My team meets every Tuesday to keep our skills sharp in this ever changing Raleigh real estate market. Each department gives an update on current business, we discuss new listings coming to the market, what our current home buyers are looking for, and then we train on different topics. Sometimes the topics are new rules and form changes from the Real Estate Commission. Other training topics are economic, mortgage and appraisal issues affecting the Raleigh, Cary and Triangle market. Last week we focused on practical applications that can help us be more efficient by managing our time better. Each Team member started with making a list of the 5 worst time wasters and their 5 best time saving ideas. I thought I would share some of our team’s top tips with you:
The Linda Craft & Team’s Top Time Saver Tips:
- If you are working on a project or in an appointment let incoming calls go to voicemail until you complete the task. This will help you stay focused and be proactive instead of reactive.
- Check Voice Mail at regular times during the day, not after every call. It takes time to dial into voice mail so pick up several messages with one call.
- Follow a schedule and stick to it. Everything is important but, very few things are urgent. Plan your day the night before and protect your schedule.
- Text Someone verses Calling Them. This can save up to five minutes of idle conversation and alot of voice mail tag.
- Make your coffee the night before and schedule it to brew the next morning when you get up.
- Use a Free Dry Cleaners Pick Up Service. This will save you alot of time driving around town or standing in line.
- Use a Grocery Shopping Service. Shop Online and schedule your groceries to be brought to your car in the store parking lot for a cheap as $5.95 a trip. It also protects you from impulse buying.
- Clean out your inbox daily by one of these three actions; delte, file or answer and delete.
- Schedule your shampoo and hair cuts first thing in the morning so you are not doing your hair twice in one day.
- Close Your Office Door and Concentrate. People popping in with Chit Chat can waste 1/3 of your day.
Do you have more tips you can share with us? We would love to hear from you.
I hope that you have a great Monday-
When Raleigh real estate was booming, couples who divorced would fight over who got to keep the house. Each one expecting the winner could get rich from the rapidly appreciating Raleigh home prices. With the downturn in the real estate market couples are now fighting about how to dispose of their homes without both sides losing more than the marriage.
Raleigh Real Estate Marital Asset not Always an Asset
In an appreciating market it is easy to sell a home and split the proceeds allowing you to move on with your new life. It was also easy to refinance your Triangle property or take out a home equity line of credit and buy the other party out. Today’s lending guidelines have tightened, appraisals are no longer inflatable and the residential property has become a new major battle ground. Raleigh real estate is a hot potato neither spouse wants to hold on to.
Falling Raleigh Home Values Spell Trouble
Home prices across the country have fallen the past 24 months. Raleigh has not been hit as hard as some parts of the country but, the Triangle market is down and for many couples divorcing find themselves upside-down and facing another stress they had no way to predict.
We walk down the aisle, buy our first home together and believe our marital bliss will last forever. 60% of all marriages fail, 70% of all second marriages fail, if you add those percentages to the falling home prices it spells TROUBLE! Many couples facing divorce are finding themselves “upside-down” on their home mortgage. Meaning they owe more for the Raleigh home than it can sell for in today’s real estate market. If they bought their Raleigh home in the past two years and need to sell it now, they are in trouble. If they refinanced in the past 3 or 4 years and took their equity out, they are in trouble. If they took out a home equity line to pay off credit cards, go on vacation or buy a new car, they are in trouble. Many Raleigh homeowners facing divorce are in financial trouble. Divorce has enough stress and heartache of it’s own, now it has the negative effect of home equity to factor too.
Divorcing Raleigh Homeowners Have Options
In the past, the spouse keeping the home would refinance the home mortgage under his or her name. But if their home is worth less than your mortgage balance, you can’t refinance without coming up with a lot of cash. Many couples are abandoning their homes to foreclosure and damaging their credit for years to come. Others are living together as “platonic roommates” confusing distraught children and keeping everyone from healing and moving on. Some couples continue to share the mortgage payment and are waiting for the market to return. Depending upon how upside-down the mortgage is this could take years of payments. While all of these are options there are others that may be better and should be explored as well.
More Raleigh Home Options
Another home option is contacting your bank to see if they would allow you to negotiate a loan modification so you can keep the house with a more affordable payment. The other is renting your investment and waiting for it to be sold at a later date when the market is more favorable towards profit. When people are stuck in a house, so much gets put on hold and peace of mind is a lot more important than a piece of land. If all else fails and the marriage and Raleigh home can not be saved the best solution is a short sale. To learn more about dissolving a marital asset through short sale.
If you have any further questions or need help in navigating a sale after separation and divorce, please call me at 919.235.0007.