Front Porch Realty was recently invited to a special webinar presentation by Fannie Mae’s Chief Economist, Douglas D. Duncan. Of particular interest to us was Covid-19’s expected impact on our US and of course our local, housing industry.
To our surprise, and great appreciation, we have not seen a disruption of our sales at all from Covid-19 but we can’t help suspect that this huge un-expected disruption of our labor market will eventually trickle down to our housing sales industry and into our local sales activity. There is no doubt there has been in a surge in re-finances in 2020 as more and more homeowner’s have decided to stay in their current homes. Homeowners have had plenty of “home-time” to get all kinds of indoor and outdoor home-improvement projects done. Even if they might have been pondering selling this year, there is fear of where they will go as inventory in all price-points is low. This has added to the cycle of low inventory especially for those baby boomers entering into the home ownership market for the first time.
Good news, according to the Fannie Mae market experts, we should be back to the end of 2019 numbers by the end of 2021, of course we will have lost 2 years of usual growth. Unlike other “recessions”, Covid has hit very specifically. The service and entertainment industries were and continue to be hit hard but other industries have hardly been affected or even actually improved sales. Interest rates are expected to drop even lower in 2021 and most likely stay low for about 5 years. Housing demand will remain way ahead of supply for awhile, prices will continue to go up due to demand and rising building costs.
We want to send a big THANK YOU to one of our trusted local lenders, Shellie King of First Citizens Bank, for this special informative invitation. FRONT PORCH REALTY agents are always ready to help you make a decision about selling and buying a home, we are great listeners and advisers and we will always have your best interests in mind. We can sell all over the Triangle, NC region as well as the greater Wilmington, NC region however we SPECIALIZE in Fuquay-Varina, Holly Springs, Willow Springs, Angier and Lillington.
We can’t wait to help you get started today! Contact us HERE
6636 Whitted Road | Fuquay-Varina
This adorable ranch home is situated on 1.5 acres of land and has an attached basement. There are 3 Bedrooms and 2 1/2 Baths with an open floor plan, easy access from the living room to the kitchen/dining area. It gives the house a more spacious feel, great place for entertaining guests.
Towards the back you will find the gorgeous screened porch that is fairly large. It is definitely the biggest highlight of the home. Perfect for relaxing and hanging out with friends or family. You can sit back and enjoy the view of the whole yard. The backyard has a great amount of space, children would surely enjoy being outdoors and if they are interested in checking out a park you will find three that are close by. Only under half a mile away is Falcon Park, Action Park, and Library Park.
The home sits on a large wooded lot that backs up to the Bentwind’s Golf & Country Club, only a two minute drive from the home.
Offered at $299,000.
3552 Bainford Drive | Marcom Place | Fuquay-Varina
Ranch style homes have become more in-demand lately and it is not easy to find one with a good amount of yard space. This Marcom Place home has a spacious floor plan with a great yard to enjoy. The neighborhood is wonderful and sits right in Fuquay-Varina. It has an updated custom-kitchen with a wooded floor and granite counter tops. The appliances throughout the kitchen were recently upgraded making the home feel more like-new!
Towards the back of the home you will find yourself a spacious sun-room! A place for entertaining guests or simply relax enjoy some bird watching. It’s the most refreshing part of the home.
The home is merely right across from the Bentwinds Golf & Country Club. If you or a loved one enjoy a round of golf we recommend this home for you!
It’s not far from retail shopping areas and is about 12 minutes away from Downtown Fuquay-Varina. Then you will find local parks like Hilltop Needmore Town Park & Preserve, a great place for exploring; wooden paths, various plant species and natural bridges.
Offered at $340,000.
Dreaming of that vacation home on the NC coast? You don’t have to wait any longer, Front Porch Realty is now a member of the Wilmington greater area MLS! We have been helping our clients for years at the coast so we have finally decided to make it official. From Topsail Island through Wrightsville, Carolina, and Kure beaches down to Oak Island and beyond, we have you covered. We are ready to help make your coastal lifestyle a reality.
Wilmington is an incredible area to call home or own a timeless investment. Ever think about owning an airbnb? Have a student attending UNCW? There is always a traffic flow of visitors, tourists and locals.
The area has so much to offer and we’re not just talking about the beach. Take the time to check out their Historic Downtown area where you’ll get to taste fresh local seafood and regional specialties at locally owned restaurants and pubs. Go out on the town with family and friends, you will have the time of your life.
Then when you’re looking for more mellow activities to do, there are historic tours and cruises you can go on. You may come to find one that will take you across the river and aboard the Battleship North Carolina! Every second will be a new adventure.
Check out this amazing view of Wrightsville Beach!
Just adore the area? We can help you in the coastal areas as well as inland in the communities and beaches surrounding Wilmington and beyond.
Contact us today and we will get you started!
Fuquay-Varina is BOOMING with New Construction homes all over town. From spec designs ready for move-in to custom builds with options to add your own personal touch. Purchasing a new home has many perks and there is certainly no shortage of new homes in the Fuquay-Varina area!
Most importantly, you as a Buyer can have absolutely FREE representation for your new home community purchase. The on-site agents are working for the builders and cannot represent your best interests. Front Porch Realty Brokers are seasoned Buyer Agents that can help you every step of the way and look out for YOU! Be sure and let us know if you are interested in purchasing a new home and we will get you started!
Whether you are looking to be close to shopping for convenience or maybe being close to your child’s school is important to you, maybe you want a large yard or no yard at all, new neighborhoods are popping up all over so rest assured we can find you what you are looking for. Fuquay-Varina neighborhoods have walking trails, swimming pools, clubhouses, community gardens and so much more.
Here are a few of the many New Construction Communities in Fuquay-Varina:
CLICK HERE to check out the new homes available in Sunset Bluffs TODAY
CLICK HERE to check out the new homes available in Stonecreek TODAY
CLICK HERE to check out the new homes available in North Lakes TODAY
CLICK HERE to check out what’s available in Lake View TODAY
CLICK HERE to check out new homes available in Partin Place TODAY
CLICK HERE to check out homes available in Theys Mill TODAY
Front Porch Realty is here to help, Contact us for a free, no obligation consultation today!
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!
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
Tired of renting but not sure if you can afford to purchase a home?
Thinking of selling your home but not sure how to best prepare it for the market?
FRONT PORCH REALTY is having a series of “gathering info” meetings once a month just for you! No pressure environment for you to ask a few questions and get pointed in the right direction. Today’s market is busy and can be somewhat intimidating. We LIVE, EAT, and PLAY in our LOCAL market and we have the expertise to help you.
• Monday, March 25 6-7 pm
• Saturday, April 27 9-10 am
• Monday, May 20 6-7 pm
• Saturday, June 22 9-10 am
• Monday, July 22 6-7 pm
• Saturday, August 24 9-10 am
• Monday, September 23 6-7 pm
• Saturday, October 26 9-10 am
All sessions will be held at our Fuquay-Varina office located at 604 N. Main St., Fuquay-Varina, NC 27526
Register your attendance HERE
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
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