As we approach the New Year it is a great time to buy a new home. If sellers are listed at this time of year, you know they need to sell and there’s sure to be less competition when making offers.
Would you like to do a Rent vs. Own Comparison? Need to get Prequalified? Wondering what the current rates are? Interested in Prepayment Savings? All this can be discovered on my webpage, click here.
If you prefer to meet face to face contact me at 919-762-3502 and we can set up an appointment today.
I highly recommend hiring a realtor to help you. The seller typically pays the realtor and they work for you, helping you negotiate the contract and find the perfect home.
Happy House Hunting!
Senior Mortgage Banker/NMLS # 919284
First Citizens Bank
Introducing Mary Pickard Photography. Mary is the photographer who takes most of the pictures for our Front Porch Realty website. As you can tell, Mary is passionate about what she does, is talented and has over 35 years experience. We love having her on our team!
Check out Mary’s website to find out more about her, view more of her work, and how to contact her directly.
Mary is local to both of our office locations and has been taking our new listing photos for years and so it made sense that we would call on her when we were ready to launch our new website earlier this year! Mary was pivotal in the creation of the “Our Towns” page and highlighting all that our wonderful towns have to offer. She’s always willing and ready on a moments notice to take our new listing photos as well photos of new businesses in town, so all can be added to our website quickly.
No one sells Fuquay-Varina and Holly Springs like Front Porch Realty!
By now, you’ve heard Front Porch Realty’s exciting news; we have elevated our brand and we have a new custom website! We are still the same “Front Porch Realty” you have known for years but have begun to concentrate our business in Fuquay-Varina and Holly Springs. We are already the #1 Independent real estate office in these two towns and our goal is to become the #1 real estate company overall. We want to become top of the mind status for you and all things real estate!
Here is our quarterly 1st Q 2018 snapshot of our local housing inventory. We are still deep in a seller’s market, especially for re-sale homes; new home inventory is up 17% across the Triangle while re-sales inventory is down 15% from the 1st quarter of 2017, according to our Triangle Multiple Listing Service 1st quarter market stats. This imbalance of supply is causing record increases in sales prices; average sales price of new construction is up 9% and average re-sale homes sales prices are up 10%. Inventory is still low on our end of the county and demand is high. As we can see from our 1st quarter local data, months of inventory are very low at most price points at less than 2 and units sold have increased across both markets.
We are here to help you, your relatives, co-workers, employees, and neighbors. Please consider Front Porch Realty as YOUR LOCAL real estate professionals!
Front Porch Realty chatted with local veteran lender Alex Macklin about finding the right mortgage for your needs. Alex has been a community leader in Fuquay-Varina and Holly Springs for over 20 years and is wonderful at explaining the mortgage process to our clients.
Finding the right mortgage financing program for your new home or construction/permanent project can be complex. Allow me to navigate the complex mortgage products for you and tailor the best financing option for your needs.
With over 20 years of experience in the mortgage business, I can help connect you with the right resources to ensure a positive experience.
From the first-time buyer to the seasoned buyer and even the person who wants to build a new home, I can help prepare you so that you enter into the home buying/building process with confidence.
I encourage clients to take advantage of my free loan pre-qualification service and to make this your first step in the home buying process. The Real Estate market is blazing hot right now and there are multiple offers coming in for most homes on the market. It is important to have your ducks in a row when you are ready to make an offer so that you can increase your odds of having the winning bid. Most purchase offers must be accompanied by a loan pre-qualification letter to ensure that you are a serious and qualified buyer. Don’t lose your opportunity to buy the home of your dreams by skipping this important first step.
Since 1950, United Community Bank, “The Bank That Service Built” has provided our clients with the service level of a community bank but with the resources of a larger bank. UCB offers all of the standard Conventional, FHA, USDA and VA loan programs but we also offer niche portfolio products that help us offer financing to a broader client base.
One example is a cost savings single-close construction to permanent program for clients who wish to build and finance a new home. By closing the construction and permanent loan at one single attorney closing, there are no additional fees at the end of the process. The program also allows for a one time float down option on the interest rate when the home is complete so you can capture the best rate the market has to offer while at the same time receiving rate protection during the construction period.
Other unique product offerings include:
• Conforming and Jumbo Portfolio loans
• Special 100% financing programs with no Mortgage Insurance for Medical Doctors and Dentists
• PATH affordable housing program for the purchase of an owner occupied primary residence with 100% financing, fixed interest rate and no mortgage insurance for certain census tracks within United Community Bank’s footprint
Join me and the team at Front Porch Realty to make homeownership a reality!
Vice-President/Sr. Mortgage Loan Originator
United Community Bank Mortgage Services
325 N. Judd Parkway, Suite 200
Fuquay-Varina, NC 27526
Website: United Community Bank
Real Estate brokers have sometimes been accused of “shortening our words” or using terms that we think everyone already knows! So, here’s a little helpful guide, if you have trouble navigating real estate terminology!
What it says versus What it means
conveys with sale … it will STAY with the home
EIK … eat in kitchen
SS … stainless steel
HDW, HWF, Hdwd ….. hardwood floors
FDR ….. formal dining room
MLS...multiple listing system
FSBO ….. for sale by owner
Pre-approval … based on information you are able to provide to the lender. This will look much better than a pre-qualification to the seller.
Pre-qualified …. based on a 5 minute phone call to the lender and only on what you tell the lender. This is needed in order to even make an offer on a home.
due diligence funds …the funds the buyer gives the seller at time of contract to “buy time” off the market while they do their due diligence
due diligence or DD…all of the inspections and loan process, etc a buyer can exercise on a prospective home during their due diligence time period
Due diligence money- is non-refundable The good news is the money is typically credited towards the purchase of the home at closing.
Earnest money is “good faith” money. The buyer is showing the seller they are serious about buying the home.
contingency … a contract on a home that is dependent on you selling your existing home
3 BR/2BA 3 bedrooms and 2 baths
I’m sure we’ve missed a few, feel free to leave comments with any you might still be wondering about and we’ll do our best to define them.
We are here to help you navigate your real estate needs and ALL the terms that come along with that!
FRONT PORCH REALTY has exciting news; we are the #1 LOCAL Independent Real Estate firm in southwestern Wake County!
See our 3rd quarter local real estate market snapshot . It is no surprise that we are still in a seller’s market; inventory is still extremely low across the Triangle. Know that in this competitive market, Front Porch Realty brokers are equipped with professionalism and the expertise to help both our seller and buyer clients navigate multiple offer situations. If we can be of any assistance to you or someone you know, rest assured they will be extremely satisfied.
Please watch our website, Facebook, and Instagram for all housing, and other local news around town and to see our new listings as soon as they hit the market.
If you would rather receive this report either by email or snail mail please contact Laura .
Broker/Owner Front Porch Realty
Here is Front Porch Realty’s quarterly local real estate market snapshot. Mortgage interest rates and Triangle demographics are still causing a major shortage of homes in the Triangle as well as our end of the county. Sales prices are up a healthy 6-7 % across the Triangle with our average sales price about $300,000 and average days on market 36 days. We are still experiencing frustrated buyers in the under $300,000 price range at our end of the county with days on market being reported in hours, not days.
Check out our 2nd quarter numbers here: 2nd Quarter 2017
Here’s another view of the market in Durham, Johnston, Orange and Wake counties from the Triangle MLS.
As you can see from our numbers, if you are considering selling your home and believe it would fall below that $300,000 price point, now would be a great time to sell! Give us a call today!
FRONT PORCH REALTY continues to grow and provide the existing residents of Fuquay-Varina, Holly Springs and our bordering counties as well as the new residents looking to make our area home, a strong professional sales team. Please watch our Facebook and website for all of the housing news around town and to see our new listings as they hit the market.
Welcome Home- Laura
This week we have a “Guest Post” written by one of our Mortgage Professionals, Jennifer Miller with Sierra Pacific Mortgage Company.
To Buy or Not to Buy?
You’ve heard the news reports on the housing market in our lately – low inventory, good prices, quick sales – and maybe you’re wondering where you fit into this latest market swing.
We should probably start with the news reports. Yes, it’s true that in some price ranges, namely homes priced under $300,000 there is low inventory. The same cannot be said for higher priced homes, especially those priced above $500,000; there are still plenty of homes available at that price point. And yes, the appraisals are coming back at reasonable levels; meaning that in many cases the appraised value and the sales price are matching up; although that’s not always the case. As far as quick sales, well that depends on how you define “quick”. Most people are closing in the normal 30 to 45 day range.
When you’ve got a home to sell…
So, should you pursue your dream home, or the home that’s closer to work so that you can eliminate that 45 minute commute you face twice daily? Putting your house on the market requires effort, commitment and sometimes, money.
The effort and money come in once you’ve had a Realtor to your home for a preliminary meeting. The first order of business is deciding whether you feel comfortable listing your home at a price comparable to what other homes in your area are selling for. If the answer is yes, then it’s likely that your Realtor will want you to change or improve your home in a few areas. You may need to “de-clutter” and pack away your belongings that you’re not using every day to make the home appear larger. You may be asked to paint, install new carpet or work on the landscaping to improve the homes’ curb appeal. Depending on how handy you are; you may be able to do some, or all of those things yourself; without having to pay a professional. Certainly, that is the least expensive way to go. If you can’t do these things on your own or if you’re too busy to attempt them you may find yourself shelling out up to $2,500.00 to cover these costs.
This is where the commitment component kicks in: if you’re not really committed to selling your home, chances are that you’re not going to be very motivated to get all this work done. Realtors are fairly savvy these days when it comes to assessing their clients’ needs and wants. If you want a nicer home but you don’t really need one your Realtor may decide that you’re not the right client for them.
What if you’re not currently a home owner?
Maybe you’re a young professional who’s never owned a home before, or maybe you owned a home previously in another state or at a different time in your life. If you’re wondering whether a good time to buy is now, the short answer is yes!
As I said at the beginning there is some low inventory with homes priced under $300,000.00; however, if you don’t look for a home then you surely won’t fine one, and there are homes to be found even in that price range. So what else do you need to consider in a home purchase? First, do you have enough money to buy a home?
The Price Tag…..
There are several loan programs available that will get you into a home for zero or a very low down payment with reasonable interest rates. But you will need to have some cash to cover expenses like the appraisal ($450) which is paid upfront and out-of-pocket in the home buying process. You will also need money for closing costs, which come due on the day you sign the promissory note at closing.
If you don’t have enough cash to cover the closing costs, talk to your realtor about negotiating these into the sales contract. There is an easy way to handle this scenario. Let’s say that you want to purchase a home that’s listed at $187,500.00. You would like to pay $185,000 for the house and you know that you need $5,000 to help cover closing costs. Simply ask your Realtor to write the offer to purchase for $190,000 with the seller paying $5,000 in closing costs.
Show me the Money…
But how do you know how much closing costs are going to be? And, how do you know if you earn enough money to be able to qualify for a mortgage loan to begin with? Now we come to the crux of the matter. The best way to answer these questions is to call me and start the application process. With just a little information, I can quickly see if you can be prequalified for a mortgage loan. I can also make sure that you’re taking advantage of the best loan programs available.
Home-ownership is part of the American dream; and with interest rates still at historically low levels now is a great time to explore your options. Call me today and let’s get started on getting you into the home of your dreams!
Sierra Pacific Mortgage Company
6736 Falls of Neuse Road Suite 120
Raleigh, NC 27615
Sierra Pacific Mortgage Company, Inc. NMLS # 1788. Licensed in North Carolina L-127865. Sierra Pacific Mortgage Company, Inc. is not affiliated with the Real Estate Agent and/or Brokerage identified in this advertisement, you are not required to use Sierra Pacific Mortgage Company, Inc. to obtain mortgage financing. This advertisement is provided for informational purpose only. www.nmlsconsumeraccess.org. Not all borrowers will qualify. This is not a commitment to lend. [Insert and program and/or additional disclaimers]. Equal Housing Lender.
To FSBO or not to FSBO, that is the question…
It’s no secret that the Triangle Area Real Estate Market is busy. Why not just be a For Sale by owner and save a little cash?
We can totally understand why a NC Homeowner might be enticed to sell their real property “on their own” in this busy Real Estate market. You have worked hard to build up the equity in your home…why give it all to an agent?
From Larissa, a recent FRONT PORCH REALTY Seller Client ” …Selling you home is always stressful but working with a professional real estate professional ensures that the process goes as smoothly as possible and that your best interests are kept in mind while your home is being marketed and sold so that you can get the highest return on your investment…”
Did you know it is illegal for anyone in the state of NC to pay a “referral fee” to a non-licensed person? Yep, it is actually a felony. It’s better to avoid this and stay out of trouble!
We sell real estate FULL TIME and we have a professional state license to do so. We are experts in this Market and we want to work for you.
So…why not leave it to us?
Who needs a Buyers Agent Anyway? I just want someone to show me a house! Do I really need an agent “on my side”?
The answer is ABSOLUTELY!!!
Thankfully, for the homeowners and perspective homeowners of NC, the NC Real Estate Commission has given us AGENCY. This means when a consumer wants to buy and/or sell real property in our state, they can be represented in various ways by a real estate broker.
Did you know that having a buyer’s agent represent you is 100% FREE. Meaning for anyone entering into a Buyer’s Agency Agreement with a Front Porch Realty Broker, we don’t charge a single fee!
That’s right, you can have a professional agent working for ONLY YOU when you purchase a home for absolutely no cost. And we highly recommend hiring one, here’s why:
Not only is your Buyer’s Agent going to assist you in finding the perfect home for you, they are also going to help you make an informed offer and strategically negotiate that offer because we know what it takes in our current competitive seller’s market of today to get YOUR offer accepted. Once you are under contract for your new home, we are seasoned in getting you through the entire due diligence process and on to closing.
A recent Front Porch Realty Buyer client, Molly explains “…when buying a home, it is very important to have an agent on your side because they are able to guide you and inform you of all of the possible situations that are important to investigate about a possible property. If we didn’t have a Buyer’s Agent with our last home we wouldn’t have ever taken the extra steps in researching the property… because we just didn’t know what we didn’t know!”
Interested in buying a home? Contact FRONT PORCH REALTY today and let us work for YOU!
Front Porch Realty is An Equal Opportunity Company, Equal Housing Opportunity.
Information Not Guaranteed. Listings marked with an icon are provided courtesy of the Triangle MLS, Inc. of North Carolina, Internet Data Exchange Database.©2019 Front Porch Realty