ: Appraisal

Monday, October 12th, 2009

Q.  Should I get an Appraisal for a property if I am paying cash for the purchase?

A.  Of course!  Please do not neglect to do this very important process of purchase transaction.

When a mortgage is being obtained for a purchase of a property, the lending institution will hire their own appraiser at your expense to evaluate fair market value of the property and this will be a required process of a loan.  However, if you are paying cash, and since there will be no one requiring for you to get an appraisal, you can easily overlook this very important step. 

NC Real Estate Offer to Purchase Agreement has a section where a cash purchase buyer can indicate and make it a part of the contract that the property’s value appraised has to come back at least the selling price.  I have seen more than a few cases of where the buyers are paying cash for their purchase and have paid more than a possible appraisal value of the home.  Of course, anything that has a price will have the value of such price if and as long as someone is willing to pay that price regardless of objective and professional evaluation of a market value.  However, if your intention is to pay a fair price, objectively calculated based on hard data, do recommendation of a reputable appraiser and get it appraised!

Market Recap

  • Avg. Sales Price: 379,000

  • Avg. Days on Market: 69

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