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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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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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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Remote work can seem like a dream or make your home feel like a cage, depending on your home office setup. In the past year we have seen many businesses decide to move offices permanently remote or implement hybrid work options. Why? Remote work is not only preferred by many workers who save an average of $2,000-$5,000 and it is also cost-effective for businesses who save an average of $22,000 per employee. As home work is here to stay, we are also seeing work from home preferences change for buyers, and seeing more buyers come to The Triangle because of hybrid work opportunities. If you are a seller looking to make your home more desirable for the home office hybrid worker or you are just looking for a more exciting home office, here is our…

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May Day May Day!!!! The inspection report is back and it lists dozens and dozens of "defects", what can I do!! Receiving the inspection report can feel like a personal affront. My NC Homes has talked hundreds of buyers and sellers off a ledge and helped them understand what the inspection reports are saying and their implications. Below we dive into what they include and do not include and when panic, is warranted. Remember, homeowners who are considering selling in the future can reach out to My NC Homes for a referral for inspection companies prior to listing.

What is a home inspection report?

A home inspection report is supposed to be an objective document provided after an evaluation by a qualified home inspector. It should include…

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There is non stop press coverage questions whether there is a bubble in the real estate market, discussing the severe lack of inventory, timber shortages, labor shortages, and more, but how does all of that really affect affordability? Can you guess the last time homes were this affordable in The Triangle? Are you under the impression that homes are overpriced right now? Homes are more affordable now than they have been since 2016. Let's dive into some statistics on the affordability of home buying, RIGHT NOW in The Triangle.

Home prices are appreciating and prices have been steadily, arguably rapidly; rising in nearly all domestic markets. When we hear prices are going up, we immediately think houses are becoming unaffordable and as Realtors, we…

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