Are you sitting on a large holiday bonus? Have you had a windfall financially and are considering paying off your mortgage early? This is a common question our clients ask us and many are often a little surprised to hear us tell them that it isn't always the best idea and that depending on a variety of individual factors it may not be in their best interest to focus exclusively on paying off their mortgage. There are a number of consideration when considering whether you should pay off your mortgage particuarly if they have other debts besides their mortgage.

Considerations

Prepayment Penalties

Did you know you can be penalized for prepayment? Lenders count on the interest of your loan, so paying off early to save on the interest may require…

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Are you superstitious? Do you abide by rituals or are you more likely to review your progress and start different practices based on seasonal recommendations, in the New Year? In the South and in the United States, there are so many superstitions and rituals around all things, including the New Year and moving. If you prepared black-eyed peas and greens, you know what we are talking about! There are other really fun traditions and superstitions for real estate based on Native American practices, pagan traditions borrowed from Europe, and Eastern religions. Here are some of the traditions, superstitions, and rituals related to real estate we've encountered throughout the years.

Ringing a Bell

Ring a bell in your new home to summon good fortune,…

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It occurred to us as we head into the holiday season, that our recent market coverage content is similar to A Christmas Carol by Charles Dickens. A cautionary tale for the Seller waiting for prices to rise another 15-20%. While home prices continue trending upwards right now, they are decelerating or slowing as the Fed has made it clear that it intends to raise interest rates in the next few months. For those looking to sell their home and buy another, sooner may be better than later before rates start to increase. But you do not have to take our word for it. This week, we assembled the top real estate expert predictions for the housing market in 2022.

In our research we came across a wide array of “expert” opinions on the real estate market. Which…

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It's getting to that time of year when before many of us hit pause on work and start our holidays. Many of us will be hosting family and are looking for extra special events to celebrate the holidays. The Triangle has some absolutely fantastic events that showcase some of the top communities that we service. If you are looking for a new home on The Triangle, attending one of these events is a great way to see the community. Then you can reach out to us! Happy Holidays from My NC Homes!

Carolina Ballet presents The Nutcracker

Dec. 17-24

Nothing says the holidays for many of us, like getting dressed up and going to see The Nutcracker. Carolina Ballet's holiday classic is the only production in the country using illusions created by the magician…

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The past two years have presented a number of unpredictable conditions for the housing market, confounding experts, and novice housing observers. What do you get when you add global supply shortages, labor shortages, a rapid shift in buyer preferences, to a housing market in short supply? Moreover, what also should we expect with regard to inflation and mortgage rates? Is the recent surge in demand and pricing indicative of a boom or are we in for a big bust? Should I buy or sell right now or wait this out? In this Blog, we are going to take a look at the past to give insight to the current housing market. Be sure to check out the link below to last weeks Blog to see what we believe the future holds for home prices here in the Triangle

What are…

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We are seeing home after home sell quickly to buyers making offers well over the asking price, often without contingencies, and with great terms for our Sellers. Buyers continue going to great lengths to ensure that their offer is sufficient to win in multiple offer situations; or are buying new construction homes, depsite the lack of flexibilty that builders are offering and the uncertainty of delivery date due to supply side issues. From 2020 on we have seen month after month of price increases which begs the question, will we have an adjustment in The Triangle and if so; what will it look like. We have compiled information from the leading sources on inflation, mortgage rates, and what the market did in October to help explain prices. Let’s look at…

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As we head into the holidays, we are still seeing strong buyer demand and while typically this isn't a time sellers flood the market with listing, there are still sellers listing to take advantage of the market conditions. For those of our readers who do not follow our blog regularly, in 2021, and more specifically the latter half of the year, mortgage rates fell below 4% and remain there. As we approach 2022, rates are rising and buyers need to be serious about taking advantage if this climate if they are looking to finance their home. Sellers who are coming to the market are well aware that they have leverage. BUT, and this is the big BUT, sellers cannot ask way above the asking price and expect their home to sell. In this post we will discuss…

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The real estate market right now in The Research Triangle is at an incredibly limited supply, but not every home is getting huge margins above the market value. If you have been considering selling your home and have had discussions with friends, family, or realtors, who suggest you can get way above market value, they may not be the best authorities on what is really selling above value and what is still selling at value. Real estate, like fashion, is subject to some trends, and what buyers look for changes depending on a number of factors. Most notably is our new hybrid lifestyle with a lot more time at home. Here are some of the things that are on today's buyer wishlist. If you want to know if your home is what buyers want, you will find it below

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Many of our new home buyers in Raleigh Durham as well as some of our existing clients ask us about home equity. What is it? How do I build it? Can I use it for buying a new home? And more. Most of our younger generations consider cryptocurrencies as more solid wealth generators than home equity, but investing in housing is one of the most stable investments, definitely more stable than the latest coin. It is surprising how poor most people's understanding is of home equity when it is one of the most reliable ways to build wealth. We are going to give you a quick course on how to build wealth using home equity and how you can use existing home equity to your financial advantage.

What is Home Equity?

What is equity? Home equity is the percentage…

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It is a glorious fall in The Triangle and as the leaves and temperatures are falling, you will need to do some seasonal maintenance to ensure your home is prepared. These tips save money and keep your home in good condition. An ounce of prevention is worth a pound of cure, as the saying goes and this is really with home maintenance. If you are considering selling this winter or fall, these will also need to be on your checklist. Looking for a specialist to help you maintain your home, work on the gutters, or check your roof? Please reach out! We have excellent home maintenance partners.

Get your Mind on Your Gutters!

Your gutters play a critical role in your home by diverting thousands of gallons of water annually off of your home. They drain…

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