With more than one in seven mortgages currently not being paid, the financial crisis is affecting millions of homeowners across the country, even here in the Greater Raleigh Area. Read the rest of this entry

Ever wonder what exactly a short sale is?  How is a short sale different from a foreclosure?  Does a homeowner have options?   I am asked these questions many times through out my week whether it is in a listing appointment, at the gym, networking events, or just hanging out with my friends.  I recently recorded a brief video explaining why a short sale can save homeowners from foreclosure Read the rest of this entry

Many people have asked me recently “What is going on with the Raleigh real estate market?”  Last month I created a Raleigh real estate market update video and I thought I would share it with you today.   Read the rest of this entry

It is now reported that 1 out 8 home mortgages in the United States are in default. Default occurs anytime a house payment is 30 days past the due date. This means many Raleigh area home owners are struggling financially and with rising interest rates we know there is another wave of foreclosures on the horizon for North Carolina. As a Certified Distressed Property Expert (CDPE) I have negotiated many successful short sales for my clients over the past two years and the process is long and tedious. Read the rest of this entry

Many people are hearing the word “short sale” and sometimes it can be confusing as to what that word really means.   I thought I would share with you my perspective as Certified Distressed Property Expert here in the Greater Raleigh, North Carolina area.

If you, or anyone you know, has any further questions or if you would like a private, confidential analysis of your current real estate situation, please call me at (919) 235.0007.  I am here to help you.

Linda

Just before Thanksgiving I met with 11 of the Top Real Estate Agents in the greater Raleigh area. We are all members of the Triangle Area Luxury Home Marketing Group. This group represents several real estate offices throughout the Wake County area. We meet once a month to tour each others homes for sale that are priced $750,000 and up. I have been a member of the group since it began in Raleigh back in 2004 and we always share what we are seeing in the market place.  

What is Happening With Luxury Homes Here in Raleigh?

This past meeting I asked everyone what percent they believe real estate values have fallen in the Raleigh, Cary, Apex and Triangle area. We all agreed prices have dropped 15% to 20% in the upper end and at least 10% drop in other price ranges. This is so much better than other areas of our country but, still very painful to folks who need to sell now. 28% of American home owners are under water and that number is expected to be in the 45% by the end of 2010.

If you know of anyone who needs to sell and finds themselves in this negative situation have them call me or visit my web site to learn about some of the solutions available. Several years ago we all believed Raleigh homeowners would be mostly bullet proof when it came to declining real estate values.   Now we know different. Ouch it really hurts!

Over the last several months many people have asked me if home sales have been picking up for the Raleigh real estate market.   While we have seen an increase in appointments scheduled to view our current inventory of  Triangle area homes for sale, we have not seen them turn into equal sales.  Home sales around the Raleigh region are still very sluggish and the luxury market  has been hit the hardest. 

The Biggest Real Estate Problem We Have in the Raleigh Region

is that we are not seeing many move up buyers. This is causing many sellers to compete for a sold sign and has driven home prices down. The listing inventory of homes for sale is still high and many sellers have reduced their home prices several times and still are not sold. The average home list price to sales price is  96% if sold in the first 30 days and 89% if price reductions occur. With declining home values, low interest rates and tax credits you would think real estate here in the Greater Raleigh area would be booming but, it isn’t. Everyone is busy showing a lot of houses but, the truth is Triangle real estate home sales are still lower in 2009 than they were in 2008.  

Let’s Look At Some Contributing Housing Market Factors

1.  First Time Home Buyer and Tax Credit   Read the rest of this entry

As many of you know I help people in the Raleigh, Cary, Wake Forest, Apex, Holly Springs area all of the time who are behind in the mortgage, facing foreclosure and need help.   Many times when I meet with people they tell me of scam companies and representatives who have contacted them saying they can help them, but instead charge upfront fees, etc and become a nightmare to deal with.

This week I came across a video by the Federal Trade Commission that gives helpful advice about what you need to do if you see you are starting to fall behind in your mortgage payments.   It also tells what you need to look for if you are approached by people who may in turn be scammers.    If you are anyone you know of need help, please help them get the real facts about what options homeowners have.   Visit www.hopenow.com, www.raleighrealestateforeclosures.com or call 1-866-995-4673.

You are not alone and we are all here to help.

Linda

Going Green in your Raleigh Home will help you save green every month. You do not have to build a new home  from the ground up to have a healthier, greener home in Raleigh. These quick home tips will help save the earth while reducing your monthly housing expenses too. 

TAKE YOUR TEMPERATURE

Turn your hot water temperature down to 120 degrees and cut hot water heating energy compsumption

SWITCH THE LIGHTS

Compact fluorescent light bulbs use up to 75% less energy than traditional bulbs. Replace them in highly used fixtures such as porch lights, bathroom vanities, and office lights.

SAVE WATER

 Install low-flow shower heads and faucets to cut back on water flow or shorten your shower time and your water and heating bill

PLUG OUT

Use a power strip for your Raleigh home office or entertainment center. Even in standby mode, electronics account for 15% of the household electricity.

SWITCH OFF

Remember to turn off the light when you leave the room and to unplug your computer and other appliances when not in use. These small gestures will save you money and protect these items during bad weather. 5 to 10% of your energy cost goes towards lighting

ADJUST REFRIGERATORS

of all your appliances your refrigerators will use the most electricity in your Raleigh home.  Adjust the temperature to 37 degrees F and your freezer to 0 degrees F  and save.

WASH CLOTHES 

in cold water and save roughly 36 cents a load.

DRY CLOTHES OUTSIDE

Hang your heavy duty clothes and bed linens outside and get that fresh smell.  You’ll also be reducing the amount of  energy you use in your home.

SEAL IT

Search for hidden air leaks around doors, window, electric outlets and in your attic, basement or crawl space too. Seal them with caulk, spray foam or weather stripping. With four seasons in Raleigh sealing a  home can cut energy consumption by up to 10 percent.

NIGHT NIGHT

Lower your themostat at night and stay warm with a down comforter. For each degree you lower it, you’ll reduce heating cost 3% to 5%.

RATE IT

Look for Energy Star-rated products for your Raleigh home. They can save you a third of energy cost.

Going Green with Raleigh real estate can turn your home into an energy-efficient investment.

Have a great Memorial Day Weekend!

Linda

What were the general principles we all learned in long term investing? Buy low, sell high, diversify, have an emergency savings and remember the long in long-term investing.  An artificial bubble was created by removing all barriers to owning a Raleigh home. If you were breathing you could get a Raleigh home mortgage and interest rates were historically low.  The buy button was pushed and the rush to riches through real estate investing came to an end because bubbles eventually burst. The bubble was never meant to be permanent but, now that it has burst many people are afraid to invest in a Raleigh home purchase. The Raleigh real estate bursting bubble has left you with one of the best Raleigh home buyer markets in all of history.

The ups and downs of Raleigh Real Estate Investing

Every investment has ups and downs but, over time owning a Raleigh home is a safe and prudent place to invest your money. Where else can you get a tax deduction, a place of YOUR OWN to express your pride of Raleigh home ownership and earn these kind of percentages on your investment?

National Home Appreciation Data

1970 – 1979 = 142% appreciation

1980 – 1989 = 52% appreciation

1990 – 1999 = 45% appreciation

2000 – 2008 = 42% appreciation

Data taken from RISMedia March 2009

Check out my daily best buy list at lindacraft.com

To learn about $8,000 tax credit click here.

Have a great day-

Linda