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Is Autumn the Time to Leave a Rental and Buy a Triangle Home?

clker-house-pixabayIt is interesting to note that approximately one third of all single family residences are rental homes. In certain areas of the Triangle, we actually have even higher rental rates. Renting or buying is a big decision. When considering whether to purchase a Triangle home or rent one, there are many factors to consider before this important decision is made.  

Our real estate experts at Flat Fee Realty work with many Triangle renters as they assess what to do.  In fact, many people need just the basics from our team to understanding the advantages of owning a home.

Flat Fee Realty offers three basic yet important factors to consider when deciding to rent or to buy in the Triangle:

  • Financial plans: Unless something drastic is changing in the near future, such as plans to leave the Triangle area or other large purchases that need to be made; there is more to gain financially by buying a home than by renting one. Home ownership allows for mortgage reduced taxes and home appreciation.
  • Desire to customize: If making changes in the rental is the desire, it is probably wise to purchase a home. In rental homes, many landlords will not want any changes made. Owning a Triangle home will give the ability to make changes and the upgrades as needed.
  • Stability: Many first time home buyers share that they are looking for stability in their living situation. Owning a home presents a lot more stability than renting one. A new home offers sound financial decisions and a new sense of ownership and security.

There are a number of advantages to owning a new home. A few fun rewards are new furniture, energy efficiency, new neighbors, and that fresh coat of paint!  

If information is needed about buying a home in the Triangle, please contact Terry McDonald and the real estate experts at Flat Fee Realty today.

The time is now to buy your new home; give us a call.

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Photo: Clker, pixabay

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4 Big Mistakes to Avoid When Selling a Triangle Home

dreamstime_xs_18817936Listing a home in the Triangle, especially after living in it for years, can be an emotional time filled with questions and  memories. Many people across Raleigh now find themselves in an empty nest. What to do?  At Flat Fee Realty, we understand home sellers are investing quite a bit of themselves into selling their Triangle home.

The good news is that the Triangle real estate market is very active. Many people are ready to sell, especially in this seller’s market. This is great news, but managing those memories and emotions are very important. Clear thinking, coupled with the advice of one of our experienced Flat Fee Realty agents will minimize expensive mistakes. Across the country, many sellers will make an average of up to three costly mistakes each and every transaction.  

Flat Fee Realty advises against making these four big mistakes when selling a Triangle home:  

  • Having a cluttered or completely empty house: Clutter removes space and offers a poor first impression. Clear all counter space, throw out the magazines, and declutter the closets. On the other hand, a totally empty house makes it hard to envision imagine living there; consider home staging in that case.
  • Using inferior, blurry, or impromptu cell phone photos: Because most Triangle home buyers start their home search online, a home should make that “oh wow!” first impression online. Flat Fee Realty will help sellers to frame the interior and exterior in the most appealing manner.
  • Not disclosing important information: Triangle home buyers will usually discover any issues with the house, and use anything negative for bargaining position. Disclosing everything up front about every problem is the best approach.
  • Not planning the closing date: The difference of one day can make a difference in taxes paid. Check with us and our team for the best closing date.

Selling a house in the Triangle is simple but it is never easy. And, at times, it can be stressful. After all, home buying and home selling are usually the largest transactions Triangle residents will ever undertake. Flat Fee Realty can help minimize mistakes when selling a local home. If you live in Raleigh, Cary, Morrisville, and Apex and beyond, call the professionals; contact the Flat Fee Realty team today! We make the difference!

We are the future of real estate in Raleigh and the Triangle.

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

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Contact Us

Terry@FlatFeeNC.com

Photo: dreamstime, 18817936

3 Huge Reasons to Buy that Triangle Dream House Now!



pixabay-cliker-freevectorimagesThe Triangle housing market has seen great growth and continued success in 2016. For instance, the average median-priced Raleigh home, which is about $150,000 value, will sell in less than 30 days. This truly indicates that Raleigh and the Triangle are seller’s market; this is also good for Raleigh home buyers who are looking to purchase their first home, or looking to sell their current home and purchase another.

For the Triangle home buyers, September and October are definitely the time to take the next step and purchase a new home.

The real estate experts at Flat Fee Realty suggest three very important reasons why the time is right to buy, and buy quickly before the end of 2016:  

  • Demand is high: Since the Triangle area has been nationally recognized as both a great place to live and a booming economy with excellent work opportunities, new home buyers are flocking to Morrisville, Cary, Apex, and other surrounding cities to start anew. This increase in demand will lessen the supply of homes available for purchase, so buyers should act fast if they want to secure a great deal on a home. It just takes a little homework and Flat Fee Realty.
  • Supply is low: Home sellers are taking advantage of this higher demand, and because of this fact, there are less homes on the market and shorter selling times. Sometimes, even same day listings will see buyers prepared to make offers with pre-approvals in hand. Along with this, since the demand is higher than the supply, homes are selling at listed prices or a little higher, making negotiations a little more challenging as we work on the client’s behalf.
  • Mortgage rates are very good: Right now, mortgage and interest rates are extremely low, which enables Triangle home buyers to research the best rates and terms for their needs with better odds of approval. However, making a quick decision is important. Remember, after the election, rate increases can and often do happen.

These are just a few reasons why new home buyers should act now. The Triangle area is a nationally recognized location for opportunity and advancement. And we can find the dream home that will make the difference. We work for every client with both service and value combined. Contact our real estate agents at Flat Fee Realty to act now and get the best deals available!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Photo: Pixabay, Cliker freevectorimages

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Terry@FlatFeeNC.com

 

3 Questions New Home Buyers Need to Ask Before Purchasing Anything

FFR- Jan 19 Pic- Stuart MilesListing a home “as-is” in the Triangle real estate market is a move that definitely benefits the home seller. For buyers, this type of home means a lot of research is required in order to ensure that purchasing this particular property is a good investment. Enlisting the help of a Flat Fee Realty professional will make the opportunity easier to navigate, and we will assist with just the right questions to support a wise real estate decision.

The real estate experts at Flat Fee Realty advise Triangle home buyers to ask these three important questions when considering purchasing a home listed in “as-is” condition:

  • Who is the seller? This may seem redundant, but knowing who the seller is in the case of an “as-is” property is important. If the property was foreclosed on and a financial institution took over the resell, the bank might be unaware of the overall condition of the home, which may need repairs. If the current owner is selling, they may be unwilling or unable to make necessary repairs, so the negotiation process will be more challenging for both the buyer and the Flat Fee Realty agent.
  • What repairs are needed? Buyers are urged to use the due diligence period to their advantage. The listed “as-is” price may be intriguing, yet it’s crucial for buyers to be aware of any damage or problems that the property possesses so they can factor in the cost for repairs. Home inspections may cost some money upfront, but in the end the buyer benefits from knowing the property’s condition.
  • Will the seller negotiate? If inspections show that substantial work is required to make the home move-in ready, buyers should know their options for potential negotiation. The seller may indeed be incapable of making the repairs, so buyers will have to determine whether the investment is a good decision. However, if there’s room for negotiation, Flat Fee Realty in Morrisville will be able to provide guidance during the process.

Homes listed in “as-is” condition may seem like a risky investment, but armed with the right knowledge and resources, such as an agent from Flat Fee Realty, buyers will have the tools necessary to make sound decisions. Contact us today to obtain excellent counsel in the Triangle real estate market!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only. Seek the guidance of an agent before purchasing a home.

The Future of Real Estate!

Flat Fee Realty Morrisvillle, NC

919 342 5230

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Photo: Stuart Miles, FreedigitalPhotos

3 Myths Home Buyers in the Triangle Need to Know

dreamstime_xs_18817936The Triangle real estate market is in its summer season of growth. The market in the Raleigh, Cary, and Apex area is seeing lower interest rates and an increase in home values. Overall this means more competition among buyers and sellers alike; and with more competition, buyers should be educated and not make decisions based on common real estate myths.

Our real estate professionals at Flat Fee Realty shed some light on three common real estate myths that are associated with buying a home in the Triangle:

  • Down payments are the only upfront cost:  Unfortunately, this is just one of several costs that come with buying a home. Between home inspections, repairs, closing costs, and realtor commissions, buyers will do well to be prepared for financial surprises. This isn’t meant to scare potential buyers away. Proper planning and enlisting the help of a buyer’s agent will benefit those who are unfamiliar with the overall process.
  • Excellent credit gets the deal: Although a great credit score wouldn’t hurt, the reality is that most people are building credit for the first time or rebuilding after some mishaps. The housing market will not exclude those who have average or below average credit scores. Talking with a lender about your situation will show many options such as an ARM, an FHA or VA loan, or even a fixed-rate mortgage.
  • Lenders with the lowest interest rates are the best choice: When the Triangle market gets competitive, buyers tends to seek out lenders who offer the best interest rates. A few percentage points could mean the difference of several thousand dollars in mortgage interest over 30 years. However, the lender with the lowest rate might have poor reviews and client service. It is important to take the time to do research and find reputable lenders with a good history and background.

As 2016 heads more deeply into the 3rd Quarter, the Triangle housing market is sure to see some changes. Buyers and sellers must be prepared with the facts to ensure a smooth process and enjoyable buying experience. Contact our professional and friendly real estate agents at Flat Fee Realty to ensure you have the facts on your side!

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Photo: dreamstime, 18817936

This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

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Contact Us

Terry@FlatFeeNC.com

 

 

4 Money Tips for Home Buyers in the Triangle

FFR Website PhotoAs rental prices for homes and apartments in North Carolina continue to increase, many people in the Triangle are opting to buy their first home. For new buyers, the costs associated with purchasing a home may seem financially surprising; after all it is a big commitment. Our team at Flat Fee Realty will provide the expert assistance needed, and share all the costs and considerations to make new home ownership a wonderful and exciting experience.

Our real estate professionals at Flat Fee Realty know that first-time homebuyers in Raleigh, Cary, Apex, and the Triangle will need help with creating a successful game plan.

From the experts at Flat Fee Realty, follow these important money tips when preparing to purchase a home in the Triangle market.

  • Consider every expense: The initial costs when purchasing a home are sure to surprise the new buyer. Down payments, inspections, appraisal fees, and closing costs are expected as part of every purchase. The bigger picture includes loan interest, property taxes, maintenance, renovations, as well as homeowner’s and mortgage insurance. It can add up. Be prepared to budget accordingly to ensure financial success.
  • Shop for a local mortgage professional: Be diligent during this process. Mortgage lenders will often have competitive rates, so take time when researching all the options. This decision can greatly impact homeowners and budgets. For example, a $200,000 30-year mortgage at 5% will cost $386,511.57 overall, while the same value for a 15-year mortgage will cost $284,685.71.
  • Bundle home and auto insurance: Many insurance agencies offer discounts for home and auto packages. Shopping around and getting multiple quotes is worth the time and it will save money.
  • Study the Triangle market: Researching housing market trends in the Triangle area will equip home buyers with average rates for listings and selling prices. This knowledge will also empower buyers to successfully negotiate with sellers and agents if a listing price appears steep in the current market.

Flat Fee Realty understands all of the financial implications associated with buying and selling a home in the Triangle market. Let our friendly and knowledgeable real estate agents make the process less stressful and more rewarding – give us a call today to get started!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

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Contact Us

Terry@FlatFeeNC.com

3 Surprises That Can Happen at Closing

house with dollars- stuart miles- freedigitalphotos.netFor new and first-time home buyers, there can be many surprises when it comes to the buying process and closing. There is always a volume of legal paperwork, home inspections, and multiple agents that need to be consulted; often the chance for unexpected problems and challenges can create stress and even delay. However, many issues that come up can be easily handled if Triangle home buyers are properly informed and prepared.

Our seasoned real estate experts at Flat Fee Realty in the Triangle offer three surprises that can be encountered at closing:  

  • Banks might not finance the entire purchase price: Banks generally require a home appraisal prior to closing to ensure that the loan is secured by property of equal (or greater) value. Occasionally, the appraisal may come back lower than the listing price, and banks may only agree to a mortgage for the appraisal value, leaving home buyers to come up with the difference. Since so many financial variables are included with home buying, such as down payments, insurance, and other closing costs, this may pose a problem for buyers who have planned for the original purchase price. If this occurs, buyers are encouraged to obtain a second opinion on the appraisal, as well as discuss additional options with the mortgage provider.
  • High risk insurance challenges: Previous claims on the home place it in the high risk category. All lenders require insurance before agreeing to a loan, so if the home is considered difficult to insure, closing may be delayed. Buyers in this situation can reconsider their purchase as well.
  • Sellers backing out: Sellers can and sometimes do change their mind before closing. Perhaps they received a better offer, or they don’t want to make necessary repairs or modifications that have been requested. Flat Fee Realty will provide excellent counsel if this occurs, and help recover any monies lost by the buyer.

Although closing on a home may present some hurdles, Flat Fee Realty is always on the buyer’s side. Contact us at Flat Fee Realty to get the best experience when buying a home in the Triangle!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

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Contact Us

Terry@FlatFeeNC.com
Photo: Stuart Miles, Free Digital Photos

3 Summer ’16 House Selling Trends in the Triangle

FlatFeeRealty 1-14-16Many homeowners across the Triangle want to sell their home. Apex, Raleigh, and Cary are just a few local communities that are red hot for buyers. As Flat Fee Realty assesses the market, we believe the time to list is now! Compared to other states that have experienced declining real estate prices after the housing market crash of 2008, North Carolina has progressed each and every year. Zillow.com estimates the median home value at $150,000 statewide and predicts that value will increase 3% in 2016.

In addition, Charlotte and Raleigh are leading the state in home appreciation and sales since 2010, according to Wells Fargo Economic Outlook. With such a hot real estate market in Raleigh, it is important to have the home for sale visible to buyers and agents. Our real estate experts at Flat Fee Realty are well-connected in the Triangle area, and we know the right strategies to sell local homes quickly and with the right process. Our team of professionals will provide insight into current real estate market trends, especially those factors that are influencing the local market boom happening this summer of 2016.

Flat Fee Realty offers three trends that home sellers need to know when listing a home in the Triangle area:  

  • Millennials and young professionals are driving home sales: College graduates and young professionals are flocking to the Triangle in order to secure jobs in engineering, research, medical trials, and education among others. Property values have also increased, further sparking interest in the local housing market.
  • Buyers are focused on needs not wants: Local home buyers are interested in buying homes based on location and functionality, rather than luxury and amenities. With a need to be near the Research Triangle Park (RTP) and other technical and research heavy areas, entire markets benefit. For example, Downtown Raleigh and inner beltline areas have seen more than 2,000 apartment complexes built over two years and the demand is increasing with more corridors opening up along Interstate 40.
  • Demand is high and supply is low: According to Triangle Real Estate, in the first two months of 2016 there were 1,427 homes listed in Wake County with only 5.61% expiring. The average sale was 98.76% of the asking price and took about 51 days to be sold.

This is all encouraging news for homeowners looking to sell a home in Raleigh, Apex, Cary, Wake Forest, Durham and other very active markets! By utilizing the experience of our real estate professionals at Flat Free Realty, any home is sure to sell quickly and at or around the median-market value. Contact us today to see how we can help!

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Photo: Flat Fee Realty

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Terry@FlatFeeNC.com

 

 

 

3 Areas of Assessment When Buying a Home As-Is

Vectorolie, fdp 1For many home buyers in the area, from Cary to Durham to Apex, the real estate market can be very intimidating and challenging. There are so many factors to consider like school districts, mortgage rates, relocation, and the overall investment of home buying in the Triangle.

Interestingly, there is also a growing number of bank-owned and foreclosed properties listed to sell “as-is” across the region. Usually the seller is either unable or unwilling to pay for repairs or deficiencies in the home and it goes for sale in this category. The good news is that this doesn’t necessarily mean it is a deal-breaker or a “stay away from” for home buyers, especially here in the Triangle area. At Flat Fee Realty, our real estate experts are here to help buyers in Raleigh, NC and surrounding areas make these types of investments and to do it right.

The Triangle real estate experts at Flat Fee Realty suggest three areas of assessment when purchasing a property “as-is”:

  • Consult local realtors in the know like Flat Fee Realty: Listing a home to sell with the “as-is” clause means that the home seller isn’t obligated to pay for repairs. The home sellers are also not legally liable for any unfortunate events that may occur after the close. Since many sellers are financial institutions, these banks, credit unions, and loan offices may not be fully aware of the property’s condition. It is very important to consult real estate experts like Flat Fee Realty for guidance during home buying process.
  • Use the Due Diligence Period. Although not mandatory, the due diligence period for home buyers is ideal for conducting home inspections. The buyer has the advantage here, as they can cancel the contract at any time before the home is closed. This is a good time to survey the neighborhood and have the property evaluated in order to ensure a wise investment.
  • Budget for Repairs. After inspections, all required repairs will be brought to the attention of the buyer. However, many Triangle home buyers are usually happy with their considered purchase since most repairs are relatively minor; regardless, plan to budget for maintenance when considering a home listed “as-is”.

Home buying doesn’t have to be a daunting process, and we have our local team of specialists here to help! Contact the Triangle’s Real Estate Experts at Flat Fee Realty today and experience buying the perfect home.

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This post on selling and buying a home in the Triangle is brought to you by the team at Flat Fee Realty and is intended for informational purposes only.

The Future of Real Estate!

Flat Fee Realty

919 342 5230

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

Photo: Vectorolie, freedigitalphotos