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4 Real Estate Myths that Survive in the Triangle

The real estate market in the Triangle is bubbling with activity as we move into the Spring of 2017. Our agents and market professionals at Flat Fee Realty want buyers and sellers across the region to be fully informed as they prepare to buy and sell. The focus of this week’s real estate blog post focus is on dispelling a few lingering myths that seem to still permeate the Triangle.

Four myths that our Flat Fee Realty Team wants to share to prospective home buyers and home sellers in the Triangle are:

  • Open Houses will sell a home, guaranteed: There is a wide variety of people who attend open house. Some people attend these showings on a regular basis just to get ideas. Most often, interested buyers will typically schedule a second visit with one of our agents a more personal and intimate view of the property. That said, open houses serve a purpose.
  • Buyers get better deals on their own: Buyers may think they’re saving money by not paying commission to a buyer’s agent, but this simply isn’t the case. Houses listed have total commission included in the list price, so buyers aren’t avoiding commission costs by going solo.
  • Sellers save money by listing FSBO: Sellers who choose to list their home as For Sale By Owner are usually interested in saving money. Unfortunately, most buyers are wary of FSBO listings, and it takes a lot of effort to market and show the home that sellers promote on their own.
  • Listing above market rate will result in a higher sale price: Many Triangle buyers and agents avoid most properties that are listed above market rates for variety of reasons. It’s simple to lower the price, but sellers also must be aware that homes listed for an extended period of time draw buyer concern. Listing at a reasonable market price will see more activity and more visits.  

The real estate industry varies state by state, and there are always changes and additions to existing laws that can make home selling a challenge at times. Our Triangle market and our Flat Fee Realty team provide great opportunities as we head into the spring selling season!  Call us and meet with one of our local industry experts; contact us today!

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

Photo: Pixabay

The Future of Real Estate!

Flat Fee Realty

919 342 5230

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Terry@FlatFeeNC.com

4 Important Home Showing “No No’s” for Triangle Home Sellers

Triangle homeowners are eager to take advantage of the exciting real estate market in 2017. With so many newcomers flocking to Raleigh as well as Apex, Cary, Holly Springs, Fuquay Varina, and Morrisville; there will be plenty of interested home buyers looking for the perfect home.

Since there are lots of things to think about when preparing to sell a home, our agents here at Flat Fee Realty want to share some insider information. For example, plenty of sellers know how to prepare for a home showing, but do they know what not to do for a showing?

The four most important home showing “no-no’s” to keep in mind while a house is on the market in the Triangle are:

  • Lingering homeowners: Quite frankly, it’s rude to hang around when potential buyers and their agents come to view the home. Sellers can put unnecessary pressure on visitors or make the entire visit an awkward situation.
  • Bad or overpowering smells: Odors can be a big turn off for buyers. Scents that linger long after cooking, pet odors, and cigarette smoke; they are common offenders. Sellers, who have gotten used to their own home, may be unaware of odors that have settled in; but buyers will notice them immediately. Also, some people have allergies to perfumed scents, so don’t use oil plug-ins or air freshening sprays.
  • Dirt or clutter: It’s not expected for sellers to keep an immaculate home at all times. Life happens, and for families on the go it’s hard to keep up with every speck of dirt. However, there shouldn’t be mountains of dirty laundry, rings around the toilets, overflowing trash cans, and unmade beds. Those details will impact the buyer’s perception of the home, usually in a negative way.
  • Loose and wandering pets: Animals are a blessing. Yet, beware that some buyers, or agents, may have pet allergies or fear of animals. Also, dogs and cats can be unpredictable, and if they feel threatened in any way there’s no telling what could happen. Best to be on the safe side and keep the pets in a secluded area or with neighbors where they can’t be disturbed.

Don’t let the stress of selling a home create any mistakes. Get the house show-ready with the help of our real estate experts from Flat Fee Realty! 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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Contact Us

Terry@FlatFeeNC.com

Photo: artseybee, pixabay

 

 

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

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

Photo: Tumisu, pixabay

 

 

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

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

Photo: 135923028, http://depositphotos.com/

 

 

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

4 Reasons Why 2016 is the Year to Buy a Triangle Home

home search, hywards, freedigitalphotos.netMany home buyers in the Triangle have been waiting patiently! They have been slowly saving their money; preparing, learning, and trying to decide when is the right time to buy a new home. This is the year! Triangle real estate professionals have repeatedly predicted that 2016 will be one of the best years for home buyers in Raleigh and the region.

Local real estate professionals consider many factors before determining how the real estate market will be in the future. Here is why 2016 will be a record year in central North Carolina.

Flat Fee Realty believes in the following key factors that we think will make 2016 a great year for Triangle and Raleigh buyers and sellers alike:

  • ​More houses will be on the market: One important local real estate trend in 2015 was the selling of homes that had positive home equity. This created a seller-friendly real estate market. It also, at times, increased the likelihood of a multiple buyers for one property which in turn solidified the asking price. More homes will be available in 2016.
  • Mortgage rates might increase in the coming year: While current mortgage rates are still some of the lowest in history, it is expected that the rates will likely rise. While it will still be possible to have historically affordable mortgage rates, buyers will be looking soon for a home.
  • Average rent rates are on the rise: Over the past several years, the average rent has risen for apartments, town homes, and rental homes all across the Triangle area and nation. With those rising rates, it is becoming more and more apparent that the best financial choice for many people in the Triangle is buying a home. 
  • The availability of online tools: The access of information that the average Triangle home buyer has today is incredible, both in volume and accuracy. Buyers and sellers are more informed than ever. One such tool offered is our own from Flat Fee Realty, an online MLS listing service that enables home buyer and home sellers to bypass the expensive fees of realtors.

In 2016, buying or selling a home in the Triangle area has never been more defined as a process. Call us at  Flat Fee Realty! With value-based fees, easy to use interface, and a service track record of success when it comes to buying and selling houses; Flat Fee Realty is the smart choice for home buyers and sellers. 

Visit our website to get started 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

Find and like us on Facebook!

Contact Us

Terry@FlatFeeNC.com

Photo: Hywards, freedigitalphotos.net


 

 

 

3 of the Biggest Fallacies When Buying and Selling a Triangle Home

stockimages-telling a secret-freedigitalphotos.netMyths, fallacies, and sometimes outright falsehoods abound in the real estate industry. These old wives tales are frequently circulated amongst unknowing buyers and sellers, making them think twice about buying and selling. Usually, a little research is all it takes to uncover the truth, but they staying power of these stories is still surprising.

The fact-finding real estate agents at Flat Fee Realty are determined to educate buyers and sellers with the right three facts:

  • A home must be updated to sell: With so much new construction in the area, it’s easy to assume that if a home doesn’t have walk in closets, a kitchen island, or a third floor bonus room, it won’t sell. However, many homes in extremely desirable areas don’t have these features, simply because they were built years before those features became trends. While the sales price may or may not take this into account, many times all that’s necessary is a buyer with a vision. 
  • Condominiums and townhomes are harder to sell: Strictly by the numbers, it’s true that there’s more demand for detached, single-family homes, but those properties also usually appeal to a totally different market than their multi-family counterparts. The multi-family market is smaller, and financing restrictions can be tough to navigate, so be sure any professional involved is experienced with these types of properties. 
  • New construction means no problems: A lot of buyers think, similar to purchasing a new car, opting for new construction will guarantee maintenance free living (at least for a few years). Nothing could be further from the truth. Quality of construction varies widely (inspections only check for adherence to building codes, not quality), and the unknowns of a brand new, unfinished neighborhood are numerous. 

There are a lot of nuances to the real estate industry. Aside from that, trends, best practices, and laws are always changing. Perhaps that’s why most of these mistaken beliefs are so prevalent. It’s also why it’s important to have an expert agent assisting in the buying and selling process.

If you’re thinking about buying or selling a home, contact us today! Flat Fee Realty agents are waiting to make sure your decisions are based on logic, not urban legends.

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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 

Contact Us 

Terry@FlatFeeNC.com 

Photo: stockimages, Freedigitalphotos.net

 

4 Reasons to Sell a Home during the Holidays and Winter Season

Gingerbread House- Serge Photography- freedigitalphotos.netAs real estate’s super busy seasons wind down, it’s common for Triangle sellers to question whether the winter is a good time to sell, and if it’s worth it to leave their home on the market. Popular wisdom says to take it off the market and try again in the spring, but there are actual many distinctive advantages to promote a home on the market in December, January, and February. The expert real estate agents at Flat Fee Realty want home sellers to wisely spend their time, energy, and money in the cool months of North Carolina.

The professionals at Flat Fee Realty share four important reasons why it’s a great idea to keep a home on the market in winter:

  • Homes look attractive during the holidays: With admittedly fewer buyers making the rounds, it’s especially important to impress the ones who do show up. During the holidays, homes usually feel warm, look inviting, and smell good. Holiday decorations can do double duty for home-staging.
  • Most buyers look online first: Before the rise of the internet, the short daylight hours and the occasional wintry weather made it less likely that buyers would want to see homes for sale. Since the vast majority of buyers view homes online first, every day of the year is good.
  • There is less competition: Inventory in the Triangle real estate market is already low, and as the holidays approach, sellers will take their homes off the market for various reasons. That will make the inventory even lower, putting the sellers that remain at a big advantage.
  • Buyers are more serious: People move to the Triangle every day and every week, regardless of holidays or seasons. With the busy holidays on everyone’s calendar, only the most serious buyers will make room in their already busy weekends to see homes. Chances are, if someone is looking to move in the winter, they have the incentive to do so. The seller wins when buyers are motivated.

While the Raleigh real estate market does still have its predictable highs and lows throughout the year, the traditional seasonal distinctions are becoming less and less important. There is only one selling and buying certainty. A home that’s not on the market will never sell.

Is this the season to sell or buy for you? The real estate agents at Flat Fee Realty help buyers and sellers navigate current real estate trends and date to make only the best decisions. Contact us 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 

Contact Us 

Terry@FlatFeeNC.com 

Photo: Serge Bertasius Photography, Freedigitalphotos.net

 

 

Top 4 “What to Do’s” for Using Social Media in Home Selling

house on computer-ddpavumba-freedigitalphotos.netAlmost everyone in the Triangle has a social media account on one of the top platforms like Google +, Twitter, and Facebook. Whether it’s used to keep up with distant family members, track ideas, find inspiration, or even find some childhood friends; social media is everywhere. And it is truly a positive aspect of our lives when used responsibly. These platforms can actually be serious tools for buying and selling homes. It is critical to get advice and guidance from our knowledgeable team of real estate professionals.

Take a look at the list below to find out how our agents at Flat Fee Realty share their ideas for successful home buying and selling:

  • Lay the foundation for the sale: There are some things you can do on your own to create social media pages for the Flat Fee listing, including professional pictures, a description, and maybe even a short video or virtual tour. Research and use hash tags in order to track buyers potentially relocating or looking for a property in the area.
  • Focus on friends: Don’t have thousands of friends, followers, or connections? Don’t worry. Take advantage of social media’s reach by sharing our Flat Fee Realty listing and asking friends to like and share with their friends too. This immediately expands the reach of a listing, without the stress and regret of indiscriminately adding random contacts.
  • Engage with followers: Hopefully, potential buyers will be “liking” the listing and commenting in just a day or two. Check the page every day in order to comment back, share more info, or answer any potential questions.
  • Don’t overshare: It might be tempting to vent about being ready to move out of the neighborhood, or asking for advice on negotiations, but resist the urge until checking with your Flat Fee Realty agent. Never risk giving away sensitive information that buyers could use to lower the sales price or gain other concessions. Once a house is under contract, you can delete the accounts.

New developments in the real estate market are happening all the time, and using social media to buy and sell homes is a tool many people use. Social media is a great way to expand the reach of your listing, create buzz about the home, and ultimately lead to a sale. Just make sure you work with your agent when you are contacted.

Social media can be an excellent sales tool, but it can’t work miracles and it does require a strategy. The Flat Fee Realty Team can help Triangle buyers and sellers focus their efforts for the maximum reward.

Contact us today to find out the best and most up-to-date strategies for buying and selling!

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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 

Contact Us 

Terry@FlatFeeNC.com 

Photo: ddpavumba, Freedigitalphotos.net

4 Important Truths about Selling a Home in North Carolina

myth or fact- stuart miles- freedigitalphotos.netWe offer an important fact. Most people find the unknown a little bit scary, and homeowners in the Triangle and North Carolina are no different. It is an exciting 3rd Quarter in Triangle real market. And it might be the right time for many owners in Raleigh, Cary, Apex and vicinity to trade up. While envisioning a new home is easy, making the decision to sell a home is often difficult.

Our experienced real estate professionals at Flat Fee Realty share three very important facts about selling a home as we head to 2016:

  • Overpricing a home can help the neighbors more easily sell theirs: Every home for sale is in direct competition with other homes for sale in a neighborhood. If priced too high, it will never show up when buyers search in the range that it should be priced. It will show up in higher priced searches, along with a neighbor’s bigger, nicer homes. Not many buyers are willing to pay more for less.
  • Selling a home is often more than just a daily inconvenience: Every home seller has disruptions and inconvenience. Getting the home ready to sell; packing, and the interruption of daily schedules and activities are all part of moving. Keeping expectations under control will make the entire process easier.
  • Ignoring a home repair will cost more than the repair itself: Fixing a repair before a home is under contract is almost always easier and less expensive. Once a buyer notices the need for repair, they will use it to negotiate a lower sales price. They’ll think other repairs will be needed as well. They’ll want a bit more of a reduction to cover the cost.
  • Closing day is the final day: When closing day arrives, sellers must have all of their belongings moved out, leaving the home clean and in move-in condition for the buyers. Extra time isn’t allowed, unless of course a seller has negotiated this with the buyer. Of course, there’s a cost to this, as buyers will want financial compensation, or “rent”, if sellers want to stay in the home past closing.

There are countless myths surrounding the home buying and selling process, and sometimes it seems like everyone is an expert. This couldn’t be further from the truth. Experience counts in real estate. Working with a knowledgeable, reliable Flat Fee Realty agent is the best way to find out the straight truth about the sales process.

The real estate agents at Flat Fee Realty want to help Triangle buyers and sellers separate fact from fiction. Contact us today to find out the essential things to know before deciding to buy or sell a 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 

Contact Us 

Terry@FlatFeeNC.com 

Photo: Stuart Miles, Freedigitalphotos.net

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