100 Arlen Park Place, Holly Springs

1st Time Homebuyers- What a Credit Score Really Means

2009-07-24T09:58:00.003-04:00

Ok 1st Time Homebuyers, you have decided you want to buy a home. Do you know what your credit score is? Most people know that they have a credit score, that magic number that lenders rely on to determine whether or not to extend credit, but don’t really understand what a credit score is, what factors influence their credit score, or how their credit score is calculated. Here is a basic primer on what credit scoring is, how it works, and some tips on improving your score. how it works, and some tips on improving your score from . Jeff Harris, Senior Credit Consultant with TowneBank Mortgage.

What Is a Credit Score?

In short, credit scoring is a system many lenders use to determine how likely you are to pay back the money they lend to you. Your credit score is a snapshot of your credit risk at a particular point in time. The higher your credit score, the more likely you are to repay your debts on time, and the more likely you are to receive credit on favorable terms.

How Is a Credit Score Calculated?

The most widely used credit scores are based on the Fair Isaac & Co. (FICO) credit scoring model. FICO develops credit scores based solely on information contained in credit reports; it compares the information contained in a consumer’s credit report to the patterns of information contained in thousands of other credit reports, and calculates a credit score that predicts the level of future credit risk for a particular consumer. While FICO is the most well known type of credit score, it’s not the only one out there – some check approval services also develop risk models and scoring that are based on check writing patterns in order to predict the risk of a particular check being returned. You may also have more than one FICO score as each of the three major credit reporting agencies collect and report information in slightly different ways; since your credit score from each agency only uses the information contained in that agency’s report, it’s possible to have three different scores.

What Factors Influence the Credit Score?

Your credit score takes all factors into consideration; no one piece of information or one factor will determine your score, although some factors are weighted more heavily than others.

-Payment History – Your payment history determines approximately 35% of your total credit score. This factor looks at whether you pay your bills on time, or late. If they’re late, how late are they? How often do you pay late? How recent are your late payments? How many accounts show no late payments? Have you had accounts turned over to collection or a judgment entered against you? Have you filed for Bankruptcy?

-Amount Owed – How much you currently owe determines approximately 30% of your total credit score. This factor looks at the total amount you owe, and on what types of accounts. How many accounts have balances? How much of the total credit line is owed? How much is owed now in relation to how much you borrowed originally (i.e. for auto loans)?

-Length of Credit History – The length of your credit history determines approximately 15% of your total credit score. In general, a longer credit history will increase your score. This factor also looks at how long you’ve had certain credit accounts, and how long it’s been since you used certain accounts.

-New Credit – Approximately 10% of your credit score is based on how many new accounts you’ve established. This factor looks at how many new accounts you have, how long it’s been since you opened them, how many recent requests for credit you have made, and the length of time since credit report inquiries were made by potential lenders. Rate shopping should not affect this factor because the inquiries will be made for a particular type of credit during a short period of time.

Overall Credit Mix – Approximately 10% of your credit score is based on the overall mix of credit cares, installment loans, mortgage loans, etc. The more balanced the mix, the more likely this factor is to improve your overall score.

Improving Your Credit Score

There are several things you can do to improve your credit score, both in the short term and over time.
-Pay your bills on time.
-Pay down your debt.
-Check your credit report and correct any inaccurate items.
-Limit how frequently you apply for new credit and how much you charge on existing credit.
-Don’t close old accounts – this can shorten the length of your reported credit history.

I hope this information will be helpful! Please remember... If you or any of our friends, family, co-workers or neighbors have questions about the Triangle Real Estate Market... I can be reached by email, FillingimL@hpw.com or phone (919) 877-8832.

Warm regards,
Lora

Tips for Staging Your Home

2009-07-07T13:40:00.003-04:00

Did you know that staged homes sell for more and in less time than homes that are not staged?

Decorating Is Not Staging. DECORATING is bringing items into your home to personalize to a taste and/or lifestyle. Condition Is Not Staging. CONDITION is maintaining a home, no amount of staging will overcome overpricing or poor condition.. STAGING is removing and rearranging items to showcase space, features and views of a home.

Did you know that there are 3 basic things that a buyer is purchasing that is unique to each home?

Each home offers it’s own unique views, space that can only be visualized within that home and features only your home may offer. When staging a home to sell a homeowner needs to make sure that a buyer can readily see the space, features and views of each room within seconds upon entry. When a buyer arrives at a home they will take about 15 seconds to determine if they like the home or not. With each room they enter they will determine within 5 seconds if that room meets their needs.

Staging begins at the doorway.

Look as though you are looking through the lens of a camera. What is the feature and/or the view of this room. Make sure nothing is moving into the line of vision reducing the visual size of the room. Buyers only know what they see, not the way it’s going to be.

There are 3 basic Levels of Staging:

1) Using Your Own Things 2) Vignetting Vacant Homes 3) Renting To Stage

Most of the time “Using Your Own Things” is the category that is used. Here are some simple rules of thumb to follow:
1) Clutter eats equity – so… de-clutter!
2) Remove all personal items. The buyers can not mentally move in if they feel you are not
ready to move out.
3) Pack up collections.
4) Remove Rugs – Covering hardwood or tile floors
5) Let the light in…open the shades or blinds, turn on lamp lights, check all lights bulbs and up
wattage in dark hallways.
6) Clean – Detail your home like you detail your car.
7) Eye is drawn to color – use color for the wow factor or to make an area pop in small
amounts – example: throw pillows, walls color in a bath or dining room. Paint is the lowest
cost investment with the highest rate of return. Wallpaper is dated after two years well
worth removing!
8) Most carpets need to be cleaned
9) Limit number of pillows on couch to two & remove blankets & throws
10) Be sensitive to odors
11) Keep music soft
12) If it is BROKEN – FIX IT ! !

For more information about staging or to review before and after photos go to http://www.trianglestagedhomes.com/ . It can mean the difference in $$$ in your pocket and extra time your home may be on the market!

For your personal consultation call Lora at 877-8832!

Why Use a REALTOR® When Buying a Home?

2009-06-29T15:28:00.003-04:00

If you are thinking of making a home purchae you are thinking of making probably the largest purchase so far in your life. That's a big deal! When making large purchases or big decisions most people like to get the best professional help possible.

A real estate agent can help you understand everything you need to know about the home buying process... from looking at homes, to making the offer, to having the inspections and negotiating the repairs all the way to closing. Most buyers, especially first time buyers would like someone is can answer their questions knowledgable and be available during reasonable times.

Transactions today usually average about $250,000. If you had a $250,000 income tax problem, would you attempt to deal with it without the help of a certified professional accountant? If you had a $250,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be wise to work with a professional REALTOR® when you are buying a home.

Not all real estate licensees are the same; only those who are members of the NATIONAL ASSOCIATION OF REALTORS® are properly called REALTORS®. They proudly display the REALTOR " ®" trademark on their business cards and other marketing and sales literature.

REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict Code of Ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate. An independent survey reported that 84% of home buyers would use the same REALTOR® again.

I have a system for my buyers and on-line programs to help you determine what home is right for you. I'd love to be of help... I'm just a call or email away!

And remember... If you or any of our friends, family, co-workers or neighbors have questions about the Triangle Real Estate Market... I can be reached by email, FillingimL@hpw.com or phone (919) 877-8832.

Warm regards,
Lora

Things to do in the Triangle

2009-06-23T17:26:00.002-04:00

Well... it's that time of year to start thinking of things to do indoors as well as outdoors. Our area has a lot to offer. If you are looking for museums or ideas to be more creative... we've got them. If you are looking for a place to check out the latest music... look no futher than our own triangle area. Here are some wonderful places to check for current calender of events. You'll be surprised at just how much we have to chose from... enjoy your summer!

Museums in the Area:
Explores/IMAX Theatre at Explores (919-834-4040) - http://www.exploris.org/
Museum of Life Science (919-220-5429) - http://www.lifeandscience.org/
NC Museum of Art (919-839-6262) - http://www.ncartmuseum.org/
NC Museum of History (919-807-7900) - http://www.ncmuseumofhistory.org/
NC Museum of Natural Science (919-733-7450) - http://www.naturalsciences.org/
Morehead Planetarium (919-549-6863) - http://www.moreheadplanetarium.org/
Art Space (919-821-2787) - Morehead Planetarium
Play Space Children's Museum (919-832-1212) - http://www.play-spacemuseum.com/

Raleigh Theatre, Entertainment and The Arts:
Raleigh Little Theatre (919-832-3111) - http://www.raleighlittletheatre.org/
Carolina Ballet (919-719-0900) - http://www.carolinaballet.com/
Broadway Series South (919-831-6060) - http://www.broadwayseriessouth.com/
The NC Symphony (919-733-2750) - http://www.ncsymphony.org/
Progress Energy Center (919-831-6942) - http://www.progressenergycenter.com/
The Opera Company (919-792-3850) - http://www.operanc.com/
NC State Fair (919-733-7123) - http://www.ncstatefair.org/

Laughs & Comedy:
Goodnight's Comedy Club (919-828-5233) - www.charliegoodnights.com/
Comedy Worx (919-829-0822) - www.comedyworx.com/

Fun... For The Kids:
Adventure Landing (919-872-1688) - www.adventurelanding.com/
Frankie's Fun Park (919-433-7888) - www.frankiesfunpark.com/
Bowling-AMF Pleasant Valley (919-783-0080) - www.amf.com/
Bowling-AMF Capital Lanes (919-832-3747) - www.amf.com/
Bowling-Buffalo Lanes (919-876-5681) - www.buffalolanes.com/
Ice Skating Ice Plex (919-878-9002) - www.iceplex.com/
Ice Skating Ice House (919-453-1500) - www.icehouserinks.com/
Roller Skating Jelly Beans (Cary 467-5283) (Raleigh 562-2326) - www.skatejellybeans.com/
YMCA of the Triangle - hwww.triangleymca.com/
Pump It Up (919-828-3344) - www.pumpitupparty.com/
IMAX Theatre (919.882.IMAX) - http://www.marbleskidsmuseum.org/

And remember... If you or any of our friends, family, co-workers or neighbors have questions about the Triangle Real Estate Market... I can be reached by email, FillingimL@hpw.com or phone (919) 877-8832.

Warm regards,
Lora

Plant a Row for the Hungry

2009-06-09T20:32:00.002-04:00

What if...every household planted one extra plant, or one extra row in their garden?

Did you know ...that 1 in 8 households in our community experiences hunger?

And yet ...1 cell pack of home grown tomatos ($1.59) can yield between 8 -12 dozen tomatoes!

What if... each household decided to take the Pledge and grow a garden for the greater good??

Logan Trading Company invites you to join them in a community-wide initiative to help feed the hungry. Logan's is partnering with the Inter-Faith Food Shuttle and the Garden Writers of America in growing fresh produce that will be donated to families in need and at greatest risk of going hungry.

There will be an official press conference on Friday, June12th at noon where Mayor Charles Meeker will announce the start of this exciting event.

Join them Saturday, June 13th from 10-5:30 for the official kick-off event to include special discounts, an activity for the kids, as well as a talk on growing and harvesting edibles in your own garden. They will also have starter kits available and special discounts for anyone wanting to participate. Take the Gro-Good Pledge:

I pledge to garden for the greater good.

I will plant a little more than I need.

I will eat my homegrown food as often as I can.

I will donate my extra harvest to a local food bank.

Worried about having enough garden space to participate? Don't! Plant or in a container, OR donate a packet of seeds, new, or gently used gardening tools to the community garden piece of the program.

It's not too late to start making a difference. Get your friends and family involved!

Look for more information on Plant a Row for the Hungry and our June 13 kick-off events (including and activity for the kids) in a special email announcement next week!

COME AND LEARN!

Saturday June 13th- 3PMFree class on:

- Growing and maintaining food in the garden

- When to harvest and how to harvest

- What about a second crop?

Join our own plant doctor and garden specialist Chris Henderson

and get all of your questions answered.

Greater Raleigh Events

2009-06-09T15:50:00.002-04:00

There are so many great things to do in our area during the month of June! From Midtown Music Shag Series : The Craig Woolard Band at North Hills to Triangle Brass Band at Sertoma Amphitheatre. If you would like to get the full schedule of events go to http://bit.ly/nAmei . Enjoy the fun and the sun!:)

And remember... If you or any of our friends, family, co-workers or neighbors have questions about the Triangle Real Estate Market... I can be reached by email, FillingimL@hpw.com or phone (919) 877-8832.

Warm regards,
Lora

Changing the color of your appliances

2009-05-26T09:39:00.004-04:00

Do you have kitchen appliances that don't match? Well watch this video or view the 11 steps from taking your refrigerator from one color to the next. Kelly Edwards gives you step by step instructions! If you are getting ready to put your home on the market and want to present a more updated kitchen... which is very important... this could save you $$$.

Decorating with Kelly Edwards: video -

http://home.aol.com/decorating/experts/kelly-edwards/change-the-look-of-your-appliances?

Decorating with Kelly Edwards: step by step photos -

http://home.aol.com/decorating/experts/kelly-edwards/change-the-look-of-your-appliances-step-by-step

I hope you find these helpful as well as saving money for you!

If you or any of our friends, family, co-workers or neighbors have questions about the Triangle Real Estate Market... I can be reached by email, FillingimL@hpw.com or phone (919) 877-8832.

Warm regards,

Lora

CNN Money says Homes Most Affordable in Two Decades - via CNN Money

2009-05-25T10:17:00.004-04:00

U.S. home prices are their most affordable in 18 years, according to a report released Monday.

Nearly 73% of all homes sold in the United States during the first three months of 2009 were considered affordable. That was the highest percentage ever reported by the 18-year-old Housing Opportunity Index, an analysis of markets compiled quarterly by the National Association of Homebuilders and Wells Fargo Bank.

To be deemed affordable, a family making the median national income of $64,000 must be able to buy the property and devote no more than 28% of their income toward housing costs.

To view the entire article from CNN Money go to: http://bit.ly/cq6zm . Let me know what you think. Our area, the Triangle Area is seeming a real pick up in the market. This coupled with the $8000 first time home buyer credit could make 2009 the best year to purchase a home in years!

If you or any of our friends, family, co-workers or neighbors have questions about the Triangle Real Estate Market... I can be reached by email, FillingimL@hpw.com or phone (919) 877-8832.

Warm regards,

Lora

Raleigh's Rankings

2009-05-21T10:41:00.002-04:00

Wow! What a great place to live and work! The exciting news is that Forbes has rated Raleigh as #1 for - Best Places For Business And Careers http://www.forbes.com/2009/03/25/best-cities-careers-bizplaces09-business-places-intro.html !

The second ranking is also exciting news about Raleigh being the #2 place in the USA to purchase a home!
http://www.hulu.com/watch/73633/nbc-today-show-housing-markets-most-likely-to-rebound-fail

These 2 factors plus the $8000 Tax Credit currently offered to 1st time buyers make this the best place and the best time to purchase!

If you or any of our friends, family, co-workers or neighbors have questions about the Triangle Real Estate Market... I can be reached by email, FillingimL@hpw.com or phone (919) 877-8832.

Warm regards,
Lora

Wake Forest housing market

2009-04-21T17:22:00.002-04:00

Up to date info on the Wake Forest housing market...

Subdivisions in progress -

This is an incomplete list but gives you a taste of the residential building underway in town, which had a population of about 5,700 in 1990, over 27,000 now.

Majestic Oaks is a 60-lot subdivision underway on the north side of Rogers Road across from Heritage South. It was built by Willfair, which is David Williams Jr., Steve Faircloth and David Faircloth, who are not relatives. The project abuts the Heritage and the Clearspring subdivisions and was approved in 2006.

Holding Village, Wake Forest’s first Traditional Neighborhood Development, is on hold until the national recession eases. It will have 1,300 homes of all types, a village center with retail stores, a greenway and an amphitheater on the 256 acres that was once part of the 900-acre Holding dairy farm. One of the first steps will be to extend South Franklin Street south of the bypass. It will eventually meet the part of that street built in Heritage. The development, a joint project between the Holding family and East West Partners of Chapel Hill, will be between the N.C. 98 bypass on the north, the CSX rail line and Friendship Chapel Baptist Church on the west, Heritage Wake Forest on the south and an undeveloped tract of the former farm on the east.

Traditions, a mixed-use development approved in May 2008, is also on hold due to the economic conditions. Four Ammons siblings – Heritage developer Andy Ammons, Factory developer Jeff Ammons, Springmoor director David Ammons and their sister – have a plan for about half the land west of the Wake Forest reservoir that includes housing and local employment. They will build a significant portion of the North Loop from the Jones Dairy Road/N.C. 98 bypass intersection north and then west and will rebuild two existing roads, Oak Grove Church and Gillcrest. There will be 632 homes of different types in the southwest corner, a retail and commercial area in the middle of the project, and a continuing care complex in the northwest corner similar to Springmoor.

The Wake Forest Planning Department is reviewing plans for an amenities center in the northwest quadrant of Traditions along with a separate plan for 96 continuing care units and 64 townhouses in that same quadrant.

Bishop’s Grant on Wait Avenue (N.C. 98 east) will have 48 townhouses and 172 single-family homes when built out in 2010.

Austin Creek on N.C. 98 east of town will have 430 single-family homes and 196 townhomes when complete in about 2015. Beazer Homes is the builder.

Bowling Green, which will connect internally to Austin Creek subdivision and have entrances on N.C. 98 and Jones Dairy Road, will have 283 single-family homes and 94 townhouses when it is completed, probably in 2018. The land for the N.C. 98 (Wait Avenue) entrance has been cleared. Homes are being built in Saddle Run, a 34-home subdivision on Chalks Road.

Heritage North will have 387 homes when built out in 2011 or so. It lies along Heritage Lake Road.

Reynolds Mill on Forbes Road and the future Ligon Mill Road has begun construction of the 125 single-family homes planned in the first phase.

Shearon Farms has nearly completed its single-family section and has begun the 372 townhouses and apartments planned for that subdivision along Capital Boulevard just north of the Neuse River and south of Burlington Mills Road.

Heritage South and Wildflower are jointly planned subdivisions south of Rogers Road. Heritage South will have 444 single-family homes. Wildflower, approved in 2004, will have 111 single-family homes and 165 townhouses.

Dansforth on Burlington Mills Road was approved in 2001 for 313 single-family homes, most of which have been completed.

Thornrose, which is connected internally to Dansforth, is on Forestville Road, and almost all its 187 homes have been built.

Stonegate at St. Andrews on Forestville Road was approved in 2004 for 691 single-family and multi-family lots. About 300 single-family homes and 217 multi-family homes remain to be built.

The Registry at Bennett Park will be 31 single-family lots along an extension of West Holding Avenue, bounded on the west by Richland Creek. The master plan was approved in June of 2007. The streets have been built.

The Meadows, a subdivision with 104 single-family homes on 38.58 acres on the west side of North Main Street, was rezoned in June of 2007. The subdivision is being developed by First American, an Apex firm. It will connect to Barnford Mill Road in the Olde Mill Stream subdivision and have an entrance on North Main Street.

Olde Wake Forest, an eight-home infill subdivision bounded by North Wingate, West Juniper, North College and West Pine, was approved by the town board on March 18, 2008.

Olde Chestnut Townes, 33 townhouses on West Chestnut Avenue to be built by Bark Development, was approved by the town board on Feb. 19, 2008.

The Reserve, a cluster subdivision of 37 single-family homes on 74 acres south of Oak Grove Church Road, was approved in September of 2008. The land on the west side of the ridge line leading down to the Wake Forest reservoir will remain undisturbed.

Kings Glen, a 93-home subdivision on 34 acres between Wait Avenue (N.C. 98) and Oak Grove Church Road, was added to the approved subdivisions list in October 2008 when the Wake Forest Town Board approved its annexation and plan. The land is adjacent to Bishop’s Grant.Subdivisions in review

About 100 homes would be built in a new phase of Flaherty Farms subdivision if the plans are approved by the planning and town boards. On Sept. 18, 2007, the town’s Comprehensive Planning Committee agreed Millridge Companies could move forward with the plans, still preliminary, based on the public benefits of the construction of a portion of the North Loop and the infill character. There will be no irrigation tied to the town’s water system.

USDA Rural Development 100% loan

2009-04-21T17:16:00.001-04:00

Good news on the USDA Rural Development 100% loan: the income limits have been raised as of today.. They are divided into 2 groups:
1-4 Persons in Household and 5-8 persons in household...Wake, Johnston and Franklin county 88,400 (1-4) 116,700 (5-8)
Chatham, Durham and Orange: 82,000 (1-4) 108,250 (5-8)

This is really good news for all ...Since in the past...for ex. in Wake County a family of 2 could only make $68,900!!

Did someone say Recession?

2009-03-29T22:39:00.002-04:00

The recession could be a lot worse for people in the Triangle than it is, according to Forbes magazine. In its annual Best Places for Business and Careers rankings, Forbes said no metro area in the U.S. can compare to Raleigh. It was the third year in a row that Raleigh topped the list.
Durham was ranked No. 3 on the Forbes list and Greenville finished second on the list of best small metro areas.

The magazine cited the Triangle's strong job growth – low business costs and highly educated work force. The region's unemployment rate jumped to 7.9 percent in January, losing 12.200 jobs, and IBM laid off several hundred workers in Research Triangle Park on Thursday.

Forbes said the number of jobless will likely continue to grow this year after five years of 4 percent annual job growth. The employment picture is expected to brighten in 2010 and 2011, however, and Moody's Economy.com projects a three-year annual employment gain of 1.4 percent, which would be the 15th-best in the country.

"Raleigh is holding up better than any other place in North Carolina," Matthew Martin, an economist at the Federal Reserve Bank of Richmond, Va., told the magazine.
North Carolina placed six metros among the top 20 on Forbes' list. Asheville finished sixth, Wilmington was 13th, Winston-Salem was 18th and Charlotte was 19th.

What's happen in the Mortgage Lending Arena?

2009-03-24T15:23:00.002-04:00

"IF A WINDOW OF OPPORTUNITY APPEARS, DON'T PULL DOWN THE SHADE." Tom Peters. And last week, the Fed saw their regularly scheduled meeting as a window of opportunity to make a blockbuster announcement.

On Wednesday, the Fed announced that over the course of 2009, they will purchase an additional $750 Billion of Mortgage Backed Securities, as well as $300 Billion in long-term Treasuries, primarily to help shore up the housing market and keep home loan rates low. On the announcement, Bonds exploded higher, leaving Bond prices within whiskers of the best levels ever.

However, it's important to understand that while their actions may keep a lid on rates moving higher, they may not cause them to move dramatically lower... more on this in the Mortgage Market View article below. Additionally, due to many understaffed lenders and investors currently working at maximum capacity, we could once again see that improvements in Bond pricing may not all be passed through to our rate sheets.

Another factor that could impact whether Bonds and rates see significant improvement ahead are concerns of future inflation - the arch enemy of Bonds and home loan rates - brought on by all the recent aggressive moves by the Fed. While we know there is little inflation at the present time, the chatter of future inflation could have a negative impact on Bonds and home loan rates, or at least stifle any improvements.

Although the media is already spinning it differently, this is not a time to stay on the fence, hoping and waiting for lower rates. Home loan rates remain within inches of all-time historic lows, but may not necessarily move significantly lower based on this purchasing plan - waiting is a very risky move.

More good news last week, as Housing Starts for February came in better than expected and actually increased for the first time in eight months. In addition, Fed Chairman Bernanke stated the recession should end in 2009 and that he is confident of the long-term outlook for the US economy.

Also, an update on Mark-to-Market - the accounting rule which has had a devastating impact on the financial markets - which we have discussed many times, including in last week's issue. The Financial Accounting Standards Board (FASB) agreed that it will propose to allow companies to use more "leeway" in applying the accounting rules they use to value their assets, and planned a final vote for April 2nd. If this rule change is approved, it could result in better first-quarter financial statements for companies that have been affected by this rule. Stocks have been moving higher lately in the hopes that Mark-to-Market will be fixed, and a resolution could help Stocks further improve.

WANT TO KNOW MORE ABOUT WHAT THE FED'S ACTIONS REALLY MEAN FOR HOME LOAN RATES, AND WHAT OPPORTUNITIES MAY BE AVAILABLE FOR YOU? CHECK OUT THE MARKET VIEW BELOW FOR THE DETAILS.

Forecast for the Week:

This week will be busy from start to finish, beginning with an opportunity to get a read on the housing market via Monday's Existing Home Sales Report and the New Home Sales Report following on Wednesday. With rates near historic lows and the tax credits available for first-time home buyers - and lots of buyers potentially ready to come off the sidelines - home purchases are likely to be picking up in the coming months.

Also on Wednesday, we will get an update on consumer and business consumption and buying behavior via the Durable Goods Report which shows data on items that are non-disposable, such as cars, furniture, appliances, games, cameras, business equipment, etc. And stay tuned for Thursday's Gross Domestic Product (GDP) Report, which is the broadest measure of economic activity, and Friday's Core Personal Consumption Expenditure (PCE) index, found within the Personal Income report. PCE is the Fed's favorite gauge of inflation, and given all the recent talk of potential inflation ahead, it will be interesting to see what this report shows.

Remember: Weak economic news normally helps Bonds and home loan rates improve, as money flows out of the Stock market and into the Bond market. As you can see in the chart below, Bonds were buoyed last week by the Fed's announcement regarding its Bond purchase program - but again, the improvements are not necessarily all making their way through to the rate sheets.

Did you buya home between 4/9/08 and 1/1/09?

2009-03-17T17:03:00.001-04:00

Congress Enacts Bigger and BetterHome Buyer Tax CreditA tax credit of up to $8,000 is now available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. Unlike the tax credit enacted in 2008, the new credit does not have to be repaid.

Learn how you can take advantage ofthis $8,000 tax credit to buy the home of your dreams.

First-time home buyers who purchased a principal residence on or after April 9, 2008 and before January 1, 2009 may qualify for a $7,500 tax credit. Click here for more information.

5 Reasons Buying a house now is a wise Move

2009-03-02T16:30:00.001-05:00

Five reasons buying a house now is a wise move - MarketWatch
Source: http://www.marketwatch.com/

People are afraid to buy a home in times like these, with the economy tanking and home prices continuing to fall. But if you’re brave enough to stray from the herd, you might be in for the home-buying opportunity of a lifetime.

For the best opportunities in our market... give me a call @ 919-877-8832. I look forward to hearing from you in the near future!

Tax Credit Update

2009-02-20T19:03:00.003-05:00

Tax Credit for Homebuyers

First-time homebuyers who purchase homes from the start of the year until the end of November 2009 may be eligible for the lower of an $8,000 or 10% of the value of the home tax credit. Remember a tax credit is very different than a tax deduction – a tax credit is equivalent to money in your hand, as opposed to a tax deduction which only reduces your taxable income.

The tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000. Buyers will have to repay the credit if they sell their homes within three years.

Tax Credit Versus Tax Deduction

It’s important to remember that the $8,000 tax credit is just that… a tax credit. The benefit of a tax credit is that it’s a dollar-for-dollar tax reduction, rather than a reduction in a tax liability that would only save you $1,000 to $1,500 when all was said and done. So, if a homebuyer were to owe $8,000 in income taxes and would qualify for the $8,000 tax credit, they would owe nothing.

Better still, the tax credit is refundable, which means the homebuyer can receive a check for the credit if he or she has little income tax liability. For example, if a homebuyer is liable for $4,000 in income tax, he can offset that $4,000 with half of the tax credit… and still receive a check for the remaining $4,000!

Phaseout Examples

According to the plan, the tax credit starts phasing out for couples with incomes above $150,000 and single filers with incomes above $75,000.

To break down what this phaseout means to homebuyers who are over those amounts, the National Association of Homebuilders (NAHB) offers the following examples:

Example 1: Assume that a married couple has a modified adjusted gross income of $160,000. The applicable phaseout to qualify for the tax credit is $150,000, and the couple is $10,000 over this amount. Dividing $10,000 by $20,000 yields 0.5. When you subtract 0.5 from 1.0, the result is 0.5. To determine the amount of the partial first-time homebuyer tax credit that is available to this couple, multiply $8,000 by 0.5. The result is $4,000.

Example 2: Assume that an individual homebuyer has a modified adjusted gross income of $88,000. The buyer’s income exceeds $75,000 by $13,000. Dividing $13,000 by $20,000 yields 0.65. When you subtract 0.65 from 1.0, the result is 0.35. Multiplying $8,000 by 0.35 shows that the buyer is eligible for a partial tax credit of $2,800.

Remember, these are general examples. You should always consult your tax advisor for information relating to your specific circumstances.

Homes that Qualify

The tax credit is applicable to any home that will be used as a principle residence. Based on that guideline, qualifying homes include single-family detached homes, as well as attached homes such as townhouses and condominiums. In addition, manufactured or homes and houseboats used for principle residence also qualify.

Higher Loan Amounts

More good news – there is an extension on the additional tier of conforming loan amounts which had been first established in 2008. This tier of home loans are those greater than $417,000, and with a maximum that depends on the area, but is not greater than $729,750. These loans will again be eligible for rates that are slightly higher than conforming loan rates, but less expensive than the standard “jumbo” loan rates.

Additional Housing-Related Provisions

Tax Incentives to Spur Energy Savings and Green Jobs — This provision is designed to help promote energy-efficient investments in homes by extending and expanding tax credits through 2010 for purchases such as new furnaces, energy-efficient windows and doors, or insulation.

Landmark Energy Savings — This provision provides $5 Billion for energy efficient improvements for more than one million modest-income homes through weatherization. According to some estimates, this can help modest-income families save an average of $350 a year on heating and air conditioning bills.

Repairing Public Housing and Making Key Energy Efficiency Retrofits To HUD-Assisted Housing—This provision provides a total of $6.3 Billion for increasing energy efficiency in federally supported housing programs.Specifically, it establishes a new program to upgrade HUD-sponsored low-income housing (for elderly, disabled, and Section 8) to increase energy efficiency, including new insulation, windows, and frames.

Expanding Housing Assistance—This provision increases support for several critical housing programs. It includes $2 Billion for the Neighborhood Stabilization Program to help communities purchase and rehabilitate foreclosed, vacant properties.

More Help for Homeowners in the Future

Another thing to keep an eye on in the coming weeks is President Obama’s plan to help struggling borrowers before they are faced with a default on their mortgage.

According to reports, the Obama administration is discussing plans to help borrowers who are struggling to stay afloat, but who have not yet fallen behind on their payments. At this point, details are scarce; however, reports indicate that President Obama is looking to spend approximately $50 Billion to directly help homeowners before they face foreclosure and financial disaster.

While this is good news for individual homeowners, it will likely be good for the housing industry as a whole. That’s because, assisting struggling borrowers before they default should help stop the wave of foreclosures, which are estimated to top two million this year. That, in turn, will help stabilize home prices.

The Economic Stimulus Plan is huge, and impacts a number of industries. I’ve highlighted some of the major provisions that may impact you now and in the future. As always, if you have any questions or would like to discuss how this may specifically impact you, I would be happy to sit down with you. Just call or email us to set up an appointment!

$7500 Federal Tax Credit For 1st Time Buyers

2009-02-19T22:21:00.002-05:00

Federal Housing Tax Credit for First-Time Home Buyers: Frequently Asked Questions
Source: www.federalhousingtaxcredit.com

Answers to questions about the $7,500 federal tax credit for first-time home buyers. Learn more about the Housing and Economic Recovery Act of 2008.

The American Recovery and Reinvestment Act of 2009 authorizes a tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009.The following questions and answers provide basic information about the tax credit. If you have more specific questions, we strongly encourage you to consult a qualified tax advisor or legal professional about your unique situation.

For a complete summary of how this can benefit you click on the link and read the details. Call me at 919-877-8832 for more information or to help you with your first home purchase!

December Events

2008-11-18T17:14:00.001-05:00

HERE IS WHAT’S HAPPENING IN OUR AREA!

Santa's Trolley - December 6th, 13th, 20th - 6:00 PM
Mordecai Historic Park, 1 Mimosa Street, Raleigh, 27604
Join Santa on the Raleigh Trolley as he searches for one of his missing elves. Riders will enjoy a tour of Raleigh beginning at Mordecai Historic Park with Santa as their guide.
For more information call 857-4364.

Christmas In Wake Forest: 1909-2009 – December 6th From 2 to 8 PM
Presented by the Wake Forest Historic Preservation Commission & The Wake Forest Woman’s Club
Historic Downtown Wake Forest
Tickets $12 in advance; $15 day of the tour
As a prelude to Wake Forest’s Centennial Year, you can visit historic homes and other buildings beautifully decorated for the holidays. Only once every two years does this opportunity come along.

Holiday Express – December 10th – 14th at 4:00 PM
Pullen Amusements, 520 Ashe Avenue 27606
Celebrate the Season with this family event. Pullen Park is turned into a Winter Wonderland with holiday lights, a lighted train ride, entertainment, concessions, antique carousel rides, a visit with Santa and more! Contact 831-6468 for more information.

Holiday Dance With Casablanca Orchestra – December 9th at 7:00 PM
Sertoma Arts Center, 1400 W. Millbrook Road, Raleigh 27612
Come dance the night away or just tap your toes to the sounds of the season presented by the Triangle area's finest big band! No registration required. Call 420-2329 for more information.

Mordecai Holidays Lantern Tour – December 13th at 5:00 PM
1 Mimosa Street, Raleigh 27604
On this late night tour of the Mordecai House and grounds, visitors will get a glimpse of what life was like during Christmas in the Civil War. Re-enactments by the Burning Coal Theatre.
For more information contact 857-4364.

Today's Triangle Real Estate Market

2008-11-04T12:36:00.005-05:00

Why purchase a home now??? Here are a few great reasons:

Interest rates remain at a historically low levels.
Inventory in our market is at a higher abundance giving consumers exceptional home choices
Home sales have slowed, giving buyers the additional advantage of being in a "buyers" market
Sales prices today are more favorable to buyers than they were earlier this year
Home buyers who will remain in their homes for several years will nearly always come out ahead in building wealth
Buy low and sell high... need I say more!

In spite of the evident challenges and high media visibility of some metropolitan real estate markets in the U.S., the Triangle market remains a terrific place to buy a home.

• Sales Activity: We are currently on pace for 20,000 home sales in the triangle in 2008.
• Dabblers Are Leaving the Business: The Realtor market in the Triangle has been crowded for years with agents working part time, poorly trained (if at all), and underfunded to service clients in anything but a red-hot conditions. What remains today are a core group of career-minded professionals
• The Nation Looks At The Triangle: When reading trade reports on national sales trends, most highlight over-appreciated prices in Las Vegas, Miami, and everybody’s-leaving-Cleveland and Detroit. These markets have experienced frightening free-falls in sales and home values. However, many of these reports conclude with a reference to two markets outperforming the national trends: Raleigh-Durham (us) and Charlotte, N.C. Our local market has not experienced a downward free-fall; it has cooled from red-hot status to a warmth that allows long-term, sustainable growth. Such a pattern is very GOOD for the long-term market .
• Good Habits: The Triangle market no longer provides a market in which a yard sign will close the deal. In most cases it takes the services of a strong agent backed by the resources of a healthy company to assist sellers. These services include preparing and staging the property for maximum effect, reviewing financials to minimize surprises, a well-executed marketing plan with a concentration on Internet positioning, and constant evaluation of market conditions to determine the best offer price.

Explore Cary, Chapel Hill, Durham, Raleigh and Wake Forest with community films

2008-10-15T22:50:00.003-04:00

Why drive around the Triangle area to learn more about the area when you can find out what the area has to offer from the comfort of your home or office?

We created the community films on HPW.com to help our local homebuyer as well as those relocating to the area get a better sense of what each area has to offer. Follow this link to the “Living in the Area” section. I have included a brief description of each community film. I hope you enjoy them and will share your thoughts on living in the area.

Current Community Film Descriptions

Cary, NC is consistently ranked among the best small cities and it's no surprise why. With its family-friendly atmosphere, tree-lined streets and fast-growing business environment, Cary is a bubbling metropolis of activity. You can spend your Saturday at dog park or an arts and leisure festival, then stop off at the amphitheatre to catch an evening symphony performance under the stars. Just a few of the reasons why there's no place like Cary!

Chapel Hill, NC is a unique city that offers the friendliness of a small town, with an inviting University setting at its core. Here you'll find a sense of place and community, rich in history and traditions. Among its assets are a lively downtown and wonderful neighborhoods. There is always something to do in Chapel Hill, whether you're after music and theater or sports and games. for education, research, and industry. This vibrant city is great for long-time residents and newcomers alike!

Durham, NC is the proud home to Duke University, North Carolina Central University, Research Triangle Park and the legendary Durham Bulls Baseball Club, to name a few. The city's prime location in the heart of North Carolina is a perfect setting for education, research, and industry. This vibrant city is great for long-time residents and newcomers alike!

Raleigh, NC offers the perfect combination of big city fun and Carolina charm. Whether you want to enjoy the bustling night life, cheer on the Stanley Cup-winning Carolina Hurricanes or visit one of Raleigh's beautiful parks or gardens, you can get a taste of all the culture Raleigh has to offer. And with its proximity to the coast and the mountains the city offers an abundance of vacation and recreation options.

Nestled in northern Wake County, Wake Forest is a progressive town of active residents, dynamic businesses, and vibrant shops and restaurants. Rich in history and heritage, downtown Wake Forest is an officially registered historic district. With character all its own, Wake Forest continues to emerge as an influential part of the Triangle while retaining its small town charm.

Hopefully you have been enjoying this blog and the information provide here. I welcome your comments. If you are looking to buy or sell a home http://www.relocationtoraleigh.com/ is the place to search all of the mls listings. I have all of the homes for sale in Raleigh, Cary, Durham, Chapel Hill and the Triangle all in one place... the home for Raleigh Real Estate!

2008-10-01T14:11:00.002-04:00

Time to Aerate and over seed your lawn.

Fall is here and it is time to regenerate your lawn. The hot summer, drought conditions and insects have damaged and thinned out parts of your lawn. Not to worry a few steps will have it looking great again.

The first thing you need to do is mow the lawn a little shorter than you normally would. Typically Tall Fescue should be about 3.5 – 4 inches. When reseeding and aerating you would mow the lawn to 2.5 inches. This will help with seed germination and composting of the grass clippings. Some suggest that you gradually lower the lawn height over a few weeks as to not stress the lawn.

Next you will need to aerate your lawn. What is aeration you ask? It is the process of poking hundreds of holes in your lawn and removing a core of earth. What this does is open up the soil and help to break up the compacted top layers. The small cores allow a nice home for the seed to germinate and form a root structure. It also allows water and nutrients to penetrate deeper into the soil. You can rent a core aerator at your local tool rental or home improvement store or simply contact a landscaper in the area to do it for you. You will get the best results if you aerate when the soil is wet. This will allow for better penetration of the tines.

Top dressing the soil is an option here. The more you do the better the results. Top dressing is the process of spreading a thin layer of organic material on top of the soil. Peat Moss is a great option for top dressing your lawn. It will hold moisture and help the grass seed to germinate. Top dress the lawn after aeration and before seeding for best results. You can also follow the seed with a quality starter fertilizer.

2008-09-22T11:38:00.003-04:00

Lawn Care

A properly feed lawn will be stronger and more likely to survive through the hot summer months in North Carolina. A great looking lawn will help your home stand out from other homes in the neighborhood. Your home is in competition with other homes in the real estate market. Regardless of the market conditions you want you home to show better than other homes. You want your home sell faster than other homes. Ask any real estate professional and they will tell you that curb appeal matters. Thinking about lawn care starts before you decide to sell your home. A lawn that is properly maintained is a lot easier to care for than a lawn that has suffered years of neglect.

Lets talk about the feeding your lawn. Fertilizer is a combination of Nitrogen , Phosphorus and Potassium. Nitrogen will take care of the intensity of the green color. Phosphorus helps to build a strong root system and Potassium help with the overall vitality of the grass. So how do you read a bag of fertilizer?

In the spring when you want a quick green up and accelerated growth you would use a fertilizer with a high nitrogen to potassium ratio (2:1 or higher). In the fall or winter you would use a more balanced approach and use a fertilizer that has an equal nitrogen to potassium ratio (1:1). It is also important to have your soil tested to determine what nutrients you need and how much of them you should use.Please take a look at the following links. The first is for the North Carolina State University Cooperative Extension Turffiles site. They have a great Fall Fescue Lawn Maintenance Calendar.

What will Raleigh look like in 2030?

2008-08-01T11:31:00.003-04:00

According the an article in the News and Observer, Raleigh is expected to grow by more than 70% by the year 2030. Raleigh has been experiencing consistent growth of 2% per year and officials expect that rate to continue. Raleigh leaders have created a plan to manage the growth with transportation, monitoring pollution, and increasing parks and recreation.

Raleigh has put together a committee to map out a comprehensive growth plan for Raleigh, and hopes to be completed by early 2009. A draft of the plan is scheduled to be released for public review and criticism in October of this year.

You can follow the progress of the 2030 plan on the website: http://www.planningraleigh2030.com/

What Gardening Tasks Should You Take Care of in August and September?

2008-07-31T11:57:00.002-04:00

What should you do to keep your garden looking beautiful in the months of August and September? Remember that better maintained and better landscaped homes sell better!

August
- Apply a pre-emergent herbicide to ward off bluegrass, chickweed, henbit and other winter weeds in the lawn.
- Check for aphids, flea beetles, spider mites, thrips and white flies.
- Keep strawberry plants mulched and add a light side-dressing of fertilizer.
- Plant colchicum, fall-flowering crocus, sternbergias and other autumn bulbs. Also add helianthus, helenium, heliopsis and rudbeckia to the flower border.
- Mulch and water holly, pyracantha, nandina and other fall-fruiting ornamentals.

September
- Plant fescue and Kentucky bluegrass. Diversify your selection with a mix of Kentucky 31, red fescue or one of the new turf-type fescues. Spread a light covering of straw over the newly seeded area and water thoroughly at least once a week.
- Fertilize established cool-season lawns of bluegrass and fescue with one pound of nitrogen per thousand square feet. Fertilize Bermuda, St. Augustine and zoysia lawns with 1/2 pound of nitrogen per thousand square feet.
- Plant perennials. The winter will allow the plants to develop strong root systems.
- Divide perennial herbs such as mint, parsley, chives and lemon balm.
- Buy spring-flowering bulbs and store them in the refrigerator.
- Start a backyard strawberry patch for a spring crop. Plant blueberries.
- Add color to the fall flower garden with calendula, dusty miller, ornamental kale, flowering cabbage, pansy and stock.
- Bring in houseplants before night temperatures dip into the 40s. Repot if necessary. Prune and check for insects.
- If needed, apply Thiodan or Tanglefoot to the trunk and lower limbs to attack peach tree borers.

Source: Triangle.com Gardening in the Triangle

Home not selling? Consider Staging!

2008-07-30T12:36:00.016-04:00

Is your home sitting too long on the market? In these tough times, there are steps you can take to make your home a great house to show.

1) Rid your home of clutter.
Organize, organize, organize! Put toys and other items into plastic containers. Open spaces show better because they allow potential buyers to envision themselves in your home

Before

After

2) Fix any Small Problems Yourself or Hire Someone
Make sure door handles are not loose, and all lights work. Anything you can fix yourself, do. Remember that buyers are looking at your home with a very critical eye. It is important that it shows the best it can; this translates into profit for you later!

3) Hire a Service to do a Through Cleaning
It is worth the cost to have someone go through and do a through cleaning of your home. They can get to all the nooks and crannies that dust has collected in over the years. Make sure all fixtures are clean and shiny. Clean your windows, after all they help buyers see the "soul" of your home!

4) Paint if necessary
Light rooms show better because they look more spacious and open. You may love that deep burgundy in your bedroom, but a potential buyer might not. Consider painting a white or off-white.

5) Evaluate your Home's Curb Appeal to Potential Buyers.
The exterior sets the stage for your home, sometimes buyers will pass on a home that could have been perfect on the inside because the outside is a mess! Make sure you mow the lawn and trim back all overgrowth. A little cleaning goes a long way!

I can help you stage your home with these tips and more! I'm a professional home stager and I'd be happy to help you sell your home!

http://www.stagedhomes.com/featured/featured_old.php?asp=21837