iRaleighRealEstate Blog

Here’s more timely information about Raleigh real estate from Rick Freeman and Amy Davis, the Freeman/Davis Home Team at Allen Tate in the Triangle.

Here’s what’s happening in real estate and it’s all about J-O-B-s!  The statewide unemployment rate dropped to 10.8% in April, down from the all-time high of 11.2%.  This is the lowest the state has seen since unemployment was at 10.7 percent in April 2009.  It’s an encouraging trend but for people trying to sell their homes and others with neighborhoods full of “for sale” signs, lets it into perspective.  In April of 2007, our unemployment rate was 4.4%.  Yes…a jump of over 6.5% in just 3 years.  It’s no wonder why homes are on the market for so long.  People without jobs can’t purchase homes and when people lose their jobs, they have a higher potential to fall behind in payments which leads to more distressed properties. 

High unemployment results in less demand and more supply, which in real estate means downward pressure on prices.  The forecast for the 2nd half of 2010 is for higher interest rates and more foreclosures. As for Washington, the only thing government is involved in is loan modification programs which to date have had little impact and historically have had little effect on speeding recovery.  It appears that the current economic situation will result in home prices continuing to decline as demand wanes and supply increases.

The silver lining in this news is if you are a prospective home buyer.  Almost 90% of the workforce is employed and with home prices declining and interest rates about to rise, now is an excellent time to consider a home purchase.  If you or someone you know is ready to start the process, give us a call.  Remember, your glass is “half full” so don’t be discouraged!  We love helping people like you and your friends make the best of these economic times and encourage you to let people know about us.  Friends who know us and our integrity telling others about the confidence they can place in our services.  We do appreciate it.

The Freeman/Davis Home Team welcomes your comments on any of our blog entries.  If you have a question about Raleigh Homes, Raleigh Real Estate or Life In The Triangle, please contact Rick Freeman and Amy Davis!

Search For Homes in the Triangle on our Raleigh MLS VOW (Virtual Office Website), the most advanced home search tool online.

Here’s something for the water cooler from your Raleigh Realtor Team, Rick Freeman and Amy Davis.

Regardless of how you feel about politics and off-shore drilling, we can’t help but be disturbed by the oil spill in the Gulf of Mexico.  Afterall, just about everyone on the planet will be affected, one way or another.   Well here is a fascinating video about a possible solution to the clean-up and it looks like these good ole boys may be on to something.  Enjoy!

Raleigh Real Estate Mythbusters

Real Estate Strategy

Myth – “The best game plan is to price your home over market to give yourself room for negotiation if offers come in low.”

Here’s Why that is a Myth – Most homes sell within 5% of what similar neighborhood homes have recently brought. Pricing your home too high will actually scare buyers away. They’ll assume you are unrealistic and likely to be difficult to deal with. In addition, buyers who believe your home is out of their price range won’t even look at it.

The best way to deal with a low offer is by making a counteroffer or rejecting the contract outright. Having an experienced real estate agent in your corner will help you price your home to sell quickly, while netting you the best possible return.

PRICING – Need more information on pricing your home to sell? Read our FREE online report, PRICING: Beat Your Competition To The Contract. There’s absolutely no obligation.

It’s going to be a beautiful day. If you’re out and about near my office on Falls of Neuse, 2 blocks north of I-540, stop by sometime between 11 and 2. We’re having hotdogs, giveaways, a bounce house for the kids and a lot of other stuff. Hope to see you.

Raleigh Real Estate and area homes alert for military and federal employees!

Did you know… Members of the military and certain other federal employees serving outside the U.S. have an extra year to buy a principal residence in the U.S. and qualify for the $8000/$6500 tax credit which just expired for everyone else.

Thus, an eligible taxpayer must buy, or enter into a binding contract to buy, a principal residence on or before April 30, 2011. If a binding contract is entered into by that date, the taxpayer has until June 30, 2011, to close on the purchase. Members of the uniformed services, members of the Foreign Service and employees of the intelligence community are eligible for this special rule.

It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010.

For more information on this topic, email us at HomeSearchRALEIGH@nc.rr.com.  Visit us online for more Raleigh Real Estate information and see all of the homes in the Raleigh MLS for sale.  Any given day in Raleigh, home accidents happen and many could be avoided if a few changes to the home were made. Whether you live in Raleigh, Durham, Chapel Hill or your home is somewhere across the country, safety should be a primary concern. It can also impact your real estate insurance rates. If you’re moving into a new home, or making changes to your current home, you can make choices that will help make your home safe, especially if you have small children or young visitors.

Remember that most home accidents occur in the kitchen. If you have a choice in appliances, select a stove with controls placed out of the reach of children. Vinyl flooring should be slip-resistant and both cabinets and countertops should have rounded edges. A window that overlooks any backyard play area will help you keep one eye on the youngsters while you’re preparing meals.

You can outfit your kitchen with a few simple items that will increase its safety. A step stool will help you reach overhead cabinets safely. A box of baking soda close to the stove can be used to douse small pan fires. You’ll need an all-purpose fire extinguisher in the kitchen, as well. A smoke detector will alert you to fires if you leave the room.

Practice safe habits in the kitchen, too. Clean up spills right away so that they don’t make floors slippery or sticky. Remember that long sleeves can catch fire. Store knives in a rack or a drawer that is not accessible to children. Make sure that pot handles don’t extend out over the edge of the stove while you’re cooking. Keep curtains, papers or other materials away from the burners of the stove.

Accidents can happen in other areas of your home, too. In your hallways, be sure scatter rugs have a skid-proof backing. Lowering light switches or installing switch extenders will help little hands turn lights on or off.

• If you’re renovating a bathroom, choose a tub with a non-slip finish. Cabinets that lock keep children away from hazardous medications or cleaning solutions. Ground fault interrupter (GFI) outlets should be installed on every outlet near water. (The GFI is designed to shut off the electricity to an appliance that gets wet.) Choose ceramic tiles that have non-skid surfaces on the floor.

Make sure stairways are well lit. A landing will help break up a long staircase and make it safer. Non-skid edges on steps and secure well-placed railings can also prevent accidents.

Taking a few moments to correct any hazards you find will let you have a safe–and happy-summer at home. More tips and real estate advice is online at www.HomeSearchRALEIGH.com.

For more information on this topic, email us at HomeSearchRALEIGH@nc.rr.com.  Visit us online for more Raleigh Real Estate information and see all of the homes in the Raleigh MLS for sale. 

I have some interesting perspectives on choosing Raleigh homes and Wake County real estate today.  As you drive around some of the neighborhoods in Raleigh, Cary and Wake Forest, looking at homes for sale and thinking about neighborhoods and schools, think about this…when you’re looking for a home in Raleigh or any of our Triangle area towns, remember: “where your house sits is as important as what the house is like.”

Here are some of the questions we always ask when we’re checking out a new listing. Naturally, we pass what we know about properties on to people shopping for homes in the Raleigh / Durham area, but you, too, can have these considerations in mind:

• What is the traffic like on the road where you’d like to live?
• What are future plans for road development, if any?
• What are the plans for surrounding property? (answers are sometimes common knowledge, but often they must be looked up in the town hall offices where maps, charts and proposals are available.)
• Where is the nearest public transportation?
• How far is the house from schools, shopping, recreation, religious and cultural centers (depending on individual preferences)?
• How far is the house from a particular place of work and what kind of commute is available?
• What do local taxes (state, county and town) amount to and how are they calculated?

If you’d like to learn more about our area, call us at 919-649-6638 or email us at

HomeSearchRALEIGH@nc.rr.com.  Visit us online at www.HomeSearchRALEIGH.com and see all of the homes in MLS for sale.