Raleigh Real Estate

Raleigh Realtors Homeowner Tip: Home Improvements That Pay Off

Raleigh Realtors talk to homeowners all the time about which home improvements to focus on for the "biggest bang for your buck."  You'll want to choose home improvements that not only pay off in recovery of the money you spend, but also help you get a better price for your home when and if you sell it.

1. Kitchen Renovations.  New flooring, cabinets, countertops and appliances can be costly, but buyers typically look for updated kitchens.  You are likely to recover a large percentage of your kitchen renovation expenses on resale.  If your basic kitchen plan is good, you may not need a major remodeling.  Even a minor face-lift - painting, new floorcovering, new cabinet doors and hardware, for example - will pay off in a faster sale at a better price.

       TIP:  Best bets: light neutral colors, plenty of cabinet and counter space, new lighting fixtures, new energy-efficient appliances.

 

2. Bathroom Addition.  Another bath is not only a convenience, it may sharply enhance the sale possibilities of your home.  Two and three bathrooms are standard fare in many neighborhoods.  Upgrading an existing bathroom is likely to pay off in both value and marketability, especially in an older home.

     TIP: Opt for good lighting, large mirrors, easily cleaned materials, plenty of storage space, neutral color.  Consider location and accessibility of an addition.

3. Room Addition.  Adding a new room is likely to pay off if the addition puts your home in the same class as others in yor neighborhood.  Family rooms, sun rooms and master bedroom suites are hot items now - and the extra space may be just what your family needs.

     TIP: Choose materials and style to blend with the existing home; consider traffic flow, accessibility to other rooms.

4. Deck or Pato Addition.  Decks make a home a home homier - as a gathering place to extend family life outdoors - for Saturday barbeques, Sunday brunches, mid-day respites.  Best paybacks: decks or patios off living areas (kitchen, family room, dining room), decks with a view or overlooking your own well-kept garden.

     TIP: Build deck of redwood, cedar or pressure-treated wood; design deck or patio to harmonize with the architecture of the home; consider a low-level deck for children's safety.

5. Energy Efficiency Improvement.  The major savings of improved energy efficiency will be in your fuel bills, but your energy-saving home will also likely pay off when you sell.  If existing windows are drafty or unsightly, consider replacing with insultated windows for heating/cooling efficiency and resale value.

     TIP: Minor energy upgrades are real winners: caulking and weatherstripping around doors and windows, attic insultation, set-back thermostat, ceiling fans for air circulation, good maintenane of heating/cooling system, a whole-house electrical surge-suppressor to maintain appliance efficiency and protect electronic equipment.  Many are do-it-yourself projects, which - if done correctly - bring the best payback.

If you would like to find out what your home is worth, contact us.

Raleigh Real Estate: Why Spring is the Ultimate Time to Sell

Spring into Action
There's a lot of money at stake when you are selling your house.  Your level of motivation will ultimately determine your success or failure at selling your house this spring.  For sellers who just want to sell and want a specific price for their house, then they'll probably sit in inventory longer than a seller who needs to sell.   Sellers needing to sell could be to avoid a foreclosure and/or might be in a short sale situation, or have a job transfer.  There are many reasons to sell your home.

Raleigh Real Estate Supply vs. Demand
When the inventory of unsold homes increases, buyers can take their pick.  This is why pricing a home correctly becomes critical.  The inventory of short sales and foreclosures have flooded the market, taking sales away from re-sales.
At the end of March 2010, the new homes inventory has decreased while the resales have increased.  Since there are no economic reasons for the increasing amount of resale listings, sellers might be trying to sell to avoid a foreclosure or just testing the market.

Pricing it right
Some sellers undervalue their house to get it to sell fast, while some sellers overprice.  Predicting what a house will ultimately sell for down to the penny is like looking into a crystal ball and basically guessing.  Unfortunately the real estate market isn't as predictable as the stock market, however, there is enough data of surrounding home sales to determine an acceptable range in home value. 
"Burton G. Malkiel, an economist, professor at Princeton University, and the author of A Random Walk Down Wall Street, dispelled the myth that individuals are able to predict the future based on historical trends.  Unfortunately, when prices decline, sellers often place too much emphasis on how much their home was worth before the market slowed down.  Psychologically, sellers have a tough time coming to the realization that their home is worth less, and they cling to the hope of finding a buyer - even if the home is priced out of the market."

Ultimately, it's the buyer who sets the value, not the real estate agent or the appraiser.  Forget about what your home was worth in the past, you need to focus on what the market will pay for the home today.

Downside to selling in the springtime is competition.  This is when your neighbors also are putting their house on the market. 
Ask yourself these questions: 
Are you competing against new construction?  If so, is your house up-to-date to compete with these homes?
How many houses are you directly competing against? 
How many houses are under contract? 
How many have sold in the past 3 months?  Of the sold houses, what was their list to sell ratio? 
This information will be invaluable when you are selecting your list price.

The biggest tip for correctly pricing your house against the competition is to act like a buyer and go check them out.  Have your agent take you inside as if you were a buyer and preview the houses that other buyers are also seeing.  Walk through open houses.  Take notes and compare the features they offer with your home.  With this information, you should be able to determine the fair price for your home.

Pros to Spring Selling

If the market is affected seasonally, then price can be affected.  Historical data shows spring is the best time to sell in order to get the best price.

After being stuck inside all winter, people just want to get out and take a look at houses. They've been thinking all winter on moving and now they are ready to see what's on the market.

Your neighborhood looks good with the flowers blooming and green grass.  Trees are blooming and everything starts to wake up. 

If you have been thinking of selling, let one of our agents explain our current real estate market and work with you to determine a fair selling price.  With our experience and local knowledge, we'll take the guesswork out of pricing.

Clayton NC Homes for Sale in Pool Communities

Are you looking for Clayton NC Homes for Sale in a Pool Community?  We have compiled a list of subdivisions that offer residents a community pool.  There are serveral different price points from the low $100's into the $400s.

Living in a pool community appeals to many people since you get the opportunity to meet your neighbors to socialize and enjoy cooling off without the maintenance of your own pool.

LionsGate, Tralee, and Riverwood are Fred Smith communities that also include gyms. 

Flowers Plantation has several sections such as East Lake, Walker Woods, North Farm, and Mill Creek West.  This planned area has walking trails, shopping, and an athletic center.

To find the best neighborhood for you, let one of our buyers agents assist you.  Contact a HomeTowne Realty Buyer Consultant.

Access Fayetteville NC Homes for Sale through Hometowne Realty

HomeTowne Realty has recently acquired access to the Fayetteville North Carolina Real Estate Market.  If you are looking for a home around the Fayetteville area, click our Homes for Sale button. 

To better assist you, we have realtors who specialize in that Fayetteville real estate market.  Let us know what you are looking for and we'll see what we can find for you.

Clayton NC Luxury Homes for Sale

Clayton NC offers homeowners good quality luxury homes with excellent schools.

Raleigh Real Estate #2 on Healthiest Housing Markets for 2010

The 20 Healthiest Housing Markets for 2010
Which housing markets are the best bets to recover first? We present our annual list of the 20 healthiest housing markets in the country.
By: Boyce Thompson
 
Housing economists have long held that the housing rebound, when it comes, will be uneven. The markets that benefit first will be the ones with the strongest core dynamics; places where house prices never got out of hand, cities where a diverse and progressive employment base drives job creation, towns that continue to draw population despite the economic recession.

Now that the housing recovery is nearly upon us--most economists expect a full-fledged recovery to begin this year--it's time to figure out which markets will be the front-runners. Based on last year's performance, especially the level of building permits pulled in the fourth quarter, it's already clear that some markets are poised to grow at a faster pace this year than others in 2010.

Green shoots may be sprouting in markets throughout the country, but which markets will flower first? That's the question we attempt to answer with the Builder Market Health Index, compiled by Hanley Wood Market Intelligence, our market research arm. Market Intelligence (MI) first input 2009 data and 2010 projections for household formations, resale values, and job and income growth. Then, after sprinkling in some secret sauce to weight these drivers, it ranked by health the top 100 housing markets (determined by permits pulled in 2009).

Not surprisingly, many of the markets that topped our 2009 list are on the 2010 leader board, including most of the major markets in Texas, where low development costs kept a lid on house prices during the boom, and strong local economies provided a cushion from the blow of a national recession.

But Lone Star markets were eclipsed this time around by some relatively hot markets in the Carolinas, which accounted for seven of the top 20 spots. Many of the major cities along the Mid-Atlantic seaboard continue to benefit from a strong influx of people drawn by a comfortable way of life, affordable housing, and growing employment prospects.

As with last year, markets that hit the trifecta--having within their borders a state capital and a big university along with a diversified economy--dominate our list of hottest markets. A strong base of government employment, whether it be from the state or the military, has helped stabilize some markets through the housing recession. In many cases, the government is the biggest employer among the 20 markets on our list.

We present this data with one big caveat. These markets may be healthier than others, but they aren't healthy in the way they were during the housing boom, when it was common to find rising population, employment, and income. Virtually every housing market still has at least one blemish. And for that reason only two received a rating of 50 or more, indicating they are truly healthy. That's an improvement, though; only one scored 50 or higher last year.

Hanley Wood Market Intelligence, which took into consideration forecasts from Moody's Economy.com and other sources, is looking for several of these healthiest markets to break out this year. A few of them witnessed dramatic increases in building permits pulled in the fourth quarter of last year, momentum that is expected to carry over into 2010. Several of the markets on this list are poised for double-digit growth.

Search for homes for sale in Raleigh and Durham North Carolina

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Flowers Plantation Taft Woods West Clayton NC Luxury Real Estate

Taft Woods West is a section of the Flowers Plantation in Clayton NC.  Luxury Homes for sale.

Clayton NC Houses Shrink, But Some 'Must Haves' Remain

Houses are getting smaller, according to data released last week by the National Association of Home Builders.

The association said that the average size of a new home in 2009 was 2,480 square feet, down from 2,520 square feet in 2008.

"The era of easy money is over. You really have to think before you go out and decide you need that five-bedroom, five-bath home," said Rose Quint, the organization's assistant vice president for survey research.

Despite smaller home sizes and tightening credits, there are still some features that are expected in new houses. Builders say the following are most likely to be standard in homes built in 2010:

• Walk-in closets in the master bedroom.
• Laundry rooms.
• Insulated front doors.
• Great rooms.
• Energy-efficient windows.
• Linen closets.
• Programmable thermostats.
• Energy-efficient appliances and lighting.
• Separate shower and tub in master bathrooms.
• Nine-foot ceilings on the first floor.

Source: MarketWatch, Steve Kerch (10/22/2009)

HomeTowne Realty Launches Builder/Developer Services Division and Procures LionsGate Community

HomeTowne Realty has launched a Builder/Developer Services (BDS)/New Homes Division and has struck a deal with the Fred Smith Company to market the LionsGate Community. Cassondra Liles of HomeTowne Realty will head the division and states that, "this is an exciting time for our company. With this new division we can offer a much stronger marketing presence to our current builders and are better positioned to support those with whom we have not yet developed a relationship. With this new partnership with the Fred Smith Company we feel we have the credibility to approach other builders in our community to propose our marketing plan to them."

"Cassondra is a seasoned real estate professional that concentrates her services on the Clayton/Garner area. As a top producer in our community and a certified e-Pro Realtor she is dedicated to providing high-tech/ high touch professional service to our clients" according to Pandora Pearson, Broker-In-Charge/Partner, HomeTowne Realty Garner.
LionsGate is a planned urban development in the heart of Clayton offering many onsite amenities including a fitness center, pool with a beach entry area and spray ground for children, a waterslide and lazy river. Likewise, there is an onsite child development center and future plans for a shopping area. All yard maintenance is taken care of by the home owners association and is part of the monthly dues. Homes range from the $150's to the $250's with many ranch and first floor master plans. Onsite office hours are 10 am - 6 pm on Saturdays and 1 pm - 6pm on Sundays.

Barry Woodard, co- founder and co-owner of HomeTowne Realty comments that, "" We look forward to this unique opportunity to represent LionsGate. It is such a diverse, yet custom, community. Our staff and Agents are up to the challenge of making this a rewarding experience for both HomeTowne Realty and Fred Smith Company."

$6500 Exisiting Home Owner Tax Credit

With the enactment of the new Tax Credit for existing homeowners, buyers want to understand how they can take advantage of the credit.

We had Daniel Nunes of Suntrust Mortgage provide us with specific details for our clients. 

You can go to our page Move Up / Repeat Home Buyer Tax Credit for specific details.

If you wish to take advantage of this tax credit, the market is starting to pick up so contact us to get started.