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.
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.
We are all excited to see our local economy up and running again, however our housing market is still facing many challenges!
The new market update shows us just how low our inventory of homes is; less than a 1- or zero-months’ supply across all price points. We included “Coming Soon” listings in our “Active” supply numbers, “Coming Soon” status means the home cannot be shown to any buyers yet, the owners are getting them ready for the market. Our local buyers are so desperate for a home they are buying them sight unseen, across all price points! As of this writing, we ONLY have 119 homes for sale currently in Holly Springs and Fuquay-Varina according to our local TMLS, and that includes any advertised new construction that may not even be built yet.
View our Q2 Market Update HERE.
Front Porch Realty has added 3 brokers to our office this year, including one at the North Carolina coast. We now have 12 professional real estate brokers to help you, your relatives, co-workers, employees, and neighbors. Please consider Front Porch Realty YOUR LOCAL go to real estate company. Don’t forget to LIKE US on Facebook and Instagram if you haven’t already! Let us know if you are thinking of selling your home, it is a fantastic time to maximize that equity!
Home Sweet Home at 218 Ballentine Street | Fuquay-Varina, NC
This vibrant cottage home has everything you need from an open floor plan to a gorgeous backyard! It has been newly-fenced and recently remodeled making the home feel like new. There’s a great amount of space between the living area and kitchen. No bumping into anyone as you walk around. Once you make it to the deck out back you won’t be able to resist how amazing the greenery is all around the home!
The current owners love the“landscaping and outdoor space, all the natural lighting that comes through inside the house and huge yard for entertaining guests!”
There is plenty of room to gather and relax on the sprawling deck. Downtown Fuquay-Varina is just a short walk for some dinner and shopping. When you’re home you will feel a great amount of privacy but due to the location you get to be close to town which it makes it so easy for running errands.
The home sold in 48 hours and is now UNDER CONTRACT but if you are in search of a home similar to this one contact us HERE. One of our real estate professionals can get you started on the process as soon as you’re ready!
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!
In Front Porch Realty’s 25 year history, there has never been a better time to sell your home than in today’s market! We have a low inventory of homes across all price points and an influx of buyers from all over the country. Super hot LOW interest rates are adding to our buyer pool as first time buyers strive to leave their high-priced rentals and apartments. Multiple offers within days, and even hours, way above list prices are fast becoming the “norm” at FRONT PORCH REALTY.
According to our latest Triangle MLS stats, our local inventory is down a whopping 80% from 2020 and our Days on Market is down 68%! Not only is Front Porch Realty selling our listings extremely quickly, we are also accepting offers way over list price with the buyers signing appraisal addendums willing to pay their offer prices regardless of what their lender’s appraised value comes in. Below is a snapshot of February’s 2021 Fuquay-Varina and Holly Springs MLS activity, courtesy of our local Triangle MLS.
Thinking about selling this year but not quite ready? Our “COMING SOON” option may be the perfect solution for you! Potential Buyers are able to get a “sneak peak” of your home before you are ACTIVE on the market ensuring a very quick sale with mimimum showing exposure of your home.
Find out what your home is worth HERE, no obligation, just info, we are LOCAL experts and are here to help!
Imagine moving to a new state and picking out your new home site unseen! That is exactly what some of our buyer clients are doing these days, but we recently had a special surprise Holiday love story we just had to share!
We got a call one day from a young man moving to the Triangle area from Massachusetts. He had found a 5 bedroom home online that he and his fiance were very interested in and wanted to know if we could “show” it to him while he was still out of state as he did not have any immediate plans to come to the area. Of course we were excited to be able to help him and as we were headed Holly Springs way he said ” you may as well face-time my fiance, she can pick out our home better than I can!”. So, long story short, we face-timed with Ms. Fiance and we got their dream home under contract for them and were on our way to closing.
When Mr. Massachusetts arrived the day before closing, we were a little nervous about meeting him at the house knowing he was closing on it the very next day but had not seen it in person yet! However, all went well at our walk through and we learned the cutest love story we have ever heard…
Ms. Fiance was not in Massachusetts with Mr. Fiance at all, she was in Arizona and would not be arriving in Holly Springs for another week! Mr. Fiance told us that they had been middle school sweethearts years ago but were broken up when they were caught kissing by Ms. Fiance’s mother! They remained friends all through school and college never to date again and would occasionally reach out to each other over the years however one of them was always in a committed relationship so they never had a chance to rekindle their young love.
One day deep into Covid-19 quarantine, Mr. Fiance had just been through a break up and vowed to stay away from relationships for at least a year. However, Covid social distancing gave him lots of time to think so he decided he would reach out to his long lost love. It was unbelievable, she was not in a relationship either and had also vowed to be on her own for awhile. They talked, and face-timed, and talked and face-timed some more and within 8 months learned they wanted to spend the rest of their lives together! They decided on Holly Springs NC and saw each other for the FIRST TIME in 17 years 1 week after they purchased their new home!
This is Jessica and Jereme reunited for the first time at their home in Holly Springs!
If you are thinking of a move to the Triangle area let us help you find your dream home too! Contact us HERE.
Merry Christmans and Happy New Year!
We all see lots of NEW HOME communities popping up all over Fuquay-Varina and Holly Springs so we wanted to take a few minutes to explain what it means to have a BUYER’S AGENT representing YOU when buying a new home. The good news is; it is absolutely FREE! Yes, you read correctly, having Buyer’s Agency representation in North Carolina means you have an agent on your side looking out for YOUR best interests and it doesn’t cost you a thing! Read all about NC Agent representation HERE. Everyone loves to look at new homes and the “on-site” agents are there to welcome you in and tell you all about what the neighborhood and builder has to offer. Just remember, the on-site agent is looking out for the BUILDER’s best interest, not YOURS.
The builder group is most likely going to require a non-refundable builder deposit, especially if you are starting the process from the ground up because the builder will be building a home specific to what YOU pick out. This deposit will be a credit towards the purchase price at closing, however if you don’t close on the home you will risk losing your deposit. The builder is also going to base your new home costs on expected pricing of the time of your construction, which most likely will be higher than was used for the existing inventory in the neighborhood. Don’t be surprised if your “custom pre-sale home” ends up costing much more than the inventory “spec” homes that are already in the neighborhood for sale.
The professional real estate brokers of Front Porch Realty are experts at knowing how to negotiate for YOU at a new construction neighborhood for an existing spec home or a pre-sale home. We can help you navigate through the builder contracts and negotiation process as well as the inspection process along the way to a smooth closing.
We also have many local trusted lenders that offer “Construction to Permanent loans” which takes some risk off the builder and may help you save money with your new home financing. In this situation the Buyer applies for the construction loan at the beginning of the build process and at a time of completion of the home the lender converts the construction loan to a mortgage.
Our area is booming with new construction! If you were thinking of buying a new construction home for the new year we are happy to help. We have worked with many local, regional, and national builders and have started Pre-Sales for our new custom homes in Fuquay-Varina for Purfoy Place. Pick out your perfect lot and build your dream home TODAY!
Come home to 2006 Prairie Ridge Court, Fuquay-Varina, NC | Crooked Creek
Get more privacy with this corner lot, magnificent two-story home. This is a wonderful community neighborhood. Homes in Crooked Creek are going fast, so don’t miss your chance!
When you walk in you’ll find an office space to your left and to your right another living space that may be used as a formal dining area. It’s a spacious home with room enough to accommodate those schooling or working from home.
Enjoy the spacious, open concept of the main living space, while appreciating the privacy of the study and designated dining room.
If you do happen to get tired of being indoors. Enjoy some fresh air as the backyard becomes an outdoor oasis! The home boasts a charming, screened in porch and patio that’s to die for. Can’t you just imagine yourself on the patio sitting by the firepit sipping a warm cup of cocoa?
In addition to being part of the Crooked Creek community, your family will enjoy the community pool and tennis courts! There is also a new town owned park only 5 mins away, Hilltop Needmore Town Park & Preserve. You’ll always have something to do within the area.
Another way to add to the home town feel is to enjoy one of our fantastic local restaurants, so we recommend trying out Zeera Indian Restaurant when you head towards Broad Street in Fuquay Varina. They have a variety of delicious Indian cuisines and you won’t be disappointed!
Offered at $395,000.
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