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Friday, July 30, 2021

New custom build homes have become a HOT topic throughout the triangle and we highly recommend having a buyer’s agent behind your back. Teresa Ennis and Laura Moody talk about how, yes, we would want you to be able to look through these new neighborhoods but you must be cautious. The on-site agents try to convince clients to use them instead since they are with the builder. What they don’t tell you is that they represent the builder so they aren’t thinking of what’s really best for you. With a buyer’s agent they try to take into consideration all the factors that would better help you in the building process!

When you start your new home build, be sure to have inspections and a surveyor to ensure no issues may arise in the near future. Things can be easily missed during construction and you would not want to deal with that later on. Front Porch Realty has years of experience and have a good idea on what these builders are like for these new communities.

View Teresa and Laura’s video chat HERE.

If you are looking for some great support in your search of a new construction home, our real estate professionals are happy to help get you started!

Contact us at 919-577-0175 or learn more by sending us a message HERE.

Tuesday, July 27, 2021

FRONT PORCH REALTY agent, Donya Clark and FRONT PORCH REALTY Owner and Broker-in-charge, Laura Moody, recently had a discussion about appraisal addendums and how they’ve become quite important when putting in an offer. The market is tough for our buyers right now and FRONT PORCH REALTY agents understand the challenges of putting in a winning offer!

Multiple offers are being submitted for homes these days, often at sales prices much higher than what we believe the homes will appraise for. The buyer’s lender will NOT loan more money than the value of the home is worth and this is determined by a licensed real estate appraiser. To assure the sellers that you will not use a low appraisal to try and re-negotiate your terms, an APPRAISAL ADDENDUM can be added to the Offer To Purchase. This attorney written addendum lets the homeowner know the buyer is willing to pay their offer price regardless of what the home appraises for. In other words, the buyer has the cash difference available to bring to closing if the appraised value ends up coming in less than their offered price.

Watch Donya and Laura’s video chat HERE.

All of our FRONT PORCH REALTY agents strive to make buying a home a positive and professional experience for you. With interest rates at all time lows, its a great time to purchase a home, just make sure you have an agent on your side, Buyer’s Agency representation will not cost you a thing at FRONT PORCH REALTY!

Begin your home search now by calling or messaging our Agent on Duty today!
919-577-0175 or send us an email HERE.

Wednesday, June 9, 2021

It’s certainly no secret how CRAZY the housing market is across the nation and our little neck of the woods is certainly no different!  Our current housing inventory is super low so we thought we would share a few thoughts and tips for getting a seller to say YES to YOUR offer!

The “norm” has always been to include a pre-qualification letter with your offer, but now we need a pre-APPROVAL letter.  This basically means all of your numbers have been verified through actual documents that you have provided to your lender and your file has been through preliminary underwriting. If you have cash, which is getting much more common in this market, we will need “proof of funds” from your lender.  Speaking of your lender, it is much more preferable to use a LOCAL one.  Our local lenders know our market and the norms for lending on the homes in our market, they will also be ordering appraisals from local appraisers which certainly can make a difference for an opinion of value.

Your offer needs to be super “clean”, and by that we mean; do not ask the seller for ANYTHING…not to pay for any of your closing costs, not to buy you a home warranty, and especially not to do anything out of the ordinary like cutting down the big tree next to the driveway.  Offer a quick closing and offer for the sellers to rent back from you, preferably for free, or whatever will make it more convenient for them.

You would think the seller will most likely want to accept an offer that nets them the most money, however this is not always the case.  Having a professional, experienced, buyer’s agent is super important in this market.  Your agent will guide you through the terms for your offer to help make it the most favorable. They will also be able to professionally communicate to the seller’s agent your personal situation and how “easy” of a transaction they vow their buyer will be.

Finally, and this is a big one, be prepared to put down a sizable due diligence deposit with your offer. This is non-refundable, albeit a credit at closing, funds straight to the seller while you are getting your due diligence done. Essentially you are “buying time off the market”, so if you are serious about wanting to purchase their home it better be worth it to the seller. This number is ALMOST as important as the sales price because it is going to tell the seller how serious you are and whether you are likely to terminate your offer prior to closing.  It is not unusual to see $10,000-$25,000 of due diligence being put down with an offer these days.

With all this being said, are you thinking of selling your home?  Now is the time to do it!  Be sure you have an experienced, professional, agent to help you out so you don’t leave any of your equity on the table!   I promise you, the right agent on your side will net you the most from your sale with the least amount of headaches!

We have numerous Real Estate Professionals here at Front Porch Realty who are happy to talk you through the process! They can get you started on that home search once you’re ready to go! You can call now at 919-577-0175 to speak with the agent on duty TODAY!

Hope you all have a happy Summer!

 

Thursday, May 7, 2020

We thought we would take a few minutes to explain the due diligence process and why a buyer in North Carolina has to write two checks when they make an offer on a property. If you would rather “watch” this explanation than read it, just skip down to the videos below.

Once you and your agent find the property that you are ready to write an offer on your agent is going to ask you to write TWO checks; one to the seller and one to the closing attorney or escrow agent. The first is a due diligence (DD) check and is typically 1/2 % – 1 % of the sales price. This check is written straight to the SELLER and it is exactly what it sounds like; funds to the seller so that you can complete your “due diligence”. During this due diligence period we will help you arrange any inspections you want to have done; including but not limited to a home inspection, a radon inspection, well and septic inspections, lender appraisals, surveys, etc. Per the contract, you are able to terminate your Offer To Purchase ANY time during your due diligence period for ANY reason. Contracts are no longer contingent on home inspections, your loan, or even another house closing. If you as a buyer choose to exercise your right to terminate you dont even have to give a reason, it may even be because you found another house you like better. However, your due diligence funds will not be returned as they were given to the seller at the time of contract to “buy time off of the market”. The seller has lost valuable time off of the market while you were doing your due diligence for their home. However, if you do indeed go to closing on the home, this DD amount is a credit to you at closing.

The second check you will need to write, either at the time of your offer, or if negotiated may be at the end of your due diligence date, is an earnest money deposit (EMD). The EMD says to a seller that you are “earnest” about purchasing their property. This EMD is also typically 1/2 % – 1 % of the sales price, but can be negotiated just like the DD amount. The EMD check is not written to the seller but to the listing company’s trust account, or more commonly to the trust account of the closing attorney that is spelled out on the purchase contract. It is held in escrow until the property either goes to closing or the contract is terminated. If the buyer chooses to terminate the contract in their DD period, per the contract the EMD will go back to the buyer. However, if the buyer ends up terminating the contract AFTER their DD period is over, per the contract, the seller will receive the EMD. This is considered damages to the seller for the buyer breaching the contract, however it does not negate the possibility for any other legal remedy the seller may take for such breach. We like to call the DD date of the contract the “pack up” date for the seller, as they can be assured the buyer has completed their due diligence process and is heading to closing. In addition, just like the DD funds, this EMD is a credit to you at the closing table.

We hope this helps explain why Buyers have to write these checks when they are ready to make an offer on a home. We know this can be a scary and stressful time however Front Porch agents are poised to help you make your home purchase exciting and fun and will help minimize your stress. Having a Front Porch Realty Buyer’s Agent is always absolutely FREE, learn more about Agency relationships in North Carolina HERE.

Contact us today to get started with your home search!

Friday, January 17, 2020

Happy New Year!

As the Owner of Front Porch Realty with 24 years of selling SW Wake county real estate, I take an in depth look at our local real estate market every quarter. You can view our 2019 Year-end Market Update HERE. Volume of homes sold has increased across the board as expected, however we saw a slight shift of new construction homes sold towards a more balanced market. Average sales prices have increased about 4% resulting in our average price per square foot in Wake county $130-$140 for re-sale homes and $140-$150 for new construction homes. We saw little or no change in the average days on market across the board, in our area homes are going under contract in about 30 days or less.

It’s a great time to buy and sell in Holly Springs and Fuquay-Varina! If you are thinking about selling “the easy way” to Zillow, Open Door, etc PLEASE talk to us first. These companies typically charge 8-10% commission on top of leaving lots of your equity on the table. There is a reason these investment companies want to buy your home! I promise we will take care of all of the details for you AND it will cost you much less. In addition, if you are out there looking at new construction homes, be sure and utilize our FREE Buyer’s Agency. The on-site agents at the new construction neighborhoods represent the builders and look out for THEIR best interests, not yours. Why not have an agent on your side? Learn more about NC Agency HERE.

We will be hosting the Fuquay Varina Chamber Business After Hours event on February 13th at our Fuquay Varina office, please SAVE the DATE we would love to see you there. The Fuquay-Varina Chamber of Commerce will be honoring our elected officials and presenting the quarterly Excellence in Education award.

If you would like my quarterly market update delivered to your inbox, let me know. In addition, if we can be of any assistance to you with your real estate needs, I am certain you will be extremely satisfied with any of our Front Porch Realty real estate brokers level of professionalism and expertise.

– welcome home, laura

Wednesday, December 5, 2018

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!

Shellie King
Senior Mortgage Banker/NMLS # 919284
First Citizens Bank

919-762-3502

Wednesday, September 26, 2018

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!

Monday, April 30, 2018

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!

Wednesday, April 11, 2018

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!
Alex Macklin
Vice-President/Sr. Mortgage Loan Originator
United Community Bank Mortgage Services
325 N. Judd Parkway, Suite 200
Fuquay-Varina, NC 27526

Phone: 919-586-3115
Email: alex_macklin@ucbi.com
Website: United Community Bank

Wednesday, December 13, 2017

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

WIC …walk-in-closet

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

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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!

Welcome home!

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