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Tag Archives: North Carolina

What it costs to close a $200,000 loan

August 24, 2010

The link below takes you to a news article stating that New York has the highest closing costs in the country, averaging $5,623 on a $200,000 loan.

http://finance.yahoo.com/news/Exclusive-NY-has-highest-brn-3892778001.html?x=0&.v=1&.pf=real-estate&mod=pf-real-estate

But that’s not the point. At least it’s not the point I want to make. More important than that (unless you happen to live in New York) is the link to the specific amounts that it will cost you to close a $200,000 loan in your state.

Because I sell real estate in the Raleigh area of North Carolina, I think it would be very useful for you to look at our closing costs. The good news is that we in North Carolina are among the five states with the lowest costs for closing a loan. Our average for a $200,000 loan is $3,255, more than $2,000 less than New York.

Visit www.justcallpowers.com to start looking for a home in the Raleigh area.

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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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First time home buyers tax credit in North Carolina

September 12, 2009

Time is running out. To take advantage of the Federal Government’s $8,000 tax credit for first-time home buyers, you have to close on your new home by November 30, 2009.

For more information on the tax credit, here is an excellent article on the subject — http://homebuying.about.com/od/buyingahome/a/21808_taxcredit.htm

There’s also money available at excellent rates. For example, a USDA loan on a property that qualifies is 4.875% at this moment. Locations that qualify are Holly Springs and Fuquay Varina. It’s also possible to put these loans together with $0 down. There are restrictions, but give me a call and let’s talk. Please visit — www.justcallpowers.com.

For an additional way to save a pile of money on your new home, please visit www.myhomefreeandclear.com.

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Maps of Raleigh & Wake County, North Carolina

June 4, 2009

I’m a map person, and it can be difficult to find just the right map for just the right occasion. Here in one place is a wide selection of maps for Raleigh and Wake County, North Carolina — http://bit.ly/Zqvg1

I hope you find this site as handy as I have. It can be a big help to you if you happen to be searching for a place to live in this area. So too can my website — JustCallPowers.com

And if you’d like to pay off that new home in 1/3 to 1/2 the time without changing anything you are currently doing, please visit — MyHomeFreeAndClear.com

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Right turn on red. When is it okay?

December 2, 2008

You’ve brought your car to a complete stop at an intersection, and you need to turn. The light is red. What do you do? Is the guy behind you honking yet? There are no uniform laws governing this situation, and what might be completely illegal in one city is perfectly legal in another. In New York City, for example, it’s illegal to turn right on red unless there’s a sign saying you can.

The licensing book’s answer is pathetic and doesn’t answer the question. What to do? If you want to turn left, wait. There is no situation where it is legal in North Carolina to turn left on red. If you want to turn right, unless there’s a sign telling you not to, it’s perfectly legal when it is safe to go.

What about when the light is a red arrow? Same thing. The arrow is just there to tell you that you have to turn in that direction from that lane.

Not to change the subject, but if you are planning to buy or sell real estate in North Carolina’s Triangle, I can help. Please visit — www.justcallpowers.com.

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New North Carolina law regarding solar collectors

February 10, 2008

The introduction to this new North Carolina law regarding solar collectors states –
AN ACT to provide that city ordinances, county ordinances, and deed restrictions, covenants, and other similar agreements cannot prohibit or have the effect of prohibiting the installation of solar collectors not facing public access or common areas on detached single family residences.

There are limitations, of course. For example, nothing in the act prohibits homeowners associations from restricting where the solar collectors might be located.

To read the text of the act for yourself, click below.
SL2007-0279

If I can help you find a property to place under the solar collector, please visit JustCallPowers.com.

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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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Neighborhood safety, crime, sex offenders, etc.

October 20, 2007

Unless you are very familiar with a community, before you commit to spending a lot of money on a new home and moving expenses, you probably want to know how safe that neighborhood is. I can tell you that I’ve never felt threatened here in the Triangle area of North Carolina, but that’s just me, and I don’t want you to take my word for it. Better to contact the people who really know.

To check the frequency of crime in a particular neighborhood:
Raleigh, call the Raleigh Police Department Records Division — (919) 890-3325
Durham, call the Durham Police Department — (919) 560-4425 (ask for Crime Analysis)
Chapel Hill, call the Chapel Hill Police Department — (919) 968-2760 (ask for the crime rate or a list of calls to a specific block

Of course, when it comes time to purchase a home in your chosen neighborhood, I would very much welcome the opportunity to assist you. Please visit JustCallPowers.com.

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