iRaleighRealEstate Blog

While many people seem to think that it is not wise to think of your home as an investment, the reality is that your home is an investment. This being said there are some things to keep in mind when setting out to buy a home, the least of which is getting to know the neighborhood you wish to buy in. If you do your research and your homework selecting your home properly can insure more of a return for you when you decide to sell at some point in the future.

Research the Raleigh, Cary & Wake Forest neighborhoods that you want to live in. Aside from knowing the schools and amenities that are available, take a close look at the property levels. Which streets hold more value? Is one edge of the neighborhood closer to a more upscale neighborhood, is one side close to a less desirable neighborhood? According to Realty Times, less is more. They say purchasing the least in the best neighborhood will give you the greatest return as every time a better house sells your value goes up as well.

While you may not look at your primary residence as an investment, in the long run it may be the best investment you have, so do your research and you will be happier in the long run.

As Raleigh real estate brokers, we’re seeing more homes for sale and more buyers ready to purchase.  It isn’t often someone offers to give you money to by a home. But that’s exactly what the government is willing to do until the end of April — if you qualify.  The Freeman/Davis Team at Allen Tate Realtors is here to guide you through the process.  Visit us at www.HomeSearchRALEIGH.com and contact us right away.

Qualified first-time home buyers and repeat buyers to receive a credit when they sign a home purchase contract by April 30, 2010 and close/settle on the home by June 30, 2010.

First-time home buyers are defined as those who have not owned a principal residence for the three years prior to the closing/settlement date. The credit is worth up to $8,000 (or up to $4,000 each for married filing separately), but cannot exceed 10% of the home’s purchase price.

Longtime homeowners who purchase a replacement principal residence may qualify to receive up to a $6,500 credit (or $3,250 each if married filing separately), capped at 10% of the home’s purchase price. You must have owned and lived in your current home for any consecutive five-year period in the previous eight years. It is not required that you sell your current home — only that you use the newly purchased home as your main residence.

Here are the rules that apply to both first-time buyers and repeat buyers:

• A full tax credit is available for married-joint filers (or equivalent status) with Modified Adjusted Gross Income (MAGI) up to $225,000, phased out up to $245,000; for single filers and married filing separately, the income limit is $125,000, phased out up to $145,000.
• The purchase price of the home cannot exceed $800,000.
• The tax credit does not have to be repaid providing you live in the home as your principal residence for at least the first 36 months of ownership.
• You must be at least 18 years old to claim the tax credit.
• The credit can be claimed on either your 2009 or 2010 tax return. (Depending on where you live, state or local programs may be available to help you “monetize” the credit so you can use it early to help cover your down payment and closing costs.)
• Qualified members of the U.S. armed forces, intelligence community and foreign service who were on overseas deployment for 90 days or more in 2008 or 2009 have until April 30, 2011 to purchase a principal residence and claim the tax credit.

To find out whether you would qualify for one of these great tax credits, contact us right away! Don’t delay, though, your signed purchase contract must be complete by April 30, 2010.

When your home is on the market, you know how important it is to hold on to the right buyer. But, before the offers come in, your home needs to showcase itself well to ensure you don’t lose any offers before they can occur.

Here are five home-sale deal breakers — common mistakes to avoid.

1. Color can kill a sale. Wall colors that are too cold, too unusual or too stark can turn off buyers early in the process.
2. Don’t hide defects. Buyers will eventually find out what is underneath the decorative carpets and furniture upon walk through. Be honest from the start and disclose everything you know about your home.
3. If it conveys, it stays. Be very clear about what sells with the home. If you aren’t planning on leaving certain appliances or removable features, remove them before your home goes on the market. Buyers may fall in love with the chandelier, for example, and end the sale when they learn it doesn’t convey.
4. Community issues. If your home is part of a community association, give potential buyers access to by-law documents that detail any restrictions the homeowners, condo or co-op association imposes on your property, such as pet ownership, ability to rent out the property, working-at-home covenants, architectural standards, etc.
5. Offer peace of mind. Many buyers, especially first-time buyers, are nervous about committing to a home purchase. Offering a home warranty and/or pre-sale inspections gives a sense of security to these buyers and can help facilitate a sale.

Raleigh Real Estate is GREAT and there are a number of wonderful homes for sale to choose from. Here are a few of our featured listings. For the complete MLS, visit us at www.HomeSearchRALEIGH.com.

	6729 Middleboro Drive – Raleigh, NC 4 bedrooms, 3.5 baths, Bonus Room, 2,400 sqft Maintenance Free Living in North Raleigh! Immaculate, spacious, move-in ready w/many upgrades. Granite counters, tile backsplash, hardwood floors, built-in bookcases, bronze fixtures, cherry cabinets, wrought iron balusters and so much more.
	7931 Averette Hill Drive – Raleigh, NC 3 bedrooms, 2.5 baths, 1,288 sqft Just Listed…Call Us at 919-649-6638 for First Showings New Carpet and Fresh Paint… Like-New and Ready Now! Open living and dining area, large kitchen with island. Grocery, restaurants and shopping in walking distance. Great Location.
	7724 Matherly Drive – Wake Forest, NC 3 bedrooms, 2.5 baths, 2,372 sqft, Almost A Full Acre! Call 919-649-6638 Today for Your Personal Showing Enjoy the sights and sounds of nature in your own private retreat while being only minutes from schools and shopping. Gorgeous wood floors throughout as well as custom moldings and built in book cases in both family and living.
	Cullen Place – Garner, NC Incredible Upstairs Bedroom and Entertainment Suite Incredible Design is like two homes under the same roof… This lovely 3 bed/3 bath home will be ready for the market very soon. At nearly 3000 square feet at around $250,000, this will be a great opportunity for one very lucky family.
	2 Cat Tail Court – Durham, NC Great Brier Creek Area Location New Carpet, Fresh Paint and Ready To Move In! Wonderful 3 bed/2.5 bath home minutes from Brier Creek and Research Triangle Park. 1st floor study with French doors, master bedroom with vaulted ceiling and a large sunroom.

www.homesearchraleigh.com

So how does the Raleigh NC real estate market look these days? Currently Raleigh has a average listing price for homes for sale of $343,700. The Wake county average currently is $337,269.

The current number of properties on the market in Raleigh is 4,193. The Raleigh median listing price is $234,712.

For Wake county real estate the total listings are 9,406 and a median listing price of $254,086. This compares to North Carolina real estate data, which this week shows a total number of listing properties as 91,613 with a median listing price of $214,983.

Thanks for visiting the www.HomeSearchRALEIGH.com blog! Contact us for the best in real estate services and position yourself to buy or sell your home. Call us at 919-649-6638. The Freeman/Davis Home Team, experienced Raleigh real estate professionals and skilled negotiators.

As a community service to all North Carolinians and “MAKING JUSTICE FOR ALL A REALITY,” North Carolina lawyers are volunteering their time to answer legal questions for free on Friday, March 5th. The call is toll free.

North Carolina Bar Association Foundation is hosting its third annual 4ALL Statewide Service Day on Friday, March 5, 2010 from 7:00 a.m. until 7:00 p.m. On that day, anyone in North Carolina can call and talk with a North Carolina lawyer for FREE! Lawyers will take calls from 7 call centers around the state.

Here are the phone numbers (lawyers available that day only):

Raleigh/Triangle Area: 800-424-9725
Greensboro/Triad Area: 866-529-2204
Charlotte Area: 866-616-4255
Greenville/Eastern NC Area: 888-616-0614
Wilmington/Southeastern NC Area: 877-310-0025
Asheville/Western NC Area: 800-289-0013
Spanish Language Statewide: 800-515-2387 (only open from 8:30 a.m. until 5:30 p.m.)

Thanks for visiting the www.HomeSearchRALEIGH.com blog! Contact us for the best in real estate services and position yourself to buy or sell your home. Call us at 919-649-6638. The Freeman/Davis Home Team, experienced Raleigh real estate professionals and skilled negotiators.