iRaleighRealEstate Blog

Here’s some good news!  Sales of existing homes in North Carolina stabilized in December after a dramatic drop in November, according to figures released Tuesday.

Statewide, 5,100 homes sold last month, which was a 3 percent increase over the 4,959 that sold the preceding month, according to the North Carolina Association of Realtors. November’s sales were down 22 percent from October.

Still, existing home sales remain relatively weak, the group reported. Last month’s sales were down 38 percent from December 2007, but the median sales price was off by only 8 percent, from $217,727 to $201,255.

In the Triangle, sales remained soft. Last month, 1,089 existing homes sold, down 8 percent from November and 47 percent from December 2007. The median sales price was flat from a year ago, at $236,888.

The number of people searching the website Realtor.com increased significantly.  18.2% more people searched the website in December of 2008 when compared with December of 2007.  On the Triangle’s premiere home search site, www.HomeSearchRALEIGH.com, online traffic is up by 20% in most days in January 2009 when compared with December 2008.

When you’re ready for your home search to begin, register for our Personal Home Shopper Service – Custom Search and have homes delivered to your email box.  As always, you can visit www.FreemanDavisHomeTeam.com for more information and for the latest listings.

December 2008 Year-Over-2007 Year Searches on Realtor.com

“Beauty is in the eye of the beholder” is never more true than when purchasing a home.

No one needs to remind sellers that today’s market is a challenging one. In fact, there are on average more than 11 months of inventory on the market at any given time.

So it is vitally important that you make sure all of your listings stand out above the others that are competing for the buyer’s attention.

Here are some very basic pointers you can print out and share with home sellers to help get them headed in the right direction:

1. De-Clutter: This one is simple. De-clutter everywhere; inside and outside. If it’s taking up space it is a potential candidate to be thrown out. The sellers need to make that all important mental conversion from “home to live in” to “house for sale.” Personal things are a big distraction as you want the buyers to be able to visualize their own belonging in the house.

2. Repair : Buyers want everything working so don’t disappoint them – dripping faucets, broken windows, leaking roofs, damaged walls and doors, etc, beg the question in the buyer’s mind…What else is broken or doesn’t work?

3. Lots of Light: The last thing home buyers want to see is a dark home with all of the doors and windows covered. Let the light in and open some windows to let in some fresh air. Room deodorizers leave the impression of covering something up as does a window that has the blinds drawn.

4. Clean Windows: Buyers want to know and see the view they will have from every room – don’t make them look through dirty windows. If they do, the impression of a having great view is literally going “out the window.”

5. Kitchen and Bathrooms: Two of the most important rooms in the house.They must be spotless and first class.Just cleaning up isn’t going to be good enough – you need to “deep clean” all counters, floors, cabinets and all the fixtures in the bathrooms. In the bathrooms consider new fixtures or countertops and perhaps redoing the shower and tub enclosures. If new fixtures are not in the budget you may want to consider having them refinished. Think about having all the tile steam cleaned and make sure all grout is free from grease and dirt.

6. Odors: Absolute deal killers are cigarette or pet odors. If this is a problem – have the drapes, carpets and furniture professionally cleaned and please…”no smoking” in the house. Also, cooking odors are not a good thing. The best bet is to always for plan fresh air. Often a little lemon oil mixed with water in a spray bottle used lightly used will add just a bit of freshness without overpowering the house.

7. Paint: A fresh coat of paint on the outside or inside is an excellent way of freshening up your home. Be sure to use neutral colors and avoid accent painting. Don’t try and guess what a potential buyer will like. In most cases they should use a professional painter because it’s always a bigger job than most people think.

8. Yard Work: Deal with overgrown bushes, shrubs and trees. Everything in the yard needs to be trimmed, watered, manicured and “living.” Remove everything lying around the yard including sports equipment, boats, trailers, toys, etc. You may also add some color by placing some annuals in planters in the back as well as in the front. Curb appeal makes that all important “first impression.”

9. Furniture: The bottom line… less is best. If it’s old, worn or dated, you should put it in storage. Remember that you are setting a stage and the actor needs to be the house – not their furniture.

10. Hardwood Floors: Hardwood floors can be a huge plus for buyers unless they look like a 20 year old basketball court. It may be a great investment to have them all refinished – but keep in mind that it’s not a simple weekend project. 

Changing “lived in homes” into “houses for sale” is what it’s all about.   That’s why the Freeman/Davis Team offers complete home staging services free to all of our listing clients.  Call us today at 919-649-6638 or visit www.iRaleighRealEstate.com and www.HomeSearchRALEIGH.com.  Also, visit our new site, www.FreemanDavisHomeTeam.com.

If you think that mortgage rates are low, just wait until you hear how much more you can save (and afford) with the new Rural Development loans available through USDA.

USDA Rural Development loans are designed to open the door to homeownership in rural areas. This loan is designed for low to moderate income families. The Freeman/Davis team of lenders originates these loans and they are guaranteed by the USDA. As of January 10, 2009 the income limit for a family of 2-4 is $86,100 and for a family of 5-8 it is $106,750. This loan requires “0” money down and there is no monthly private mortgage insurance. Rates are very attractive (5-5.5%) and the seller can pay up to 6% of the closing costs for the loan.

Currently you can obtain this USDA Rural Development loan on properties located in Clayton, Wendell, Knightdale, parts of Wake Forest, Fuquay Varina, Youngsville and other surrounding areas.

To look for your new home in a USDA Rural Development area, contact the Freeman/Davis Home Team at www.HomeSearchRALEIGH.com, www.FreemanDavisHomeTeam.com or simply call us at 919-649-6638.  We’ll prescreen your selections, assist you with financing and most of all, help YOU make Good Decisions.

Beef…It’s what’s for dinner and these mortgage programs from USDA will have you in a new home AND eating steak!