Spring Fever: Real Estate Tips For Buyers & Sellers This Spring
Posted by Larry Tollen on
Sales all awaken from their winter hibernation period and for those of us in the business it’s time to Rock and Roll.
It’s the time that I and other top selling agents are working 10-14 hours a day getting homes ready for market and listed. Meeting dozens of new buyers to find out more about what their ideally looking for and taking them out to show them homes. Negotiating deals and of course swimming in paperwork. In short; it’s another Spring Market here in Chapel Hill / Durham / Raleigh NC.
2014 is off to a strong start and I’m writing this article in order to share some insights designed to help Buyers and Sellers successfully purchase (or sell) the home they want.
As a top producing Realtor with nearly 25 years and roughly 1000 successfully…
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In most parts of the country real estate sales having been strong and here in the Research Triangle (Chapel Hill- Durham- Raleigh North Carolina) this is certainly the case. Throughout 2013 active inventory on the market for sale has been low; hovering at about 2-3 months worth clearly indicating a market favoring Sellers. {Note: 6 months of inventory is considered a neutral or balanced market; less than this favors sellers; while more than this favors Buyers} Looking ahead into 2014, I see nothing that's likely to change, available inventory will likely remain low. Mortgage interest rates continue to be close to all time lows and while their likely to come up some from where they are now they will still be extremely affordable. It's true that getting a…
At any given time I'm always working with a handful of investors, most of whom have experience and who have very specific criteria for me to work with. In most cases these clients are looking to exchange a lump sum of money for a rental income cash-flow. Because of that, I've put together: A Beginners Guide to Investing in Real Estate for those buyers in the Durham, Hillsborough, Carrboro, Chapel Hill market.
How to Find The Perfect Neighborhood
As a Realtor actively engaged on the Internet I regularly see Sellers and Buyers asking questions about getting rebates from their agent, looking for someone who will simply post their home in their local MLS, and in general seeking a Realtor who will discount their services. Home Buyers should think carefully before using a Discount Buyer Broker.
One of the most common terms I see negotiated in contracts for a home in Durham today is for the seller to contribute money to the Buyer to cover all, or part of the Buyer’s Closing Costs. Seller paid closing costs can, with certain limits, be paid by the seller to the buyer without any problems…if you know the rules. Ignorance of the Underwriting Guidelines for the program and Bank that the Buyer is applying for a mortgage from, can turn a seller contribution of closing costs into a real problem!