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Tag Archives: NC

Home and property values in the Triangle

November 20, 2009

The press is still reporting dismal news on property values. “Property values will be off 40 percent to 50 percent from their peak, vacancies will rise, rents will decrease, and credit will remain scarce,” quotes David Bracken in an article in the Raleigh News & Observer.

Besides what that means for all of us as citizens, it’s enough to make any self-respecting Realtor want to pack up her signs and move to outer Elbonia.

The good news is that statement comes from interviews with 900 real estate professionals across the country. My sympathies go out to all the good folks in California, Arizona, Florida and other markets, but they aren’t us.

In the same article Jim Anthony is quoted as saying, “We don’t have the supply, and we do have the demand. They don’t have the demand, and they have all the supply.”

Average Prices Overall in the four county area of Durham, Johnston, Orange and Wake:

  • May 09 — $234,900
  • Jun 09 — $238,400
  • Jul 09 — $237,500
  • Aug 09 — $237,000
  • Sep 09 — $220,000
  • Oct 09 — $226,200

While prices have not been moving up, North Carolina’s Triangle is holding up well because “the region is widely viewed as having a bright economic future once the recession fades.”

For help in buying or selling your home, please contact me. Visit JustCallPowers.com.

[Raleigh News & Observer, 11/19/09, and Market Update, Triangle MLS, 10/09]

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Foreclosure home for sale in Clayton, NC

November 16, 2009

If you are looking for a foreclosed home to buy in Clayton, North Carolina, you owe it to yourself to take a look at this one:

  • 1908 sf
  • .33 acre
  • 3 bedroom/2-1/2 baths
  • Bonus room
  • Side load 2-car garage
  • Level lot with large backyard
  • Alarm system
  • 9′ ceilings
  • Crown molding and chair rails downstairs
  • Hardwoods in foyer, dining room and kitchen
  • $158,900

Conveniently located in Clayton, North Carolina, close to Talecris and Novo Nordisk. To learn more, please drop me an email at linda (at) justcallpowers.com.

Visit www.justcallpowers.com to learn more about the area.

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Foreclosure help in NC

September 12, 2009

“Homeowners will get a little more breathing room before a possible foreclosure under a bill signed into law by Gov. Beverly Perdue on Wednesday.” This was the reporting in the Raleigh News & Observer on September 10, 2009.

Mortgages have changed hands so frequently it can be difficult to locate the actual lender and decision-maker. The law gives the borrower time to talk to the lender and try to modify the loan. “The clerk must also determine whether the lender has given the mortgage holder sufficient notice before trying to forecloreclose. The clerk can impose a 60-day waiting period before a foreclosure can proceed.”

Besides being devastating for families, foreclosures cause a ripple effect throughout the community and local economy. This bill is good news.

For advice on your home, please contact me via www.justcallpowers.com.

There is a way that might help you avoid this dire situation in the first place. It comes from building equity much faster than you otherwise can, and you can do this without changing your current loans in any way. Visit www.myhomefreeandclear.com to learn more.

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North Carolina property tax valuation

December 26, 2007

In North Carolina counties must assess all properties for taxes every eight years. Although our property values may have sagged in recent months, I’d be hard pressed to find anything that has gone down in value since the last assessment on January 1, 2000.

On December 21, 2007 the Raleigh News & Observer ran an excellent article explaining just how the numbers are arrived at . Here is a very short synopsis on the method for property tax valuation:

  1. The county is divided into nodes of neighborhoods and similar properties. Each of the 4,400 nodes is studied for market factors and inflation over the past 1 1/2 - 2 years.
  2. The base value of the home is determined using a schedule of values. The base price for the first floor is $72.17/sf. The presence of a second floor will add $39.69/sf to the first floor base price. The presence of central air, two and a half baths and a fireplace will add another $10.28 to the base amount. If the first foor measures 1,500 square feet, the base value of the home is $183,210. (These numbers will vary because larger homes are valued at less per square foot.)
  3. Other things will be added to the base price: porches, decks, garages and bay windows.
  4. Homes are rated for their construction. In the newspaper’s example, the base price was increased 30% because it was rated A-10. In other words, the value after step 3 will be multiplied by 1.3.
  5. Depreciation is taken into account. The value after step 4, if the property is an eight year old home, will be multiplied by .92.
  6. The land value, “determined from related land values in the node,” is added to the value after step 5. The example gave an amount of $62,000 for the land value.

The key thing to remember with this is that the assessed value and the market value are two entirely separate beasts. The county can say whatever it wants, but your property is worth precisely what a ready, willing and able buyer is willing to pay.

P.S.

If you are considering the purchase or sale of property in and around Raleigh, North Carolina, please visit JustCallPowers.com.

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Raven Rock State Park

October 30, 2007

Okay, I admit it. My usual exercise is pushing my chair back from my desk. As my dad would say, “Pitiful.” In an effort to see what it would take to do myself in, I thought it would be a really fun thing to take a two-and-one-half-mile hike at Raven Rock State Park.

The park is located about an hour southwest of Raleigh using either Hwy 1 or Hwy 401. Hwy 421 runs from Sanford to Lillington, and Raven Rock is off that. I’d read about it a few years ago in an article on places to cool off during the summer. Raven Rock is a promontory overlooking the Cape Fear River, and the rock faces north. Between the shade of the trees, the closeness to the water and that big cool rock face, there lurks a nice microclimate that can be considerably cooler than the surrounding area.

If you’re into camping or canoeing, there are facilities for both. A little way upriver is a place call Fish Trap where the fishing is supposed to be pretty good. The major feature I forgot to photograph was the stairs going down the rock race almost to the river. I swear it was 70 steps down and 250 back up. To see the pictures and get more information on the park, go to –
http://www.ils.unc.edu/parkproject/visit/raro/home.html

We had a really good time on this hike, and we plan to do similar ones in other areas. North Carolina has many hiking trails, and if this one didn’t kill me, I figure I’m ready to tackle anything. Yesterday I even bought a pair of walking shoes.

P.S.

If you are thinking of buying or selling property in this part of North Carolina, please visit JustCallPowers.com.

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How to get your North Carolina driver’s license

October 20, 2007

I was reminded of this when Britney Spears ran afoul of California law with regard to her driver’s license. It’s one more thing to remember if you are moving here from out of state. First off, you need to obtain a North Carolina driver’s license within 60 days.

The state Division of Motor Vehicles has produced a nifty Newcomers Guide that covers all the important things you need to know:

  1. Driving tests
  2. Safety inspections and emissions tests
  3. Insurance requirments
  4. Property taxes you need to pay for your car
  5. Vanity plates
  6. Window tinting
  7. Rules for motorcycles and commercial licenses

http://www.ncdot.org/dmv/moving/newnc/newComersGuide (yes, this works)

You can also call the DMV at (919) 715-7000 or visit the main site at www.ncdot.org/dmv

Of course, when it comes time to purchase a home in the Triangle area of North Carolina, I would very much welcome the opportunity to assist you. Please visit JustCallPowers.com.

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How to landscape during North Carolina’s drought

October 20, 2007

Yes, North Carolina is in a dought. It’s serious, and we’re all being asked to do our part. One thing to do is visit the NC Cooperative Extension Service’s website. They have a publication called “Wise Water Use in Landscaping” (AG-508-1).

http://www.bae.ncsu.edu/programs/extension/publicat/wqwm/ag508_1.html

Topics include:

  1. Plant only what you can water.
  2. Choose plants based on water needs.
  3. Learn the symptoms of drought stress.
  4. Establish priority needs for water.
  5. Manage the soil for efficient water use.
  6. Manage the landscape to avoid unnecessary plant stress.

Of course, when it comes time to purchase a property in which to plant your drought tolerant landscape, I would very much welcome the opportunity to assist you. Please visit JustCallPowers.com.

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ABC liquor stores in North Carolina

August 6, 2007

Many long years ago, North Carolina was a dry state. That’s how NASCAR came to be, with moonshiners in their souped-up street cars doing their darnedest to outrun “revenooers.” In 1937 the General Assembly passed the Alcoholic Beverage Control Bill which provided for the establishment of what is currently called the North Carolina Alcoholic Beverage Control Commission. The stores that sell hard liquor are the Alcoholic Beverage Control (or ABC) stores.

You can purchase beer and wine at your friendly neighborhood supermarket, but to buy hard liquor you have to shop at an ABC store. They are closed on Sundays, Thanksgiving, Christmas, New Year’s Day, July Fourth and Labor Day.

For more information and store locations, visit http://www.ncabc.com

P.S.

When it comes time to sell or purchase a home in the Raleigh area of North Carolina, I would very much welcome the opportunity to assist you. Please visit JustCallPowers.com.

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