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3 Questions about Mortgage Insurance from Triangle Home Buyers

2017 is gearing up to be a great year for real estate in the Triangle region! Home buyers and sellers alike will have many opportunities if they live in the Raleigh area markets. Of course, there are a few important items to consider before buying a home, and a very important one is the mortgage and private mortgage insurance (PMI).  

This insurance is applied to mortgage loans that protect the lender in case of a borrower default. In most cases, buyers must have this insurance. However, our real estate experts at Flat Fee Realty want to empower new buyers by making sure they are aware and informed about how this works.

Flat Fee Realty offers three important questions to ask when applying for a mortgage:  

  • Why is it required? Buyers with less than 20% equity are required to opt-in for mortgage insurance. The good news is that these premium rates are usually affordable, in the 0.5%-1% range of the total loan being borrowed. Lenders will want this applied to ensure they’re protected in the event that the buyer defaults on the loan.
  • Is it necessary for every loan? In this kind of equity situation, the answer is yes. Conventional loans through banks will have arrangements for the insurance to be set up through a private company where rates may vary based on credit score or loan amount. Federal Housing Administration (FHA) loans have the insurance paid directly to them, generally with the same rate applied no matter the credit score, including an upfront payment factored into closing costs and then monthly payments thereafter.
  • Will the insurance ever go away? It is possible. Removing private mortgage insurance (PMI) requires being up-to-date with monthly payments as well as reaching the date when the principal balance of the mortgage falls below 80% of the original home value. After that, the Homeowners Protection Act gives buyers the right to request a PMI cancellation.

If the real estate and housing market is confusing, don’t feel pressured to look for a home and related products without expert help.  Our knowledgeable agents with Flat Fee Realty will help everyone navigate the real estate market in 2017. Contact us today to meet our remarkable team!

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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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Terry@FlatFeeNC.com

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3 Big Trends in the Triangle Home Buying Play Book for 2017

Welcome to 2017! What will the future hold for homes and real estate? As a new year begins, many Triangle homeowners are wondering what the local region will look like this year. And the professionals at Flat Fee Realty can tell everyone, and with certainty, it will be another strong year for home selling and buying in and around Raleigh.

Of course, there will be a lot of subtle changes in the Triangle and Central North Carolina real estate market this year due to the state and national election. The different directions the economy might be heading with brand new leadership in Raleigh and in Washington will be interesting.

As the “Future of Real Estate” and experts in the marketplace, Flat Fee Realty offers three major trends that could shape the market in 2017:   

  • Rising Mortgage Rates: At the end of 2016, following the election of Donald J. Trump, we saw a slight increase in home mortgage rates. While the rates in Raleigh continue to increase slowly, this trend could slightly impact the number of homes on the market and the number of home buyers looking for Triangle homes.
  • Millennial Home Buyers: The millennials are coming into home ownership in a big way and many millennials are beginning to buy local area homes around Apex, Cary, Holly Springs, and Morrisville, including the broader Raleigh area. In this still hot home market, there is a shortage of homes for sale. With more home buyers in the market, there continues to be demand for houses across the Triangle.
  • Rise of Medium Sized Cities: Companies like Fortune are forecasting an increase in home buyers choosing property in medium sized cities like Raleigh. In the Triangle area, our major metro areas like Raleigh and Durham will grow and flourish with home importance. This trend will continue to create demand in a variety of additional towns across the region as well.

Home buyers and sellers need to adjust their play books for the real estate season ahead. This is great news for the Triangle real estate market! The “coaches” at Flat Fee Realty are available to guide and support every buying and selling need.  

While the Triangle area has experienced low inventory issues over the past couple of years, shifts in the real estate market most probably could alleviate some of that concern in 2017. As the local real estate experts in the Triangle, our team at Flat Fee Realty suggests talking to one of our agents before deciding if it is indeed the right time to buy or sell a home. For a free consultation, call our team at Flat Fee Realty today to set up a Triangle real estate appointment today!   

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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

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3 Important Reasons Why Ringing in the New Year with Flat Fee Realty Makes Cents!

Merry Christmas and Happy New Year everyone! Selling a home can be a stressful endeavor for Triangle homeowners during the Holiday Season and into the New Year. The housing market in Raleigh and the surrounding area has many prospective buyers looking for homes in the Capital City, Apex, Cary, Morrisville, and Holly Springs among others.

Listing a house “For Sale by Owner” (FSBO) might seems like a good idea for home sellers who think they will be saving and making money when the sign goes up. It is not as easy as it is in theory; often the reliance on a real estate agent knowledgeable in local and the Triangle market will be an advantage.

Our real estate market experts at Flat Fee Realty explain three reasons why FSBO is as much of a challenge as it is a risk for home sellers and buyers:  

  • The FSBO market is often a challenge: A fairly recent study by the National Association of Realtors reports that sales of homes listed as FSBO accounted for only 9% of all home sales; the FSBO market peaked at 14% in 2004. Smaller numbers mean more challenge.
  • Marketing is never easy: A local Flat Fee Realty professional knows the market and the listings. Yard signs, Facebook postings, and newspaper ads may seem like the current methodology for selling a home, but relying on these strategies can place a novice seller at a disadvantage. Plus, working with Flat Fee Realty can boost the chances of a qualified sale; listing the home on the Multiple Listing Service (MLS) is a great factor.
  • Limited availability for potential buyers: Many potential buyers can place multiple demands demand on the seller, and at a moment’s notice. For Triangle working professionals and parents, this can be a problem both with schedule and time. Having an expert Flat Fee Realty agent can minimize stress and manage the showings.

Listing as home “For Sale by Owner” can have considerable drawbacks that can affect selling success.  For those looking to sell a home across the Triangle, please contact our expert agents at Flat Fee Realty for exceptional service and insight into the Triangle housing market.

May everyone have the most wonderful Christmas and Happy New Year! 

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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: Flat Fee Realty in Morrisville

 

3 Important Facts of Less Concern for Triangle Home Buyers

bus-19069_960_720-public-domain-christmasThe Triangle Region of North Carolina is one of the most popular locations in America. The job opportunities, the mild temperate climate, and the beautiful locale near both beaches and mountains create the perfect place for new residents. Since many newcomers are young professionals and Millennials, most are probably first-time home buyers and unfamiliar with much of the new home buying and selling process.

Fortunately, our Triangle-based professional team at Flat Fee Realty is prepared to offer expert advice on what is takes to look for, and compare homes in the Raleigh, Morrisville, Cary, and Apex areas. This process doesn’t have to be a confusing one, and knowing what to focus on while searching for that dream home will make everything easier to understand.

Flat Fee Realty offers three important facts that home buyers should be less concerned about when searching for a new home in the Triangle:  

  • An abundance of clutter: If the holidays are a stressful time for home buyers, know it is as well for the home owners. Sometimes showings and walk-throughs will be announced with very little notice, and people may not have time to prepare everything for showing like they would want. As a buyer, simply take along some measuring tape to make sure furniture will fit, and try to ignore any clutter in closets, garages, and spare rooms.
  • Older appliances and kitchens: Some homes may not have stainless-steel appliances, or have kitchens equipped with smart technology. Although these are nice amenities, don’t let them be deal breakers. Consider designating some of the home purchase budget for appliance upgrades. Good homes can always improve with the needed amenities.
  • Outside opinions. There will be plenty of opinions given from neighbors, friends, and family members. They might not like certain aspects of the new home choice. There are only two important decision makers in the home buying process; the purchaser and Flat Fee Realty. Everything will and always has fallen into place.  

Viewing homes is the most enjoyable part of the buying process. Remember to be firm with needs and wants and keep an open mind during the process. One thing is for certain. We can find the home of your dreams.   

Contact us at Flat Fee Realty and get connected with one of our professional real estate experts!

Merry Christmas and Happy New Year everyone!

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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

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This entry was posted in Selling and buying homes in the Triangle and tagged Apex, Buyers, Cary, Durham, Flat Fee, Flat Fee Realty, Fuquay-Varina, Holly Springs, Home buying, Home selling, Houses for sale in the Triangle, Morrisville, Multiple listing service, Posted in Selling and buying homes in the Triangle | Tagged Apex home sales, Raleigh, Raleigh Home Market, Realty, The Future of Real Estate!, Three Reasons Why Fall and Winter are Great for Selling Triangle Homes, Triangle Home Market, Triangle home sales, Triangle real estate, Triangle schools.

 

 

5 Crucial Factors in Triangle NC Home Selling

vichaya-kiatying-angsuleeTriangle home buyers and home sellers may find the home appraisal process somewhat confusing.  Many individuals considering a change believe a real estate appraisal determines the “real value” of the home for sale.  However, appraisals actually help determine the amount a Triangle mortgage moneylender will lend on a local home purchase. An appraisal too low can limit the credit extended; an appraisal too high can leave the appraiser vulnerable to issues that could hamper a purchase.   

Our professional team at Flat Fee Realty understands that the appraisal process is crucial and important information.  In fact, most everything involved in the process of home buying and selling depends on the all – important appraisal.

Flat Fee Realty offers five crucial factors that could make or break a home appraisal:

  • Assessments: There are different values for a home. The value of a house is done by a local government for tax purposes. It serves as “additional evidence” for the appraiser.
  • Triangle location: An appraisal may include a comparative market analysis (CMA); which looks at similar type homes, considering variables such schools, traffic patterns and other surrounding factors such as privacy and view.
  • Triangle real estate markets: Important factors to consider include supply and demand, and the economy of the local and national home markets. Sometimes a low appraisal is more about the challenges of a local market than the house in question.
  • Physical demographics: This information includes age of the structure, the square footage, the amount of bedrooms and bathrooms, the age of the roof, siding and driveway. The appraisal will also reflect the age of the HVAC system, the quality of the initial construction and the value of fixtures, such as floor coverings, and plumbing. In storm-prone areas, drainage may also be important.
  • Purpose of the appraisal is important. Flat Fee Realty and the seller determine the price of the home based in part from the appraisal. A Triangle buyer may need to compare home value in different neighborhoods and price ranges. Lending institutions often want an independent appraisal as well.

An experienced Flat Fee Realty agent is knowledgeable when it comes to assessing low appraisals; there are also other complex issues involved in the buying and selling of local Triangle area real estate. We provide assistance in navigating the often confusing buying or selling process. Flat Fee Realty is here to help. Give us a call with your questions today!

Have a great and joyous Holiday Season!

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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: stuart miles, freedigitalphotos

 

 


 

3 Considerations That Help Chose the Right Triangle Real Estate Agent

meditations-pixabayBuying or selling a Triangle home can be hectic, but finding an experienced and successful real estate agent can alleviate any additional stress! The team at Flat Fee Realty possesses local, regional, and state   housing market knowledge that can help empower both home buyers and sellers to make the right choices at the right time for the best deal.

With so many options in the Raleigh area marketplace, it can be overwhelming to decide the right partnering and opportunity.

Flat Fee Realty offers three considerations to look out for when choosing a Triangle real estate agent:

  • Ask friends and neighbors for referrals: If a family or friend has recently sold or purchased a Triangle home, ask about their experience. Many of our Flat Fee Realty clients will likely be happy to share their experience and give some advice. Part of finding a great real estate agent is doing a bit of research, so utilizing referrals from trustworthy sources is a good way to start.
  • Check for licensing: Our agents at Flat Fee Realty are licensed and often hold certifications in specialized training. Realtors licensed by the state are simple to research. Also, specific certifications may hint toward expertise and fit.
  • Be ready to ask the important questions: After researching agents it’s best to have plenty of questions prepared for each of them to answer. Ask about current listings, market trends, and what recent homes have been listed and their selling price. This will allow buyers and sellers the opportunity so assess both commitment and experience. Flat Fee Realty agents who are chosen will be important to the transaction and will provide all the information necessary to make this important decision with all the facts.

The Triangle and Raleigh housing market is a great one and we want our clients to know what is best for them at all times. We are eager to help guide everyone through the process. Buying and selling in this hot market is what we do best!

Contact us at Flat Fee Realty today to see your home buying and selling options in the Triangle area!

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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: meditations, pixabay

Three Reasons Why Fall and Winter are Great for Selling Triangle Homes

miles-house-fdpSome people in the Triangle believe it is almost impossible to sell a home once the temperatures drop and the year approaches the New Year. At Flat Fee Realty, the Triangle’s local real estate specialists, we know that home buyers in and around Raleigh will purchase the perfect home any time of year. Homes indeed sell, and right through the winter with the right agent who helps promote and guide the real estate transaction.

From Flat Fee Realty, we present three reasons why fall and winter are two of the best seasons to list a home in the Triangle:

  • Higher sale prices in the Triangle: Residential properties from Apex, Cary, Raleigh, Morrisville, Holly Springs and beyond are continuing increasing in value. Sellers can  find the buyers willing to pay market value, especially as we head to the holiday season and the beginning of 2017. There is great chance that people will continue to look and submit offers regardless of the season. There always is year around opportunity because of the mild winters and lack of snow. At Flat Fee Realty our team of professionals can find the perfect buyer willing to move into a new home any month in any year.
  • Fewer homes for sale in the Raleigh and Triangle area: Homes hold their value regardless of the month. In fact, there might be a fewer choices as well. As a very general rule, home selling and buying popularity reaches its peak in spring and into early summer. Although the quantity of homes might be less in winter than spring; there is still Triangle home selling and buying every single month of the year. It is a sellers’ market in both warmer and cooler months and homes sell in this market.
  • Very motivated buyers: If the market is a little smaller as the end of the year approaches, it can mean more buyers too. Many people are very motivated to get in before New Year’s Day.  People are always willing to look for homes this time of year, and finding the one that meets their needs is just as important in November as it is in June. And buyers are often more qualified and interested, and willing to accept pricing. This is good news for sellers.

Of course, it is best to show a house with great curb appeal by making sure the property is cleared of leaves and the outside is neat and trim. The more natural light in the rooms, the better, and it is important to use timers and modern technology to keep the lighting pleasing after dark. Always make sure that the house is cozy and warm, with fireplace burning, to make it even more inviting. With good staging and timing, anyone can sell a home this time of year! Give us a call and we will put everything together. W are the future of real estate in the Triangle. 

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.

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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: Stuart Miles, freedigitalphotos

 

 

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

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

 

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

Find and like us on Facebook!

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

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

 

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