This is a premier cul-de-sac lot in Prestigious Hardscrabble Estates. Approximately 5.5 acres, this lot is wooded with water running through it. The price has been amazingly reduced to $113,000!!! It will be tough to find a lot this nice anywhere else for this price!

Click here for complete details:
http://www.teamjodi.com/property/8-Finchley-Court-Hillsborough-North-Carolina

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Click here to view Team Jodi's Chapel Hill and Durham Homes for Sale

Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill and Durham Homes for Sale

Description	1Q 2008	1Q 2009	% Change
Durham County
Number of detached sales	617	473	-23.34 %
Number of condo sales	105	60	-42.86 %
Number of townhouse sales	19	9	-52.63 %
Number of new construction sales	115	171	48.70 %
Number of re-sales	626	371	-40.73 %
Average detached sales price	$213,115	$219,969	3.22 %
Average condo sales price	$160,278	$159,625	-0.41 %
Average townhouse sales price	$250,811	$256,389	2.22 %
Average new construction sales price	$219,749	$225,755	2.73 %
Average re-sales price	$204,188	$208,427	2.08 %
High Sale price detached	$2,100,000	$1,500,000	-28.57 %
High Sale price condo	$380,000	$485,000	27.63 %
High Sale price townhouse	$785,500	$677,500	-13.75 %
High Sale price new construction	$645,000	$800,000	24.03 %
High Sale price re-sale	$2,100,000	$1,500,000	-28.57 %
Average Sales Price for the entire area	$206,586	$213,894	3.54 %
Number of Listings for the entire area	2329	1910	-17.99 %
Average List price for New Construction for the entire area	$291,329	$296,885	1.91 %
Average List price for Re-sale for the entire area	$231,239	$240,815	4.14 %
Average List price for the entire area	$246,023	$252,176	2.50 %

Source:  TARR Reports, Durham Market Snapshot

You are probably aware that as part of the stimulus plan, Congress passed legislation that provides up to an $8,000 tax credit for first time home buyers who purchase a home between January 1, 2009 and December 1, 2009.

This was great news when it came out.  On May 12^th, the use of the tax credit just got better.  The Secretary of the U.S. Department of Housing and Urban Development has specifically stated that, “the Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a down payment.”  According to Secretary Donovan, “FHA approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans.  This will allow eligible home buyers to access the funds immediately at the closing table.”

This is huge and could be a tremendous help to First Time Home Buyers.  In the Chapel Hill Real Estate and Durham Real Estate market, this covers FHA borrowers up to a $334,000 purchase.  If a first time home buyer uses the $8,000 tax credit as closing costs, it could take their closing costs down to ZERO.  That is awesome news!

If you or someone you know someone could benefit by this information, please pass it on.

Receive FREE email alerts of new bank-owned properties for sale in the greater Chapel Hill, Durham and greater Triangle area.

Find bank owned properties in Chapel Hill, Durham, Hillsborough (Orange County), Pittsboro (Chatham County), Raleigh, Cary, Apex, Wake Forest and the surrounding areas!

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For more information on the $8,000 tax credit, who qualifies and the time period for the credit, see my related blog post.

I have been in the business 11 years and I have never seen a rate below 4%.  This is amazing.

If you want more information about this, let me know.

Most home warranties can be initiated at the time of listing the home and therefore provides coverage to the seller during the time it is on the market.  It is amazing how many things can go wrong when you decide to sell your home.  Invariably, a toilet will leak, the dishwasher or microwave will break or the air conditioning or heat will stop working.  For a modest co-payment, typically $50, the home warranty company will send out a technician to fix the problem.  In those cases where things are broken beyond repair, they may even replace the item. 

Now, we all know home warranty companies are insurance companies and they like to fight claims.  As the listing agent that uses home warranties all the time, this gives you leverage to work on your sales agent to get the job done.  It is amazing how well this works!

In addition to the above, home warranties really do work as great negotiating tools.  For example, when items are brought up on a home inspection, and there is a transferable warranty in place, the seller can often times negotiate fewer repairs.  A few months ago, I had a transaction where the house had a septic system.  When the repair request came in, my seller actually refused to make any repairs because they had given the buyer a good sum for closing costs and they threw furniture into the deal.  It was now up to me to make this deal work!

Thankfully, there was a home warranty in place and I was paying for it to transfer to the buyer at closing.  I learned that the most important thing to the buyers was ensuring that the septic system was ok.  I increased the coverage on the home warranty to cover the septic (this cost an additional $75) and the buyers where happy.  I was more than happy to spend less than $500 on the warranty to make the deal work and get paid for all of my hard work on listing and marketing the house as well as negotiating the deal.

I have seen time and time again where home warranties really help.  I put them on all of my listings and I pay for it.  This is a great listing tool as well as a win win for buyers and sellers throughout the transaction.

I am pleased to announce that the real estate company I am affiliated with, The Home Team, has recently been chosen as a winner of the 2009 Rose Awards.  The readers of The Chapel Hill News each year have the opportunity to tell the public about the businesses, services, events and hidden treasures that are the best in our communities, by voting via the web for their favorites.  This year, the proud recipient of the "Best Real Estate Office" went to The Home Team for their outstanding service to the community with regard to Chapel Hill Real Estate and Durham Real Estate.

• Our network of satisfied customers extends from UNC, UNC Hospitals, Duke, Duke Hospital, RTP companies, to businesses in the community, the retirement community, our personal friends, families and our places of worship.   

• The company's recently redesigened website, www.home-team.com, offers home buyers and sellers access to a full range of information.   

• As of December 2007, the Greater Chapel Hill Association of REALTORS consisted of 478 REALTOR members. The Home Team REALTORS represents 5% of the membership and 14% of the closed transactions.  

• The office is situated at the gateway to Chapel Hill, on Franklin Street just off 15/501, easily accessed by clients and customers.  Whether you are looking for Chapel Hill homes for sale or Durham real estate, The Home Team offers quality service with a reputation of excellence in our field.
  

Click here to learn more about Team Jodi

Click here to view Team Jodi's Chapel Hill and Durham homes for sale

Click here to Search Homes for sale in Chapel Hill, Carrboro, Durham and the surrounding Triangle NC area

Click here to learn more about Team Jodi and our services

Click here to view Team Jodi's homes for sale

Click here to find homes for sale in Chapel Hill, Durham and the surrounding Triangle NC area

Here are the numbers for last month Nationally, in North Carolina and in Orange County, NC,

Foreclosure Trends : January, 2009

Notice of Default (NOD), Auction / Notice of Trustee's Sale (NTS), Notice (Judgment) of Foreclosure Sale (NFS), Lis Penden (LIS), Real Estate Owned (REO)

Proper insulation will save you on bills. The Department of Energy concluded that cooling and heating counts for up to 50-70 percent of all energy used in the average home in the U.S. In today’s state, this philosophy can also save natural resources.

Rather than expensive and mal-treated wood, interior walls can be made from steel and concrete, avoiding many of the problems associated with asbestos and other insulation methods. As education and technology of green sustainable practices increase, the numbers will continue to rise.

See related article asbestos prevention and removal.

The way you live in your house is not the way to sell your house. So, what makes a house a home for sale on the market, and one that soon has a “SOLD” sign out on the front lawn? And what aspects are important to look at because potential buyers will ask the question, “How much work are we going to need to do prior to moving in and beyond?” The appearance and cleanliness of the home are significant.

Always have your home in show ready condition.  It is critical to be prepared so you have the least amount of stress when you get the call that an agent wants to show your home.  Sellers need to know that today, buyers have high expectations.  An updated home in excellent condition is critical to getting your home sold in the least amount of time and for top dollar.  Buyers love updated kitchen and baths, new lighting fixtures and it is amazing how new paint and carpet can transform a home. 

Here are some things a buyer will look for when dealing with the purchase of a home. The buyer will consider the following:

• Exactly what personal property is included in the sale? Lighting fixtures, drapes or blinds, refrigerators, and washers and dryers.  
• Is the neighborhood quiet, friendly? Are the homes well kept?
• Are there any development plans that will affect the property?
• The inspection report - are there any substantial problems with the house?
• Real estate taxes - what are the current property taxes, and what impact will your purchase have on the taxes?

Another issue that raises concern regarding buyer appeal is that sellers often mistakenly think that viewing empty properties will give the buyers an accurate sense of the space available. On the contrary, sometimes it is more difficult to judge the size of a room without furniture and other objects as reference points. An empty room even allows buyers to focus on negative details instead of getting a sense of the overall space and the flow of each room to the next. Buyers need to ask themselves the question, “Can I see myself in this home?” Therefore, staging really helps buyers envision themselves in the space.

The idea of “staging” a home to make it look alluring to buyers has become popular during the last decade, as manifested by the proliferation of numerous home staging companies offering advice about how to make the house more attractive to buyers. Check out next’s months article about “Staging a Home.”

When selling your home with Team Jodi, I will work with you to put your home is the best showing condition possible.  My goal is to create the Wow factor so that buyers can envision themself in the home and want to put your property under contract.

 
In the world of real estate, there many decisions to be made and information that needs to be accumulated. Due to its flame resistant and durable qualities, it possessed many traits that were needed in construction. North Carolina is no stranger to asbestos-related activity. Sites where asbestos has been used extensively include steel mills, power plants, shipyards and other marine industries.

The path to home ownership will bring many happy and memorable moments to individuals and families. Potential North Carolina home owners or those remodeling older homes should be aware that homes built before 1980 may still contain asbestos.  Asbestos exposure can cause health concerns but it must be known, that not all exposure leads to a related illness. With proper preparation and cautions, you can easily assure your home is asbestos free.

When asbestos materials become broken down or friable, this is when it becomes a concern, as fibers can become airborne and presents a high risk for anyone in the area. The inhalation of its fibers can cause a severe form of asbestos lung cancer known as pleural mesothelioma, a form of asbestos cancer that accounts for three percent of all cancer diagnoses in the United States alone. Due to the fact many mesothelioma symptoms are similar to less serious ailments, Diagnosis of mesothelioma is one of the more difficult tasks physicians encounter.

If any suspected asbestos is present, the best advice is to leave it alone, as this can break down its fibers to move airborne. Hiring a professional inspector who can determine the validity of danger is a good first step. Sometimes, the best option is no action at all. However, if removal is needed in homes, work places and public facilities, it must be performed by a licensed abatement contractor who is trained in handling toxic materials.    

North Carolina's Asbestos Hazard Management Program  provides detailed information to citizens, schools and public facilities about the health hazards of asbestos. The organization also accredits individuals who perform asbestos abatement and removal projects.

Once the removal process is completed, green insulation alternatives should be given serious consideration. These alternatives include: cellulose, cotton fiber and lcynene. The United Nations Environmental Program states that the use of recycled building materials such as cotton fiber insulation can reduce energy use by 25 percent annually. The numbers continue to improve as more eco-friendly options become available. With a lackluster economy, these kinds of figures have attracted those who were unaware of eco-friendly construction.

103 Cross Creek Drive 

$997,000

Chapel Hill-Durham are not in the top 10 fastest growing area, but it is still growing.  It came in at a steady growth rate of 2.5%.

The Commissioners emphasized their commitment to implementing a tax rate "no higher than revenue neutral."  We all know our taxes will go up.  I have been saying all along that they will go up but just not significantly. There would be a major public outcry if taxes were raised too high.  This is yet another time that our public officials have stated that they expect the budget to be revenue neutral.  This is important news!

I guess we will have to wait until June 2009 to find out for sure.

Lovely Carrboro Townhome in pristine condition.  Fresh interior paint and spacious rooms make this Carrboro townhouse stand out. It's convenient location within walking distance to Carrboro Elementary School and the Farmer's Market make it even more special.