I am so proud to say I had a hand in selling one of this year’s Gold winners in the Wake County Parade of Homes. It is true gem built by Dixon Kirby in Oaks at Fallon Park inside Raleigh’s beltline. I have know all along that these are some of the most creative and thoughtful builders around and this home proves it. If you missed it, I hope you get the chance to see their work elsewhere.
Carrie Pitts Surti
Coldwell Banker HPW
The United States Congress is discussing a possible increase in the down payment required on an FHA loan. Currently, the government-backed FHA loan requires only that the buyer put down 3.5 percent of the purchase price, plus closing costs. There’s a proposal in Congress to raise that down payment amount to 5 percent. That’s why the National Association of Realtors is lobbying to keep the required down payment right where it is. Realtors are also asking Congress to consider keeping the current FHA loan limits permanent. Right now, they are set to expire September 30th. The limits now range from $271,050 to $729,750, based on 125 percent of the local area median home price.
The main barrier for most homebuyers is coming up with the cash to cover both the down payment and closing costs, though many sellers are chipping in or covering closing costs these days. As a potential homebuyer, you may want to consider getting into the market now, just in case some of these FHA changes do take place. Should Congress go through with the increase and changing the limits, it could put homeownership out of reach for many. It might be a good idea to get a grasp on your buying power, sooner than later!
I have made a lot of changes to my website and social media sites recently, in an efffort to help my past, current and future clients. I want to know if all of you find them useful. On my website, www.CarrieSurti.com, you can search all the listings in the Raleigh/Durham area, get information on buying and selling homes, as well as relocation information.
On my Facebook page, you can view all of my listings. see a market snapshot and read my blog. http://www.facebook.com/csurti
Would you check them out and let me know what I do differently to offer you the best information about the Raleigh area housing market? I would appreciate it.
As always, contact me if you need me.
Carrie Surti
Coldwell Banker HPW
If you haven’t seen it yet- the amended plan for the new Buffaloe Athletic Park is awesome! There will be an Aquatic Center with a competition pool and a dog park and most of the fields are already in place. There is one neighborhood that literally has a walkway to the park. I have sold several houses there and have one listed right now. There are other nearby neighborhoods that I have also sold in. The traffic might get a little worse, but the convenience of living in one of these neighborhoods with so much to do in this park will be amazing! Check out the plan below!
Taking a break at the Boylan Street Brewpub then heading over to look at these great condos at the Bloomsbury across the street.
Carrie Surti
Trusted Real Estate Advisor
Coldwell Banker HPW
Text me: (919) 389-6676
Surtic
Follow Me on Twitter @CarrieSurti
So there’s no more tax credit- now should you buy or sell a house? Yes! Why? Here’s my Top 10 List!
1. This is one of the best real estate companies in the country.
2. Raleigh/Durham rank among the Top 20 cities most likely to bounce back from the recession:
http://finance.yahoo.com/career-work/article/109518/20-cities-surviving-the-recession
3. Interest rates remain at an all-time low.
4. While housing prices are stabilizing, there are still some great deals to be had around the Triangle.
5. Coldwell Banker HPW is partnering with Towne Bank to help buyers get “Cash for Closing.”
6. 100% financing and ways to get help with down payments are making a comeback. I know of a few great programs other than USDA.
7. New construction supply is down to 13%- the lowest in 6 quarters- and builders are going to start cranking out more houses. This is great news for our housing market and the local economy- but it also means you could see an uptick in prices.
8. If you are selling, it’s still possible to make up a loss (if there is one) when you purchase your next home- through incentives, price reductions and those interest rates.
9. There have and always will be tax benefits to home ownership- even if it’s not exactly a check for $8000!
10. This IS the best place to live and work (in my humble opinion).
There’s not much time left to take advantage of the homebuyers’ tax credit, but you still have a shot! You need only be under contract by April 30th and you still have until July 1 to close. It’s not just for first-time homebuyers. Many move-up or move-down buyers are also qualified. There will never be another time like it. Home prices are stabilizing and interest rates are ticking up- so ACT now! Call me if you need me. I will be happy to answer any questions!
It’s that time of year again – March Madness – when we realize what it truly means to be a college basketball fan in the Triangle. Duke, UNC, NC State, and Wake Forest fans gather to watch the games. Which team do they want to see win it all or which team do they hate enough to see lose it all? It’s part of what makes living here so grand.
Personally, I want to give a shout out to my Winthrop Eagles for making their fifth tourney in 6 years. How badly I wanted them to beat NC State, but a trip to the Big Dance is good enough for me.
Last night, I went to dinner with my husband and another couple to watch the Duke/Carolina game. It was over in the first few minutes, but it funny to us that a poor bachelorette’s friends had planned her big night on this BIG NIGHT. No one was paying attention to her costume or the games they had planned for people in the bar. We were all watching the game.
The party left and I felt badly for her, but this whole idea of March Madness got me thinking. I am seeing a frenzy of a different kind, in the real estate market.
This month, I have 2 new listings coming on the market- both perfect for first-time homebuyers looking to take advantage of that tax credit. I am showing houses to several clients, also looking to take advantage of that tax credit. I will be hosting homebuyers seminar on March 18th in Midtown Raleigh. I am teaching 2 classes on blogging. I am starting a networking group just for professional women in our area.
I don’t say all this to talk about myself and being busy. I say this because I am seeing things really pick up in our market. We are and have been the best place to buy and sell a home- not just according to me- but most people who measure those sorts of things. I love this March Madness because it means great things for our local economy. I hope you join me in participating in some of the great things going on around here right now! And- GO TEAM!
Sitting onsite today at Avalon Springs in Fuquay-Varina. Beautiful homes built by Homes By Dickerson starting under $200k.
Carrie Surti
Trusted Real Estate Advisor
Coldwell Banker HPW
Text me: (919) 389-6676
Surtic@hpw.com
Follow me on Twitter @CarrieSurti
I feel like I have said this so many times it’s getting trite, but then again, what if people just are not getting the message? As I learned from my television days, someone must hear something a few times before they retain it, so here goes.
The government is giving you money to buy a house! That’s if you qualify! So who does?
-First-time homebuyers. This is categorized as someone who’s never bought before or even in the last 3 years. Of course there are income requirements, too, but a LOT of folks will fit into this category. They get $8000 that does not have to be paid back unless the home is sold in 3 years.
-“Move-up (or down) Buyers.” These are people who have owned their primary residence for 5 out of the last 8 years and are looking to buy another one. Income requirements here, as well. These folks get $6500.
Look, the numbers just aren’t going to work for everyone. For some people it just doesn’t make sense. But with interest rates at their lowest in years, why not try to crunch the numbers and figure it out? I can help you do a rough estimate for free! No cost, no obligation. By the way, at last check, 30 yr. fixed interest rates were at 4.875%. That’s unbelieveable!
So, here’s what I’m going to do for those of you who just want more answer or don’t even know where to start. I am planning a homebuyers seminar. Now, the details are not worked out just yet, but it will be one evening in March in north Raleigh and I will be sure to keep you posted. Stay tuned to www.TriangleLiving.info for more information! And as always, give me a holler if you need some help right away!
Carrie's Triangle Living Blog 