12 Hour Sale

12 Hour Sale

We know it sounds like something that your local home improvement store would tout, but we're not talking about that kind of sale. Our office was all abuzz recently over a Carrboro house that went on the market...and sold in only twelve hours! While sales aren't usually that dramatic, we are seeing lots of homes in Carrboro and Chapel Hill that go on the market, and then quickly receive multiple offers. Some even end up being sold above the asking price! The key remains, however, in ... [Read more...]

Wanted: One Level Homes

Wanted: One Level Homes

When the ranch house made its debut, it was the style to have everything on one floor. Trends changed, however. Ranch gave way to split levels, and then two and even three story homes became all the rage. Many ranch homes are on large lots. As land became more expensive, it was cheaper to build up rather than out. If you are in the market to sell your ranch home, you may be tempted to feel it's a bit passe. But a single level home has a lot to offer, and more and more people are searching for ... [Read more...]

Sellers are Bullish on Durham

Sellers are Bullish on Durham

This month, the average median sales price of a home in Durham is higher than its ever been.* Despite this trend, homes are selling quickly, at top dollar, often with multiple offers. Over the past five years, sales prices have gone up almost 10%. and the forecast is looking like prices will continue to rise. The bottom line...it's really looking a sellers market. Sellers beware. But don't rest on your laurels, sellers. With the higher prices, buyers are expecting to get their money's worth. ... [Read more...]

Real Estate and Hotel Beds

Real Estate and Hotel Beds

Did you know that there will be 445 new hotel rooms in Durham this year? We already have a brand new 21c Museum Hotel here - that combination of boutique, art museum, restaurant, and hotel that is just plain upscale FUN. (Just wait until you see the bathrooms!) You'll get such a kick out of the public bathrooms! An increase in hotel beds is an indicator of good economic growth. Hoteliers go where they predict a lot of conventions and business travel. And with DPAC, the convention center, new ... [Read more...]

Toilet Talk and Why it Matters

Toilet Talk and Why it Matters

Raleigh/Durham is flush with residential toilets, ranking third in the United States, according to recent research that ranked cities across the country by the number of residential toilets per 100 people. Raleigh/Durham boasts 98 toilets per 100 people; now you know. Results were reached by a Seattle-based real estate brokerage and blog Redfin by using U.S. census and housing data. (Evidently,they’re a whiz at paperwork!) Potty humor aside, REALTOR®s know that bathrooms are a serious ... [Read more...]

Working to Satisfy Two Types of Investors

Working to Satisfy Two Types of Investors

I realize that individual investors are very...individual; however, I've noticed that real estate investors are interested in one of either two distinct approaches: 1. Buy, renovate and hold. 2. Buy, renovate and flip. These two types of investors have the same important decision to make: where's the best location? For investors who want to hold onto a property, they want to make sure they can rent and then sell later on. Investors who want to flip a property also are looking for ... [Read more...]

What’s the Difference Between Pre-Qualification and Pre-Approval

What’s the Difference Between Pre-Qualification and Pre-Approval

Before you search for a house, you have to know what you can afford. To qualify for a loan, you must make enough money to make the payments. Mortgage calculators can give you a basic idea. Lenders can give you more specifics. A lender can pre-qualify you for a loan by checking your credit score and asking you a series of questions. But a pre-qualification has no weight when it comes down to getting approved for a loan. For that, you need to be pre-approved. For pre-approval, you complete a ... [Read more...]

Why Grad Students Should Buy Instead of Rent

Why Grad Students Should Buy Instead of Rent

There are two things on the mind of most graduate students - studying and money. I can't help with studying, but a great way to save money and build equity when you are in graduate or medical school at UNC or Duke is by buying a home in the Chapel Hill or downtown Durham areas. Here are five advantages of buying a home while in graduated school: 1. Instead of building your landlord's equity, you are building your own. Instead of paying down your landlord's mortgage, you are paying down ... [Read more...]

A Tale of Two Investors

A Tale of Two Investors

MLS can be a great tool if you want to browse properties, but if you’re serious about investing, you might miss something without an agent as your advocate. Here are a couple cases in point: 1. Jumping Jehosophat! OR Jump-on-it Investor. This house was located ideally in a very desirable area on Elizabeth Street in Durham, near downtown. An investor/agent friend of mine told me he had a bunch of properties that he was trying to sell, and asked if I had any investors. Since it wasn’t even on ... [Read more...]

Kid Friendly Chapel Hill

Kid Friendly Chapel Hill

Chapel Hill has a reputation for being a hip college town, but that is only one side of the great character of this city. Parents and kids alike love the fun activities available for the whole family, so we have collected a list of some of the hottest kid friendly places in Chapel Hill! 1. The Loop Pizza Grill. Chapel Hill is loaded with kid friendly restaurants that offer great deals for family dining. In fact it was hard to pick just one! But we went with a universal favorite that we knew ... [Read more...]