Many real estate contracts these days contain “as is” clauses. The term “as is” is a signal that the seller makes no warranty as to the condition of the property and intends to make no repairs to the property prior to or after closing. It also often means that the seller will give no credits against the price for needed repairs. Foreclosure sales are almost always “as is” sales, since the banks that own the homes don’t want to put any more money into the properties. While I generally don’t recommend foreclosure deals, as-is property can be a good deal at the right price point if the buyer has sufficient cash reserves and/or the ability to handle any needed repairs.

Pros and Cons of Selling “As Is”

Why would you want to sell your house “as is”? You

Housing options for older adults are plentiful these days, thanks in part to a number of advances in technology. The aging population has created a huge swell in demand for universal design. Contrary to popular belief, accessible homes are not just for handicapped or disabled individuals. Newer construction is trending toward greater flexibility and adaptability.

Your home should not only be an enjoyable place to live, but also a comfortable place for your family and guests. There is a broad spectrum of housing types designed to accommodate different stages of life. There are much better options for aging adults today than there were 20 and 30 years ago. Senior citizens now have the ability to retain greater autonomy and independence while enjoying

How much should you set aside for home repairs? Most experts recommend setting aside anywhere from 1% to 3% of the purchase price of your home each year to cover maintenance. Keep in mind that a home is a long-term purchase, and these annual reserve figures represent an average. Therefore, for example, if you set aside 3% of the purchase price of your home during the first year and you don’t end up using much of the money, you would be wise to continue setting aside the same amount in subsequent years. Many home repairs are expensive and can come as a nasty surprise if you haven’t prepared yourself financially. Any homeowner who has ever had to replace a roof can attest to this!

Variables That Factor Into Estimating Home Maintainence

Exactly how

Should you sell your home or rent it out? This is a question you may be considering if you need to move out of your home. As always, there are pros and cons to both options. Here are some of the factors that you’ll need to weigh as you consider your decision.

The Real Estate Market

Should You Sell Your Home or Rent it Out | My NC Homes | Chapel Hill Durham NCRight now, market conditions are much more favorable for both sellers and landlords than they were two years ago. Home inventories are low in relation to the number of buyers, and rental demand is also on the rise. The Raleigh area is experiencing aggressive growth that is expected to continue for some time. However, these are general statements about the region at large. You will need to make

Forest Hills is a historic neighborhood in Durham, with buildings dating as far back as 1923. The Forest Hills Historic district was added to the National Register of Historic Places on December 28, 2005. Durham architect George Watts Carr (1893-1975) and his firm designed many of the early structures.

One of the more charming elements of Durham that I’ve grown to love since moving to this area is the fact that you can enjoy quiet country living without sacrificing any of the amenities of living near a city. Durham and Chapel Hill both have a vibrant and dynamic energy, being located in a thriving economic area near a major university and replete with beautiful parks and hiking trails.

Look and Feel Of Historic Forest Hills

A lot of the

Here are six myths and urban legends about buying and selling a home. We hear these from buyers and sellers every now and then.

Myth: New construction always has fewer problems than older construction.

If only this were true. Unfortunately, not all home builders are created equal. Structural and foundation issues due to the surrounding landscape can start the day a new home is built. If you buy from a reputable builder, you can reasonably expect to get a home with few or no issues. However, there are bad builders out there and construction companies that will cut corners on quality due to tight deadlines and financial problems. Regulatory building inspectors only check for compliance with applicable codes; they don’t assure construction quality.

Rent-to-own is never a good deal. It’s a lose-lose proposition for a buyer. In the 35 years that I’ve been in real estate, I’ve never met a single person who purchased a property in this fashion and had a positive outcome. While, in theory, it might sound like a reasonable idea for someone who is not yet in the position to buy a home and needs a year or two to build a good credit rating, in reality it simply does not work this way. These deals are usually predatory and designed to take advantage of tenants who have limited options due to their financial situation—and who will agree to unfavorable terms because they don’t know any better. In our experience, there are only two reasons why sellers pursue rent-to-own deals.

The Location is Unattractive

Chapel Hill based real estate agent Larry Tollen has recently received two noteworthy distinctions for professionalism and customer service. Larry has been selected for the Angie’s List Super Service award for 2014—the second year in a row. Trulia has also recognized him for reaching a performance level that places him in the top 1% of real estate agents in the nation.

“It’s easy to get caught up in the day to day grind of running a business, but moments like these are a great opportunity to take a step back and see how far we’ve come along,” says Larry. “The team has put in a lot of long days over the past few years, but everyone’s efforts are really paying off. The future is looking very bright.”

Larry Tollen and his partner, Andrew Palumbo,

Here are 10 famous people from North Carolina. How many of these did you know about?

John Coltrane (1926 – 1967)

The famous saxophonist was born in Hamlet and grew up in High Point, where he lived until shortly after he graduated from high school (source: High Point Museum).

Charlie Daniels (born 1936)

Singer-songwriter Charlie Daniels was born in Wilmington in a family that raised tobacco. Throughout his childhood, he traveled with his family throughout the Southeast. In the early years of his band, he found work playing in local clubs in Jacksonville, NC. (Source: NCpedia.org)

Clay Aiken (born 1978)

American Idol runner-up and Congressional candidate Clay Aiken grew up in Raleigh and studied at UNC-Charlotte (source: ClayAiken.com).

Here’s what you should know about buying new construction. New homes have a lot of advantages, but there are trade-offs. As with any major purchasing decision, you really need to consider your personal priorities and think about your long-term plans for the home. Be sure to discuss the pros and cons with a neutral third party such as your buyer’s agent. An on-site agent works directly for the builder—and while they are very knowledgeable, they should not be considered an unbiased source of information.

In general, when you buy new construction, you get the most modern design and fixtures with a contemporary style. If you purchase from a solid builder, you can reasonably expect lower maintenance costs—and new homes often come with extended warranties.