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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.

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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.

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Flat Fee Realty

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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

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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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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

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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

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Terry@FlatFeeNC.com

Photo: Vectorolie, freedigitalphotos

4 Factors to Consider When Buying a Home in the Triangle

1-31-15 3The Triangle and Raleigh real estate market is a very strong seller’s market as we head into the summers months of 2016. The market seems to be improving in the seller’s favor everyday due to lack of available homes for sale. Flat Fee Realty knows the challenges for first time home buyers as they look for a nice home in a new location. Many prospective home buyers are uncomfortable in any type of bidding situation and many just will wait for the climate to change. 

When purchasing a home here in the Triangle, there are many factors that must go into the decision to buy an existing home or build a new one.

When considering a newly built Triangle home or a pre-owned home, Flat Fee Realty offers four important factors to consider:  

  • Warranty: New homes will come with warranties that cover appliances, plumbing, heating and more. When purchasing a pre-owned home, buyers can negotiate a home warranty into the sales price of the home, but it may have a large fee and a high deductible and it might not cover as much as a new home warranty.
  • Home design: A great upside of purchasing an existing home is the ability to see how the previous homeowner laid out the home with furniture; Raleigh home buyers can even negotiate the furniture into the sale price of the home. With a newly built home in the Triangle, there are a lot of decisions to be made in reference to brand new construction, from flooring to windows.
  • Out of pocket costs: When purchasing a pre-owned home, there are probably less out of pocket costs associated with the purchase. In a newly built home, a local home builder will most likely require a big deposit down on the home for any add-ons that must be paid for before the build begins or just before closing. A pre-owned home will allow for more negotiation of fees into the closing costs.
  • Floor plan options: Newly built houses are typically the most up-to-date with trends consumers want in 2016, from energy efficiency to open floor plans.

In this hot Triangle and Raleigh real estate market, it can be challenging to make the right decisions. It might be a great time to sell a home, but how can anyone buy a new home? Call us with questions about the options of purchase here in the Triangle. We know the market well. Contact the team at Flat Fee Realty today for more information.

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Photo: IMUSM

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

 

 

 

4 Top Reasons Why Some Triangle Home Buyers Should Look at New Homes

Ponsulak new houseThe real estate market in the Raleigh and Triangle area is red hot, and one of the strongest in the U.S. at the moment. Flat Fee Realty has noticed that many area home buyers must now compete for a shortage of existing houses. And many of these homes are being sold well above asking price. A lot of offers are simply not being accepted and are rejected for more money. Savvy buyers who don’t want to compete against others looking for houses often can turn to new construction.

Flat Fee Realty presents the top four reasons why some Triangle home are considering purchasing new homes instead of existing properties:

  • Home warranties: The warranties that come with a new home cover all major appliances such as the structure, HVAC system, plumbing and more. In an existing Triangle home, there may be costly issues that may need to be addressed, such as updating the roof or replacing the HVAC system.
  • Saving money: There are many ways that new homes can save money; most new houses are more energy efficient than existing ones in the Triangle. Energy efficiency can save a lot of money on utility bills.
  • Brand new: The ability to design a home from the foundation up ensures that it is exactly the way the home buyer wants it to be. Everything is planned into the new construction meaning there are no surprises.
  • Innovation and technology: Homes in the Triangle and Raleigh proper are indeed much more efficient that those built in the late 1990’s and older. New homes often have the best features that all Raleigh home buyers are looking for, like nine foot ceilings, open floor plans, and a great use of space. New homes being built in the region are up to date in many ways.  

Readers of this blog post, who want to view all of the communities in the Triangle area including new construction, can contact our team at Flat Fee Realty today to get information on new construction communities 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.

Photo: Ponsulak, Freedigitalphotos

The Future of Real Estate!

Flat Fee Realty

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4 of the Best Ways to Stage a Triangle Home

ID-100410510As the old adage goes, “First impressions are everything!” This is very true when it comes to the Triangle NC real estate market! In this hot market, it is incredibly important to give a great first impression. The first minutes, as potential buyers walk from the car and through the front door, are very important. Many Triangle home sellers stage their houses and many do it well. Staging a house properly has a variety of important benefits and it can be done in a number of ways.

From the Flat Fee Realty team, here are the top four best ways to stage a Triangle home:

  • Remove clutter: This is a very simple and big first step. Removing any excessive furniture and decorations can go a long way towards opening up the home and making potential Triangle homebuyers more at ease.
  • Eliminate the personal stuff: While potential home buyers understand that this is indeed not their home yet, they also really want to be able to envision themselves living in the space. So it might be wise to pack up the family heirlooms in favor of a more open and modern appearance throughout the home.
  • Rearrange the rooms: Open up the rooms with proper furniture and table placement. Use flowers and fresh and appealing plants to draw the potential home buyer’s eyes to the positives.
  • Ask for friendly advice: There is usually a good neighbor or friend that can give advice on how the house looks before the sign goes up or when there is that first open house. This strategy can really help adjust the overall picture. Sometimes important details are overlooked and potential buyers might catch any negatives.

Flat Fee Realty is the best way to buy and sell a home in the Triangle and Raleigh. Our team has all the tools needed, and with an advanced and affordable suite of options that will help the Triangle homeowner get the greatest value for their Triangle property, it is critical to give us a call. Contact Flat Fee Realty at 888-646-9488 or visit our website.

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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

Photo: khongkitwiriyachan, freedigitalphotos.net

 

4 Important Steps That Can Sell a House Fast in the Triangle Market

FFR- Jan 19 Pic- Stuart MilesThe Triangle has consistently ranked as one of the top places to live and work in the country. This is great news for anyone in the Triangle who is considering selling a home this spring. In 2016, Triangle real estate is indeed in a seller’s market, and it can be very financially favorable for people in the Triangle trying to sell a home. A true benefit of a seller’s market is that listings can often sell very quickly, especially when following the advice of our expert team at Flat Fee Realty. If there is an interest in selling a home in Apex, Cary, and Holly Springs and beyond, there will always be questions that need professional answers. The home selling process can be complicated, and homeowners need to do to get ready for the buyer. Spring is here.

Our team at Flat Fee Realty offers four important steps that can help Triangle home sellers sell in this exciting market:  

  • Do inexpensive home improvements and housework: This is often suggested by experienced realtors, and it is very true. For example, thoroughly cleaning and depersonalizing the home can make a big difference to potential buyers.  
  • Choose Flat Fee Realty: Some local area homes are selling quickly, but if a home is priced too high than it will not sell. At the same time, if a home is priced too low, the homeowner might not receive full possible value from the investment. A very good strategy is to get good information on pricing through the MLS, which can be accessed through Flat Fee Realty’s innovative product.
  • Know the market, the neighborhood, and the typical sale: In business, companies have to figure out who will buy their product and then they market to those potential customers. The Triangle real estate market is no different. A big step in selling a Triangle house quickly is figuring out the demographics of the likely buyer. Will it be a family, a newlywed or retiree? Knowing these answers can help Flat Fee Realty to sell the home quickly and for the best price.
  • Get the house on the market: The best way to sell is through the multiple listing service, also known as the MLS. This tool is used by almost every realtor and through Flat Fee Realty any listing will be uploaded to all of the popular listing websites, enabling maximum coverage.

Looking to sell a Triangle area home? Contact the Flat Fee Realty experts for more information about the Triangle home market and how we can help sell a Triangle home. Call us at Flat Fee Realty today at 888-649-9488 or visit our website for more information about home selling and buying 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 professional 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

Photo: Stuart Miles, freedigitalphotos.net

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