Yesterday, I heard Oprah say “What a week!” And I thought, “how did she know it has been one of the best weeks I have ever had?”
Of course, she was talking about the historical election in which America voted for its first African-American president. What a week it was for our country, but what a week it was for me personally.
I touched Donnie Wahlberg and 5 days later Obama gets elected? Whoa! Obviously, one has more significance than the other. I’ll let you decide which one. I am overwhelmed by both.
Let me explain. As a pre-teen, I spent an exorbitant amount of time trying to get close to The New Kids on the Block. My family and I, along with a childhood friend, traveled the southeast in hopes of catching them outside a hotel somewhere. We came close many times and got some great pictures. My brother, the lone “boy” in the crowd, even got on Donnie Wahlberg’s bus once. I remember it like it was yesterday. He was dressed like Donnie and Donnie pointed at him and told him to get on the bus. He came back with Donnie’s prized “Drugs Suck” t-shirt, a Hi-C (which he drank on the bus), and an autograph. My brother was sweet enough to keep the pen Donnie used and packaged it for me, with the date on it. I still have it in a special place in my home now. I’m not sure what happened to the autograph and I’m pretty sure my brother destroyed the t-shirt when he realized maybe drugs didn’t “suck” as much as Donnie had advertised.
So last week, I got my chance. I went to the New Kids reunion concert with that same childhood friend who’d devoted so much of her time to this pointless endeavor with me in middle school. We had the worst seats a person could possibly get. So, a lady who worked at the arena asked us if we wanted to sit closer. We couldn’t pass that up. We took the tickets and exchanged our crappy ones and headed for– the floor! We were just 50 yards away from our dream. That made us happy. Then, in the middle of the concert, a security guard told us to move. I was a little annoyed at first, thinking we were getting kicked out of our awesome new seats. But minutes later, here they come– Danny first. Oh boy, that’s not really the one we want to get close to, but he’ll do. Then Jon. Nah. Then– Joe, Jordan and Donnie? What? Our eyes lit up and the flashes started going off. They did three songs, right before our eyes. Then, we lifted up our hands and Donnie touched mine. My friend touched three of the “kids,” I think. And honestly, I don’t remember much after that.
Needless to say, my husband wasn’t as excited as I was, but I don’t think he understands what this means. I was 12 again! And 20 years of a lost cause became a reality. I could have paid to meet Jordan once when he was playing bars as a solo act, but I thought it was too expensive. In hindsight, I realize how much happiness $40 can buy.
What a week, indeed. My close encounter with my childhood imaginary boyfriends was priceless, as was the most historic election I may ever see. Dream on. Dream on.
When we watch or read local news, it seems we only find reasons to be depressed, but I need to find the news that backs up what I’m seeing in my own personal business. Um, it’s “busy.” So, I’m going to post every story I find that verifies what I’ve been saying all along, “Now is a great time to buy or sell a house in Raleigh.” Today, I’m sharing this article from builderonline.com. Enjoy and happy house hunting!
So some potentially skewed unemployment numbers for North Carolina are out. Don’t get down- check out all the ”accolades” Wake County has received lately. It’s true- it’s a great place to live, work, and buy real estate!
Mortgage rates are at a 52 year low according to CNN Money. I can get you in touch with a loan officer today. Whether you are buying your first home, moving up or moving down, it doesn’t come any cheaper to borrow money than it does right now!
So I am now on Twitter. I know, I know… it took a while. I think I’ve got it under control, sort of. I have added some updates, but I’m still not sure if I want all that stuff coming through my phone yet. I’m quite proud of myself for learning so much about technology over the last year. My home computer could use a little TLC, but I’m getting the hang of this. Yes- I am a young person who let this all pass me by for a while. This is the new me. I have a smart phone, can update my website for the most part and now I’m a Twitter-er… or something like that. Follow me at: http://twitter.com/CarrieSurti
Green Spring Cleaning Tips- LiveEarth.org Spring has sprung in the North! This is the perfect time to start organizing and scrubbing down your home from top to bottom with some green spring cleaning. Small changes to green your cleaning techniques will have an impact on your health and the environment that can really add up over time. Here are a few tips to help you get all your spring cleaning done the green way: Use Natural Air Fresheners To really freshen up a room invest in houseplants. They will give off a natural, beautiful scent and absorb pollutants, unlike synthetic air fresheners. Make Your Own Natural Cleaning Products Spray distilled white vinegar on glass windows to make them sparkle. Hang Dry Your Laundry Save energy and let your clothes dry naturally. Stay green every step of the way and install a clothesline in your backyard, or look for a retractable clothesline. The sun is a natural brightener so consider hanging up your “whites” the sun will whiten them naturally. Ditch the Paper Towels Save trees and landfill waste. Use washable cleaning and dusting cloths or give an old piece of cloth a new life. Donate Go through what you have and do not plan to use. Once you’ve taken stock of what you can use, separate out items that someone else might need. (This includes dishes, kitchen gadgets, clothes, books, toys.) Just drop it all off at your local Goodwill or Salvation Army and they will find a second life with someone else. (Drop Your Items off at the Kildaire office Spring Cleaning Event- Sat. April 25th) Paint Your Walls Green If spring cleaning at your house means a fresh coat of paint, be sure to check the VOC (Volatile Organic Compounds) content of the paint when selecting your paint and color. VOCs form vapors at room temperature and can be harmful to the air you breath daily. Invest in Green Appliances When it’s time to replace your appliances, choose greener alternatives. There are great bagless vacuum cleaner (like the Dyson, which also uses less power). Also make sure all your new appliances are Energy Star certified. Seal Up Leaks Caulk any leaks or cracks in the your walls and windows. Grab a caulk gun and seal up with some waterproof caulk. It is nearly invisible when in place and removes easily without damaging paint. Save money and energy!
1. If you or a spouse has not owned a home in the last years, you qualify for an $8000 tax credit. If you do not owe any taxes at the end of the year- this is $8000 additional you will be refunded. Quite a bonus!
2. You have to pay to live somewhere. You may be able to find a home where the mortgage is comparable to your rent now.
3. There is some 100% financing available. FHA loans are most common for first-time homebuyers. With an FHA loan, you only need 3.5% down on a home. You can get that down payment from a family member if you need to.
4. Interest rates are the lowest they have been in decades. Borrowing money may never be as inexpensive as it is right now.
5. Instead of throwing your money away every month, you can own your own home. Right now, there are deals that offer instant equity. if you are going to live in the home more than 2 years and you are putting money down, you will probably also gain equity.
Contact me today for more information regarding the tax credit, financing and what’s available to you!
We already knew Raleigh’s housing market was stable and according to USA Today things are looking up for the rest of the country- which only means even better things for the Triangle area. Check it out:
So the FHA now says it will allow first-time homebuyers to use the $8000 tax credit as a down payment… up front… without having to wait to file. We are still awaiting more information on how this will be done exactly, but it’s very exciting news for those who thought they would never have the money to won their own home. Talk about another reason to buy vs. rent! Wow! I will keep you posted on all the details as they come out. In the meantime, check out this article from the National Association of Homebuilders.
According to the article below from Triangle Business Journal and new data from the Triangle MLS… we are down to a 7.5 month supply of homes in the Triangle. That number has been cut in half over the last several months! This is great news for the future of our housing market!
The number of Triangle homes sold in April was down year over year, but new data from the Triangle Multiple Listing Service show a couple of welcome trends.
First, while the 1,623 homes sold last month represented a 30 percent drop from the 2,324 sold in April 2008, it is the highest monthly total posted in six months.
Even better, the number of houses on the market represented a 7.5 month supply, down almost half from a high of 14.9 months in November. April 2008 featured a 6.9 month supply.
The median price for houses sold in April dipped 4 percent, to $177,600, from $184,922 in the same month last year. While a negative number, it’s still much better than the double-digit declines seen across much of the U.S.
The MLS figures, which are supplied by Stacey Anfindsen of research company Metrostudy, cover the Raleigh-Cary and Durham metropolitan areas. The numbers also are broken down by county.
• In Wake County, the number of homes sold dropped 35 percent, to 862. The inventory for sale represented a 7.3-month supply, up from 6.3 a year ago. The median price fell 2.5 percent, to $195,000.
• In Durham County, the number of homes sold slipped 20 percent, to 245. The inventory for sale represented a 4.9-month supply, down from 5.2 a year ago. The median price rose 3 percent to $170,000.
• In Orange County, the number of homes sold plunged 48 percent, to 57. The inventory for sale represented a 6.5-month supply, up from 5.9 a year ago. The median price fell 11 percent to $258,000.
• In Johnston County, the number of homes sold dips 22 percent, to 173. The inventory for sale represented a 8.9-month supply, up from 8.1 a year ago. The median price fell 5.6 percent, to $150,100.
Where’s the number one place to relocate? The Raleigh area! Another accolade from Forbes magazine. Check out the link below for more details. What a great place to live and work!
The FHA this week reversed its decision to allow first time homebuyers to use the $8000 tax credit as a down payment, saying it resembles the now illegal down payment assistance programs. Some say the government will find a way to circumvent the new rules, but for now, the $8000 dollars can only be given as a tax credit.
You can, however, borrow the money from a family member in order to close and then pay them back with your refund.
Down payment assitance programs are no more and most 100% financing has gone away. I say “most”- because there are still ways that you can get in a home with no money down. The main way is to get a USDA loan. The specific property has to be in a USDA eligible area and you can check an address’s eligibility at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
Also- there are some builders who are offering 100% financing if you go through their preferred lender. Many of these builders and lenders are also paying closing costs. Of course, you still have to have decent credit to do either.
There are also a lot of grants available for those with qualifying incomes.
Even if you don’t think you have good credit, it’s always a good idea to check with a lender. It might be better than you think or you might be able to clean it up fairly quickly. And, if you didn’t think you didn’t have enough money to get into a home right- maybe you do! If you are a first-time homebuyer don’t forget that $8000 tax credit, which could soon be used to pay for closing costs as well.
Bottom line- if you want to own your own home- pick up the phone and call me today and let’s figure out how to get there! I have helped several clients this year who thought they wouldn’t be able to do it. My number is 919-389-6676!
Expert: Recession Over, Slow Recovery Ahead UNC Charlotte expert says the official ruling may be two years away, and that N.C.’s recovery will be slow, but the recession likely ended this spring. I think we’ve already noticed this with stabilizing house prices and interest rates going up. So as I’ve said before- you never know you’ve hit the bottom until you look back and realize it’s gone. For those of you who took advantage of the market when it was down- good for you. For those of you who didn’t- there’s still some time, but get on it before the buyer’s market and incentives go away. See the article below from the Charlotte Observer for more details!
By Jefferson George
jgeorge@charlotteobserver.com
Posted: Wednesday, Jun. 03, 2009
The forecast of 123,500 job losses this year by UNC Charlotte’s John Connaughton is more than double the 58,200 lost jobs estimated three months ago, and it comes after the state lost more than 120,000 jobs in 2008.
The biggest declines this year will come in construction at 18.9 percent, durable goods manufacturing at 17 percent and nondurable goods manufacturing at 9 percent. The only sector expected to have any job growth is government, at 2.5 percent.
An official ruling won’t come for a couple of years, but the recession likely ended this spring, a UNC Charlotte economist said Tuesday.
Even so, North Carolina’s economic recovery will be slow, with unemployment remaining in double digits the rest of this year, said John Connaughton, author of the quarterly UNC Charlotte economic forecast.
And despite positive signs this quarter, such as a boost in corporate profits and improved consumer confidence, it’s unclear what the state economy will look like when it ultimately does recover, Connaughton told about 50 people at UNC Charlotte’s uptown campus. The forecast has studied state economic conditions since 1981.
North Carolina is expected to lose 123,500 jobs this year, but about 112,000 of those losses came in the first four months of 2009, Connaughton said. “That’s the good news,” he said.
Between the slowdown in job losses and gains in other indicators, the recession likely ended in April or May, Connaughton said. The official ruling, however, will come from the National Bureau of Economic Research, a nonprofit research organization founded in 1920. The group in late November determined that the current recession began in December 2007, and Connaughton said the bureau usually doesn’t call the end of a recession until 23 months afterward.
“We won’t know for two years if we’re right” on the recession being over, Connaughton said. “They aren’t interested in being that timely. They’re interested in being accurate.”
Regardless, the recovery in the second half of this year will be very weak, according to the UNC Charlotte forecast.
“While the economic decline is over,” the report read, “the prospect for economic growth is dim.” The N.C. economy is expected to decline 1.8 percent this year before growing by 1.9 percent next year.
Another economist who tracks regional trends, Mark Vitner of Wachovia, told a separate group Tuesday that he thinks the recession will end in October, but that “it still will be a difficult economy” for several reasons.
Unemployment will remain high, especially as severance packages from layoffs expire, Vitner said at a small-business resources event sponsored by the city of Charlotte. While layoffs are abating, hiring isn’t expected to pick up significantly in the near future. Meanwhile, he said, the region’s labor force continues to grow, fed by newcomers who consider Charlotte more fertile ground for work than other cities.
Vitner also predicted that interest rates, inflation and credit card restrictions all will increase. “People will be forced to live within their means because credit will be harder to get,” he said.
That echoed one of Connaughton’s key points about the economic recovery. As long as banks keep their reserves at high levels instead of lending to people with good credit, he said, gains will be “extremely modest” in months ahead, even if the recession has ended.
“No early stages of a recovery feel like a recovery,” he said.
The N.C. Foreclosure Prevention Project has helped more than 1,000 homeowners in our state since its inception according to the article below from the Asheville Citizen Times.
Foreclosures are not as rampant in the Triangle as they are in other parts of the country, but there is some help out there. You may also be able to avoid foreclosure through a “short sale,” in which the bank agrees to take less money than is owed on the mortgage. Real estate professionals like me can help you through one. Not all lenders will accept short sales or discounted payoffs, especially if it would make more financial sense to foreclose; moreover, not all sellers nor all properties qualify for short sales.
Just remember- you always have options when selling or buying a home, so it’s best to call and talk to someone like me first!
The idea for this blog came to me from Christie Hyde on Facebook and some of my clients already have some good tips they threw in too! It’s summer- a great time to be house shopping- but here in the South, it can get pretty darn hot! So here are some ways to beat the heat while you are looking.
-Tell your Realtor to crank up the AC in the car!
-Take lots of water! Bottles or jugs… you’re gonna need it!
-Drinking all that water probably means you need a bathroom stop. If you’ve ever been in a vacant house, you know the plumbing may work, but there may be no toilet tissue. One of my clients, Erica, was smart enough to bring her own and we both used it!
-That client was also smart enough to bring chairs to sit in during the inspection. Inspections can last a while and it can be very toasty in a home that hasn’t been lived in. So we turned on the fan and parked the chairs underneath.
-Bring a snack with you. The heat can drain you and if you’re out for a long trip- you just feel sick if you haven’t eaten and get dehydrated!
Thanks to Christie and Erica for these ideas. I plan to make the summer experience better for my clients because of this! Write me back if you can think of anymore.
Let’s face it- not all of us know what’s on our credit report. And not everyone knows their credit score. We just don’t think about it! I found the article below on www.liveinformed.com. I wanted to share it. It’s important to get to know your credit, for a number of reasons- identity theft, peace of mind and decisions involving money. When it comes to buying a home, this is especially important, as lenders look at your credit score- to determine interest rates and your debt- to see how much house you can afford. After reading this and checking your credit, don’t be discouraged if it’s not as stellar as you thought. I know of a wonderful program that’s helped lots of people clean up their credit and get into a home more quickly than they ever dreamed they would! So- call me if you need me. Happy Reading!
Do You Know What’s On Your Credit Report? (ARA)
We all know the importance of having an accurate credit report and a good credit score. Still, many of us have no idea what our credit score is, nor do many people know what is on their credit report. Are you shopping for a new car or looking to purchase a home? A good credit report and high credit score will give you the power to negotiate a better interest rate on your loan. Maybe you are applying for a job or a lease on an apartment. It’s not uncommon these days for potential employers and landlords to perform credit checks. Are they going to be viewing something positive?
The good news is there is a quick and easy way to view your credit reports and credit scores from all 3 credit bureaus. Start by visiting FreeCreditReportsInstantly.com. The site allows you to enroll in Credit Diagnosis, a program that provides instant access to this important information. At FreeCreditReportsInstantly.com, you simply fill out a short form with your personal information on a secure Web site. You will then receive a confirmation e-mail with your log in information so you can access your reports and scores. Each visitor gets a free 7-day trial period with unlimited access.
You’ll receive: * Credit Reports and scores from all 3 credit bureaus: TransUnion, Equifax and Experian * Credit monitoring and alerts * Reports and information in just seconds after joining * Access 24/7 * Secure online delivery of personal information By monitoring your report regularly, you can also help ensure you don’t become a victim of identity theft. With this crime happening to an increasing amount of people, it’s more crucial than ever to check your credit report for suspicious activity and to ensure accuracy. By joining Credit Diagnosis at FreeCreditReportsInstantly.com, you will receive updates alerting you if there is any new activity on your credit report, so you always know what is happening. So stop wondering and take charge of your financial future. Visit www.FreeCreditReportsInstantly.com to fill out a short form and get your credit report instantly.
Since I am in the middle of creating a household budget myself- I thought it would be nice to share these tips for creating one. I also have some more ways to save I might save for a later post. If you are trying to come up with a budget- let me know how it goes and let’s share our experiences. It’s the “sticking to it” part that’s gonna be the tough one- right?
10 Tips for Creating a Household Budget
MAKE GOALS
Goals can be as short-term as buying a new pair of shoes next week, or as long-term as going on vacation next spring.
INVOLVE YOUR ENTIRE HOUSEHOLD
If it’s just you, great. But if you have a spouse and/or children, create a budget together, and explain to everyone that they may be asked to make sacrifices.
BUDGET IN FUN
A budget that leaves no money for an occasional dinner out or for a family outing at an amusement park is designed to fail. Your budget should help you, not put you in a bind.
MAKE THE EFFORT TO SAVE
Most people look at saving as putting away money for a rainy day. But a better way to look at it is putting away money for a nice vacation.
TAKE INVENTORY
If you don’t know where your money goes, how do you expect to manage it?
DISTINGUISH BETWEEN WANTS AND NEEDS
Buy what you need first. The wants belong in the “what’s left over” category.
EXPECT CHANGESLook down the road, and get into the habit of thinking ahead.
GET RID OF HIGH-INTEREST DEBTFocus on identifying high interest-rate debt and work on paying that debt off.
FIND A SYSTEM THAT WORKS FOR YOUIt could be the envelope system, a bank or a credit union. If it works for you, use it.
STICK TO ITCreating and sticking to a budget that works won’t be easy, but in the end it will help you make the most of your hardearned money.
This is great! Iwas “googling” (is that how you spell I was looking for something on Google?) blog topics because I was stuck on what to write this week. I found this article entitled ”100 Blog Topics I Hope You Write Today.” At number 43: :My Day Job Versus My Passion.” Yes- this is what I have to write about.
The great thing is that my jobs have always been related to my passions. My passions just changed over the years. I spent nearly 10 years a a television producer. Why? It sure wasn’t the money. It was because I loved the news. Ever since I was a kid, I knew Iwanted to be a journalist- and preferrably the kind who delivers it to you on the evening news. I did try to follow that path. I got my first job as a producer at a small station in South Carolina and over time, got to do some feature reporting. I soon realized that the path to the network anchor desk would be gruelling, competitive and sometimes not worth risking the pleasures of life I would have to sacrifice for my job. So, I veered off that path slightly into full-time producing, where I knew I could still make a difference in journalism and people’s lives. I also knew I could move up in the ranks more quickly. I said to myself I would win a local Emmy by the time I was 30. I didn’t make it quite that far, but I did win a national award for a documentary on domestic violence. That would have to do.
It was when I was exactly where I wanted to be in terms of my producing career that things started to change. News was no longer necessarily governed by the truth, but many times, by ratings and sales gimmicks. Soon, with an economic downturn looming, job cuts meant more and more hours on the job with little help in actually finding those truths. My job each day became churning out a certain amount of stories with very little research behind them. And of course- there are the deadlines. The show must go on, as they say. The rush to meet those deadlines, and a certain story count, with fewer sources behind those stories- made me just sad. I no longer felt like I was doing what I was born to do.
I said to myself- what is my passion? And it really was- decorating homes, staging them, and constantly looking at them. Who buys them? What are they worth? What makes them fabulous? That’s when I decided to turn my new passion into my new career. I went back to school while working full-time and got my real estate license. I haven’t looked back and I have absolutely no regrets.
Since I began my real estate career, I have found new passions within the job. I love to see the looks on my clients faces when they find their new home or sell one more quickly than they thought they would. I love that I learn something new every single day. And I love meeting new people! I still get to do some decorating and staging and it’s afforded me more opportunities than I ever thought possible.
I do have other passions that I try to keep as hobbies- such as yoga, gardening and cooking. Who knows- maybe those passions will turn into jobs one day, but for now and a long while to come- my day job is my passion and I’m so thankful for it!
Ah… to be young again. Nearly 15 years ago, I was standing on my new college campus, in the midst of hundreds of freshman clamoring to get into dorm rooms with boxes and furniture. That first year, I thought it was great to take a shower caddy and flip flops into a bathroom shared by 10 girls and cram my life into one half of a bedroom. Then, I became a sophomore and oh how I wanted independence- by moving into a house with just 3 other girls (and one bathroom!). Dorm rooms can be most affordable for some students and so can sharing rent. Imagine, though, getting your own place, where your roommates pay rent to cover the mortgage. Then, at the end of your college years, getting a return on your investment. Here’s how it could work (your family may be able to help you out on this one): If you have no established credit, say a credit card or a car loan, your parents or relatives may be in a position to take out a loan to buy a house near campus . The rent from you and your roommates would ideally pay the mortgage. If your parents decide to sell at the end of 4 years, they should be able to get their money back and then some. If you do have some established credit, you may be able to take out an FHA loan on your own, with some gift money from your parents or relatives. If you are working and filing taxes- you could qualify for the $8000 tax credit. The tax credit ends at midnight November 30, 2009. You could take that money and pay your family back for the down payment-which is 3.5% of the purchase price. Your parents may even decide to let you keep the tax credit for your college fund. Again, at the end of your college life, you should be able to see a nice return on your investment. There are some great deals out there right now, especially with such low interest rates. For those of you planning to become doctors, there are special loans available for housing once you begin your residency. So what’s the first step? Call a Realtor and ask them to help you get in touch with a reputable loan officer. Together , they can figure out how to finance your first home and find the most suitable place for your needs. Let your rooming situation work to make money for you or your family- while you are studying hard to get that degree. You are studying, right?
Since I am in the middle of a move, I thought it would be helpful to offer some tips on moving. I found a great article (you can see the link below), but I thought I’d offer my own as well.
-The article mentions making a list for everything, but I have found labeling the boxes with what room each goes in and its contents will be just as helpful and maybe less time consuming. So get yourself some tape and a Sharpie!
-Also- you may want to do the packing, but call a moving company to help you get the boxes and the big stuff moved! Packing yourself will save you money. Make sure the company you call is licensed, bonded and reputable.
-Have plenty of packing supplies, boxes, paper, bubble wrap, and tape. You will need more than you think.
- Plan what you need to leave out. For example, you can start packing things you don’t use everyday, early! But you’ll need to leave medicines, some clothes, some food and some toiletries until the last minute. I also don’t want the movers to take the vacuum and a few cleaning supplies so I can clean after they leave. Have a plan!
-If you have animals, you’re going to need a plan for them too! How will you get them where they need to be?
Enjoy the tips I provided and the ones below. And remember- if you want to move in the near future- call me for help with all your real estate needs!
“Sometimes you gotta move, gotta get a bigger house. Why? No room for your stuff anymore.”- George Carlin
I was remind of this hilarious Carlin rant yesterday as I move into my new home. I was so ready to get out of the last one- great as it was- because we no longer had room for my stuff and my husband’s stuff. When we moved to our new house- I said, “This is great. I have so many places to put all my stuff.” So what did I do today- went and bought more stuff and and making a list of stuff and am making room more stuff!
I wanted to offer at least some helpful advice on just what stuff you might need when you move and when I say need- I don’t mean a new HDTV. Although, that is at the top of my husband’s list! I’m talking about things meant to keep you safe.
Think about things like:
-a fire extinguisher
-carbon monoxide and smoke detectors if you don’t already have them in the home
-a step ladder (or maybe even a larger ladder)
- lots of light bulbs
-keep a First Aid kit handy (especially as you unpack)
If anyone else has any good ideas for home safety type items you should buy right off the bat- send them to surtic@hpw.com… because we could all use MORE STUFF!
Last Friday, I saw some former co-workers I hadn’t spoken to in a while. The amazing thing was, they knew everything that was going on with me. The conversation didn’t pick up where we left off, it picked up off my most recent Facebook posts. They were asking, “So, how’s the house? Did you get everything unpacked? Business seems to be going well.”
Wait a minute- I never told you personally that I had moved or sold a few houses recently. At first, I left thinking the art of conversation had been lost. That you really never had to talk to anyone, they already knew everything from your posts. What’s there left to talk about? Then, I thought how wonderful, I really don’t have to catch anyone up and we can start from “right now.”
The next day, after I’d spent some time pondering whether Facebook had killed our true social skills, I realized again it’s good use and importance. My brother lives in Chicago and we don’t get to talk very often due to scheduling and time differences. My husband read my brother’s latest Facebook post to me in bed that morning. It began “Hey, jerkface, in your pickup truck that cut me off and nearly killed me tonight…” My brother went on to explain he’d been riding his bike and had to swerve to avoid the truck. I knew he would not be awake when I learned what happened, but I also knew that he was alive (the wonderful news) and that he was hurt (the not-so-good news). I went the rest of the morning thanking God my brother was still safe and waiting until we woke up to call. Had it not been for his post, I might not have even thought to call him for a couple more days.
When I did call, he told me how it happened, and that when he purposely crashed his bike, he’d flipped over his handle bars. He hurt his arm, ankle, and thigh. He found out yesterday he has a fracture near his elbow. So even, post-”post” we had so much to talk about and I was so happy he was well enough to get on Facebook and talk to me on the phone. I can’t wait to give him a big hug. Maybe Facebook hasn’t killed the conversation at all, it’s just sparked so many more! Here’s to connections new and old… social networking and social skills… conversations online and in person. May you be connected to someone today!
The home pictured above at 3819 Poulnot Court is a perfect example of one that’s right for the first-time homebuyers tax credit. Why? It’s ready to move in now. It is not a short sale, so you can close in about 30 days (maybe less). It’s also in a great location and is in a first-time homebuyer price range: $134,000! Go to www.3819PoulnotCourt.info for more information and call me if you’re ready to get into a home like this one. Time is running out and the government has NOT said the tax credit will be extended. That means you’ve got about a week to get under contract. So let’s get moving and help our local economy!
Oh my! What great news! We’re just waiting on President Obama to sign off- but why wouldn’t he? The Tax Credit Extension and Expansion is the best thing I have seen yet to stimulate this economy. This time it doesn’t just include first-time homebuyers, but “move up” buyers too! Nearly everyone has an advantage now.
Here are the highlights:
Deadline for current credit is November 30, 2009.
Deadline for new and improved credit is April 30, 2010, as long as the home is under contract by that date but you m must cloes within 60 days.
Eligibility and amount of new credit:
– $8,000 for first-time homebuyers (those who have not owned a primary residence in the last three years).
– Up to $6,500 credit for homeowners who have lived in the home they are selling, or have sold, as a principal residence for five consecutive years in the past eight.
Buyers whose income exceeds $125,000 (single) and $225,000 (married )are not eligible.
Homes valued at more than $800,000 are also ineligible.
So start searching for your first home or make plans to “move up” today! And as always… call me if you need me!
Things are picking up for sure in the Raleigh housing market- yes even during the holidays. I had no idea December would be so busy- but thank goodness it has been! I have gotten one house under contract this week and hopefully two with all the traffic we’ve seen. Buyers and sellers are out there- they just need to get married! Interest rates remain low and the tax credit is now available to first-time homebuyers and “move up” buyers. you have to be under contract by end of April and closed by end of June.
News you can use- FHA might soon require that buyers put 5% down rather than the current 3.5% requirement. So if all you have saved up is that 3.5%- ACT NOW! A lot of buyers are asking sellers to pay closing costs and they are getting it.
If you have any questions about the tax credit, down payments, or how to get started on your house hunt- as always- give me a call! I look forward to guiding you through the process.
Looking for something to do in Raleigh on New Year’s Eve? MSN City Guides offers several suggestions including the 19th Annual First night Raleigh. First Night is family friendly and there will be lots to do- including karaoke on the courthouse steps! Who knew? And of course- you don’t want to miss the acron drop.
There are also lots of restaurants offering dinner packages with champagne toasts. The North Carolina Symphonhy plays at Meymandi Hall and there are lots of bands playing at local bars. So whether you are looking for something that’s fun for the whole family or something more adult-like, there’s plenty to do in Raleigh this year. Remember to be safe and here’s to a prosperous 2010! I’m looking forward to it.
Wow… my 2010 has really started off with a bang! It started off with a call from my hair stylist saying that I had won a drawing at my salon. (Happy Belated Christmas to me.) Then, great conversations with 2 first-time homebuyers who qualify for the tax credit and want to take advantage of it before it expires at the end of April. I even talked to 2 “move-up” buyers who also qualify for the expanded version of the tax credit.
I have also stuck to my resolutions so far about exercising. But, you know how that goes. We are always motivated during the first week of the new year to lose weight aren’t we?
Here’s to an awesome start to an awesome New Year! I hope yours is off to a good start as well. Let’s stay focused and positive that this year will be so much better than the last!
I have long practiced Hatha Yoga. And… I have long wondered about Bikram Yoga, or hot yoga. I would drive by exclusively “hot” yoga studios in different cities and check the prices, but I just couldn’t get up the courage to do it. Until yesterday.
A co-worker and I decided to go together and try this steamy workout. It smells like a pet store when you walk in from all the sweat, but that’s okay. We knew to drink water all day before and to not eat 3 hours before the class. We armed ourselves with a bottle of water, a big towel and a mat. The one rule: you can’t leave the room for 90 minutes. What? Can’t leave the room? This is not good news for someone who’s been drinking water all day and may die in class. I’m being a bit facetious, but about 45 minutes in, I did think I was going to die. My heart was beating so hard I could hear it, you feel like you can’t breathe and the nausea ensued.
They say it’s perfectly normal to feel dizzy, even nauseous your first go-round. The room is 105 degrees of thick air. The instructor did a great job of telling us how far along we were and that we were not going to die. Indeed, I am here to write this blog, so I must have done okay.
When I left, I had a headache (they say from dehydration), even though I did drink a LOT of water. But I must say when it was all over- for the first time in months- I did not have any neck or back pain when I went to bed. And I felt cleansed. Detoxification is a major benefit of being in that steamy room. I have a lot of neck and back when I am lax about doing any type of yoga. All in all, it was a great experience and I am ready to torture myself again until it starts to feel better! I think after you get used it, the benefits will far outweigh the discomfort.
If you are interested, there is a Bikram studio in North Raleigh. It’s $10 for a 10 day trial. Here’s the website http://bikramyogaraleigh.com/. Namaste!
First-time homebuyers and those considering using a government backed loan to buy need to know this information put out by CNN today! Your credit score could affect your down payment and it looks like all the fees will increase. As always, if you think you are going to be affected by this news, please call Carrie Surti at 919-389-6676 and she will help you get the answers you need! You can also email me at surtic@hpw.com or visit my website at www.CarrieSurti.com
Harder to get an Uncle Sam mortgage
By Tami Luhby, senior writerJanuary 19, 2010: 11:47 PM ET
NEW YORK (CNNMoney.com) — It’s going to be harder to get a government-backed mortgage from now on.
Looking to shore up its weakening finances, the Federal Housing Administration is set to announce stricter standards on Wednesday.
The agency, which insured nearly a third of new mortgages in 2009, will increase the premium it charges for its mortgage insurance and require those with weaker credit scores to come up with larger downpayments.
The FHA will also reduce the amount of money a seller can provide a homebuyer for closing costs, as well as tighten its enforcement of lenders.
“Striking the right balance between managing the FHA’s risk, continuing to provide access to underserved communities, and supporting the nation’s economic recovery is critically important,” FHA Commissioner David Stevens said in a statement. “Importantly, FHA will remain the largest source of home purchase financing for underserved communities.”
FHA loans have skyrocketed in popularity during the mortgage crisis since the agency backstops banks if borrowers stop paying. But housing experts are growing increasingly concerned about the agency’s ability to handle rising numbers of defaults. (Cash cushion shrivels for FHA.)
In November, the agency reported that its reserve fund has dropped to .53% of its insurance guarantees, well below the 2% ratio mandated by Congress and the 3% ratio it had last fall. The fund covers losses on the mortgages the agency insures.
Federal housing officials, who took several steps to shore up the agency’s finances last year, promised to do more. The new announcement is the latest set of changes to FHA policies.
What the new rules mean
The agency will increase its up-front mortgage insurance premium to 2.25%, from 1.75%. It will also ask Congress for the right to hike its ongoing premium, currently between .5% and .55% monthly.
The FHA will also require borrowers to have at least a credit score of 580 to qualify for the agency’s 3.5% downpayment program. Those with lower scores will have to pay at least 10%. However, this rule may have little practical effect since Stevens recently said the average borrower score is 693.
The new policy also will reduce the amount of money sellers can provide to homebuyers at closing to 3%, down from 6%, of the home’s price. That change will bring the agency in line with industry standards and remove the incentive to inflate appraisals.
Finally, officials plan to clamp down on lenders offering FHA mortgages. It will more closely monitor their performance and compliance with agency rules, as well as seek legislative authority to require mortgage firms to assume liability for all loans they originate and underwrite.
One thing the agency did not do is to broadly increase the downpayment requirement. Many industry observers said such a step is necessary to reduce the risk the FHA faces.
Agency plays crucial role
As banks have clamped down on mortgage lending, the FHA program has emerged as one of the few ways people can buy a home.
Banks are more willing to make FHA loans because they come with a federal guarantee to cover losses if the borrower defaults. And borrowers can more easily qualify for FHA loans because they only need 3.5% down and can have lower credit scores.
As a result, demand for FHA loans has exploded. The agency guaranteed more than $360 billion in single-family mortgages in fiscal 2009, which ended Sept. 30, more than four times the volume in 2007.
The agency insured about 30% of home purchases and 20% of refinanced mortgages in 2009. Nearly 50% of first-time homebuyers go through the agency.
The agency, however, has also seen a spike in delinquencies amid the mortgage meltdown. Some 14.36% of FHA loans were past due in the third quarter, according to the Mortgage Bankers Association. This compares to 9.64% of all loans.
This week, I donated two large bags of items to help victims of Haiti’s earthquake through the HPW Foundation. The items I donated were mostly things I no longer needed at home- clean/used towels, clean/used blankets, easy to open canned food, water, Gatorade, and gauze. Some of the items on the list of things needed in Haiti right now are low cost and easy to buy as well. My company’s charitable Foundation will disperse the items to two local agencies weekly who will then get the to Haiti. You can help if you’d like! Just email me at surtic@hpw.com and I will be happy to forward the list of items needed and tell you how to easily drop them off for donation!
Another incentive: it is my understanding that if you donate anything to Haiti right now, that donation is tax-deductible for 2009! Ask your accountant!
Oh I have already had my 15 minutes of fame as a feature reporter in Florence/Myrtle Beach, SC. I wouldn’t want to make light of the “serious” features I covered, so let’s just leave it at that. Well- I did do one very serious story for an award-winning special I produced, but that’s really the only time you could have caught me on camera. I was behind the scenes for many years- until now!
This is my YouTube Debut!
A big thanks to Brian DeRoy of Live Shot Media and I hope y’all enjoy! By the way- as Veronica Corningstone would say- I have also tried to practice my “non-regional diction” for many years. You’ll be able to watch this video anytime on www.CarrieSurti.com- so y’all come back now ya hear?
Why is this my pick? Price is right! Only 3 miles from downtown Raleigh. Secure Building. Low HOA dues include insurance. Get close to downtown without paying ITB prices- perfect.
Next up.. another Atlantic Place hot one! 801 Moratuck Drive #308.
Price: $129,900
Again- a great deal. And you can really take advantage of the first-time homebuyer tax credit on this one.
Third pick of the week: 5021 Tallwood Drive
Price: $350,000
Why did I pick it? Great location and sits on over an acre of land. Tough to find in North Raleigh. No HOA dues, priced under tax value and tons of updgrades. 2848 square feet which includes a HUGE bonus room with wet bar. Move-up buyers: get your tax credit here!
I can show you any of these so call me if you’re interested!
I have gotten a lot of tax credit questions lately, and rightly so. Time is running out and I think the message has NOT gotten out to a lot of homeowners that this credit is for them too! It’s not just $8000 for first-time homebuyers, it’s $6500 for homeowners who’ve owned their home 5 of the last 8 years and want to purchase another property- either to upsize or downsize. Whatever the case, you must be under contract for the purchase of a new home by April 30th and you have until the end of June to close on it. If the attached sheet below does not answer your questions, please contact me. If I can’t answer them, we’ll find an accountant who can! For those who already own a home- I can easily crunch the numbers for you to see what your equity position is and whether this is the right move for you! Let’s get to work on finding your new home!
Why? This is my pick of the week because it’s in a great Midtown location and the price is right! Walk to the community pool or tennis and be minutes from North Hills. The best part? It’s been pre-inspected. Let me know if you or anyone you know wants to see this pick of the week!
I don’t always have time to preview homes for buyers, depending on how quickly they want to meet and set up appointments to see houses. But- I’ll tell you that this week I have had plenty of time to do that, as my buyers set our meetings far enough in advance. It’s the best thing I could have done for my clients and something you should expect your Realtor to do for you- if time allows. Why? We were able to eliminate, based on their list of criteria, two homes from our search. One could have had a potential midlew problem and another just wasn’t what they told me they were looking for. A third home, I believe has just about everything they are looking for.
I gave my clients my thoughts on the homes and let them decide which ones to eliminate. We will have a great experience when we head out to look at homes this weekend. And- it will make the whole process less overwhelming- because we won’t be seeing the things they wouldn’t have been interested in anyway. Taking advantage of that tax credit will be a whole lot easier too!
Why is this my pick of the week? Custom built home on over an acre of land. Not easy to find around these parts sometimes! It’s spacious in the inside too and has 4 bedrooms, one that can be used as a bonus. Another great thing about it- NO city taxes. You know how to find me if you or someone you know is interested!!!
Sometimes I just don’t believe my own good fortune. This weekend, my parents and I decided to take a trip to Shelton’s Furniture on Morgan Street downtown. I go to Shelton’s a lot and furnished much of my new home with beautiful pieces from their store.
Elvis’ “In The Ghetto” was playing and I went to see if my Dad was about to break out into his Elvis impersonation in the middle of the store. Thank goodness something else had his attention. He said, “Look at that.” It was a piano. I’ve been looking for one for a while. This one was not in great condition, but it was good price, so Shelton said he would get the man on the phone who had it in consignment. It needed to be refurbished and tuned, so this was going to be a project that could cost a whole lot more in the end.
The guy on the phone said he had something even better. A 1960′s upright Wurlitzer already loaded on a truck. He didn’t want to unload and load it again, so he said he would bring it down to Shelton’s. If we liked it, he would let us have it with delivery for $400.
Just a short while later, I called my husband to say, ”Honey we have a piano being delivered to our house in 30 minutes.” No, I did not ask him if we could buy it, my parents and I were already headed for the ATM.
It does need a good tuning, but man is this thing a deal and a dream come true! I haven’t played in years, so I need to brush up but I’ll be “back on the bike” in no time.
I don’t want to toot my own horn- but guys- you are reading an award-winning blog!
This week at the 36th Annual Coldwell Banker Howard Perry and walston awards ceremony, www.TriangleLiving.info won Silver for Blog/Social Media Presence! I am thrilled, honored and humbled.
Again, I don’t want to be self-aggrandizing, but I also won a few other awards- Gold for Units Sold by a New Associate, Silver for Adjusted Gross Commission by a New Associate and the Rising Star Award. I am really proud of this blog though! So thanks for reading and I appreciate all the support!
Here are some ways to help the environment and your pocketbook at the same time. Here are the Top 5 ways to save energy and money, according to Southern Energy Management.
1.Change your light bulbs. Making the switch from incandescent to compact fluorescent can get you instant savings on your energy. Though the compact fluorescents will be more expensive than the old ones, it’s a wise investment.
2. Replace Appliances 20 years or older. There are tax-free holidays for new Energy Star appliances. That will save you big bucks at the time of purchase and on your energy bills.
3.Seal Air Leakages. Dan McFarland with Southern Energy Management says, most air leakages don’t come from the doors or windows, but from the drywall near the attic or subfloor. Make sure all “holes” around the plumbing are sealed. You can also get a tax break for new energy-efficient windows. And– if you have a crawl space you may want to get it sealed, for a number of reasons.
4. Replace HVAC Systems 12 years or older. There are tax breaks available for replacing these systems with newer, efficient ones as well.
5.Turn Stuff Off! Just turning off lights and other things you may have plugged in can save you money also. Did you know that a large flat screen TV can use as much energy as a refrigerator? Progress Energy offers 5% off each monthly bill if your home is Energy Star certified. Older homes cannot get the certification, but you do things to make your home more energy efficient. One great way to find out is to get an energy audit- $25 from Progress Energy. So do your part to help the environment and your wallet. If you have any questions, please feel free to give me a call and I will see what I can do for you.
There’s not much time left to take advantage of the homebuyers’ tax credit, but you still have a shot! You need only be under contract by April 30th and you still have until July 1 to close. It’s not just for first-time homebuyers. Many move-up or move-down buyers are also qualified. There will never be another time like it. Home prices are stabilizing and interest rates are ticking up- so ACT now! Call me if you need me. I will be happy to answer any questions!
4. While housing prices are stabilizing, there are still some great deals to be had around the Triangle.
5. Coldwell Banker HPW is partnering with Towne Bank to help buyers get “Cash for Closing.”
6. 100% financing and ways to get help with down payments are making a comeback. I know of a few great programs other than USDA.
7. New construction supply is down to 13%- the lowest in 6 quarters- and builders are going to start cranking out more houses. This is great news for our housing market and the local economy- but it also means you could see an uptick in prices.
8. If you are selling, it’s still possible to make up a loss (if there is one) when you purchase your next home- through incentives, price reductions and those interest rates.
9. There have and always will be tax benefits to home ownership- even if it’s not exactly a check for $8000!
10. This IS the best place to live and work (in my humble opinion).
If you haven’t seen it yet- the amended plan for the new Buffaloe Athletic Park is awesome! There will be an Aquatic Center with a competition pool and a dog park and most of the fields are already in place. There is one neighborhood that literally has a walkway to the park. I have sold several houses there and have one listed right now. There are other nearby neighborhoods that I have also sold in. The traffic might get a little worse, but the convenience of living in one of these neighborhoods with so much to do in this park will be amazing! Check out the plan below!
It happens all the time and it’s happened to me and my clients- scammers taking legitimate internet postings of homes for sale and re-posting them for rent on Craigslist. The scammers also ask for money to be wired! Find out what you need to watch out for in this NBC 17 Consumer Alert!
I think it’s so exciting to see the Raleigh Amphitheater open downtown. I know this city has so much to offer, but this type of outdoor venue kinda makes me feel like we’ve “made” it. The whole City Plaza actually gives me that vibe. It’s just my opinion!
This is a unique market which presents unique situations for buyers and sellers. What if you need to move and your home isn’t selling? Maybe there is a buyer who likes it but does not qualify to buy right now. Is a lease purchase option right for you?
Let’s talk about what it is. A lease purchase option is where a potential buyer leases the property with an option to own. The renter/buyer may pay market value or even a premium to rent for property for a certain amount of time (6 months or a year) until they are able to purchase it at the end of the contract. The renter/buyer would pay an option fee which is only credited to the sales price of the home if they close on it. They would also put down additional earnest money, which would also be credited back at closing. If the renter/buyer never closes on the property, the option fee is kept by the seller and the earnest money can only be returned to the buyer for certain reasons under the contract- such as the buyer cannot get the loan.
If a portion of the monthly rent is to go back to the renter/buyer to help with closing costs or be taken off the purchase price, a standard contract won’t do and the buyer will need an attorney to write a contract or portion of one.
The benefits to the seller are that someone who’s invested in the home will be taking care of it- utilities, lawn maintenance, even repairs can be negotiated and taken care of before the tenant moves in. The seller would also be able to pay for all or a portion of the mortgage during this time with the use of the rental money- but would also understand that some of that money could go back to the buyer at closing- depending on the contract. A separate rental agreement is also drawn up so that both parties agree to such things at late payment fees, pet deposits and monthly rent amount.
There are some risks to the seller as well. The contract could fall through, the tenants could cause damages, and you may have to put your house back on the market at some point. The seller is also responsible for making sure the mortgage, taxes, insurance and HOA dues are paid during the lease period.
Also, Realtors are not necessarily property managers. I am not and my “errors and omissions” insurance does not cover such activity. You may consider hiring a property management company during this period, or the tenants could go directly through you and the seller may be responsible for things that go wrong during the lease period, unless it’s negotiated upfront. The Realtor may also not be equipped to handle background or credit checks, but can help you and the tenant work those out.
This is not the best option for everyone, especially if you want to buy elsewhere and cannot afford to carry more than one mortgage. However, it is something to consider and if you need me to answer any questions for you, I will be happy too!
And one last note for the potential tenants/buyers: the sellers must agree to take this risk with you, but some will. You must understand that you are entering a contract to buy this property someday and if you decide not to for whatever reason, most of your monies will be lost, just like you were renting!
You’ve heard it before- the Raleigh area is one of the strongest economic areas in the country. Now Forbes says if you are looking for opportunity- it’s one of the BEST places to be. Great news for people who live here and those who are planning to relocate!
Homebuyers will be allowed to take an extra three months to close on homes under contract during Home Buyer Tax Credit. Some banks had made it difficult to get the closings done by June 30th. Now there’s a reprieve.
Also don’t forget that military families may have a year left on the tax credit itself if the military personnel spent some time overseas. Ask me for details!
The NC State Fair is underway in Raleigh! What am I going to eat? Fried Oreos, cheesesteak, funnel cake, corn dog, fried bubblegum? Yes!! Great weather too!
After 6 months of renovation, using a 203 (k) loan, 112 Camden Street is almost ready to move-in! I can’t believe this 100-year old house in Downtown Raleigh now looks like this! Video blog coming tomorrow!
Instruments of Justice playing right now at the Caraleigh Mills/Red Cross Tornado Victims Benefit. This is an awesome event and great cause. Caraleigh Mills was affected by the recent tornadoes and they are raising money tonight for all those affected! Way to go!
Carrie Surti Trusted Real Estate Advisor Coldwell Banker HPW Text me: (919) 389-6676 Surtic@hpw.com Follow Me on Twitter @CarrieSurti
– Sent from my Palm Pixi
The HOA at Avington Place are held a food/clothes drive today to help tornado victims. This neighborhood is in Northeast Raleigh was in the path of the tornado, but was one of few that came out virtually unscathed. Neighbors have collected so many donated items that we had to call Helping Hands Mission to come pick it up. Those affected by the tornado can pick up items at Raleigh’s Helping Hand Mission on Rock Quarry Road.
Carrie Surti Trusted Real Estate Advisor Coldwell Banker HPW Text me: (919) 389-6676 Surtic@hpw.com Follow Me on Twitter @CarrieSurti
– Sent from my Palm Pixi
Open House today at 6500 Sparkling Brook Drive in Stone Ridge. The house is gorgeous and the weather is too! I’ll be here ’til 4 pm!
Carrie Surti Trusted Real Estate Advisor Coldwell Banker HPW Text me: (919) 389-6676 Surtic@hpw.com Follow Me on Twitter @CarrieSurti
– Sent from my Palm Pixi
We have learned so much this week from some pretty smart people at the Coldwell Banker Generation Blue Conference in Las Vegas. From social media to the power of video, I think I’m bringing back some great ideas to help my clients by and sell homes.
Aside from learning a whole lot, I was also a bit “star struck” this week. I have met celebrities before when I was in television, but meeting Madison Hildebrand from “Million Dollar Listings” just made me giddy! He’s a smart guy and had some very good advice. But ok- let’s get real. He’s easy on the eyes and I watch this show every week! For those of you who watch the show, I asked him if last night’s episode was where he told Josh he could “throw down.” not a very intelligent question, I know. (I promise I have asked other people here better ones.)
That’s all for now from The Mirage in Vegas! Hope you enjoy the pic!
Carrie
Carrie Surti Trusted Real Estate Advisor Coldwell Banker HPW Text me: (919) 389-6676 Surtic@hpw.com Follow Me on Twitter @CarrieSurti
– Sent from my Palm Pixi
I am overwhelmed by both.
Posted by surtic 
