Real Estate Information

This article out of today’s (4/4/12) Wall Street Journal reporting that on average, renting is now more expensive than buying a home that's comparable! 15 % more! Wow! That's a change from what's been reported for the last few years! And a welcome one at that!

Rental increases are due to a lack of inventory of available rentals.  Lower home ownership costs are the result of lower home prices and low mortgage interest rates.  The following article identifies the high/low cities across the country.

http://online.wsj.com/article/SB10001424052702304750404577322011443831768.html

Im curious; what are  rental rates where you are? Do you ever wonder what it costs to rent vs own a home? Click here if you are curious to know what choices of homes for sale exist in Chapel Hill, Durham or surrounding communities?

​Often times when families move to new communities friends and family tell them "You should rent first, buy in a year or two." The advice is well-intentioned but it may not make financial sense- especially if you have a Realtor who can give you important data about communities  in Chapel Hill or communities in Durham, to help make the transition easier.  

The tax benefits are really something that homeowners benefit from- so from a financial tax standpoint, it can make sense to buy now. Your financial planner will be able to answer questions specific to your situation. Its worth considering a home in the Southern Part of Heaven! Masha Halpern will be delighted to speak with you about your specific relocation and home purchase or selling plans. ​877-478-4669 Direct Line.

While exciting, Real Estate transactions can be quite confusing.  It is a serious process that can take an ample amount of time and money to complete. When things seem too complicated it is a good idea to consider a real estate attorney. Below is some valuable information to help you decide whether or not you need to use a lawyer for your transaction.

How can an attorney help me?

A real estate attorney can offer many different services and some may specialize in certain areas but some general services that are typically offered are:

• Reviewing and outlining the real estate transaction process

• Reviewing any listing or agency agreements

• Drafting and reviewing real estate condition reports

• Drafting and reviewing residential offers to purchase and counter offers

• Assisting buyers and sellers through the property inspection and financing contingencies

• Working with title insurance companies and reviewing title insurance commitments

• Checking the settlement statement figures with you prior to closing

• Advising you at closing

There are always questions during this long involved purchasing process, therefore having an attorney available to answer your questions, big or small, will be an added bonus.

What are the costs involved?

The actual cost for an attorney varies by state and by amount of work required. Fee structures also vary (some lawyers charge by the hour, others by flat fee, some by both depending on the task.) but the typical range is $350-$1500.  While it is important to do your research and shop around for the attorney that best fits your budget, don’t let the price factor determine your decision. You may find the worst attorney that is the most expensive or you may find an excellent attorney that offer decent services at a fair price.

Where can I find a reputable attorney?

A good place to start in locating a real estate attorney is to ask for referrals from your local bar association, your real estate agent or your mortgage broker.  Word of mouth has great value as well; ask friends, colleagues and family whom they've had a good experience working with. The Internet is a valuable tool you can use to research also,locate an attorney in your area.

Many people find that purchasing or selling a Chapel Hill home is the most complicated and largest legal transaction they will make in a lifetime. Having your real estate attorney sitting right next to you to watch after your best interests will give a lot of stress relief during this sale time.

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Masha Halpern & TheSmartMoveTeam.com announce a fantastic new price on 309 Rossburn Way. Click here to see our virtual tour of this lovely 4 Bed 2.5 Bath home designed by Carol Ann Zinn, located in Chapel Hill School.

http://www.309rossburnway.com/

Its just a short distance to Carrboro High School and a lovely stroll to Culbreth Middle School. Featuring a kitchen the opens to a light filled breakfast room and adjacent family room- this is the heart of the house! Don't take a chance missing out on this great opportunity at an amazing new price of $429900. Call Masha at 919-414-0337 to see this home.

Now that spring is here, I read a great article in Kiplinger Finance that I wanted to share.

Take some time this spring to get your money matters in order by following these tips:

1. Toss unnecessary documents-Do this every year after you file your tax return. Click here to see what you should toss and what you should save.

2. Freshen up your insurance coverage.-If you're looking to cut costs, increase the deductibles on your car and homeowners policies. Ask your insurance agent about an umbrella policy.

3. Tidy up your credit report.-Once a year, you can request a free credit report at www.annualcreditreport.com. If you are planning on purchasing a home, it's important to check that your credit report is accurate and up to date. Errors on a credit report can hurt your ability to borrow money or get new credit.

4. Clean out your portfolio -Take a look at your investments. It may be time to sell some investments and purchase new ones. Evaluate your holdings. Don't forget to add to your IRA each year.

5. Plug leaks in your budget - When was the last time you tracked your expenses? Try using a budget worksheet to see how much you spend per month. It's the little charges that add up each month.

The above tips are something we should all do every year, especially if you are planning to buy a home.

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Masha Halpern has been an agent in Chapel Hill since 1992. Contact Masha at Masha@MashaHalpern.com or toll free at (877)478-4669 for all your real estate needs.

Our luxury home, listed by Masha Halpern, was featured on the  front page of Sunday's Real Estate Section of The Chapel Hill News.  We appreciate Sally Keeney taking the time to write a feature article about this breathtaking home.

The listing at 1200 Bayberry Drive in Chapel Hill is a modernized version of Frank Lloyd Wright's Prairie-style home. The homeowner and the builder (Jim Henry Builders) were both interviewed for the article. The front page of the Real Estate section features the master bathroom with cherry cabinets, a wall of glass block and a relaxing whirlpool tub. Page two showcases the dining room which offers magnificent views from large windows and glass doors that open to a wrap-around deck.

The Luxury Division of Masha Halpern & The Smart Move Team is excited to be listing this home. If you or anyone you know is interested in touring this property, www.1200BayberryDr.com, please contact Masha at your earliest convenience. You don't want to miss this house!

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Masha Halpern has been an agent in Chapel Hill since 1992. Contact Masha at Masha@MashaHalpern.com or toll free at (877)478-4669 for all your real estate needs.

The Triangle area, which includes Chapel Hill, Carrboro, Hillsborough, Durham, Morrisville, Cary, Raleigh and Apex has finally seen a big uptick compared with the same period a year ago. The housing market had its best February in four years as sales increased 35 percent compared with a year ago. This is great news for those already living in the Triangle as well as those looking to buy in the area.

The size of this increase has given us hope that the Triangle's economy is on the mend. As the economy improves, there is renewed confidence in the real estate market. The Triangle's housing inventory increased 3 percent from January to February. This makes sense. Traditionally, February is the time many people put their homes up for sale. Are you looking to sell your home?

For those interested in buying, it is still a buyer's market.  We are seeing more and more interested buyers because home prices and mortgage interest rates remain low.

The next few months are typically the strongest ones for home sales. If you are thinking of buying or selling your home, now is the time to call Masha Halpern & The Smart Move Team.

Happy Spring! 

Masha

Are you looking to buy or sell a Chapel Hill home? It will be necessary to have the property appraised. The value of the home is a major part in both the buying and selling process. The appraisal has a variety of purposes in a transaction for both the buyer and the seller.  By having an appraisal, it will protect all involved in the sale: the seller, the buyer, the lender and the insurance company.

Most lenders require an appraisal before any financing can be finalized.  So even if the buyer wants to waive the appraisal contingency due to finding a home they want where they have competition, they will still need the appraisal.

It is important to understand that waiving the appraisal can be a dangerous way to purchase a home.  Buyers can lose some of their earnest money if the appraisal does not come in high enough for them to secure financing. Sellers can demand that some of the earnest money be used to compensate them for money lost due to financial losses as well as having to put the property back on the market because the buyer wrote a contract they can’t fulfill.

If you are buying a North Carolina home, it is very important to think it through. You wouldn’t purchase a car without knowing the true value of the vehicle. Purchasing a home should be held to even higher standards, and if you don’t follow these standard practices, it could cost you thousands of dollars.

Contact me today if you are interested in buying a Chapel Hill, NC home!

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Whether you are ready to buy a Chapel Hill home or sell your current house, the best tool you can have is knowledge of the current trends! It's helpful when you considering a new home or if you are ready to sell your current home at the best price!

Quality More Prized Than Size

It's no secret that the the nation is recovering from a troubled economy. The home size has trended downward for the first time in three decades and Americans have shifted their priorities when home shopping.  Most have adopted a longer-term perspective, as homes that are smaller in scale are generally more affordable to maintain over time and have less impact on the environment. However, they are not necessarily less expensive to purchase if they are situated in a prime location and include more high-end features.

Findings of the American Institute of Architects (AIA) Home Design Trends Survey suggests that home buyers and renovating homeowners alike are choosing efficient floor plans with less square footage so that they can still indulge their tastes for quality details, upgraded features and a higher degree of personalization. This key consumer survey also captured the following trends in the home marketplace in vivid detail.

New Priorities Trump Old Rules

The prevalence of non-traditional, open layouts with spacious kitchen and family room areas continues. Today’s Chapel Hill, NC homeowners are looking for ways to maximize the square footage of their homes, so larger, more gathering-friendly casual spaces are often replacing rarely-used formal living and dining rooms.

Options Create Opportunities

Many builders have incorporated flexible spaces that give buyers more option to dedicate a room to meet their specific needs and preferences or to serve multiple purposes. For example, a formal dining room calls for a chandelier and open access, whereas double doors and built-ins can easily create a private home office or library in the same space. It is now also more common for the owners of older homes to alter their floor plans to work better with the way they live.

Focus on Accessibility, Practicality, and Storage

A growing number of aging baby boomers drives the preference for one-level or two-story designs with the master bedroom downstairs. Storage features such as large closets and rooms with built-in shelves and cabinets maximize the use of space in a smaller footprint.

Embracing the “Outdoor Room”

Homeowners are enhancing their properties by blending indoor and outdoor living areas that are suitable for entertaining family and friends. Decks, patios and porches are more popular than ever and are often furnished comfortably and decorated to coordinate with the home’s interior spaces.

Homes Grow Greener

Consumers spend about an average of $1,900 each year on utility bills, so a desire to trim the household budget often goes hand-in-hand with a homeowner’s investment in upgrades that increase energy efficiency or water conservation. In many cases, these improvements pay for themselves with savings over time. Some of the most common features built into new homes and retrofitted into older ones include:
• Insulated exterior doors
• Low-emissivity (low-e) windows
• Energy-efficient appliances, lighting and HVAC systems
• Programmable thermostats
• Tankless water heaters
• Solar panels
• Extra insulation
• Water-saving plumbing fixtures and appliances

Work at Home Means Less Play

A growing percentage of Americans are making their living at home. Many corporate employees work remotely at least once a month, and more than half of all small businesses are now home-based. Functional spaces that promote organization, concentration and productivity have become a top priority in many households, while guest suites, mud rooms, and game rooms have declined in popularity.

Surveys across the nation are showing the homeowners are most interested in having functional spaces that are thoughtfully designed for their unique needs that cost less to maintain over time.

Ready to buy a Chapel Hill home - contact me today! I would love an opportunity to help you in your search!

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