Triangle Area Real Estate Talk

North Carolina Yearly Gardening Calendar

Rick Abdella — Sat, 08 Jan 2011 22:51:17 +0000

A new year has begun and for gardener, it is the start of a new year of tasks in your yard and garden. In the Raleigh area of North Carolina, there are things you can do every month of the year in your garden. January is the ‘off season’ for gardening but there are still things you can do. (By the way, do you know a good way to tell a true gardener from a non-gardener? Just tell them you found a great new source of free manure – if they make a face and say ‘GROSS’ they are not a true gardener. If they get excited and say ‘WHERE?” then you know they are a true gardener). A good site that use...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Home Staging Basics – It Pays to Stage

Rick Abdella — Sat, 27 Nov 2010 16:39:49 +0000

This may sound somewhat cruel but once your home is on the market it no longer is your home. It is the future home of someone else. So it can’t be viewed as your home by potential buyers – it has be viewed as the home for the buyer that is going to bring you an offer. Because of this, Home Staging is important to depersonalize your home and make it attractive to the largest audience possible. Home staging is about creating the best impression possible. Staging is what you do after you’ve cleaned, decluttered, painted, made minor repairs; it’s all about dressing the...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Weekly Mortgage Rates and First Time Home Buyer’s Tax Credit:week of 11-22-2010

Rick Abdella — Fri, 26 Nov 2010 19:48:06 +0000

The following information is provided by Kevin Martini, Senior Mortgage Banker. Today is the biggest shopping day of the year: Black Friday, the super sale day following Thanksgiving. This event marks the start of the annual Holiday spending season. Retailers are loaded with inventory and real incentive to keep prices down; consumers are singing the carols that retailers love to hear. The economy is beginning to swell from the bottom up. This is true with Real Estate too! ‘Tis The Season To Be Jolly if your Client is considering to Buy a new home…like the retailers, I have the inventory in...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Home Showing Report for North Raleigh Zipcode 27614

Rick Abdella — Tue, 23 Nov 2010 22:11:50 +0000

Here is the current showing report for Zipcode 27614 in North Raleigh. Since September 14 through November 22, there have been 1714 showings on homes priced between $195,000 and $445,000. This is how the numbers compare to previous years: Total Showings for the Period September 14 through November 22 in Zip 27614 for homes priced between $195,000 and $445,000: 2010 – 1714 2009 – 1917 2008 – 1552 2007 – 1782 2006 – 2617 2005 – 1025 It is pretty clear that while the numbers are off significantly from the peak year of 2006, showings in this area of North...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

New Listing in North Raleigh: Falls River

Rick Abdella — Mon, 22 Nov 2010 15:03:37 +0000

This newly listed home located in Falls River just hit the market this weekend. Falls River Subdivision is located in the heart of North Raleigh and is highly accessible to all major shopping and amenities. Priced well below tax value, this 4 bedroom home offers is the perfect size for today’s buyers. But best of all, this home has a large backyard that backs to HOA and Neuse River Greenway natural areas. The community center has two pools, water slide, tennis courts, play ground, covered patios, and many other features. Membership is optional and requires additional dues. Here is a list of...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

100% Financing For Home Buyers Still Exists

Rick Abdella — Fri, 12 Nov 2010 13:24:24 +0000

This is from Kevin Martini, Senior Mortgage Banker with Primary Residential Mortgage, Inc 100% financing is back and is an amazing product for the right buyer with the right place to call home. The USDA Rural Housing Program affords 100% financing. As you know they have made a few changes and kept some of the old that has made it a great product – like the fact it provides 100% financing! The most obvious change has been that the guarantee fee for purchase transactions is now 3.5% (this is an increase from the 2%) – now the guarantee fee is built into the loan, so it is not a cash expense...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

In Honor of Those That Served

Rick Abdella — Thu, 11 Nov 2010 16:39:32 +0000

I’m proud to be a veteran, but I stand very humbled by those that have given the ultimate sacrifice in the service of this great country. Every Veterans Day I feel sad that we tend not to think about those that gave their lives or limbs in the name of our freedom except for maybe this one day out of the year. They sacrificed the rest of their lives for us – we owe it to them to appreciate that sacrifice everyday. I feel sad that the veterans of Vietnam were never given the respect and appreciation that they deserve for the tremendous sacrifices that our nation’s leaders asked them...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Real Estate Agents Are More Important Than Ever

Rick Abdella — Thu, 11 Nov 2010 14:46:28 +0000

Conventional wisdom says that home buyers and sellers are not relying on real estate agents as much anymore. In the age of the Internet and cable TV networks like HGTV, there is enough information out there for the average person to know everything they need to know to buy and/or sell. But the statistics do not support this. The latest survey by the NAR shows that the number of buyers and sellers using real estate agents or brokers is actually increasing. In 2010, 83 percent of buyers used a real estate agent, up steadily from 69 percent in 2001 (Exhibit 4-1). At the same time, 88 percent of...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Selling Your Home During the Holidays May Be a Good Option

Rick Abdella — Thu, 11 Nov 2010 00:17:13 +0000

A lot of people think that it is a bad idea to try to sell your home over the holidays but there are many reasons why it could be a good time to put your home on the market. Here are some of the top reasons it could be the right choice for you. 1. Buyers who look for homes during the holidays are more serious buyers! People tend to not want to waste a lot of time over the holiday season, so if they are going to dedicate time to look for a new home, chances are they will be much more serious than the causal summertime buyer. 2. Buyers have fewer homes to choose from during the holidays which...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Current Home Mortgage Interest Rates for the Raleigh Area

Rick Abdella — Sat, 06 Nov 2010 13:35:12 +0000

Here is just a brief snap shot of where mortgage rates are for this weekend. These rates are as of Friday, 5th November 2010 and are subject to change due to market fluctuation and borrowers eligibility. To get more accurate rates that are specific to you and your situation, contact Kevin Martini at www.KevinMartini.com for a free consultation. 30 year fixed Starting right around 4% — for the very well qualified, looking for a super fast closing — it might even start with be in the 3%’s 15 year fixed In the mid 3% range 5 year hybrid In the mid to upper 2% range 30 year FHA...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

I-540 (Outer Loop) Southern Route Update

Rick Abdella — Thu, 04 Nov 2010 19:38:47 +0000

The North Carolina Turnpike Authority just released the latest proposal for the southern section. The potential routes has decreased from 9 to 5 with most of the southern routes under consideration having been eliminated. Here is the latest map just released (please be aware that this is a very large file that may take a while to load) November 2010 updated Corridor Overview Map There is definitely a lot of history and information available about the I-540 Outer Loop being constructed around Raleigh. But it seems more confusion and misinformation than anything. A couple reasons for this are:...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

What effect will the Foreclosure Freeze have on house prices in the Triangle?

Rick Abdella — Mon, 11 Oct 2010 19:06:15 +0000

With the news that financial institutions such as Bank of America are expanding their foreclosure freeze from 23 states to all 50 states, the uncertainty about the housing market is sure to continue. It’s difficult to predict all the effects it will have on the economy and the housing market but it is pretty clear that some of the effects will be be positive and others will be negative. Just how this latest news will affect buyers, sellers, and owners of real estate is a mixed bag. Short Term For buyers this most likely will mean a slightly smaller foreclosure inventory to chose from,...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Downtown Raleigh Upscale Condo Auction: Starting bids at $95,000

Rick Abdella — Fri, 08 Oct 2010 20:00:20 +0000

If you happen to be in the market for an upscale condo in the heart of Downtown Raleigh either as a home buyer or investor, this is a tremendous opportunity. There are 36 Condominiums up for auction at West in downtown. West is centrally located to everything the city has to offer: Glenwood South, the Warehouse district, and the renovated city center are within walking distance. Restaurants, coffee shops, clubs, art galleries, parks, hair salons, and so much more are nearby or right around the corner, all part of the urban vitality and fabric that are yours to experience every day. It has a...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Market Report: Clayton, NC – September 2010

Rick Abdella — Fri, 08 Oct 2010 18:36:50 +0000

Here is the Clayton, NC Real Estate Market report for September 2010 – brought to you by the Triangle Area Real Estate Talk. Clayton includes the zip codes 27520, 27527 and is located in Johnston County North Carolina, just south of Wake County which includes Raleigh and Cary. Many people live in Clayton but work in Wake County. Clayton has excellent schools, affordable home prices, low taxes, and is a popular destination for people relocating to the Triangle Area of North Carolina. Search All Clayton NC Homes for Sale Popular Clayton Home Searches: Search All Homes For Sale in 27520 Search...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

5 Tips to Selling Your Home in a Down Market

Rick Abdella — Wed, 06 Oct 2010 02:34:10 +0000

There is no doubt that the real estate market in the Triangle is a buyer’s market just like the rest of the country. But the good news is that homes are still selling! In Wake County alone, almost 800 homes sold in September. With a current listing inventory of almost 9000 homes in Wake County, this means that approximately 9% of the homes for sale actually sold last month. With these odds, you have to be on top of your game to sell a home right now. Here are some must-do tips to make sure you are giving yourself the best possible opportunity to get your home sold. 1. Price, Condition,...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

How good of an investment is your primary residence?

Rick Abdella — Tue, 05 Oct 2010 20:26:05 +0000

The short answer is that it’s a poor one. My personal opinion is that a person’s primary single family residence that they live in full time is never primarily or solely a financial investment. Its primary purpose is shelter and from this point forward I will refer to it as that – shelter. In fact, whether you rent or buy, the money that it costs you to live in that shelter is a liability, not an asset. If your sole purpose in acquiring shelter is to get wealthy off of that shelter, then consider this: The odds are extremely slim (state lottery type odds) that it will ever happen...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Raleigh, Cary, Apex, Wake Forest, Garner, Holly Springs, Fuquay Varina, and Wake County Home Sales Statistics: September 2010

Rick Abdella — Tue, 05 Oct 2010 13:27:25 +0000

Here is the Raleigh, Cary, Apex, Wake Forest, Garner, Holly Springs, Fuquay Varina, and overall Wake County home sales statistics as reported in the Triangle MLS system for September 2010 – brought to you by the Triangle Area Real Estate Talk. Popular Wake County Home Searches: North Raleigh Homes For Sale Central Raleigh Homes For Sale South and East Raleigh Homes For Sale Cary Homes For Sale Apex Homes For Sale Wake Forest Homes For Sale Garner Homes For Sale Holly Springs Homes For Sale Fuquay Varina Homes For Sale The following data is based on detached single family home re-sale (new...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

FHA Loan Program Changes for October 2010

Rick Abdella — Mon, 04 Oct 2010 23:12:27 +0000

The Federal Housing Administration made some changes today to the FHA loan program. The two aspects of the FHA loan that are changing are the Up Front Mortgage Insurance Premium (UFMIP) and the Mortgage Insurance Premium (MIP) that is charged to borrowers on a monthly basis. The UFMIP is actually going to be reduced from 2.25% to 1%. This fee is taken and put into an escrow account at the US Treasury and is distributed to HUD on a monthly basis in case the borrower defaults on their loan. The MIP is raised from.55% of the loan amount per year to.85% of the loan amount per year. So what does...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Market Report: Apex, NC for August 2010

Rick Abdella — Thu, 30 Sep 2010 18:29:31 +0000

Here is the Apex North Carolina Real Estate Market report for August 2010 – brought to you by the Triangle Area Real Estate Talk. Apex includes the zip codes 27502, 27523, and 27539 Search All Apex Homes for Sale Popular Apex, North Carolina Home Searches: Apex zipcode 27502 Apex zipcode 27523 Apex zipcode 27539 Apex Foreclosures Apex Short Sales Near Golf Course in Apex Water View in Apex Apex Basement Homes The following data is based residential home sale information from the Triangle MLS (”TMLS”), for August 2010. TMLS does not guarantee or is in any way responsible for its accuracy. ...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Things to do in the Triangle for October 2010

Rick Abdella — Wed, 29 Sep 2010 00:48:12 +0000

What’s happening in and around the Triangle area in October? Feel free to add other items you know about. 2010 Wake County Parade of Homes Starts on October 2-3, and continues on the weekends of 8-10, and 15-17. Homes are open daily 12 noon to 5 p.m. For more information please see 2010 Wake County Parade of Homes 25th International Festival of Raleigh October 1-3 International Festival of Raleigh Historic Oak View Park Heritage Day October 2 4028 Carya Drive, Raleigh 10 am – 4 pm Information about the Park Information about the Event NC State Fair Oct 14-24 www.ncstatefair.org...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Top Selling Wake County Subdivisions for August 2010

Rick Abdella — Tue, 28 Sep 2010 01:36:58 +0000

Here are some of the top selling subdivisions in Wake County based on information reported in the Triangle MLS system for August 2010 – brought to you by the Triangle Area Real Estate Talk. Popular Wake County Home Searches: Homes For Sale in Preston Homes For Sale in Wakefield Homes For Sale in Holly Glen Homes For Sale in Bedford Homes For Sale in Sunset Ridge Homes For Sale in Falls River Homes For Sale in Hedingham Homes For Sale in Brentwood Homes For Sale in Heritage Wake Forest The following data is based on single family home sale information from the Triangle MLS (” TMLS ”), for...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Billy McLaughlin & Rhett Butler Coming to Cary Oct. 18!

Rick Abdella — Mon, 27 Sep 2010 19:03:20 +0000

What do you do when your world is turned topsy-turvy? If you’re guitarist Billy McLaughlin, you respond by literally turning your career topsy-turvy. World-renowned acoustic guitarists McLaughlin and Rhett Butler will share their inspiring stories and amazing music at Hope Community Church Auditorium in Raleigh on Monday, October 18, 2010. After delighting audiences for more than 20 years, in 2001, McLaughlin was diagnosed with focal dystonia, an incurable neuromuscular disease affecting his right hand, wrist, and forearm that rendered him unable to play his own music. By the following...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Market Report: North Raleigh August 2010

Rick Abdella — Sun, 26 Sep 2010 00:34:45 +0000

Here is the North Raleigh Real Estate Market report for August 2010 – brought to you by the Triangle Area Real Estate Talk. North Raleigh includes the zip codes 27612, 27613, 27614, 27615, and 27617

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]

Selling a Short Sale in the Raleigh/Cary Market

Rick Abdella — Fri, 24 Sep 2010 14:20:49 +0000

At this moment in time, there are only 559 homes listed in the MLS as short sales in the Triangle real estate market. With 18,511 total listings, that means only 3% of all homes listed for sale in the Triangle area are short sales (meaning the owner is attempting to sell their home for less than they owe on their loan(s) — they are “under water” on their mortgage). While this is good news compared to most other major metropolitan areas in the US, a short sale is always bad news for the seller. But there are ways to deal with or even sometimes avoid a short sale. ...

[[This is a content summary only. Please visit my blog or click on the post title for full contents]]