Buying a New Construction Home in a Development

Building and buying a new construction home in a development can be less risky than building on a stand-alone lot, however there are still numerous varieties and options to be aware of. Two Types of New Construction Developments Multiple Builders In this case, an independent developer purchases a large plot of land and subdivides it, and installs the roads, utilities, entrance, and amenities, such as a pool. He then auctions the lots off to a “builder

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Landscaping

Buyers keep looking until they fall in love. They are not looking for “a” home, they are looking for “the” home, their “dream” home. They are tired of seeing homes (9 out of 10) that are not ready for sale. They want a clean, fresh, move-in-ready home. Most do not want to do even minor projects. As a seller, you must understand the mind of the buyer and make buyers fall in love with your

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Painting Your Home to Sell

Painting your home to sell with market-friendly colors is an essential part to preparing your home for sale as a “move-in ready” property.  Fresh paint gives an overall new sense to the home while making it feel larger and more inviting. Sometimes home-owners use too many colors which chops up the home and can make it feel much smaller than it truly is.  We neutralize the color pallet and makes the home feel larger by

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Talking to a Mortgage Broker: Questions Asked & Documents Needed

Before talking to your mortgage broker, there are a few things you’ll want to have in order and some questions you will want to have thought about to make the process go as quickly and smoothly as possible. We at Hunter Rowe have compiled a list of basic information you’ll want to consider. Initial Contact What do you want your monthly payment to be? Use our mortgage calculator to look at payment options! Where do

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Different Types of Home Loans: FHA, Conventional, USDA, & VA

When looking at all the different types of home loans, the choices can be overwhelming. To help make sense of these options, we have narrowed down the 4 major home loan types: FHA, Conventional, USDA, and VA. They each have their own benefits and drawbacks, and are designed for specific circumstances. Take a look at the basic information for each, and talk to your mortgage broker for more information.[divider] 4 Major Types of Home Loans:

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Top Things to Consider when Buying a New Construction Home

New Home Construction Questions to Ask Whenever you are thinking of buying a new construction home, you have the peace of mind of knowing you will be the first owners. However, even new construction comes with a list of questions you should consider. After working with countless builders, agents, and home buyers, Hunter Rowe has created a New Home Construction Questionnaire that we think all new construction buyers should consider. Here are a few examples from

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Where Do These Beautiful Granite Countertops Come From?

When you are deciding what type of countertops to put in your kitchen or bathroom, there is a huge selection of materials to chose from: Granite, Laminates, Plastics, Glass, Quartz, Marble, Polished Concrete…the list goes on and on. Yet, for all the options that are out there, granite remains one of the perennial favorites. Why is that? One of the big selling points of granite is simply what it represents: Style and Quality. Historically, granite

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Tip #3: Walk the Neighborhood Before Making an Offer

Before making an offer and committing to purchase a home, take a few slow walks through the neighborhood at different times of day. Listen for barking dogs. Look for children playing if that is important to you (the law prohibits your broker from discussing “familial status”). Introduce yourself to a few neighbors, tell them which home you are thinking about, and ask them what they know. Neighbors love to talk and you might be glad

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Tip #9: Ask Two Key Questions in a Competitive Buyer Situation

Even in a challenging market, you could find yourself competing against another buyer for a low-priced property (see “Understanding Short Sales and Foreclosures” above). The listing agent is prohibited from disclosing details of any offers received, so she will ask both buyers to return with their “best and highest offer”. She will then choose one buyer with whom to negotiate a final agreement acceptable to the seller. When considering your offer price, ask yourself, “If

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Tip #8: Understand How to Determine the True Value of a Property

A home is worth whatever a buyer is willing to pay and a seller is willing to accept. An experienced, busy real estate broker, knows best how to determine the true value of a property because they are working with buyers and sellers in the current real estate market, and they have access to the best data (from the MLS). They will also correctly adjust for quality and feature differences. The second best valuation source is

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Tip #7: Understand Short Sales and Foreclosures

Today there are many more short sales and foreclosures on the market and as a buyer it is important to understand what exactly each of these terms mean. Short Sales A “short sale” is a situation in which the seller owes more on the home than it is worth, and does not have the funds to come up with the difference at closing. In North Carolina, the seller must disclose that it is a short

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Tip #6: Know Where to Find the Best Deals on Homes for Sale in the Raleigh Area

The best deals on homes for sale in the Raleigh area are homes listed at over $400,000 in the western part of Cary, the northern part of Raleigh, and any part of Wake Forest. These are the areas where builders added too much to the supply of housing in our market. This oversupply has decreased prices dramatically for both resale and finished new construction homes. The higher price ranges have decreased by larger percentages, so

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Tip #5: Understand DOM and $/SF

DOM is “Days On Market”. This number is important because the longer the home has been on the market, the more likely the seller is to accept a lower offer. Reports printed by your broker from the Triangle Multiple Listing Service (MLS) have two kinds of DOM. The first, LADOM, means “Listing Agreement Days On Market”. Listing agreements can be terminated and new agreements signed, agents can be fired and hired, and this number will

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Tip #4: Know Your Criteria

Here is a variety of options that may be included on your home criteria list: Price range Detached/Townhome/Condo Number of bedrooms Living area square footage Master down (Y/N) Number of bathrooms Geographic area School district(s) Acreage Age of home One story (Y/N) Lot type (corner/cul-de-sac) Flat lot (Y/N) Basement (Y/N) Number of garage bays Commute time to work Screened porch (Y/N) Fireplace (wood/gas) Fenced yard (Y/N) Exterior (brick/vinyl/etc) Community pool (Y/N) Golf course community (Y/N)

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Tip #2: Start Your Home Search Early

Most buyers purchase a home that does not match their original criteria 100%. It’s important to start your home search early because if you start looking too late, you might buy the wrong home. It makes sense to start looking and exploring long before you are ready to buy to give yourself time to learn and think about what you see. Your criteria for your next home will evolve and change as you look at

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