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Buyer’s Agency in this Seller’s market

 I have NEVER seen anything like this. Buyers of all price ranges having to write offers on multiple homes in hopes of getting one under contract. It is frustrating and heartbreaking to lose homes time after time. Around the Triangle area our buyers are losing out to cash investors and buyers that are moving here from other states bringing big money. Homes going 10-15% over list price and if they don’t appraise, the buyer is expected to bring money to the closing table to get it closed. In one area, homes are going for 100k over list price and 75k down in due diligence fee. All we can tell our buyers is continue to save your money, come in with good strong offers, and hope for the best. Some tips: over list price offer, high dd fee, short dd period, conventional loan or cash, seller possession after closing option.  If you are ready to buy a home, call us so we can get you approved by a lender and get going.  If you have been thinking of selling, call us because  we have buyers current
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COVID19

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Just thought we would update you on COVID19 and how it is affecting and influencing the real estate industry in the triangle area.  The Governor of NC issued a stay at home order on March 27, 2020.  Most of the cities and counties are going by what the state order says and are allowing real estate brokerage to continue as long as "social distancing requirements" are followed.  You can find this full order at  https://files.nc.gov/governor/documents/files/EO121-Stay-at-Home-Order-3.pdf .  However, the mayor of Durham, NC has decided to be more restrictive on this order and in all of Durham county, the order prohibits any in person showings.  A Realtor can do a virtual showings by facetiming a buyer or using other apps to show the home, a buyer can view an online virtual tour, or a buyer can offer sight unseen on a home.  You can read the more restrictive Durham, NC order at  https://durhamnc.gov/CivicAlerts.aspx?AID=2307 Here is what we are doing in other counties around Du
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Whole House Generators

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My personal story of a whole house generator goes back to the NC ice storm of 2002. An inch of freezing rain brought down trees and along with that wiped out power lines. Power went out Dec. 4th and was not fully restored until Dec. 14. We started looking at generators and found that they had whole house, automatic generators. While Larry was pushing for the roll up and crank generator, I had my heart set on an automatic one. Larry was working as a police officer so he would go to work where they had power, heat, running water, and warm food. Meanwhile I was stuck at home under the covers with 2 little ones and a dog. Didn’t take long for us to smell like dog and BO. I told Larry I would not be happy if he was working with all the amenities and I was out here in the country filling a generator with gas and trying to crank it. My dad’s best friend also told him he needed to get an automatic generator. My dad’s best friend was an electrician and told Larry he would put it in for us. We p
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Today’s post comes from a lender that I have worked with personally and professionally for 25 years. If you want to purchase a home or if you would like to see if refinancing can better and shorten your current mortgage, give her a call or send her an email. For most people, a home is the biggest purchase you’ll ever make. When determining your credit worthiness, the lender will consider your financial history. To do that, they’ll be looking at your FICO score. Here’s what makes up your FICO score: 35%  of your score is determined by your payment history . This includes everything from credit cards to retail accounts, as well as public records like bankruptcy. 30%  of your score is determined by your amounts owed . This isn’t just how much you owe, but what types of accounts and what percentage of available credit you’re using. 15%  of your score is determined by the length of your credit history : How long your accounts have been open, and what kind of activity they’ve
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Finally Fall Y’all - Be prepared

As cooler weather finally gets here, there are some things to do. Next weekend daylight savings ends so we Fall Back. It’s the best time to check your smoke detectors throughout your home and change the batteries. Did you know that if you have any gas source in your home (heat, hot water, stove) or an attached garage, you should have a smoke/CO2 detector instead of just a smoke detector. Now is the time to insulate your water lines. Outside spigots can be protected by wrapping insulation around the hose bib or purchasing a hose bib protector. Other things to think about is a sprinkler system. Sprinkler systems have a back flow preventer valve that will need to be insulated or removed and that line protected. We personally learned this the hard way when we thought we had thought of everything and I came home one day to find our side yard completely flooded where the back flow preventer had frozen and then burst. If you haven’t turned your heat on yet, it’s time to do that to make
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Hurricane Dorian

We typically do not put a new blog so soon to the last one, but as Hurricane Dorian bears down on the US, we have boarded up our condo at Carolina Beach and headed back to our home in Rougemont, NC. It is always  best to be prepared ahead of the hurricane.  in 1996, with a 2 year old and a 4 month old, Hurricane Fran roared through central North Carolina.  We are 180 miles from the coast but had massive damage.  22 trees down and no power for 2 weeks.  Thank God for friends that got power back on and let us move in with them.  A few things we learned.  After a hurricane, it is hot, humid, and the mosquitoes are ridiculous.  Prepare now and if it completely misses us, we will be thankful.  If it doesn't miss us, we will feel much better knowing we have things ready. Hurricane Preparing: Have cash on hand.   If power goes out, your debit/credit card will not work Fill up your car.   As the storm gets closer, prices may rise and stations may run out of gas Have non perishabl
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Wire Fraud. - It’s terrifying.

Last week Larry and I traveled to Wilmington, NC to take a wire fraud class (and get a little beach time at Carolina Beach). It’s real and it’s terrifying. Unsuspecting buyers wire their money for a closing and it is redirected to someone else’s acct. we heard stories of over $300,000 being lost through wire fraud. Some safeguards to this: Your realtor should be using a secure email and should not be involved with wiring instructions. Beware of any professional using a yahoo or gmail account because those emails are absolutely not secure. When closing day nears, the closing attorney may request from you a notarized form with wiring instructions. Although it may seem like a hassle, everyone in the transaction wants to protect you and your money. If you are required to wire money to a closing attorney for closing, call the attorney’s office and ask them to send you wiring instructions via an encrypted email. Once you receive the encrypted email, call the attorney’s office back usi
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