SELLER’S ARTICLES – FOR THE SMART CONSUMER Three Tips for Increasing Your Wake County Real Estate Home’s Value The best way to increase your home’s value before you sell it is to think like a buyer!  Think back to the time when you were shopping for a new home, or analyze your current experience if you are already looking for your next home.  As a buyer, what features did you look for?  What features attracted you to your current home and helped you to decide that it was the right one for you? When you think about the features that attracted you, remember that others will most likely find them attractive as well.  However, if you have owned your home for several years or more, it might be time to update some things in order to meet the growing demands of today’s home buyers. Curb Appeal Draws Potential Buyers to Your Home Anyone who has ever purchased a home will tell you that the first thing they noticed about the home was how it looked from the outside.  And they will probably also tell you that they drove past many homes before they found a few that piqued their interest. This is a commonly known fact among real-estate agents.  Buyers appreciate homes that sparkle on the outside and, once they’re drawn inside, they will be very excited to see what else these homes have to offer. Most of today’s buyers research homes online before they ever make that first drive.  The very first thing buyers are presented with online is a photograph.  Only after the photo has their attention do they begin looking at the details of what the home has to offer. Take a photograph of your home and look at it objectively, from a buyer’s perspective.  Do the lawn and gardens that are visible from the front of the home appear to be well maintained?  Is the roof in good repair? Are there any sagging gutters?  Do you see debris in the gutters?  What about the windows and exterior paint? If any of these items look like they are in need of some TLC (tender loving care), then they probably are.  Apart from the roof, these items are generally inexpensive to address. With only a small amount of time and money, you can improve your home’s appearance significantly. Consider hiring a professional landscaper in order to get your lawn in tip-top condition.  You may decide that your home would be more welcoming if the walkway to the front door were bordered with planters full of beautiful flowers.  If you decide to paint the exterior of your home, look around the neighborhood first.  Try to select a neutral color that will blend in nicely with the other colors commonly used in the neighborhood.  White is almost always a good choice, along with beige, grey or brown. Potential buyers can view your home more easily when it is bright inside.  Often this is quite easy to achieve.  Sometimes you can make your home brighter simply by lifting the shades, opening the curtains or cleaning your windows. Buyers Love New Kitchens and Bathrooms If you purchased your home in the 1970s, you may have loved the orange Formica that covers your countertops.  Likewise, the blue ceramic tile in the bathroom was probably just the right shade to match the towels given to you as a wedding gift.  Unfortunately, a potential buyer might not get quite as excited about the matching pink toilet and sink in the powder room. If you can relate to these statements, then consider updating your kitchen and bathrooms.  Although kitchen and bathroom remodeling projects are significant home improvements, buyers will be willing to pay more for your home when you advertise that it has a brand-new kitchen. Your real-estate agent can offer some suggestions about what buyers want in a kitchen or bathroom, and you can also ask friends and family members what they think would improve your home’s attractiveness. If your kitchen is small, look for a way to enlarge the space.  Removing a wall, or even cutting a wall in half to install an island or breakfast bar, could improve the space. If you decide to replace your cabinets, select light-colored, solid-wood cabinetry with quality hardware.  Consider a hardwood floor or ceramic tiles.  Today’s buyers appreciate natural materials and neutral decors. Don’t forget about the appliances.  Even if you do not plan to sell your appliances with the home, purchase new appliances when you update your kitchen.  Brand-new appliances sparkle, demonstrating your commitment to quality to potential buyers. A quick visit to a local home-improvement store will show you the latest trends for kitchens and bathrooms.  Pursuing a modern look is alright, but you will probably attract more buyers if you maintain a classic look achieved through the use of timeless, high- quality materials. Increase the Amount of Light, or at Least Create the Illusion Real-estate agents everywhere offer one piece of advice for improving the value of a home more than any other.  That advice is, “let in the light!” Potential buyers can view your home more easily when it is bright inside.  Often this is quite easy to achieve.  Sometimes you can make your home brighter simply by lifting the shades, opening the curtains or cleaning your windows.  Consider selecting some inexpensive fabric to use as a flowing drape to replace your normal, heavy curtains.  If your home is still on the dark side, consider applying a fresh coat of paint.  Clean white ceilings alone will probably improve the appearance and value of your home. Reflection provides the illusion of light, so a simple coat of white paint can help to create that illusion. If your walls are dark or covered in wallpaper or paneling, remove the covering in favor of a neutral paint color.  Much like curb appeal, increasing the amount of light in your home is almost always a relatively inexpensive way to boost the your home’s value for potential buyers. Improving the appearance of your home will significantly increase the amount that potential buyers are willing to pay for your home.  The three tips above are the fastest ways to increase the value of your home, and two of them require only minimal investment. By spending a few weekends improving your home in these ways, you can increase the number of buyers who will want to see the inside of your home.  Obviously, you do not want a potential buyer to be excited when looking at the outside of your home, but disappointed when looking at the interior, so consider a fresh coat of paint throughout.  Once the buyer has stepped inside, he or she will be pleased to discover the updated kitchen and bathrooms. A beautiful kitchen alone can sell your home. A modern, yet classy kitchen with the latest features can raise the home’s value significantly. Your realtor is prepared to offer suggestions for improving your home’s value before it is listed for sale.  Even if your home has already been listed, your realtor can make suggestions about things you can do to get more competitive offers. Depending on where you currently live, buyers may be attracted to specific home features.  Your realtor can point you in the right direction and help you prioritize the types of repairs and upgrades that will help you sell your home for the price you want.

Courtesy Jeff Dicks Real Estate Group Keller Williams Realty Raleigh NC

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So How are My Neighborhood Home Prices Doing?

I’d like to take a moment to personally thank all my readers as we are well into our third year of publication. Many readers will ask “Hey Jeff” How are home prices doing in Heritage Wake Forest NC? Well… it depends.  I wanted to re-introduce our Market Snapshot located on our home page of our main website www.JeffDicks.com and after a couple of clicks and filling in some blanks. Voila !! … You’ll have up to date and local MLS information sent to your e-mail inbox. It’s a great tool and as always we’re here to help you interpret the information and answer any questions you have. Check out the Market Snapshot for Raleigh Real Estate, Wake Forest Homes For Sale or Cary NC Real Estate Community Information.

Courtesy of the Jeff Dicks Real Estate Group

How to Find Your Raleigh NC Home Whether you are a first-time homebuyer or a seasoned expert, buying a home is a huge commitment in terms of time and money.  But, much more than that, the process of finding a home that perfectly fits your lifestyle should be fun.

Realtors know that buyers who get excited while looking for a home are more successful at finding the right home for their lifestyle and tend to enjoy the process almost as much as the realtors do.

Simplify the process of finding your next home in Raleigh by heeding these tips that will help you better enjoy the process of looking for a home and worry less about the nagging details that can derail the entire process.

Before You Start Looking… Sometimes potential buyers will decide that it is time to buy a new home when they drive past a for-sale sign in the lawn of a sparkling home in their neighborhood.  Perhaps this is the home of their dreams, but more likely it just makes them long for a change.

If and when this happens to you, take some time to consider what exactly you would include in your dream home if your choices and financial resources were unlimited.  Once you have put together this dream list, scratch off the items that you know are unrealistic.  Then make another list from the items that remain, grouping them into must-haves, would-likes and things it would be okay to have included.

Realtors’ experience shows that when such a list is created before beginning the actual home search, buyers do not have the opportunity to become enamored with a specific home that might not have everything that they are truly seeking.

Got Cash? Unless you can answer with a loud, confident “yes,” you need to research mortgage lenders, programs and interest rates well before beginning your home search.  Buyers who have determined ahead of time how much they are willing to spend, and how much they can borrow, are the most successful homebuyers.

Once you know how much money you can comfortably afford to put toward your mortgage payment each month, contact a lender to discuss the process of obtaining a pre-approval and loan commitment statement. 

Once you complete the application process and receive your pre-approval, ask the lender to make a loan commitment that will lock in your interest rate (usually as long as you purchase within 90 days) and provide proof of funding to a potential seller.

Realtors know that in most cases you will be unable to profit from your home significantly unless you are willing to make investments in it.  If you are purchasing a fixer-upper with the intention of making necessary repairs and upgrades and then selling the home for a much higher price, then you may indeed be able to make a profit…

Share the Wealth… …the wealth of information, that is.  By sharing your prioritized dream list with your realtor, you gain gaining access to all of his or her resources for matching you with potential homes.  Your realtor will be able to research many homes through a variety of different methods with the goal of finding one that suits your lifestyle perfectly.

Jump on the Highways… Yes, highways – and streets, roads, lanes, avenues, and boulevards, too!  You should drive through the area in which you would like to move in order to scope out potential homes for sale.  Getting a feel for the location, neighborhood, proximity to schools, and other factors will help you see first-hand what living in the area would mean to you.

And speaking of highways, now you can hop onto the information superhighway!  The internet is a fantastic tool that can help you find homes that meet your requirements from the comfort of your own home office.  You can access thousands of websites that list homes for sale, and you can also learn more about the area to which you plan to relocate.

Be Realistic… With housing costs are on the rise, some buyers choose to purchase homes in areas with appreciating property values in the hopes that within a few years they will be able to sell their home and generate a profit.

Realtors know that in most cases you will be unable to profit from your home significantly unless you are willing to make investments in it.  If you are purchasing a fixer-upper with the intention of making necessary repairs and upgrades and then selling the home for a much higher price, then you may indeed be able to make a profit.  However, if you do not intend to invest the necessary time and money in upgrading or renovating your new home, you should not expect a significant short-term increase in its value.

If you want to purchase a larger home than you might otherwise be able to afford through traditional lending, consider using a balloon or interest-only mortgage, but be aware that this is a risky proposition for buyers who are not prepared to make long-term sacrifices in order to satisfy their loan requirements.  Some buyers opt for this alternative financing in order to afford a home that is really beyond their grasp.  If this sounds like you, proceed with caution. Your realtor should provide the same advice. Even though your realtor earns income through commissions based on homes’ selling prices, it is his or her responsibility to look out for the client’s best interests.  You are no exception!

Consider the Value of Contingencies… When you are looking at homes that are attractive to you, realize that several other buyers may also be very interested in making an offer.  Therefore, you need to know ahead of time what you are willing to give up in terms of contractual agreements and obligations in order to make your offer as attractive as possible to the seller.

Your realtor can ask the listing agent whether the seller has obtained a pre-sale home inspection. If so, then you and your realtor can evaluate the legitimacy of the inspection report by researching the home inspector.  If the inspection seems accurate and the inspector is properly certified, then you might opt to waive the right to a home inspection.  You might also agree to allow the seller to remain in the home rent-free for a specific period of time after the closing. This is particularly useful when the seller is building a home or the closing is pending on his or her next home.

If you would like additional information about ways to improve your offer’s attractiveness to the seller, your realtor should be more than happy to share his or her knowledge and expertise with you.  Call to schedule a time to chat before you are ready to make an offer.

Good realtors pride themselves on being able to assist people like you in the process of buying and selling their home.  Years of experience have allowed them to understand what sells buyers on homes, and sellers on buyers.  Working together, your combined efforts should be enough to get you into the home of your dreams.

Most importantly, remember that the process of looking for your next home should be a fun and exciting time!  Being pre-approved for your mortgage and knowing exactly what you are looking for in a home make the process much smoother once you actually begin viewing homes.  Have fun and always remember that you can contact us at Jeff Dicks Real Estate with any questions or concerns that you might have related to any of the information presented in this article. Call us toll free 800-516-9507

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Well a Very Happy NEW Year to all my readers, supporters, clients and friends. It’s been a crazy year with travels to the home of the worlds largest oilsands deposits- Ft McMurray, Alberta. My father was inducted into the local Hockey Hall of Fame with the Ft McMurray Oil Barons as founder of the team. A proud son  I am. I can’t leave out the summer excursion with my wife and two terrific kids up to Torch Lake in Northern Michigan. If you haven’t been there add it to your bucket list. Simply a sensational lake and also ranked as one of the top lakes in the world.

Last but not least was the family event of the year to Disney World. Totally worth it. My kids had the time of their life. My son keeps wanting to back to the “Tower of Terror” he just turned 5.

As for us here at Jeff Dicks Real Estate have a fabulous 2012. We look for to helping you Buy or Sell a home here in the Triangle area of North Carolina. Check out the daily headlines for December 30th/2012

TOP NEWS • Spain to fire opening salvos in austerity drive Spain’s centre-right government will announce billions of euros in savings measures, using its first decrees since sweeping to power at November elections to give the nation a foretaste of tougher austerity to come.

• China’s factories falter, pro-growth policies eyed China’s factory activity shrank again December as demand at home and abroad slackened, a purchasing managers’ survey showed, reinforcing the case for pro-growth policies to underpin the world’s second-largest economy. • Colombia sells state-run power firm for $415 million Canadian-owned BCIF Holding Colombia S.A.S. has won a bid to acquire a Colombian state-owned power company for around $415 million, the country’s finance ministry said on Thursday. • HSH Nordbank sues Ally, JPM over mortgage losses German lender HSH Nordbank has sued several banks, including Ally Financial and JPMorgan Chase, over losses on $130.2 million in mortgage bond investments, according to court documents.

Very rarely do I have something at the tip of my tongue not be thankful for. The years continue to roll along and my kids continue to get taller as I shrink. I’m often reminded by my lovely wife Christine that we are very fortunate and as I like to say life gives you lemons if you continue to complain of life’s challenges.

I came across a snippet of Jon Gordon’s work today that I couldn’t help but share.

They are two words that have the power to transform our health, happiness, athletic performance and success. Research shows that grateful people are happier and more likely to maintain good friendships. A state of gratitude, according to research by the Institute of HeartMath, also improves the heart’s rhythmic functioning, which helps us to reduce stress, think more clearly under pressure and heal physically. It’s actually physiologically impossible to be stressed and thankful at the same time. When you are grateful you flood your body and brain with emotions and endorphins that uplift and energize you rather than the stress hormones that drain you.

Gratitude and appreciation are also essential for a healthy work environment. In fact, the number one reason why people leave their jobs is because they don’t feel appreciated. A simple thank you and a show of appreciation can make all the difference.

Gratitude is like muscle. The more we do with it the stronger it gets- Jon Gordon

Take note and you may just survive the holidays…….and beyond

Jeff Dicks

Jeff Dicks Real Estate

But while Canadian investors can get a glimpse of a wide variety of properties in the U.S., Europe and Brazil with the newly launched website, Canadian properties are not included.

The NAR said nearly 2.6 million international visitors searched for U.S. real estate alone on Realtor.com, with Canadians leading the list, followed by visitors from the United Kingdom, Germany, Australia and India. The international site, www.Realtor.com/International, launched last week.

The site will not only allow Realtors to offer their expertise and knowledge to a broader knowledge, but also bring buyers and sellers together on a more global scale, said NAR President Ron Phipps.

“Foreign buyers understand the value of owning a home in the U.S. and can rely on a Realtor because of their global perspective and understanding of different cultures and real estate practices,” he said. “This collaboration with Move.com is just one of many ways Realtors can expand and grow their business globally.”

With Canadians leading the surge in U.S. purchases by foreign buyers, much of the sales focus has been on warmer, coastal states recently. The NAR said Arizona, California, Florida and Texas accounted for 58% of all U.S. residential transactions completed by international buyers.

Visitors to the NAR site can search properties for 11 countries in 11 languages. Along with the U.S. and Brazil, the site offers listings for France, Italy, Portugal, Romania, Spain, Slovakia, Bulgaria, Croatia, and Serbia. Listings range from the multi-million price range to some homes for well under $10,000. A simple search variation allows prices to be listed in Canadian dollars.

Rentals are also offered on the site.

Canadian Real Estate- Editorial Team

Courtesy of Jeff Dicks Real Estate   View Triangle area Investment Properties

Do you know that the best time to post things to Facebook is 8am in the
morning?  What surprises me is that one of the worst times is 3pm.

Anyways,
on to Obama’s proposed refi program.  By the sounds of it this program might be
the ticket to getting a lot of people who are underwater refinanced.  The
question is will the guidelines be relaxed enough to allow borrowers to refi and
it make sense.  Remember in order to qualify for this program your loan will
have to be owned by Fannie or Freddie and it was transferred to them before May
31 2009.  So in other words if you bought or refinanced since May 31 2009 then
your loan will not qualify.  The final details will be out Nov 15th so I will
follow up once we get that info.  In the mean time you can check to see if your
mortgage is owned by either enterprise by going to Fannie Mae or Freddie Mac

In
other news the roller coaster continues in the markets.  After the EU meeting
yesterday they agreed to boost the bailout fund and struck a deal with private
banks to accept a 50% loss on Greek bonds…Wow!.  So even though job numbers
are not the greatest and earnings reports have been so so, just knowing EU looks
like they are on track to get their problem under control gave markets a nice
warm fuzzy feeling.  With that said, Stocks are up and bonds are down so rates
are back on the higher end today at 4.25% on a 30 yr fixed….more than likely
they will increase to 4.375% by end of day.  Until the next big announcement
comes it looks like we will be treading on the higher end of our rate
outlook.

Chris Blount AES Lending

Courtesy of Jeff Dicks Real Estate

North Carolina recently updated regulations pertaining to firms and individuals performing renovations, repair and painting for compensation, who disturb lead-based paint paint in housing and in child-occupied facilities built before 1978, to be trained and certified. To prevent childhood lead poisoning, they must follow specific lead-safe work practices when disturbing painted or coated surfaces containing lead.

Those individulas who perform renovations for compensation must also provide the pamphlet “The Lead Safe Certified Guide to Renovate Right” to owners, occupants, parents and guardians before beginning renovation work. The regulations apply to renovations in housing such as apartments, homes or in child-occupied facilities such as daycare centers, kindergarten and pre-school classrooms built before 1978

For more information on working with lead-based paint, finding a certified contractor performing renovation,repair and painting activities, contact the North Carolina Division of Public Health, Health Hazards Control Unit, Lead Based Paint Hazard Management Program @ 919-707-5950 or visit

Many folks are going about the home finding process backwards. They go through the entire process of searching, evaluating, and writing an offer on their home, WITHOUT being financially prepared.

Doing a few things up front, BEFORE you go searching, will save you a lot of money, time and hassles. What are those things?

First, find a MOTIVATED lender. One who represents many different products, and can offer you many options for making your loan most affordable.

Here’s an important tip: Ask your REALTOR to refer one or two lenders to you. Why? Because your agent has influence over lenders because they send lots of clients. It’s not just YOU alone talking to them.

After all, your REALTOR and lender both want to see the transaction close. There’s power in numbers and influence. Use it to your advantage.

Now, what you want to do is GET PRE-QUALIFIED with a lender. Better yet, try to get PRE-APPROVED.

Why?

Because the first question any home seller will ask when an offer is presented is “Is your buyer approved for a mortgage?”

And rightfully so! The seller doesn’t want the deal to fall through because you couldn’t get financing. When they accept your offer, their home comes OFF the active market. If you fall through, it costs them time and money.

If your looking for a new or re-sale home in the Triangle area of North Carolina. Please contact (more…)

Like it or not, there are a couple of guidelines bankers, and mortgage lenders use to determine how much loan you can afford.

One guideline is the Payment to Income Ratio. This guideline compares your income- or your total household income-to the amount of mortgage your considering.

To calculate the “payment” part of the formula, the lender will take the mortgage payment (principal & interest) and add it to Propeety Taxes and Insurance. Hence the term “PITI” (principal, interest, taxes and insurance).

Usually lenders will loan up to 28% of your total household income.

But before your home free, there’s something else you need to know..

It’s called the Debt to Income Ratio. Debt refers to ALL, the major monthly payments other than your mortgage (PITI). To arrive at this amount, the lender will consider…

Your car payment
Your credit card debt & payments.
Any IRS liens or payments due.
Any other payments and debts you have (boat, second home, etc)

Then they’ll compare your total debt to your ability to make current payments with your new home loan added into the equation.

Now here’s the “catch”. Each mortgage company sets diffferent limits on your Debt to Income Ratio, which it is critically important to find the right lender!

Don’t follow the “canned” financial advice like you see on TV. Most of the advice is “rule of thumb”, and designed for the lowest credit rating and the highest rates.

Think about this….

If you spend two or three days to find a loan that saves you $40,000 to $150,000 or more overs it’s term, your time is WELL WORTH SPENT! Doing a little homework on your own will literally save you thousands over the term of your loan.

If your in the market for a new or re-sale home in the Triangle area of North Carolina call us today at Jeff Dicks Real Estate – 919-793-4730

We look forward to putting our award-winning team to work for you

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