Real Estate Information

While you may be thinking that due to the poor economy its a bad time to buy a new Chapel Hill Home, its actually the opposite! For many North Carolina residents, it can actually be more cost effective to own than to rent!

Here are ten great reasons that NOW is the time to buy!

10. You'll get a better home. In different parts of the country, it's hard to find a good rental.

9. The National Association of Realtors puts the current inventory at around 4 million homes. That's enough for a years worth of sales. That means a lot of choices as well as great prices.

8. Sooner of later, the market will improve. There will be more demand than supply. The population is supposed to grow by more than 100 million people over the next 40 years. That means a lot of people will be looking for new homes in the future.

7. Your home isn't the stock market and it shouldn't be viewed as a way to get rich. Real Estate prices will go up again. Equity in your home is another way of investing in your future.

6. If offers some inflation protection, especially if you are young and raising a family.

5. It will be yours. You can have the kitchen and bathrooms you want, you can move walls or build an extension. You can even paint your home bright red. Few landlords will allow you to do that.

4. It's a buyer's market. We all like a good deal, we feel a sense of satisfaction after negotiating.

3. It's forced savings.  If you rent an apartment for $2000/month instead of buying one for $2400/month, renting seems like a good idea but will you save the $400 for the future? Most people won't and since part of that monthly payment as an owner is tax deductible, you do the math.  You are just paying yourself by building equity in your home.

2. You'll save on taxes. You can deduct mortgage interest and real estate taxes from your income taxes.

1. Mortgages are cheap. Interest rates are at historic lows. Two years ago they were around 6.3%. Now they are around 4.3% for a 30 year fixed loan. That's a big difference in your monthly payment.  When inflation goes up, interest rates will go up.

Questions and not sure who to ask? Need help finding your dream home? This market we are facing poses challenges but also opportunities.  Contact us to help you find the best home in this buyers' market for your family!

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The real estate market is picking up but how do you differentiate your home from all the other listings out there?

I have had many of my seller clients prepare "Top Ten Reasons Why We Love Our Home" Lists. It can also help if a seller writes a "Seller Love Letter". Both express the love the seller's family has had for the home and explain the facts and events behind their feelings.

Buyers like to hear about sweet, fond family memories about a property, which is better than a home filled with tragic stories or sadness regarding a short sale or foreclosure.

Other good ideas to include in these lists/letters are:

1)Favorite neighborhood restaurants, dry cleaners, house cleaners, landscapers, carpet cleaners.  

2)Local dog parks, playgrounds, running trails, yoga studios, health clubs, libraries, bookstores, museums and other recreational activities.

3)History of upgrades, a landscape plan.

4)Neighborhood activities, listservs.

In such a competitive market, it's always a good selling point to share happy memories and logistical information. Buyers sometimes get weary of dealing with bank sellers or stressful short-sale situations.

If you would like Masha Halpern & The Smart Move Team to help you sell your home and provide you with more seller tips, please do not hesitate to give us a call. We'll get the job done!

When your in a foreclosure situation it can be quite scary and many homeowners just don't know of how fast a foreclosure can proceed. I’ve heard some heartbreaking stories in the last few months. The foreclosure process is painfully personal and can be painfully fast. Do you realize you and your family can lose your most precious asset in just a few short months?

So what happens in a foreclosure--and when? The U.S. Department of Housing and Urban Development has prepared an easy-to-understand foreclosure timeline. Just to emphasize how pressing foreclosure can be, I’ve put that timeline into very human perspective below:

You miss one payment. You get a call or note from your lender. Not so bad, right? You’re just juggling the bills a little right now--no problem. You’ll pay as soon as possible. Not to worry.

You miss two payments. Your lender calls again. Where are the payments? You’re still trying to convince yourself that everything is OK, but you still can’t make the payment, either. Things have to get better, don’t they? You’re starting to worry, but you do nothing.

You miss three payments. You get a scary “Demand Letter” or “Notice To Accelerate” from the bank that says you must pay all the missed payments in 30 days. If you don’t pay or negotiate different arrangements, the bank can start foreclosure. Now you’re really worried, but you’re hoping it’s a bluff. Foreclosure takes forever, doesn’t it? So you again do nothing.

You miss four payments. You still haven’t paid or made other arrangements within that 30 days. The lender turns you over to the legal team, and now you’re responsible for all the legal expenses, too. Once again you do nothing--because you’re overwhelmed and terrified.

You get notice that your home will be sold by the Sheriff--and you’re in foreclosure. But it’s only been just a few short months! You’re told you can save your home if you make all the missed payments and pay all the delinquency costs. But where will you get all that money, and why would the lender accept other arrangements now? So you again do nothing. It’s too late!

You get one last chance to save your home. You can still keep your home even after the sale if you pay all the missed payments and all foreclosure costs. You can’t do it.

Your home is lost. Why? Because you didn’t take action to save it.

Although foreclosure may differ by state, this gives you a good idea of how foreclosure works--and how fast it can happen. HUD notes that a housing counselor could have helped even after the fourth missed payment. Doing nothing if you’re facing foreclosure is the worst possible thing you can do.

Doing nothing is not an option if you want to save your home. HUD advises that you be honest with your lender as soon as you suspect you’re in trouble. You can also contact HUD to find a housing counselor who can help. You don’t have to face foreclosure alone, please contact me if there’s anything I can do, I’m always available to assist with all your real estate questions, even difficult ones like this.

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There is more good Real Estate news for the Triangle Housing Market. Here are some of the statistics shared by way of Triangle Multiple Listing Service:

New listings are down from one year ago. A decrease in listings means the market is tightening up. Inventory levels are down. As more buyers go under contract, there is less inventory for buyers to choose from. Pending sales are up in the past 12 months. This is a continuing trend for 2012. As we move into spring and summer, I expect this to continue.

Median sales slightly increased. Closed sales in the past 12 months are up 3.8%. Days on the market are still up. What this means is that home prices are slowly starting to turn the corner, there is modest growth, and that sellers need to be patient when trying to sell their home.

As a real estate broker, I love to see lower inventory of homes because it means I am helping my buyer clients find great homes, as well as meeting our homeowner clients goals by helping their houses sell.

I love when the months supply of inventory goes down. It means real estate in Durham, Chapel Hill and the Triangle area is selling. If you are interested in buying a home or wondering what the value of your current home is, call me. It would be my pleasure to discuss our services with you.

Masha

Are you getting ready to sell your Chapel Hill home or maybe you've just bought a home that could use some updating? If you are updating your home for sale or just want to make your current kitchen more modern, changing or replacing the look of kitchen counters can make a big difference. If replacing the countertops are not in your budget you may want to consider countertop resurfacing. This is a much more economical and easier option for homeowners and can give you the same benefits without the cost and effort of a complete kitchen overhaul.

This is a much simpler process than completely replacing the counter tops because you will avoid the mess and time involved with removing and replacing them, not to mention you can save up to 70% off the cost of replacing your kitchen countertops. A refinished countertop is durable and can extend the useful life of your counters for 10-15 years or more with basic care and maintenance. 

The changing of the counter top surface can help to give your kitchen a fresh new, updated appearance that can help your home to sell. Homeowners have many options for materials, from simple laminates to granite and even 'faux' stone.

Kitchen countertops are an important part of a kitchen not only because of their functionality but it also sets the style. Kitchens are an important when selling your Chapel Hill home as buyers look for updated and functional kitchens that are move in ready. 

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Inman News ranked Raleigh-Cary housing first on the list of Real Estate Markets to watch in 2012. 

The News & Observer reported in March that home sales in February were the best they had been in 4 years! That's an increase of 35% from the same time last year.

Masha represents clients that are currently under contract on 2 properties selling at or above listing price. She is also under contract on 2 other homes where the list to sale ratio was 99%! Although, it's still a buyers market, the real estate market is more competitive than it has been in years. Right now interest rates are low. Whenever interest rates increase, the amount of money a buyer has to purchase a home decreases. Its a good time to speak with Masha if you are planning to buy real estate in Cary, Raleigh or the surrounding areas of Durham and Chapel Hill.

The Triangle area when compared with nationwide data of other metropolitan areas showed above average price appreciation, job market, home affordability, home sales, distressed sales and other factors. Raleigh-Cary was the only area in the top ten located in the southeast region of the country. The Triangle has consistently received good rankings. Forbes recently named Raleigh tops for Most Wired, Safest City and Best Place for Business and Careers. These rankings attract the interest of potential buyers from around the country.

If you are looking to buy in the Triangle area, give us a call! Masha Halpern & The Smart Move Team has been representing buyers and sellers in Chapel Hill, Carrboro, Hillsborough, Durham, Raleigh and Cary for more than 20 years! If purchasing also includes selling your current home, speak with Masha about the best way to manage both and give you the best service!

While you may love your fluffy, 4 legged members of your family, that doesn't mean that prospective buyers will too. Here are some tips for showing and selling your home when you have pets in residence.

1. Remove your pets from the home during showings – It’s unlikely that you will relocate your pets during the entire season your home is on the market, so at a minimum, make sure that they are not present during open houses or scheduled showings. Take them with you or drop them off at a friend’s house.
2. Completely remove litter boxes and dog potty pads - These items are unsightly and also have an odor, even if you are used to it. Try to avoid heavy air fresheners – they really serve to compound the problem. Make sure all pet areas are very clean and fresh, not fragrant.
3. Treat pet stains on carpets and furniture – If home remedies don’t work, have the floors and furniture professionally cleaned.
4. Replace carpets or furniture that can’t be cleaned – It may seem extreme, but if you are serious about selling your home, especially in a buyer’s market, you have to put your best foot forward. If you clean or replace items and they get damaged again, think about relocating your pets until you get the home sold.
5. Seal pet doors and pick up pet toys and food dishes – Don’t leave obvious signs of your pet’s habitation in plain view. Chances are that some clues will remain that you have animals, but try not to be too obvious with toys, beds and dishes scattered about.
6. Crate pets as a last resort – You may have no alternatives but to keep your pets in the home during showings – as a last resort, at least crate your animals and leave a note that they should not be disturbed.

Be understanding – not everyone loves to have animals in their home, and some people are allergic. Respect prospective buyers’ sensitivities by creating a neutral space where your pets and their food and accessories are not in the way of your buyers and agents.

Share any tips you may have for selling your Chapel Hill home with pets!

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Spring has made its way to Chapel Hill, North Carolina! Soon spring blossoms will usher away the winter cold, and now it is time to take care of a few important improvements around your home. The cold, harsh weather can damage your home, so below are some spring home improvement projects that can help to reduce the damage that cold weather brings!

• Repair storm doors and weatherstripping. Harsh winter temps and strong winds can take a toll on storm doors. Many times doors can become bent, broken or can pull away from the doorjamb. It is important to repair these damages as drafts can cause expensive energy losses.
• It is vital to have your air conditioner serviced before warm weather. Having a professional check the system and make sure it is in good running condition before you start it for the season can save money and headaches. Be sure to change your filters as well as a good furnace filter can help reduce allergens. When filters become clogged with dust, efficiency is reduced. Change filters quarterly or sooner if they look dirty.
• Clean gutters and downspouts. No one likes this chore but it is very important to make sure your gutters and downspouts are in good working condition before summer storms.
• It is important to repair any water damage that might have occurred during the winter. Damage can be repaired easily on the outside of the home by filling the area with an epoxy patch, rather than replacing the damaged area. For small areas that need repair, use a chisel to dislodge most of the loose, rotted wood. Drill a few 1/4-inch holes into the damaged wood. Soak the entire rotted area with liquid epoxy "consolidant" to transform the area into a sturdy base for filler. Let the wood absorb it for about 5 minutes, then reapply, wait, reapply, and continue until the wood ceases to accept consolidant.  

​For more info on how to spring-up your home and if you would like some expert help on selling it contact me today!

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